Henan Zhongfu Industrial Co.,Ltd's (SHSE:600595) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
Henan Zhongfu Industrial Co.,Ltd's (SHSE:600595) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock?
With its stock down 15% over the past month, it is easy to disregard Henan Zhongfu IndustrialLtd (SHSE:600595). 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. In this article, we decided to focus on Henan Zhongfu IndustrialLtd's ROE.
由於其股票在過去一個月中下跌了15％，很容易被忽視（上海證券交易所代碼：600595）。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。在這篇文章中，我們決定重點關注河南中孚實業有限公司的投資回報率。
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. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.
投資回報率或股本回報率是評估公司如何有效地從股東那裏獲得投資回報的有用工具。簡而言之，它衡量公司相對於股東權益的盈利能力。
How To Calculate Return On Equity?
如何計算股本回報率？
The formula for ROE is:
ROE 的公式是：
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 Henan Zhongfu IndustrialLtd is:
因此，根據上述公式，河南中富實業有限公司的投資回報率爲：
9.0% = CN¥1.4b ÷ CN¥15b (Based on the trailing twelve months to March 2024).
9.0% = 14億元人民幣 ÷ 15億元人民幣（基於截至2024年3月的過去十二個月）。
The 'return' is the profit over the last twelve months. So, this means that for every CN¥1 of its shareholder's investments, the company generates a profit of CN¥0.09.
“回報” 是過去十二個月的利潤。因此，這意味着公司每投資1元人民幣，公司就會產生0.09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？
We have already established that ROE serves as an efficient profit-generating gauge for a company's future earnings. 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. 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.
我們已經確定，投資回報率是衡量公司未來收益的有效盈利指標。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。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。
Henan Zhongfu IndustrialLtd's Earnings Growth And 9.0% ROE
河南中富實業有限公司的收益增長和9.0％的投資回報率
When you first look at it, Henan Zhongfu IndustrialLtd's ROE doesn't look that attractive. Although a closer study shows that the company's ROE is higher than the industry average of 7.4% which we definitely can't overlook. Especially when you consider Henan Zhongfu IndustrialLtd's exceptional 60% net income growth over the past five years. Bear in mind, the company does have a moderately low ROE. It is just that the industry ROE is lower. Hence, there might be some other aspects that are causing earnings to grow. Such as- high earnings retention or the company belonging to a high growth industry.
當你第一次看時，河南中孚實業有限公司的投資回報率看起來並不那麼吸引人。儘管一項更仔細的研究表明，該公司的投資回報率高於行業平均水平的7.4％，但我們絕對不能忽視。特別是考慮到河南中富實業有限公司在過去五年中實現了60％的驚人淨收入增長。請記住，該公司的投資回報率確實適中。只是行業的投資回報率較低。因此，可能還有其他一些方面導致收益增長。例如-高收益留存率或屬於高增長行業的公司。
As a next step, we compared Henan Zhongfu IndustrialLtd's net income growth with the industry, and pleasingly, we found that the growth seen by the company is higher than the average industry growth of 12%.
下一步，我們將河南中孚實業有限公司的淨收入增長與該行業進行了比較，令人高興的是，我們發現該公司的增長高於行業平均增長12％。
Earnings growth is an important metric to consider when valuing a stock. What investors need to determine next is if the expected earnings growth, or the lack of it, is already built into the share price. Doing so will help them establish if the stock's future looks promising or ominous. Is Henan Zhongfu IndustrialLtd fairly valued compared to other companies? These 3 valuation measures might help you decide.
收益增長是對股票進行估值時要考慮的重要指標。投資者接下來需要確定的是，預期的收益增長或缺乏收益是否已經包含在股價中。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，河南中富實業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 Henan Zhongfu IndustrialLtd Making Efficient Use Of Its Profits?
河南中富實業有限公司是否在有效利用其利潤？
Given that Henan Zhongfu IndustrialLtd doesn't pay any regular dividends to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.
鑑於河南中富實業有限公司不向其股東支付任何定期股息，我們推斷該公司一直在將其所有利潤再投資以發展業務。
Summary
摘要
On the whole, we feel that Henan Zhongfu IndustrialLtd's performance has been quite good. Specifically, we like that it has been reinvesting a high portion of its profits at a moderate rate of return, resulting in earnings expansion. Having said that, the company's earnings growth is expected to slow down, as forecasted in the current analyst estimates. 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，我們覺得河南中孚實業有限公司的表現相當不錯。具體而言，我們喜歡它一直在以適度的回報率再投資其很大一部分利潤，從而實現了收益的擴張。話雖如此，正如分析師目前的估計所預測的那樣，該公司的收益增長預計將放緩。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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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。