China Harzone Industry Corp., Ltd's (SZSE:300527) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
China Harzone Industry Corp., Ltd's (SZSE:300527) Stock Is Rallying But Financials Look Ambiguous: Will The Momentum Continue?
China Harzone Industry's (SZSE:300527) stock is up by a considerable 10% over the past three months. However, we decided to pay attention to the company's fundamentals which don't appear to give a clear sign about the company's financial health. Particularly, we will be paying attention to China Harzone Industry's ROE today.
中国哈特兰实业(深圳证券交易所股票代码:300527)的股票在过去三个月中大幅上涨了10%。然而,我们决定关注该公司的基本面,这些基本面似乎并未给出该公司财务健康状况的明确迹象。今天我们特别关注中国哈泽实业的净资产收益率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回报率(ROE)是用来评估公司管理层利用公司资本效率的关键指标。换句话说,它揭示了该公司成功地将股东投资转化为利润。
See our latest analysis for China Harzone Industry
请看我们对中国哈特兰行业的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的?
Return on equity can be calculated by using the formula:
股本回报率可使用以下公式计算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润?股东权益
So, based on the above formula, the ROE for China Harzone Industry is:
因此,根据上述公式,中国哈泽产业的净资产收益率为:
1.8% = CN¥51m ÷ CN¥2.9b (Based on the trailing twelve months to March 2023).
1.8%=CN元5100万×CN元29亿元(基于截至2023年3月的12个月)。
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.02 in profit.
“回报”指的是一家公司过去一年的收益。另一种说法是,公司每持有价值1元的股权,就能赚取0.02元的利润。
Why Is ROE Important For Earnings Growth?
为什么净资产收益率对收益增长很重要?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前为止,我们了解到净资产收益率是衡量一家公司盈利能力的指标。根据公司选择再投资或“保留”多少利润,我们就能够评估一家公司未来产生利润的能力。假设其他条件相同,与没有相同特征的公司相比,拥有更高股本回报率和更高利润保留率的公司通常会有更高的增长率。
China Harzone Industry's Earnings Growth And 1.8% ROE
中国哈特兰实业盈利增长及净资产收益率1.8%
It is quite clear that China Harzone Industry's ROE is rather low. Even compared to the average industry ROE of 7.5%, the company's ROE is quite dismal. Therefore, it might not be wrong to say that the five year net income decline of 39% seen by China Harzone Industry was possibly a result of it having a lower ROE. However, there could also be other factors causing the earnings to decline. Such as - low earnings retention or poor allocation of capital.
很明显,中国哈泽实业的净资产收益率相当低。即使与行业平均7.5%的净资产收益率相比,该公司的净资产收益率也相当惨淡。因此,可以说,中国哈泽实业五年净利润下降39%可能是由于其净资产收益率较低所致。然而,也可能有其他因素导致收益下降。例如-低收益留存或资本分配不佳。
That being said, we compared China Harzone Industry's performance with the industry and were concerned when we found that while the company has shrunk its earnings, the industry has grown its earnings at a rate of 11% in the same 5-year period.
话虽如此,我们将中国哈特兰实业的业绩与行业进行了比较,当我们发现该公司在盈利缩水的同时,该行业在相同的5年内以11%的速度增长了盈利,这让我们感到担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20230801/0-bf035a92735795a370941d1a4d3abe2b-0-f412d3008673768f9518bac31d7ec508.png/big)
Earnings growth is an important metric to consider when valuing a stock. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. Doing so will help them establish if the stock's future looks promising or ominous. Is China Harzone Industry fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是评估一只股票时需要考虑的一个重要指标。投资者应该尝试确定预期的收益增长或下降是否已计入价格,无论是哪种情况。这样做将有助于他们确定该股的未来看起来是光明的还是不祥的。与其他公司相比,中国哈特兰实业的估值是否公平?这3个估值指标可能会帮助你做出决定。
Is China Harzone Industry Using Its Retained Earnings Effectively?
中国哈特兰实业是否有效利用其留存收益?
Despite having a normal three-year median payout ratio of 27% (where it is retaining 73% of its profits), China Harzone Industry has seen a decline in earnings as we saw above. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
尽管中国哈特兰工业的正常三年中值派息率为27%(它保留了73%的利润),但正如我们上面看到的那样,它的收益出现了下降。看起来可能还有其他一些原因来解释这方面的缺乏。例如,这项业务可能正在衰落。
Additionally, China Harzone Industry has paid dividends over a period of six years, which means that the company's management is rather focused on keeping up its dividend payments, regardless of the shrinking earnings.
此外,中国哈特兰实业已在六年内派发股息,这意味着公司管理层更专注于保持股息支付,而不考虑收益的缩水。
Summary
摘要
In total, we're a bit ambivalent about China Harzone Industry's performance. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. Our risks dashboard would have the 3 risks we have identified for China Harzone Industry.
总体而言,我们对中国哈特兰实业的表现有点矛盾。尽管它似乎保留了大部分利润,但鉴于净资产收益率较低,投资者可能终究不会从所有这些再投资中受益。低收益增长率表明我们的理论是正确的。总而言之,我们将谨慎对待这家公司,其中一种方法是查看业务的风险概况。我们的Risks仪表板将包含我们为中国Harzone Industry确定的3个风险。
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本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。