We Think That There Are More Issues For Anfu CE LINK (SZSE:300787) Than Just Sluggish Earnings
We Think That There Are More Issues For Anfu CE LINK (SZSE:300787) Than Just Sluggish Earnings
The subdued market reaction suggests that Anfu CE LINK Limited's (SZSE:300787) recent earnings didn't contain any surprises. However, we believe that investors should be aware of some underlying factors which may be of concern.
市场反应的冷淡表明海能实业(SZSE:300787)最近的收益没有什么意外。然而,我们认为投资者应该注意一些潜在因素,这可能是令人担忧的。
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The Impact Of Unusual Items On Profit
除了稀释之外,还应该注意的是,万集科技在过去12个月中因不寻常项目获得了价值人民币3.5万元的利润。虽然我们希望看到利润增加,但当这些不寻常项目对利润做出重大贡献时,我们会更加谨慎。我们对全球大部分上市公司的数据进行了分析,发现不寻常项目往往是一次性的。这正如我们所期望的那样,因为这些提升被描述为"不寻常"。相对于其利润而言,万集科技在2021年12月前的不寻常项目贡献大。因此,我们可以推断出,这些不寻常项目正在使其财务利润显著增强。
For anyone who wants to understand Anfu CE LINK's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from CN¥27m worth of unusual items. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And, after all, that's exactly what the accounting terminology implies. We can see that Anfu CE LINK's positive unusual items were quite significant relative to its profit in the year to June 2024. As a result, we can surmise that the unusual items are making its statutory profit significantly stronger than it would otherwise be.
对于任何想了解海能实业超出法定数字的利润的人来说,重要的是要注意,在过去的十二个月里,法定利润增长了2700万人民币的非寻常项目。尽管有更高的利润总是令人愉快的,但非寻常项目的大量贡献有时会抑制我们的热情。当我们对成千上万家上市公司进行数据分析时,我们发现在某一年中获得的非寻常项目的提振往往在下一年不会重复出现。毕竟,这也正是会计术语的意思。我们可以看到,海能实业的正面非寻常项目相对于2024年6月的利润来说相当重要。因此,我们可以推断出非寻常项目使其法定利润比本来要强得多。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Anfu CE LINK.
注:我们始终建议投资者检查资产负债表的强度。点击此处查看对海能实业资产负债表的分析。
Our Take On Anfu CE LINK's Profit Performance
我们对海能实业的盈利表现的看法
As previously mentioned, Anfu CE LINK's large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. For this reason, we think that Anfu CE LINK's statutory profits may be a bad guide to its underlying earnings power, and might give investors an overly positive impression of the company. But at least holders can take some solace from the 28% per annum growth in EPS for the last three. At the end of the day, it's essential to consider more than just the factors above, if you want to understand the company properly. In light of this, if you'd like to do more analysis on the company, it's vital to be informed of the risks involved. To that end, you should learn about the 4 warning signs we've spotted with Anfu CE LINK (including 1 which can't be ignored).
正如先前所提到的,飞凡CE LINK由于非常规项目的大幅提升在持续几年来不会再出现,因此其财务报表利润可能不是其潜在盈利能力的良好指引。出于这个原因,我们认为飞凡CE LINK的财务报表利润可能不能很好地指引其潜在盈利能力,并且可能给投资者过于积极的印象。但至少股东可以从过去三年每股收益年增28%中得到一些安慰。归根结底,如果你想正确理解公司,必须考虑的因素不仅仅是上述因素。鉴于此,如果你想对该公司进行更多分析,了解所涉及的风险是非常重要的。为此,你应该了解我们在飞凡CE LINk发现的4个警示信号(其中一个不能被忽视)。
Today we've zoomed in on a single data point to better understand the nature of Anfu CE LINK's profit. But there are plenty of other ways to inform your opinion of a company. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks with high insider ownership.
今天,我们将注意力集中在一个数据点上,以更好地了解飞凡CE LINK利润的性质。但还有很多其他方法可以了解一个公司。例如,许多人认为高净资产回报率是良好的商业经济指标,而其他人则喜欢“跟随资金”,寻找内部人正在购买的股票。因此,你可能希望查看这个免费的高净资产回报率公司收藏,或者这个高内部持股的股票列表。
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