Pulling Back 24% This Week, Xin Yuan Enterprises Group's HKG:1748) Five-year Decline in Earnings May Be Coming Into Investors Focus
Pulling Back 24% This Week, Xin Yuan Enterprises Group's HKG:1748) Five-year Decline in Earnings May Be Coming Into Investors Focus
It's been a soft week for Xin Yuan Enterprises Group Limited (HKG:1748) shares, which are down 24%. But that scarcely detracts from the really solid long term returns generated by the company over five years. Indeed, the share price is up an impressive 119% in that time. So while it's never fun to see a share price fall, it's important to look at a longer time horizon. Only time will tell if there is still too much optimism currently reflected in the share price.
新元企業集團有限公司(HKG:1748)股價下跌24%,上週表現不佳。但是,這並不能減少該公司在五年內帶來的真正可靠的長期回報。事實上,該股票的價格在這段時間內增長了令人印象深刻的119%。因此,儘管看到股價下跌從來不是一件有趣的事情,但重要的是要看一個更長的時間段。只有時間會告訴我們目前股價中是否仍然存在過度樂觀的情況。
Although Xin Yuan Enterprises Group has shed HK$440m from its market cap this week, let's take a look at its longer term fundamental trends and see if they've driven returns.
儘管新元企業集團上週市值減少了HK$44000萬,但讓我們來看看它長期的基本趨勢,看看它們是否已推動收益。
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. 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.
雖然一些人仍然相信有效市場假說,但已經證明市場是過度反應的動態系統,投資者並不總是理性的。一個不完美但簡單的方法來考慮公司市場看法的變化是比較每股收益(EPS)的變化和股價的波動。
Xin Yuan Enterprises Group's earnings per share are down 0.9% per year, despite strong share price performance over five years.
儘管新元企業集團的股價表現強勁,但每年的每股收益下降了0.9%,並持續了五年。
So it's hard to argue that the earnings per share are the best metric to judge the company, as it may not be optimized for profits at this point. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
因此,很難說每股收益是評判公司的最佳指標,因爲此時它可能沒有針對利潤進行優化。由於每股收益的變化似乎與股價的變化無關,因此值得查看其他指標。
In contrast revenue growth of 6.4% per year is probably viewed as evidence that Xin Yuan Enterprises Group is growing, a real positive. In that case, the company may be sacrificing current earnings per share to drive growth.
相反,每年6.4%的營業收入增長可能被視爲新元企業集團正在增長的證據,這是一個真正的積極因素。在這種情況下,公司可能會犧牲當前每股收益以推動增長。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
以下圖像顯示了公司的營業收入和盈利(隨時間變化)(單擊以查看準確的數字)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240814/0-f33ece1752b2d6a2fa2e9b848812ec6b-0-a423dc49d47acb47394c93207d9990e4.png/big)
We like that insiders have been buying shares in the last twelve months. Even so, future earnings will be far more important to whether current shareholders make money. Dive deeper into the earnings by checking this interactive graph of Xin Yuan Enterprises Group's earnings, revenue and cash flow.
我們喜歡內部人過去12個月一直在購買新元企業集團的股票。即便如此,未來的盈利對於現有股東是否能賺錢更爲重要。通過檢查新元企業集團收益、營收和現金流的互動圖表,深入了解收益情況。
What About The Total Shareholder Return (TSR)?
那麼,股東總回報(TSR)呢?
We've already covered Xin Yuan Enterprises Group's share price action, but we should also mention its total shareholder return (TSR). Arguably the TSR is a more complete return calculation because it accounts for the value of dividends (as if they were reinvested), along with the hypothetical value of any discounted capital that have been offered to shareholders. Xin Yuan Enterprises Group hasn't been paying dividends, but its TSR of 146% exceeds its share price return of 119%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.
我們已經討論了新元企業集團的股價變動,但我們還應該提到其總股東回報率(TSR)。可以說,TSR是一種更完整的回報計算,因爲它考慮了股息的價值(好像它們被再投資了),以及向股東提供的任何折扣資本的假定值。新元企業集團並沒有支付股息,但其146%的TSR超過了119%的股價回報率,表明它可能已經剝離了業務,或以優惠價格籌集了資本;從而爲股東提供了額外的價值。
A Different Perspective
不同的觀點
We're pleased to report that Xin Yuan Enterprises Group shareholders have received a total shareholder return of 60% over one year. That's better than the annualised return of 20% over half a decade, implying that the company is doing better recently. Given the share price momentum remains strong, it might be worth taking a closer look at the stock, lest you miss an opportunity. It is all well and good that insiders have been buying shares, but we suggest you check here to see what price insiders were buying at.
我們很高興地報告,新元企業集團股東在過去一年內獲得了60%的總股東回報率。相比之下,半個十年的年化回報率爲20%,表明該公司近期的表現更好。鑑於股價動力仍然強勁,不妨仔細觀察該股票,免得錯過機會。儘管內部人一直在購買股票,但我們建議您在此處檢查他們購買的價格。
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
還有很多其他的公司,公司的內部人士正在購買股票。你可能不想錯過這個免費的小市值公司的低估列表。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.
請注意,本文引用的市場回報反映了當前在香港證券交易所交易的股票的市場加權平均回報。
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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。