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CIG ShangHai Co., Ltd.'s (SHSE:603083) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?

CIG ShangHai Co., Ltd.'s (SHSE:603083) Stock On An Uptrend: Could Fundamentals Be Driving The Momentum?

剑桥科技有限公司(SHSE:603083)的股票处于上涨趋势:基本面是推动动力的原因吗?
Simply Wall St ·  11/15 15:28

CIG ShangHai's (SHSE:603083) stock is up by a considerable 69% over the past three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Specifically, we decided to study CIG ShangHai's ROE in this article.

剑桥科技(603083.SH)的股价在过去三个月中上涨了可观的69%。我们想知道公司财务状况在股价变动中起了怎样的作用,因为公司的长期基本面通常决定市场结果。具体来说,我们决定在本文中研究剑桥科技的roe。

Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.

股东权益回报率ROE是测试公司增值能力和管理股东投资的有效性的指标。更简单地说,它衡量公司在股东权益中的盈利能力。

How Do You Calculate Return On Equity?

如何计算净资产收益率?

ROE can be calculated by using the formula:

roe可以通过以下公式计算:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

净资产收益率 = 净利润(来自持续经营) ÷ 股东权益

So, based on the above formula, the ROE for CIG ShangHai is:

因此,根据以上公式,剑桥科技的roe是:

5.4% = CN¥129m ÷ CN¥2.4b (Based on the trailing twelve months to September 2024).

5.4% = 12900万人民币 ÷ 24亿人民币 (基于2024年9月止的过去十二个月)。

The 'return' is the profit over the last twelve months. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.05 in profit.

“回报”是过去十二个月的盈利。另一种思考方式是,对于每一元人民币的净资产,公司能够创造0.05元人民币的利润。

Why Is ROE Important For Earnings Growth?

ROE为什么对净利润增长很重要?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.

到目前为止,我们已经了解了roe是衡量公司盈利能力的一种指标。根据公司选择重新投资或“保留”多少利润,我们就能评估公司未来盈利的能力。一般来说,其他条件相同的情况下,具有高roe和盈利保留的公司比不具备这些属性的公司增长率更高。

A Side By Side comparison of CIG ShangHai's Earnings Growth And 5.4% ROE

剑桥科技的盈利增长和5.4%的roe的横向比较

At first glance, CIG ShangHai's ROE doesn't look very promising. Yet, a closer study shows that the company's ROE is similar to the industry average of 5.6%. Looking at CIG ShangHai's exceptional 47% five-year net income growth in particular, we are definitely impressed. Taking into consideration that the ROE is not particularly high, we reckon that there could also be other factors at play which could be influencing the company's growth. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.

乍一看,剑桥科技的roe看起来并不十分令人满意。然而,更仔细的研究显示,该公司的roe与行业平均水平5.6%相似。特别是看到剑桥科技在过去五年中净利润增长了47%,我们确实印象深刻。考虑到roe并不特别高,我们认为可能还有其他因素在起作用影响了公司的增长。例如,公司的管理可能做出了一些明智的战略决策,或者公司的派息比率较低。

Next, on comparing with the industry net income growth, we found that CIG ShangHai's growth is quite high when compared to the industry average growth of 12% in the same period, which is great to see.

接下来,与行业净利润增长进行比较,我们发现剑桥科技的增长在同一时期比行业平均增长12%高得多,看到这样的增长是很好的。

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SHSE:603083 Past Earnings Growth November 15th 2024
SHSE:603083过去盈利增长2024年11月15日

Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is CIG ShangHai fairly valued compared to other companies? These 3 valuation measures might help you decide.

盈利增长是股票估值中的一个重要因素。对于投资者来说,了解市场是否已经将公司预期的盈利增长(或下降)计价进去至关重要。这样做将帮助他们判断股票的未来是光明还是黑暗。与其他公司相比,剑桥科技的估值是否合理?这3项估值指标可能会帮助您做出决定。

Is CIG ShangHai Using Its Retained Earnings Effectively?

剑桥科技是否有效利用留存收益?

The high three-year median payout ratio of 54% (implying that it keeps only 46% of profits) for CIG ShangHai suggests that the company's growth wasn't really hampered despite it returning most of the earnings to its shareholders.

剑桥科技的高三年中位数股利支付比率为54%(暗示该公司仅保留了46%的利润),这表明即使它大部分利润分配给股东,该公司的增长也没有受到真正阻碍。

Moreover, CIG ShangHai is determined to keep sharing its profits with shareholders which we infer from its long history of six years of paying a dividend.

此外,我们可以从剑桥科技长达六年的分红历史推断出,该公司决心继续与股东分享利润。

Conclusion

结论

On the whole, we do feel that CIG ShangHai has some positive attributes. While no doubt its earnings growth is pretty substantial, we do feel that the reinvestment rate is pretty low, meaning, the earnings growth number could have been significantly higher had the company been retaining more of its profits. Up till now, we've only made a short study of the company's growth data. So it may be worth checking this free detailed graph of CIG ShangHai's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.

总的来看,我们确实认为剑桥科技有一些积极的特点。虽然毫无疑问其盈利增长相当可观,但我们认为再投资率相当低,这意味着如果公司留住更多利润,盈利增长数字本可以显著更高。到目前为止,我们只对公司的增长数据进行了简短的研究。因此,查看剑桥科技过去的盈利以及营业收入和现金流的免费详细图表可能是值得的,以深入了解公司的绩效。

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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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