/ +IT23-4+82010359412312SMB3123SMB+2020-202258.22/80.03/103.899.00/12.30/15.81226.50927IT2.02018A2019A2020E2021E2022E3,2244,5905,8228,00310,389(+/-)%30.41%42.35%26.85%37.46%29.81%6037599001,2301,581(+/-)%5.19%25.80%18.62%36.62%28.54%1.471.862.203.013.8660.7661.6687.6564.1649.9110.6610.8315.1612.269.84(%)17.55%17.56%17.29%19.11%19.72%(%)0.00%0.00%0.00%0.00%0.00%()4034094094094092020/6/296226.50192.881288.66223.1078,874409A409B/H0/02-10%18%46%74%102%130%2019/72019/102020/12020/4%1M3M12M3%20%121%-4%9%113%3004543Q--201910250771--20200310S055051910000113810884820anyp@nesc.cnS055011911000215652991086 zhaowb@nesc.cnS055011911001218811346899 shaozy@nesc.cn3004542020-06-30
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3 / 39 1 ...................................................................................................................... 6 2 ............................................................................................................... 7 3 ........................................................................................................... 7 4 ............................................................................................................... 8 5 6Gartner ......................................................................................... 8 6 5CAGR37% ................................................................................................... 8 7 5CAGR27%....................................................................................................... 8 8 ...................................................................................................................... 9 9 201926%....................................................................................................... 9 10 ............................................................................................... 9 11 % .................................................................................. 9 12 ..............................................................................................10 13 2019 ...........................................................................................................10 14 20193.96 ................................................................................................10 15 ..........................................................................................................10 16 ROE .......................................................................................................... 11 17 ....................................................................... 11 18 2.0 ....................................................................................................................... 11 19 2.0 ...........................................................................................12 20 2.0 ...........................................................................................12 21 .....................................................................................................13 22 .....................................................................................................14 23 ................................................................................................................14 24 .........................................................................14 25 ................................................................
