Despite Shrinking by CN¥439m in the Past Week, YanTai LongYuan Power Technology (SZSE:300105) Shareholders Are Still up 37% Over 5 Years
Despite Shrinking by CN¥439m in the Past Week, YanTai LongYuan Power Technology (SZSE:300105) Shareholders Are Still up 37% Over 5 Years
While YanTai LongYuan Power Technology Co., Ltd. (SZSE:300105) shareholders are probably generally happy, the stock hasn't had particularly good run recently, with the share price falling 17% in the last quarter. On the bright side the returns have been quite good over the last half decade. After all, the share price is up a market-beating 21% in that time.
尽管龙源技术股票(SZSE:300105)的股东可能普遍感到满意,但最近该股票的运行情况并不好,上个季度股价下跌了17%。但好的一面是,在过去的半个十年中收益相当不错。毕竟,股价在那段时间内增长了超过市场平均水平的21%。
In light of the stock dropping 13% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive five-year return.
鉴于过去一周股票下跌了13%,我们想调查公司更长远的情报,以确定基本面是否是公司五年回报的驱动因素。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. 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.
不可否认的是,市场有时是高效的,但价格并不总是反映潜在的商业表现。一个不完美但简单的方法来考虑公司市场感知如何改变是比较每股收益(EPS)变化和股价变动。
During the five years of share price growth, YanTai LongYuan Power Technology moved from a loss to profitability. That's generally thought to be a genuine positive, so investors may expect to see an increasing share price. Since the company was unprofitable five years ago, but not three years ago, it's worth taking a look at the returns in the last three years, too. We can see that the YanTai LongYuan Power Technology share price is up 13% in the last three years. During the same period, EPS grew by 107% each year. This EPS growth is higher than the 4% average annual increase in the share price over the same three years. So you might conclude the market is a little more cautious about the stock, these days.
在股价增长的五年中,龙源技术从亏损转为盈利。这通常被认为是一个真正的正面因素,因此投资者可能预期看到股价上涨。由于该公司五年前亏损,但三年前没有亏损,因此也值得看看过去三年的回报情况。我们可以看到,龙源技术的股价在过去三年中上涨了13%。在同一时期内,每股收益每年增长了107%。这种每股收益增长高于同一三年期间股价平均年增长率的4%。因此,您可能会得出结论,市场现在对该股持有更多谨慎态度。
The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).
下图显示了EPS随时间的变化情况(如果您单击该图像,则可以查看更多详细信息)。
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在购买或出售股票之前,我们始终建议仔细研究历史增长趋势,此处提供。
What About Dividends?
那么分红怎么样呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of YanTai LongYuan Power Technology, it has a TSR of 37% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
在考虑投资回报时,重要的是要考虑总股东回报(TSR)和股价回报之间的差异。股价回报只反映了股价的变化,TSR包括了红利的价值(假设它们被再投资)以及任何折现的资本增长或分拆的利益。可以说,TSR为那些支付股息的股票提供了更全面的图片。在龙源技术的情况下,它在过去5年中的TSR为37%。它超过了我们之前提到的股价回报。毫无疑问,股息支付在很大程度上解释了这种分歧!
A Different Perspective
不同的观点
While it's never nice to take a loss, YanTai LongYuan Power Technology shareholders can take comfort that , including dividends,their trailing twelve month loss of 12% wasn't as bad as the market loss of around 15%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 6% for each year. It could be that the business is just facing some short term problems, but shareholders should keep a close eye on the fundamentals. 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 YanTai LongYuan Power Technology that you should be aware of before investing here.
虽然亏损从来不是令人愉快的事情,但龙源技术的股东可以放心,包括分红派息,他们过去12个月的亏损率为12%,并不像市场亏损率约15%那样糟糕。当然,长期回报才是更重要的,好消息是,在过去的五年中,该股票每年回报6%。可能是业务面临一些短期问题,但股东应该密切关注基本面。虽然认真考虑市场条件对股价的不同影响是非常值得的,但其他因素更重要。例如,我们发现了一条关于龙源技术的警告信号,在此投资之前应该注意。
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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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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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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