<p><strong>第一上海投资有限公司</strong>（HKG:227）的股价在过去 30 天内大幅下跌了 27%，回吐了近期的许多涨幅。从更大的角度来看，即使在这个糟糕的月份之后，该股在过去一年中仍上涨了 83%。</p>
<p>在如此大幅的价格下跌之后，第一上海投资的市销率（&#34;P/S&#34;）为 1.4 倍，与香港资本市场行业相比，可能看起来像是一个买入机会，因为该行业大约一半的公司市销率超过 2.8 倍，甚至超过 8 倍的市销率也相当普遍。不过，仅仅根据市销率来判断并不明智，因为可能有解释说明其限制。</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>查看我们对第一上海投资的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/2481328-ps-multiple-vs-industry-1-dark/1744588834960?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/2481328-ps-multiple-vs-industry-1-dark/1744588834960"/></p>
<p>SEHK:227 市销率与行业比较 2025 年 4 月 14 日</p>
<h3>第一上海投资最近的表现如何？</h3>
<p>第一上海投资最近的表现确实很好，因为它的收入增长速度非常快。一个可能性是，市销率较低是因为投资者认为这种强劲的收入增长在不久的将来可能会表现不如更广泛的行业。如果这种情况没有发生，那么现有股东有理由对股价的未来方向感到相当乐观。</p>
<p>我们没有分析师的预测，但您可以通过查看我们对第一上海投资的 <strong>免费</strong> 报告，了解最近的趋势如何为公司的未来铺路，包括收益、收入和现金流。</p>
<h2>第一上海投资是否有收入增长的预测？</h2>
<p>第一上海投资的市销率对于一家预计仅会实现有限增长的公司来说是典型的，重要的是，它的表现还会逊色于行业。</p>
<p>回顾一下，我们看到该公司去年收入增长了令人印象深刻的 31%。然而，这还不够，因为最近三年期间，该公司的收入总共下降了 28%。因此，股东们对中期收入增长的速度感到沮丧。</p>
<p>与该公司相比，行业其他公司预计在明年将增长 34%，这确实让该公司最近的中期收入下降显得更加突出。</p>
<p>考虑到这一点，我们理解为什么第一上海投资的市销率低于大多数同行。然而，我们认为收入缩减不太可能在长期内导致稳定的市销率，这可能会让股东在未来感到失望。即使只是维持这些价格也可能很难实现，因为最近的收入趋势已经对股价造成了压力。</p>
<h2>关键要点</h2>
<p>第一上海投资的市销率随着其股价的下跌而下降。虽然市销率不应成为您是否购买股票的决定性因素，但它是收入预期的一个相当有效的晴雨表。</p>
<p>正如我们所怀疑的，我们对第一上海投资的检查显示，其中期收入的缩减正在导致其低市销率，因为行业预计将增长。现在，股东们接受低市销率，因为他们承认未来的收入可能不会带来任何令人愉快的惊喜。除非最近的中期条件改善，否则它们将继续在这些水平上形成股价的障碍。</p>
<p>还值得注意的是，我们发现 <strong>第一上海投资的 3 个警告信号</strong>，您需要考虑。</p>
<p>如果您对第一上海投资的业务实力 <strong>不确定</strong>，为什么不探索我们互动的股票列表，寻找一些您可能错过的具有良好商业基础的其他公司呢？</p>
<p>如果您想交易第一上海投资，请在专业人士信赖的最低成本平台 Interactive Brokers 开设账户。</p>
<p>IBKR 在 200 多个国家和地区拥有客户，并可访问 160 个市场，让您可以通过一个集成账户交易股票、期权、期货、外汇、债券和基金。</p>
<p>享受无隐藏费用、无账户最低限额，外汇转换率低至 0.03%，远低于大多数经纪商提供的水平。</p>
<p>赞助内容</p>

第一上海

<p>第一上海投资有限公司（HKG:227）的股价在过去一个月下跌了 27%，尽管在过去一年中上涨了 83%。该公司的市销率（P/S）为 1.4 倍，低于许多行业同行，显示出对未来收入增长的潜在担忧。尽管公司去年经历了 31% 的收入增长，但在过去三年中却面临 28% 的下降。预计该行业明年将增长 34%，这突显了第一上海面临的挑战。除非收入状况改善，否则股东可能会感到失望</p>

<p>The <strong>First Shanghai Investments Limited</strong> (HKG:227) share price has softened a substantial 27% over the previous 30 days, handing back much of the gains the stock has made lately. Looking at the bigger picture, even after this poor month the stock is up 83% in the last year.</p>
<div class="lb-trans"><p><strong>第一上海投资有限公司</strong>（HKG:227）的股价在过去 30 天内大幅下跌了 27%，回吐了近期的许多涨幅。从更大的角度来看，即使在这个糟糕的月份之后，该股在过去一年中仍上涨了 83%。</p>
</div><p>After such a large drop in price, First Shanghai Investments' price-to-sales (or &#34;P/S&#34;) ratio of 1.4x might make it look like a buy right now compared to the Capital Markets industry in Hong Kong, where around half of the companies have P/S ratios above 2.8x and even P/S above 8x are quite common. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's limited.</p>
