Shandong Ruifeng Chemical (SZSE:300243) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
Shandong Ruifeng Chemical (SZSE:300243) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of
Shandong Ruifeng Chemical Co., Ltd. (SZSE:300243) announced strong profits, but the stock was stagnant. We did some digging, and we found some concerning factors in the details.
山东瑞丰化工有限公司（SZSE: 300243）宣布盈利强劲，但该股停滞不前。我们进行了一些挖掘，在细节中发现了一些相关的因素。
One essential aspect of assessing earnings quality is to look at how much a company is diluting shareholders. As it happens, Shandong Ruifeng Chemical issued 7.8% more new shares over the last year. Therefore, each share now receives a smaller portion of profit. To talk about net income, without noticing earnings per share, is to be distracted by the big numbers while ignoring the smaller numbers that talk to per share value. You can see a chart of Shandong Ruifeng Chemical's EPS by clicking here.
评估收益质量的一个重要方面是研究一家公司在多大程度上稀释了股东。碰巧的是，山东瑞丰化工发行的新股比去年增加了7.8％。因此，每股现在获得的利润比例较小。在不注意每股收益的情况下谈论净收益，就是被大数字分散注意力，而忽略与之交谈的较小数字 每股 价值。您可以点击此处查看山东瑞丰化工的每股收益图表。
How Is Dilution Impacting Shandong Ruifeng Chemical's Earnings Per Share (EPS)?
稀释如何影响山东瑞丰化工的每股收益（EPS）？
Shandong Ruifeng Chemical's net profit dropped by 27% per year over the last three years. The good news is that profit was up 63% in the last twelve months. On the other hand, earnings per share are only up 58% over the same period. Therefore, the dilution is having a noteworthy influence on shareholder returns.
在过去三年中，山东瑞丰化工的净利润每年下降27％。好消息是，在过去的十二个月中，利润增长了63％。另一方面，收益 每股 同期仅上涨了58％。因此，稀释对股东回报产生了显著影响。
In the long term, earnings per share growth should beget share price growth. So it will certainly be a positive for shareholders if Shandong Ruifeng Chemical can grow EPS persistently. However, if its profit increases while its earnings per share stay flat (or even fall) then shareholders might not see much benefit. For the ordinary retail shareholder, EPS is a great measure to check your hypothetical "share" of the company's profit.
从长远来看，收益 每股 增长应该带来股价的增长。因此，如果山东瑞丰化工能够持续增长每股收益，这对股东来说肯定是利好的。但是，如果其利润增加而每股收益保持不变（甚至下降），那么股东可能看不到太多好处。对于普通零售股东来说，每股收益是检查您假设的公司利润 “份额” 的好方法。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Shandong Ruifeng Chemical.
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山东瑞丰化工的资产负债表分析。
Our Take On Shandong Ruifeng Chemical's Profit Performance
我们对山东瑞丰化工盈利表现的看法
Each Shandong Ruifeng Chemical share now gets a meaningfully smaller slice of its overall profit, due to dilution of existing shareholders. Because of this, we think that it may be that Shandong Ruifeng Chemical's statutory profits are better than its underlying earnings power. The good news is that, its earnings per share increased by 58% in the last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. So while earnings quality is important, it's equally important to consider the risks facing Shandong Ruifeng Chemical at this point in time. To help with this, we've discovered 4 warning signs (3 are a bit unpleasant!) that you ought to be aware of before buying any shares in Shandong Ruifeng Chemical.
由于现有股东的稀释，山东瑞丰化工的每股股票现在在总利润中所占的份额要小得多。因此，我们认为可能是山东瑞丰化工的法定利润要好于其基础盈利能力。好消息是，其每股收益在去年增长了58％。归根结底，如果你想正确地了解公司，必须考虑的不仅仅是上述因素。因此，尽管收益质量很重要，但考虑山东瑞丰化工目前面临的风险同样重要。为了解决这个问题，我们发现了 4 个警告标志（3 个有点不愉快！）在购买山东瑞丰化工的任何股票之前，你应该注意这一点。
Today we've zoomed in on a single data point to better understand the nature of Shandong Ruifeng Chemical'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.
今天，我们放大了单一数据点，以更好地了解山东瑞丰化工利润的性质。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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