Could The Market Be Wrong About Zhe Kuang Heavy Industry Co.,Ltd. (SZSE:300837) Given Its Attractive Financial Prospects?
Could The Market Be Wrong About Zhe Kuang Heavy Industry Co.,Ltd. (SZSE:300837) Given Its Attractive Financial Prospects?
It is hard to get excited after looking at Zhe Kuang Heavy IndustryLtd's (SZSE:300837) recent performance, when its stock has declined 28% over the past month. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Zhe Kuang Heavy IndustryLtd's ROE today.
看了哲光重工有限公司（深圳证券交易所代码：300837）最近的表现，很难感到兴奋，当时该公司的股票在过去一个月中下跌了28％。但是，仔细观察其良好的财务状况可能会让你重新考虑。鉴于基本面通常会推动长期市场业绩，该公司值得关注。特别是，我们今天将关注哲光重工有限公司的投资回报率。
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.
股本回报率或投资回报率是用于评估公司管理层利用公司资本效率的关键指标。换句话说，它揭示了公司成功地将股东投资转化为利润。
How Do You Calculate Return On Equity?
你如何计算股本回报率？
The formula for ROE is:
ROE 的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for Zhe Kuang Heavy IndustryLtd is:
因此，根据上述公式，哲光重工有限公司的投资回报率为：
12% = CN¥176m ÷ CN¥1.4b (Based on the trailing twelve months to September 2023).
12% = 1.76亿元人民币 ÷ 14亿元人民币（基于截至2023年9月的过去十二个月）。
The 'return' is the yearly profit. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.12 in profit.
“回报” 是每年的利润。这意味着，公司每获得价值1元人民币的股东权益，就会产生0.12元人民币的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系？
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 everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
到目前为止，我们已经了解到，投资回报率是衡量公司盈利能力的指标。根据公司选择将多少利润进行再投资或 “保留”，我们便能够评估公司未来创造利润的能力。假设其他一切保持不变，那么与不一定具有这些特征的公司相比，投资回报率和利润保留率越高，公司的增长率就越高。
A Side By Side comparison of Zhe Kuang Heavy IndustryLtd's Earnings Growth And 12% ROE
哲矿重工的收益增长和12％的投资回报率的并排比较
At first glance, Zhe Kuang Heavy IndustryLtd seems to have a decent ROE. Especially when compared to the industry average of 7.6% the company's ROE looks pretty impressive. Probably as a result of this, Zhe Kuang Heavy IndustryLtd was able to see a decent growth of 18% over the last five years.
乍一看，哲光重工有限公司的投资回报率似乎不错。特别是与7.6％的行业平均水平相比，该公司的投资回报率看起来相当可观。可能是由于这个原因，哲光重工有限公司得以在过去五年中实现了18％的可观增长。
As a next step, we compared Zhe Kuang Heavy IndustryLtd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 12%.
下一步，我们将哲光重工的净收入增长与该行业进行了比较，令人高兴的是，我们发现该公司的增长高于行业平均12％的增长。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. If you're wondering about Zhe Kuang Heavy IndustryLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
为公司附加价值的基础在很大程度上与其收益增长息息相关。对于投资者来说，重要的是要知道市场是否对公司的预期收益增长（或下降）进行了定价。这样做将帮助他们确定股票的未来是乐观还是不祥的。如果你想知道哲光重工有限公司的估值，可以看看这个衡量其与行业相比的市盈率指标。
Is Zhe Kuang Heavy IndustryLtd Using Its Retained Earnings Effectively?
浙光重工有限公司是否在有效使用其留存收益？
In Zhe Kuang Heavy IndustryLtd's case, its respectable earnings growth can probably be explained by its low three-year median payout ratio of 18% (or a retention ratio of 82%), which suggests that the company is investing most of its profits to grow its business.
就哲光重工有限公司而言，其可观的收益增长可能是由其三年中位数派息率低至18％（或82％的留存率）来解释，这表明该公司正在将大部分利润投资于业务增长。
Besides, Zhe Kuang Heavy IndustryLtd has been paying dividends over a period of three years. This shows that the company is committed to sharing profits with its shareholders.
此外，哲光重工有限公司已经在三年内派发了股息。这表明该公司致力于与股东分享利润。
Conclusion
结论
In total, we are pretty happy with Zhe Kuang Heavy IndustryLtd's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. With that said, the latest industry analyst forecasts reveal that the company's earnings are expected to accelerate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说，我们对哲光重工有限公司的表现非常满意。特别是，很高兴看到该公司正在对其业务进行大量投资，再加上高回报率，这为其收益带来了可观的增长。话虽如此，最新的行业分析师预测显示，该公司的收益有望加速。要详细了解分析师对公司的最新预测，请查看该公司的分析师预测的可视化。
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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根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。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，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。