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Will Weakness in Hangzhou Fortune Gas Cryogenic Group Co., Ltd.'s (SHSE:603173) Stock Prove Temporary Given Strong Fundamentals?

Will Weakness in Hangzhou Fortune Gas Cryogenic Group Co., Ltd.'s (SHSE:603173) Stock Prove Temporary Given Strong Fundamentals?

杭州富地氣體低溫集團有限公司會出現疲軟嗎?”鑑於基本面強勁,s(SHSE: 603173)股票被證明是暫時的?
Simply Wall St ·  04/17 07:52

Hangzhou Fortune Gas Cryogenic Group (SHSE:603173) has had a rough three months with its share price down 18%. 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 Hangzhou Fortune Gas Cryogenic Group's ROE today.

杭州富強燃氣低溫集團(上海證券交易所代碼:603173)經歷了艱難的三個月,其股價下跌了18%。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,因此該公司值得關注。特別是,我們今天將關注杭州富強燃氣低溫集團的投資回報率。

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 simpler terms, it measures the profitability of a company in relation to shareholder's equity.

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,它衡量公司相對於股東權益的盈利能力。

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 Hangzhou Fortune Gas Cryogenic Group is:

因此,根據上述公式,杭州富強氣體低溫集團的投資回報率爲:

12% = CN¥173m ÷ CN¥1.4b (Based on the trailing twelve months to September 2023).

12% = 1.73億元人民幣 ÷ 14億元人民幣(基於截至2023年9月的過去十二個月)。

The 'return' refers to a company's earnings over the last year. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.12.

“回報” 是指公司去年的收益。因此,這意味着公司每投資1元人民幣,公司就會產生0.12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. 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. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

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。然後,我們能夠評估公司的收益增長潛力,具體取決於公司對這些利潤進行再投資或 “保留” 了多少及其有效性。假設其他條件都一樣,與功能不相同的公司相比,具有更高股本回報率和更高利潤保留率的公司通常具有更高的增長率。

Hangzhou Fortune Gas Cryogenic Group's Earnings Growth And 12% ROE

杭州富強燃氣低溫集團的收益增長和12%的投資回報率

To start with, Hangzhou Fortune Gas Cryogenic Group's ROE looks acceptable. On comparing with the average industry ROE of 7.5% the company's ROE looks pretty remarkable. This certainly adds some context to Hangzhou Fortune Gas Cryogenic Group's exceptional 22% net income growth seen over the past five years. We reckon that there could also be other factors at play here. For instance, the company has a low payout ratio or is being managed efficiently.

首先,杭州富強燃氣低溫集團的投資回報率似乎是可以接受的。與7.5%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。這無疑爲杭州富強燃氣低溫集團在過去五年中實現的22%的驚人淨收入增長增添了一些背景信息。我們認爲,這裏可能還有其他因素在起作用。例如,該公司的派息率較低或管理效率很高。

We then compared Hangzhou Fortune Gas Cryogenic Group's net income growth with the industry and we're pleased to see that the company's growth figure is higher when compared with the industry which has a growth rate of 11% in the same 5-year period.

然後,我們將杭州富強燃氣低溫集團的淨收入增長與該行業進行了比較,我們很高興看到,與同期增長率爲11%的行業相比,該公司的增長數字更高。

past-earnings-growth
SHSE:603173 Past Earnings Growth April 16th 2024
SHSE: 603173 過去的收益增長 2024 年 4 月 16 日

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 Hangzhou Fortune Gas Cryogenic Group 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。這樣做將幫助他們確定股票的未來是樂觀還是不祥的。與其他公司相比,杭州富強燃氣低溫集團的估值是否合理?這3種估值指標可能會幫助您做出決定。

Is Hangzhou Fortune Gas Cryogenic Group Using Its Retained Earnings Effectively?

杭州財富燃氣低溫集團是否在有效使用其留存收益?

Hangzhou Fortune Gas Cryogenic Group's ' three-year median payout ratio is on the lower side at 12% implying that it is retaining a higher percentage (88%) of its profits. So it seems like the management is reinvesting profits heavily to grow its business and this reflects in its earnings growth number.

杭州財富燃氣低溫集團的三年中位數派息率處於較低水平,爲12%,這意味着其利潤的百分比更高(88%)。因此,管理層似乎正在將利潤大量再投資以發展業務,這反映在其收益增長數字上。

Along with seeing a growth in earnings, Hangzhou Fortune Gas Cryogenic Group only recently started paying dividends. Its quite possible that the company was looking to impress its shareholders.

隨着收益的增長,杭州富強燃氣低溫集團直到最近才開始派發股息。該公司很可能想給股東留下深刻的印象。

Conclusion

結論

In total, we are pretty happy with Hangzhou Fortune Gas Cryogenic Group's performance. 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. Having said that, looking at the current analyst estimates, we found that the company's earnings are expected to gain momentum. To know more about the latest analysts predictions for the company, check out this visualization of analyst forecasts for the company.

總的來說,我們對杭州富強燃氣低溫集團的表現非常滿意。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。話雖如此,從分析師目前的估計來看,我們發現該公司的收益有望增強。要詳細了解分析師對公司的最新預測,請查看該公司的分析師預測的可視化。

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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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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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