The market's past overconfidence and the divergence between the TSR and share price return due to dividend payments suggest unresolved challenges. Investors need to scrutinize data to ensure business soundness.

Ningbo Zhoushan Port's low P/E ratio is due to its dwindling medium-term earnings, despite market growth prospects. Investors see insufficient potential for earnings improvement to warrant a higher P/E ratio. Unless medium-term conditions improve, the share price will likely remain stagnant.

The constant ROCE and increasing capital employed signals a lack of investment in high-yield projects, raising concern. Coupled with this trend, the stock seems unpromising for those seeking substantial returns. High-earning companies with solid balance sheets may be a better bet.