Are Shandong Linuo Technical Glass Co.,Ltd.'s (SZSE:301188) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
Are Shandong Linuo Technical Glass Co.,Ltd.'s (SZSE:301188) Mixed Financials The Reason For Its Gloomy Performance on The Stock Market?
It is hard to get excited after looking at Shandong Linuo Technical GlassLtd's (SZSE:301188) recent performance, when its stock has declined 11% over the past three months. It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. In this article, we decided to focus on Shandong Linuo Technical GlassLtd's ROE.
在山东利诺技术玻璃有限公司（SZSE:301188）最近的表现之后很难感到兴奋，因为它的股票在过去三个月中下降了11％。市场可能忽略了该公司的财务状况而倾向于负面情绪。基本面通常决定市场结果，因此研究该公司的财务状况是很有意义的。在本文中，我们决定关注山东利诺技术玻璃有限公司的roe。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或ROE是一项用于评估公司管理层如何利用公司资本的效率的关键指标。简而言之，它用于评估公司相对于其股本资本的盈利能力。
How Is ROE Calculated?
净资产收益率怎么计算？
ROE can be calculated by using the formula:
净资产收益率可以使用以下公式进行计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for Shandong Linuo Technical GlassLtd is:
因此，根据上述公式，山东利诺技术玻璃有限公司的roe为：
4.4% = CN¥68m ÷ CN¥1.5b (Based on the trailing twelve months to March 2024).
4.4％=CN¥68m÷CN¥1.5b（基于截至2024年3月的过去十二个月）。
The 'return' is the amount earned after tax over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.04 in profit.
‘回报’是过去12个月税后赚的金额。另一种思考方法是，对于每个人民币价值的股权，在利润方面，该公司能够赚取4分钱。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准，用于评估公司未来的盈利能力，我们现在需要评估公司“保留”为未来增长而重新投资的利润多少，这使我们对公司的增长潜力有了一个了解。一般而言，在其他条件相等的情况下，ROE和利润留存高的公司，增长率比没有这些属性的公司要高。
So far, we've learned that ROE is a measure of a company's profitability. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前为止，我们已经了解到 ROE 是衡量公司盈利能力的指标。根据公司再投资或“保留”的这些利润的数量以及其有效性，我们可以评估公司的盈利增长潜力。假设其他都相同，ROE 和利润保留较高的公司通常具有更高的增长率，与那些没有这些特点的公司相比。
Shandong Linuo Technical GlassLtd's Earnings Growth And 4.4% ROE
山东利诺技术玻璃有限公司的盈利增长和4.4％的roe
As you can see, Shandong Linuo Technical GlassLtd's ROE looks pretty weak. Even when compared to the industry average of 5.6%, the ROE figure is pretty disappointing. Therefore, it might not be wrong to say that the five year net income decline of 5.0% seen by Shandong Linuo Technical GlassLtd was possibly a result of it having a lower ROE. However, there could also be other factors causing the earnings to decline. Such as - low earnings retention or poor allocation of capital.
正如你所看到的，山东利诺技术玻璃有限公司的roe看起来相当糟糕。即使与行业平均水平5.6％相比，roe数据也相当令人失望。因此，可能不是错误地说山东利诺技术玻璃有限公司的五年净收入下降5.0％可能是其roe更低的结果。但是，也可能存在其他导致收益下降的因素，例如低收益保留或资本配置不善。
As a next step, we compared Shandong Linuo Technical GlassLtd's performance with the industry and found thatShandong Linuo Technical GlassLtd's performance is depressing even when compared with the industry, which has shrunk its earnings at a rate of 0.2% in the same period, which is a slower than the company.
作为下一步，我们将山东利诺技术玻璃有限公司的业绩与行业相比较，并发现即使与行业相比，山东利诺技术玻璃有限公司的业绩也令人沮丧，行业收益在同一时期的收缩率为0.2％，这是比该公司慢的。
Earnings growth is an important metric to consider when valuing a stock. 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. If you're wondering about Shandong Linuo Technical GlassLtd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
盈利增长是评估股票价值时需要考虑的重要指标。投资者需要确定的下一步是预期的盈利增长或缺乏盈利增长是否已经反映在股价中。这有助于他们决定股票的前景是光明还是黯淡。如果您想了解山东利诺技术玻璃有限公司的估值，请查看其市盈率的此基于行业比较的仪表板。
Is Shandong Linuo Technical GlassLtd Making Efficient Use Of Its Profits?
山东利诺技术玻璃有限公司是否有效利用其利润？
Despite having a normal three-year median payout ratio of 37% (where it is retaining 63% of its profits), Shandong Linuo Technical GlassLtd has seen a decline in earnings as we saw above. It looks like there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
尽管具有正常的三年中位数派息比率（保留其利润的63％，并派发37％的利润），但正如我们上面所看到的，山东利诺技术玻璃有限公司的收益下降了。看起来可能有其他原因可以解释其中的原因。例如，业务可能正在下滑。
Only recently, Shandong Linuo Technical GlassLtd stated paying a dividend. This likely means that the management might have concluded that its shareholders have a strong preference for dividends.
最近，山东利诺技术玻璃有限公司开始支付股息。这可能意味着管理层认为其股东有强烈的股息偏好。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
On the whole, we feel that the performance shown by Shandong Linuo Technical GlassLtd can be open to many interpretations. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. That being so, the latest industry analyst forecasts show that the analysts are expecting to see a huge improvement in the company's earnings growth rate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.
总的来说，我们认为山东利诺技术玻璃有限公司的表现可以有很多种解释。尽管看起来保留了大部分利润，但考虑到roE低，投资者可能并没有从所有再投资中获益。低利润增长证实了我们的理论。既然如此，最新的行业分析师预测显示分析师预计该公司的盈利增长率将有大幅提高。要了解有关公司未来盈利增长预测的更多信息，请查看此免费报告。
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