Jiangnan Yifan Motor Co.,Ltd's (SZSE:301023) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Jiangnan Yifan Motor Co.,Ltd's (SZSE:301023) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Most readers would already be aware that Jiangnan Yifan MotorLtd's (SZSE:301023) stock increased significantly by 60% over the past month. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Specifically, we decided to study Jiangnan Yifan MotorLtd's ROE in this article.
大多數讀者已經意識到,江南億帆汽車有限公司(深圳證券交易所代碼:301023)的股票在過去一個月中大幅上漲了60%。但是,我們想知道該公司財務狀況不穩定是否會對當前的股價勢頭產生任何不利影響。具體而言,我們決定在本文中研究江南億帆汽車有限公司的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。簡而言之,它衡量公司相對於股東權益的盈利能力。
How To Calculate Return On Equity?
如何計算股本回報率?
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤(來自持續經營業務)÷ 股東權益
So, based on the above formula, the ROE for Jiangnan Yifan MotorLtd is:
因此,根據上述公式,江南一帆汽車有限公司的投資回報率爲:
6.5% = CN¥52m ÷ CN¥801m (Based on the trailing twelve months to September 2023).
6.5% = 5200萬元人民幣 ÷ 8.01億元人民幣(基於截至2023年9月的過去十二個月)。
The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.07 in profit.
“回報” 是過去十二個月的利潤。這意味着,每持有價值1元人民幣的股權,公司就會產生0.07元人民幣的利潤。
Why Is ROE Important For Earnings Growth?
爲什麼投資回報率對收益增長很重要?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前爲止,我們已經了解到,投資回報率是衡量公司盈利能力的指標。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。一般而言,在其他條件相同的情況下,股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
A Side By Side comparison of Jiangnan Yifan MotorLtd's Earnings Growth And 6.5% ROE
江南一帆汽車有限公司的收益增長和6.5%的投資回報率的並排比較
On the face of it, Jiangnan Yifan MotorLtd's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 7.1%, we may spare it some thought. On the other hand, Jiangnan Yifan MotorLtd reported a fairly low 3.4% net income growth over the past five years. Remember, the company's ROE is not particularly great to begin with. Hence, this does provide some context to low earnings growth seen by the company.
從表面上看,江南一帆汽車有限公司的投資回報率沒什麼好談的。但是,鑑於該公司的投資回報率與7.1%的平均行業投資回報率相似,我們可以不加思索。另一方面,江南億帆汽車有限公司報告稱,在過去五年中,淨收入增長3.4%,相當低。請記住,公司的投資回報率一開始並不是特別好。因此,這確實爲公司所看到的低收益增長提供了一些背景信息。
We then compared Jiangnan Yifan MotorLtd's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 14% in the same 5-year period, which is a bit concerning.
然後,我們將江南一帆汽車有限公司的淨收入增長與該行業進行了比較,發現該公司的增長數字低於同期14%的行業平均增長率,這有點令人擔憂。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240308/0-b4b6fd5bca64135007cc3eb9385a9872-0-9b519b064b204058d6023d59367c646d.png/big)
Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Jiangnan Yifan MotorLtd is trading on a high P/E or a low P/E, relative to its industry.
收益增長是股票估值的重要因素。無論如何,投資者應設法確定預期的收益增長或下降是否已計入其中。通過這樣做,他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。衡量預期收益增長的一個很好的指標是市盈率,它根據收益前景決定了市場願意爲股票支付的價格。因此,您可能需要檢查江南億帆汽車有限公司相對於其行業是高市盈率還是低市盈率。
Is Jiangnan Yifan MotorLtd Using Its Retained Earnings Effectively?
江南一帆汽車有限公司是否在有效使用其留存收益?
Despite having a normal three-year median payout ratio of 39% (or a retention ratio of 61% over the past three years, Jiangnan Yifan MotorLtd has seen very little growth in earnings as we saw above. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
儘管江南億帆汽車有限公司的三年派息率中位數正常爲39%(或過去三年的留存率爲61%),但正如我們在上面看到的那樣,收益幾乎沒有增長。因此,可能還有其他一些原因可以解釋這方面的不足。例如,業務可能會下滑。
In addition, Jiangnan Yifan MotorLtd has been paying dividends over a period of three years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.
此外,江南一帆汽車有限公司在三年內一直在派發股息,這表明即使以業務增長爲代價,維持股息支付對管理層來說也更爲重要。
Conclusion
結論
Overall, we have mixed feelings about Jiangnan Yifan MotorLtd. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. You can see the 3 risks we have identified for Jiangnan Yifan MotorLtd by visiting our risks dashboard for free on our platform here.
總的來說,我們對江南億帆汽車有限公司有喜憂參半的感覺。儘管鑑於投資回報率低,它似乎保留了大部分利潤,但投資者畢竟可能無法從所有這些再投資中受益。低收入增長表明我們的理論是正確的。總而言之,我們將謹慎對待這家公司,其中一種方法是研究該業務的風險狀況。您可以訪問我們的 3 種風險來查看我們爲江南億帆汽車有限公司確定的三種風險 風險儀表板 在我們的平台上免費使用。
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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。