{
|
"conclusion": {
|
"base_midpoint": "27.324",
|
"price_label": "当前价格低于基准合理区间",
|
"price_position": "BELOW_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.4744546918459961938222807788"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "23.1269236",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "20",
|
"required_profit": "259792480.31820600"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "207833984.25456480"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "173194986.87880400"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "148452845.8961177142857142857"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "129896240.15910300"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "103916992.12728240"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "86597493.43940200"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "69277994.75152160"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "51958496.06364120"
|
}
|
],
|
"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": "0.69",
|
"profit": "155020023.0"
|
},
|
"2027": {
|
"eps": "0.8875",
|
"profit": "199391696.25"
|
},
|
"2028": {
|
"eps": "1.1075",
|
"profit": "248818370.24999997"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池4家）",
|
"report_date": "2026-08-06",
|
"source_id": "SRC-EM-CONSENSUS-20260806",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "0.69",
|
"eps_profit_reconciliation_gap": "0.00",
|
"institution_count": 1,
|
"pe_on_mean": "20.81159420289855072463768116",
|
"profit_max": "155020023.0",
|
"profit_mean": "155020023.0",
|
"profit_median": "155020023.0",
|
"profit_min": "155020023.0"
|
},
|
"2027": {
|
"eps_mean": "0.8875",
|
"eps_profit_reconciliation_gap": "0.000",
|
"institution_count": 1,
|
"pe_on_mean": "16.18028169014084507042253521",
|
"profit_max": "199391696.25",
|
"profit_mean": "199391696.25",
|
"profit_median": "199391696.25",
|
"profit_min": "199391696.25"
|
},
|
"2028": {
|
"eps_mean": "1.1075",
|
"eps_profit_reconciliation_gap": "0.0000000000000001205698758088381282494807043",
|
"institution_count": 1,
|
"pe_on_mean": "12.96613995485327470102340101",
|
"profit_max": "248818370.24999997",
|
"profit_mean": "248818370.24999997",
|
"profit_median": "248818370.24999997",
|
"profit_min": "248818370.24999997"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-06",
|
"code": "688722.SH",
|
"company": "同益中",
|
"currency": "CNY",
|
"latest_operating_info_date": "2026-04-25",
|
"market": "上海证券交易所",
|
"report_period_end": "2026-03-31"
|
},
|
"metrics": {
|
"annual_cash_conversion": "0.9584933022879126409107845447",
|
"annual_fcf": "17047067.13",
|
"book_value_per_share": "6.513390424838215899374495642",
|
"current_fcf": "62275912.31",
|
"deduct_pe": "35.19115547493097319910634155",
|
"diluted_shares": "224666700.0",
|
"enterprise_value": "3250203585.260",
|
"market_cap": "3226213812.000",
|
"normalized_eps": "0.4080570758817394834214416289",
|
"normalized_pe": "35.19115547493097319910634155",
|
"normalized_profit": "91676836.65",
|
"pb": "2.204688965863225314257306353",
|
"price": "14.36",
|
"ps": "3.312473650172047459424463971",
|
"reported_pe": "31.53229095674030591746696755",
|
"ttm_attributable_profit": "102314602.40",
|
"ttm_deduct_profit": "91676836.65",
|
"ttm_eps": "0.4554061745688168295523991762",
|
"ttm_revenue": "973959086.99"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-10637765.75",
|
"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": "0.718",
|
"implied_margin": "0.1656236825086023729712231985",
|
"implied_profit": "161310690.600",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.5744",
|
"implied_margin": "0.1324989460068818983769785588",
|
"implied_profit": "129048552.480",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.4786666666666666666666666667",
|
"implied_margin": "0.1104157883390682486474821324",
|
"implied_profit": "107540460.400",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.4102857142857142857142857143",
|
"implied_margin": "0.09464210429062992741212754203",
|
"implied_profit": "92177537.48571428571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.359",
|
"implied_margin": "0.08281184125430118648561159927",
|
"implied_profit": "80655345.300",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.2872",
|
"implied_margin": "0.06624947300344094918848927942",
|
"implied_profit": "64524276.240",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.2393333333333333333333333333",
|
"implied_margin": "0.05520789416953412432374106618",
|
"implied_profit": "53770230.200",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.1914666666666666666666666667",
|
"implied_margin": "0.04416631533562729945899285295",
|
"implied_profit": "43016184.160",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.1436",
|
"implied_margin": "0.03312473650172047459424463971",
|
"implied_profit": "32262138.120",
|
"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": "-0.00398709916636053",
|
"cagr_low": "-0.1380819630413883",
|
"equity_value_high": "3162408469.12",
|
"equity_value_low": "1534698227.70",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "14.07599999964391696677789810",
|
"price_low": "6.831",
|
"role": "pessimistic",
|
"upside_to_high": "-0.0197771587991701276617062604",
|
"upside_to_low": "-0.5243036211699164345403899721"
|
},
|
{
|
"assumption": "以TTM归一化利润与4家机构覆盖池预期为锚，按行业成长和周期属性定价。",
|
"cagr_high": "0.21542102773867522",
|
"cagr_low": "0.02891897995153636",
|
"equity_value_high": "8557105269.60",
|
"equity_value_low": "3720480552.00",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "38.088",
|
"price_low": "16.56",
|
"role": "base",
|
"upside_to_high": "1.652367688022284122562674095",
|
"upside_to_low": "0.153203342618384401114206128"
|
},
|
{
|
"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": "0.38129607166082513",
|
"cagr_low": "0.238811655296308",
|
"equity_value_high": "16222845406.95",
|
"equity_value_low": "9412815796.32",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "72.2085",
|
"price_low": "41.89679999893175090033369431",
|
"role": "optimistic",
|
"upside_to_high": "4.028447075208913649025069638",
|
"upside_to_low": "1.917604456750121928992597097"
|
}
|
]
|
}
|
