Weak Statutory Earnings May Not Tell The Whole Story For Zhejiang Great Shengda PackagingLtd (SHSE:603687)
Weak Statutory Earnings May Not Tell The Whole Story For Zhejiang Great Shengda PackagingLtd (SHSE:603687)
Zhejiang Great Shengda Packaging Co.,Ltd.'s (SHSE:603687) recent weak earnings report didn't cause a big stock movement. However, we believe that investors should be aware of some underlying factors which may be of concern.
浙江大勝達包裝有限公司, Ltd. 's（上海證券交易所代碼：603687）最近疲軟的收益報告並未導致股市大幅波動。但是，我們認爲，投資者應注意一些可能令人擔憂的潛在因素。
To understand the value of a company's earnings growth, it is imperative to consider any dilution of shareholders' interests. In fact, Zhejiang Great Shengda PackagingLtd increased the number of shares on issue by 31% over the last twelve months by issuing new shares. That means its earnings are split among a greater number of shares. Per share metrics like EPS help us understand how much actual shareholders are benefitting from the company's profits, while the net income level gives us a better view of the company's absolute size. Check out Zhejiang Great Shengda PackagingLtd's historical EPS growth by clicking on this link.
要了解公司收益增長的價值，必須考慮削弱股東的利益。實際上，浙江大勝達包裝有限公司通過發行新股，在過去十二個月中將已發行股票數量增加了31％。這意味着其收益將分配給更多的股票。每股收益等每股指標可以幫助我們了解實際股東從公司的利潤中受益的程度，而淨收入水平則使我們能夠更好地了解公司的絕對規模。點擊此鏈接，查看浙江大盛達包裝有限公司的歷史每股收益增長。
How Is Dilution Impacting Zhejiang Great Shengda PackagingLtd's Earnings Per Share (EPS)?
稀釋如何影響浙江大盛達包裝有限公司的每股收益（EPS）？
Unfortunately, Zhejiang Great Shengda PackagingLtd's profit is down 69% per year over three years. And even focusing only on the last twelve months, we see profit is down 14%. Sadly, earnings per share fell further, down a full 27% in that time. And so, you can see quite clearly that dilution is having a rather significant impact on shareholders.
不幸的是，浙江大勝達包裝有限公司的利潤在三年內每年下降69％。而且，即使只關注過去的十二個月，我們也看到利潤下降了14％。可悲的是，收入 每股 進一步下跌，當時下跌了整整27％。因此，你可以清楚地看到，稀釋對股東產生了相當大的影響。
In the long term, if Zhejiang Great Shengda PackagingLtd's earnings per share can increase, then the share price should too. However, if its profit increases while its earnings per share stay flat (or even fall) then shareholders might not see much benefit. For the ordinary retail shareholder, EPS is a great measure to check your hypothetical "share" of the company's profit.
從長遠來看，如果浙江大勝達包裝有限公司的收益 每股 可以上漲，那麼股價也應該上漲。但是，如果其利潤增加而每股收益持平（甚至下降），那麼股東可能看不到太多好處。對於普通散戶股東來說，每股收益是檢查假設的公司利潤 “份額” 的好方法。
Note: we always recommend investors check balance sheet strength. Click here to be taken to our balance sheet analysis of Zhejiang Great Shengda PackagingLtd.
注意：我們始終建議投資者檢查資產負債表的實力。點擊此處查看我們對浙江大盛達包裝有限公司的資產負債表分析
Our Take On Zhejiang Great Shengda PackagingLtd's Profit Performance
我們對浙江大勝達包裝有限公司盈利表現的看法
Zhejiang Great Shengda PackagingLtd issued shares during the year, and that means its EPS performance lags its net income growth. Therefore, it seems possible to us that Zhejiang Great Shengda PackagingLtd's true underlying earnings power is actually less than its statutory profit. Sadly, its EPS was down over the last twelve months. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. For example, we've found that Zhejiang Great Shengda PackagingLtd has 2 warning signs (1 is a bit concerning!) that deserve your attention before going any further with your analysis.
浙江大盛達包裝有限公司在年內發行了股票，這意味着其每股收益表現落後於其淨收入增長。因此，在我們看來，浙江大盛達包裝有限公司的真正基礎盈利能力實際上可能低於其法定利潤。不幸的是，在過去的十二個月中，其每股收益有所下降。當然，我們只是在分析其收益時才浮出水面；人們還可以考慮利潤率、預測增長和投資回報率等因素。因此，如果你想更深入地研究這隻股票，那麼考慮它面臨的任何風險至關重要。例如，我們發現浙江大勝達包裝有限公司有 2 個警告標誌（1 個有點令人擔憂！）在進行進一步分析之前，這值得你注意。
Today we've zoomed in on a single data point to better understand the nature of Zhejiang Great Shengda PackagingLtd's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. So you may wish to see this free collection of companies boasting high return on equity, or this list of stocks that insiders are buying.
今天，我們放大了單個數據點，以更好地了解浙江大盛達包裝有限公司利潤的性質。但是，如果你能夠將注意力集中在細節上，總會有更多的事情需要發現。例如，許多人認爲高股本回報率是有利的商業經濟的標誌，而另一些人則喜歡 “關注資金”，尋找內部人士正在買入的股票。因此，你可能希望看到這份免費收藏的擁有高股本回報率的公司，或者這份內部人士正在購買的股票清單。
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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。
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