JoyoungLtd may be maturing or facing margin pressure due to ...

JoyoungLtd may be maturing or facing margin pressure due to competition, indicated by declining ROCE and steady capital employed. The rise in current liabilities suggests suppliers or short-term creditors are funding a large part of the business, introducing risks. These trends may not be conducive to creating a multi-bagger, and the market might not like these trends either.