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Shenzhen Zhilai Sci and Tech's (SZSE:300771) Solid Profits Have Weak Fundamentals

Shenzhen Zhilai Sci and Tech's (SZSE:300771) Solid Profits Have Weak Fundamentals

深圳智萊科技(SZSE:300771)盈利穩定但基本面疲弱
Simply Wall St ·  11/06 08:47

Last week's profit announcement from Shenzhen Zhilai Sci and Tech Co., Ltd. (SZSE:300771) was underwhelming for investors, despite headline numbers being robust. We did some digging and found some worrying underlying problems.

上週,深圳智萊科技股份有限公司(SZSE:300771)的利潤公告,儘管頭條數字表現強勁,但令投資者感到失望。 我們進行了一些調查,並發現了一些令人擔憂的潛在問題。

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SZSE:300771 Earnings and Revenue History November 6th 2024
SZSE:300771 盈利和營業收入歷史 2024年11月6日

How Do Unusual Items Influence Profit?

非常規項目如何影響利潤?

To properly understand Shenzhen Zhilai Sci and Tech's profit results, we need to consider the CN¥20m gain attributed to unusual items. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. 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. We can see that Shenzhen Zhilai Sci and Tech's positive unusual items were quite significant relative to its profit in the year to September 2024. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.

要正確理解深圳智萊科技的盈利結果,我們需要考慮到歸因於飛凡項目的人民幣2000萬的收益。 儘管盈利增長總是令人愉悅的,但來自飛凡項目的大額貢獻有時會減弱我們的熱情。 當我們分析全球絕大多數上市公司時,我們發現重大的飛凡項目通常不會重複。 而且,畢竟,這正是會計術語所暗示的。 我們可以看到,相較於2024年9月的盈利,深圳智萊科技的正面飛凡項目相當顯著。 因此,我們可以推斷出這些飛凡項目使其法定盈利顯著強於其他情況。

Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Shenzhen Zhilai Sci and Tech.

注意:我們始終建議投資者檢查資產負債表強度。 點擊這裏查看我們對深圳智萊科技的資產負債表分析。

Our Take On Shenzhen Zhilai Sci and Tech's Profit Performance

我們對深圳智萊科技的盈利表現的看法

As we discussed above, we think the significant positive unusual item makes Shenzhen Zhilai Sci and Tech's earnings a poor guide to its underlying profitability. For this reason, we think that Shenzhen Zhilai Sci and Tech's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. On the bright side, the company showed enough improvement to book a profit this year, after losing money last year. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. To that end, you should learn about the 3 warning signs we've spotted with Shenzhen Zhilai Sci and Tech (including 1 which shouldn't be ignored).

如上所述,我們認爲重大正面的飛凡項目使得智萊科技股份有限公司的盈利情況不適於作爲其潛在盈利能力的良好參考。因此,我們認爲智萊科技股份有限公司的法定利潤可能不適合作爲其潛在盈利能力的良好指引,並且可能會讓投資者對公司產生過於樂觀的印象。然而,公司今年實現了足夠的改善,從去年的虧損轉爲盈利。本文的目標是評估我們能否依賴法定收益來反映公司的潛力,但還有很多要考慮的因素。基於此,如果您希望對該公司進行更多分析,了解所涉風險至關重要。爲此,您應了解我們發現的智萊科技股份有限公司存在的3個警示信號(其中1個不容忽視)。

This note has only looked at a single factor that sheds light on the nature of Shenzhen Zhilai Sci and Tech's profit. But there are plenty of other ways to inform your opinion of a company. 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. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful.

本文只討論了一項揭示智萊科技股份有限公司盈利性質的單一因素。但是還有很多其他方法可以形成對公司的看法。例如,許多人認爲高股權回報率是有利的商業經濟的指標,而其他人則喜歡『追隨資金』並尋找內部人士在購買的股票。儘管這可能需要您做一些調查研究,但您可能會發現這些免費的公司收集高股權回報率,或者這份內部人士持有大量股票清單,會對您有所幫助。

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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.

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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。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對提及的任何股票都沒有持倉。

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