Is CIMC Vehicles (Group) Co., Ltd.'s (SZSE:301039) Recent Performance Tethered To Its Attractive Financial Prospects?
Is CIMC Vehicles (Group) Co., Ltd.'s (SZSE:301039) Recent Performance Tethered To Its Attractive Financial Prospects?
CIMC Vehicles (Group)'s (SZSE:301039) stock is up by 2.7% over the past week. Given its impressive performance, we decided to study the company's key financial indicators as a company's long-term fundamentals usually dictate market outcomes. In this article, we decided to focus on CIMC Vehicles (Group)'s ROE.
在过去的一周中，中集车辆（集团）（SZSE：301039）的股票上涨了2.7%。鉴于其令人印象深刻的表现，我们决定研究该公司的关键财务指标，因为公司的长期基础通常决定市场结果。在本文中，我们决定重点关注中集车辆（集团）的roe。
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.
对于股东来说，股东回报率（ROE）是一个重要的考虑因素，因为它告诉股东他们的资本被有效地再投资了多少。换句话说，它是一个衡量公司股东提供的资本回报率的盈利能力比率。
How Do You Calculate Return On Equity?
怎样计算ROE?
Return on equity can be calculated by using the formula:
股东权益报酬率可以使用以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
净资产收益率 = 净利润（从持续经营中获得）÷ 股东权益
So, based on the above formula, the ROE for CIMC Vehicles (Group) is:
所以，根据上述公式，中集车辆（集团）的roe为：
14% = CN¥2.2b ÷ CN¥16b (Based on the trailing twelve months to March 2024).
14％=CN¥2.2b ÷ CN¥16b（基于截至2024年3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¥0.14 in profit.
“回报”是过去十二个月的利润。这意味着对于每一元人民币的股东权益，该公司产生了0.14元人民币的利润。
What Is The Relationship Between ROE And Earnings Growth?
既然我们已经确定ROE是一种有效的利润生成标准，用于评估公司未来的盈利能力，我们现在需要评估公司“保留”为未来增长而重新投资的利润多少，这使我们对公司的增长潜力有了一个了解。一般而言，在其他条件相等的情况下，ROE和利润留存高的公司，增长率比没有这些属性的公司要高。
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
我们已经确定，roe是一个有效的利润生成衡量标准，用于评估公司未来的盈利能力。根据公司再投资或“保留”这些利润的比例以及这样做的有效性，我们能够评估公司的盈利增长潜力。假设其他所有因素保持不变，roe和利润保留的比例越高，相对于没有这些特征的公司，公司的增长率就越高。
A Side By Side comparison of CIMC Vehicles (Group)'s Earnings Growth And 14% ROE
中集车辆（集团）的盈利增长和14％的roe的并列比较
To start with, CIMC Vehicles (Group)'s ROE looks acceptable. On comparing with the average industry ROE of 6.8% the company's ROE looks pretty remarkable. This probably laid the ground for CIMC Vehicles (Group)'s moderate 16% net income growth seen over the past five years.
首先，中集车辆（集团）的roe看起来是可以接受的。与行业平均roe的6.8％相比，公司的roe看起来相当出色。这可能为中集车辆（集团）过去五年中适度的16％净利润增长奠定了基础。
As a next step, we compared CIMC Vehicles (Group)'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 9.4%.
作为下一步，我们将中集车辆（集团）的净利润增长与行业进行了比较，令人高兴的是，我们发现该公司的增长比行业平均增长率9.4％高。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is CIMC Vehicles (Group) fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是股票估值的一个重要因素。投资者了解市场是否已经定价了公司预期的盈利增长（或下降）很重要。这将帮助他们确定股票的未来前景是光明的还是不乐观的。中集车辆（集团）是否与其他公司相比定价合理？这三个估值方法可能会帮助您做出决策。
Is CIMC Vehicles (Group) Using Its Retained Earnings Effectively?
中集车辆（集团）是否有效地利用其留存收益？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a regular dividend. We infer that the company has been reinvesting all of its profits to grow its business.
虽然该公司过去支付了一部分股息，但目前不支付常规股息。我们推断该公司已经用全部利润来维持业务增长。
Summary
总的来说，我们对伟明环保的表现非常满意。具体而言，我们喜欢公司以高回报率再投资了其利润的很大一部分。当然，这导致公司的收益大幅增长。但是，最新的行业分析师预测表明，该公司的收益预计将加速增长。
On the whole, we feel that CIMC Vehicles (Group)'s performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. Having said that, on studying current analyst estimates, we were concerned to see that while the company has grown its earnings in the past, analysts expect its earnings to shrink in the future. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总的来说，我们觉得中集车辆（集团）的表现相当不错。具体来说，我们喜欢该公司以高回报率再投资其巨额利润所带来的收益显着增长。话虽如此，在研究目前的分析师预测时，我们担心尽管该公司过去增长了其盈利，但分析师预计其盈利将在未来收缩。要了解有关公司最新分析师预测的更多信息，请查看此可视化的分析师预测。
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