Positive Sentiment Still Eludes Diwang Industrial Holdings Limited (HKG:1950) Following 29% Share Price Slump
Positive Sentiment Still Eludes Diwang Industrial Holdings Limited (HKG:1950) Following 29% Share Price Slump
Diwang Industrial Holdings certainly has been doing a great job lately as it's been growing its revenue at a really rapid pace. The P/S is probably moderate because investors think this strong revenue growth might not be enough to outperform the broader industry in the near future. Those who are bullish on Diwang Industrial Holdings will be hoping that this isn't the case, so that they can pick up the stock at a lower valuation. To the annoyance of some shareholders, Diwang Industrial Holdings Limited (HKG:1950) shares are down a considerable 29% in the last month, which continues a horrid run for the company. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 65% loss during that time.
令一些股东恼火的是，地王实业控股有限公司(HKG：1950)过去一个月，该公司股价大幅下跌29%，延续了可怕的涨势。最近的下跌为股东们灾难性的12个月画上了句号，在此期间，他们坐拥65%的损失。
Even after such a large drop in price, it's still not a stretch to say that Diwang Industrial Holdings' price-to-sales (or "P/S") ratio of 0.4x right now seems quite "middle-of-the-road" compared to the Chemicals industry in Hong Kong, seeing as it matches the P/S ratio of the wider industry. However, investors might be overlooking a clear opportunity or potential setback if there is no rational basis for the P/S.
即使在价格下跌如此之大之后，仍然可以毫不夸张地说，地王实业控股目前0.4倍的市售比(P/S)与香港化工行业相比似乎相当“中间”，因为它与更广泛行业的P/S比率相匹配。然而，如果市盈率没有理性基础，投资者可能会忽视一个明显的机会或潜在的挫折。
Check out our latest analysis for Diwang Industrial Holdings
查看我们对地王实业控股的最新分析
How Diwang Industrial Holdings Has Been Performing
帝王实业控股的表现如何
Diwang Industrial Holdings certainly has been doing a great job lately as it's been growing its revenue at a really rapid pace. The P/S is probably moderate because investors think this strong revenue growth might not be enough to outperform the broader industry in the near future. Those who are bullish on Diwang Industrial Holdings will be hoping that this isn't the case, so that they can pick up the stock at a lower valuation.
帝王实业控股最近确实做得很好，因为它的收入一直在以非常快的速度增长。S的市盈率可能是温和的，因为投资者认为，这种强劲的收入增长可能不足以在不久的将来跑赢整体行业。那些看好地王实业控股的人会希望情况并非如此，这样他们就可以以较低的估值买入该股。
Is There Some Revenue Growth Forecasted For Diwang Industrial Holdings?
地王实业控股有没有收入增长的预测？
There's an inherent assumption that a company should be matching the industry for P/S ratios like Diwang Industrial Holdings' to be considered reasonable.
有一个固有的假设，即一家公司应该与行业持平，才能让地王实业控股这样的市盈率被认为是合理的。
Retrospectively, the last year delivered an exceptional 63% gain to the company's top line. Pleasingly, revenue has also lifted 266% in aggregate from three years ago, thanks to the last 12 months of growth. So we can start by confirming that the company has done a great job of growing revenue over that time.
回顾过去一年，该公司营收实现了63%的不同寻常的增长。令人欣喜的是，得益于过去12个月的增长，该公司的总收入较三年前增长了266%。因此，我们可以从确认该公司在这段时间内在收入增长方面做得很好开始。
Comparing that recent medium-term revenue trajectory with the industry's one-year growth forecast of 12% shows it's noticeably more attractive.
将最近的中期营收轨迹与该行业12%的一年增长预期进行比较，可以看出它明显更具吸引力。
In light of this, it's curious that Diwang Industrial Holdings' P/S sits in line with the majority of other companies. Apparently some shareholders believe the recent performance is at its limits and have been accepting lower selling prices.
有鉴于此，令人好奇的是，地王实业控股的P/S与大多数其他公司坐在一起。显然，一些股东认为最近的表现已经到了极限，并一直在接受较低的售价。
The Key Takeaway
关键的外卖
Following Diwang Industrial Holdings' share price tumble, its P/S is just clinging on to the industry median P/S. It's argued the price-to-sales ratio is an inferior measure of value within certain industries, but it can be a powerful business sentiment indicator.
在地王实业股价暴跌后，其市盈率S只是紧盯着行业中值市盈率。有人认为，在某些行业，市销率是衡量价值的次要指标，但它可以成为一个强大的商业信心指标。
We've established that Diwang Industrial Holdings currently trades on a lower than expected P/S since its recent three-year growth is higher than the wider industry forecast. When we see strong revenue with faster-than-industry growth, we can only assume potential risks are what might be placing pressure on the P/S ratio. At least the risk of a price drop looks to be subdued if recent medium-term revenue trends continue, but investors seem to think future revenue could see some volatility.
我们已经确定，地王实业控股目前的市盈率低于预期，因为其最近三年的增长高于更广泛的行业预测。当我们看到强劲的营收和高于行业的增长时，我们只能假设潜在的风险可能会对市盈率/S比率构成压力。如果最近的中期营收趋势继续下去，至少价格下跌的风险看起来很低，但投资者似乎认为，未来的营收可能会出现一些波动。
It's always necessary to consider the ever-present spectre of investment risk. We've identified 4 warning signs with Diwang Industrial Holdings (at least 2 which make us uncomfortable), and understanding these should be part of your investment process.
总是有必要考虑到投资风险的幽灵无处不在。我们已经确定了地王实业控股公司的4个警告信号(至少有两个让我们不舒服)，理解这些应该是你投资过程的一部分。
If these risks are making you reconsider your opinion on Diwang Industrial Holdings, explore our interactive list of high quality stocks to get an idea of what else is out there.
如果这些风险让你重新考虑对地王实业的看法，探索我们的高质量股票互动列表，以了解还有什么。
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.
对这篇文章有什么反馈吗？担心内容吗？ 保持联系直接与我们联系。或者，也可以给编辑组发电子邮件，地址是implywallst.com。
本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。