<p>有些股票最好避免。我们真的不希望看到投资者失去他们辛苦赚来的钱。想想那些持有 <strong>中手游</strong> (HKG:302) 整整五年的投资者吧——股价暴跌了 86%。而且不仅仅是长期持有者受到影响，因为该股票在过去一年下跌了 45%。此外，过去大约一个季度内股价下跌了 16%。对于持有者来说，这并不好受。在这种情况下，我们真的为股东感到难过。这提醒我们多样化投资的重要性，值得记住的是，生活中还有比金钱更重要的东西。</p>
<p>更令人鼓舞的是，公司在过去 7 天内增加了 1.35 亿港元的市值，所以让我们看看是什么导致了股东在过去五年中的损失。</p>
<p>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
<p>鉴于中手游在过去 12 个月内没有盈利，我们将关注收入增长，以快速了解其业务发展。当一家公司没有盈利时，我们通常希望看到良好的收入增长。这是因为如果收入增长微不足道，而公司从未盈利，我们很难对其可持续性充满信心。</p>
<p>在过去五年中，中手游每年的收入减少了 16%。这显然是比大多数未盈利公司报告的结果要弱得多。因此，股价在此期间每年下跌 13% 也就不足为奇了。这种价格表现让我们非常警惕，尤其是当它与收入下降相结合时。具有讽刺意味的是，这种行为可能为逆向投资者创造机会——但前提是有充分的理由预测更光明的未来。</p>
<p>您可以在下面的图像中看到收益和收入随时间的变化（点击图表查看确切数值）。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/641053551-earnings-and-revenue-growth-1-dark-2/1767398290554?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/641053551-earnings-and-revenue-growth-1-dark-2/1767398290554"/></p>
<p>SEHK:302 收益和收入增长 2026 年 1 月 2 日</p>
<p>如果您考虑购买或出售中手游股票，您应该查看这份 <strong>免费</strong> 的详细资产负债表报告。</p>
<h2>不同的视角</h2>
<p>虽然大盘在过去一年上涨了约 35%，但中手游的股东却损失了 45%。即使是优质股票的股价有时也会下跌，但我们希望在对业务产生浓厚兴趣之前，看到基本指标的改善。遗憾的是，去年的表现结束了一段糟糕的时期，股东在五年内面临每年 13% 的总损失。我们意识到巴伦·罗斯柴尔德曾说过投资者应该在 “街上有血时买入”，但我们提醒投资者首先要确保他们购买的是高质量的企业。我发现从长远来看观察股价作为业务表现的代理指标非常有趣。但要真正获得洞察，我们还需要考虑其他信息。即便如此，请注意，中手游在我们的投资分析中显示出 <strong>2 个警告信号</strong>，其中 1 个令人担忧……</p>
<p>如果您喜欢与管理层一起购买股票，那么您可能会喜欢这份 <strong>免费</strong> 的公司名单。（提示：其中许多公司不被关注，并且估值吸引人）。</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>
<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型的。它是完全自主的塔，在 30 分钟内提供 5G、ISR 和雷达，随处可用。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

中手游

<p>在中手游（CMGE Technology Group，HKG:302）的投资者面临重大损失，过去五年股价下跌了 86%，去年则下降了 45%。尽管最近上涨了 12%，但公司的收入年均下降了 16%，引发了对其可持续性的担忧。更广泛的市场则上涨了 35%，突显出业绩的明显对比。投资者被提醒在做出决策之前考虑公司的基本面，因为投资分析中存在警示信号</p>

