Sinotrans is undervalued and offers a good buying opportunity, with expected double-digit profit growth not fully reflected in the share price. Consider other factors like capital structure before investing.

Despite Sinotrans' EPS and revenue drop, its share price has performed well, indicating investors may overlook these metrics. The divergence between the TSR and share price return suggests dividends have significantly impacted the company's performance. The recent TSR improvement could be seen optimistically, indicating business improvement over time.

Sinotrans' low P/E ratio is due to its poor earnings outlook. Shareholders accept this, acknowledging future earnings may not bring pleasant surprises. Without improvement, this will continue to hinder the share price.

Sinotrans may be past its growth phase given flat ROCE and capital employed trends. Without substantial changes, it's unlikely to be a multi-bagger. High level of current liabilities could be a concern.