Is Yunding Technology Co.,Ltd.'s (SZSE:000409) Recent Stock Performance Influenced By Its Fundamentals In Any Way?
Is Yunding Technology Co.,Ltd.'s (SZSE:000409) Recent Stock Performance Influenced By Its Fundamentals In Any Way?
Yunding TechnologyLtd (SZSE:000409) has had a great run on the share market with its stock up by a significant 11% over the last three months. As most would know, fundamentals are what usually guide market price movements over the long-term, so we decided to look at the company's key financial indicators today to determine if they have any role to play in the recent price movement. Specifically, we decided to study Yunding TechnologyLtd's ROE in this article.
云鼎科技股份有限公司（深圳证券交易所代码：000409）在股票市场上表现良好，其股票在过去三个月中大幅上涨了11％。正如大多数人所知道的那样，基本面通常是指导市场价格长期走势的因素，因此我们今天决定研究公司的关键财务指标，以确定它们在近期的价格走势中是否可以发挥任何作用。具体而言，我们决定在本文中研究云鼎科技有限公司的投资回报率。
Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors' money. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
股本回报率或投资回报率是对公司增值和管理投资者资金的有效性的考验。简而言之，它衡量公司相对于股东权益的盈利能力。
How Is ROE Calculated?
ROE 是如何计算的？
ROE can be calculated by using the formula:
ROE 可以通过以下公式计算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率 = 净利润（来自持续经营业务）÷ 股东权益
So, based on the above formula, the ROE for Yunding TechnologyLtd is:
因此，根据上述公式，云鼎科技有限公司的投资回报率为：
6.5% = CN¥114m ÷ CN¥1.8b (Based on the trailing twelve months to December 2023).
6.5% = 1.14亿元人民币 ÷ 18亿元人民币（基于截至2023年12月的过去十二个月）。
The 'return' refers to a company's earnings over the last year. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.06 in profit.
“回报” 是指公司去年的收益。这意味着，每获得价值1元人民币的股东权益，公司就会产生0.06元人民币的利润。
What Has ROE Got To Do With Earnings Growth?
投资回报率与收益增长有什么关系？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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.
我们已经确定，投资回报率是衡量公司未来收益的有效盈利指标。现在，我们需要评估公司再投资或 “保留” 了多少利润以用于未来的增长，从而使我们对公司的增长潜力有所了解。假设其他条件都一样，与功能不相同的公司相比，具有更高股本回报率和更高利润保留率的公司通常具有更高的增长率。
Yunding TechnologyLtd's Earnings Growth And 6.5% ROE
云鼎科技有限公司的收益增长和6.5％的投资回报率
At first glance, Yunding TechnologyLtd's ROE doesn't look very promising. However, given that the company's ROE is similar to the average industry ROE of 7.6%, we may spare it some thought. Looking at Yunding TechnologyLtd's exceptional 38% five-year net income growth in particular, we are definitely impressed. Considering the moderately low ROE, it is quite possible that there might be some other aspects that are positively influencing the company's earnings growth. For instance, the company has a low payout ratio or is being managed efficiently.
乍一看，云鼎科技有限公司的投资回报率看起来并不十分乐观。但是，鉴于该公司的投资回报率与7.6％的平均行业投资回报率相似，我们可以考虑一下。特别是云鼎科技有限公司惊人的 38% 的五年净收入增长，我们肯定印象深刻。考虑到投资回报率适中，很可能还有其他一些方面对公司的收益增长产生积极影响。例如，该公司的派息率较低或管理效率很高。
We then compared Yunding TechnologyLtd's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 12% in the same 5-year period.
然后，我们将云鼎科技有限公司的净收入增长与该行业进行了比较，我们很高兴地看到，与同期5年同期增长12％的行业相比，该公司的增长数字更高。
Earnings growth is a huge factor in stock valuation. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). This then helps them determine if the stock is placed for a bright or bleak future. 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 Yunding TechnologyLtd is trading on a high P/E or a low P/E, relative to its industry.
收益增长是股票估值的重要因素。对于投资者来说，重要的是要知道市场是否对公司的预期收益增长（或下降）进行了定价。然后，这可以帮助他们确定股票是为光明还是暗淡的未来而布局。衡量预期收益增长的一个很好的指标是市盈率，它根据收益前景决定了市场愿意为股票支付的价格。因此，您可能需要检查云鼎科技相对于其行业是高市盈率还是低市盈率。
Is Yunding TechnologyLtd Making Efficient Use Of Its Profits?
云鼎科技是否在有效利用其利润？
Given that Yunding TechnologyLtd doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鉴于云鼎科技有限公司不向其股东支付任何定期股息，我们推断该公司一直在将其所有利润再投资以发展其业务。
Conclusion
结论
Overall, we feel that Yunding TechnologyLtd certainly does have some positive factors to consider. Despite its low rate of return, the fact that the company reinvests a very high portion of its profits into its business, no doubt contributed to its high earnings growth.
总的来说，我们认为云鼎科技确实有一些积极的因素需要考虑。尽管回报率很低，但该公司将其利润的很大一部分再投资于业务这一事实无疑促进了其高收益增长。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论，我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议，也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意，我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之，华尔街没有持有任何上述股票的头寸。