Century Sunshine Group Holdings Limited's (HKG:509) 50% Price Boost Is Out Of Tune With Revenues
Century Sunshine Group Holdings Limited's (HKG:509) 50% Price Boost Is Out Of Tune With Revenues
Century Sunshine Group Holdings Limited (HKG:509) shareholders have had their patience rewarded with a 50% share price jump in the last month. While recent buyers may be laughing, long-term holders might not be as pleased since the recent gain only brings the stock back to where it started a year ago.
世纪阳光集团控股有限公司(HKG：509)股东的耐心得到了回报，股价在过去一个月上涨了50%。虽然最近的买家可能会笑，但长期持有者可能不会那么高兴，因为最近的上涨只是让股价回到了一年前的水平。
In spite of the firm bounce in price, there still wouldn't be many who think Century Sunshine Group Holdings' price-to-sales (or "P/S") ratio of 0.2x is worth a mention when the median P/S in Hong Kong's Chemicals industry is similar at about 0.4x. While this might not raise any eyebrows, if the P/S ratio is not justified investors could be missing out on a potential opportunity or ignoring looming disappointment.
尽管股价强劲反弹，但当香港化工行业的市盈率(P/S)中值约为0.4倍时，仍不会有很多人认为世纪阳光集团0.2倍的市售比(P/S)值得一提。尽管这可能不会令人惊讶，但如果P/S比率不合理，投资者可能会错过潜在的机会，或者忽视迫在眉睫的失望情绪。
Check out our latest analysis for Century Sunshine Group Holdings
查看我们对世纪阳光集团控股的最新分析
How Has Century Sunshine Group Holdings Performed Recently?
世纪阳光集团控股最近表现如何？
For instance, Century Sunshine Group Holdings' receding revenue in recent times would have to be some food for thought. It might be that many expect the company to put the disappointing revenue performance behind them over the coming period, which has kept the P/S from falling. If you like the company, you'd at least be hoping this is the case so that you could potentially pick up some stock while it's not quite in favour.
例如，世纪阳光集团控股公司近期营收下滑的情况就不得不引起一些思考。许多人可能预计，该公司在未来一段时间内将把令人失望的营收表现抛在脑后，这让市盈率/S指数没有下跌。如果你喜欢这家公司，你至少会希望情况是这样的，这样你就可以在它不太受欢迎的时候买入一些股票。
Is There Some Revenue Growth Forecasted For Century Sunshine Group Holdings?
世纪阳光集团控股的收入是否会有一些增长？
In order to justify its P/S ratio, Century Sunshine Group Holdings would need to produce growth that's similar to the industry.
为了证明其市盈率与S的比率是合理的，世纪阳光集团控股有限公司需要实现与该行业类似的增长。
Taking a look back first, the company's revenue growth last year wasn't something to get excited about as it posted a disappointing decline of 63%. This means it has also seen a slide in revenue over the longer-term as revenue is down 91% in total over the last three years. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.
首先回顾一下，该公司去年的收入增长并不令人兴奋，因为它公布了令人失望的63%的下降。这意味着它的长期收入也出现了下滑，因为过去三年的总收入下降了91%。因此，股东们会对中期营收增长率感到悲观。
In contrast to the company, the rest of the industry is expected to grow by 8.5% over the next year, which really puts the company's recent medium-term revenue decline into perspective.
与该公司形成鲜明对比的是，该行业其他业务预计明年将增长8.5%，这确实让人对该公司最近的中期收入下降有了正确的认识。
With this information, we find it concerning that Century Sunshine Group Holdings is trading at a fairly similar P/S compared to the industry. Apparently many investors in the company are way less bearish than recent times would indicate and aren't willing to let go of their stock right now. Only the boldest would assume these prices are sustainable as a continuation of recent revenue trends is likely to weigh on the share price eventually.
有了这些信息，我们发现世纪阳光集团控股的市盈率与行业相当接近S。显然，该公司的许多投资者并不像最近的情况所显示的那样悲观，他们现在不愿抛售自己的股票。只有最大胆的人才会认为这些价格是可持续的，因为最近收入趋势的延续最终可能会拖累股价。
The Bottom Line On Century Sunshine Group Holdings' P/S
世纪阳光集团控股的底线P/S
Century Sunshine Group Holdings appears to be back in favour with a solid price jump bringing its P/S back in line with other companies in the industry While the price-to-sales ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of revenue expectations.
世纪阳光集团控股有限公司似乎再次受到青睐，股价大幅上涨，使其市盈率与S的市盈率重回业内其他公司的水平，但市销率不应成为你是否买入一只股票的决定性因素，它是一个很好的收入预期晴雨表。
Our look at Century Sunshine Group Holdings revealed its shrinking revenues over the medium-term haven't impacted the P/S as much as we anticipated, given the industry is set to grow. When we see revenue heading backwards in the context of growing industry forecasts, it'd make sense to expect a possible share price decline on the horizon, sending the moderate P/S lower. If recent medium-term revenue trends continue, it will place shareholders' investments at risk and potential investors in danger of paying an unnecessary premium.
我们对世纪阳光集团控股有限公司的调查显示，考虑到该行业将会增长，其中期营收缩水对市盈率/S指数的影响并不像我们预期的那么大。当我们看到营收在行业预测不断增长的背景下回落时，我们有理由预计，股价可能会下跌，导致温和的市盈率/S指数走低。如果近期的中期营收趋势持续下去，将使股东的投资面临风险，潜在投资者面临支付不必要溢价的危险。
It is also worth noting that we have found 3 warning signs for Century Sunshine Group Holdings that you need to take into consideration.
同样值得注意的是，我们发现世纪阳光集团控股的3个警告信号这是你需要考虑的。
It's important to make sure you look for a great company, not just the first idea you come across. So if growing profitability aligns with your idea of a great company, take a peek at this free list of interesting companies with strong recent earnings growth (and a low P/E).
重要的是确保你寻找的是一家伟大的公司，而不仅仅是你遇到的第一个想法。因此，如果不断增长的盈利能力符合你对一家伟大公司的看法，不妨看看这一点免费近期收益增长强劲(市盈率较低)的有趣公司名单。
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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。