More Unpleasant Surprises Could Be In Store For China High Precision Automation Group Limited's (HKG:591) Shares After Tumbling 28%
More Unpleasant Surprises Could Be In Store For China High Precision Automation Group Limited's (HKG:591) Shares After Tumbling 28%
China High Precision Automation Group Limited (HKG:591) shareholders that were waiting for something to happen have been dealt a blow with a 28% share price drop in the last month. To make matters worse, the recent drop has wiped out a year's worth of gains with the share price now back where it started a year ago.
中國高精度自動化集團有限公司(HKG:591)上個月,等待著什麼事情發生的股東受到了打擊,股價下跌了28%。更糟糕的是,最近的下跌抹去了一年的漲幅,股價現在回到了一年前的水準。
In spite of the heavy fall in price, when almost half of the companies in Hong Kong's Electronic industry have price-to-sales ratios (or "P/S") below 0.4x, you may still consider China High Precision Automation Group as a stock probably not worth researching with its 1.1x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.
儘管股價大幅下跌,但當香港電子行業幾乎一半的公司的市銷率(P/S)低於0.4倍時,你可能仍然會認為中國高精度自動化集團的P/S比率為1.1倍,不值得研究。然而,P/S可能是有原因的,需要進一步調查才能確定是否合理。
Check out our latest analysis for China High Precision Automation Group
查看我們對中國高精度自動化集團的最新分析
![ps-multiple-vs-industry](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231030/0-743113b649f93a8dc560bc1b47180f93-0-00d35b7228613184f8f95015436e8880.png/big)
What Does China High Precision Automation Group's P/S Mean For Shareholders?
中國精密自動化集團P/S對股東意味著什麼?
For example, consider that China High Precision Automation Group's financial performance has been pretty ordinary lately as revenue growth is non-existent. One possibility is that the P/S is high because investors think the benign revenue growth will improve to outperform the broader industry in the near future. If not, then existing shareholders may be a little nervous about the viability of the share price.
例如,考慮到中國高精度自動化集團最近的財務表現相當普通,因為收入增長是不存在的。一種可能性是,本益比較高是因為投資者認為,在不久的將來,良性的收入增長將改善,表現優於整體行業。如果不是,那麼現有股東可能會對股價的生存能力感到有點緊張。
Is There Enough Revenue Growth Forecasted For China High Precision Automation Group?
中國高精度自動化集團的收入增長預期足夠嗎?
There's an inherent assumption that a company should outperform the industry for P/S ratios like China High Precision Automation Group's to be considered reasonable.
有一個固有的假設,即一家公司的表現應該優於行業,才能讓中國高精度自動化集團這樣的P/S比率被認為是合理的。
If we review the last year of revenue, the company posted a result that saw barely any deviation from a year ago. However, a few strong years before that means that it was still able to grow revenue by an impressive 43% in total over the last three years. Accordingly, shareholders will be pleased, but also have some questions to ponder about the last 12 months.
如果我們回顧一下去年的收入,該公司公佈的結果與一年前幾乎沒有任何偏差。然而,在此之前幾年的強勁表現意味著,它在過去三年的總收入仍能增長43%,令人印象深刻。因此,股東會感到高興,但也會對過去12個月的情況有一些需要思考的問題。
It's interesting to note that the rest of the industry is similarly expected to grow by 13% over the next year, which is fairly even with the company's recent medium-term annualised growth rates.
有趣的是,該行業的其他行業預計明年將增長13%,與該公司最近的中期年化增長率基本持平。
In light of this, it's curious that China High Precision Automation Group's P/S sits above the majority of other companies. It seems most investors are ignoring the fairly average recent growth rates and are willing to pay up for exposure to the stock. Nevertheless, they may be setting themselves up for future disappointment if the P/S falls to levels more in line with recent growth rates.
有鑒於此,奇怪的是,中國高精度自動化集團的P/S坐在其他大多數公司的前面。似乎大多數投資者忽視了近期相當平均的增長率,並願意為股票敞口支付高價。然而,如果本益比/S指數跌至與近期增速更接近的水準,他們可能會在未來感到失望。
What Does China High Precision Automation Group's P/S Mean For Investors?
中國精密自動化集團的P/S對投資者意味著什麼?
Despite the recent share price weakness, China High Precision Automation Group's P/S remains higher than most other companies in the industry. Using the price-to-sales ratio alone to determine if you should sell your stock isn't sensible, however it can be a practical guide to the company's future prospects.
儘管最近股價疲軟,中國高精度自動化集團的本益比仍高於行業內大多數其他公司。僅僅用市銷率來決定你是否應該出售你的股票是不明智的,但它可以成為公司未來前景的實用指南。
We didn't expect to see China High Precision Automation Group trade at such a high P/S considering its last three-year revenue growth has only been on par with the rest of the industry. Right now we are uncomfortable with the high P/S as this revenue performance isn't likely to support such positive sentiment for long. If recent medium-term revenue trends continue, it will place shareholders' investments at risk and potential investors in danger of paying an unnecessary premium.
我們沒有想到中國高精度自動化集團會以如此高的本益比交易,因為該集團最近三年的收入增長僅與行業其他公司持平。目前,我們對S的高本益比感到不安,因為這種收入表現不太可能長期支持這種積極的情緒。如果近期的中期營收趨勢持續下去,將使股東的投資面臨風險,潛在投資者面臨支付不必要溢價的危險。
Before you settle on your opinion, we've discovered 1 warning sign for China High Precision Automation Group that you should be aware of.
在你決定你的觀點之前,我們發現中國高精度自動化集團的1個警告標誌這一點你應該知道.
If strong companies turning a profit tickle your fancy, then you'll want to check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).
如果強大的盈利公司激起了你的想像力,那麼你就會想要看看這個。免費本益比較低(但已證明它們可以增加收益)的有趣公司名單。
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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.