被评估单位：Beyerdynamic GmbH & Co. KG
金额单位：元
2023年度2024年度2025年1-5月2025年6-12月2026年度2027年度2028年度2029年度2030年度永续年度
一、营业总收入581,740,203.72676,570,733.28261,144,671.22473,680,378.71891,872,410.921,025,653,272.551,128,218,599.791,218,476,087.761,255,030,370.411,255,030,370.41 其中：营业收入581,740,203.72676,570,733.28261,144,671.22473,680,378.71891,872,410.921,025,653,272.551,128,218,599.791,218,476,087.761,255,030,370.411,255,030,370.41
二、营业总成本617,377,511.24602,677,799.46251,126,334.08435,553,045.23788,980,082.27889,524,965.34983,192,482.091,065,075,302.031,107,977,045.301,107,977,045.30 其中：营业成本307,622,129.88327,396,824.11113,526,379.88218,040,822.59417,594,435.43493,396,337.57560,959,672.49615,536,781.09642,033,682.56642,033,682.56 税金及附加678,476.66897,315.94262,919.13582,494.901,044,173.981,156,231.101,242,141.551,317,742.761,348,361.241,348,361.24 销售费用131,528,882.67120,138,908.8054,940,582.35108,078,210.09179,083,608.39196,152,984.13216,038,429.23236,560,026.95246,452,788.59246,452,788.59 管理费用105,720,895.2697,274,124.0255,091,455.2675,023,903.87134,015,469.66139,236,081.58142,516,316.42146,156,862.23149,607,044.94149,607,044.94 研发费用58,479,202.1750,881,751.5317,579,512.1133,827,613.7857,242,394.8159,583,330.9662,435,922.3965,503,889.0168,535,167.9768,535,167.97 财务费用13,347,924.596,088,875.069,725,485.35------- 加：其他收益--9,115.82-------
-186,047.60--------
| 投资收益（损失以“-”号填列） | 汇兑收益（损失以“-”号填列） |
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| 净敞口套期收益（损失以“-”号填列） | 公允价值变动收益（损失以“-”号填列） |
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-2,091,741.84-61,646.55-448,051.63-------
| 信用减值损失（损失以“-”号填列） | 资产减值损失（损失以“-”号填列） |
-1,586,799.63-1,645,709.854,836,920.86-------
-258,592.7111,982.74--------
三、营业利润（亏损以“-”号填列）-39,574,441.7072,383,607.7614,416,322.1838,127,333.48102,892,328.65136,128,307.21145,026,117.70153,400,785.73147,053,325.11147,053,325.11 加：营业外收入2,513,484.861,544,682.91793,808.69------- 减：营业外支出1,364,272.7097,367.30135,052.65-------
| 资产处置收益（损失以“-”号填列） | 四、利润总额（亏损总额以“-”号填列） |
-38,425,229.5473,830,923.3715,075,078.2238,127,333.48102,892,328.65136,128,307.21145,026,117.70153,400,785.73147,053,325.11147,053,325.11
减：所得税费用-2,842,561.669,743,384.292,387,023.209,207,932.1619,729,785.0525,107,300.8326,885,341.9028,334,196.2127,510,471.4327,510,471.43
五、净利润（净亏损以“-”号填列）-35,582,667.8864,087,539.0812,688,055.0228,919,401.3283,162,543.60111,021,006.38118,140,775.80125,066,589.52119,542,853.68119,542,853.68
-35,582,236.3864,087,570.7812,688,064.8128,919,401.3283,162,543.60111,021,006.38118,140,775.80125,066,589.52119,542,853.68119,542,853.68
| 1．归属于母公司股东的净利润（净亏损以“-”号填列） | 2．少数股东损益（净亏损以“-”号填列） |
-431.50-31.70-9.79
加：折旧与摊销15,169,848.1815,364,248.406,505,516.307,825,125.1820,819,965.2620,819,965.2620,819,965.2620,819,965.2620,819,965.2620,819,965.26经营现金流-20,412,388.2079,451,819.1819,193,581.1236,744,526.50103,982,508.85131,840,971.64138,960,741.06145,886,554.78140,362,818.93140,362,818.93加：税后付息债务利息9,936,374.387,800,195.983,379,910.61-------减：资本性支出---34,410,047.2619,848,904.0119,848,904.0119,848,904.0119,848,904.0119,848,904.0119,848,904.01减：营运资金增加（减少）109,334,543.2827,243,149.6630,738,806.73-3,266,403.6330,583,087.5232,742,628.9230,477,323.7924,977,053.0111,874,062.71-净现金流-119,810,557.1060,008,865.50-8,165,315.005,600,882.8753,550,517.3279,249,438.7188,634,513.25101,060,597.75108,639,852.21120,513,914.92折现年限0.29171.08332.08333.08334.08335.0833折现系数0.97210.90040.81730.74180.67340.61126.0098净现金流量现值5,444,618.2348,216,885.8064,770,566.2665,749,081.9368,054,206.5366,400,677.67724,264,525.89经营性资产现值之和加：溢余资产 非经营性资产 长期股权投资减：非经营性负债企业整体价值减：付息负债少数股东权益股东全部权益价值股东全部权益价值（万元）评估机构：银信资产评估有限公司
1,042,900,562.31
收益法计算表评估基准日：2025-05-31
项目名称
未来预测
156,597,475.47
888,000,000.00-364.7588,800.00-
12,398,516.75
-
10,984,131.93
1,044,314,947.13
市场法汇总表
评估基准日：2025/5/31
被评估单位：
beyerdynamic GmbH & Co. KG
金额单位：人民币万元
项目指标值
被评估单位比率乘数PE
21.34
净利润
6,244.05
主营业务价值PE（取整）
133,300.00
非流动性折扣比例
29.51%
非经营性资产净额
141.44
少数股东权益价值
0.04
市场法评估值（取整）
94,100.00
评估机构：银信资产评估有限公司