Fushun Special SteelLTD's high P/E ratio is justified by its superior earnings outlook. Shareholders are confident in the company's future earnings and are not eager to sell their shares.

The company's low ROE and lack of earnings growth over the past five years raise concerns. Despite heavy investment and analysts' optimistic future forecasts, the funds may not be efficiently utilized due to low returns and declining earnings.

The company's move to profitability and reinvestment trends point towards promising growth. Despite certain risks, its sterling stock performance over the last five years suggests investors acknowledge this progress.