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The Five-year Loss for China Cinda Asset Management (HKG:1359) Shareholders Likely Driven by Its Shrinking Earnings
The Five-year Loss for China Cinda Asset Management (HKG:1359) Shareholders Likely Driven by Its Shrinking Earnings
For many, the main point of investing is to generate higher returns than the overall market. But in any portfolio, there will be mixed results between individual stocks. At this point some shareholders may be questioning their investment in China Cinda Asset Management Co., Ltd. (HKG:1359), since the last five years saw the share price fall 65%. Shareholders have had an even rougher run lately, with the share price down 15% in the last 90 days.
While the stock has risen 3.8% in the past week but long term shareholders are still in the red, let's see what the fundamentals can tell us.
Check out our latest analysis for China Cinda Asset Management
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.
During the five years over which the share price declined, China Cinda Asset Management's earnings per share (EPS) dropped by 7.5% each year. This reduction in EPS is less than the 19% annual reduction in the share price. So it seems the market was too confident about the business, in the past. The less favorable sentiment is reflected in its current P/E ratio of 3.26.
You can see below how EPS has changed over time (discover the exact values by clicking on the image).
SEHK:1359 Earnings Per Share Growth August 17th 2022We know that China Cinda Asset Management has improved its bottom line lately, but is it going to grow revenue? If you're interested, you could check this free report showing consensus revenue forecasts.
What About Dividends?
As well as measuring the share price return, investors should also consider the total shareholder return (TSR). The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. Arguably, the TSR gives a more comprehensive picture of the return generated by a stock. In the case of China Cinda Asset Management, it has a TSR of -50% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
A Different Perspective
Although it hurts that China Cinda Asset Management returned a loss of 16% in the last twelve months, the broader market was actually worse, returning a loss of 17%. Unfortunately, last year's performance may indicate unresolved challenges, given that it's worse than the annualised loss of 8% over the last half decade. Whilst Baron Rothschild does tell the investor "buy when there's blood in the streets, even if the blood is your own", buyers would need to examine the data carefully to be comfortable that the business itself is sound. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For example, we've discovered 2 warning signs for China Cinda Asset Management (1 doesn't sit too well with us!) that you should be aware of before investing here.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of companies that have proven they can grow earnings.
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on HK exchanges.
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.
对许多人来说,投资的主要目的是创造比整体市场更高的回报。但在任何投资组合中,个股之间的结果都会喜忧参半。在这一点上,一些股东可能会质疑他们在中国信达资产管理有限公司。(HKG:1359),自过去五年股价下跌65%以来。股东们最近的表现更加艰难,股价在过去90天里下跌了15%。
尽管该股在过去一周上涨了3.8%,但长期股东仍处于亏损状态,让我们看看基本面能告诉我们什么。
查看我们对中国信达资产管理公司的最新分析
虽然有效市场假说继续被一些人传授,但事实证明,市场是过度反应的动态系统,投资者并不总是理性的。评估围绕一家公司的情绪变化的一个有缺陷但合理的方法是将每股收益(EPS)与股价进行比较。
在股价下跌的五年中,中国信达资产管理公司的每股收益(EPS)每年下降7.5%。每股收益的这一降幅低于该公司股价每年19%的降幅。因此,过去市场似乎对这项业务过于自信。这种不那么有利的情绪反映在其目前3.26的市盈率上。
您可以在下面看到EPS是如何随着时间的推移而变化的(通过单击图像来了解确切的值)。
联交所:每股盈利增长1359 2022年8月17日我们知道中国信达资产管理公司最近提高了利润,但它会增加收入吗?如果你感兴趣,你可以看看这个免费显示一致收入预测的报告。
那股息呢?
除了衡量股价回报外,投资者还应考虑总股东回报(TSR)。TSR是一种回报计算,计入了现金股息的价值(假设收到的任何股息都进行了再投资),以及任何贴现融资和剥离的计算价值。可以说,TSR更全面地描绘了一只股票产生的回报。以中国信达资产管理公司为例,其最近5年的总资产收益率为-50%。这超过了我们之前提到的它的股价回报。而且,猜测股息支付在很大程度上解释了这种差异是没有好处的!
不同的视角
尽管中国信达资产管理在过去12个月中亏损16%令人痛心,但大盘实际上更糟糕,回报率为17%。不幸的是,去年的表现可能预示着尚未解决的挑战,因为它比过去五年8%的年化损失更糟糕。虽然罗斯柴尔德男爵确实会告诉投资者“在街上有血的时候买入,即使血是你自己的”,但买家需要仔细检查数据,才能确信业务本身是稳健的。我发现,把股价作为衡量企业业绩的长期指标是非常有趣的。但为了真正获得洞察力,我们还需要考虑其他信息。例如,我们发现中国信达资产管理的2个警示信号(%1与我们的关系不太好!)在这里投资之前你应该意识到这一点。
如果你更愿意看看另一家公司--一家财务状况可能更好的公司--那么不要错过这一点免费已证明自己能够实现盈利增长的公司名单。
请注意,本文引用的市场回报反映了目前在香港交易所交易的股票的市场加权平均回报。
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。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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