Shareholders Will Be Pleased With The Quality of AnHui Jinchun Nonwoven's (SZSE:300877) Earnings
Shareholders Will Be Pleased With The Quality of AnHui Jinchun Nonwoven's (SZSE:300877) Earnings
AnHui Jinchun Nonwoven Co., Ltd. (SZSE:300877) just reported healthy earnings but the stock price didn't move much. Investors are probably missing some underlying factors which are encouraging for the future of the company.
安徽金春无纺股份有限公司(深交所股票代码:300877)刚刚公布了健康的收益,但股价没有太大变动。投资者可能遗漏了一些对公司未来来说令人鼓舞的潜在因素。
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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 AnHui Jinchun Nonwoven's profit results, we need to consider the CN¥6.5m expense attributed to unusual items. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And that's hardly a surprise given these line items are considered unusual. AnHui Jinchun Nonwoven took a rather significant hit from unusual items in the year to March 2024. As a result, we can surmise that the unusual items made its statutory profit significantly weaker than it would otherwise be.
为了正确了解安徽金春无纺布的利润业绩,我们需要考虑归因于不寻常物品的650万元人民币支出。尽管由于不寻常项目而产生的扣除首先令人失望,但有一线希望。当我们分析全球绝大多数上市公司时,我们发现重大不寻常的事项往往不会重演。鉴于这些单列项目被认为不寻常,这并不奇怪。在截至2024年3月的一年中,安徽金春无纺布因不寻常的物品而遭受了相当大的打击。因此,我们可以推测,这些不寻常的物品使其法定利润明显低于原来的水平。
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
这可能会让你想知道分析师对未来盈利能力的预测。幸运的是,您可以单击此处查看根据他们的估计描绘未来盈利能力的交互式图表。
An Unusual Tax Situation
不寻常的税收状况
Just as we noted the unusual items, we must inform you that AnHui Jinchun Nonwoven received a tax benefit which contributed CN¥1.5m to the bottom line. This is meaningful because companies usually pay tax rather than receive tax benefits. The receipt of a tax benefit is obviously a good thing, on its own. And given that it lost money last year, it seems possible that the benefit is evidence that it now expects to find value in its past tax losses. However, our data indicates that tax benefits can temporarily boost statutory profit in the year it is booked, but subsequently profit may fall back. Assuming the tax benefit is not repeated every year, we could see its profitability drop noticeably, all else being equal.
正如我们注意到这些不寻常的物品一样,我们必须通知您,安徽金春无纺布获得了税收优惠,为利润贡献了150万元人民币。这是有意义的,因为公司通常纳税而不是获得税收优惠。获得税收优惠本身显然是一件好事。而且,鉴于它去年亏损,这种好处似乎有可能证明它现在有望从过去的税收损失中找到价值。但是,我们的数据表明,税收优惠可以暂时增加账面当年的法定利润,但随后利润可能会回落。假设每年都不重复享受税收优惠,在其他条件相同的情况下,我们可能会看到其盈利能力明显下降。
Our Take On AnHui Jinchun Nonwoven's Profit Performance
我们对安徽金春无纺布盈利表现的看法
In its last report AnHui Jinchun Nonwoven received a tax benefit which might make its profit look better than it really is on a underlying level. But on the other hand, it also saw an unusual item depress its profit. Based on these factors, we think that AnHui Jinchun Nonwoven's profits are a reasonably conservative guide to its underlying profitability. If you want to do dive deeper into AnHui Jinchun Nonwoven, you'd also look into what risks it is currently facing. While conducting our analysis, we found that AnHui Jinchun Nonwoven has 1 warning sign and it would be unwise to ignore this.
在上一份报告中,安徽金春无纺布获得了税收优惠,这可能会使其利润看起来比实际水平要好。但另一方面,它也看到一件不寻常的物品抑制了其利润。基于这些因素,我们认为安徽金春无纺布的利润是衡量其潜在盈利能力的相当保守的指南。如果你想更深入地了解安徽金春无纺布,你还需要研究它目前面临的风险。在进行分析时,我们发现安徽金春无纺布有1个警告信号,忽视这一点是不明智的。
In this article we've looked at a number of factors that can impair the utility of profit numbers, as a guide to a business. But there is always more to discover if you are capable of focussing your mind on minutiae. 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.
在本文中,我们研究了许多可能削弱利润数字效用的因素,以此作为业务指南。但是,如果你能够将注意力集中在细节上,总会有更多值得发现的地方。例如,许多人认为高股本回报率表明商业经济状况良好,而另一些人则喜欢 “追随资金”,寻找内部人士正在购买的股票。尽管可能需要代表你进行一些研究,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。