The company's consistent low ROCE and increase in capital employed indicate that it is not deploying funds into high return investments. If these trends persist, it is unlikely to be a multi-bagger going forward.

Low P/E ratio of Jiangsu Phoenix Publishing & Media indicates inferior earnings outlook, with investors skeptical about its improvement. This might further suppress its share price.

Jiangsu Phoenix Publishing & Media's high ROE significantly contributes to its notable earnings growth. Despite minimal reinvestment of profits, the company's earnings continue to significantly increase, predicting a continued growth trajectory.