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Dexin China Holdings (HKG:2019) Sheds CN¥432m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Three Years
Dexin China Holdings (HKG:2019) Sheds CN¥432m, Company Earnings and Investor Returns Have Been Trending Downwards for Past Three Years
For many investors, the main point of stock picking is to generate higher returns than the overall market. But in any portfolio, there are likely to be some stocks that fall short of that benchmark. We regret to report that long term Dexin China Holdings Company Limited (HKG:2019) shareholders have had that experience, with the share price dropping 44% in three years, versus a market decline of about 2.4%. And the ride hasn't got any smoother in recent times over the last year, with the price 36% lower in that time. The falls have accelerated recently, with the share price down 36% in the last three months. This could be related to the recent financial results - you can catch up on the most recent data by reading our company report.
Since Dexin China Holdings has shed CN¥432m from its value in the past 7 days, let's see if the longer term decline has been driven by the business' economics.
See our latest analysis for Dexin China Holdings
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 imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
During the three years that the share price fell, Dexin China Holdings' earnings per share (EPS) dropped by 24% each year. In comparison the 17% compound annual share price decline isn't as bad as the EPS drop-off. So the market may not be too worried about the EPS figure, at the moment -- or it may have previously priced some of the drop in.
The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).
SEHK:2019 Earnings Per Share Growth September 21st 2022It might be well worthwhile taking a look at our free report on Dexin China Holdings' earnings, revenue and cash flow.
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. We note that for Dexin China Holdings the TSR over the last 3 years was -35%, which is better than the share price return mentioned above. This is largely a result of its dividend payments!
A Different Perspective
The last twelve months weren't great for Dexin China Holdings shares, which performed worse than the market, costing holders 33%, including dividends. Meanwhile, the broader market slid about 19%, likely weighing on the stock. Shareholders have lost 10% per year over the last three years, so the share price drop has become steeper, over the last year; a potential symptom of as yet unsolved challenges. We would be wary of buying into a company with unsolved problems, although some investors will buy into struggling stocks if they believe the price is sufficiently attractive. It's always interesting to track share price performance over the longer term. But to understand Dexin China Holdings better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. We've identified 3 warning signs with Dexin China Holdings (at least 1 which doesn't sit too well with us) , and understanding them should be part of your investment process.
We will like Dexin China Holdings better if we see some big insider buys. While we wait, check out this free list of growing companies with considerable, recent, insider buying.
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.
對於許多投資者來説,選股的主要着眼點是產生高於整體市場的回報。但在任何投資組合中,都可能會有一些股票沒有達到這一基準。我們很遺憾地報告這一長期的德信中國控股有限公司(HKG:2019)股東有過這樣的經歷,股價在三年內下跌了44%,而市場跌幅約為2.4%。在過去的一年裏,這一過程並沒有變得更順利,價格在這段時間裏下降了36%。股價最近加速下跌,在過去三個月裏下跌了36%。這可能與最近的財務業績有關-您可以通過閲讀我們的公司報告來了解最新的數據。
由於德信中國控股在過去7天裏市值縮水4.32億元人民幣,讓我們看看長期下跌是否受到了企業經濟的推動。
查看我們對德信中國控股的最新分析
雖然有效市場假説繼續被一些人傳授,但事實證明,市場是過度反應的動態系統,投資者並不總是理性的。一種不完美但簡單的方法來考慮市場對一家公司的看法是如何改變的,那就是將每股收益(EPS)的變化與股價走勢進行比較。
在股價下跌的三年裏,德信中國控股的每股收益(EPS)每年下降24%。相比之下,17%的年複合股價跌幅沒有每股收益下跌那麼嚴重。因此,目前市場可能並不太擔心每股收益的數字--或者它之前可能已經計入了部分降幅。
該公司的每股收益(在一段時間內)如下圖所示(點擊查看具體數字)。
聯交所:2019年9月21日每股收益增長也許很值得一看我們的免費德信中國控股的收益、收入和現金流報告。
那股息呢?
除了衡量股價回報外,投資者還應考慮總股東回報(TSR)。TSR是一種回報計算,計入了現金股息的價值(假設收到的任何股息都進行了再投資),以及任何貼現融資和剝離的計算價值。可以説,TSR更全面地描繪了一隻股票產生的回報。我們注意到,德信中國控股過去3年的總回報率為-35%,好於上面提到的股價回報率。這在很大程度上是其股息支付的結果!
不同的視角
過去12個月對德信中國控股的股票來説並不好,該股的表現遜於大盤,持股者損失了33%,其中包括股息。與此同時,大盤下跌約19%,可能令該股承壓。股東在過去三年裏每年損失10%,因此股價在過去一年裏跌幅變得更大;這是尚未解決的挑戰的潛在症狀。我們會對買入一家問題尚未解決的公司持謹慎態度,儘管一些投資者如果認為價格足夠有吸引力,就會買入陷入困境的股票。跟蹤股價的長期表現總是很有趣的。但要更好地瞭解德信中國控股,我們還需要考慮許多其他因素。例如,考慮一下無處不在的投資風險幽靈。我們已經確定了三個警告信號與德信中國控股(至少1家,我們不太滿意),瞭解他們應該是你投資過程的一部分。
如果我們看到一些大的內部收購,我們會更喜歡德信中國控股。在我們等待的時候,看看這個免費最近有大量內幕收購的成長型公司名單。
請注意,本文引用的市場回報反映了目前在香港交易所交易的股票的市場加權平均回報。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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., 是關聯公司。
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