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Investors Who Have Held Nanjing Xinlian Electronics (SZSE:002546) Over the Last Year Have Watched Its Earnings Decline Along With Their Investment

Investors Who Have Held Nanjing Xinlian Electronics (SZSE:002546) Over the Last Year Have Watched Its Earnings Decline Along With Their Investment

持有新联电子(SZSE:002546)股票的投资者在过去一年中看到其盈利下降,也随之看到了投资价值的下降。
Simply Wall St ·  2024/10/31 07:34

While it may not be enough for some shareholders, we think it is good to see the Nanjing Xinlian Electronics Co., Ltd (SZSE:002546) share price up 29% in a single quarter. But that is minimal compensation for the share price under-performance over the last year. After all, the share price is down 14% in the last year, significantly under-performing the market.

尽管这对一些股东来说可能还不够,但我们认为南京新联电子有限公司(SZSE:002546)的股价在单季度内上涨29%是件好事。但这是对去年股价表现不佳的最低补偿。毕竟,去年股价下跌了14%,表现大大低于市场。

While the last year has been tough for Nanjing Xinlian Electronics shareholders, this past week has shown signs of promise. So let's look at the longer term fundamentals and see if they've been the driver of the negative returns.

尽管去年对南京新联电子的股东来说是艰难的一年,但过去一周显示出希望的迹象。因此,让我们来看看长期基本面,看看它们是否是负回报的驱动力。

To quote Buffett, 'Ships will sail around the world but the Flat Earth Society will flourish. There will continue to be wide discrepancies between price and value in the marketplace...' By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

引用巴菲特的话说:“船只将在世界各地航行,但Flat Earth Society将蓬勃发展。市场上的价格和价值之间将继续存在巨大差异...”通过比较每股收益(EPS)和一段时间内的股价变化,我们可以了解投资者对公司的态度是如何随着时间的推移而变化的。

During the last year Nanjing Xinlian Electronics grew its earnings per share, moving from a loss to a profit.

去年,南京新联电子的每股收益从亏损转为盈利。

When a company has just transitioned to profitability, earnings per share growth is not always the best way to look at the share price action. But we may find different metrics more enlightening.

当一家公司刚刚过渡到盈利时,每股收益的增长并不总是看待股价走势的最佳方式。但是我们可能会发现不同的指标更具启发性。

Nanjing Xinlian Electronics managed to grow revenue over the last year, which is usually a real positive. Since the fundamental metrics don't readily explain the share price drop, there might be an opportunity if the market has overreacted.

去年,南京新联电子成功实现了收入增长,这通常是一个真正的积极因素。由于基本面指标不容易解释股价下跌,因此如果市场反应过度,可能会有机会。

You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).

您可以在下图中查看收入和收入随着时间的推移而发生的变化(点击图表查看确切的数值)。

big
SZSE:002546 Earnings and Revenue Growth October 30th 2024
SZSE: 002546 2024 年 10 月 30 日收益和收入增长

We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. Dive deeper into the earnings by checking this interactive graph of Nanjing Xinlian Electronics' earnings, revenue and cash flow.

我们很高兴地向大家报告,首席执行官的薪酬比资本相似公司的大多数首席执行官要适中。但是,尽管首席执行官的薪酬总是值得检查的,但真正重要的问题是公司未来能否增加收益。查看这张南京新联电子收益、收入和现金流的互动图表,深入了解收益。

What About Dividends?

那股息呢?

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. Whereas the share price return only reflects the change in the share price, the TSR includes the value of dividends (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. As it happens, Nanjing Xinlian Electronics' TSR for the last 1 year was -12%, which exceeds the share price return mentioned earlier. This is largely a result of its dividend payments!

在考虑投资回报时,重要的是要考虑股东总回报(TSR)和股价回报之间的差异。尽管股价回报率仅反映股价的变化,但股东总回报率包括股息的价值(假设已进行再投资)以及任何折扣融资或分拆的收益。可以公平地说,股东总回报率为支付股息的股票提供了更完整的画面。碰巧的是,南京新联电子过去1年的股东总回报率为-12%,超过了前面提到的股价回报率。这在很大程度上是其股息支付的结果!

A Different Perspective

不同的视角

While the broader market gained around 6.5% in the last year, Nanjing Xinlian Electronics shareholders lost 12% (even including dividends). Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. On the bright side, long term shareholders have made money, with a gain of 4% per year over half a decade. 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. Case in point: We've spotted 4 warning signs for Nanjing Xinlian Electronics you should be aware of, and 1 of them is potentially serious.

尽管去年整体市场上涨了约6.5%,但南京新联电子的股东损失了12%(甚至包括股息)。即使是优质股票的股价有时也会下跌,但我们希望在过于感兴趣之前看到企业基本指标的改善。好的一面是,长期股东赚了钱,在过去的五年中,每年增长4%。如果基本面数据继续显示长期可持续增长,那么当前的抛售可能是一个值得考虑的机会。尽管市场状况可能对股价产生的不同影响值得考虑,但还有其他因素更为重要。一个很好的例子:我们已经发现了你应该注意的南京新联电子的4个警告信号,其中一个可能很严重。

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).

如果你想和管理层一起购买股票,那么你可能会喜欢这份免费的公司清单。(提示:其中许多未被注意且估值诱人)。

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交易的股票的市场加权平均回报率。

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.

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Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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