Is CIMC Vehicles (Group) Co., Ltd.'s (SZSE:301039) Recent Performance Tethered To Its Attractive Financial Prospects?
Is CIMC Vehicles (Group) Co., Ltd.'s (SZSE:301039) Recent Performance Tethered To Its Attractive Financial Prospects?
CIMC Vehicles (Group)'s (SZSE:301039) stock is up by 2.7% over the past week. Given its impressive performance, we decided to study the company's key financial indicators as a company's long-term fundamentals usually dictate market outcomes. In this article, we decided to focus on CIMC Vehicles (Group)'s ROE.
在過去的一週中，中集車輛（集團）（SZSE：301039）的股票上漲了2.7%。鑑於其令人印象深刻的表現，我們決定研究該公司的關鍵財務指標，因爲公司的長期基礎通常決定市場結果。在本文中，我們決定重點關注中集車輛（集團）的roe。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
對於股東來說，股東回報率（ROE）是一個重要的考慮因素，因爲它告訴股東他們的資本被有效地再投資了多少。換句話說，它是一個衡量公司股東提供的資本回報率的盈利能力比率。
How Do You Calculate Return On Equity?
怎樣計算ROE?
Return on equity can be calculated by using the formula:
股東權益報酬率可以使用以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for CIMC Vehicles (Group) is:
所以，根據上述公式，中集車輛（集團）的roe爲：
14% = CN¥2.2b ÷ CN¥16b (Based on the trailing twelve months to March 2024).
14％=CN¥2.2b ÷ CN¥16b（基於截至2024年3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¥0.14 in profit.
“回報”是過去十二個月的利潤。這意味着對於每一元人民幣的股東權益，該公司產生了0.14元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
既然我們已經確定ROE是一種有效的利潤生成標準，用於評估公司未來的盈利能力，我們現在需要評估公司“保留”爲未來增長而重新投資的利潤多少，這使我們對公司的增長潛力有了一個了解。一般而言，在其他條件相等的情況下，ROE和利潤留存高的公司，增長率比沒有這些屬性的公司要高。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
我們已經確定，roe是一個有效的利潤生成衡量標準，用於評估公司未來的盈利能力。根據公司再投資或“保留”這些利潤的比例以及這樣做的有效性，我們能夠評估公司的盈利增長潛力。假設其他所有因素保持不變，roe和利潤保留的比例越高，相對於沒有這些特徵的公司，公司的增長率就越高。
A Side By Side comparison of CIMC Vehicles (Group)'s Earnings Growth And 14% ROE
中集車輛（集團）的盈利增長和14％的roe的並列比較
To start with, CIMC Vehicles (Group)'s ROE looks acceptable. On comparing with the average industry ROE of 6.8% the company's ROE looks pretty remarkable. This probably laid the ground for CIMC Vehicles (Group)'s moderate 16% net income growth seen over the past five years.
首先，中集車輛（集團）的roe看起來是可以接受的。與行業平均roe的6.8％相比，公司的roe看起來相當出色。這可能爲中集車輛（集團）過去五年中適度的16％淨利潤增長奠定了基礎。
As a next step, we compared CIMC Vehicles (Group)'s net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 9.4%.
作爲下一步，我們將中集車輛（集團）的淨利潤增長與行業進行了比較，令人高興的是，我們發現該公司的增長比行業平均增長率9.4％高。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is CIMC Vehicles (Group) fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增長是股票估值的一個重要因素。投資者了解市場是否已經定價了公司預期的盈利增長（或下降）很重要。這將幫助他們確定股票的未來前景是光明的還是不樂觀的。中集車輛（集團）是否與其他公司相比定價合理？這三個估值方法可能會幫助您做出決策。
Is CIMC Vehicles (Group) Using Its Retained Earnings Effectively?
中集車輛（集團）是否有效地利用其留存收益？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a regular dividend. We infer that the company has been reinvesting all of its profits to grow its business.
雖然該公司過去支付了一部分股息，但目前不支付常規股息。我們推斷該公司已經用全部利潤來維持業務增長。
Summary
總的來說，我們對偉明環保的表現非常滿意。具體而言，我們喜歡公司以高回報率再投資了其利潤的很大一部分。當然，這導致公司的收益大幅增長。但是，最新的行業分析師預測表明，該公司的收益預計將加速增長。
On the whole, we feel that CIMC Vehicles (Group)'s performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們覺得中集車輛（集團）的表現相當不錯。具體來說，我們喜歡該公司以高回報率再投資其巨額利潤所帶來的收益顯着增長。話雖如此，在研究目前的分析師預測時，我們擔心儘管該公司過去增長了其盈利，但分析師預計其盈利將在未來收縮。要了解有關公司最新分析師預測的更多信息，請查看此可視化的分析師預測。
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