Strong Week for Lingyuan Iron & Steel (SHSE:600231) Shareholders Doesn't Alleviate Pain of Five-year Loss
Strong Week for Lingyuan Iron & Steel (SHSE:600231) Shareholders Doesn't Alleviate Pain of Five-year Loss
The main aim of stock picking is to find the market-beating stocks. But in any portfolio, there will be mixed results between individual stocks. At this point some shareholders may be questioning their investment in Lingyuan Iron & Steel Co., Ltd. (SHSE:600231), since the last five years saw the share price fall 48%. And we doubt long term believers are the only worried holders, since the stock price has declined 23% over the last twelve months. Shareholders have had an even rougher run lately, with the share price down 23% in the last 90 days. But this could be related to the weak market, which is down 9.5% in the same period.
選股的主要目的是尋找市場領先的股票。但是在任何投資組合中,個股之間的結果都會好壞參半。目前,一些股東可能會質疑他們對凌源鋼鐵有限公司(SHSE: 600231)的投資,因爲在過去五年中,股價下跌了48%。而且我們懷疑長期信徒是唯一擔心的持有者,因爲股價在過去十二個月中下跌了23%。股東們最近的表現更加艱難,股價在過去90天中下跌了23%。但這可能與疲軟的市場有關,同期市場下跌了9.5%。
The recent uptick of 7.7% could be a positive sign of things to come, so let's take a look at historical fundamentals.
最近上漲7.7%可能是即將發生的事情的積極信號,因此讓我們來看一下歷史基本面。
Given that Lingyuan Iron & Steel didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. When a company doesn't make profits, we'd generally expect to see good revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth.
鑑於凌源鋼鐵在過去十二個月中沒有盈利,我們將專注於收入增長,以快速了解其業務發展。當一家公司沒有盈利時,我們通常預計收入會有良好的增長。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 five years, Lingyuan Iron & Steel grew its revenue at 1.9% per year. That's far from impressive given all the money it is losing. Given the weak growth, the share price fall of 8% isn't particularly surprising. The key question is whether the company can make it to profitability, and beyond, without trouble. Shareholders will want the company to approach profitability if it can't grow revenue any faster.
在過去的五年中,凌源鋼鐵的收入以每年1.9%的速度增長。考慮到它損失的所有資金,這遠非令人印象深刻。鑑於增長疲軟,股價下跌8%並不特別令人驚訝。關鍵問題是公司能否順利實現盈利及其他目標。如果公司無法更快地增加收入,股東們就會希望公司實現盈利。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下圖描述了收入和收入隨時間推移而發生的變化(點擊圖片即可顯示確切的數值)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240224/0-6fc5c550091a812259cc0a45f6670954-0-055841df16309c8d38fe22e06113b992.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
您可以在這張免費的交互式圖片中看到其資產負債表如何隨着時間的推移而增強(或減弱)。
What About The Total Shareholder Return (TSR)?
那麼股東總回報(TSR)呢?
Investors should note that there's a difference between Lingyuan Iron & Steel's total shareholder return (TSR) and its share price change, which we've covered above. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Lingyuan Iron & Steel's TSR of was a loss of 42% for the 5 years. That wasn't as bad as its share price return, because it has paid dividends.
投資者應注意,凌源鋼鐵的股東總回報率(TSR)與其股價變動之間存在差異,我們在上面已經對此進行了介紹。股東總回報率是一種回報計算方法,它考慮了現金分紅的價值(假設收到的任何股息都經過再投資)以及任何貼現資本籌集和分拆的計算價值。在過去的5年中,凌源鋼鐵的股東總回報率下降了42%。這還不如其股價回報率那麼糟糕,因爲它已經支付了股息。
A Different Perspective
不同的視角
We regret to report that Lingyuan Iron & Steel shareholders are down 23% for the year. Unfortunately, that's worse than the broader market decline of 19%. However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 7% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. 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 Lingyuan Iron & Steel you should be aware of.
我們遺憾地報告,凌源鋼鐵股東今年下跌了23%。不幸的是,這比整個市場19%的跌幅還要嚴重。但是,可能只是股價受到了更廣泛的市場緊張情緒的影響。如果有很好的機會,可能值得關注基本面。遺憾的是,去年的業績結束了糟糕的表現,股東在五年內每年面臨7%的總虧損。我們意識到羅斯柴爾德男爵曾說過,投資者應該 “在街頭流血時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。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:我們發現了凌源鋼鐵公司的一個警告標誌,你應該注意。
We will like Lingyuan Iron & Steel better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
如果我們看到一些重大的內幕收購,我們會更喜歡凌源鋼鐵公司。在我們等待的同時,請查看這份免費清單,列出了最近有大量內幕收購的成長型公司。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
請注意,本文引用的市場回報反映了目前在中國交易所交易的股票的市場加權平均回報。
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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.
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。