Are Inmyshow Digital Technology(Group)Co.,Ltd.'s (SHSE:600556) Mixed Financials Driving The Negative Sentiment?
Are Inmyshow Digital Technology(Group)Co.,Ltd.'s (SHSE:600556) Mixed Financials Driving The Negative Sentiment?
With its stock down 17% over the past three months, it is easy to disregard Inmyshow Digital Technology(Group)Co.Ltd (SHSE:600556). It is possible that the markets have ignored the company's differing financials and decided to lean-in to the negative sentiment. Long-term fundamentals are usually what drive market outcomes, so it's worth paying close attention. Particularly, we will be paying attention to Inmyshow Digital Technology(Group)Co.Ltd's ROE today.
Inmyshow数字科技（集团）有限公司（上海证券交易所股票代码：600556）的股票在过去三个月中下跌了17％，很容易被忽视。市场可能忽视了该公司不同的财务状况，决定倾向于负面情绪。长期基本面通常是推动市场结果的因素，因此值得密切关注。特别是，我们今天将关注Inmyshow数字科技（集团）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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
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，投资回报率显示了每美元从其股东投资中产生的利润。
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 Inmyshow Digital Technology(Group)Co.Ltd is:
因此，根据上述公式，Inmyshow数字科技（集团）有限公司的投资回报率为：
2.0% = CN¥76m ÷ CN¥3.8b (Based on the trailing twelve months to September 2023).
2.0% = 7600万元人民币 ÷ 38亿元人民币（基于截至2023年9月的过去十二个月）。
The 'return' is the amount earned after tax over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.02.
“申报表” 是过去十二个月的税后收入金额。因此，这意味着其股东每投资1元人民币，公司就会产生0.02元人民币的利润。
Why Is ROE Important For Earnings Growth?
为什么投资回报率对收益增长很重要？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. Depending on how much of these profits the company reinvests or "retains", and how effectively it does so, we are then able to assess a company's earnings growth potential. 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.
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。然后，我们能够评估公司的收益增长潜力，具体取决于公司对这些利润进行再投资或 “保留” 了多少及其有效性。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。
Inmyshow Digital Technology(Group)Co.Ltd's Earnings Growth And 2.0% ROE
Inmyshow 数字科技（集团）有限公司的收益增长和 2.0% 的投资回报率
It is quite clear that Inmyshow Digital Technology(Group)Co.Ltd's ROE is rather low. Even compared to the average industry ROE of 6.1%, the company's ROE is quite dismal. Therefore, it might not be wrong to say that the five year net income decline of 10% seen by Inmyshow Digital Technology(Group)Co.Ltd was possibly a result of it having a lower ROE. However, there could also be other factors causing the earnings to decline. For example, the business has allocated capital poorly, or that the company has a very high payout ratio.
很明显，Inmyshow数字科技（集团）有限公司的投资回报率相当低。即使与6.1％的行业平均投资回报率相比，该公司的投资回报率也相当惨淡。因此，说Inmyshow数字科技（集团）有限公司五年净收入下降10％可能是其投资回报率下降的结果，这可能没有错。但是，也可能有其他因素导致收益下降。例如，该企业的资本分配不佳，或者该公司的派息率非常高。
However, when we compared Inmyshow Digital Technology(Group)Co.Ltd's growth with the industry we found that while the company's earnings have been shrinking, the industry has seen an earnings growth of 2.2% in the same period. This is quite worrisome.
但是，当我们将Inmyshow数字科技（集团）有限公司的增长与该行业的增长进行比较时，我们发现，尽管该公司的收益一直在萎缩，但该行业同期的收益增长了2.2％。这非常令人担忧。
The basis for attaching value to a company is, to a great extent, tied to its earnings growth. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). Doing so will help them establish if the stock's future looks promising or ominous. Is 600556 fairly valued? This infographic on the company's intrinsic value has everything you need to know.
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。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。这样做将帮助他们确定股票的未来是乐观还是不祥的。600556 估值合理吗？这张关于公司内在价值的信息图包含了你需要知道的一切。
Is Inmyshow Digital Technology(Group)Co.Ltd Using Its Retained Earnings Effectively?
Inmyshow 数字科技（集团）有限公司是否在有效使用其留存收益？
Inmyshow Digital Technology(Group)Co.Ltd's low three-year median payout ratio of 10.0% (implying that it retains the remaining 90% of its profits) comes as a surprise when you pair it with the shrinking earnings. This typically shouldn't be the case when a company is retaining most of its earnings. So there could be some other explanations in that regard. For example, the company's business may be deteriorating.
Inmyshow Digital Technology（集团）有限公司的三年低派息率中位数为10.0％（这意味着它保留了剩余的90％的利润），这与不断萎缩的收益相结合，这真是令人惊讶。当公司保留大部分收益时，通常不应出现这种情况。因此，在这方面可能还有其他解释。例如，公司的业务可能正在恶化。
Additionally, Inmyshow Digital Technology(Group)Co.Ltd has paid dividends over a period of four years, which means that the company's management is rather focused on keeping up its dividend payments, regardless of the shrinking earnings.
此外，Inmyshow Digital Technology（集团）有限公司已在四年内派发了股息，这意味着无论收益如何萎缩，该公司的管理层都相当专注于维持股息支付。
Summary
摘要
Overall, we have mixed feelings about Inmyshow Digital Technology(Group)Co.Ltd. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. With that said, we studied the latest analyst forecasts and found that while the company has shrunk its earnings in the past, analysts expect its earnings to grow in the future. Are these analysts expectations based on the broad expectations for the industry, or on the company's fundamentals? Click here to be taken to our analyst's forecasts page for the company.
总体而言，我们对Inmyshow Digital Technology（集团）有限公司的看法喜忧参半。尽管该公司的利润保留率确实很高，但其低回报率可能会阻碍其收益增长。话虽如此，我们研究了分析师的最新预测，发现尽管该公司过去曾缩减收益，但分析师预计其未来收益将增长。这些分析师的预期是基于对该行业的广泛预期，还是基于公司的基本面？点击此处进入我们分析师对公司的预测页面。
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