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Shareholders in China CITIC Financial Asset Management (HKG:2799) Have Lost 83%, as Stock Drops 6.5% This Past Week

Shareholders in China CITIC Financial Asset Management (HKG:2799) Have Lost 83%, as Stock Drops 6.5% This Past Week

上週股價下跌6.5%,中信金融資產管理(HKG: 2799)的股東下跌了83%
Simply Wall St ·  03/27 20:18

We're definitely into long term investing, but some companies are simply bad investments over any time frame. We really hate to see fellow investors lose their hard-earned money. Imagine if you held China CITIC Financial Asset Management Co., Ltd. (HKG:2799) for half a decade as the share price tanked 83%. And some of the more recent buyers are probably worried, too, with the stock falling 36% in the last year. The falls have accelerated recently, with the share price down 27% in the last three months. While a drop like that is definitely a body blow, money isn't as important as health and happiness.

我們肯定在進行長期投資,但有些公司在任何時間段內都只是不良投資。我們真的很討厭看到其他投資者損失辛苦賺來的錢。想象一下,如果你持有中信金融資產管理有限公司(HKG: 2799)五年,股價下跌了83%。一些最近的買家可能也感到擔憂,該股去年下跌了36%。最近跌勢加速,股價在過去三個月中下跌了27%。雖然這樣的下降絕對是沉重的打擊,但金錢並不像健康和幸福那麼重要。

If the past week is anything to go by, investor sentiment for China CITIC Financial Asset Management isn't positive, so let's see if there's a mismatch between fundamentals and the share price.

如果說過去一週有意義的話,投資者對中信金融資產管理的情緒並不樂觀,所以讓我們看看基本面與股價之間是否存在不匹配的情況。

China CITIC Financial Asset Management wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. When a company doesn't make profits, we'd generally hope to see good revenue growth. As you can imagine, fast revenue growth, when maintained, often leads to fast profit growth.

中信金融資產管理在過去十二個月中沒有盈利,我們不太可能看到其股價與每股收益(EPS)之間存在很強的相關性。可以說,收入是我們的下一個最佳選擇。當一家公司沒有盈利時,我們通常希望看到良好的收入增長。可以想象,收入的快速增長如果持續下去,通常會帶來利潤的快速增長。

In the last five years China CITIC Financial Asset Management saw its revenue shrink by 41% per year. That puts it in an unattractive cohort, to put it mildly. So it's not that strange that the share price dropped 13% per year in that period. We don't think this is a particularly promising picture. Ironically, that behavior could create an opportunity for the contrarian investor - but only if there are good reasons to predict a brighter future.

在過去五年中,中信金融資產管理的收入每年萎縮41%。客氣地說,這使它成爲一個沒有吸引力的群體。因此,在此期間,股價每年下跌13%也就不足爲奇了。我們並不認爲這是一幅特別有希望的畫面。具有諷刺意味的是,這種行爲可以爲逆勢投資者創造機會——但前提是有充分的理由預測更光明的未來。

The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).

下圖描述了收入和收入隨時間推移而發生的變化(點擊圖片即可顯示確切的數值)。

earnings-and-revenue-growth
SEHK:2799 Earnings and Revenue Growth March 28th 2024
SEHK: 2799 2024年3月28日收益和收入增長

Take a more thorough look at China CITIC Financial Asset Management's financial health with this free report on its balance sheet.

通過這份免費的資產負債表報告,更全面地了解中信金融資產管理的財務狀況。

A Different Perspective

不同的視角

We regret to report that China CITIC Financial Asset Management shareholders are down 36% for the year. Unfortunately, that's worse than the broader market decline of 8.5%. Having said that, it's inevitable that some stocks will be oversold in a falling market. The key is to keep your eyes on the fundamental developments. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 13% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. 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. For instance, we've identified 2 warning signs for China CITIC Financial Asset Management that you should be aware of.

我們遺憾地報告,中信金融資產管理的股東今年下跌了36%。不幸的是,這比整個市場8.5%的跌幅還要嚴重。話雖如此,在下跌的市場中,一些股票不可避免地會被超賣。關鍵是要密切關注基本發展。遺憾的是,去年的業績結束了糟糕的表現,股東在五年內每年面臨13%的總虧損。我們意識到羅斯柴爾德男爵曾說過,投資者應該 “在街頭流血時買入”,但我們警告說,投資者應首先確保他們購買的是高質量的企業。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。例如,我們已經確定了中信金融資產管理的兩個警告信號,您應該注意這些信號。

Of course China CITIC Financial Asset Management may not be the best stock to buy. So you may wish to see this free collection of growth stocks.

當然,中信金融資產管理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 Hong Kong exchanges.

請注意,本文引用的市場回報反映了目前在香港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.

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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。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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