Is Guangdong Weide Information Technology CO,.Ltd.'s (SHSE:688171) Recent Price Movement Underpinned By Its Weak Fundamentals?
Is Guangdong Weide Information Technology CO,.Ltd.'s (SHSE:688171) Recent Price Movement Underpinned By Its Weak Fundamentals?
With its stock down 39% over the past three months, it is easy to disregard Guangdong Weide Information Technology CO.Ltd (SHSE:688171). It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. In this article, we decided to focus on Guangdong Weide Information Technology CO.Ltd's ROE.
在過去三個月中，廣東威德信息技術股份有限公司（上海證券交易所股票代碼：688171）的股票下跌了39％，這很容易被忽視。看來市場可能完全忽視了公司基本面的積極方面，並決定更多地考慮負面方面。長期基本面通常是推動市場結果的因素，因此值得密切關注。在這篇文章中，我們決定重點關注廣東威德信息科技有限公司的投資回報率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
股本回報率或投資回報率是用於評估公司管理層利用公司資本效率的關鍵指標。換句話說，它是衡量公司股東提供的資本回報率的盈利比率。
How Do You Calculate Return On Equity?
你如何計算股本回報率？
Return on equity can be calculated by using the formula:
股本回報率可以使用以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Guangdong Weide Information Technology CO.Ltd is:
因此，根據上述公式，廣東威德信息科技有限公司的投資回報率爲：
3.5% = CN¥29m ÷ CN¥833m (Based on the trailing twelve months to September 2023).
3.5% = 2900萬元人民幣 ÷ 8.33億元人民幣（基於截至2023年9月的過去十二個月）。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.03.
“回報” 是過去十二個月的稅後收入。因此，這意味着其股東每投資1元人民幣，公司就會產生0.03元人民幣的利潤。
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？
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.
到目前爲止，我們已經了解到，投資回報率衡量的是公司創造利潤的效率。現在，我們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，從而使我們對公司的增長潛力有所了解。假設其他一切保持不變，那麼與不一定具有這些特徵的公司相比，投資回報率和利潤保留率越高，公司的增長率就越高。
Guangdong Weide Information Technology CO.Ltd's Earnings Growth And 3.5% ROE
廣東威德信息科技有限公司的收益增長和3.5％的投資回報率
It is hard to argue that Guangdong Weide Information Technology CO.Ltd's ROE is much good in and of itself. Even when compared to the industry average of 6.7%, the ROE figure is pretty disappointing. Therefore, it might not be wrong to say that the five year net income decline of 7.3% seen by Guangdong Weide Information Technology CO.Ltd was possibly a result of it having a lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很難說廣東威德信息科技有限公司的投資回報率本身就非常好。即使與6.7％的行業平均水平相比，投資回報率的數字也相當令人失望。因此，說廣東威德信息科技有限公司五年淨收入下降7.3％可能是其投資回報率下降的結果，這可能沒有錯。我們認爲，可能還有其他方面對公司的盈利前景產生負面影響。例如，該企業的資本分配不佳，或者該公司的派息率非常高。
So, as a next step, we compared Guangdong Weide Information Technology CO.Ltd's performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 13% over the last few years.
因此，下一步，我們將廣東威德信息技術有限公司的業績與行業進行了比較，失望地發現，儘管該公司一直在縮減收益，但該行業在過去幾年中一直以13％的速度增長收益。
Earnings growth is a huge factor in stock valuation. 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 Guangdong Weide Information Technology CO.Ltd fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是股票估值的重要因素。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，廣東威德信息科技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 Guangdong Weide Information Technology CO.Ltd Making Efficient Use Of Its Profits?
廣東威德信息科技有限公司是否在有效利用其利潤？
In spite of a normal three-year median payout ratio of 33% (that is, a retention ratio of 67%), the fact that Guangdong Weide Information Technology CO.Ltd's earnings have shrunk is quite puzzling. So there might be other factors at play here which could potentially be hampering growth. For example, the business has faced some headwinds.
儘管正常的三年派息率中位數爲33％（即留存率爲67％），但廣東威德信息科技有限公司的收益萎縮這一事實令人費解。因此，這裏可能還有其他因素在起作用，這些因素可能會阻礙增長。例如，該業務面臨一些阻力。
Additionally, Guangdong Weide Information Technology CO.Ltd started paying a dividend only recently. So it looks like the management may have perceived that shareholders favor dividends even though earnings have been in decline.
此外，廣東威德信息科技有限公司直到最近才開始派發股息。因此，看來管理層可能已經認爲，儘管收益有所下降，但股東還是偏愛分紅。
Summary
摘要
Overall, we have mixed feelings about Guangdong Weide Information Technology CO.Ltd. Even though it appears to be retaining most of its profits, given the low ROE, investors may not be benefitting from all that reinvestment after all. The low earnings growth suggests our theory correct. Wrapping up, we would proceed with caution with this company and one way of doing that would be to look at the risk profile of the business. To know the 3 risks we have identified for Guangdong Weide Information Technology CO.Ltd visit our risks dashboard for free.
總體而言，我們對廣東威德信息科技有限公司的看法喜憂參半。儘管該公司似乎保留了大部分利潤，但鑑於投資回報率低，投資者畢竟可能無法從所有這些再投資中受益。低收入增長表明我們的理論是正確的。總而言之，我們將謹慎對待這家公司，其中一種方法是研究該業務的風險狀況。要了解我們爲廣東威德信息科技有限公司確定的三種風險，請免費訪問我們的風險儀表板。
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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根據歷史數據和分析師的預測提供評論，我們的文章無意作爲財務建議。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，我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之，華爾街沒有持有任何上述股票的頭寸。