<div class="lb-trans"><p>在如此大幅的价格下跌之后，第一上海投资的市销率（&#34;P/S&#34;）为 1.4 倍，与香港资本市场行业相比，可能看起来像是一个买入机会，因为该行业大约一半的公司市销率超过 2.8 倍，甚至超过 8 倍的市销率也相当普遍。不过，仅仅根据市销率来判断并不明智，因为可能有解释说明其限制。</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>Check out our latest analysis for First Shanghai Investments</p>
<div class="lb-trans"><p>查看我们对第一上海投资的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/2481328-ps-multiple-vs-industry-1-dark/1744588834960" alt="" original-src="https://images.simplywall.st/asset/chart/2481328-ps-multiple-vs-industry-1-dark/1744588834960"/></p>
<p>SEHK:227 Price to Sales Ratio vs Industry April 14th 2025</p>
<div class="lb-trans"><p>SEHK:227 市销率与行业比较 2025 年 4 月 14 日</p>
</div><h3>How Has First Shanghai Investments Performed Recently?</h3>
<div class="lb-trans"><h3>第一上海投资最近的表现如何？</h3>
</div><p>First Shanghai Investments certainly has been doing a great job lately as it's been growing its revenue at a really rapid pace. One possibility is that the P/S ratio is low because investors think this strong revenue growth might actually underperform the broader industry in the near future. If that doesn't eventuate, then existing shareholders have reason to be quite optimistic about the future direction of the share price.</p>
<div class="lb-trans"><p>第一上海投资最近的表现确实很好，因为它的收入增长速度非常快。一个可能性是，市销率较低是因为投资者认为这种强劲的收入增长在不久的将来可能会表现不如更广泛的行业。如果这种情况没有发生，那么现有股东有理由对股价的未来方向感到相当乐观。</p>
</div><p>We don't have analyst forecasts, but you can see how recent trends are setting up the company for the future by checking out our <strong>free</strong> report on First Shanghai Investments' earnings, revenue and cash flow.</p>
<div class="lb-trans"><p>我们没有分析师的预测，但您可以通过查看我们对第一上海投资的 <strong>免费</strong> 报告，了解最近的趋势如何为公司的未来铺路，包括收益、收入和现金流。</p>
</div><h2>Is There Any Revenue Growth Forecasted For First Shanghai Investments?</h2>
<div class="lb-trans"><h2>第一上海投资是否有收入增长的预测？</h2>
</div><p>First Shanghai Investments' P/S ratio would be typical for a company that's only expected to deliver limited growth, and importantly, perform worse than the industry.</p>
<div class="lb-trans"><p>第一上海投资的市销率对于一家预计仅会实现有限增长的公司来说是典型的，重要的是，它的表现还会逊色于行业。</p>
</div><p>Taking a look back first, we see that the company grew revenue by an impressive 31% last year. However, this wasn't enough as the latest three year period has seen the company endure a nasty 28% drop in revenue in aggregate. Accordingly, shareholders would have felt downbeat about the medium-term rates of revenue growth.</p>
<div class="lb-trans"><p>回顾一下，我们看到该公司去年收入增长了令人印象深刻的 31%。然而，这还不够，因为最近三年期间，该公司的收入总共下降了 28%。因此，股东们对中期收入增长的速度感到沮丧。</p>
</div><p>In contrast to the company, the rest of the industry is expected to grow by 34% over the next year, which really puts the company's recent medium-term revenue decline into perspective.</p>
<div class="lb-trans"><p>与该公司相比，行业其他公司预计在明年将增长 34%，这确实让该公司最近的中期收入下降显得更加突出。</p>
