Declining Stock and Decent Financials: Is The Market Wrong About Jiangsu Hoperun Software Co., Ltd. (SZSE:300339)?
Declining Stock and Decent Financials: Is The Market Wrong About Jiangsu Hoperun Software Co., Ltd. (SZSE:300339)?
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity Jiangsu Hoperun Software (SZSE:300339) has had a rough three months with its share price down 14%. 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 Jiangsu Hoperun Software's ROE.
潤和軟件（SZSE:300339）在過去的三個月中股價下跌了14%。然而，股價通常是由公司的財務狀況長期驅動的，在這種情況下，公司的財務狀況相當不錯。本文我們將重點關注潤和軟件的roe。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Put another way, it reveals the company's success at turning shareholder investments into profits.
ROE或股東權益報酬率是一種有用的工具，用於評估一家公司能否有效地利用來自股東的投資產生回報。換句話說，它揭示了公司將股東的投資變成利潤的成功程度。
How Is ROE Calculated?
淨資產收益率怎麼計算？
The formula for return on equity is:
權益回報率的計算公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
淨資產收益率 = 淨利潤（從持續經營中獲得）÷ 股東權益
So, based on the above formula, the ROE for Jiangsu Hoperun Software is:
因此，根據上述公式，潤和軟件的roe爲：
4.6% = CN¥157m ÷ CN¥3.4b (Based on the trailing twelve months to March 2024).
4.6% = CN¥15700萬 ÷ CN¥34億（基於截至2024年3月的過去十二個月）。
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¥0.05 in profit.
“回報”是指公司過去一年的收益。換句話說，每1元的淨資產，公司能夠獲利0.05元。
What Has ROE Got To Do With Earnings Growth?
roe與盈利增長有何關係？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
我們已經確定，roe可以作爲一種有效的衡量公司未來盈利能力的指標。現在我們需要評估公司再投資或“保留”的利潤有多少，這就給我們提供了有關公司增長潛力的想法。假設其他一切不變，roe和利潤保留率越高，公司的增長率就越高，而不一定具備這些特徵的公司相比。
A Side By Side comparison of Jiangsu Hoperun Software's Earnings Growth And 4.6% ROE
潤和軟件盈利成長和4.6%的roe並列對比。
It is hard to argue that Jiangsu Hoperun Software's ROE is much good in and of itself. Further, we noted that the company's ROE is similar to the industry average of 4.1%. However, the exceptional 40% net income growth seen by Jiangsu Hoperun Software over the past five years is pretty remarkable. Considering the low ROE, it is quite possible that there might also be some 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.
很難說潤和軟件的roe本身就是優秀的。此外，我們注意到公司的roe與行業平均4.1%相似。 但是，在過去五年中，潤和軟件出現了40%的淨利潤增長，這是非常值得稱讚的成就。考慮到低roe，公司盈利增長還可能有其他積極因素。例如，公司具有低的支付比率或高效管理。
When you consider the fact that the industry earnings have shrunk at a rate of 3.6% in the same 5-year period, the company's net income growth is pretty remarkable.
當您考慮到同期行業收益的負增長率爲3.6％時，公司的淨利潤增長就非常可觀了。
Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. What is 300339 worth today? The intrinsic value infographic in our free research report helps visualize whether 300339 is currently mispriced by the market.
盈利成長是考慮估值的重要指標。投資者需要了解市場是否已經反映了公司預期的盈利成長（或下降）。這有助於他們判斷股票未來是光明還是黯淡。300339現在價值多少？我們的免費研究報告中的內在價值信息圖可以幫助您可視化300339市場是否錯價。
Is Jiangsu Hoperun Software Efficiently Re-investing Its Profits?
潤和軟件是否有效地再投資其利潤？
Jiangsu Hoperun Software doesn't pay any regular dividends currently which essentially means that it has been reinvesting all of its profits into the business. This definitely contributes to the high earnings growth number that we discussed above.
潤和軟件目前沒有派發任何常規股息，這基本上意味着它一直在將所有利潤再投資到業務中。這確實有助於上述高盈利成長。
Conclusion
結論
In total, it does look like Jiangsu Hoperun Software has some positive aspects to its business. With a high rate of reinvestment, albeit at a low ROE, the company has managed to see a considerable growth in its earnings. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.
總體而言，潤和軟件的業務具有一些積極方面。雖然roe較低，但其高比例的再投資率使公司的盈利實現了相當大的增長。最新的行業分析師預測顯示，公司預計將保持其當前的增長率。要了解有關公司的最新分析師預測的更多信息，請查看此分析師預測可視化。
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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.
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有任何反饋？對內容有任何疑慮？請直接與我們聯繫。或者，發送電子郵件至editorial-team@simplywallst.com。
