Henan Ancai Hi-Tech Co.,Ltd's (SHSE:600207) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
Henan Ancai Hi-Tech Co.,Ltd's (SHSE:600207) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
With its stock down 32% over the past three months, it is easy to disregard Henan Ancai Hi-TechLtd (SHSE:600207). However, stock prices are usually driven by a company's financials over the long term, which in this case look pretty respectable. In this article, we decided to focus on Henan Ancai Hi-TechLtd's ROE.
河南安彩高科股份有限公司（上海證券交易所股票代碼：600207）的股票在過去三個月中下跌了32％，這很容易被忽視。但是，從長遠來看，股票價格通常由公司的財務狀況驅動，在這種情況下，這看起來相當可觀。在這篇文章中，我們決定重點關注河南安彩高科股份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. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回報率或投資回報率是對公司增值和管理投資者資金的有效性的考驗。換句話說，它揭示了公司成功地將股東投資轉化爲利潤。
How To Calculate Return On Equity?
如何計算股本回報率？
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算：
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 Henan Ancai Hi-TechLtd is:
因此，根據上述公式，河南安彩高科股份有限公司的投資回報率爲：
1.9% = CN¥64m ÷ CN¥3.3b (Based on the trailing twelve months to September 2023).
1.9% = 6400萬元人民幣 ÷ 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. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.02 in profit.
“回報” 是過去十二個月的稅後收入。將其概念化的一種方法是，公司每擁有1元人民幣的股東資本，就能獲得0.02元的利潤。
What Has ROE Got To Do With Earnings Growth?
投資回報率與收益增長有什麼關係？
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. 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。一般而言，在其他條件相同的情況下，股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
Henan Ancai Hi-TechLtd's Earnings Growth And 1.9% ROE
河南安彩高科技有限公司的收益增長和1.9％的投資回報率
As you can see, Henan Ancai Hi-TechLtd's ROE looks pretty weak. Even when compared to the industry average of 6.7%, the ROE figure is pretty disappointing. However, we we're pleasantly surprised to see that Henan Ancai Hi-TechLtd grew its net income at a significant rate of 49% in the last five years. Therefore, there could be other reasons behind this growth. For instance, the company has a low payout ratio or is being managed efficiently.
如你所見，河南安彩高科股份有限公司的投資回報率看起來相當疲軟。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。但是，我們驚喜地看到，河南安彩高科股份有限公司在過去五年中淨收入大幅增長了49％。因此，這種增長背後可能還有其他原因。例如，該公司的派息率較低或管理效率很高。
Next, on comparing with the industry net income growth, we found that Henan Ancai Hi-TechLtd's growth is quite high when compared to the industry average growth of 11% in the same period, which is great to see.
接下來，與行業淨收入增長相比，我們發現，與同期行業平均增長11％相比，河南安彩高科的增長相當高，這真是令人欣喜。
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. This then helps them determine if the stock is placed for a bright or bleak future. Is Henan Ancai Hi-TechLtd 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。然後，這可以幫助他們確定股票是面向光明還是暗淡的未來。與其他公司相比，河南安彩高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 Henan Ancai Hi-TechLtd Making Efficient Use Of Its Profits?
河南安彩高科技股份有限公司是否在有效利用其利潤？
Given that Henan Ancai Hi-TechLtd doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鑑於河南安彩高科不向其股東支付任何股息，我們推斷該公司一直在將其所有利潤再投資以發展業務。
Conclusion
結論
On the whole, we do feel that Henan Ancai Hi-TechLtd has some positive attributes. Even in spite of the low rate of return, the company has posted impressive earnings growth as a result of reinvesting heavily into its business. That being so, the latest analyst forecasts show that the company will continue to see an expansion in its earnings. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總的來說，我們確實認爲河南安彩高科技有限公司具有一些積極的屬性。儘管回報率很低，但由於對業務進行了大量再投資，該公司的收益增長令人印象深刻。既然如此，分析師的最新預測顯示，該公司的收益將繼續擴大。要詳細了解分析師對公司的最新預測，請查看該公司的分析師預測的可視化。
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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。