Zhejiang Sunoren Solar Technology Co.,Ltd. (SHSE:603105) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
Zhejiang Sunoren Solar Technology Co.,Ltd. (SHSE:603105) Stock Has Shown Weakness Lately But Financials Look Strong: Should Prospective Shareholders Make The Leap?
With its stock down 20% over the past three months, it is easy to disregard Zhejiang Sunoren Solar TechnologyLtd (SHSE:603105). However, a closer look at its sound financials might cause you to think again. Given that fundamentals usually drive long-term market outcomes, the company is worth looking at. Particularly, we will be paying attention to Zhejiang Sunoren Solar TechnologyLtd's ROE today.
由於其股票在過去三個月中下跌了20％，人們很容易忽視浙江聖諾倫太陽能技術有限公司（上海證券交易所代碼：603105）。但是，仔細觀察其良好的財務狀況可能會讓你重新考慮。鑑於基本面通常會推動長期市場業績，該公司值得關注。特別是，我們今天將關注浙江信潤太陽能科技有限公司的投資回報率。
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 short, ROE shows the profit each dollar generates with respect to its shareholder investments.
股本回報率或投資回報率是股東需要考慮的重要因素，因爲它可以告訴他們資本再投資的有效性。簡而言之，投資回報率顯示了每美元從其股東投資中產生的利潤。
How Is ROE Calculated?
ROE 是如何計算的？
ROE can be calculated by using the formula:
ROE 可以通過以下公式計算：
Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity
股本回報率 = 淨利潤（來自持續經營業務）÷ 股東權益
So, based on the above formula, the ROE for Zhejiang Sunoren Solar TechnologyLtd is:
因此，根據上述公式，浙江信潤太陽能科技有限公司的投資回報率爲：
11% = CN¥216m ÷ CN¥1.9b (Based on the trailing twelve months to September 2023).
11% = 2.16億元人民幣 ÷ 19億元人民幣（基於截至2023年9月的過去十二個月）。
The 'return' is the yearly profit. One way to conceptualize this is that for each CN¥1 of shareholders' capital it has, the company made CN¥0.11 in profit.
“回報” 是每年的利潤。對此進行概念化的一種方法是，該公司每擁有1元人民幣的股本即可獲得0.11元人民幣的利潤。
What Is The Relationship Between ROE And Earnings Growth?
投資回報率與收益增長之間有什麼關係？
Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. 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.
到目前爲止，我們已經了解到，投資回報率衡量的是公司創造利潤的效率。根據公司選擇將多少利潤進行再投資或 “保留”，我們便能夠評估公司未來創造利潤的能力。一般而言，在其他條件相同的情況下，股本回報率和利潤留存率高的公司的增長率要高於不具有這些屬性的公司。
A Side By Side comparison of Zhejiang Sunoren Solar TechnologyLtd's Earnings Growth And 11% ROE
浙江信潤太陽能科技有限公司的收益增長和11％的投資回報率的並排比較
At first glance, Zhejiang Sunoren Solar TechnologyLtd seems to have a decent ROE. On comparing with the average industry ROE of 6.2% the company's ROE looks pretty remarkable. Probably as a result of this, Zhejiang Sunoren Solar TechnologyLtd was able to see an impressive net income growth of 30% over the last five years. We reckon that there could also be other factors at play here. For example, it is possible that the company's management has made some good strategic decisions, or that the company has a low payout ratio.
乍一看，浙江信潤太陽能科技有限公司的投資回報率似乎不錯。與6.2％的行業平均投資回報率相比，該公司的投資回報率看起來相當可觀。可能正因爲如此，浙江信潤太陽能科技有限公司得以在過去五年中實現了令人印象深刻的30％的淨收入增長。我們認爲，這裏可能還有其他因素在起作用。例如，公司的管理層可能做出了一些良好的戰略決策，或者公司的派息率很低。
As a next step, we compared Zhejiang Sunoren Solar TechnologyLtd's net income growth with the industry and found that the company has a similar growth figure when compared with the industry average growth rate of 26% in the same period.
下一步，我們將浙江信潤太陽能科技有限公司的淨收入增長與該行業進行了比較，發現與同期26％的行業平均增長率相比，該公司的增長數字相似。
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). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is Zhejiang Sunoren Solar TechnologyLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
爲公司附加價值的基礎在很大程度上與其收益增長息息相關。對於投資者來說，重要的是要知道市場是否對公司的預期收益增長（或下降）進行了定價。通過這樣做，他們將知道股票是走向清澈的藍色海水還是沼澤水域在等着呢。與其他公司相比，浙江信潤太陽能科技有限公司的估值是否合理？這3種估值指標可能會幫助您做出決定。
Is Zhejiang Sunoren Solar TechnologyLtd Using Its Retained Earnings Effectively?
浙江信潤太陽能科技有限公司是否在有效使用其留存收益？
Zhejiang Sunoren Solar TechnologyLtd has a three-year median payout ratio of 29% (where it is retaining 71% of its income) which is not too low or not too high. This suggests that its dividend is well covered, and given the high growth we discussed above, it looks like Zhejiang Sunoren Solar TechnologyLtd is reinvesting its earnings efficiently.
浙江信潤太陽能科技有限公司的三年派息率中位數爲29％（保留收入的71％），不太低或不太高。這表明其股息覆蓋範圍良好，鑑於我們上面討論的高增長，看來浙江信潤太陽能科技有限公司正在有效地對其收益進行再投資。
Besides, Zhejiang Sunoren Solar TechnologyLtd has been paying dividends over a period of five years. This shows that the company is committed to sharing profits with its shareholders. Looking at the current analyst consensus data, we can see that the company's future payout ratio is expected to rise to 40% over the next three years. However, Zhejiang Sunoren Solar TechnologyLtd's future ROE is expected to rise to 16% despite the expected increase in the company's payout ratio. We infer that there could be other factors that could be driving the anticipated growth in the company's ROE.
此外，浙江信潤太陽能科技有限公司已經在五年內派發了股息。這表明該公司致力於與股東分享利潤。從目前的分析師共識數據來看，我們可以看到，該公司的未來派息率預計將在未來三年內升至40％。但是，儘管預計浙江信潤太陽能科技有限公司的派息率將提高，但該公司的未來投資回報率預計將升至16％。我們推斷，可能還有其他因素可以推動公司投資回報率的預期增長。
Summary
摘要
On the whole, we feel that Zhejiang Sunoren Solar TechnologyLtd's performance has been quite good. Specifically, we like that the company is reinvesting a huge chunk of its profits at a high rate of return. This of course has caused the company to see substantial growth in its earnings. On studying current analyst estimates, we found that analysts expect the company to continue its recent growth streak. 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.
總的來說，我們覺得浙江信潤太陽能科技有限公司的表現相當不錯。具體而言，我們喜歡該公司以高回報率再投資其利潤的很大一部分。當然，這導致該公司的收益大幅增長。在研究分析師當前的估計時，我們發現分析師預計該公司將繼續保持最近的增長勢頭。要了解有關公司未來收益增長預測的更多信息，請查看這份關於分析師預測的免費報告，以了解更多信息。
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