Qian Jiang Water Resources DevelopmentLtd (SHSE:600283) Strong Profits May Be Masking Some Underlying Issues
Qian Jiang Water Resources DevelopmentLtd (SHSE:600283) Strong Profits May Be Masking Some Underlying Issues
The recent earnings posted by Qian Jiang Water Resources Development Co.,Ltd (SHSE:600283) were solid, but the stock didn't move as much as we expected. We think this is due to investors looking beyond the statutory profits and being concerned with what they see.
Qian Jiang 水資源開發有限公司最近公佈的業績, Ltd(上海證券交易所股票代碼:600283)表現穩定,但該股的波動幅度沒有我們預期的那麼大。我們認爲這是由於投資者將目光投向了法定利潤之外並關注他們所看到的情況。
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The Impact Of Unusual Items On Profit
不尋常物品對利潤的影響
To properly understand Qian Jiang Water Resources DevelopmentLtd's profit results, we need to consider the CN¥73m gain attributed to unusual items. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Qian Jiang Water Resources DevelopmentLtd's positive unusual items were quite significant relative to its profit in the year to December 2023. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
爲了正確理解錢江水資源開發有限公司的利潤業績,我們需要考慮來自不尋常項目的7300萬元人民幣的收益。雖然我們希望看到利潤增加,但當不尋常的物品做出重大貢獻時,我們往往會更加謹慎一些。我們統計了全球大多數上市公司的數字,不尋常的物品在自然界中很常見。這正如你所預料的那樣,因爲這些增強被描述爲 “不尋常”。我們可以看到,相對於截至2023年12月的一年中,錢江水資源開發有限公司的正面異常項目相對於其利潤相當可觀。因此,我們可以推測,這些不尋常的物品使其法定利潤明顯高於原來的水平。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Qian Jiang Water Resources DevelopmentLtd.
注意:我們始終建議投資者檢查資產負債表的實力。點擊此處查看我們對錢江水資源開發有限公司的資產負債表分析
Our Take On Qian Jiang Water Resources DevelopmentLtd's Profit Performance
我們對錢江水資源開發有限公司盈利表現的看法
As we discussed above, we think the significant positive unusual item makes Qian Jiang Water Resources DevelopmentLtd's earnings a poor guide to its underlying profitability. For this reason, we think that Qian Jiang Water Resources DevelopmentLtd's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. But at least holders can take some solace from the 49% per annum growth in EPS for the last three. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. If you want to do dive deeper into Qian Jiang Water Resources DevelopmentLtd, you'd also look into what risks it is currently facing. When we did our research, we found 3 warning signs for Qian Jiang Water Resources DevelopmentLtd (1 is a bit concerning!) that we believe deserve your full attention.
正如我們上面討論的那樣,我們認爲這一重大利好不尋常的項目使Qian Jiang Water Resources DevelopmentLtd的收益無法衡量其潛在盈利能力。出於這個原因,我們認爲Qian Jiang Water Resources DevelopmentLtd的法定利潤可能不利於其潛在盈利能力,並可能使投資者對公司產生過於積極的印象。但是,至少持有人可以從過去三年的每股收益每年增長49%中得到一些安慰。當然,我們只是在分析其收益時才浮出水面;人們還可以考慮利潤率、預測增長和投資回報率等因素。如果你想更深入地了解錢江水資源開發有限公司,你還需要研究它目前面臨的風險。當我們進行研究時,我們發現了 Qian Jiang Water Resources DevelopmentLtd 的 3 個警告信號(1 個有點令人擔憂!)我們認爲值得你全神貫注。
This note has only looked at a single factor that sheds light on the nature of Qian Jiang Water Resources DevelopmentLtd's profit. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying to be useful.
這份報告只考慮了揭示錢江水資源開發有限公司利潤性質的單一因素。但是,還有很多其他方法可以讓你對公司的看法。例如,許多人認爲高股本回報率是有利的商業經濟的標誌,而另一些人則喜歡 “關注資金”,尋找內部人士正在買入的股票。雖然可能需要你進行一些研究,但你可能會發現這份免費收集的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單很有用。
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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。