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China Huarong Asset Management (HKG:2799 Investor Five-year Losses Grow to 72% as the Stock Sheds HK$2.4b This Past Week

China Huarong Asset Management (HKG:2799 Investor Five-year Losses Grow to 72% as the Stock Sheds HK$2.4b This Past Week

中國華融資產管理(HKG: 2799)投資者五年期虧損增至72%,該股上週下跌24億港元
Simply Wall St ·  2023/12/14 08:04

China Huarong Asset Management Co., Ltd. (HKG:2799) shareholders should be happy to see the share price up 13% in the last month. But spare a thought for the long term holders, who have held the stock as it bled value over the last five years. In fact, the share price has tumbled down a mountain to land 72% lower after that period. It's true that the recent bounce could signal the company is turning over a new leaf, but we are not so sure. The fundamental business performance will ultimately determine if the turnaround can be sustained.

中國華融資產管理有限公司(HKG: 2799)股東應該對上個月股價上漲13%感到高興。但是不用考慮長揸者,他們在過去五年中一直持有該股的價值。實際上,在此之後,股價已經下跌至72%。的確,最近的反彈可能預示着該公司正在翻開新的一頁,但我們不太確定。基本業務績效最終將決定這種轉變能否持續下去。

With the stock having lost 6.9% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.

由於該股在過去一週下跌了6.9%,值得一看業務表現,看看是否存在任何危險信號。

View our latest analysis for China Huarong Asset Management

查看我們對中國華融資產管理的最新分析

China Huarong Asset Management wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Shareholders of unprofitable companies usually expect strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth.

中國華融資產管理在過去十二個月中沒有盈利,我們不太可能看到其股價與每股收益(EPS)之間存在很強的相關性。可以說,收入是我們的下一個最佳選擇。無利可圖的公司的股東通常期望強勁的收入增長。一些公司願意推遲盈利以更快地增加收入,但在這種情況下,人們確實預計收入會有良好的增長。

Over half a decade China Huarong Asset Management reduced its trailing twelve month revenue by 41% for each year. That's definitely a weaker result than most pre-profit companies report. So it's not that strange that the share price dropped 11% per year in that period. This kind of price performance makes us very wary, especially when combined with falling revenue. Ironically, that behavior could create an opportunity for the contrarian investor - but only if there are good reasons to predict a brighter future.

在過去的五年中,中國華融資產管理將其過去十二個月的收入每年減少41%。這絕對比大多數盈利前公司報告的結果要差。因此,在此期間,股價每年下跌11%也就不足爲奇了。這種價格表現使我們非常警惕,尤其是在收入下降的情況下。具有諷刺意味的是,這種行爲可以爲逆勢投資者創造機會——但前提是有充分的理由預測更光明的未來。

The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).

下圖顯示了收入和收入隨時間推移的跟蹤情況(如果您點擊圖片,可以看到更多細節)。

earnings-and-revenue-growth
SEHK:2799 Earnings and Revenue Growth December 14th 2023
SEHK: 2799 2023年12月14日收益和收入增長

This free interactive report on China Huarong Asset Management's balance sheet strength is a great place to start, if you want to investigate the stock further.

如果你想進一步調查該股,這份關於中國華融資產管理資產負債表實力的免費互動報告是一個很好的起點。

A Different Perspective

不同的視角

While the broader market lost about 9.3% in the twelve months, China Huarong Asset Management shareholders did even worse, losing 15%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. However, the loss over the last year isn't as bad as the 11% per annum loss investors have suffered over the last half decade. We would want clear information suggesting the company will grow, before taking the view that the share price will stabilize. 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. Case in point: We've spotted 1 warning sign for China Huarong Asset Management you should be aware of.

儘管整個市場在十二個月中下跌了約9.3%,但中國華融資產管理股東的表現甚至更糟,下跌了15%。話雖如此,在下跌的市場中,一些股票不可避免地會被超賣。關鍵是要密切關注基本發展。但是,去年的虧損並不像投資者在過去五年中遭受的每年11%的虧損那麼嚴重。在認爲股價將穩定之前,我們希望獲得明確的信息,表明該公司將增長。儘管市場狀況可能對股價產生的不同影響值得考慮,但還有其他因素更爲重要。一個很好的例子:我們發現了中國華融資產管理的一個警告信號,你應該注意。

For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

對於那些喜歡尋找中獎投資的人來說,這份最近有內幕收購的成長型公司的免費名單可能只是門票。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.

請注意,本文引用的市場回報反映了目前在香港交易所交易的股票的市場加權平均回報。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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