<p>Some stocks are best avoided. We really hate to see fellow investors lose their hard-earned money. Spare a thought for those who held <strong>CMGE Technology Group Limited</strong> (HKG:302) for five whole years - as the share price tanked 86%. And it's not just long term holders hurting, because the stock is down 45% in the last year. Furthermore, it's down 16% in about a quarter. That's not much fun for holders. We really feel for shareholders in this scenario. It's a good reminder of the importance of diversification, and it's worth keeping in mind there's more to life than money, anyway.</p>
<div class="lb-trans"><p>有些股票最好避免。我们真的不希望看到投资者失去他们辛苦赚来的钱。想想那些持有 <strong>中手游</strong> (HKG:302) 整整五年的投资者吧——股价暴跌了 86%。而且不仅仅是长期持有者受到影响，因为该股票在过去一年下跌了 45%。此外，过去大约一个季度内股价下跌了 16%。对于持有者来说，这并不好受。在这种情况下，我们真的为股东感到难过。这提醒我们多样化投资的重要性，值得记住的是，生活中还有比金钱更重要的东西。</p>
</div><p>On a more encouraging note the company has added HK$135m to its market cap in just the last 7 days, so let's see if we can determine what's driven the five-year loss for shareholders.</p>
<div class="lb-trans"><p>更令人鼓舞的是，公司在过去 7 天内增加了 1.35 亿港元的市值，所以让我们看看是什么导致了股东在过去五年中的损失。</p>
</div><p>Trump has pledged to &#34;unleash&#34; American oil and gas and these 15 US stocks have developments that are poised to benefit.</p>
<div class="lb-trans"><p>特朗普承诺要 “释放” 美国的石油和天然气，这 15 只美国股票的发展将受益。</p>
</div><p>Given that CMGE Technology Group didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. When a company doesn't make profits, we'd generally hope to see good revenue growth. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit.</p>
<div class="lb-trans"><p>鉴于中手游在过去 12 个月内没有盈利，我们将关注收入增长，以快速了解其业务发展。当一家公司没有盈利时，我们通常希望看到良好的收入增长。这是因为如果收入增长微不足道，而公司从未盈利，我们很难对其可持续性充满信心。</p>
</div><p>Over half a decade CMGE Technology Group reduced its trailing twelve month revenue by 16% for each year. That's definitely a weaker result than most pre-profit companies report. So it's not that strange that the share price dropped 13% per year in that period. This kind of price performance makes us very wary, especially when combined with falling revenue. Ironically, that behavior could create an opportunity for the contrarian investor - but only if there are good reasons to predict a brighter future.</p>
<div class="lb-trans"><p>在过去五年中，中手游每年的收入减少了 16%。这显然是比大多数未盈利公司报告的结果要弱得多。因此，股价在此期间每年下跌 13% 也就不足为奇了。这种价格表现让我们非常警惕，尤其是当它与收入下降相结合时。具有讽刺意味的是，这种行为可能为逆向投资者创造机会——但前提是有充分的理由预测更光明的未来。</p>
</div><p>You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values).</p>
<div class="lb-trans"><p>您可以在下面的图像中看到收益和收入随时间的变化（点击图表查看确切数值）。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/641053551-earnings-and-revenue-growth-1-dark-2/1767398290554" alt="" original-src="https://images.simplywall.st/asset/chart/641053551-earnings-and-revenue-growth-1-dark-2/1767398290554"/></p>
<p>SEHK:302 Earnings and Revenue Growth January 2nd 2026</p>
<div class="lb-trans"><p>SEHK:302 收益和收入增长 2026 年 1 月 2 日</p>
</div><p>If you are thinking of buying or selling CMGE Technology Group stock, you should check out this <strong>FREE</strong> detailed report on its balance sheet.</p>
<div class="lb-trans"><p>如果您考虑购买或出售中手游股票，您应该查看这份 <strong>免费</strong> 的详细资产负债表报告。</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, CMGE Technology Group shareholders lost 45%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 13% per year over five years. We realise that Baron Rothschild has said investors should &#34;buy when there is blood on the streets&#34;, but we caution that investors should first be sure they are buying a high quality business. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. Even so, be aware that CMGE Technology Group is showing <strong>2 warning signs in our investment analysis</strong> , and 1 of those is concerning...</p>
<div class="lb-trans"><p>虽然大盘在过去一年上涨了约 35%，但中手游的股东却损失了 45%。即使是优质股票的股价有时也会下跌，但我们希望在对业务产生浓厚兴趣之前，看到基本指标的改善。遗憾的是，去年的表现结束了一段糟糕的时期，股东在五年内面临每年 13% 的总损失。我们意识到巴伦·罗斯柴尔德曾说过投资者应该在 “街上有血时买入”，但我们提醒投资者首先要确保他们购买的是高质量的企业。我发现从长远来看观察股价作为业务表现的代理指标非常有趣。但要真正获得洞察，我们还需要考虑其他信息。即便如此，请注意，中手游在我们的投资分析中显示出 <strong>2 个警告信号</strong>，其中 1 个令人担忧……</p>
</div><p>If you like to buy stocks alongside management, then you might just love this <strong>free</strong> list of companies. (Hint: many of them are unnoticed AND have attractive valuation).</p>
<div class="lb-trans"><p>如果您喜欢与管理层一起购买股票，那么您可能会喜欢这份 <strong>免费</strong> 的公司名单。（提示：其中许多公司不被关注，并且估值吸引人）。</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><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，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>

五年前投资中手游科技集团（HKG:302）的投资者，即便该股在过去一周上涨了 12%，仍然亏损 85%