<p>KLN 物流集团（香港证券交易所代码：636）在今年悄然超越了大盘，股价小幅上涨，年收入和净收入均增长约 3%，吸引了价值投资者的新关注。</p>
<p>查看我们对 KLN 物流集团的最新分析。</p>
<p>目前股价为 7.07 港元，该股票在短期内恢复温和，1 个月的股价回报为 2.02%，但其 3 年总股东回报为负 38.67%，显示出长期动能仍在重建，投资者正在重新评估其盈利韧性和估值。</p>
<p>如果 KLN 的稳步进展让你思考接下来可能重新定价的其他股票，现在可能是探索高内部持股的快速增长股票的好时机。</p>
<p>随着盈利逐步上升，股价仍远低于分析师的目标，投资者现在面临一个关键问题：KLN 是否被低估，还是市场已经考虑了其所有未来增长？</p>
<h2>8.8 倍的市盈率：是否合理？</h2>
<p>在 8.8 倍的市盈率下，KLN 物流集团相较于同行显得便宜，尽管最后的收盘价已经有所恢复。</p>
<p>市盈率比较公司当前股价与每股收益，帮助投资者判断他们为每一美元的利润支付了多少。</p>
<p>对于 KLN 物流集团而言，情况是复杂的，因为该股票相较于其自身估计的公允市盈率 8.5 倍略显昂贵，但与其亚洲物流同行的 16.5 倍和更广泛同行平均的 33.9 倍相比，仍以大幅折扣交易。这表明，尽管分析师看到上行空间，我们的贴现现金流模型指向显著低估，市场仍在定价低于行业标准的增长和盈利能力。</p>
<p>与行业相比，这一折扣显得尤为明显，类似企业的盈利倍数明显更高。如果市场情绪向公允比率正常化，KLN 物流集团的市场看法有可能更接近行业基准。</p>
<p>探索 KLN 物流集团的 SWS 公允比率</p>
<p><strong>结果：8.8 倍的市盈率（被低估）</strong></p>
<p>然而，货运需求疲软或持续的价格压力可能会减缓盈利动能，并阻止 KLN 的估值折扣迅速缩小，正如看涨者所期待的那样。</p>
<p>了解 KLN 物流集团叙述中的关键风险。</p>
<h2>价值的另一种视角</h2>
<p>我们的贴现现金流模型比单纯的盈利倍数提供了更强的论据，KLN 物流集团的交易价格约低于其估计公允价值 13.35 港元的 47%。如果这种长期现金流的观点比今天的市场情绪更接近现实，这一差距能持续多久？</p>
<p>了解 SWS 贴现现金流模型如何得出其公允价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2af78f84-2e5d-4fb9-9707-1dee6b6e7ceb/chart/dcf?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/company/2af78f84-2e5d-4fb9-9707-1dee6b6e7ceb/chart/dcf"/></p>
<p>636 截至 2025 年 12 月的贴现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行贴现现金流（DCF）分析（例如查看 KLN 物流集团）。我们展示完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 908 只基于现金流的被低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的 KLN 物流集团叙述</h2>
<p>如果您对数字有不同的看法或想要压力测试自己的假设，您可以在几分钟内构建完整的视图：按您的方式进行。</p>
<p>您对 KLN 物流集团研究的一个很好的起点是我们的分析，强调 3 个关键收益和 1 个可能影响您投资决策的重要警示信号。</p>
<h2>准备好进行下一步投资吗？</h2>
<p>KLN 现在可能在您的雷达上，但如果您忽视我们筛选器中的强大想法，您可能会错过市场上最具吸引力的机会。</p>
<ul>
<li>通过针对这些 908 只基于现金流的被低估股票，捕捉潜在的早期便宜货，目标是交易低于内在价值的公司，避免人群追逐。</li>
<li>在医疗和诊断的结构性增长趋势中，通过这 29 只医疗 AI 股票为自己定位，同时创新仍被低估。</li>
<li>通过这 80 只加密货币和区块链股票，利用数字资产和基础设施的动能，降低旁观下一个大涨的风险。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人技术不是类人机器人，而是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

<p>KLN 物流集团（港交所代码：636）股价略有回升，1 个月回报率为 2.02%，年收入和净利润增长约为 3%。尽管如此，其 3 年总股东回报率为负 38.67%。该股票的市盈率为 8.8 倍，低于同行，暗示其可能被低估。然而，货运需求疲软或价格压力可能会影响其盈利势头。折现现金流模型显示，该股票的交易价格约低于其估计公允价值 HK$13.35 的 47%</p>

<p>KLN Logistics Group (SEHK:636) has quietly outperformed the broader market this year, with the share price edging higher and annual revenue and net income both growing around 3%, drawing fresh interest from value focused investors.</p>
<div class="lb-trans"><p>KLN 物流集团（香港证券交易所代码：636）在今年悄然超越了大盘，股价小幅上涨，年收入和净收入均增长约 3%，吸引了价值投资者的新关注。</p>
</div><p>See our latest analysis for KLN Logistics Group.</p>
<div class="lb-trans"><p>查看我们对 KLN 物流集团的最新分析。</p>
</div><p>Trading at HK$7.07, the stock has staged a modest near term recovery with a 1 month share price return of 2.02%, but its 3 year total shareholder return of negative 38.67% shows longer term momentum is still rebuilding as investors reassess its earnings resilience and valuation.</p>
<div class="lb-trans"><p>目前股价为 7.07 港元，该股票在短期内恢复温和，1 个月的股价回报为 2.02%，但其 3 年总股东回报为负 38.67%，显示出长期动能仍在重建，投资者正在重新评估其盈利韧性和估值。</p>
