Jiangnan Yifan Motor Co.,Ltd's (SZSE:301023) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Jiangnan Yifan Motor Co.,Ltd's (SZSE:301023) Stock Is Soaring But Financials Seem Inconsistent: Will The Uptrend Continue?
Most readers would already be aware that Jiangnan Yifan MotorLtd's (SZSE:301023) stock increased significantly by 60% over the past month. However, we wonder if the company's inconsistent financials would have any adverse impact on the current share price momentum. Specifically, we decided to study Jiangnan Yifan MotorLtd's ROE in this article.
大多数读者已经意识到,江南亿帆汽车有限公司(深圳证券交易所代码:301023)的股票在过去一个月中大幅上涨了60%。但是,我们想知道该公司财务状况不稳定是否会对当前的股价势头产生任何不利影响。具体而言,我们决定在本文中研究江南亿帆汽车有限公司的投资回报率。
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.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。简而言之,它衡量公司相对于股东权益的盈利能力。
How To Calculate Return On Equity?
如何计算股本回报率?
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算:
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 Jiangnan Yifan MotorLtd is:
因此,根据上述公式,江南一帆汽车有限公司的投资回报率为:
6.5% = CN¥52m ÷ CN¥801m (Based on the trailing twelve months to September 2023).
6.5% = 5200万元人民币 ÷ 8.01亿元人民币(基于截至2023年9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¥0.07 in profit.
“回报” 是过去十二个月的利润。这意味着,每持有价值1元人民币的股权,公司就会产生0.07元人民币的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要?
So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
到目前为止,我们已经了解到,投资回报率是衡量公司盈利能力的指标。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。
A Side By Side comparison of Jiangnan Yifan MotorLtd's Earnings Growth And 6.5% ROE
江南一帆汽车有限公司的收益增长和6.5%的投资回报率的并排比较
On the face of it, Jiangnan Yifan MotorLtd's ROE is not much to talk about. However, given that the company's ROE is similar to the average industry ROE of 7.1%, we may spare it some thought. On the other hand, Jiangnan Yifan MotorLtd reported a fairly low 3.4% net income growth over the past five years. Remember, the company's ROE is not particularly great to begin with. Hence, this does provide some context to low earnings growth seen by the company.
从表面上看,江南一帆汽车有限公司的投资回报率没什么好谈的。但是,鉴于该公司的投资回报率与7.1%的平均行业投资回报率相似,我们可以不加思索。另一方面,江南亿帆汽车有限公司报告称,在过去五年中,净收入增长3.4%,相当低。请记住,公司的投资回报率一开始并不是特别好。因此,这确实为公司所看到的低收益增长提供了一些背景信息。
We then compared Jiangnan Yifan MotorLtd's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 14% in the same 5-year period, which is a bit concerning.
然后,我们将江南一帆汽车有限公司的净收入增长与该行业进行了比较,发现该公司的增长数字低于同期14%的行业平均增长率,这有点令人担忧。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240308/0-b4b6fd5bca64135007cc3eb9385a9872-0-9b519b064b204058d6023d59367c646d.png/big)
Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Jiangnan Yifan MotorLtd is trading on a high P/E or a low P/E, relative to its industry.
收益增长是股票估值的重要因素。无论如何,投资者应设法确定预期的收益增长或下降是否已计入其中。通过这样做,他们将知道股票是走向清澈的蓝色海水还是沼泽水域在等着呢。衡量预期收益增长的一个很好的指标是市盈率,它根据收益前景决定了市场愿意为股票支付的价格。因此,您可能需要检查江南亿帆汽车有限公司相对于其行业是高市盈率还是低市盈率。
Is Jiangnan Yifan MotorLtd Using Its Retained Earnings Effectively?
江南一帆汽车有限公司是否在有效使用其留存收益?
Despite having a normal three-year median payout ratio of 39% (or a retention ratio of 61% over the past three years, Jiangnan Yifan MotorLtd has seen very little growth in earnings as we saw above. Therefore, there might be some other reasons to explain the lack in that respect. For example, the business could be in decline.
尽管江南亿帆汽车有限公司的三年派息率中位数正常为39%(或过去三年的留存率为61%),但正如我们在上面看到的那样,收益几乎没有增长。因此,可能还有其他一些原因可以解释这方面的不足。例如,业务可能会下滑。
In addition, Jiangnan Yifan MotorLtd has been paying dividends over a period of three years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth.
此外,江南一帆汽车有限公司在三年内一直在派发股息,这表明即使以业务增长为代价,维持股息支付对管理层来说也更为重要。
Conclusion
结论
Overall, we have mixed feelings about Jiangnan Yifan MotorLtd. 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. You can see the 3 risks we have identified for Jiangnan Yifan MotorLtd by visiting our risks dashboard for free on our platform here.
总的来说,我们对江南亿帆汽车有限公司有喜忧参半的感觉。尽管鉴于投资回报率低,它似乎保留了大部分利润,但投资者毕竟可能无法从所有这些再投资中受益。低收入增长表明我们的理论是正确的。总而言之,我们将谨慎对待这家公司,其中一种方法是研究该业务的风险状况。您可以访问我们的 3 种风险来查看我们为江南亿帆汽车有限公司确定的三种风险 风险仪表板 在我们的平台上免费使用。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。