Despite Henan Senyuan Electric's solid revenue growth, market expectations of a decline could be suppressing the P/S ratio. The company's revenue trends, falling short of industry expectations, are key to its low P/S ratio. Investors may feel potential for revenue improvement doesn't justify a higher P/S ratio.

Despite a profitable shift, the share price is falling, potentially due to underwhelming revenue trends. An 11% gain in the last three months and a larger market cap hint at a possible positive business turnaround.