{
|
"conclusion": {
|
"base_midpoint": "9.83804503707368899752185273",
|
"price_label": "当前价格高于基准合理区间",
|
"price_position": "ABOVE_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "-1.070533314620708874043956165"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "32.8060887",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "375611363.88898122"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "300489091.111184976"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "250407575.92598748"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "214635065.07941784"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "187805681.94449061"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "150244545.555592488"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "125203787.96299374"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "100163030.370394992"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "75122272.777796244"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "no_usable_forecasts",
|
"detail": [],
|
"summary": {}
|
},
|
"meta": {
|
"as_of_date": "2026-08-06",
|
"code": "300572.SZ",
|
"company": "安车检测",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-25",
|
"market": "深圳证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": null,
|
"annual_fcf": "30007348.98",
|
"book_value_per_share": "7.027175026481206426801323376",
|
"current_fcf": "-37357605.47",
|
"deduct_pe": null,
|
"diluted_shares": "228988812.0",
|
"enterprise_value": "3584839124.650",
|
"market_cap": "4664502100.440",
|
"normalized_eps": "-0.9518121266553404801279112274",
|
"normalized_pe": null,
|
"normalized_profit": "-217954328.12999995",
|
"pb": "2.898746640468992423661538631",
|
"price": "20.37",
|
"ps": "10.66939972419969817104078312",
|
"reported_pe": null,
|
"ttm_attributable_profit": "-179234258.14",
|
"ttm_deduct_profit": "-217954328.13",
|
"ttm_eps": "-0.7827205904714680994982409883",
|
"ttm_revenue": "437185054.55"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-38720069.98999995",
|
"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": 1,
|
"issues": [
|
{
|
"action": "补充法定披露、行情接口或机构预测汇总页来源。",
|
"field": "institutions",
|
"issue_id": "QA-CORE-SOURCE-MISSING",
|
"message": "核心字段没有由注册表中允许承载核心数字的来源支持。",
|
"recalc_scope": "institutions",
|
"severity": "WARNING"
|
},
|
{
|
"action": "使用正常化情景、PB 或反向估值。",
|
"field": "metrics.ttm_attributable_profit",
|
"issue_id": "QA-NEGATIVE-TTM-PROFIT",
|
"message": "TTM 归母利润不为正，报告 PE 不适用。",
|
"recalc_scope": "PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "检查主营盈利恢复条件。",
|
"field": "metrics.ttm_deduct_profit",
|
"issue_id": "QA-NEGATIVE-TTM-DEDUCT",
|
"message": "TTM 扣非利润不为正，扣非 PE 不适用。",
|
"recalc_scope": "扣非 PE 模块",
|
"severity": "WARNING"
|
},
|
{
|
"action": "不得以公司业绩预告或自有情景冒充机构预期。",
|
"field": "institutions",
|
"issue_id": "QA-INSTITUTION-NONE",
|
"message": "估值日没有可用机构盈利预测，已明确记录为空。",
|
"recalc_scope": "机构预期模块",
|
"severity": "INFO"
|
}
|
],
|
"status": "PASS_WITH_WARNINGS",
|
"warning_count": 3
|
},
|
"reverse_pe": [
|
{
|
"implied_eps": "1.0185",
|
"implied_margin": "0.5334699862099849085520391562",
|
"implied_profit": "233225105.022",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.8148",
|
"implied_margin": "0.4267759889679879268416313249",
|
"implied_profit": "186580084.0176",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.679",
|
"implied_margin": "0.3556466574733232723680261041",
|
"implied_profit": "155483403.348",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.582",
|
"implied_margin": "0.3048399921199913763154509464",
|
"implied_profit": "133271488.584",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.50925",
|
"implied_margin": "0.2667349931049924542760195781",
|
"implied_profit": "116612552.511",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.4074",
|
"implied_margin": "0.2133879944839939634208156625",
|
"implied_profit": "93290042.0088",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.3395",
|
"implied_margin": "0.1778233287366616361840130521",
|
"implied_profit": "77741701.674",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.2716",
|
"implied_margin": "0.1422586629893293089472104416",
|
"implied_profit": "62193361.3392",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.2037",
|
"implied_margin": "0.1066939972419969817104078312",
|
"implied_profit": "46645021.0044",
|
"pe": "100"
|
}
|
],
|
"scenarios": [
|
{
|
"assumption": "亏损继续且现金消耗偏高，按归母净资产折价。",
|
"cagr_high": "-0.19172722945745324",
|
"cagr_low": "-0.2702263160398769",
|
"equity_value_high": "1609144461.030",
|
"equity_value_low": "965486676.618",
|
"method": "pb",
|
"name": "悲观",
|
"price_high": "7.027175026481206426801323376",
|
"price_low": "4.216305015888723856080794026",
|
"role": "pessimistic",
|
"upside_to_high": "-0.6550233173057826987333665500",
|
"upside_to_low": "-0.7930139903834696192400199300"
|
},
|
{
|
"assumption": "业务逐步接近盈亏平衡，按成长型资产的中性净资产倍数定价。",
|
"cagr_high": "-0.09089834297367827",
|
"cagr_low": "-0.19172722945745324",
|
"equity_value_high": "2896460029.854",
|
"equity_value_low": "1609144461.030",
|
"method": "pb",
|
"name": "基准",
|
"price_high": "12.64891504766617156824238208",
|
"price_low": "7.027175026481206426801323376",
|
"role": "base",
|
"upside_to_high": "-0.3790419711504088577200597899",
|
"upside_to_low": "-0.6550233173057826987333665500"
|
},
|
{
|
"assumption": "核心产品或订单放量并形成可持续盈利，给予成长溢价。",
|
"cagr_high": "0.006890397913604129",
|
"cagr_low": "-0.09089834297367827",
|
"equity_value_high": "4827433383.090",
|
"equity_value_low": "2896460029.854",
|
"method": "pb",
|
"name": "乐观",
|
"price_high": "21.08152507944361928040397013",
|
"price_low": "12.64891504766617156824238208",
|
"role": "optimistic",
|
"upside_to_high": "0.034930048082651903799900350",
|
"upside_to_low": "-0.3790419711504088577200597899"
|
}
|
]
|
}
|
