Jiangsu JieJie Microelectronics Co.,Ltd.'s (SZSE:300623) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Jiangsu JieJie Microelectronics Co.,Ltd.'s (SZSE:300623) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
It is hard to get excited after looking at Jiangsu JieJie MicroelectronicsLtd's (SZSE:300623) recent performance, when its stock has declined 29% over the past three months. However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Jiangsu JieJie MicroelectronicsLtd's ROE today.
看到江苏捷捷微电子股份有限公司(SZSE：300623)最近的表现，很难感到兴奋，其股价在过去三个月里下跌了29%。然而，仔细看看它稳健的财务状况可能会让你重新考虑。鉴于基本面因素通常会推动长期市场结果，该公司值得关注。今天我们特别关注江苏捷捷微电子股份有限公司的净资产收益率。
Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. Put another way, it reveals the company's success at turning shareholder investments into profits.
股本回报率(ROE)是用来评估公司管理层利用公司资本效率的关键指标。换句话说，它揭示了该公司成功地将股东投资转化为利润。
See our latest analysis for Jiangsu JieJie MicroelectronicsLtd
查看我们对江苏捷杰微电子有限公司的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的？
The formula for return on equity is:
这个股本回报率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Jiangsu JieJie MicroelectronicsLtd is:
因此，根据上述公式，江苏捷杰微电子有限公司的净资产收益率为：
12% = CN¥493m ÷ CN¥4.0b (Based on the trailing twelve months to March 2022).
12%=CN元4.93亿×CN元40亿元(以截至2022年3月的12个月为基础)。
The 'return' is the yearly profit. Another way to think of that is that for every CN¥1 worth of equity, the company was able to earn CN¥0.12 in profit.
“回报”就是年度利润。另一种说法是，公司每持有价值1元的股权，就能赚取0.12元的利润。
What Is The Relationship Between ROE And Earnings Growth?
净资产收益率与盈利增长之间有什么关系？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. We now need to evaluate how much profit the company reinvests or "retains" for future growth which then gives us an idea about the growth potential of the company. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.
到目前为止，我们已经了解到净资产收益率衡量的是一家公司创造利润的效率。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长，这就让我们对公司的增长潜力有了一个了解。假设其他条件相同，与没有相同特征的公司相比，拥有更高股本回报率和更高利润保留率的公司通常会有更高的增长率。
Jiangsu JieJie MicroelectronicsLtd's Earnings Growth And 12% ROE
江苏捷捷微电子有限公司盈利增长和12%的净资产收益率
To begin with, Jiangsu JieJie MicroelectronicsLtd seems to have a respectable ROE. On comparing with the average industry ROE of 9.5% the company's ROE looks pretty remarkable. This probably laid the ground for Jiangsu JieJie MicroelectronicsLtd's significant 30% net income growth seen over the past five years. We believe that there might also be other aspects that are positively influencing the company's earnings growth. Such as - high earnings retention or an efficient management in place.
首先，江苏捷捷微电子股份有限公司似乎拥有令人尊敬的净资产收益率。与9.5%的行业平均净资产收益率相比，该公司的净资产收益率看起来相当惊人。这可能为江苏捷捷微电子有限公司在过去五年中净收入大幅增长30%奠定了基础。我们认为，可能还有其他方面正在积极影响公司的收益增长。例如-高收益留存或有效的管理到位。
Next, on comparing Jiangsu JieJie MicroelectronicsLtd's net income growth with the industry, we found that the company's reported growth is similar to the industry average growth rate of 31% in the same period.
接下来，将江苏杰杰微电子有限公司的净收入增长与行业进行比较，我们发现该公司的报告增长与同期31%的行业平均增长率相似。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. One good indicator of expected earnings growth is the P/E ratio which determines the price the market is willing to pay for a stock based on its earnings prospects. So, you may want to check if Jiangsu JieJie MicroelectronicsLtd is trading on a high P/E or a low P/E, relative to its industry.
赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。对于投资者来说，重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。通过这样做，他们将知道股票是将进入清澈的蓝色水域，还是等待沼泽水域。衡量预期收益增长的一个很好的指标是市盈率，它根据一只股票的盈利前景决定市场愿意为其支付的价格。因此，你可能想看看江苏捷捷微电子有限公司的市盈率相对于其行业是高市盈率还是低市盈率。
Is Jiangsu JieJie MicroelectronicsLtd Using Its Retained Earnings Effectively?
江苏杰杰微电子股份有限公司是否有效利用其留存收益？
Jiangsu JieJie MicroelectronicsLtd's three-year median payout ratio is a pretty moderate 26%, meaning the company retains 74% of its income. By the looks of it, the dividend is well covered and Jiangsu JieJie MicroelectronicsLtd is reinvesting its profits efficiently as evidenced by its exceptional growth which we discussed above.
江苏捷捷微电子有限公司的三年中值派息率为26%，相当适中，这意味着该公司保留了74%的收入。从表面上看，股息得到了很好的覆盖，江苏捷杰微电子有限公司正在有效地将其利润进行再投资，这一点从我们上面讨论的非凡增长中可见一斑。
Moreover, Jiangsu JieJie MicroelectronicsLtd is determined to keep sharing its profits with shareholders which we infer from its long history of five years of paying a dividend.
此外，江苏杰杰微电子有限公司决心继续与股东分享利润，这是我们从其五年来派息的悠久历史中推断出来的。
Conclusion
结论
Overall, we are quite pleased with Jiangsu JieJie MicroelectronicsLtd's performance. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. If the company continues to grow its earnings the way it has, that could have a positive impact on its share price given how earnings per share influence long-term share prices. Remember, the price of a stock is also dependent on the perceived risk. Therefore investors must keep themselves informed about the risks involved before investing in any company. You can see the 3 risks we have identified for Jiangsu JieJie MicroelectronicsLtd by visiting our risks dashboard for free on our platform here.
总体而言，我们对江苏杰杰微电子有限公司的表现相当满意。特别是，很高兴看到该公司在业务上投入了大量资金，并获得了高回报率，这导致了其收益的可观增长。如果该公司继续以目前的方式增长收益，考虑到每股收益对长期股价的影响，这可能会对其股价产生积极影响。记住，股票的价格也取决于感知到的风险。因此，投资者在投资任何公司之前，必须随时了解所涉及的风险。您可以通过访问我们的网站查看我们为江苏杰杰微电子有限公司确定的3个风险风险控制面板在我们的平台上是免费的。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
对这篇文章有什么反馈吗？担心内容吗？ 保持联系直接与我们联系。或者，也可以给编辑组发电子邮件，地址是implywallst.com。
本文由Simply Wall St.撰写，具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论，我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议，也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意，我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。