{
|
"conclusion": {
|
"base_midpoint": "38.50600000000000174707019576",
|
"price_label": "当前价格处于基准合理区间",
|
"price_position": "WITHIN_BASE_RANGE",
|
"safety_margin_to_base_midpoint": "0.3847712044876123480716743420"
|
},
|
"engine_version": "1.0.0",
|
"holding_period": {
|
"cumulative_dividend_per_share": "0",
|
"required_exit_price": "38.1529819",
|
"required_profit_by_exit_pe": [
|
{
|
"exit_pe": "10",
|
"required_profit": "5022800948.88265793"
|
},
|
{
|
"exit_pe": "12",
|
"required_profit": "4185667457.402214941666666667"
|
},
|
{
|
"exit_pe": "15",
|
"required_profit": "3348533965.921771953333333333"
|
},
|
{
|
"exit_pe": "18",
|
"required_profit": "2790444971.601476627777777778"
|
},
|
{
|
"exit_pe": "20",
|
"required_profit": "2511400474.441328965"
|
},
|
{
|
"exit_pe": "25",
|
"required_profit": "2009120379.553063172"
|
},
|
{
|
"exit_pe": "30",
|
"required_profit": "1674266982.960885976666666667"
|
},
|
{
|
"exit_pe": "35",
|
"required_profit": "1435085985.395045122857142857"
|
},
|
{
|
"exit_pe": "40",
|
"required_profit": "1255700237.2206644825"
|
},
|
{
|
"exit_pe": "50",
|
"required_profit": "1004560189.776531586"
|
},
|
{
|
"exit_pe": "60",
|
"required_profit": "837133491.4804429883333333333"
|
},
|
{
|
"exit_pe": "75",
|
"required_profit": "669706793.1843543906666666667"
|
},
|
{
|
"exit_pe": "100",
|
"required_profit": "502280094.888265793"
|
}
|
],
|
"required_return": "0.1",
|
"years": 5
|
},
|
"institutions": {
|
"coverage_status": "available",
|
"detail": [
|
{
|
"core_assumption": "C1汇总快照缺逐家报告日期；仅作市场预期锚，不替代法定利润。",
|
"estimates": {
|
"2026": {
|
"eps": "1.3",
|
"mark": "E",
|
"profit": "1711436671.1000001"
|
},
|
"2027": {
|
"eps": "1.48",
|
"mark": "E",
|
"profit": "1948404825.56"
|
},
|
"2028": {
|
"eps": "1.72",
|
"mark": "E",
|
"profit": "2264362364.84"
|
}
|
},
|
"included": true,
|
"institution": "东方财富公开一致预期汇总（覆盖池5家）",
|
"report_date": "2026-08-13",
|
"source_id": "SRC-EM-CONSENSUS-20260813",
|
"statuses": [
|
"CURRENT"
|
]
|
}
|
],
|
"summary": {
|
"2026": {
|
"eps_mean": "1.3",
|
"eps_profit_reconciliation_gap": "0.00000000000000005843044132957984866271331764",
|
"institution_count": 1,
|
"pe_on_mean": "18.22307692307692201214064992",
|
"profit_max": "1711436671.1000001",
|
"profit_mean": "1711436671.1000001",
|
"profit_median": "1711436671.1000001",
|
"profit_min": "1711436671.1000001"
|
},
|
"2027": {
|
"eps_mean": "1.48",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "16.00675675675675675675675676",
|
"profit_max": "1948404825.56",
|
"profit_mean": "1948404825.56",
|
"profit_median": "1948404825.56",
|
"profit_min": "1948404825.56"
|
},
|
"2028": {
|
"eps_mean": "1.72",
|
"eps_profit_reconciliation_gap": "0.0",
|
"institution_count": 1,
|
"pe_on_mean": "13.77325581395348837209302326",
|
"profit_max": "2264362364.84",
|
"profit_mean": "2264362364.84",
|
"profit_median": "2264362364.84",
|
"profit_min": "2264362364.84"
|
}
|
}
|
},
|
"meta": {
|
"as_of_date": "2026-08-13",
|
"code": "000887.SZ",
|
"company": "中鼎股份",
|
"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": "1.360212393882199275870060149",
|
"annual_fcf": "1180662312.34",
|
"book_value_per_share": "11.13080538265673253283604950",
|
"current_fcf": "153805148.80",
|
"deduct_pe": "29.00217140918697499558843994",
|
"diluted_shares": "1316489747.0",
|
"enterprise_value": "33036325053.530",
|
"market_cap": "31187642106.430",
|
"normalized_eps": "0.8168353902113601952723753343",
|
"normalized_pe": "29.00217140918697877136706729",
|
"normalized_profit": "1075355416.19999986",
|
"pb": "2.128327572496429984082316135",
|
"price": "23.69",
|
"ps": "1.613840098356321209808051038",
|
"reported_pe": "20.66955681385148254009371167",
|
"ttm_attributable_profit": "1508868447.80",
|
"ttm_deduct_profit": "1075355416.20",
|