</div><p>If KLN’s steady progress has you thinking about what else could rerate next, this might be a good moment to explore fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果 KLN 的稳步进展让你思考接下来可能重新定价的其他股票，现在可能是探索高内部持股的快速增长股票的好时机。</p>
</div><p>With earnings ticking higher and the share price still well below analysts’ targets, investors now face a key question: is KLN quietly undervalued, or is the market already factoring in all of its future growth?</p>
<div class="lb-trans"><p>随着盈利逐步上升，股价仍远低于分析师的目标，投资者现在面临一个关键问题：KLN 是否被低估，还是市场已经考虑了其所有未来增长？</p>
</div><h2>Price-to-Earnings of 8.8x: Is it justified?</h2>
<div class="lb-trans"><h2>8.8 倍的市盈率：是否合理？</h2>
</div><p>On a price-to-earnings ratio of 8.8 times, KLN Logistics Group looks inexpensive versus peers, even though the last close price has already recovered somewhat.</p>
<div class="lb-trans"><p>在 8.8 倍的市盈率下，KLN 物流集团相较于同行显得便宜，尽管最后的收盘价已经有所恢复。</p>
</div><p>The price to earnings multiple compares the company’s current share price to its per share earnings, helping investors judge how much they are paying for each dollar of profit.</p>
<div class="lb-trans"><p>市盈率比较公司当前股价与每股收益，帮助投资者判断他们为每一美元的利润支付了多少。</p>
</div><p>For KLN Logistics Group, the picture is mixed, as the stock screens slightly expensive against its own estimated fair P E of 8.5 times, yet it trades at a steep discount to both its Asian logistics peers on 16.5 times and the broader peer group average of 33.9 times. This suggests the market is still pricing in weaker growth and profitability than sector norms even as analysts see upside and our DCF points to material undervaluation.</p>
<div class="lb-trans"><p>对于 KLN 物流集团而言，情况是复杂的，因为该股票相较于其自身估计的公允市盈率 8.5 倍略显昂贵，但与其亚洲物流同行的 16.5 倍和更广泛同行平均的 33.9 倍相比，仍以大幅折扣交易。这表明，尽管分析师看到上行空间，我们的贴现现金流模型指向显著低估，市场仍在定价低于行业标准的增长和盈利能力。</p>
</div><p>That discount is stark relative to the industry, where similar businesses command materially higher earnings multiples. If sentiment normalises toward the fair ratio, there is room for the market’s view of KLN Logistics Group to shift closer to sector benchmarks.</p>
<div class="lb-trans"><p>与行业相比，这一折扣显得尤为明显，类似企业的盈利倍数明显更高。如果市场情绪向公允比率正常化，KLN 物流集团的市场看法有可能更接近行业基准。</p>
</div><p>Explore the SWS fair ratio for KLN Logistics Group</p>
<div class="lb-trans"><p>探索 KLN 物流集团的 SWS 公允比率</p>
</div><p><strong>Result: Price-to-Earnings of 8.8x (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：8.8 倍的市盈率（被低估）</strong></p>
</div><p>However, softer freight demand or prolonged pricing pressure could slow earnings momentum and prevent KLN’s valuation discount from closing as quickly as bulls expect.</p>
<div class="lb-trans"><p>然而，货运需求疲软或持续的价格压力可能会减缓盈利动能，并阻止 KLN 的估值折扣迅速缩小，正如看涨者所期待的那样。</p>
</div><p>Find out about the key risks to this KLN Logistics Group narrative.</p>
<div class="lb-trans"><p>了解 KLN 物流集团叙述中的关键风险。</p>
</div><h2>Another View on Value</h2>
<div class="lb-trans"><h2>价值的另一种视角</h2>
</div><p>Our DCF model presents a much stronger case than the earnings multiple alone, with KLN Logistics Group trading about 47% below its estimated fair value of HK$13.35. If that long term cash flow view is closer to reality than today’s sentiment, how long can this gap persist?</p>
