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Shenzhen Fenda Technology Co., Ltd.'s (SZSE:002681) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?

Shenzhen Fenda Technology Co., Ltd.'s (SZSE:002681) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?

深圳芬達科技有限公司's(SZSE:002681)股票最近表現疲軟,但財務前景看起來不錯:市場錯了嗎?
Simply Wall St ·  04/19 00:07

With its stock down 14% over the past month, it is easy to disregard Shenzhen Fenda Technology (SZSE:002681). 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 Shenzhen Fenda Technology's ROE.

深圳奮達科技(SZSE:002681)的股票在過去一個月中下跌了14%,因此很容易被忽視。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。在本文中,我們決定重點關注深圳奮達科技的投資回報率。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

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,它是衡量公司股東提供的資本回報率的盈利比率。

How Is ROE Calculated?

ROE 是如何計算的?

The formula for ROE is:

ROE 的公式是:

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 Shenzhen Fenda Technology is:

因此,根據上述公式,深圳奮達科技的投資回報率爲:

8.0% = CN¥189m ÷ CN¥2.4b (Based on the trailing twelve months to September 2023).

8.0% = 1.89億元人民幣 ÷ 24億元人民幣(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. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.08.

“回報” 是過去十二個月的稅後收入。因此,這意味着公司每投資1元人民幣,公司就會產生0.08元人民幣的利潤。

Why Is ROE Important For Earnings Growth?

爲什麼投資回報率對收益增長很重要?

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.

到目前爲止,我們已經了解到,投資回報率是衡量公司盈利能力的指標。根據公司選擇將多少利潤進行再投資或 “保留”,我們便能夠評估公司未來創造利潤的能力。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。

Shenzhen Fenda Technology's Earnings Growth And 8.0% ROE

深圳奮達科技的收益增長和8.0%的投資回報率

At first glance, Shenzhen Fenda Technology's ROE doesn't look very promising. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 11% either. In spite of this, Shenzhen Fenda Technology was able to grow its net income considerably, at a rate of 40% in the last five years. So, there might be other aspects that are positively influencing the company's earnings growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

乍一看,深圳奮達科技的投資回報率看起來並不十分樂觀。一項快速的進一步研究表明,該公司的投資回報率與行業平均水平的11%相比也並不理想。儘管如此,深圳奮達科技仍得以大幅增長其淨收入,在過去五年中增長了40%。因此,可能還有其他方面對公司的收益增長產生積極影響。例如,公司的管理層可能做出了一些良好的戰略決策,或者公司的派息率很低。

As a next step, we compared Shenzhen Fenda Technology's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 8.3%.

下一步,我們將深圳奮達科技的淨收入增長與行業進行了比較,令人高興的是,我們發現該公司的增長高於行業平均增長8.3%。

past-earnings-growth
SZSE:002681 Past Earnings Growth April 19th 2024
SZSE: 002681 過去的收益增長 2024 年 4 月 19 日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. 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 Shenzhen Fenda Technology is trading on a high P/E or a low P/E, relative to its industry.

爲公司附加價值的基礎在很大程度上與其收益增長息息相關。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。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。衡量預期收益增長的一個很好的指標是市盈率,它根據收益前景決定了市場願意爲股票支付的價格。因此,您可能需要檢查深圳奮達科技相對於其行業是高市盈率還是低市盈率。

Is Shenzhen Fenda Technology Making Efficient Use Of Its Profits?

深圳奮達科技是否在有效利用其利潤?

Given that Shenzhen Fenda Technology doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

鑑於深圳奮達科技不向其股東支付任何定期股息,我們推斷該公司一直在將其所有利潤再投資以發展其業務。

Conclusion

結論

Overall, we feel that Shenzhen Fenda Technology certainly does have some positive factors to consider. 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.

總的來說,我們認爲深圳奮達科技確實有一些積極的因素需要考慮。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。

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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。

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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