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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

我們認爲贏合科技(SZSE:300457)存在的問題不僅僅是盈利疲軟。
Simply Wall St ·  2024/11/01 19:34

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.

深圳贏合科技股份有限公司(SZSE:300457)最近發佈的疲弱盈利報告並未引起股價大幅波動。然而,我們認爲投資者應該注意一些潛在的令人擔憂的因素。

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SZSE:300457 Earnings and Revenue History November 1st 2024
SZSE:300457 盈利和營業收入歷史 2024年11月1日

The Power Of Non-Operating Revenue

非營運收入的作用

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.

大多數公司將其營業收入分爲'營業收入',即來自正常運營的收入,以及其他收入,可能包括政府補助等。通常,非營業性收入的激增不會重複出現,因此在非營業性收入對總利潤做出很大貢獻時保持謹慎是明智的。然而,值得注意的是,當非營業性收入突然增加時,有時會給利潤帶來不可持續的提升。值得注意的是,贏合科技在過去一年中非營業性收入大幅增加。事實上,我們的數據表明,非營業性收入從82770萬人民幣增長到36.1億人民幣。非營業性收入的高水平是有問題的,因爲如果(以及何時)它們不再重複,那麼公司的總營業收入(和盈利能力)將下降。爲了更好地理解公司的盈利結果,有時可以考慮如果非營業性收入突然增加,結果會大不相同。

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.

這可能會讓您想知道分析師對未來盈利能力的預測。幸運的是,您可以單擊此處查看基於其估計的未來盈利能力的互動圖表。

Our Take On Shenzhen Yinghe Technology's Profit Performance

我們對深圳贏合科技的盈利表現的看法

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.

由於贏合科技在過去十二個月看到非營業收入大幅增長,我們應該非常謹慎地依賴法定利潤數字,因爲這種潛在不可持續的變化可能會使其受益。因此,我們認爲贏合科技的潛在盈利能力可能低於其法定利潤。但好消息是,過去三年中其每股收益增長非常令人印象深刻。最終,要全面了解該公司,不僅要考慮以上因素。如果您想更多了解贏合科技作爲一家企業,了解其面臨的任何風險非常重要。例如,贏合科技有2個警示標誌(還有1個令人擔憂的),我們認爲您應該了解這些。

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.

本注意事項僅研究了一項可以揭示贏合科技利潤性質的因素。但有很多其他方法可以幫助您了解一家公司。有些人認爲高股本回報率是優質企業的一個好跡象。雖然這可能需要您做一些研究,但您可能會發現這些擁有高股本回報率的公司的免費收藏,或者這些擁有重要內部持股的股票清單會有所幫助。

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的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。

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