Investors More Bullish on New China Life Insurance (SHSE:601336) This Week as Stock Rallies 3.7%, Despite Earnings Trending Downwards Over Past Year
Investors More Bullish on New China Life Insurance (SHSE:601336) This Week as Stock Rallies 3.7%, Despite Earnings Trending Downwards Over Past Year
The simplest way to invest in stocks is to buy exchange traded funds. But investors can boost returns by picking market-beating companies to own shares in. For example, the New China Life Insurance Company Ltd. (SHSE:601336) share price is up 40% in the last 1 year, clearly besting the market return of around 7.1% (not including dividends). So that should have shareholders smiling. The longer term returns have not been as good, with the stock price only 16% higher than it was three years ago.
投资股票的最简单方法是购买交易所交易基金。但投资者可以通过挑选表现优异的公司来提高回报率。例如,新华保险公司股票(SHSE:601336)的股价在过去1年中上涨了40%,明显优于市场回报率约为7.1%(不包括分红)。因此,股东们应该会微笑了。长期回报率并不那么理想,股价仅比三年前高出16%。
The past week has proven to be lucrative for New China Life Insurance investors, so let's see if fundamentals drove the company's one-year performance.
过去一周对新华保险股东来说是赚钱的,让我们看看是否基本面推动了公司的一年表现。
While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just 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.
虽然市场是一个强大的定价机制,但股价反映的不仅仅是企业的基本业绩,还有投资者的情绪。一个不完美但简单的方式来考虑公司市场意识的变化是比较每股收益(EPS)的变化和股价的变化。
During the last year, New China Life Insurance actually saw its earnings per share drop 56%.
在过去一年里,新华保险实际上看到其每股收益下降了56%。
This means it's unlikely the market is judging the company based on earnings growth. Therefore, it seems likely that investors are putting more weight on metrics other than EPS, at the moment.
这意味着市场不太可能根据收益增长来评估公司。因此,目前看来,投资者更加重视除每股收益之外的指标。
Unfortunately New China Life Insurance's fell 16% over twelve months. So the fundamental metrics don't provide an obvious explanation for the share price gain.
很遗憾,新华保险股价在十二个月内下跌了16%。因此,基本指标并没有明显解释股价上涨的原因。
The graphic below depicts how earnings and revenue have changed over time (unveil the exact values by clicking on the image).
下面的图表显示了收益和营收随时间的变化情况(通过单击图像揭示确切的值)。

It's probably worth noting that the CEO is paid less than the median at similar sized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. If you are thinking of buying or selling New China Life Insurance stock, you should check out this free report showing analyst profit forecasts.
值得注意的是,CEO的薪酬低于类似规模公司的中位数。但是,虽然CEO的薪酬值得检查,但真正重要的问题是该公司是否能够在未来增长收益。如果您正在考虑买入或卖出新华保险股票,您应该查看这份免费报告,其中显示了分析师的利润预测。
What About Dividends?
那么分红怎么样呢?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. We note that for New China Life Insurance the TSR over the last 1 year was 44%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
除了衡量股价回报外,投资者还应考虑总股东回报(TSR)。TSR是一种回报计算,考虑了现金分红的价值(假设已再投资任何收到的股息)以及任何折现的资本增发和分拆的计算价值。可以说TSR为支付股息的股票提供了更完整的图片。我们注意到,新华保险过去1年的TSR为44%,比上述股价回报要好。这在很大程度上是其股息支付的结果!
A Different Perspective
不同的观点
It's nice to see that New China Life Insurance shareholders have received a total shareholder return of 44% over the last year. That's including the dividend. That's better than the annualised return of 4% 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's always interesting to track share price performance over the longer term. But to understand New China Life Insurance better, we need to consider many other factors. For instance, we've identified 2 warning signs for New China Life Insurance that you should be aware of.
很高兴看到新华保险的股东在过去一年中获得了总股东回报率高达44%。这已经包括了分红派息。比过去五年年化回报率4%更好,这意味着公司最近表现更好。鉴于股价的势头依然强劲,值得更仔细地研究该股,以免错失机会。长期追踪股价表现总是很有趣。但要更好地了解新华保险,我们需要考虑许多其他因素。例如,我们已经发现了新华保险的2个警示信号,你应该注意。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.
当然,您可能在其他地方找到一家出色的企业进行投资。因此,请查看我们预计将实现盈利增长的公司的免费列表。
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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