Henan Ancai Hi-Tech Co.,Ltd's (SHSE:600207) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Henan Ancai Hi-Tech Co.,Ltd's (SHSE:600207) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
With its stock down 32% over the past three months, it is easy to disregard Henan Ancai Hi-TechLtd (SHSE:600207). However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Henan Ancai Hi-TechLtd's ROE.
河南安彩高科股份有限公司（上海证券交易所股票代码：600207）的股票在过去三个月中下跌了32％，这很容易被忽视。但是，从长远来看，股票价格通常由公司的财务状况驱动，在这种情况下，这看起来相当可观。在这篇文章中，我们决定重点关注河南安彩高科股份有限公司的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. 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对公司增值和管理投资者资金的有效性的考验。换句话说，它揭示了公司成功地将股东投资转化为利润。
How To Calculate Return On Equity?
如何计算股本回报率？
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算：
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 Henan Ancai Hi-TechLtd is:
因此，根据上述公式，河南安彩高科股份有限公司的投资回报率为：
1.9% = CN¥64m ÷ CN¥3.3b (Based on the trailing twelve months to September 2023).
1.9% = 6400万元人民币 ÷ 33亿元人民币（基于截至2023年9月的过去十二个月）。
The 'return' is the amount earned after tax over the last twelve months. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.02 in profit.
“回报” 是过去十二个月的税后收入。将其概念化的一种方法是，公司每拥有1元人民币的股东资本，就能获得0.02元的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前为止，我们已经了解到，投资回报率衡量的是公司创造利润的效率。现在，我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长，从而使我们对公司的增长潜力有所了解。一般而言，在其他条件相同的情况下，股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
Henan Ancai Hi-TechLtd's Earnings Growth And 1.9% ROE
河南安彩高科技有限公司的收益增长和1.9％的投资回报率
As you can see, Henan Ancai Hi-TechLtd's ROE looks pretty weak. Even when compared to the industry average of 6.7%, the ROE figure is pretty disappointing. However, we we're pleasantly surprised to see that Henan Ancai Hi-TechLtd grew its net income at a significant rate of 49% in the last five years. Therefore, there could be other reasons behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
如你所见，河南安彩高科股份有限公司的投资回报率看起来相当疲软。即使与6.7％的行业平均水平相比，投资回报率的数字也相当令人失望。但是，我们惊喜地看到，河南安彩高科股份有限公司在过去五年中净收入大幅增长了49％。因此，这种增长背后可能还有其他原因。例如，该公司的派息率较低或管理效率很高。
Next, on comparing with the industry net income growth, we found that Henan Ancai Hi-TechLtd's growth is quite high when compared to the industry average growth of 11% in the same period, which is great to see.
接下来，与行业净收入增长相比，我们发现，与同期行业平均增长11％相比，河南安彩高科的增长相当高，这真是令人欣喜。
Earnings growth is a huge factor in stock valuation. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. This then helps them determine if the stock is placed for a bright or bleak future. Is Henan Ancai Hi-TechLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增长是股票估值的重要因素。投资者接下来需要确定的是，预期的收益增长或缺乏收益是否已经包含在股价中。然后，这可以帮助他们确定股票是面向光明还是暗淡的未来。与其他公司相比，河南安彩高科技有限公司的估值是否合理？这3种估值指标可能会帮助您做出决定。
Is Henan Ancai Hi-TechLtd Making Efficient Use Of Its Profits?
河南安彩高科技股份有限公司是否在有效利用其利润？
Given that Henan Ancai Hi-TechLtd doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鉴于河南安彩高科不向其股东支付任何股息，我们推断该公司一直在将其所有利润再投资以发展业务。
Conclusion
结论
On the whole, we do feel that Henan Ancai Hi-TechLtd has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. 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，我们确实认为河南安彩高科技有限公司具有一些积极的属性。尽管回报率很低，但由于对业务进行了大量再投资，该公司的收益增长令人印象深刻。既然如此，分析师的最新预测显示，该公司的收益将继续扩大。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。