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Anhui Hyea Aromas' (SZSE:300886) Promising Earnings May Rest On Soft Foundations

Anhui Hyea Aromas' (SZSE:300886) Promising Earnings May Rest On Soft Foundations

华业香料(SZSE:300886)有望盈利,但可能建立在脆弱基础之上
Simply Wall St ·  10/31 20:03

Unsurprisingly, Anhui Hyea Aromas Co., Ltd.'s (SZSE:300886) stock price was strong on the back of its healthy earnings report. We did some analysis and think that investors are missing some details hidden beneath the profit numbers.

华业香料股票价格强劲,这要归功于其健康的收入报告。我们进行了一些分析,认为投资者可能忽略了盈利数字背后隐藏的细节。

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SZSE:300886 Earnings and Revenue History November 1st 2024
SZSE:300886 盈利和营业收入历史数据 2024年11月1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。

For anyone who wants to understand Anhui Hyea Aromas' profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from CN¥6.1m worth of unusual items. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Anhui Hyea Aromas' positive unusual items were quite significant relative to its profit in the year to September 2024. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power.

对于想要了解华业香料利润超出法定数字的人来说,重要的是要注意,在过去十二个月中,法定利润获得了价值610万人民币的飞凡项目。尽管利润增加总是令人高兴,但大部分来自飞凡项目的贡献有时会减弱我们的热情。当我们分析全球绝大多数上市公司时,我们发现重要的飞凡项目通常不会重演。这正如你所期望的,因为这些提振被描述为“飞凡”。我们可以看到,相对于2024年9月的利润来说,华业香料的正面飞凡项目相当显著。其他条件相同的情况下,这很可能会导致法定利润成为核心盈利能力的一个不良指导。

Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Anhui Hyea Aromas.

注意:我们始终建议投资者检查资产负债表实力。点击这里查看我们对华业香料资产负债表的分析。

Our Take On Anhui Hyea Aromas' Profit Performance

我们对安徽华业香料的利润表现的看法

As we discussed above, we think the significant positive unusual item makes Anhui Hyea Aromas' earnings a poor guide to its underlying profitability. As a result, we think it may well be the case that Anhui Hyea Aromas' underlying earnings power is lower than its statutory profit. On the bright side, the company showed enough improvement to book a profit this year, after losing money 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. So while earnings quality is important, it's equally important to consider the risks facing Anhui Hyea Aromas at this point in time. For example, Anhui Hyea Aromas has 2 warning signs (and 1 which is significant) we think you should know about.

正如我们上面讨论的那样,我们认为重要的正面飞凡项目使得华业香料的盈利成为其潜在盈利能力的不良指引。因此,我们认为很可能华业香料的潜在盈利能力低于其法定利润。从积极的一面来看,该公司今年取得了足够的改善,成功实现盈利,而上一年则亏损。这篇文章的目标是评估我们能否依赖法定收益来反映公司的潜力,但还有很多要考虑。因此,尽管盈利质量很重要,但同样重要的是考虑当前华业香料面临的风险。例如,我们认为你应该了解的是,华业香料有两个警告信号(其中一个是重要的)。

Today we've zoomed in on a single data point to better understand the nature of Anhui Hyea Aromas' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.

今天,我们已经将注意力集中在一个数据点上,以更好地了解华业香料盈利的性质。但如果您有能力专注细节,总会有更多发现。有些人认为高股本回报率是一个优质企业的好迹象。因此,您可能希望查看这个免费的公司收藏,其中包括股本回报率高的公司,或者查看这个拥有高内部所有权的股票清单。

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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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Simply Wall St的这篇文章是一般性质的。我们仅基于历史数据和分析师预测提供评论,使用公正的方法,我们的文章并非意在提供财务建议。这并不构成买入或卖出任何股票的建议,并且不考虑您的目标或财务状况。我们旨在为您带来基于基础数据驱动的长期聚焦分析。请注意,我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St对提及的任何股票都没有持仓。

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