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Shanghai Chemspec's (SHSE:688602) Problems Go Beyond Weak Profit

Shanghai Chemspec's (SHSE:688602) Problems Go Beyond Weak Profit

上海化學專精公司(SHSE:688602)的問題不僅僅是利潤不佳
Simply Wall St ·  08/30 19:14

Investors were disappointed by Shanghai Chemspec Corporation's (SHSE:688602 ) latest earnings release. We did some analysis, and found that there are some reasons to be cautious about the headline numbers.

投資者對上海長鵬化工股份有限公司(SHSE:688602)最新業績感到失望。我們進行了分析,發現頭條數據存在一些需要謹慎的原因。

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SHSE:688602 Earnings and Revenue History August 30th 2024
SHSE:688602利潤和營業收入歷史 2024年8月30日

The Impact Of Unusual Items On Profit

除了稀釋之外,還應該注意的是,萬集科技在過去12個月中因不尋常項目獲得了價值人民幣3.5萬元的利潤。雖然我們希望看到利潤增加,但當這些不尋常項目對利潤做出重大貢獻時,我們會更加謹慎。我們對全球大部分上市公司的數據進行了分析,發現不尋常項目往往是一次性的。這正如我們所期望的那樣,因爲這些提升被描述爲"不尋常"。相對於其利潤而言,萬集科技在2021年12月前的不尋常項目貢獻大。因此,我們可以推斷出,這些不尋常項目正在使其財務利潤顯著增強。

Importantly, our data indicates that Shanghai Chemspec's profit received a boost of CN¥39m in unusual items, over the last year. While we like to see profit increases, we tend to be a little more cautious when unusual items have made a big contribution. We ran the numbers on most publicly listed companies worldwide, and it's very common for unusual items to be once-off in nature. And that's as you'd expect, given these boosts are described as 'unusual'. We can see that Shanghai Chemspec'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.

重要的是,我們的數據顯示,上海長鵬化工去年因飛凡項目獲得盈利增加了3900萬人民幣。雖然我們樂見利潤增加,但當飛凡項目做出重大貢獻時,我們往往會更謹慎一些。我們對全球大多數上市公司進行了數據分析,發現飛凡項目一般是一次性的。這正如你所期望的那樣,因爲這些增益被描述爲「飛凡」。我們可以看到,與2024年6月的利潤相比,上海長鵬化工的飛凡項目盈利是相當顯著的。因此,我們可以推測,飛凡項目使其法定盈利比原本強了很多。

Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Shanghai Chemspec.

注:我們始終建議投資者檢查資產負債表的實力。點擊這裏查看我們對上海長鵬化工資產負債表的分析。

Our Take On Shanghai Chemspec's Profit Performance

我們對上海長鵬化工的盈利表現的看法

As we discussed above, we think the significant positive unusual item makes Shanghai Chemspec's earnings a poor guide to its underlying profitability. As a result, we think it may well be the case that Shanghai Chemspec's underlying earnings power is lower than its statutory profit. Sadly, its EPS was down over the last twelve months. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. 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 Shanghai Chemspec (including 1 which is potentially serious).

正如我們上面討論過的,我們認爲重要的積極飛凡因素使得上海中申的收益不是其潛在盈利能力的良好指標。因此,我們認爲上海中申的潛在盈利實力可能低於其法定利潤。遺憾的是,過去十二個月其每股收益下降了。本文的目標是評估我們能否依靠法定收益來反映公司的潛力,但還有很多要考慮的。鑑於這一點,如果您希望對該公司進行更多分析,了解涉及的風險是至關重要的。爲此,您應該了解我們在上海中申發現的4個警示跡象(其中1個可能很嚴重)。

This note has only looked at a single factor that sheds light on the nature of Shanghai Chemspec'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.

這篇筆記僅僅考慮了一個揭示上海中申利潤性質的單一因素。但還有很多其他方法可以幫助您評價一家公司。例如,許多人認爲高股本回報率是有利的商業經濟的指標,而另一些人喜歡「追蹤資金」並尋找內部人士正在買入的股票。因此,您可能希望查看這個免費的高股本回報率公司收集,或者這份擁有高內部持股的股票清單。

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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。

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