<p>一般来说，长期投资是明智之举。但在这个过程中，一些股票的表现会很糟糕。例如，在漫长的五年后，<strong>莱蒙国际</strong>（HKG:3688）的股价下降了整整 62%。这至少可以说是极其不理想。而一些最近的买家可能也会感到担忧，因为该股票在过去一年中下跌了 30%。股东们的处境更为艰难，股价在过去 90 天内下跌了 29%。</p>
<p>在过去一周，股价下跌了 13%，值得关注一下公司的业绩，看看是否存在任何警示信号。</p>
<p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
<p>莱蒙国际目前尚未盈利，因此大多数分析师会关注收入增长，以了解基础业务的增长速度。一般来说，未盈利的公司预计每年都能实现收入增长，并且增长速度良好。一些公司愿意推迟盈利以更快地增长收入，但在这种情况下，人们希望能有良好的收入增长来弥补缺乏盈利。</p>
<p>在过去五年中，莱蒙国际的收入年均增长 20%。这比大多数亏损公司的表现要好。相比之下，股价平均每年损失 10%——这相当令人失望。可以肯定地说，投资者的预期现在更加务实。如果你认为公司能够保持收入增长，你就必须考虑这里可能存在的机会。</p>
<p>公司的收入和盈利（随时间变化）在下图中展示（点击查看具体数字）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/128224685-earnings-and-revenue-growth-1-dark/1743148091149?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/128224685-earnings-and-revenue-growth-1-dark/1743148091149"/></p>
<p>SEHK:3688 收益和收入增长 2025 年 3 月 28 日</p>
<p>通过这份 <strong>免费</strong> 的资产负债表报告，更深入地了解莱蒙国际的财务健康状况。</p>
<h2>总股东回报（TSR）如何？</h2>
<p>我们不能不提到莱蒙国际的_总股东回报_（TSR）与其_股价回报_之间的差异。TSR 试图捕捉股息的价值（就像它们被再投资一样），以及任何分拆或向股东提供的折扣融资。股息对莱蒙国际的股东非常有利，这笔现金支付解释了为什么在过去五年中，其总股东损失 58% 并不如股价回报那么糟糕。</p>
<h2>不同的视角</h2>
<p>虽然大盘在过去一年中上涨了约 35%，但莱蒙国际的股东却损失了 30%。然而，请记住，即使是最好的股票，有时在十二个月的时间里也会表现不佳。不幸的是，去年的表现可能表明尚未解决的挑战，因为它比过去五年年化损失 10% 还要糟糕。一般来说，长期股价疲软可能是一个坏兆头，尽管逆向投资者可能希望研究该股票以期反弹。长期跟踪股价表现总是很有趣。但要更好地理解莱蒙国际，我们需要考虑许多其他因素。例如，投资风险的无处不在的阴影。<strong>我们已经识别出莱蒙国际的 3 个警示信号</strong>（至少有 2 个让我们感到不安），理解这些信号应该是你投资过程的一部分。</p>
<p>当然，<strong>莱蒙国际可能不是最佳的投资股票</strong>。所以你可能想看看这份 <strong>免费</strong> 的成长股集合。</p>
<p><em>请注意，本文中引用的市场回报反映了目前在香港交易所交易的股票的市场加权平均回报。</em></p>

莱蒙国际

<p>莱蒙国际（HKG:3688）的股价出现显著下跌，过去五年下跌了 58%，去年下跌了 30%。最近，该股票在短短一周内下跌了 13%。尽管公司年均收入增长 20%，但仍未实现盈利，导致股价表现令人失望。由于分红，总股东回报（TSR）表现较好，但股票的长期疲软引发了担忧。建议投资者在投资前考虑潜在的风险和挑战</p>

