Narnia (Hong Kong) Group Company Limited's (HKG:8607) 26% Dip In Price Shows Sentiment Is Matching Revenues
Narnia (Hong Kong) Group Company Limited's (HKG:8607) 26% Dip In Price Shows Sentiment Is Matching Revenues
To the annoyance of some shareholders, Narnia (Hong Kong) Group Company Limited (HKG:8607) shares are down a considerable 26% in the last month, which continues a horrid run for the company. For any long-term shareholders, the last month ends a year to forget by locking in a 92% share price decline.
令一些股東感到煩惱的是，納尼亞（香港）集團有限公司（HKG: 8607）的股價在上個月下跌了26％，這延續了該公司的糟糕表現。對於任何長期股東來說，最後一個月的股價下跌幅度爲92％，從而結束了令人難忘的一年。
Following the heavy fall in price, considering around half the companies operating in Hong Kong's Luxury industry have price-to-sales ratios (or "P/S") above 0.6x, you may consider Narnia (Hong Kong) Group as an solid investment opportunity with its 0.1x P/S ratio. However, the P/S might be low for a reason and it requires further investigation to determine if it's justified.
在價格大幅下跌之後，考慮到在香港奢侈品行業運營的公司中約有一半的市銷率（或 “市銷率”）高於0.6倍，您可以將納尼亞（香港）集團作爲穩健的投資機會，其市銷率爲0.1倍。但是，市銷率低可能是有原因的，需要進一步調查以確定其是否合理。
SEHK:8607 Price to Sales Ratio vs Industry March 27th 2024
SEHK: 8607 2024 年 3 月 27 日與行業的股價銷售比率
How Has Narnia (Hong Kong) Group Performed Recently?
納尼亞（香港）集團最近的表現如何？
For example, consider that Narnia (Hong Kong) Group's financial performance has been poor lately as its revenue has been in decline. One possibility is that the P/S is low because investors think the company won't do enough to avoid underperforming the broader industry in the near future. Those who are bullish on Narnia (Hong Kong) Group will be hoping that this isn't the case so that they can pick up the stock at a lower valuation.
例如，假設納尼亞（香港）集團最近由於收入下降而財務表現不佳。一種可能性是市銷率很低，因爲投資者認爲公司在不久的將來在避免整個行業表現不佳方面做得還不夠。那些看好納尼亞（香港）集團的人希望情況並非如此，這樣他們就可以以較低的估值買入該股。
Although there are no analyst estimates available for Narnia (Hong Kong) Group, take a look at this free data-rich visualisation to see how the company stacks up on earnings, revenue and cash flow.
儘管沒有分析師對納尼亞（香港）集團的估計，但看看這個免費的數據豐富的可視化工具，看看該公司的收益、收入和現金流是如何積累的。
How Is Narnia (Hong Kong) Group's Revenue Growth Trending?
納尼亞（香港）集團的收入增長趨勢如何？
Narnia (Hong Kong) Group's P/S ratio would be typical for a company that's only expected to deliver limited growth, and importantly, perform worse than the industry.
納尼亞（香港）集團的市銷率對於一家預計增長有限，而且重要的是表現不如行業的公司來說是典型的。
Taking a look back first, the company's revenue growth last year wasn't something to get excited about as it posted a disappointing decline of 36%. This means it has also seen a slide in revenue over the longer-term as revenue is down 21% in total over the last three years. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.
首先回顧一下，該公司去年的收入增長並不令人興奮，因爲它公佈了令人失望的36％的跌幅。這意味着從長遠來看，其收入也有所下滑，因爲在過去三年中，總收入下降了21％。因此，股東會對中期收入增長率感到悲觀。
In contrast to the company, the rest of the industry is expected to grow by 12% over the next year, which really puts the company's recent medium-term revenue decline into perspective.
與該公司形成鮮明對比的是，該行業的其他部門預計將在明年增長12％，這確實可以預見該公司最近的中期收入下降。
With this information, we are not surprised that Narnia (Hong Kong) Group is trading at a P/S lower than the industry. However, we think shrinking revenues are unlikely to lead to a stable P/S over the longer term, which could set up shareholders for future disappointment. Even just maintaining these prices could be difficult to achieve as recent revenue trends are already weighing down the shares.
有了這些信息，納尼亞（香港）集團的市銷售率低於該行業也就不足爲奇了。但是，我們認爲，從長遠來看，收入萎縮不太可能導致市銷率穩定，這可能會使股東爲未來的失望做好準備。即使僅僅維持這些價格也可能難以實現，因爲最近的收入趨勢已經壓低了股價。
What Does Narnia (Hong Kong) Group's P/S Mean For Investors?
納尼亞（香港）集團的市銷率對投資者意味着什麼？
Narnia (Hong Kong) Group's P/S has taken a dip along with its share price. Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
納尼亞（香港）集團的市銷率與股價一起下跌。通常，在做出投資決策時，我們謹慎行事，不要過多地考慮市售比率，儘管這可以揭示其他市場參與者對公司的看法。
It's no surprise that Narnia (Hong Kong) Group maintains its low P/S off the back of its sliding revenue over the medium-term. At this stage investors feel the potential for an improvement in revenue isn't great enough to justify a higher P/S ratio. Unless the recent medium-term conditions improve, they will continue to form a barrier for the share price around these levels.
納尼亞（香港）集團由於中期收入下滑而維持低市銷率也就不足爲奇了。在現階段，投資者認爲，收入改善的可能性不足以證明更高的市銷率是合理的。除非最近的中期狀況有所改善，否則它們將繼續構成股價在這些水平附近的障礙。
We don't want to rain on the parade too much, but we did also find 2 warning signs for Narnia (Hong Kong) Group that you need to be mindful of.
我們不想在遊行隊伍中下太多雨，但我們也確實發現了納尼亞（香港）集團的兩個警告標誌，你需要注意。
Of course, profitable companies with a history of great earnings growth are generally safer bets. So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly.
當然，具有良好收益增長曆史的盈利公司通常是更安全的選擇。因此，您可能希望看到這些免費收集的市盈率合理且收益增長強勁的其他公司。
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