<p>当香港近一半的公司市盈率（或称&#34;P/E&#34;）低于 12 倍时，您可能会考虑完全避开 <strong>中创新航</strong> (HKG:3931)，因为其市盈率高达 37.9 倍。尽管如此，仅仅根据市盈率来判断并不明智，因为可能有解释其如此高的原因。</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<p>最近一段时间对中创新航来说是有利的，因为其收益增长速度超过了大多数其他公司。市盈率之所以可能较高，是因为投资者认为这种强劲的盈利表现将会持续。您真的希望如此，否则您将为没有特别理由的高价格买单。</p>
<p>查看我们对中创新航的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/701667804-pe-multiple-vs-industry-1-dark-2/1766366711062?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/701667804-pe-multiple-vs-industry-1-dark-2/1766366711062"/></p>
<p>SEHK:3931 市盈率与行业比较 2025 年 12 月 22 日</p>
<p>想要了解公司分析师估计的完整情况吗？那么我们 <strong>免费的</strong> 中创新航报告将帮助您揭示未来的趋势。</p>
<h2>增长是否匹配高市盈率？</h2>
<p>有一个内在假设，即公司必须远远超越市场，才能使像中创新航这样的市盈率被视为合理。</p>
<p>回顾过去一年，公司实现了 122% 的卓越收益增长。令人欣慰的是，得益于过去 12 个月的增长，每股收益（EPS）也比三年前整体提升了 40%。因此，股东们可能会欢迎这些中期的盈利增长率。</p>
<p>展望未来，根据跟踪该公司的九位分析师的预测，预计每股收益将在未来三年内每年增长 48%。这将显著高于更广泛市场预期的每年 14% 的增长。</p>
<p>有了这些信息，我们可以看到为什么中创新航的市盈率相较于市场如此之高。似乎大多数投资者都在期待这种强劲的未来增长，并愿意为该股票支付更高的价格。</p>
<h2>我们可以从中创新航的市盈率中学到什么？</h2>
<p>我们认为市盈率的作用并不主要作为估值工具，而是用来衡量当前投资者情绪和未来预期。</p>
<p>我们已经确定，中创新航维持其高市盈率的原因在于其预测增长高于更广泛市场，正如预期的那样。现在，股东们对市盈率感到满意，因为他们相当自信未来的盈利不会受到威胁。除非这些条件发生变化，否则他们将继续为股价提供强有力的支持。</p>
<p>您应该始终考虑风险。举个例子，我们发现了 <strong>中创新航的 1 个警示信号</strong>，您应该注意。</p>
<p>当然，<strong>您也可能找到比中创新航更好的股票</strong>。因此，您可能希望查看这份 <strong>免费的</strong> 其他公司集合，这些公司具有合理的市盈率并且盈利增长强劲。</p>
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<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

中创新航

<p>中创新航（CALB Group Co., Ltd.）（港股代码：3931）的市盈率高达 37.9 倍，显著高于市场平均水平。这一高估值源于公司强劲的盈利增长，去年增长了 122%，预计未来三年每股收益年均增长 48%。投资者对公司的未来表现充满信心，这为高市盈率提供了合理依据。然而，潜在风险也应予以考虑</p>

