<p>一般來説，長期投資是明智之舉。但在這個過程中，一些股票的表現會很糟糕。例如，在漫長的五年後，<strong>萊蒙國際</strong>（HKG:3688）的股價下降了整整 62%。這至少可以説是極其不理想。而一些最近的買家可能也會感到擔憂，因為該股票在過去一年中下跌了 30%。股東們的處境更為艱難，股價在過去 90 天內下跌了 29%。</p>
<p>在過去一週，股價下跌了 13%，值得關注一下公司的業績，看看是否存在任何警示信號。</p>
<p>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</p>
<p>萊蒙國際目前尚未盈利，因此大多數分析師會關注收入增長，以瞭解基礎業務的增長速度。一般來説，未盈利的公司預計每年都能實現收入增長，並且增長速度良好。一些公司願意推遲盈利以更快地增長收入，但在這種情況下，人們希望能有良好的收入增長來彌補缺乏盈利。</p>
<p>在過去五年中，萊蒙國際的收入年均增長 20%。這比大多數虧損公司的表現要好。相比之下，股價平均每年損失 10%——這相當令人失望。可以肯定地説，投資者的預期現在更加務實。如果你認為公司能夠保持收入增長，你就必須考慮這裏可能存在的機會。</p>
<p>公司的收入和盈利（隨時間變化）在下圖中展示（點擊查看具體數字）。</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 收益和收入增長 2025 年 3 月 28 日</p>
<p>通過這份 <strong>免費</strong> 的資產負債表報告，更深入地瞭解萊蒙國際的財務健康狀況。</p>
<h2>總股東回報（TSR）如何？</h2>
<p>我們不能不提到萊蒙國際的_總股東回報_（TSR）與其_股價回報_之間的差異。TSR 試圖捕捉股息的價值（就像它們被再投資一樣），以及任何分拆或向股東提供的折扣融資。股息對萊蒙國際的股東非常有利，這筆現金支付解釋了為什麼在過去五年中，其總股東損失 58% 並不如股價回報那麼糟糕。</p>
<h2>不同的視角</h2>
<p>雖然大盤在過去一年中上漲了約 35%，但萊蒙國際的股東卻損失了 30%。然而，請記住，即使是最好的股票，有時在十二個月的時間裏也會表現不佳。不幸的是，去年的表現可能表明尚未解決的挑戰，因為它比過去五年年化損失 10% 還要糟糕。一般來説，長期股價疲軟可能是一個壞兆頭，儘管逆向投資者可能希望研究該股票以期反彈。長期跟蹤股價表現總是很有趣。但要更好地理解萊蒙國際，我們需要考慮許多其他因素。例如，投資風險的無處不在的陰影。<strong>我們已經識別出萊蒙國際的 3 個警示信號</strong>（至少有 2 個讓我們感到不安），理解這些信號應該是你投資過程的一部分。</p>
<p>當然，<strong>萊蒙國際可能不是最佳的投資股票</strong>。所以你可能想看看這份 <strong>免費</strong> 的成長股集合。</p>
<p><em>請注意，本文中引用的市場回報反映了目前在香港交易所交易的股票的市場加權平均回報。</em></p>

萊蒙國際

<p>萊蒙國際（HKG:3688）的股價出現顯著下跌，過去五年下跌了 58%，去年下跌了 30%。最近，該股票在短短一週內下跌了 13%。儘管公司年均收入增長 20%，但仍未實現盈利，導致股價表現令人失望。由於分紅，總股東回報（TSR）表現較好，但股票的長期疲軟引發了擔憂。建議投資者在投資前考慮潛在的風險和挑戰</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>一般來説，長期投資是明智之舉。但在這個過程中，一些股票的表現會很糟糕。例如，在漫長的五年後，<strong>萊蒙國際</strong>（HKG:3688）的股價下降了整整 62%。這至少可以説是極其不理想。而一些最近的買家可能也會感到擔憂，因為該股票在過去一年中下跌了 30%。股東們的處境更為艱難，股價在過去 90 天內下跌了 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>在過去一週，股價下跌了 13%，值得關注一下公司的業績，看看是否存在任何警示信號。</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>我們發現 21 只美國股票預計明年將支付超過 6% 的股息收益率。查看完整列表，免費獲取。</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>萊蒙國際目前尚未盈利，因此大多數分析師會關注收入增長，以瞭解基礎業務的增長速度。一般來説，未盈利的公司預計每年都能實現收入增長，並且增長速度良好。一些公司願意推遲盈利以更快地增長收入，但在這種情況下，人們希望能有良好的收入增長來彌補缺乏盈利。</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>在過去五年中，萊蒙國際的收入年均增長 20%。這比大多數虧損公司的表現要好。相比之下，股價平均每年損失 10%——這相當令人失望。可以肯定地説，投資者的預期現在更加務實。如果你認為公司能夠保持收入增長，你就必須考慮這裏可能存在的機會。</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（隨時間變化）在下圖中展示（點擊查看具體數字）。</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 收益和收入增長 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>通過這份 <strong>免費</strong> 的資產負債表報告，更深入地瞭解萊蒙國際的財務健康狀況。</p>
</div><h2>What About The Total Shareholder Return (TSR)?</h2>
<div class="lb-trans"><h2>總股東回報（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>我們不能不提到萊蒙國際的_總股東回報_（TSR）與其_股價回報_之間的差異。TSR 試圖捕捉股息的價值（就像它們被再投資一樣），以及任何分拆或向股東提供的折扣融資。股息對萊蒙國際的股東非常有利，這筆現金支付解釋了為什麼在過去五年中，其總股東損失 58% 並不如股價回報那麼糟糕。</p>
</div><h2>A Different Perspective</h2>
<div class="lb-trans"><h2>不同的視角</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>雖然大盤在過去一年中上漲了約 35%，但萊蒙國際的股東卻損失了 30%。然而，請記住，即使是最好的股票，有時在十二個月的時間裏也會表現不佳。不幸的是，去年的表現可能表明尚未解決的挑戰，因為它比過去五年年化損失 10% 還要糟糕。一般來説，長期股價疲軟可能是一個壞兆頭，儘管逆向投資者可能希望研究該股票以期反彈。長期跟蹤股價表現總是很有趣。但要更好地理解萊蒙國際，我們需要考慮許多其他因素。例如，投資風險的無處不在的陰影。<strong>我們已經識別出萊蒙國際的 3 個警示信號</strong>（至少有 2 個讓我們感到不安），理解這些信號應該是你投資過程的一部分。</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>當然，<strong>萊蒙國際可能不是最佳的投資股票</strong>。所以你可能想看看這份 <strong>免費</strong> 的成長股集合。</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>請注意，本文中引用的市場回報反映了目前在香港交易所交易的股票的市場加權平均回報。</em></p>
</div>

萊蒙國際控股有限公司（HKG:3688）的股東損失了 58%，因為該股在過去一週內下跌了 13%