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We Think You Can Look Beyond Sichuan Goldstone Asia Pharmaceutical's (SZSE:300434) Lackluster Earnings

We Think You Can Look Beyond Sichuan Goldstone Asia Pharmaceutical's (SZSE:300434) Lackluster Earnings

我们认为您可以超越金石亚药(SZSE:300434)平平无奇的收益
Simply Wall St ·  09/05 06:51

Shareholders appeared unconcerned with Sichuan Goldstone Asia Pharmaceutical Inc.'s (SZSE:300434) lackluster earnings report last week. We did some digging, and we believe the earnings are stronger than they seem.

上周,四川金石亚药(SZSE:300434)的股东对公司业绩不佳的盈利报告似乎并不担心。我们进行了一些调查,认为盈利状况比它们看起来要强。

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SZSE:300434 Earnings and Revenue History September 4th 2024
SZSE:300434 盈利和收入历史记录 2024年9月4日

The Impact Of Unusual Items On Profit

除了稀释之外,还应该注意的是,万集科技在过去12个月中因不寻常项目获得了价值人民币3.5万元的利润。虽然我们希望看到利润增加,但当这些不寻常项目对利润做出重大贡献时,我们会更加谨慎。我们对全球大部分上市公司的数据进行了分析,发现不寻常项目往往是一次性的。这正如我们所期望的那样,因为这些提升被描述为"不寻常"。相对于其利润而言,万集科技在2021年12月前的不寻常项目贡献大。因此,我们可以推断出,这些不寻常项目正在使其财务利润显著增强。

To properly understand Sichuan Goldstone Asia Pharmaceutical's profit results, we need to consider the CN¥74m expense attributed to unusual items. It's never great to see unusual items costing the company profits, but on the upside, things might improve sooner rather than later. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And, after all, that's exactly what the accounting terminology implies. Sichuan Goldstone Asia Pharmaceutical took a rather significant hit from unusual items in the year to June 2024. All else being equal, this would likely have the effect of making the statutory profit look worse than its underlying earnings power.

要正确理解四川金石亚药的盈利结果,我们需要考虑到7,400万元人民币的异常项目开销。见到异常项目导致公司利润减少并不是一件好事,但好在情况可能很快就会有所改善。我们研究了数千家上市公司发现,异常项目很常常是一次性的。而且,这正是会计术语所意味着的。四川金石亚药在2024年6月的财年中受到了异常项目的相当大的影响。其他情况都相同的话,这很可能会导致法定利润看起来比实际盈利能力更糟糕。

Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Sichuan Goldstone Asia Pharmaceutical.

注:我们始终建议投资者检查资产负债表的实力。点击这里查看我们对四川金石亚药资产负债表的分析。

Our Take On Sichuan Goldstone Asia Pharmaceutical's Profit Performance

对于四川金石亚药的盈利表现,我们的看法

As we discussed above, we think the significant unusual expense will make Sichuan Goldstone Asia Pharmaceutical's statutory profit lower than it would otherwise have been. Because of this, we think Sichuan Goldstone Asia Pharmaceutical's underlying earnings potential is as good as, or possibly even better, than the statutory profit makes it seem! Unfortunately, though, its earnings per share actually fell back over the last year. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. Be aware that Sichuan Goldstone Asia Pharmaceutical is showing 3 warning signs in our investment analysis and 1 of those can't be ignored...

正如我们上面所讨论的,我们认为重大的飞凡费用将使金石亚药亚洲药品的财务利润低于其本来应有的水平。由于这个原因,我们认为金石亚药亚洲药品的基本盈利潜力和财务利润相比实际上是一样好甚至可能更好的!不幸的是,过去一年,其每股收益实际上有所下降。本文的目标是评估我们能否依赖财务利润来反映公司的潜力,但还有很多需要考虑的地方。记住,不考虑风险的情况下,我们不会考虑投资于股票。请注意,金石亚药亚洲药品在我们的投资分析中显示出3个警示信号,其中1个不能被忽视...

Today we've zoomed in on a single data point to better understand the nature of Sichuan Goldstone Asia Pharmaceutical'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 with significant insider holdings to be useful.

今天,我们将重点放在一个单一数据点上,以更好地了解金石亚药亚洲药品的利润性质。但还有很多其他方法可以帮助您了解公司的情况。例如,许多人认为高净资产收益率是良好业务经济的指标,而另一些人则喜欢“跟着钱走”,寻找内部人员正在买入的股票。虽然这可能需要您进行一点点的研究,但您可能会发现这个免费的公司收藏中有许多具有高净资产收益率的公司,或者这个拥有大量内部持股的股票清单会很有用。

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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。

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