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Declining Stock and Solid Fundamentals: Is The Market Wrong About Chuzhou Duoli Automotive Technology Co., Ltd. (SZSE:001311)?

Declining Stock and Solid Fundamentals: Is The Market Wrong About Chuzhou Duoli Automotive Technology Co., Ltd. (SZSE:001311)?

股市下跌和基本面稳健:市场对滁州多利汽车科技股份有限公司(SZSE:001311)的看法错误吗?
Simply Wall St ·  02/09 17:01

Chuzhou Duoli Automotive Technology (SZSE:001311) has had a rough three months with its share price down 26%. However, stock prices are usually driven by a company's financial performance over the long term, which in this case looks quite promising. Particularly, we will be paying attention to Chuzhou Duoli Automotive Technology's ROE today.

滁州多利汽车科技(深圳证券交易所:001311)经历了艰难的三个月,其股价下跌了26%。但是,股票价格通常由公司的长期财务业绩驱动,在这种情况下,这看起来很有希望。特别是,我们今天将关注滁州多利汽车科技的投资回报率。

Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

股本回报率或投资回报率是股东需要考虑的重要因素,因为它可以告诉他们资本再投资的有效性。换句话说,它是衡量公司股东提供的资本回报率的盈利比率。

How To Calculate Return On Equity?

如何计算股本回报率?

Return on equity can be calculated by using the formula:

股本回报率可以使用以下公式计算:

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 Chuzhou Duoli Automotive Technology is:

因此,根据上述公式,滁州多利汽车科技的投资回报率为:

12% = CN¥518m ÷ CN¥4.2b (Based on the trailing twelve months to September 2023).

12% = 5.18亿元人民币 ÷ 42亿元人民币(基于截至2023年9月的过去十二个月)。

The 'return' is the income the business earned over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.12.

“回报” 是企业去年获得的收入。因此,这意味着其股东每投资1元人民币,公司就会产生0.12CN的利润。

What Is The Relationship Between ROE And Earnings Growth?

投资回报率与收益增长之间有什么关系?

Thus far, we have learned that ROE measures how efficiently a company is generating its profits. 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. Generally speaking, other things being equal, firms with a high return on equity and profit retention, have a higher growth rate than firms that don't share these attributes.

到目前为止,我们已经了解到,投资回报率衡量的是公司创造利润的效率。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。一般而言,在其他条件相同的情况下,股本回报率和利润留存率高的公司的增长率要高于不具有这些属性的公司。

A Side By Side comparison of Chuzhou Duoli Automotive Technology's Earnings Growth And 12% ROE

滁州多利汽车科技的收益增长和12%的投资回报率的并排比较

To start with, Chuzhou Duoli Automotive Technology's ROE looks acceptable. Further, the company's ROE compares quite favorably to the industry average of 7.3%. This probably laid the ground for Chuzhou Duoli Automotive Technology's significant 23% net income growth seen over the past five years. However, there could also be other causes behind this growth. Such as - high earnings retention or an efficient management in place.

首先,滁州多利汽车科技的投资回报率似乎可以接受。此外,该公司的投资回报率与行业平均水平的7.3%相比相当不错。这可能为滁州多利汽车科技在过去五年中实现23%的显著净收入增长奠定了基础。但是,这种增长背后可能还有其他原因。例如——高收益留存率或实行高效管理。

We then compared Chuzhou Duoli Automotive Technology'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 3.8% in the same 5-year period.

然后,我们将滁州多利汽车科技的净收入增长与该行业进行了比较,我们很高兴地看到,与5年同期增长率为3.8%的行业相比,该公司的增长数字更高。

past-earnings-growth
SZSE:001311 Past Earnings Growth February 9th 2024
SZSE: 001311 过去的收益增长 2024 年 2 月 9 日

The basis for attaching value to a company is, to a great extent, tied to its earnings growth. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. 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 Chuzhou Duoli Automotive Technology is trading on a high P/E or a low P/E, relative to its industry.

为公司附加价值的基础在很大程度上与其收益增长息息相关。投资者接下来需要确定的是,预期的收益增长或缺乏收益是否已经包含在股价中。这样做将帮助他们确定股票的未来是乐观还是不祥的。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,您可能需要检查一下滁州多利汽车科技相对于该行业的市盈率是高还是低。

Is Chuzhou Duoli Automotive Technology Efficiently Re-investing Its Profits?

滁州多利汽车科技是否有效地将利润再投资?

Chuzhou Duoli Automotive Technology has a really low three-year median payout ratio of 17%, meaning that it has the remaining 83% left over to reinvest into its business. This suggests that the management is reinvesting most of the profits to grow the business as evidenced by the growth seen by the company.

滁州多利汽车科技的三年中位数派息率非常低,为17%,这意味着其余的83%可以再投资于其业务。这表明管理层正在将大部分利润再投资于业务增长,公司的增长就证明了这一点。

While Chuzhou Duoli Automotive Technology has seen growth in its earnings, it only recently started to pay a dividend. It is most likely that the company decided to impress new and existing shareholders with a dividend.

尽管滁州多利汽车科技的收益有所增长,但直到最近才开始派息。该公司很可能决定通过分红给新老股东留下深刻的印象。

Conclusion

结论

On the whole, we feel that Chuzhou Duoli Automotive Technology's performance has been quite good. In particular, it's great to see that the company is investing heavily into its business and along with a high rate of return, that has resulted in a sizeable growth in its earnings. The latest industry analyst forecasts show that the company is expected to maintain its current growth rate. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more.

总的来说,我们觉得滁州多利汽车科技的表现相当不错。特别是,很高兴看到该公司正在对其业务进行大量投资,再加上高回报率,这为其收益带来了可观的增长。最新的行业分析师预测显示,预计该公司将保持目前的增长率。要了解有关公司未来收益增长预测的更多信息,请查看这份关于分析师预测的免费报告,以了解更多信息。

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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.

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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。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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