Qian Jiang Water Resources DevelopmentLtd (SHSE:600283) Strong Profits May Be Masking Some Underlying Issues
Qian Jiang Water Resources DevelopmentLtd (SHSE:600283) Strong Profits May Be Masking Some Underlying Issues
The recent earnings posted by Qian Jiang Water Resources Development Co.,Ltd (SHSE:600283) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
Qian Jiang 水资源开发有限公司最近公布的财报, Ltd(上海证券交易所股票代码:600283)表现稳定,但该股的波动幅度没有我们预期的那么大。我们认为这是由于投资者将目光投向了法定利润之外并关注他们所看到的情况。
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The Impact Of Unusual Items On Profit
不寻常物品对利润的影响
To properly understand Qian Jiang Water Resources DevelopmentLtd's profit results, we need to consider the CN¥73m gain attributed to unusual items. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Qian Jiang Water Resources DevelopmentLtd's positive unusual items were quite significant relative to its profit in the year to December 2023. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
为了正确理解钱江水资源开发有限公司的利润业绩,我们需要考虑来自不寻常项目的7300万元人民币的收益。虽然我们希望看到利润增加,但当不寻常的物品做出重大贡献时,我们往往会更加谨慎一些。我们统计了全球大多数上市公司的数字,不寻常的物品在自然界中很常见。这正如你所预料的那样,因为这些增强被描述为 “不寻常”。我们可以看到,相对于截至2023年12月的一年中,钱江水资源开发有限公司的正面异常项目相对于其利润相当可观。因此,我们可以推测,这些不寻常的物品使其法定利润明显高于原来的水平。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Qian Jiang Water Resources DevelopmentLtd.
注意:我们始终建议投资者检查资产负债表的实力。点击此处查看我们对钱江水资源开发有限公司的资产负债表分析
Our Take On Qian Jiang Water Resources DevelopmentLtd's Profit Performance
我们对钱江水资源开发有限公司盈利表现的看法
As we discussed above, we think the significant positive unusual item makes Qian Jiang Water Resources DevelopmentLtd's earnings a poor guide to its underlying profitability. For this reason, we think that Qian Jiang Water Resources DevelopmentLtd's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. But at least holders can take some solace from the 49% per annum growth in EPS for the last three. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. If you want to do dive deeper into Qian Jiang Water Resources DevelopmentLtd, you'd also look into what risks it is currently facing. When we did our research, we found 3 warning signs for Qian Jiang Water Resources DevelopmentLtd (1 is a bit concerning!) that we believe deserve your full attention.
正如我们上面讨论的那样,我们认为这一重大利好不寻常的项目使Qian Jiang Water Resources DevelopmentLtd的收益无法衡量其潜在盈利能力。出于这个原因,我们认为Qian Jiang Water Resources DevelopmentLtd的法定利润可能不利于其潜在盈利能力,并可能使投资者对公司产生过于积极的印象。但是,至少持有人可以从过去三年的每股收益每年增长49%中得到一些安慰。当然,我们只是在分析其收益时才浮出水面;人们还可以考虑利润率、预测增长和投资回报率等因素。如果你想更深入地了解钱江水资源开发有限公司,你还需要研究它目前面临的风险。当我们进行研究时,我们发现了 Qian Jiang Water Resources DevelopmentLtd 的 3 个警告信号(1 个有点令人担忧!)我们认为值得你全神贯注。
This note has only looked at a single factor that sheds light on the nature of Qian Jiang Water Resources DevelopmentLtd's profit. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying to be useful.
这份报告只考虑了揭示钱江水资源开发有限公司利润性质的单一因素。但是,还有很多其他方法可以让你对公司的看法。例如,许多人认为高股本回报率是有利的商业经济的标志,而另一些人则喜欢 “关注资金”,寻找内部人士正在买入的股票。虽然可能需要你进行一些研究,但你可能会发现这份免费收集的拥有高股本回报率的公司,或者这份内部人士正在购买的股票清单很有用。
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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。