<p>When close to half the companies in Hong Kong have price-to-earnings ratios (or &#34;P/E's&#34;) below 12x, you may consider <strong>CALB Group Co., Ltd.</strong> (HKG:3931) as a stock to avoid entirely with its 37.9x P/E ratio. Although, it's not wise to just take the P/E at face value as there may be an explanation why it's so lofty.</p>
<div class="lb-trans"><p>当香港近一半的公司市盈率（或称&#34;P/E&#34;）低于 12 倍时，您可能会考虑完全避开 <strong>中创新航</strong> (HKG:3931)，因为其市盈率高达 37.9 倍。尽管如此，仅仅根据市盈率来判断并不明智，因为可能有解释其如此高的原因。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
</div><p>Recent times have been advantageous for CALB Group as its earnings have been rising faster than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.</p>
<div class="lb-trans"><p>最近一段时间对中创新航来说是有利的，因为其收益增长速度超过了大多数其他公司。市盈率之所以可能较高，是因为投资者认为这种强劲的盈利表现将会持续。您真的希望如此，否则您将为没有特别理由的高价格买单。</p>
</div><p>See our latest analysis for CALB Group</p>
<div class="lb-trans"><p>查看我们对中创新航的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/701667804-pe-multiple-vs-industry-1-dark-2/1766366711062" alt="" original-src="https://images.simplywall.st/asset/chart/701667804-pe-multiple-vs-industry-1-dark-2/1766366711062"/></p>
<p>SEHK:3931 Price to Earnings Ratio vs Industry December 22nd 2025</p>
<div class="lb-trans"><p>SEHK:3931 市盈率与行业比较 2025 年 12 月 22 日</p>
</div><p>Want the full picture on analyst estimates for the company? Then our <strong>free</strong> report on CALB Group will help you uncover what's on the horizon.</p>
<div class="lb-trans"><p>想要了解公司分析师估计的完整情况吗？那么我们 <strong>免费的</strong> 中创新航报告将帮助您揭示未来的趋势。</p>
</div><h2>Does Growth Match The High P/E?</h2>
<div class="lb-trans"><h2>增长是否匹配高市盈率？</h2>
</div><p>There's an inherent assumption that a company should far outperform the market for P/E ratios like CALB Group's to be considered reasonable.</p>
<div class="lb-trans"><p>有一个内在假设，即公司必须远远超越市场，才能使像中创新航这样的市盈率被视为合理。</p>
</div><p>Retrospectively, the last year delivered an exceptional 122% gain to the company's bottom line. Pleasingly, EPS has also lifted 40% in aggregate from three years ago, thanks to the last 12 months of growth. Accordingly, shareholders would have probably welcomed those medium-term rates of earnings growth.</p>
<div class="lb-trans"><p>回顾过去一年，公司实现了 122% 的卓越收益增长。令人欣慰的是，得益于过去 12 个月的增长，每股收益（EPS）也比三年前整体提升了 40%。因此，股东们可能会欢迎这些中期的盈利增长率。</p>
</div><p>Looking ahead now, EPS is anticipated to climb by 48% each year during the coming three years according to the nine analysts following the company. That's shaping up to be materially higher than the 14% each year growth forecast for the broader market.</p>
<div class="lb-trans"><p>展望未来，根据跟踪该公司的九位分析师的预测，预计每股收益将在未来三年内每年增长 48%。这将显著高于更广泛市场预期的每年 14% 的增长。</p>
</div><p>With this information, we can see why CALB Group is trading at such a high P/E compared to the market. It seems most investors are expecting this strong future growth and are willing to pay more for the stock.</p>
<div class="lb-trans"><p>有了这些信息，我们可以看到为什么中创新航的市盈率相较于市场如此之高。似乎大多数投资者都在期待这种强劲的未来增长，并愿意为该股票支付更高的价格。</p>
</div><h2>What We Can Learn From CALB Group's P/E?</h2>
<div class="lb-trans"><h2>我们可以从中创新航的市盈率中学到什么？</h2>
</div><p>We'd say the price-to-earnings ratio's power isn't primarily as a valuation instrument but rather to gauge current investor sentiment and future expectations.</p>
<div class="lb-trans"><p>我们认为市盈率的作用并不主要作为估值工具，而是用来衡量当前投资者情绪和未来预期。</p>
</div><p>We've established that CALB Group maintains its high P/E on the strength of its forecast growth being higher than the wider market, as expected. Right now shareholders are comfortable with the P/E as they are quite confident future earnings aren't under threat. Unless these conditions change, they will continue to provide strong support to the share price.</p>
<div class="lb-trans"><p>我们已经确定，中创新航维持其高市盈率的原因在于其预测增长高于更广泛市场，正如预期的那样。现在，股东们对市盈率感到满意，因为他们相当自信未来的盈利不会受到威胁。除非这些条件发生变化，否则他们将继续为股价提供强有力的支持。</p>
</div><p>You should always think about risks. Case in point, we've spotted <strong>1 warning sign for CALB Group</strong> you should be aware of.</p>
<div class="lb-trans"><p>您应该始终考虑风险。举个例子，我们发现了 <strong>中创新航的 1 个警示信号</strong>，您应该注意。</p>
</div><p>Of course, <strong>you might also be able to find a better stock than CALB Group</strong>. So you may wish to see this <strong>free</strong> collection of other companies that have reasonable P/E ratios and have grown earnings strongly.</p>
<div class="lb-trans"><p>当然，<strong>您也可能找到比中创新航更好的股票</strong>。因此，您可能希望查看这份 <strong>免费的</strong> 其他公司集合，这些公司具有合理的市盈率并且盈利增长强劲。</p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<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型的。它是完全自主的塔楼，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</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>

中创新航集团有限公司（HKG:3931）的收益引起了投资者的关注