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The Three-year Shareholder Returns and Company Earnings Persist Lower as Xiamen Jihong Technology (SZSE:002803) Stock Falls a Further 7.3% in Past Week

The Three-year Shareholder Returns and Company Earnings Persist Lower as Xiamen Jihong Technology (SZSE:002803) Stock Falls a Further 7.3% in Past Week

廈門吉宏科技(SZSE:002803)股票上週下跌了7.3%,三年股東回報率和公司收益持續下降。
Simply Wall St ·  06/07 22:00

Many investors define successful investing as beating the market average over the long term. But the risk of stock picking is that you will likely buy under-performing companies. Unfortunately, that's been the case for longer term Xiamen Jihong Technology Co., Ltd. (SZSE:002803) shareholders, since the share price is down 51% in the last three years, falling well short of the market decline of around 23%. And over the last year the share price fell 47%, so we doubt many shareholders are delighted. The falls have accelerated recently, with the share price down 23% in the last three months.

長期以來,許多投資者將成功的投資定義爲超過市場平均水平。但是股票投資的風險在於您很可能會購買表現不佳的公司。不幸的是,廈門吉宏科技股份有限公司(SZSE:002803)長期股東的情況就是如此,由於股價在過去三年中下跌了51%,遠遠低於市場下跌約23%的水平。過去一年,股價下跌了47%,因此我們懷疑不會有太多股東感到高興。最近,股價下跌了23%,跌幅加快。

If the past week is anything to go by, investor sentiment for Xiamen Jihong Technology isn't positive, so let's see if there's a mismatch between fundamentals and the share price.

如果過去一週有什麼可以參考的話,廈門吉宏科技的投資者情緒並不積極,所以讓我們看看基本面和股價之間是否存在不匹配。

In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS).

在他的文章《格雷厄姆和多德斯維爾超級投資者》中,禾倫·巴菲特描述了股票價格並不總是反映公司價值的合理方式。考慮市場對公司的看法如何發生變化的一個不完美但簡單的方法是將每股收益(EPS)的變化與股價的變動進行比較。股票價格並不總是反映公司價值的合理方式禾倫·巴菲特曾稱,股票價格並不總是合理地反映了企業的價值。檢查市場情緒如何隨時間變化的一種方法是查看公司股價和每股收益(EPS)之間的互動。

Xiamen Jihong Technology saw its EPS decline at a compound rate of 19% per year, over the last three years. This change in EPS is reasonably close to the 21% average annual decrease in the share price. So it seems like sentiment towards the stock hasn't changed all that much over time. It seems like the share price is reflecting the declining earnings per share.

廈門吉宏科技過去三年每股收益以複合年減少19%的速度下降。與股價年均下降21%的平均值相比,這種每股收益的變化相當接近。因此,看起來人們對該股票的情緒並沒有太大改變。看起來股價反映了每股收益的下降。

The image below shows how EPS has tracked over time (if you click on the image you can see greater detail).

下圖顯示了EPS隨時間的變化情況(如果您單擊該圖像,則可以查看更多詳細信息)。

earnings-per-share-growth
SZSE:002803 Earnings Per Share Growth June 8th 2024
SZSE:002803每股收益增長2024年6月8日

We know that Xiamen Jihong Technology has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.

我們知道廈門吉宏科技最近改善了其底線,但它是否會增長營業收入呢?如果您感興趣,可以查看這份免費報告,其中顯示了共識營收預測。

What About Dividends?

那麼分紅怎麼樣呢?

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Xiamen Jihong Technology, it has a TSR of -48% for the last 3 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return.

在考慮投資回報時,重要的是考慮總股東回報(TSR)和股票回報之間的差異。 TSR包括任何剝離或折讓的資本籌集(基於股息被重新投資的假設),以及任何股息。因此,對於支付慷慨的股息公司而言,TSR通常比股票回報高得多。就中國神威藥業集團而言,其TSR在過去5年中達到了75%。這超過了我們之前提到的股票回報。該公司支付的股息已經提高了總股東回報。總股東回報股票回報TSR包括任何分拆或折價增資的價值,以及任何分紅,假設股息被再投資。可以說TSR爲支付股息的股票提供了更完整的圖片。就廈門吉宏科技而言,過去3年的TSR爲-48%。超過了我們之前提到過的股價回報。該公司支付的股息因此提高了股東回報。

A Different Perspective

不同的觀點

We regret to report that Xiamen Jihong Technology shareholders are down 45% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 12%. 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. On the bright side, long term shareholders have made money, with a gain of 2% per year over half a decade. It could be that the recent sell-off is an opportunity, so it may be worth checking the fundamental data for signs of a long term growth trend. 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 Xiamen Jihong Technology you should be aware of.

我們很遺憾地報告,廈門紀宏科技的股東今年跌了45%(即使包括分紅派息在內)。 不幸的是,這比市場總體下降12%還要糟糕。 話雖如此,在下跌的市場中,有些股票被過度拋售是不可避免的。 關鍵是關注基本面的發展。 光明的一面是,長期股東賺了錢,半個十年的年增長率爲2%。 最近的拋售可能是一個機會,所以值得查看基本數據以了解長期增長趨勢的跡象。 雖然考慮市場條件對股價的不同影響非常值得,但還有其他更重要的因素。 例如:我們已經發現了一項廈門紀宏科技應該注意的1個警示信號。

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

對於那些喜歡尋找獲勝投資的人來說,最近有內部購買的低估公司免費列表可能是一個很好的選擇。

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上市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.

對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或電郵 editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。

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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