Declining Stock and Solid Fundamentals: Is The Market Wrong About Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063)?
Declining Stock and Solid Fundamentals: Is The Market Wrong About Shenzhen Hopewind Electric Co., Ltd. (SHSE:603063)?
It is hard to get excited after looking at Shenzhen Hopewind Electric's (SHSE:603063) recent performance, when its stock has declined 36% over the past three months. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Specifically, we decided to study Shenzhen Hopewind Electric's ROE in this article.
看了深圳合望电气(SHSE: 603063)最近的表现,很难感到兴奋,当时的股票在过去三个月中下跌了36%。但是,仔细观察其良好的财务状况可能会让你重新考虑。鉴于基本面通常会推动长期市场业绩,该公司值得关注。具体而言,我们决定在本文中研究深圳合望电气的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。简而言之,它用于评估公司相对于其股权资本的盈利能力。
How Is ROE Calculated?
ROE 是如何计算的?
The formula for return on equity is:
股本回报率的公式是:
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润(来自持续经营业务)÷ 股东权益
So, based on the above formula, the ROE for Shenzhen Hopewind Electric is:
因此,根据上述公式,深圳合望电气的投资回报率为:
12% = CN¥489m ÷ CN¥4.1b (Based on the trailing twelve months to March 2024).
12% = 48900万元人民币 ÷ 41元人民币(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. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.12 in profit.
“回报” 是过去十二个月的利润。另一种看法是,每持有价值1元人民币的股权,公司就能获得0.12元人民币的利润。
What Is The Relationship Between ROE And Earnings Growth?
投资回报率与收益增长之间有什么关系?
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. 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.
到目前为止,我们已经了解到,投资回报率是衡量公司盈利能力的指标。根据公司选择将多少利润进行再投资或 “保留”,我们便能够评估公司未来创造利润的能力。假设其他一切保持不变,那么与不一定具有这些特征的公司相比,投资回报率和利润保留率越高,公司的增长率就越高。
Shenzhen Hopewind Electric's Earnings Growth And 12% ROE
深圳合望电气的收益增长和12%的投资回报率
At first glance, Shenzhen Hopewind Electric seems to have a decent ROE. Especially when compared to the industry average of 6.9% the company's ROE looks pretty impressive. Probably as a result of this, Shenzhen Hopewind Electric was able to see an impressive net income growth of 33% over the last five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看,深圳合望电气的投资回报率似乎不错。特别是与6.9%的行业平均水平相比,该公司的投资回报率看起来相当可观。可能正因为如此,深圳合望电气在过去五年中实现了令人印象深刻的33%的净收入增长。我们认为,可能还有其他方面对公司的收益增长产生积极影响。例如,该公司的派息率很低或管理得很高效。
As a next step, we compared Shenzhen Hopewind Electric'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 12%.
下一步,我们将深圳合望电气的净收入增长与该行业进行了比较,令人高兴的是,我们发现该公司的增长高于12%的行业平均增长。
![past-earnings-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240707/0-895fed30ae5f93b66ada6290cc8c5d8c-0-528c55b23885f7c7e58280dd6fd00bad.png/big)
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. Is 603063 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
为公司附加价值的基础在很大程度上与其收益增长息息相关。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。这样做将帮助他们确定股票的未来是乐观还是不祥的。603063 的估值是否合理?这张关于公司内在价值的信息图包含了你需要知道的一切。
Is Shenzhen Hopewind Electric Efficiently Re-investing Its Profits?
深圳厚望电气是否有效地将其利润再投资?
Shenzhen Hopewind Electric has a really low three-year median payout ratio of 11%, meaning that it has the remaining 89% left over to reinvest into its business. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.
深圳合望电气的三年中位数派息率非常低,为11%,这意味着其余的89%可以再投资于其业务。因此,管理层似乎正在将利润大量再投资以发展业务,这反映在其收益增长数字上。
Moreover, Shenzhen Hopewind Electric is determined to keep sharing its profits with shareholders which we infer from its long history of six years of paying a dividend.
此外,深圳厚望电气决心继续与股东分享利润,这是我们从其六年派息的长期历史中推断出来的。
Summary
摘要
In total, we are pretty happy with Shenzhen Hopewind Electric's performance. 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. That being so, a study of the latest analyst forecasts show that the company is expected to see a slowdown in its future earnings growth. 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,我们对深圳合望电气的表现非常满意。具体而言,我们喜欢该公司以高回报率再投资其利润的很大一部分。当然,这导致该公司的收益大幅增长。既然如此,对分析师最新预测的研究表明,预计该公司未来的收益增长将放缓。要详细了解分析师对公司的最新预测,请查看该公司的分析师预测的可视化。
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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的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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