Shanghai Jinjiang International Travel's (SHSE:900929) Solid Profits Have Weak Fundamentals
Shanghai Jinjiang International Travel's (SHSE:900929) Solid Profits Have Weak Fundamentals
Shanghai Jinjiang International Travel Co., Ltd.'s (SHSE:900929) robust earnings report didn't manage to move the market for its stock. Our analysis suggests that shareholders have noticed something concerning in the numbers.
上海錦江國際旅遊有限公司's(上海證券交易所代碼:900929)強勁的收益報告未能推動其股票的市場走勢。我們的分析表明,股東們注意到了一些令人擔憂的數字。
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The Impact Of Unusual Items On Profit
不尋常物品對利潤的影響
Importantly, our data indicates that Shanghai Jinjiang International Travel's profit received a boost of CN¥3.9m in unusual items, over the last year. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Shanghai Jinjiang International Travel's positive unusual items were quite significant relative to its profit in the year to December 2023. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
重要的是,我們的數據表明,與去年相比,上海錦江國際旅行社的不尋常項目利潤增加了390萬元人民幣。我們不能否認更高的利潤通常會讓我們感到樂觀,但如果利潤是可持續的,我們更願意這樣做。我們統計了全球大多數上市公司的數字,不尋常的物品在自然界中很常見。這正如你所預料的那樣,因爲這些增強被描述爲 “不尋常”。我們可以看到,截至2023年12月的一年中,上海錦江國際旅遊的積極不尋常項目相對於其利潤相當可觀。因此,我們可以推測,這些不尋常的物品使其法定利潤明顯高於原來的水平。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Shanghai Jinjiang International Travel.
注意:我們始終建議投資者檢查資產負債表的實力。點擊此處查看我們對上海錦江國際旅行社的資產負債表分析。
Our Take On Shanghai Jinjiang International Travel's Profit Performance
我們對上海錦江國際旅行社盈利表現的看法
As previously mentioned, Shanghai Jinjiang International Travel's large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. As a result, we think it may well be the case that Shanghai Jinjiang International Travel's underlying earnings power is lower than its statutory profit. On the bright side, the company showed enough improvement to book a profit this year, after losing money last year. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. If you want to do dive deeper into Shanghai Jinjiang International Travel, you'd also look into what risks it is currently facing. Case in point: We've spotted 2 warning signs for Shanghai Jinjiang International Travel you should be mindful of and 1 of them is significant.
如前所述,上海錦江國際旅行社不會無限期地從不尋常的項目中獲得巨大提振,因此其法定收益可能無法很好地指導其潛在盈利能力。因此,我們認爲上海錦江國際旅行社的潛在盈利能力很可能低於其法定利潤。好的一面是,該公司在去年虧損之後,表現出了足夠的改善,今年實現了盈利。歸根結底,如果你想正確地了解公司,必須考慮的不僅僅是上述因素。如果你想更深入地了解上海錦江國際旅遊,你還需要研究它目前面臨的風險。一個很好的例子:我們發現了兩個你應該注意的上海錦江國際旅行社的警告標誌,其中一個信號很重要。
This note has only looked at a single factor that sheds light on the nature of Shanghai Jinjiang International Travel's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
這份報告只研究了揭示上海錦江國際旅行社利潤性質的單一因素。但是,還有很多其他方法可以讓你對公司的看法。有些人認爲高股本回報率是優質業務的好兆頭。因此,你可能希望看到這份免費收藏的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單。
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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。