Investors Three-year Losses Continue as Ningbo Huaxiang Electronic (SZSE:002048) Dips a Further 5.1% This Week, Earnings Continue to Decline
Investors Three-year Losses Continue as Ningbo Huaxiang Electronic (SZSE:002048) Dips a Further 5.1% This Week, Earnings Continue to Decline
Investors are understandably disappointed when a stock they own declines in value. But it's hard to avoid some disappointing investments when the overall market is down. While the Ningbo Huaxiang Electronic Co., Ltd. (SZSE:002048) share price is down 37% in the last three years, the total return to shareholders (which includes dividends) was -22%. That's better than the market which declined 29% over the last three years. The falls have accelerated recently, with the share price down 15% in the last three months. Of course, this share price action may well have been influenced by the 11% decline in the broader market, throughout the period.
當股票價格下跌時,投資者顯然會感到失望。但是當整個市場下跌時,很難避免一些失望的投資。寧波華翔電子股份有限公司(SZSE:002048)的股價在過去三年下跌了37%,但股東的總回報(包括分紅派息)爲-22%。這比過去三年市場下跌29%要好。最近股價下跌加速,過去三個月股價下跌了15%。當然,這種股價變化可能受到整個時期市場下跌11%的影響。
Since Ningbo Huaxiang Electronic has shed CN¥538m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
由於寧波華翔電子在過去7天中市值下降了53800萬元,讓我們看看長期的下跌是否受到了業務經濟的推動。
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.
市場有時毫無疑問是有效的,但股票價格並不總是反映基本業務表現。一種有缺陷但合理的方法是比較每股收益(EPS)和股票價格,以評估圍繞公司的情緒如何變化。
During the three years that the share price fell, Ningbo Huaxiang Electronic's earnings per share (EPS) dropped by 6.6% each year. The share price decline of 14% is actually steeper than the EPS slippage. So it seems the market was too confident about the business, in the past. This increased caution is also evident in the rather low P/E ratio, which is sitting at 9.47.
在股價下跌的三年中,寧波華翔電子的每股收益(EPS)每年下降6.6%。股價下跌14%,實際上比EPS下跌更加陡峭。因此,過去,市場對業務的信心過於強烈。這種增加的謹慎在P / E比率相當低的情況下也很明顯,P / E比率爲9.47。
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
下面可以看到每股收益隨時間的變化情況(通過點擊圖像來查看確切數值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240808/0-ba7e9750c2fb718b94fe789b24019aee-0-9650749c6a0464185481e9e300d59f7f.png/big)
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在購買或出售股票之前,我們始終建議對歷史增長趨勢進行仔細研究,可以在這裏找到相關信息。
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 is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Ningbo Huaxiang Electronic's TSR for the last 3 years was -22%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在看待投資回報時,考慮總股東回報率(TSR)與股價回報率之間的差異很重要。 TSR是一個計算回報的公式,考慮到現金分紅的價值(假設任何所得到的分紅都被再次投資)以及任何折價的資本增發和剝離的計算價值。可以說,TSR爲支付股息的股票提供了更完整的圖片。事實上,寧波華翔電子過去三年的TSR爲-22%,超過了之前提到的股票價格回報率。這在很大程度上是由於股息支付造成的!
A Different Perspective
不同的觀點
While it's certainly disappointing to see that Ningbo Huaxiang Electronic shares lost 4.1% throughout the year, that wasn't as bad as the market loss of 19%. Of course, the long term returns are far more important and the good news is that over five years, the stock has returned 11% for each year. In the best case scenario the last year is just a temporary blip on the journey to a brighter future. It's always interesting to track share price performance over the longer term. But to understand Ningbo Huaxiang Electronic better, we need to consider many other factors. Even so, be aware that Ningbo Huaxiang Electronic is showing 1 warning sign in our investment analysis , you should know about...
雖然看到寧波華翔電子股票在過去一年中損失了4.1%,這當然令人失望,但這並不像市場損失19%那樣糟糕。當然,長期回報更爲重要,好消息是,在過去五年中,該股票每年的回報率爲11%。在最理想的情況下,過去一年只是通往更光明未來的暫時性波動。跟蹤股價的長期表現總是很有意思。但是,爲了更好地了解寧波華翔電子,我們需要考慮許多其他因素。即便如此,請注意,我們的投資分析顯示寧波華翔電子有一個警告信號,你需要知道...
If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying.
如果您像我一樣,就不會希望錯過這份免費的內部人士正在購買的低估小市值股票列表。
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.
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@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。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋?對內容有任何疑慮?請直接與我們聯繫。或者,發送電子郵件至editorial-team@simplywallst.com。