</div><p>With this in mind, we understand why First Shanghai Investments' P/S is lower than most of its industry peers. However, we think shrinking revenues are unlikely to lead to a stable P/S over the longer term, which could set up shareholders for future disappointment. Even just maintaining these prices could be difficult to achieve as recent revenue trends are already weighing down the shares.</p>
<div class="lb-trans"><p>考虑到这一点，我们理解为什么第一上海投资的市销率低于大多数同行。然而，我们认为收入缩减不太可能在长期内导致稳定的市销率，这可能会让股东在未来感到失望。即使只是维持这些价格也可能很难实现，因为最近的收入趋势已经对股价造成了压力。</p>
</div><h2>The Key Takeaway</h2>
<div class="lb-trans"><h2>关键要点</h2>
</div><p>First Shanghai Investments' P/S has taken a dip along with its share price. While the price-to-sales ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of revenue expectations.</p>
<div class="lb-trans"><p>第一上海投资的市销率随着其股价的下跌而下降。虽然市销率不应成为您是否购买股票的决定性因素，但它是收入预期的一个相当有效的晴雨表。</p>
</div><p>As we suspected, our examination of First Shanghai Investments revealed its shrinking revenue over the medium-term is contributing to its low P/S, given the industry is set to grow. Right now shareholders are accepting the low P/S as they concede future revenue probably won't provide any pleasant surprises either. Unless the recent medium-term conditions improve, they will continue to form a barrier for the share price around these levels.</p>
<div class="lb-trans"><p>正如我们所怀疑的，我们对第一上海投资的检查显示，其中期收入的缩减正在导致其低市销率，因为行业预计将增长。现在，股东们接受低市销率，因为他们承认未来的收入可能不会带来任何令人愉快的惊喜。除非最近的中期条件改善，否则它们将继续在这些水平上形成股价的障碍。</p>
</div><p>It is also worth noting that we have found <strong>3 warning signs for First Shanghai Investments</strong> that you need to take into consideration.</p>
<div class="lb-trans"><p>还值得注意的是，我们发现 <strong>第一上海投资的 3 个警告信号</strong>，您需要考虑。</p>
</div><p>If you're <strong>unsure about the strength of First Shanghai Investments' business</strong>, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed.</p>
<div class="lb-trans"><p>如果您对第一上海投资的业务实力 <strong>不确定</strong>，为什么不探索我们互动的股票列表，寻找一些您可能错过的具有良好商业基础的其他公司呢？</p>
</div><p>If you're looking to trade First Shanghai Investments, open an account with the lowest-cost platform trusted by professionals, Interactive Brokers.</p>
<div class="lb-trans"><p>如果您想交易第一上海投资，请在专业人士信赖的最低成本平台 Interactive Brokers 开设账户。</p>
</div><p>With clients in over 200 countries and territories, and access to 160 markets, IBKR lets you trade stocks, options, futures, forex, bonds and funds from a single integrated account.</p>
<div class="lb-trans"><p>IBKR 在 200 多个国家和地区拥有客户，并可访问 160 个市场，让您可以通过一个集成账户交易股票、期权、期货、外汇、债券和基金。</p>
</div><p>Enjoy no hidden fees, no account minimums, and FX conversion rates as low as 0.03%, far better than what most brokers offer.</p>
<div class="lb-trans"><p>享受无隐藏费用、无账户最低限额，外汇转换率低至 0.03%，远低于大多数经纪商提供的水平。</p>
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<div class="lb-trans"><p>赞助内容</p>
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由于第一上海投资有限公司（HKG:227）的收入几乎没有引起任何兴奋，其股价遭受了 27% 的重挫