{
|
"conclusion": {
|
"base_midpoint": "22.27875000003658504342420054",
|
"price_label": "当前价格高于基准合理区间",
|
"price_position": "ABOVE_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.7370812994416854089762019520"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "62.326737",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "4897885914.6704883"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "3918308731.73639064"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "3265257276.4469922"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "2798791951.240279028571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "2448942957.33524415"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "1959154365.86819532"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "1632628638.2234961"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "1306102910.57879688"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "979577182.93409766"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "available",
|
"detail": [
|
{
|
"core_assumption": "汇总接口未提供逐家报告日期；估值日仅作为C1汇总快照日期，不替代单家研报。",
|
"estimates": {
|
"2026": {
|
"eps": "0.975",
|
"profit": "1532388505.05"
|
},
|
"2027": {
|
"eps": "1.3",
|
"profit": "2043184673.4"
|
},
|
"2028": {
|
"eps": "1.62",
|
"profit": "2546122439.1600003"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池2家）",
|
"report_date": "2026-08-05",
|
"source_id": "SRC-EM-CONSENSUS-20260805",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.975",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "39.69230769230769230769230769",
|
"profit_max": "1532388505.05",
|
"profit_mean": "1532388505.05",
|
"profit_median": "1532388505.05",
|
"profit_min": "1532388505.05"
|
},
|
"2027": {
|
"eps_mean": "1.3",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "29.76923076923076923076923077",
|
"profit_max": "2043184673.4",
|
"profit_mean": "2043184673.4",
|
"profit_median": "2043184673.4",
|
"profit_min": "2043184673.4"
|
},
|
"2028": {
|
"eps_mean": "1.62",
|
"eps_profit_reconciliation_gap": "0.0000000000000001178262268090194418033204595",
|
"institution_count": 1,
|
"pe_on_mean": "23.88888888888888607415124845",
|
"profit_max": "2546122439.1600003",
|
"profit_mean": "2546122439.1600003",
|
"profit_median": "2546122439.1600003",
|
"profit_min": "2546122439.1600003"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-05",
|
"code": "000021.SZ",
|
"company": "深科技",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-29",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "1.553800453971330630840333450",
|
"annual_fcf": "544331570.40",
|
"book_value_per_share": "8.500671998639612837651780322",
|
"current_fcf": "-270872297.39",
|
"deduct_pe": "61.65758367294157950978462486",
|
"diluted_shares": "1571680518.0",
|
"enterprise_value": "61941952316.800001",
|
"market_cap": "60824036046.60",
|
"normalized_eps": "0.6276600167350296696876152282",
|
"normalized_pe": "61.65758367294157325952918066",
|
"normalized_profit": "986481020.2300001",
|
"pb": "4.552581255481128209099664983",
|
"price": "38.7",
|
"ps": "3.776358762336935689639494962",
|
"reported_pe": "50.73201288280314818343953470",
|
"ttm_attributable_profit": "1198928104.57",
|
"ttm_deduct_profit": "986481020.23",
|
"ttm_eps": "0.7628319437945721230858955013",
|
"ttm_revenue": "16106530092.75"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-212447084.3399999",
|
"basis": "2025年报加2026年最新累计期减上年同期比较数",
|
"description": "以TTM扣非归母利润替代TTM归母利润作为核心盈利代理"
|
}
|
],
|
"qa": {
|
"error_count": 0,
|
"info_count": 0,
|
"issues": [],
|
"status": "PASS",
|
"warning_count": 0
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "1.935",
|
"implied_margin": "0.1888179381168467844819747481",
|
"implied_profit": "3041201802.33",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "1.548",
|
"implied_margin": "0.1510543504934774275855797985",
|
"implied_profit": "2432961441.864",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "1.29",
|
"implied_margin": "0.1258786254112311896546498321",
|
"implied_profit": "2027467868.22",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "1.105714285714285714285714286",
|
"implied_margin": "0.1078959646381981625611284275",
|
"implied_profit": "1737829601.331428571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.9675",
|
"implied_margin": "0.09440896905842339224098737404",
|
"implied_profit": "1520600901.165",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.774",
|
"implied_margin": "0.07552717524673871379278989923",
|
"implied_profit": "1216480720.932",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.645",
|
"implied_margin": "0.06293931270561559482732491603",
|
"implied_profit": "1013733934.11",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.516",
|
"implied_margin": "0.05035145016449247586185993282",
|
"implied_profit": "810987147.288",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.387",
|
"implied_margin": "0.03776358762336935689639494962",
|
"implied_profit": "608240360.466",
|
"pe": "100"
|
}
|
],
|
"scenarios": [
|
{
|
"assumption": "需求、验收或价格低于预期，利润下修且估值回归低位。",
|
"cagr_high": "-0.21979403028074251",
|
"cagr_low": "-0.32897688290043114",
|
"equity_value_high": "17584158095.46",
|
"equity_value_low": "8274897927.24",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "11.18812500000715794327864793",
|
"price_low": "5.264999999980912151256938848",
|
"role": "pessimistic",
|
"upside_to_high": "-0.7109011627905127146439625858",
|
"upside_to_low": "-0.8639534883725862493215261280"
|
},
|
{
|
"assumption": "以TTM归一化利润与2家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "-0.040975053203687994",
|
"cagr_low": "-0.19401773828438973",
|
"equity_value_high": "49342909862.68",
|
"equity_value_low": "20687244818.22",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "31.39500000004453831373380935",
|
"price_low": "13.16250000002863177311459173",
|
"role": "base",
|
"upside_to_high": "-0.1887596899213297593350436860",
|
"upside_to_low": "-0.6598837209294927190409666220"
|
},
|
{
|
"assumption": "订单、产品结构和规模效应超预期，利润与估值中枢同步上移。",
|
"cagr_high": "0.09038689863955307",
|
"cagr_low": "-0.0225187365504681",
|
"equity_value_high": "93751528738.94",
|
"equity_value_low": "54277200848.92",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "59.65049999998791102912939460",
|
"price_low": "34.53450000003117681961366655",
|
"role": "optimistic",
|
"upside_to_high": "0.541356589146974445197141979",
|
"upside_to_low": "-0.1076356589139230795965460840"
|
}
|
]
|
}
|
