Shareholders in Zhejiang Jihua Group (SHSE:603980) Have Lost 43%, as Stock Drops 11% This Past Week
Shareholders in Zhejiang Jihua Group (SHSE:603980) Have Lost 43%, as Stock Drops 11% This Past Week
For many, the main point of investing is to generate higher returns than the overall market. But even the best stock picker will only win with some selections. So we wouldn't blame long term Zhejiang Jihua Group Co., Ltd. (SHSE:603980) shareholders for doubting their decision to hold, with the stock down 52% over a half decade. And the share price decline continued over the last week, dropping some 11%. However, this move may have been influenced by the broader market, which fell 6.3% in that time.
对于许多人来说,投资的主要目的是产生比整个市场更高的回报。但是,即使是最好的选股者也只能通过以下方式获胜 一些 选择。因此,我们不会指责浙江际华集团有限公司(SHSE: 603980)的长期股东怀疑他们的持股决定,该股在五年内下跌了52%。上周股价继续下跌,下跌了约11%。但是,这一举动可能受到大盘的影响,当时大盘下跌了6.3%。
Since Zhejiang Jihua Group has shed CN¥371m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
由于浙江际华集团在过去7天内已从其市值减少了3.71亿元人民币,让我们看看长期下跌是否是由该企业的经济推动的。
See our latest analysis for Zhejiang Jihua Group
查看我们对浙江际华集团的最新分析
Given that Zhejiang Jihua Group didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.
鉴于浙江际华集团在过去十二个月中没有盈利,我们将专注于收入增长,以快速了解其业务发展。一般而言,没有利润的公司预计每年收入将增长,而且速度很快。可以想象,收入的快速增长如果持续下去,通常会带来利润的快速增长。
In the last five years Zhejiang Jihua Group saw its revenue shrink by 10% per year. That puts it in an unattractive cohort, to put it mildly. It seems appropriate, then, that the share price slid about 9% annually during that time. We don't generally like to own companies that lose money and don't grow revenues. You might be better off spending your money on a leisure activity. You'd want to research this company pretty thoroughly before buying, it looks a bit too risky for us.
在过去的五年中,浙江际华集团的收入每年萎缩10%。客气地说,这使它成为一个没有吸引力的群体。因此,在此期间,股价每年下跌约9%似乎是恰当的。我们通常不喜欢拥有亏损且收入不增长的公司。你最好把钱花在休闲活动上。在收购之前,你需要对这家公司进行彻底的研究,这对我们来说看起来有点太冒险了。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(一段时间内)如下图所示(点击查看确切数字)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240124/0-f6b1d7d3ccae08c336933a1644632a25-0-28ffc0d60736c9b3a667deb194b4bc8d.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
您可以在这张免费的交互式图片中看到其资产负债表如何随着时间的推移而增强(或减弱)。
What About Dividends?
那股息呢?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Zhejiang Jihua Group, it has a TSR of -43% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
除了衡量股价回报率外,投资者还应考虑股东总回报率(TSR)。尽管股价回报率仅反映股价的变化,但股东总回报率包括股息的价值(假设已进行再投资)以及任何折扣融资或分拆的收益。因此,对于支付丰厚股息的公司来说,股东总回报率通常远高于股价回报率。以浙江际华集团为例,过去5年的股东总回报率为-43%。这超过了我们之前提到的其股价回报率。而且,猜测股息支付在很大程度上解释了这种分歧是没有好处的!
A Different Perspective
不同的视角
While it's never nice to take a loss, Zhejiang Jihua Group shareholders can take comfort that , including dividends,their trailing twelve month loss of 11% wasn't as bad as the market loss of around 21%. Given the total loss of 7% per year over five years, it seems returns have deteriorated in the last twelve months. While some investors do well specializing in buying companies that are struggling (but nonetheless undervalued), don't forget that Buffett said that 'turnarounds seldom turn'. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. To that end, you should be aware of the 2 warning signs we've spotted with Zhejiang Jihua Group .
尽管亏损从来都不是一件好事,但浙江际华集团的股东可以放心,包括股息在内,他们过去十二个月的11%亏损没有市场损失约21%的那么严重。鉴于五年来每年的总损失为7%,在过去的十二个月中,回报似乎有所恶化。尽管一些投资者在专门收购陷入困境(但仍被低估)的公司方面表现良好,但不要忘记巴菲特说过 “转机很少会转机”。尽管市场状况可能对股价产生的不同影响值得考虑,但还有其他因素更为重要。为此,你应该注意我们在浙江际华集团发现的两个警告信号。
But note: Zhejiang Jihua Group may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast).
但请注意:浙江际华集团可能不是最值得买入的股票。因此,来看看这份过去盈利增长(以及进一步增长预测)的有趣公司的免费清单。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
请注意,本文引用的市场回报反映了目前在中国交易所交易的股票的市场加权平均回报率。
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Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。