Does The Market Have A Low Tolerance For Shanghai Kaytune Industrial Co.,Ltd's (SZSE:301001) Mixed Fundamentals?
Does The Market Have A Low Tolerance For Shanghai Kaytune Industrial Co.,Ltd's (SZSE:301001) Mixed Fundamentals?
It is hard to get excited after looking at Shanghai Kaytune IndustrialLtd's (SZSE:301001) recent performance, when its stock has declined 32% over the past month. 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. Specifically, we decided to study Shanghai Kaytune IndustrialLtd's ROE in this article.
看到上海凯腾实业股份有限公司(SZSE：301001)最近的表现，很难感到兴奋，其股价在过去一个月里下跌了32%。市场可能忽视了该公司不同的财务状况，决定向负面情绪倾斜。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。具体地说，我们决定在本文中研究上海凯腾实业有限公司的净资产收益率。
ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. Simply put, it is used to assess the profitability of a company in relation to its equity capital.
净资产收益率，即股本回报率，是评估一家公司从股东那里获得投资回报的有效程度的有用工具。简而言之，它是用来评估一家公司相对于其权益资本的盈利能力。
See our latest analysis for Shanghai Kaytune IndustrialLtd
查看我们对上海凯腾实业有限公司的最新分析
How Is ROE Calculated?
净资产收益率是如何计算的？
The formula for return on equity is:
这个股本回报率公式是：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回报率=(持续经营的)净利润？股东权益
So, based on the above formula, the ROE for Shanghai Kaytune IndustrialLtd is:
因此，根据上述公式，上海凯腾实业有限公司的净资产收益率为：
3.0% = CN¥25m ÷ CN¥824m (Based on the trailing twelve months to March 2022).
3.0%=2500万元×8.24亿元(以截至2022年3月的12个月为基础)。
The 'return' is the profit over the last twelve months. That means that for every CN¥1 worth of shareholders' equity, the company generated CN¥0.03 in profit.
“收益”是过去12个月的利润。这意味着，股东权益每增加1元，公司就会产生0.03元的利润。
Why Is ROE Important For Earnings Growth?
为什么净资产收益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. 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. Assuming everything else remains unchanged, the higher the ROE and profit retention, the higher the growth rate of a company compared to companies that don't necessarily bear these characteristics.
我们已经证实，净资产收益率是一家公司未来收益的有效盈利指标。我们现在需要评估公司将多少利润再投资或“保留”用于未来的增长，这就让我们对公司的增长潜力有了一个了解。假设其他条件不变，净资产收益率和利润保留率越高，与不一定具有这些特征的公司相比，公司的增长率就越高。
Shanghai Kaytune IndustrialLtd's Earnings Growth And 3.0% ROE
上海凯腾实业盈利增长3.0%净资产收益率
It is quite clear that Shanghai Kaytune IndustrialLtd's ROE is rather low. Even compared to the average industry ROE of 6.4%, the company's ROE is quite dismal. As a result, Shanghai Kaytune IndustrialLtd's flat earnings over the past five years doesn't come as a surprise given its lower ROE.
很明显，上海凯腾实业有限公司的净资产收益率(ROE)相当低。即使与6.4%的行业平均净资产收益率相比，该公司的净资产收益率也相当惨淡。因此，上海凯腾实业股份有限公司过去五年的收益持平并不令人意外，因为它的净资产收益率较低。
We then compared Shanghai Kaytune IndustrialLtd's net income growth with the industry and found that the average industry growth rate was 18% in the same period.
然后，我们将上海凯腾实业有限公司的净收入增长与行业进行了比较，发现同期行业的平均增长率为18%。
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). This then helps them determine if the stock is placed for a bright or bleak future. 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 Shanghai Kaytune IndustrialLtd is trading on a high P/E or a low P/E, relative to its industry.
赋予一家公司价值的基础在很大程度上与其盈利增长挂钩。对于投资者来说，重要的是知道市场是否已经消化了公司预期的收益增长(或下降)。这有助于他们确定这只股票是为光明还是黯淡的未来做准备。衡量预期收益增长的一个很好的指标是市盈率，它根据一只股票的盈利前景决定市场愿意为其支付的价格。因此，你可能想看看上海凯腾实业有限公司相对于其行业是高市盈率还是低市盈率。
Is Shanghai Kaytune IndustrialLtd Efficiently Re-investing Its Profits?
上海凯腾实业有限公司是否有效地将其利润进行了再投资？
While the company did pay out a portion of its dividend in the past, it currently doesn't pay a dividend. We infer that the company has been reinvesting all of its profits to grow its business.
虽然该公司过去确实支付了一部分股息，但目前不支付股息。我们推断，该公司一直在将所有利润进行再投资，以发展业务。
Summary
摘要
On the whole, we feel that the performance shown by Shanghai Kaytune IndustrialLtd can be open to many interpretations. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. So far, we've only made a quick discussion around the company's earnings growth. So it may be worth checking this free detailed graph of Shanghai Kaytune IndustrialLtd's past earnings, as well as revenue and cash flows to get a deeper insight into the company's performance.
总体而言，我们觉得上海凯腾实业有限公司的表现可以有多种解读。虽然该公司的利润留存率确实很高，但其低回报率可能正在阻碍其收益增长。到目前为止，我们只是围绕该公司的收益增长进行了简短的讨论。所以也许有必要检查一下免费上海凯腾实业有限公司过去的收益以及收入和现金流的详细图表，以更深入地了解公司的业绩。
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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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