Baotailong New Materials' declining ROCE and stock price over the past five years suggest it lacks multi-bagger potential. The company's investments have not yet boosted earnings.

Despite Baotailong New Materials' strong share price, there are growing doubts about its sustainability, mainly due to its lower ROE compared to industry standards and decreasing net income. Although profits are being reinvested, low ROE and falling earnings may suggest investors aren't reaping the benefits of the reinvestment.