Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
Jason Furniture (Hangzhou) Co.,Ltd. (SHSE:603816) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
Jason Furniture (Hangzhou)Ltd (SHSE:603816) has had a rough three months with its share price down 15%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. Particularly, we will be paying attention to Jason Furniture (Hangzhou)Ltd's ROE today.
杰森家具（杭州）有限公司（SHSE：603816）经历了艰难的三个月，其股价下跌了15％。但是，如果你密切关注，你可能会发现，鉴于市场通常会奖励财务状况良好的公司，其强劲的财务状况可能意味着该股的长期价值有可能增加。特别是，我们今天将关注杰森家具（杭州）有限公司的投资回报率。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率或投资回报率是股东需要考虑的重要因素，因为它可以告诉他们资本再投资的有效性。简而言之，它衡量公司相对于股东权益的盈利能力。
Check out our latest analysis for Jason Furniture (Hangzhou)Ltd
查看我们对杰森家具（杭州）有限公司的最新分析
How Do You Calculate Return On Equity?
你如何计算股本回报率？
The formula for ROE is:
ROE 的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for Jason Furniture (Hangzhou)Ltd is:
因此，根据上述公式，杰森家具（杭州）有限公司的投资回报率为：
19% = CN¥1.8b ÷ CN¥9.9b (Based on the trailing twelve months to June 2023).
19% = 18亿元人民币 ≤99亿元人民币（基于截至2023年6月的过去十二个月）。
The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.19 in profit.
“回报” 是过去十二个月的利润。这意味着，每持有价值1元人民币的股东权益，该公司就会产生0.19元人民币的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
到目前为止，我们已经了解到，投资回报率衡量的是公司创造利润的效率。现在，我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长，从而使我们对公司的增长潜力有所了解。假设其他一切保持不变，那么与不一定具有这些特征的公司相比，投资回报率和利润保留率越高，公司的增长率就越高。
A Side By Side comparison of Jason Furniture (Hangzhou)Ltd's Earnings Growth And 19% ROE
杰森家具（杭州）有限公司收益增长和19％投资回报率的并行比较
To begin with, Jason Furniture (Hangzhou)Ltd seems to have a respectable ROE. On comparing with the average industry ROE of 10% the company's ROE looks pretty remarkable. This certainly adds some context to Jason Furniture (Hangzhou)Ltd's decent 15% net income growth seen over the past five years.
首先，杰森家具（杭州）有限公司似乎拥有可观的投资回报率。与10％的行业平均投资回报率相比，该公司的投资回报率看起来相当可观。这无疑为杰森家具（杭州）有限公司在过去五年中实现了15％的可观净收入增长增添了一些背景信息。
As a next step, we compared Jason Furniture (Hangzhou)Ltd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 7.8%.
下一步，我们将杰森家具（杭州）有限公司的净收入增长与行业进行了比较，令人高兴的是，我们发现该公司的增长高于7.8％的行业平均增长。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. If you're wondering about Jason Furniture (Hangzhou)Ltd's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.
收益增长是股票估值的重要因素。对于投资者来说，重要的是要知道市场是否影响了公司的预期收益增长（或下降）。然后，这可以帮助他们确定股票是面向光明还是黯淡的未来。如果你想知道杰森家具（杭州）有限公司的估值，可以看看这个衡量其市盈率与行业比较的指标。
Is Jason Furniture (Hangzhou)Ltd Using Its Retained Earnings Effectively?
杰森家具（杭州）有限公司是否在有效使用其留存收益？
The high three-year median payout ratio of 50% (or a retention ratio of 50%) for Jason Furniture (Hangzhou)Ltd suggests that the company's growth wasn't really hampered despite it returning most of its income to its shareholders.
杰森家具（杭州）有限公司的三年中位派息率高达50％（或留存率为50％），这表明尽管将大部分收入返还给了股东，但该公司的增长并没有受到真正的阻碍。
Besides, Jason Furniture (Hangzhou)Ltd has been paying dividends over a period of six years. This shows that the company is committed to sharing profits with its shareholders. Upon studying the latest analysts' consensus data, we found that the company is expected to keep paying out approximately 48% of its profits over the next three years. Therefore, the company's future ROE is also not expected to change by much with analysts predicting an ROE of 21%.
此外，杰森家具（杭州）有限公司在六年内一直在派发股息。这表明该公司致力于与股东分享利润。在研究了最新的分析师共识数据后，我们发现预计该公司将在未来三年内继续支付约48％的利润。因此，预计该公司未来的投资回报率也不会有太大变化，分析师预测投资回报率为21％。
Conclusion
结论
Overall, we are quite pleased with Jason Furniture (Hangzhou)Ltd's performance. Especially the high ROE, Which has contributed to the impressive growth seen in earnings. Despite the company reinvesting only a small portion of its profits, it still has managed to grow its earnings so that is appreciable. We also studied the latest analyst forecasts and found that the company's earnings growth is expected be similar to its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总体而言，我们对杰森家具（杭州）有限公司的表现感到非常满意。尤其是高投资回报率，这为收益的惊人增长做出了贡献。尽管该公司仅将利润的一小部分再投资，但它仍然设法增加了收益，因此这是可观的。我们还研究了分析师的最新预测，发现该公司的收益增长预计与目前的增长率相似。要详细了解分析师对公司的最新预测，请查看分析师对公司的预测的可视化。
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