Declining Stock and Solid Fundamentals: Is The Market Wrong About Hongli Zhihui Group Co.,Ltd. (SZSE:300219)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Hongli Zhihui Group Co.,Ltd. (SZSE:300219)?
Hongli Zhihui GroupLtd (SZSE:300219) has had a rough week with its share price down 9.2%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. In this article, we decided to focus on Hongli Zhihui GroupLtd's ROE.
宏立智彙集團有限公司（深圳證券交易所代碼：300219）經歷了艱難的一週，其股價下跌了9.2％。但是，股票價格通常由公司的長期財務業績驅動，在這種情況下，這看起來很有希望。在這篇文章中，我們決定重點關注宏利智彙集團有限公司的投資回報率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回報率或投資回報率是對公司價值增長和管理投資者資金的有效性的考驗。簡而言之，它衡量公司相對於股東權益的盈利能力。
See our latest analysis for Hongli Zhihui GroupLtd
查看我們對宏立智彙集團有限公司的最新分析
How Is ROE Calculated?
ROE 是如何計算的？
The formula for return on equity is:
股本回報率的公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營）÷ 股東權益
So, based on the above formula, the ROE for Hongli Zhihui GroupLtd is:
因此，根據以上公式，宏立智彙集團有限公司的投資回報率爲：
8.8% = CN¥225m ÷ CN¥2.6b (Based on the trailing twelve months to September 2023).
8.8% = 2.25億元人民幣 ÷ 26億元人民幣（基於截至2023年9月的過去十二個月）。
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.09 in profit.
“回報” 是指公司去年的收益。另一種思考方式是，公司每擁有價值1元人民幣的股權，就能獲得0.09元的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係？
So far, we've learned that ROE is a measure of a company's profitability. 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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.
到目前爲止，我們已經了解到，投資回報率是衡量公司盈利能力的指標。我們現在需要評估公司再投資或 “保留” 了多少利潤以用於未來的增長，這樣我們就可以了解公司的增長潛力。一般而言，在其他條件相同的情況下，股本回報率和利潤保留率高的公司比不具備這些屬性的公司的增長率更高。
Hongli Zhihui GroupLtd's Earnings Growth And 8.8% ROE
鴻利智彙集團有限公司的收益增長和8.8％的投資回報率
When you first look at it, Hongli Zhihui GroupLtd's ROE doesn't look that attractive. However, the fact that the company's ROE is higher than the average industry ROE of 6.4%, is definitely interesting. Especially when you consider Hongli Zhihui GroupLtd's exceptional 36% net income growth over the past five years. That being said, the company does have a slightly low ROE to begin with, just that it is higher than the industry average. Therefore, the growth in earnings could also be the result of other factors. E.g the company has a low payout ratio or could belong to a high growth industry.
當你第一次看時，宏利智彙集團有限公司的投資回報率看起來並不那麼吸引人。但是，該公司的投資回報率高於6.4％的行業平均投資回報率，這一事實絕對很有趣。尤其是考慮到宏力智彙集團有限公司在過去五年中實現了36％的驚人淨收入增長。話雖如此，該公司的投資回報率一開始確實略低，只是高於行業平均水平。因此，收益的增長也可能是其他因素的結果。例如，該公司的派息率較低，或者可能屬於高增長行業。
We then compared Hongli Zhihui GroupLtd's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 28% in the same 5-year period.
然後，我們將宏力智彙集團有限公司的淨收入增長與該行業進行了比較，我們很高興地看到，與同期5年同期增長率爲28％的行業相比，該公司的增長數字更高。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. Is Hongli Zhihui GroupLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
爲公司附加價值的基礎在很大程度上與其收益增長息息相關。投資者接下來需要確定的是，預期的收益增長或缺乏收益是否已經包含在股價中。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。與其他公司相比，宏力智彙集團有限公司的估值是否合理？這3種估值指標可能會幫助您做出決定。
Is Hongli Zhihui GroupLtd Using Its Retained Earnings Effectively?
宏利智彙集團有限公司是否在有效使用其留存收益？
Hongli Zhihui GroupLtd doesn't pay any dividend currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
宏立智彙集團有限公司目前不支付任何股息，這實質上意味着它一直在將所有利潤再投資於該業務。這無疑促成了我們上面討論的高收益增長數字。
Conclusion
結論
In total, we are pretty happy with Hongli Zhihui GroupLtd's performance. In particular, it's great to see that the company has seen significant growth in its earnings backed by a respectable ROE and a high reinvestment rate.
總的來說，我們對宏立智彙集團有限公司的表現非常滿意。特別是，很高興看到該公司的收益顯著增長，這得益於可觀的投資回報率和較高的再投資率。
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Simply Wall St 的這篇文章本質上是籠統的。我們僅使用公正的方法提供基於歷史數據和分析師預測的評論，我們的文章並非旨在提供財務建議。它不構成買入或賣出任何股票的建議，也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意，我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。