{
|
"conclusion": {
|
"base_midpoint": "11.15500000041982559415333500",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-0.03182429399971436599818238479"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "18.5369701",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "253885374.211059855"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "203108299.368847884"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "169256916.14070657"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "145077356.6920342028571428571"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "126942687.1055299275"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "101554149.684423942"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "84628458.070353285"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "67702766.456282628"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "50777074.842211971"
|
}
|
],
|
"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": "0.46",
|
"profit": "126004704.66000001"
|
},
|
"2027": {
|
"eps": "0.66",
|
"profit": "180789358.86"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池1家）",
|
"report_date": "2026-08-06",
|
"source_id": "SRC-EM-CONSENSUS-20260806",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.46",
|
"eps_profit_reconciliation_gap": "0.00000000000000007936211609703874692117261005",
|
"institution_count": 1,
|
"pe_on_mean": "25.02173913043478062291748635",
|
"profit_max": "126004704.66000001",
|
"profit_mean": "126004704.66000001",
|
"profit_median": "126004704.66000001",
|
"profit_min": "126004704.66000001"
|
},
|
"2027": {
|
"eps_mean": "0.66",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "17.43939393939393939393939394",
|
"profit_max": "180789358.86",
|
"profit_mean": "180789358.86",
|
"profit_median": "180789358.86",
|
"profit_min": "180789358.86"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-06",
|
"code": "300092.SZ",
|
"company": "科新机电",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-23",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "0.8585940663039671299542120635",
|
"annual_fcf": "-31007745.32",
|
"book_value_per_share": "6.057666333978612572861690163",
|
"current_fcf": "-37878092.42",
|
"deduct_pe": "86.51230426089354032690281000",
|
"diluted_shares": "273923271.0",
|
"enterprise_value": "2651399450.300",
|
"market_cap": "3152856849.210",
|
"normalized_eps": "0.1330446587723464922408874126",
|
"normalized_pe": "86.51230426089355100918435945",
|
"normalized_profit": "36444028.1199999955",
|
"pb": "1.900071639046575067390906838",
|
"price": "11.51",
|
"ps": "2.862316034390910717194622501",
|
"reported_pe": "76.35245453181252089612189649",
|
"ttm_attributable_profit": "41293457.67",
|
"ttm_deduct_profit": "36444028.12",
|
"ttm_eps": "0.1507482643561159869473083212",
|
"ttm_revenue": "1101505498.11"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-4849429.5500000045",
|
"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": [
|
{
|
"action": "拆解营运资本、资本开支与回款持续性。",
|
"field": "metrics.annual_fcf",
|
"issue_id": "QA-NEGATIVE-FCF",
|
"message": "最近完整年度简化自由现金流为负。",
|
"recalc_scope": "DCF 与现金流交叉验证",
|
"severity": "WARNING"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 1
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "0.5755",
|
"implied_margin": "0.1431158017195455358597311251",
|
"implied_profit": "157642842.4605",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.4604",
|
"implied_margin": "0.1144926413756364286877849000",
|
"implied_profit": "126114273.9684",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.3836666666666666666666666667",
|
"implied_margin": "0.09541053447969702390648741671",
|
"implied_profit": "105095228.307",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.3288571428571428571428571429",
|
"implied_margin": "0.08178045812545459191984635718",
|
"implied_profit": "90081624.26314285714285714286",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.28775",
|
"implied_margin": "0.07155790085977276792986556253",
|
"implied_profit": "78821421.23025",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.2302",
|
"implied_margin": "0.05724632068781821434389245002",
|
"implied_profit": "63057136.9842",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.1918333333333333333333333333",
|
"implied_margin": "0.04770526723984851195324370835",
|
"implied_profit": "52547614.1535",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.1534666666666666666666666667",
|
"implied_margin": "0.03816421379187880956259496668",
|
"implied_profit": "42038091.3228",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.1151",
|
"implied_margin": "0.02862316034390910717194622501",
|
"implied_profit": "31528568.4921",
|
"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": "-0.14436795673953684",
|
"cagr_low": "-0.26410601424500346",
|
"equity_value_high": "1445903985.96",
|
"equity_value_low": "680425405.2",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "5.278499999950716125903738934",
|
"price_low": "2.484000000131423664256696175",
|
"role": "pessimistic",
|
"upside_to_high": "-0.5413987836706588943611000057",
|
"upside_to_low": "-0.7841876628904062845997657537"
|
},
|
{
|
"assumption": "以TTM归一化利润与1家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.06942445352772775",
|
"cagr_low": "-0.11609975288969032",
|
"equity_value_high": "4410164663.24",
|
"equity_value_low": "1701063513.0",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "16.10000000051109202766492957",
|
"price_low": "6.210000000328559160641740438",
|
"role": "base",
|
"upside_to_high": "0.398783666421467595800602048",
|
"upside_to_low": "-0.4604691572260157114994143842"
|
},
|
{
|
"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": "0.21590832136854377",
|
"cagr_low": "0.09000539504903737",
|
"equity_value_high": "8379312860.08",
|
"equity_value_low": "4851181129.48",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "30.59000000069362489468811870",
|
"price_low": "17.71000000025554601383246479",
|
"role": "optimistic",
|
"upside_to_high": "1.657688966176683309703572433",
|
"upside_to_low": "0.538662033036971851766504326"
|
}
|
]
|
}
|
