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We Think That There Are More Issues For Shenzhen Yinghe Technology (SZSE:300457) Than Just Sluggish Earnings

We Think That There Are More Issues For Shenzhen Yinghe Technology (SZSE:300457) Than Just Sluggish Earnings

我们认为,赢合科技(SZSE:300457)除了盈利疲软之外,还存在更多问题。
Simply Wall St ·  2024/11/02 07:34

Shenzhen Yinghe Technology Co., Ltd's (SZSE:300457) recent weak earnings report didn't cause a big stock movement. However, we believe that investors should be aware of some underlying factors which may be of concern.

深圳赢合科技股份有限公司(SZSE:300457)最近发布的疲弱盈利报告并未引起股价大幅波动。然而,我们认为投资者应该注意一些潜在的令人担忧的因素。

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SZSE:300457 Earnings and Revenue History November 1st 2024
SZSE:300457 盈利和营业收入历史 2024年11月1日

The Power Of Non-Operating Revenue

非营运收入的作用

Most companies divide classify their revenue as either 'operating revenue', which comes from normal operations, and other revenue, which could include government grants, for example. Oftentimes, non-operating revenue spikes are not repeated, so it makes sense to be cautious where non-operating revenue has made a very large contribution to total profit. However, we note that when non-operating revenue increases suddenly, it will sometimes generate an unsustainable boost to profit. It's worth noting that Shenzhen Yinghe Technology saw a big increase in non-operating revenue over the last year. In fact, our data indicates that non-operating revenue increased from CN¥827.7m to CN¥3.61b. The high levels of non-operating revenue are problematic because if (and when) they do not repeat, then overall revenue (and profitability) of the firm will fall. In order to better understand a company's profit result, it can sometimes help to consider whether the result would be very different without a sudden increase in non-operating revenue.

大多数公司将其营业收入分为'营业收入',即来自正常运营的收入,以及其他收入,可能包括政府补助等。通常,非营业性收入的激增不会重复出现,因此在非营业性收入对总利润做出很大贡献时保持谨慎是明智的。然而,值得注意的是,当非营业性收入突然增加时,有时会给利润带来不可持续的提升。值得注意的是,赢合科技在过去一年中非营业性收入大幅增加。事实上,我们的数据表明,非营业性收入从82770万人民币增长到36.1亿人民币。非营业性收入的高水平是有问题的,因为如果(以及何时)它们不再重复,那么公司的总营业收入(和盈利能力)将下降。为了更好地理解公司的盈利结果,有时可以考虑如果非营业性收入突然增加,结果会大不相同。

That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.

这可能会让您想知道分析师对未来盈利能力的预测。幸运的是,您可以单击此处查看基于其估计的未来盈利能力的互动图表。

Our Take On Shenzhen Yinghe Technology's Profit Performance

我们对深圳赢合科技的盈利表现的看法

Since Shenzhen Yinghe Technology saw a big increase in its non-operating revenue over the last twelve months, we'd be very cautious about relying too heavily on the statutory profit number, which would have benefitted from this potentially unsustainable change. As a result, we think it may well be the case that Shenzhen Yinghe Technology's underlying earnings power is lower than its statutory profit. But the good news is that its EPS growth over the last three years has been very impressive. 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. If you'd like to know more about Shenzhen Yinghe Technology as a business, it's important to be aware of any risks it's facing. For example, Shenzhen Yinghe Technology has 2 warning signs (and 1 which is concerning) we think you should know about.

由于赢合科技在过去十二个月看到非营业收入大幅增长,我们应该非常谨慎地依赖法定利润数字,因为这种潜在不可持续的变化可能会使其受益。因此,我们认为赢合科技的潜在盈利能力可能低于其法定利润。但好消息是,过去三年中其每股收益增长非常令人印象深刻。最终,要全面了解该公司,不仅要考虑以上因素。如果您想更多了解赢合科技作为一家企业,了解其面临的任何风险非常重要。例如,赢合科技有2个警示标志(还有1个令人担忧的),我们认为您应该了解这些。

This note has only looked at a single factor that sheds light on the nature of Shenzhen Yinghe Technology's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful.

本注意事项仅研究了一项可以揭示赢合科技利润性质的因素。但有很多其他方法可以帮助您了解一家公司。有些人认为高股本回报率是优质企业的一个好迹象。虽然这可能需要您做一些研究,但您可能会发现这些拥有高股本回报率的公司的免费收藏,或者这些拥有重要内部持股的股票清单会有所帮助。

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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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