Why Investors Shouldn't Be Surprised By Chongqing Jianshe Vehicle System Co., Ltd.'s (SZSE:200054) 25% Share Price Plunge
Why Investors Shouldn't Be Surprised By Chongqing Jianshe Vehicle System Co., Ltd.'s (SZSE:200054) 25% Share Price Plunge
The Chongqing Jianshe Vehicle System Co., Ltd. (SZSE:200054) share price has fared very poorly over the last month, falling by a substantial 25%. Instead of being rewarded, shareholders who have already held through the last twelve months are now sitting on a 31% share price drop.
這個重慶建社車輛系統有限公司。(SZSE:200054)過去一個月,股價表現非常糟糕,大幅下跌了25%。在過去12個月裡一直持有股票的股東非但沒有獲得回報,反而坐在股價下跌31%的位置上。
After such a large drop in price, when close to half the companies operating in China's Auto industry have price-to-sales ratios (or "P/S") above 2.1x, you may consider Chongqing Jianshe Vehicle System as an enticing stock to check out with its 0.9x P/S ratio. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the reduced P/S.
在經歷瞭如此大的降價後,當中國所在的汽車行業中近一半的公司的市銷率(P/S)超過2.1倍時,你可能會認為重慶建社車輛系統是一隻誘人的股票,其P/S比為0.9x。儘管如此,我們需要更深入地挖掘,以確定P/S降低是否有合理的基礎。
Check out our latest analysis for Chongqing Jianshe Vehicle System
查看我們對重慶建設車輛系統的最新分析
![ps-multiple-vs-industry](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20230926/0-27ee21881fd503f0af82f943237aab7e-0-fd39149311fa2d7d2ebc243d53ef3e81.png/big)
How Has Chongqing Jianshe Vehicle System Performed Recently?
重慶建設車輛系統最近表現如何?
For example, consider that Chongqing Jianshe Vehicle System's financial performance has been poor lately as its revenue has been in decline. It might be that many expect the disappointing revenue performance to continue or accelerate, which has repressed the P/S. Those who are bullish on Chongqing Jianshe Vehicle System will be hoping that this isn't the case so that they can pick up the stock at a lower valuation.
例如,考慮到重慶建社車輛系統最近的財務表現不佳,因為它的收入一直在下降。可能是許多人預計令人失望的營收表現將繼續或加速,這抑制了本益比。看好重慶建社車輛系統的人希望情況並非如此,這樣他們就可以以較低的估值買入該股。
Do Revenue Forecasts Match The Low P/S Ratio?
收入預測是否符合較低的本益比?
In order to justify its P/S ratio, Chongqing Jianshe Vehicle System would need to produce sluggish growth that's trailing the industry.
為了證明其P/S比率是合理的,重慶建社車輛系統需要產生落後於行業的低迷增長。
In reviewing the last year of financials, we were disheartened to see the company's revenues fell to the tune of 2.3%. The last three years don't look nice either as the company has shrunk revenue by 36% in aggregate. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.
回顧過去一年的財務狀況,我們沮喪地看到公司的收入下降到了2.3%。過去三年的情況也不妙,因為該公司的總收入縮水了36%。因此,股東們會對中期營收增長率感到悲觀。
Comparing that to the industry, which is predicted to deliver 20% growth in the next 12 months, the company's downward momentum based on recent medium-term revenue results is a sobering picture.
相比之下,該行業預計將在未來12個月實現20%的增長,根據最近的中期營收結果,該公司的下滑勢頭令人警醒。
With this in mind, we understand why Chongqing Jianshe Vehicle System's P/S is lower than most of its industry peers. Nonetheless, there's no guarantee the P/S has reached a floor yet with revenue going in reverse. Even just maintaining these prices could be difficult to achieve as recent revenue trends are already weighing down the shares.
有鑒於此,我們理解了為什麼重慶建設車輛系統的P/S低於大多數行業同行。儘管如此,不能保證P/S已經觸底,營收出現了逆轉。即使只是維持這些價格也可能很難實現,因為最近的收入趨勢已經在拖累股價。
The Bottom Line On Chongqing Jianshe Vehicle System's P/S
重慶建設車輛系統P/S的底線
The southerly movements of Chongqing Jianshe Vehicle System's shares means its P/S is now sitting at a pretty low level. Generally, our preference is to limit the use of the price-to-sales ratio to establishing what the market thinks about the overall health of a company.
重慶建設車輛系統股價的南下走勢意味著其本益比目前處於相當低的水準。一般來說,我們傾向於將市銷率的使用限制在確定市場對公司整體健康狀況的看法上。
Our examination of Chongqing Jianshe Vehicle System confirms that the company's shrinking revenue over the past medium-term is a key factor in its low price-to-sales ratio, given the industry is projected to grow. At this stage investors feel the potential for an improvement in revenue isn't great enough to justify a higher P/S ratio. If recent medium-term revenue trends continue, it's hard to see the share price moving strongly in either direction in the near future under these circumstances.
在這個階段,投資者認為營收改善的潛力還不夠大,不足以證明提高本益比和S比率是合理的。如果近期的中期營收趨勢繼續下去,在這種情況下,很難看到股價在不久的將來向任何一個方向強勁移動。
It is also worth noting that we have found 2 warning signs for Chongqing Jianshe Vehicle System (1 is significant!) that you need to take into consideration.
同樣值得注意的是,我們發現重慶建設車輛系統2個警示標誌(1很重要!)這是你需要考慮的。
Of course, profitable companies with a history of great earnings growth are generally safer bets. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.
當然了,利潤豐厚、盈利增長迅速的公司通常是更安全的押注那就是。所以你可能想看看這個免費其他本益比合理、盈利增長強勁的公司的集合。
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本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.