Investors Three-year Losses Continue as DaShenLin Pharmaceutical Group (SHSE:603233) Dips a Further 11% This Week, Earnings Continue to Decline
Investors Three-year Losses Continue as DaShenLin Pharmaceutical Group (SHSE:603233) Dips a Further 11% This Week, Earnings Continue to Decline
If you love investing in stocks you're bound to buy some losers. Long term DaShenLin Pharmaceutical Group Co., Ltd. (SHSE:603233) shareholders know that all too well, since the share price is down considerably over three years. So they might be feeling emotional about the 57% share price collapse, in that time. And more recent buyers are having a tough time too, with a drop of 45% in the last year. Furthermore, it's down 27% in about a quarter. That's not much fun for holders.
如果你喜欢投资股票，你就有可能会买入一些失败者。长期持股东大参林药业股份有限公司 (SHSE:603233) 就深有体会，自股价下跌至今已有三年之久，跌幅相当大。所以股民们可能会对该公司的股价暴跌57%感到情感化，尤其是那段时间内。而最近购买的股东也遇到了困难，去年跌了45%。此外，这是在一个季度内下跌了27%。这对于持有者来说没有什么乐趣。
With the stock having lost 11% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.
由于股票在过去一周中下跌了11％，因此值得看一下业务表现，看看是否有任何红旗。
To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
引用巴菲特的话：“船只将周游世界，而‘地平派’仍会兴旺。市场上的价格和价值仍会存在广泛的差距……”考虑一家公司在市场上的认知如何变化的一个不完美但简单的方法是比较每股收益（EPS）的变化和股价的波动。
During the three years that the share price fell, DaShenLin Pharmaceutical Group's earnings per share (EPS) dropped by 1.7% each year. This reduction in EPS is slower than the 25% annual reduction in the share price. So it's likely that the EPS decline has disappointed the market, leaving investors hesitant to buy.
在股票下跌的三年里，大参林药业股份有限公司 (SHSE:603233) 的每股收益 (EPS) 每年下降了1.7%。而这个收益每年的下降速度比股价下跌的25%要慢。所以很可能是 EPS 的下降令市场失望，让投资者犹豫不决。
You can see how EPS has changed over time in the image below (click on the chart to see the exact values).
您可以在下面的图片中查看每股收益如何随时间变化（单击图表以查看确切的价值）。
It might be well worthwhile taking a look at our free report on DaShenLin Pharmaceutical Group's earnings, revenue and cash flow.
我们建议您查看我们免费的大参林药业股份有限公司的收益、收入和现金流的报告。
What About Dividends?
那么分红怎么样呢？
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of DaShenLin Pharmaceutical Group, it has a TSR of -55% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.
除了计算股价回报之外，投资者也应考虑总股东回报 (TSR)。TSR 包括任何分拆或折价的资本募集价值，以及任何分红派息，基于这样一个假设，即分红会再次投资。因此，对于付出慷慨的股息的公司，TSR 常常比股价回报高出很多。对于大参林药业股份有限公司来说，在过去的3年中，它的 TSR 达到了-55%。超过了我们之前提到的股价回报。公司支付的股息因此提高了 TSR。总股东回报。
A Different Perspective
不同的观点
We regret to report that DaShenLin Pharmaceutical Group shareholders are down 44% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 14%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 4% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 1 warning sign for DaShenLin Pharmaceutical Group that you should be aware of before investing here.
我们很遗憾地报告，包括分红在内，大参林药业股份有限公司的股东今年跌了44%。不幸的是，这比整个市场下跌的14%要糟糕。话虽如此，在下跌的市场中，难免会有一些股票被过度出售。关键是要保持对基本面的关注。不幸的是，去年的表现可能表明仍存在未解决的挑战，因为其比过去半个世纪的年度亏损率4%还要糟糕。一般来说，长期的股价疲软可能是一个不好的信号，尽管叛逆投资者可能希望在希望有所好转时研究这只股票。尽管考虑市场条件对股价的影响非常重要，但还有其他更加重要的因素。例如，我们已发现大参林药业股份有限公司的1个警告信号，您在此投资之前应该了解。
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一样，就不会希望错过这份免费的内部人士正在购买的低估小市值股票列表。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
请注意，本文引用的市场回报反映了目前在中国交易所上市的股票的市场加权平均回报。
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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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