Antong Holdings Co., Ltd. (SHSE:600179) On An Uptrend: Could Fundamentals Be Driving The Stock?
Antong Holdings Co., Ltd. (SHSE:600179) On An Uptrend: Could Fundamentals Be Driving The Stock?
Antong Holdings' (SHSE:600179) stock is up by 4.6% over the past week. As most would know, long-term fundamentals have a strong correlation with market price movements, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. In this article, we decided to focus on Antong Holdings' ROE.
安通控股（SHSE：600179）的股价在过去一周内上涨了4.6％。众所周知，长期的基本面与市场价格走势有很强的相关性，因此我们决定查看今天公司的主要财务指标，以确定它们是否在最近的价格变动中发挥任何作用。在本文中，我们决定着重关注安通控股的roe。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
股本回报率或ROE是一项用于评估公司管理层如何利用公司资本的效率的关键指标。简而言之，它用于评估公司相对于其股本资本的盈利能力。
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 Antong Holdings is:
因此，根据上述公式，安通控股的roe为：
5.3% = CN¥536m ÷ CN¥10b (Based on the trailing twelve months to March 2024).
5.3％= CN¥ 53600万 ÷ CN¥ 100亿（基于截至2024年3月的过去十二个月）
The 'return' is the yearly profit. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.05 in profit.
“回报率”是年度利润。可以这样理解，对于每一元人民币的净资产，公司能够获得0.05元人民币的利润。
Why Is ROE Important For Earnings Growth?
ROE为什么对净利润增长很重要？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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 all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前为止，我们已经了解到roe是衡量公司利润产生效率的指标。根据公司选择再投资或“保留”其利润的比例，我们随后可以评估公司未来利润的能力。其他条件都相同的情况下，roe和利润保留率都较高的公司通常比没有这些特征的公司有更高的增长速度。
Antong Holdings' Earnings Growth And 5.3% ROE
安通控股的净利润增长和5.3％roe
When you first look at it, Antong Holdings' ROE doesn't look that attractive. A quick further study shows that the company's ROE doesn't compare favorably to the industry average of 8.6% either. However, we we're pleasantly surprised to see that Antong Holdings grew its net income at a significant rate of 43% in the last five years. Therefore, there could be other reasons behind this 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.
当您首次查看时，安通控股的roe似乎并不那么具有吸引力。快速进一步研究表明，该公司的roe与行业平均水平8.6％相比也不占优势。然而，令人惊喜的是，我们发现安通控股在过去五年中的净利润以显着的43％的速度增长。因此，其中可能存在其他原因。例如，公司管理层可能已经做出了一些良好的战略决策，或者公司的派息比率较低。
As a next step, we compared Antong Holdings' 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 15%.
作为下一步，我们将安通控股的净利润增长与行业进行了比较，并令人高兴的是，我们发现该公司的增长速度高于行业平均增长率15％。
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. Is Antong Holdings fairly valued compared to other companies? These 3 valuation measures might help you decide.
盈利增长是股票估值的重要因素。投资者需要判断的是，预期的盈利增长或缺乏盈利增长是否已反映在股价中。这样做将有助于他们确定股票的未来看起来是有前途还是不妙。安通控股相对于其他公司的估值是否公正？这3个估值指标可能会帮助您做出决策。
Is Antong Holdings Making Efficient Use Of Its Profits?
安通控股是否有效利用其利润？
Antong Holdings doesn't pay any regular dividends to its shareholders, meaning that the company has been reinvesting all of its profits into the business. This is likely what's driving the high earnings growth number discussed above.
安通控股不向股东支付任何常规红利，这意味着该公司一直将所有利润重新投资到业务中。这很可能是上面讨论的高盈利增长数字的推动力。
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 do feel that Antong Holdings has some positive attributes. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. While we won't completely dismiss the company, what we would do, is try to ascertain how risky the business is to make a more informed decision around the company. Our risks dashboard would have the 2 risks we have identified for Antong Holdings.
总体而言，我们确实认为安通控股具有一些积极的特征。尽管roe不高，但公司以高比率再投资的同时，成功地实现了收益的大幅增长。虽然我们不会完全放弃该公司，但我们将努力确定业务风险，以做出更明智的决策。我们的风险仪表板将列出我们为安通控股确定的2个风险。
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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
对本文有任何反馈？对内容有任何疑虑？请直接与我们联系。或者，发送电子邮件至editorial-team@simplywallst.com。