Shenzhen Desay Battery Technology (SZSE:000049) Sheds CN¥427m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Three Years
Shenzhen Desay Battery Technology (SZSE:000049) Sheds CN¥427m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Three Years
For many investors, the main point of stock picking is to generate higher returns than the overall market. But its virtually certain that sometimes you will buy stocks that fall short of the market average returns. We regret to report that long term Shenzhen Desay Battery Technology Co., Ltd. (SZSE:000049) shareholders have had that experience, with the share price dropping 44% in three years, versus a market decline of about 29%. And more recent buyers are having a tough time too, with a drop of 31% in the last year. Unfortunately the share price momentum is still quite negative, with prices down 20% in thirty days.
对于许多投资者来说,股票投资的主要目的是获得比整个市场更高的回报。但几乎可以肯定的是,有时您会购买到的股票的回报率低于市场平均水平。我们很抱歉地报告,长期持有深圳德赛电池科技股份有限公司(SZSE:000049)股票的股东也有此经历,该股股价在三年内下跌了44%,而市场下跌了约29%。而最近的买家也遭遇了困境,去年下跌了31%。不幸的是,股价势头仍然非常负面,而股价在30天内下跌了20%。
Since Shenzhen Desay Battery Technology has shed CN¥427m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
由于过去7天深圳德赛电池科技市值已经缩水了42700万人民币,让我们看看长期的衰退是否是由公司的经济所驱动的。
There is no denying that markets are sometimes efficient, but prices do not always reflect underlying business performance. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
不可否认的是,市场有时是高效的,但价格并不总是反映潜在的商业表现。一个不完美但简单的方法来考虑公司市场感知如何改变是比较每股收益(EPS)变化和股价变动。
During the three years that the share price fell, Shenzhen Desay Battery Technology's earnings per share (EPS) dropped by 18% each year. The 18% average annual share price decline is remarkably close to the EPS decline. That suggests that the market sentiment around the company hasn't changed much over that time, despite the disappointment. Rather, the share price has approximately tracked EPS growth.
在股价下跌的三年内,深圳德赛电池科技的每股收益(EPS)每年下降了18%。18%的年平均股价下跌幅度与EPS下降幅度惊人地接近。这表明,尽管令人失望,但公司周围的市场情绪没有发生太大变化。相反,股价大致跟踪股本增长。
The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).
下图显示了EPS随时间变化的情况(点击图像以显示确切值)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240811/0-f50ff44cd7a33dcede568100c42564e1-0-02dab30fb78a31209c1ccd3e36d6c74f.png/big)
Before buying or selling a stock, we always recommend a close examination of historic growth trends, available here.
在购买或出售股票之前,我们始终建议对历史增长趋势进行仔细研究,可以在这里找到相关信息。
What About Dividends?
那么分红怎么样呢?
When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. As it happens, Shenzhen Desay Battery Technology's TSR for the last 3 years was -36%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!
在观察投资回报率时,重要的是要考虑总股东回报率(TSR)和股价回报率之间的差异。TSR是一个回报率计算,考虑了现金股息的价值(假定收到任何股息都是再投资)以及任何折扣后的股本募集和分拆的计算价值。可以说,TSR提供了更全面的股票回报率图像。恰好,深圳德赛电池科技过去3年的TSR为-36%,超过了先前提到的股价回报率。这在很大程度上是由其股息支付所致!
A Different Perspective
不同的观点
We regret to report that Shenzhen Desay Battery Technology shareholders are down 24% for the year (even including dividends). Unfortunately, that's worse than the broader market decline of 18%. However, it could simply be that the share price has been impacted by broader market jitters. It might be worth keeping an eye on the fundamentals, in case there's a good opportunity. Longer term investors wouldn't be so upset, since they would have made 1.0%, each year, over five years. If the fundamental data continues to indicate long term sustainable growth, the current sell-off could be an opportunity worth considering. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 3 warning signs for Shenzhen Desay Battery Technology that you should be aware of before investing here.
我们很遗憾地报告,深圳德赛电池科技的股东今年已经跌了24%(包括股息)。不幸的是,这比市场整体下跌的18%还要糟糕。然而,这可能仅仅是因为股价受到了更广泛的市场担忧的影响。值得关注的是公司基本面,以便掌握好机会。长期投资者不会那么不安,因为他们每年都会获得1.0%的回报,在五年内完成投资。如果基本数据继续显示出长期可持续增长,目前的抛售可能是值得考虑的机会。虽然值得考虑市场状况对股价的不同影响,但还有其他更重要的因素。例如,我们在这里发现了3个深圳德赛电池科技的警示信号,投资前需了解。
If you like to buy stocks alongside management, then you might just love this free list of companies. (Hint: many of them are unnoticed AND have attractive valuation).
如果您喜欢与管理层一起购买股票,那么您可能会喜欢这个公司的免费列表。 (提示:其中许多公司不为人注意且具有吸引力的估值。)
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Chinese exchanges.
请注意,本文引用的市场回报反映了目前在中国交易所上市的股票的市场加权平均回报。
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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。