Despite Delivering Investors Losses of 20% Over the Past 3 Years, Zhejiang Guyuelongshan Shaoxing WineLtd (SHSE:600059) Has Been Growing Its Earnings
Despite Delivering Investors Losses of 20% Over the Past 3 Years, Zhejiang Guyuelongshan Shaoxing WineLtd (SHSE:600059) Has Been Growing Its Earnings
For many investors, the main point of stock picking is to generate higher returns than the overall market. But if you try your hand at stock picking, your risk returning less than the market. We regret to report that long term Zhejiang Guyuelongshan Shaoxing Wine Co.,Ltd (SHSE:600059) shareholders have had that experience, with the share price dropping 22% in three years, versus a market decline of about 15%.
對於許多投資者來說,選股的要點是產生比整個市場更高的回報。但是,如果你嘗試選股,你的風險回報低於市場。我們很遺憾地報告,從長遠來看,浙江古越龍山紹興酒有限公司, Ltd(SHSE: 600059)的股東也有過這樣的經歷,股價在三年內下跌了22%,而市場下跌了約15%。
While the stock has risen 5.0% in the past week but long term shareholders are still in the red, let's see what the fundamentals can tell us.
儘管該股在過去一週上漲了5.0%,但長期股東仍處於虧損狀態,但讓我們看看基本面能告訴我們什麼。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
不可否認,市場有時是有效的,但價格並不總是能反映潛在的業務表現。評估公司情緒變化的一種有缺陷但合理的方法是將每股收益(EPS)與股價進行比較。
Although the share price is down over three years, Zhejiang Guyuelongshan Shaoxing WineLtd actually managed to grow EPS by 0.4% per year in that time. Given the share price reaction, one might suspect that EPS is not a good guide to the business performance during the period (perhaps due to a one-off loss or gain). Alternatively, growth expectations may have been unreasonable in the past.
儘管股價在三年內下跌,但在這段時間內,浙江古越龍山紹興酒業有限公司的每股收益實際上每年增長0.4%。鑑於股價的反應,人們可能會懷疑每股收益並不能很好地指導該期間的業務表現(可能是由於一次性的虧損或收益)。或者,過去的增長預期可能不合理。
It looks to us like the market was probably too optimistic around growth three years ago. Looking to other metrics might better explain the share price change.
在我們看來,三年前市場對增長可能過於樂觀。研究其他指標可能會更好地解釋股價的變化。
The modest 0.9% dividend yield is unlikely to be guiding the market view of the stock. Revenue is actually up 6.4% over the three years, so the share price drop doesn't seem to hinge on revenue, either. This analysis is just perfunctory, but it might be worth researching Zhejiang Guyuelongshan Shaoxing WineLtd more closely, as sometimes stocks fall unfairly. This could present an opportunity.
0.9%的適度股息收益率不太可能指導該股的市場觀點。在過去的三年中,收入實際上增長了6.4%,因此股價下跌似乎也不取決於收入。這種分析只是敷衍了事,但可能值得更仔細地研究浙江古越龍山紹興酒業有限公司,因爲有時股票會不公平地下跌。這可能帶來機會。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240316/0-474b9ab583490a35432f64e2aa483770-0-bf66d5f7a48ea0ce45f42da9bf6aa894.png/big)
If you are thinking of buying or selling Zhejiang Guyuelongshan Shaoxing WineLtd stock, you should check out this FREE detailed report on its balance sheet.
如果你想買入或賣出浙江古越龍山紹興酒業有限公司的股票,你應該查看這份關於其資產負債表的免費詳細報告。
A Different Perspective
不同的視角
The total return of 12% received by Zhejiang Guyuelongshan Shaoxing WineLtd shareholders over the last year isn't far from the market return of -11%. Longer term investors wouldn't be so upset, since they would have made 3%, each year, over five years. If the stock price has been impacted by changing sentiment, rather than deteriorating business conditions, it could spell opportunity. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Consider risks, for instance. Every company has them, and we've spotted 1 warning sign for Zhejiang Guyuelongshan Shaoxing WineLtd you should know about.
去年,浙江古越龍山紹興酒業有限公司股東獲得的12%的總回報率與-11%的市場回報率相差不遠。長期投資者不會那麼沮喪,因爲他們本可以在五年內每年賺3%。如果股價受到情緒變化的影響,而不是商業狀況惡化,則可能意味着機會。我發現將長期股價視爲業務績效的代表非常有趣。但是,要真正獲得見解,我們還需要考慮其他信息。例如,考慮風險。每家公司都有它們,我們發現了一個你應該知道的浙江古越龍山紹興酒業有限公司的警告標誌。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: insiders have been buying them).
如果你想與管理層一起購買股票,那麼你可能會喜歡這份免費的公司名單。(提示:業內人士一直在購買它們)。
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。
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。