Earnings Are Growing at Shanghai Kehua Bio-EngineeringLtd (SZSE:002022) but Shareholders Still Don't Like Its Prospects
Earnings Are Growing at Shanghai Kehua Bio-EngineeringLtd (SZSE:002022) but Shareholders Still Don't Like Its Prospects
Investing in stocks inevitably means buying into some companies that perform poorly. But the last three years have been particularly tough on longer term Shanghai Kehua Bio-Engineering Co.,Ltd (SZSE:002022) shareholders. Unfortunately, they have held through a 57% decline in the share price in that time. The more recent news is of little comfort, with the share price down 38% in a year. Furthermore, it's down 14% in about a quarter. That's not much fun for holders. But this could be related to the weak market, which is down 8.2% in the same period.
投資股票不可避免地意味著買入一些業績不佳的公司。但過去三年對長期而言尤其艱難。上海科華生物工程有限公司(SZSE:002022)股東。不幸的是,在那段時間裡,他們挺過了股價57%的跌幅。最近的消息並不令人欣慰,該公司股價在一年內下跌了38%。此外,它在大約四分之一的時間裡下跌了14%。對於持有者來說,這並不是什麼樂趣。但這可能與市場疲軟有關,同期市場下跌8.2%。
After losing 8.1% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.
在過去一週下跌8.1%之後,有必要調查一下該公司的基本面,看看我們可以從過去的表現中推斷出什麼。
See our latest analysis for Shanghai Kehua Bio-EngineeringLtd
查看我們對上海科華生物工程有限公司的最新分析
In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
在他的文章中格雷厄姆和多德斯維爾的超級投資者沃倫·巴菲特描述了股價並不總是理性地反映一家企業的價值。一種不完美但簡單的方法來考慮市場對一家公司的看法是如何改變的,那就是將每股收益(EPS)的變化與股價走勢進行比較。
Although the share price is down over three years, Shanghai Kehua Bio-EngineeringLtd actually managed to grow EPS by 54% per year in that time. This is quite a puzzle, and suggests there might be something temporarily buoying the share price. Or else the company was over-hyped in the past, and so its growth has disappointed.
儘管股價在三年多的時間裡下跌,但在此期間,上海科華生物工程有限公司實際上實現了每股收益每年54%的增長。這是一個相當令人費解的問題,表明可能有什麼因素暫時提振了股價。或者,該公司過去被過度炒作,因此其增長令人失望。
Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
由於每股收益的變化似乎與股價的變化沒有相關性,因此值得看看其他指標。
Given the healthiness of the dividend payments, we doubt that they've concerned the market. We like that Shanghai Kehua Bio-EngineeringLtd has actually grown its revenue over the last three years. If the company can keep growing revenue, there may be an opportunity for investors. You might have to dig deeper to understand the recent share price weakness.
考慮到股息支付的健康程度,我們懷疑它們是否引起了市場的擔憂。我們很高興上海科華生物工程有限公司在過去三年裡實現了營收增長。如果該公司能夠保持收入增長,投資者可能會有機會。你可能需要更深入地挖掘才能理解最近的股價疲軟。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
該公司的收入和收益(隨著時間的推移)如下圖所示(點擊查看具體數位)。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231021/0-e903a74925bf83eff068061900382247-0-dbbc3de42dbeb26fe0ba0634191695d6.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
你可以看到它的資產負債表是如何隨著時間的推移而加強(或削弱)的免費互動式圖形。
What About Dividends?
那股息呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. We note that for Shanghai Kehua Bio-EngineeringLtd the TSR over the last 3 years was -53%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
重要的是要考慮任何給定股票的總股東回報以及股價回報。TSR是一種回報計算,計入了現金股息的價值(假設收到的任何股息都進行了再投資),以及任何貼現融資和剝離的計算價值。因此,對於支付豐厚股息的公司來說,TSR往往比股價回報高得多。我們注意到,上海科華生物工程有限公司過去3年的總回報率為-53%,好於上述股價回報率。這在很大程度上是其股息支付的結果!
A Different Perspective
不同的視角
While the broader market lost about 5.8% in the twelve months, Shanghai Kehua Bio-EngineeringLtd shareholders did even worse, losing 34% (even including dividends). Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 1.4% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. It's always interesting to track share price performance over the longer term. But to understand Shanghai Kehua Bio-EngineeringLtd better, we need to consider many other factors. For example, we've discovered 1 warning sign for Shanghai Kehua Bio-EngineeringLtd that you should be aware of before investing here.
雖然大盤在過去12個月裡下跌了約5.8%,但上海科華生物工程股份有限公司的股東表現更差,下跌了34%(甚至包括股息)。話雖如此,在下跌的市場中,一些股票不可避免地會被超賣。關鍵是要密切關注基本面的發展。令人遺憾的是,去年的業績為糟糕的表現畫上了句號,股東們在五年內面臨著每年1.4%的總虧損。我們意識到,羅斯柴爾德男爵曾說過,投資者應該“在街上血淋淋的時候買入”,但我們警告投資者,首先應該確保他們購買的是一家高質量的企業。跟蹤股價的長期表現總是很有趣的。但要更好地瞭解上海科華生物工程有限公司,我們還需要考慮許多其他因素。例如,我們發現上海科華生物工程有限公司的1個警告標誌在這裡投資之前你應該意識到這一點。
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
對於那些想要找到贏得投資這免費最近有內幕收購的不斷增長的公司名單可能就是合適的選擇。
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交易的股票的市場加權平均回報。
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對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫.或者,也可以給編輯組發電子郵件,地址是暗示Wallst.com。
本文由Simply Wall St.撰寫,具有概括性.我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議.它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況.我們的目標是為您帶來由基本面數據驅動的長期重點分析.請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內.Simply Wall St.對上述任何一隻股票都沒有持倉.