Shandong Kaisheng New MaterialsLtd's (SZSE:301069) Problems Go Beyond Weak Profit
Shandong Kaisheng New MaterialsLtd's (SZSE:301069) Problems Go Beyond Weak Profit
The subdued market reaction suggests that Shandong Kaisheng New Materials Co.,Ltd.'s (SZSE:301069) recent earnings didn't contain any surprises. However, we believe that investors should be aware of some underlying factors which may be of concern.
市場反應平淡,表明山東開盛新材料有限公司(SZSE:301069)最近的盈利沒有任何驚喜。然而,我們認爲投資者應該關注一些潛在的令人生憂的因素。
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How Do Unusual Items Influence Profit?
不尋常項目如何影響利潤?
Importantly, our data indicates that Shandong Kaisheng New MaterialsLtd's profit received a boost of CN¥8.2m 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. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. Assuming those unusual items don't show up again in the current year, we'd thus expect profit to be weaker next year (in the absence of business growth, that is).
重要的是,我們的數據表明,山東開盛新材料有限公司的利潤在過去一年中因異常項目增長了820萬人民幣。我們不能否認,利潤上升通常讓我們感到樂觀,但我們更希望利潤能保持穩定。當我們分析全球大多數上市公司時發現,顯著的異常項目通常不會重複。畢竟,這正是會計術語所暗示的。如果假設這些異常項目在當前年度不會再次出現,那麼我們預計明年的利潤會較弱(假設沒有業務增長)。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Shandong Kaisheng New MaterialsLtd.
注意:我們始終建議投資者檢查資產負債表的強度。點擊這裏查看我們對山東開盛新材料有限公司的資產負債表分析。
Our Take On Shandong Kaisheng New MaterialsLtd's Profit Performance
我們對山東開盛新材料有限公司利潤表現的看法
Arguably, Shandong Kaisheng New MaterialsLtd's statutory earnings have been distorted by unusual items boosting profit. Therefore, it seems possible to us that Shandong Kaisheng New MaterialsLtd's true underlying earnings power is actually less than its statutory profit. Sadly, its EPS was down over the last twelve months. 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. With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. Be aware that Shandong Kaisheng New MaterialsLtd is showing 4 warning signs in our investment analysis and 1 of those is potentially serious...
可以說,山東凱盛新材料有限公司的法定收益被異常項目扭曲,提升了利潤。因此,我們認爲山東凱盛新材料有限公司的真實潛在收益能力實際上低於其法定利潤。遺憾的是,其每股收益在過去的十二個月中下降了。最終,如果你想正確理解這家公司,考慮的不僅僅是上述因素是至關重要的。考慮到這一點,除非我們對風險有透徹的理解,否則我們不會考慮投資於某隻股票。請注意,山東凱盛新材料有限公司在我們的投資分析中顯示出四個警告信號,其中一個可能是嚴重的...
Today we've zoomed in on a single data point to better understand the nature of Shandong Kaisheng New MaterialsLtd's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.
今天我們專注於一個單一的數據點,以更好地理解山東凱盛新材料有限公司的利潤性質。但如果你能專注於細微之處,總會有更多的發現。例如,許多人將高股本回報率視爲有利於業務經濟學的指標,而另一些人則喜歡「追蹤資金」,尋找內幕人士正在購買的股票。所以你可能希望查看這一免費收集的高股本回報率公司,或這份內幕持股比例高的股票名單。
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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.
對本文有反饋?對內容有疑慮?請直接與我們聯繫。或者,發送電子郵件至 editorial-team (at) simplywallst.com。
這篇來自Simply Wall ST的文章是一般性的。我們根據歷史數據和分析師預測提供評論,採用無偏見的方法,我們的文章並不旨在提供財務建議。它不構成對任何股票的買入或賣出建議,也未考慮到您的目標或財務狀況。我們旨在爲您提供以基本數據驅動的長期分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall ST在提到的任何股票中均沒有持倉。