Strong Week for Liqun Commercial GroupLtd (SHSE:601366) Shareholders Doesn't Alleviate Pain of Five-year Loss
Strong Week for Liqun Commercial GroupLtd (SHSE:601366) Shareholders Doesn't Alleviate Pain of Five-year Loss
Liqun Commercial Group Co.,Ltd. (SHSE:601366) shareholders will doubtless be very grateful to see the share price up 41% in the last month. But if you look at the last five years the returns have not been good. After all, the share price is down 30% in that time, significantly under-performing the market.
利群商業集團有限公司, Ltd.(上海證券交易所代碼:601366)股東們無疑會非常感激看到上個月股價上漲了41%。但是,如果你看看過去的五年,回報並不理想。畢竟,當時股價下跌了30%,表現大大低於市場。
Although the past week has been more reassuring for shareholders, they're still in the red over the last five years, so let's see if the underlying business has been responsible for the decline.
儘管過去一週令股東更加放心,但在過去五年中,他們仍處於虧損狀態,所以讓我們看看基礎業務是否是造成下降的原因。
Given that Liqun Commercial GroupLtd didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth.
鑑於利群商業集團有限公司在過去十二個月中沒有盈利,我們將專注於收入增長,以快速了解其業務發展。一般而言,沒有利潤的公司預計每年收入將增長,而且速度很快。一些公司願意推遲盈利以更快地增加收入,但在這種情況下,人們確實預計收入會有良好的增長。
Over half a decade Liqun Commercial GroupLtd reduced its trailing twelve month revenue by 11% for each year. That puts it in an unattractive cohort, to put it mildly. On the face of it we'd posit the share price fall of 5% compound, over five years is well justified by the fundamental deterioration. We doubt many shareholders are delighted with this share price performance. It is possible for businesses to bounce back but as Buffett says, 'turnarounds seldom turn'.
在過去的五年中,利群商業集團有限公司過去十二個月的收入每年減少11%。客氣地說,這使它成爲一個沒有吸引力的群體。從表面上看,我們認爲股價在五年內複合下跌了5%,這完全是基本面惡化所證明的。我們懷疑許多股東對這種股價表現感到滿意。企業有可能反彈,但正如巴菲特所說,“轉機很少會轉機”。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
公司的收入和收益(隨着時間的推移)如下圖所示(點擊查看確切數字)。
This free interactive report on Liqun Commercial GroupLtd's balance sheet strength is a great place to start, if you want to investigate the stock further.
如果你想進一步調查該股,這份關於利群商業集團有限公司資產負債表實力的免費互動報告是一個很好的起點。
What About Dividends?
分紅呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Liqun Commercial GroupLtd, it has a TSR of -23% for the last 5 years. That exceeds its share price return that we previously mentioned. This is largely a result of its dividend payments!
在考慮投資回報時,重要的是要考慮兩者之間的區別 股東總回報 (TSR) 和 股價回報。基於股息再投資的假設,股東總回報率納入了任何分拆或貼現資本籌集的價值以及任何股息。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。就利群商業集團有限公司而言,其在過去5年的股東回報率爲-23%。這超過了我們之前提到的其股價回報率。這在很大程度上是其股息支付的結果!
A Different Perspective
不同的視角
While it's certainly disappointing to see that Liqun Commercial GroupLtd shares lost 12% throughout the year, that wasn't as bad as the market loss of 15%. Given the total loss of 4% per year over five years, it seems returns have deteriorated in the last twelve months. While some investors do well specializing in buying companies that are struggling (but nonetheless undervalued), don't forget that Buffett said that 'turnarounds seldom turn'. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that Liqun Commercial GroupLtd is showing 3 warning signs in our investment analysis , and 2 of those don't sit too well with us...
儘管看到利群商業集團有限公司的股價全年下跌12%肯定令人失望,但這還不如15%的市場跌幅那麼糟糕。鑑於五年來每年的總損失爲4%,在過去的十二個月中,回報率似乎有所下降。儘管一些投資者在專門收購陷入困境(但仍被低估)的公司方面表現良好,但不要忘記巴菲特說過 “轉機很少會轉機”。我發現將長期股價視爲業務績效的代表非常有趣。但是,要真正獲得見解,我們還需要考慮其他信息。即便如此,請注意,利群商業集團有限公司在我們的投資分析中顯示了3個警告信號,其中2個對我們來說並不太合適...
Of course Liqun Commercial GroupLtd may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
當然,利群商業集團有限公司可能不是最值得購買的股票。因此,您可能希望看到這批免費的成長股。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
請注意,本文引用的市場回報反映了目前在中國交易所交易的股票的市場加權平均回報。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
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。