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Xinjiang Joinworld (SHSE:600888) Strong Profits May Be Masking Some Underlying Issues

Xinjiang Joinworld (SHSE:600888) Strong Profits May Be Masking Some Underlying Issues

新疆衆和(上海證券交易所代碼:600888)的強勁利潤可能掩蓋了一些潛在問題
Simply Wall St ·  03/30 08:10

Xinjiang Joinworld Co., Ltd.'s (SHSE:600888) robust recent earnings didn't do much to move the stock. We believe that shareholders have noticed some concerning factors beyond the statutory profit numbers.

新疆九和實業有限公司's(上海證券交易所代碼:600888)近期強勁的收益並沒有對該股產生太大影響。我們認爲,股東們已經注意到法定利潤數字之外的一些令人擔憂的因素。

earnings-and-revenue-history
SHSE:600888 Earnings and Revenue History March 30th 2024
SHSE: 600888 收益和收入歷史記錄 2024 年 3 月 30 日

How Do Unusual Items Influence Profit?

不尋常的物品如何影響利潤?

For anyone who wants to understand Xinjiang Joinworld's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit gained from CN¥160m worth of unusual items. We can't deny that higher profits generally leave us optimistic, but we'd prefer it if the profit were to be sustainable. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And, after all, that's exactly what the accounting terminology implies. We can see that Xinjiang Joinworld's positive unusual items were quite significant relative to its profit in the year to December 2023. All else being equal, this would likely have the effect of making the statutory profit a poor guide to underlying earnings power.

對於任何想了解新疆Joinworld在法定數字之外的利潤的人來說,值得注意的是,在過去的十二個月中,從價值1.6億元人民幣的不尋常物品中獲得了法定利潤。我們不能否認更高的利潤通常會讓我們感到樂觀,但如果利潤是可持續的,我們更願意這樣做。當我們計算數千家上市公司的數字時,我們發現,特定年份中不尋常的項目所帶來的提振通常不會在第二年重演。而且,畢竟,這正是會計術語的含義。我們可以看到,相對於截至2023年12月的一年中,新疆Joinworld的正面不尋常項目相對於其利潤相當可觀。在其他條件相同的情況下,這可能會使法定利潤成爲衡量潛在盈利能力的不良指導。

That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.

這可能會讓你想知道分析師對未來盈利能力的預測。幸運的是,您可以單擊此處查看根據他們的估計描繪未來盈利能力的交互式圖表。

Our Take On Xinjiang Joinworld's Profit Performance

我們對新疆 Joinworld 盈利表現的看法

As previously mentioned, Xinjiang Joinworld's large boost from unusual items won't be there indefinitely, so its statutory earnings are probably a poor guide to its underlying profitability. As a result, we think it may well be the case that Xinjiang Joinworld's underlying earnings power is lower than its statutory profit. But on the bright side, its earnings per share have grown at an extremely impressive rate over the last three years. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. With this in mind, we wouldn't consider investing in a stock unless we had a thorough understanding of the risks. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of Xinjiang Joinworld.

如前所述,新疆Joinworld不會無限期地從不尋常項目中獲得巨大提振,因此其法定收益可能無法指導其潛在盈利能力。因此,我們認爲新疆Joinworld的潛在盈利能力很可能低於其法定利潤。但好的一面是,其每股收益在過去三年中以極其驚人的速度增長。本文的目標是評估我們在多大程度上可以依靠法定收益來反映公司的潛力,但還有很多需要考慮的地方。考慮到這一點,除非我們對風險有透徹的了解,否則我們不會考慮投資股票。例如,我們發現了 1 個警告標誌,爲了更好地了解新疆 Joinworld,你應該把視線移過去。

Today we've zoomed in on a single data point to better understand the nature of Xinjiang Joinworld's profit. But there are plenty of other ways to inform your opinion of a company. Some people consider a high return on equity to be a good sign of a quality business. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.

今天,我們放大了單個數據點,以更好地了解新疆Joinworld利潤的性質。但是,還有很多其他方法可以讓你對公司的看法。有些人認爲高股本回報率是優質業務的好兆頭。因此,你可能希望看到這份免費收藏的擁有高股本回報率的公司,或者這份內部人士正在購買的股票清單。

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。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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