<div class="lb-trans"><p>我们的贴现现金流模型比单纯的盈利倍数提供了更强的论据，KLN 物流集团的交易价格约低于其估计公允价值 13.35 港元的 47%。如果这种长期现金流的观点比今天的市场情绪更接近现实，这一差距能持续多久？</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>了解 SWS 贴现现金流模型如何得出其公允价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/2af78f84-2e5d-4fb9-9707-1dee6b6e7ceb/chart/dcf" alt="" original-src="https://images.simplywall.st/company/2af78f84-2e5d-4fb9-9707-1dee6b6e7ceb/chart/dcf"/></p>
<p>636 Discounted Cash Flow as at Dec 2025</p>
<div class="lb-trans"><p>636 截至 2025 年 12 月的贴现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out KLN Logistics Group for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 908 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行贴现现金流（DCF）分析（例如查看 KLN 物流集团）。我们展示完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 908 只基于现金流的被低估股票。如果您保存筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own KLN Logistics Group Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 KLN 物流集团叙述</h2>
</div><p>If you see the numbers differently or want to stress test your own assumptions, you can build a complete view in minutes: Do it your way.</p>
<div class="lb-trans"><p>如果您对数字有不同的看法或想要压力测试自己的假设，您可以在几分钟内构建完整的视图：按您的方式进行。</p>
</div><p>A great starting point for your KLN Logistics Group research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>您对 KLN 物流集团研究的一个很好的起点是我们的分析，强调 3 个关键收益和 1 个可能影响您投资决策的重要警示信号。</p>
</div><h2>Ready for your next investing move?</h2>
<div class="lb-trans"><h2>准备好进行下一步投资吗？</h2>
</div><p>KLN might be on your radar now, but you may miss some of the market’s most compelling setups if you ignore the powerful ideas in our screeners.</p>
<div class="lb-trans"><p>KLN 现在可能在您的雷达上，但如果您忽视我们筛选器中的强大想法，您可能会错过市场上最具吸引力的机会。</p>
</div><ul>
<li>Capture potential bargains early by targeting companies trading below intrinsic value with these 908 undervalued stocks based on cash flows before the crowd catches on.</li>
<li>Position yourself for structural growth trends in medicine and diagnostics through these 29 healthcare AI stocks while innovation is still being underpriced.</li>
<li>Tap into the momentum of digital assets and infrastructure via these 80 cryptocurrency and blockchain stocks and reduce the risk of watching the next big run from the sidelines.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过针对这些 908 只基于现金流的被低估股票，捕捉潜在的早期便宜货，目标是交易低于内在价值的公司，避免人群追逐。</li>
<li>在医疗和诊断的结构性增长趋势中，通过这 29 只医疗 AI 股票为自己定位，同时创新仍被低估。</li>
<li>通过这 80 只加密货币和区块链股票，利用数字资产和基础设施的动能，降低旁观下一个大涨的风险。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>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.</strong> 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.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
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<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人机器人，而是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随时随地。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

KLN 物流集团（SEHK:636）在近期股价回升后是否被低估？