Market Cool On Emperor Culture Group Limited's (HKG:491) Revenues Pushing Shares 28% Lower
Market Cool On Emperor Culture Group Limited's (HKG:491) Revenues Pushing Shares 28% Lower
Emperor Culture Group Limited (HKG:491) shareholders won't be pleased to see that the share price has had a very rough month, dropping 28% and undoing the prior period's positive performance. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 74% loss during that time.
英皇文化集團有限公司（HKG: 491）股東不會很高興看到股價經歷了一個非常艱難的月份，下跌了28％，抵消了前一時期的積極表現。對於股東來說，最近的下跌結束了災難性的十二個月，在此期間，股東虧損了74％。
Following the heavy fall in price, Emperor Culture Group may be sending buy signals at present with its price-to-sales (or "P/S") ratio of 0.2x, considering almost half of all companies in the Entertainment industry in Hong Kong have P/S ratios greater than 1.7x and even P/S higher than 4x aren't out of the ordinary. 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，英皇文化集團目前可能正在發出買入信號，其市銷率（或 “市盈率”）爲0.2倍，因爲香港娛樂業幾乎有一半的公司市盈率大於1.7倍，即使市盈率高於4倍也並非不尋常。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:491 Price to Sales Ratio vs Industry March 25th 2024
香港交易所：491 2024 年 3 月 25 日與行業的股價銷售比率
What Does Emperor Culture Group's Recent Performance Look Like?
英皇文化集團最近的表現如何？
Recent times have been quite advantageous for Emperor Culture Group as its revenue has been rising very briskly. It might be that many expect the strong revenue performance to degrade substantially, which has repressed the P/S ratio. Those who are bullish on Emperor Culture Group will be hoping that this isn't the case, so that they can pick up the stock at a lower valuation.
最近對英皇文化集團來說非常有利，因爲其收入增長非常迅速。許多人可能預計強勁的收入表現將大幅下降，這抑制了市銷率。那些看好英皇文化集團的人會希望情況並非如此，這樣他們就可以以較低的估值買入該股。
Want the full picture on earnings, revenue and cash flow for the company? Then our free report on Emperor Culture Group will help you shine a light on its historical performance.
想全面了解公司的收益、收入和現金流嗎？那麼我們關於英皇文化集團的免費報告將幫助您了解英皇文化集團的歷史表現。
What Are Revenue Growth Metrics Telling Us About The Low P/S?
收入增長指標告訴我們低市銷率有哪些？
In order to justify its P/S ratio, Emperor Culture Group would need to produce sluggish growth that's trailing the industry.
爲了證明其市銷率是合理的，英皇文化集團需要實現落後於該行業的緩慢增長。
Retrospectively, the last year delivered an exceptional 51% gain to the company's top line. The latest three year period has also seen an incredible overall rise in revenue, aided by its incredible short-term performance. So we can start by confirming that the company has done a tremendous job of growing revenue over that time.
回顧過去，去年的公司收入實現了51％的驚人增長。得益於其令人難以置信的短期表現，最近三年的總體收入也實現了驚人的增長。因此，我們可以首先確認該公司在這段時間內在增加收入方面做得非常出色。
When compared to the industry's one-year growth forecast of 44%, the most recent medium-term revenue trajectory is noticeably more alluring
與該行業44％的年度增長預測相比，最新的中期收入軌跡明顯更具吸引力
With this in mind, we find it intriguing that Emperor Culture Group's P/S isn't as high compared to that of its industry peers. It looks like most investors are not convinced the company can maintain its recent growth rates.
考慮到這一點，我們發現有趣的是，英皇文化集團的市銷率與業內同行相比沒有那麼高。看來大多數投資者不相信該公司能夠維持其最近的增長率。
The Bottom Line On Emperor Culture Group's P/S
英皇文化集團市銷率的底線
The southerly movements of Emperor Culture Group's shares means its P/S is now sitting at a pretty low level. We'd say the price-to-sales ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.
英皇文化集團股價向南走勢意味着其市銷率目前處於相當低的水平。我們可以說，市銷比率的力量主要不是作爲一種估值工具，而是用來衡量當前的投資者情緒和未來預期。
Our examination of Emperor Culture Group revealed its three-year revenue trends aren't boosting its P/S anywhere near as much as we would have predicted, given they look better than current industry expectations. When we see strong revenue with faster-than-industry growth, we assume there are some significant underlying risks to the company's ability to make money which is applying downwards pressure on the P/S ratio. It appears many are indeed anticipating revenue instability, because the persistence of these recent medium-term conditions would normally provide a boost to the share price.
我們對英皇文化集團的審查顯示，鑑於其三年收入趨勢看起來好於當前行業預期，其市銷率增長幅度沒有我們預期的那麼大。當我們看到強勁的收入和比行業更快的增長速度時，我們假設公司的盈利能力存在一些重大的潛在風險，這給市銷率帶來了下行壓力。看來許多人確實在預測收入不穩定，因爲近期這些中期狀況的持續下去通常會提振股價。
We don't want to rain on the parade too much, but we did also find 5 warning signs for Emperor Culture Group (3 are significant!) that you need to be mindful of.
我們不想在遊行隊伍中下太多雨，但我們還發現了英皇文化集團的5個警告標誌（3個很重要！）你需要注意的。
It's important to make sure you look for a great company, not just the first idea you come across. So if growing profitability aligns with your idea of a great company, take a peek at this free list of interesting companies with strong recent earnings growth (and a low P/E).
重要的是要確保你尋找一家優秀的公司，而不僅僅是你遇到的第一個想法。因此，如果盈利能力的增長與你對一家優秀公司的想法一致，那就來看看這份免費名單吧，列出了最近收益增長強勁（市盈率低）的有趣公司。
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