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The Five-year Loss for China Traditional Chinese Medicine Holdings (HKG:570) Shareholders Likely Driven by Its Shrinking Earnings

The Five-year Loss for China Traditional Chinese Medicine Holdings (HKG:570) Shareholders Likely Driven by Its Shrinking Earnings

中國中藥控股(HKG: 570)股東的五年虧損可能是其收益萎縮所致
Simply Wall St ·  01/30 00:20

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. So we wouldn't blame long term China Traditional Chinese Medicine Holdings Co. Limited (HKG:570) shareholders for doubting their decision to hold, with the stock down 42% over a half decade. Even worse, it's down 21% in about a month, which isn't fun at all.

對於許多人來說,投資的要點是產生比整個市場更高的回報。但是在任何投資組合中,個股之間的結果都會好壞參半。因此,從長遠來看,我們不會責怪中國中藥控股有限公司Limited(HKG: 570)股東對他們的持股決定表示懷疑,該股在五年內下跌了42%。更糟糕的是,它在大約一個月內下降了21%,這一點都不好玩。

While the stock has risen 8.0% in the past week but long term shareholders are still in the red, let's see what the fundamentals can tell us.

儘管該股在過去一週上漲了8.0%,但長期股東仍處於虧損狀態,但讓我們看看基本面能告訴我們什麼。

See our latest analysis for China Traditional Chinese Medicine Holdings

查看我們對中國中藥控股的最新分析

While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. 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.

雖然市場是一種強大的定價機制,但股價反映了投資者的情緒,而不僅僅是潛在的業務表現。考慮市場對公司的看法發生了怎樣的變化的一種不完美但簡單的方法是將每股收益(EPS)的變化與股價走勢進行比較。

Looking back five years, both China Traditional Chinese Medicine Holdings' share price and EPS declined; the latter at a rate of 8.9% per year. This change in EPS is reasonably close to the 10% average annual decrease in the share price. That suggests that the market sentiment around the company hasn't changed much over that time. So it's fair to say the share price has been responding to changes in EPS.

回顧五年,中國中藥控股的股價和每股收益均有所下降;後者每年下降8.9%。每股收益的變化相當接近股價平均年下降10%。這表明,在那段時間內,公司周圍的市場情緒沒有太大變化。因此,可以公平地說,股價一直在應對每股收益的變化。

The graphic below depicts how EPS has changed over time (unveil the exact values by clicking on the image).

下圖描述了 EPS 隨着時間的推移是如何變化的(點擊圖片可以看到確切的值)。

earnings-per-share-growth
SEHK:570 Earnings Per Share Growth January 30th 2024
SEHK: 570 每股收益增長 2024 年 1 月 30 日

We're pleased to report that the CEO is remunerated more modestly than most CEOs at similarly capitalized companies. But while CEO remuneration is always worth checking, the really important question is whether the company can grow earnings going forward. Dive deeper into the earnings by checking this interactive graph of China Traditional Chinese Medicine Holdings' earnings, revenue and cash flow.

我們很高興地向大家報告,首席執行官的薪酬比資本相似公司的大多數首席執行官要低得多。但是,儘管首席執行官的薪酬總是值得檢查的,但真正重要的問題是公司未來能否增加收益。查看這張中國中藥控股收益、收入和現金流的互動圖表,深入了解收益。

What About Dividends?

分紅呢?

It is important to consider the total shareholder return, as well as the share price return, for any given stock. 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. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of China Traditional Chinese Medicine Holdings, it has a TSR of -37% 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!

重要的是要考慮任何給定股票的股東總回報率和股價回報率。股東總回報率是一種回報計算方法,它考慮了現金分紅的價值(假設收到的任何股息都經過再投資)以及任何貼現資本籌集和分拆的計算價值。可以公平地說,股東總回報率爲支付股息的股票提供了更完整的畫面。就中國中藥控股而言,其過去5年的股東回報率爲-37%。這超過了我們之前提到的其股價回報率。而且,猜測股息支付在很大程度上解釋了這種分歧是沒有好處的!

A Different Perspective

不同的視角

China Traditional Chinese Medicine Holdings shareholders are down 18% over twelve months (even including dividends), which isn't far from the market return of -17%. So last year was actually even worse than the last five years, which cost shareholders 6% per year. It will probably take a substantial improvement in the fundamental performance for the company to reverse this trend. It's always interesting to track share price performance over the longer term. But to understand China Traditional Chinese Medicine Holdings better, we need to consider many other factors. Even so, be aware that China Traditional Chinese Medicine Holdings is showing 1 warning sign in our investment analysis , you should know about...

中國中藥控股股東在十二個月內下跌了18%(甚至包括股息),與-17%的市場回報率相差不遠。因此,去年的情況實際上比過去五年還要糟糕,後者每年使股東損失6%。要扭轉這一趨勢,該公司的基本業績可能需要大幅改善。長期跟蹤股價表現總是很有意思的。但是,要更好地了解中國中藥控股,我們需要考慮許多其他因素。即便如此,請注意,中國中藥控股在我們的投資分析中顯示了1個警告信號,您應該知道...

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings.

當然,通過尋找其他地方,你可能會找到一筆不錯的投資。因此,請看一下我們預計收益將增加的這份免費公司名單。

Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.

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。

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.

對這篇文章有反饋嗎?對內容感到擔憂?直接聯繫我們。 或者,給編輯團隊 (at) simplywallst.com 發送電子郵件。
Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。

声明:本內容僅用作提供資訊及教育之目的,不構成對任何特定投資或投資策略的推薦或認可。 更多信息
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