Is Weakness In Kunshan Kinglai Hygienic Materials Co.,Ltd. (SZSE:300260) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Is Weakness In Kunshan Kinglai Hygienic Materials Co.,Ltd. (SZSE:300260) Stock A Sign That The Market Could Be Wrong Given Its Strong Financial Prospects?
Kunshan Kinglai Hygienic MaterialsLtd (SZSE:300260) has had a rough month with its share price down 13%. But if you pay close attention, you might gather that its strong financials could mean that the stock could potentially see an increase in value in the long-term, given how markets usually reward companies with good financial health. In this article, we decided to focus on Kunshan Kinglai Hygienic MaterialsLtd's ROE.
昆山市金莱卫材股份有限公司（SZSE:300260）股价下跌13％，最近一个月表现不佳。然而，如果你仔细观察一下，你可能会发现它强大的财务状况可能意味着股票的长期价值有可能增加，因为市场通常会奖励拥有良好财务状况的公司。在这篇文章中，我们决定重点关注昆山市金莱卫材股份有限公司的roe。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股东权益回报率（ROE）是检验公司增加其价值和管理投资者资金有效性的测试。简而言之，ROE显示每个美元的利润与其股东的投资有关。
How To Calculate Return On Equity?
如何计算股东权益报酬率？
The formula for return on equity is:
权益回报率的计算公式是：
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 Kunshan Kinglai Hygienic MaterialsLtd is:
因此，根据上述公式，昆山市金莱卫材股份有限公司的roe为：
14% = CN¥250m ÷ CN¥1.8b (Based on the trailing twelve months to March 2024).
14％=CN¥ 25000万÷CN¥ 18亿（截至2024年3月）
The 'return' refers to a company's earnings over the last year. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.14 in profit.
“回报”是指公司过去一年的收益。换句话说，对于每一元人民币的股本，公司能够获得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。
So far, we've learned that ROE is a measure of a company's profitability. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. 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.
到目前为止，我们已经了解到ROE是衡量公司盈利能力的一个指标。现在我们需要评估公司再投资或“保留”未来增长所需的利润，然后我们可以大致了解公司的增长潜力。一般来说，在其他条件相等的情况下，具有高ROE和利润保留的公司比没有这些属性的公司具有更高的增长率。
Kunshan Kinglai Hygienic MaterialsLtd's Earnings Growth And 14% ROE
昆山市金莱卫材股份有限公司的盈利增长和14％的roe
To start with, Kunshan Kinglai Hygienic MaterialsLtd's ROE looks acceptable. On comparing with the average industry ROE of 6.9% the company's ROE looks pretty remarkable. This probably laid the ground for Kunshan Kinglai Hygienic MaterialsLtd's significant 36% net income growth seen over the past five years. However, there could also be other causes behind this growth. Such as - high earnings retention or an efficient management in place.
首先，昆山市金莱卫材股份有限公司的roe看起来是可以接受的。与行业平均roe 6.9％相比，公司的roe看起来非常卓越。这可能为昆山市金莱卫材股份有限公司过去五年实现的36％净利润增长奠定了基础。然而，这种增长背后可能还有其他原因，比如高盈利保留率或高效管理。
We then compared Kunshan Kinglai Hygienic MaterialsLtd's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 9.5% in the same 5-year period.
然后，我们将昆山市金莱卫材股份有限公司的净收入增长与行业进行了比较，我们很高兴看到，与同一5年期内增长率为9.5％的行业相比，公司的增长率更高。
Earnings growth is a huge factor in stock valuation. 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 Kunshan Kinglai Hygienic MaterialsLtd is trading on a high P/E or a low P/E, relative to its industry.
盈利增长是股票估值的一个重要因素。投资者需要确定预期的收益增长，或其缺乏，是否已经反映在股价中。这样做将有助于他们确定股票的未来前景是乐观还是不乐观。预期盈利增长的一个好指标是市盈率，它根据股票的盈利前景决定市场愿意支付的价格。因此，你可以查看昆山市金莱卫材股份有限公司相对于其行业的市盈率是否偏高或偏低。
Is Kunshan Kinglai Hygienic MaterialsLtd Making Efficient Use Of Its Profits?
昆山市金莱卫材股份有限公司是否有效利用其利润？
Kunshan Kinglai Hygienic MaterialsLtd's ' three-year median payout ratio is on the lower side at 9.9% implying that it is retaining a higher percentage (90%) of its profits. So it looks like Kunshan Kinglai Hygienic MaterialsLtd is reinvesting profits heavily to grow its business, which shows in its earnings growth.
昆山市金莱卫材股份有限公司的三年中位数股息支付比率偏低，为9.9％，意味着它保留了更高百分比（90％）的利润。因此，看起来昆山市金莱卫材股份有限公司正在大量再投资盈利以增长业务，这表现在其盈利增长中。
Moreover, Kunshan Kinglai Hygienic MaterialsLtd is determined to keep sharing its profits with shareholders which we infer from its long history of paying a dividend for at least ten years.
此外，昆山市金莱卫材股份有限公司决定继续与股东分享其利润，这可以从其至少支付股息的十年历史中推断出来。
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。
In total, we are pretty happy with Kunshan Kinglai Hygienic MaterialsLtd'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. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
总之，我们对昆山市金莱卫材股份有限公司的表现非常满意。特别是，我们喜欢该公司高回报率下大量再投资利润的方式。当然，这导致公司的盈利增长相当惊人。经过分析当前的分析师预测，我们发现分析师们预计该公司会继续保持近期的增长势头。要了解更多关于该公司最新分析师预测的信息，请查看此可视化分析师预测。
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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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这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论，只使用公正的方法论，我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议，也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意，我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈？对内容感到担忧？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。