"ttm_eps": "1.146130041072017555181157062",
|
"ttm_revenue": "19325112901.95"
|
},
|
"normalization_adjustments": [
|
{
|
"amount": "-433513031.60000014",
|
"basis": "2025年报+2026最新累计期-2025同期",
|
"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": "2.369",
|
"implied_margin": "0.1613840098356321209808051038",
|
"implied_profit": "3118764210.643",
|
"pe": "10"
|
},
|
{
|
"implied_eps": "1.974166666666666666666666667",
|
"implied_margin": "0.1344866748630267674840042532",
|
"implied_profit": "2598970175.535833333333333333",
|
"pe": "12"
|
},
|
{
|
"implied_eps": "1.579333333333333333333333333",
|
"implied_margin": "0.1075893398904214139872034026",
|
"implied_profit": "2079176140.428666666666666667",
|
"pe": "15"
|
},
|
{
|
"implied_eps": "1.316111111111111111111111111",
|
"implied_margin": "0.08965778324201784498933616881",
|
"implied_profit": "1732646783.690555555555555556",
|
"pe": "18"
|
},
|
{
|
"implied_eps": "1.1845",
|
"implied_margin": "0.08069200491781606049040255191",
|
"implied_profit": "1559382105.3215",
|
"pe": "20"
|
},
|
{
|
"implied_eps": "0.9476",
|
"implied_margin": "0.06455360393425284839232204153",
|
"implied_profit": "1247505684.2572",
|
"pe": "25"
|
},
|
{
|
"implied_eps": "0.7896666666666666666666666667",
|
"implied_margin": "0.05379466994521070699360170125",
|
"implied_profit": "1039588070.214333333333333333",
|
"pe": "30"
|
},
|
{
|
"implied_eps": "0.6768571428571428571428571429",
|
"implied_margin": "0.04610971709589489170880145823",
|
"implied_profit": "891075488.7551428571428571429",
|
"pe": "35"
|
},
|
{
|
"implied_eps": "0.59225",
|
"implied_margin": "0.04034600245890803024520127595",
|
"implied_profit": "779691052.66075",
|
"pe": "40"
|
},
|
{
|
"implied_eps": "0.4738",
|
"implied_margin": "0.03227680196712642419616102076",
|
"implied_profit": "623752842.1286",
|
"pe": "50"
|
},
|
{
|
"implied_eps": "0.3948333333333333333333333333",
|
"implied_margin": "0.02689733497260535349680085064",
|
"implied_profit": "519794035.1071666666666666667",
|
"pe": "60"
|
},
|
{
|
"implied_eps": "0.3158666666666666666666666667",
|
"implied_margin": "0.02151786797808428279744068051",
|
"implied_profit": "415835228.0857333333333333333",
|
"pe": "75"
|
},
|
{
|
"implied_eps": "0.2369",
|
"implied_margin": "0.01613840098356321209808051038",
|
"implied_profit": "311876421.0643",
|
"pe": "100"
|
}
|
],
|
"scenarios": [
|
{
|
"assumption": "需求、价格、订单或验收低于预期，利润下修且估值回归行业低位。",
|
"cagr_high": "-0.028289981312988655",
|
"cagr_low": "-0.16825314274891767",
|
"equity_value_high": "27018793013.9899269",
|
"equity_value_low": "12414761612.1594015",
|
"method": "pe",
|
"name": "悲观",
|
"price_high": "20.52336000000000524121058726",
|
"price_low": "9.430200000000001139393605927",
|
"role": "pessimistic",
|
"upside_to_high": "-0.1336699029126211379818240920",
|
"upside_to_low": "-0.6019333051920641139977371918"
|
},
|
{
|
"assumption": "以TTM扣非利润与5家机构覆盖池预期为锚，按业务质量和周期属性定价。",
|
"cagr_high": "0.17778405001582587",
|
"cagr_low": "-0.003126282384740664",
|
"equity_value_high": "70682334516.430",
|
"equity_value_low": "30703173879.5340046",
|
"method": "pe",
|
"name": "基准",
|
"price_high": "53.69",
|
"price_low": "23.32200000000000349414039151",
|
"role": "base",
|
"upside_to_high": "1.266357112705783030814689743",
|
"upside_to_low": "-0.0155339805825241243503422748"
|
},
|
{
|
"assumption": "订单、产品结构、良率或规模效应超预期，利润与估值中枢同步上移。",
|
"cagr_high": "0.3490308393676085",
|
"cagr_low": "0.2004503585919879",
|
"equity_value_high": "139345173760.9619850",
|
"equity_value_low": "77750567968.0730",
|
"method": "pe",
|
"name": "乐观",
|
"price_high": "105.8459999999999886060639407",
|
"price_low": "59.059",
|
"role": "optimistic",
|
"upside_to_high": "3.467961165048543208360656003",
|
"upside_to_low": "1.492992823976361333896158717"
|
}
|
]
|
}
|