<p>Generally speaking long term investing is the way to go. But along the way some stocks are going to perform badly. For example, after five long years the <strong>Top Spring International Holdings Limited</strong> (HKG:3688) share price is a whole 62% lower. That is extremely sub-optimal, to say the least. And some of the more recent buyers are probably worried, too, with the stock falling 30% in the last year. Shareholders have had an even rougher run lately, with the share price down 29% in the last 90 days.</p>
<div class="lb-trans"><p>一般来说，长期投资是明智之举。但在这个过程中，一些股票的表现会很糟糕。例如，在漫长的五年后，<strong>莱蒙国际</strong>（HKG:3688）的股价下降了整整 62%。这至少可以说是极其不理想。而一些最近的买家可能也会感到担忧，因为该股票在过去一年中下跌了 30%。股东们的处境更为艰难，股价在过去 90 天内下跌了 29%。</p>
</div><p>With the stock having lost 13% in the past week, it's worth taking a look at business performance and seeing if there's any red flags.</p>
<div class="lb-trans"><p>在过去一周，股价下跌了 13%，值得关注一下公司的业绩，看看是否存在任何警示信号。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
</div><p>Top Spring International Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings.</p>
<div class="lb-trans"><p>莱蒙国际目前尚未盈利，因此大多数分析师会关注收入增长，以了解基础业务的增长速度。一般来说，未盈利的公司预计每年都能实现收入增长，并且增长速度良好。一些公司愿意推迟盈利以更快地增长收入，但在这种情况下，人们希望能有良好的收入增长来弥补缺乏盈利。</p>
</div><p>In the last half decade, Top Spring International Holdings saw its revenue increase by 20% per year. That's better than most loss-making companies. In contrast, the share price is has averaged a loss of 10% per year - that's quite disappointing. It's safe to say investor expectations are more grounded now. If you think the company can keep up its revenue growth, you'd have to consider the possibility that there's an opportunity here.</p>
<div class="lb-trans"><p>在过去五年中，莱蒙国际的收入年均增长 20%。这比大多数亏损公司的表现要好。相比之下，股价平均每年损失 10%——这相当令人失望。可以肯定地说，投资者的预期现在更加务实。如果你认为公司能够保持收入增长，你就必须考虑这里可能存在的机会。</p>
</div><p>The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).</p>
<div class="lb-trans"><p>公司的收入和盈利（随时间变化）在下图中展示（点击查看具体数字）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/128224685-earnings-and-revenue-growth-1-dark/1743148091149" alt="" original-src="https://images.simplywall.st/asset/chart/128224685-earnings-and-revenue-growth-1-dark/1743148091149"/></p>
<p>SEHK:3688 Earnings and Revenue Growth March 28th 2025</p>
<div class="lb-trans"><p>SEHK:3688 收益和收入增长 2025 年 3 月 28 日</p>
</div><p>Take a more thorough look at Top Spring International Holdings' financial health with this <strong>free</strong> report on its balance sheet.</p>
<div class="lb-trans"><p>通过这份 <strong>免费</strong> 的资产负债表报告，更深入地了解莱蒙国际的财务健康状况。</p>
</div><h2>What About The Total Shareholder Return (TSR)?</h2>
<div class="lb-trans"><h2>总股东回报（TSR）如何？</h2>
</div><p>We'd be remiss not to mention the difference between Top Spring International Holdings' <em>total shareholder return</em> (TSR) and its <em>share price return</em>. The TSR attempts to capture the value of dividends (as if they were reinvested) as well as any spin-offs or discounted capital raisings offered to shareholders. Dividends have been really beneficial for Top Spring International Holdings shareholders, and that cash payout explains why its total shareholder loss of 58%, over the last 5 years, isn't as bad as the share price return.</p>
<div class="lb-trans"><p>我们不能不提到莱蒙国际的_总股东回报_（TSR）与其_股价回报_之间的差异。TSR 试图捕捉股息的价值（就像它们被再投资一样），以及任何分拆或向股东提供的折扣融资。股息对莱蒙国际的股东非常有利，这笔现金支付解释了为什么在过去五年中，其总股东损失 58% 并不如股价回报那么糟糕。</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的视角</h2>
</div><p>While the broader market gained around 35% in the last year, Top Spring International Holdings shareholders lost 30%. However, keep in mind that even the best stocks will sometimes underperform the market over a twelve month period. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 10% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. It's always interesting to track share price performance over the longer term. But to understand Top Spring International Holdings better, we need to consider many other factors. Consider for instance, the ever-present spectre of investment risk. <strong>We've identified 3 warning signs</strong> with Top Spring International Holdings (at least 2 which make us uncomfortable) , and understanding them should be part of your investment process.</p>
<div class="lb-trans"><p>虽然大盘在过去一年中上涨了约 35%，但莱蒙国际的股东却损失了 30%。然而，请记住，即使是最好的股票，有时在十二个月的时间里也会表现不佳。不幸的是，去年的表现可能表明尚未解决的挑战，因为它比过去五年年化损失 10% 还要糟糕。一般来说，长期股价疲软可能是一个坏兆头，尽管逆向投资者可能希望研究该股票以期反弹。长期跟踪股价表现总是很有趣。但要更好地理解莱蒙国际，我们需要考虑许多其他因素。例如，投资风险的无处不在的阴影。<strong>我们已经识别出莱蒙国际的 3 个警示信号</strong>（至少有 2 个让我们感到不安），理解这些信号应该是你投资过程的一部分。</p>
</div><p>Of course <strong>Top Spring International Holdings may not be the best stock to buy</strong>. So you may wish to see this <strong>free</strong> collection of growth stocks.</p>
<div class="lb-trans"><p>当然，<strong>莱蒙国际可能不是最佳的投资股票</strong>。所以你可能想看看这份 <strong>免费</strong> 的成长股集合。</p>
</div><p><em>Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Hong Kong exchanges.</em></p>
<div class="lb-trans"><p><em>请注意，本文中引用的市场回报反映了目前在香港交易所交易的股票的市场加权平均回报。</em></p>
</div>

莱蒙国际控股有限公司（HKG:3688）的股东损失了 58%，因为该股在过去一周内下跌了 13%