<p><strong>第一上海投資有限公司</strong>（HKG:227）的股價在過去 30 天內大幅下跌了 27%，回吐了近期的許多漲幅。從更大的角度來看，即使在這個糟糕的月份之後，該股在過去一年中仍上漲了 83%。</p>
<p>在如此大幅的價格下跌之後，第一上海投資的市銷率（&#34;P/S&#34;）為 1.4 倍，與香港資本市場行業相比，可能看起來像是一個買入機會，因為該行業大約一半的公司市銷率超過 2.8 倍，甚至超過 8 倍的市銷率也相當普遍。不過，僅僅根據市銷率來判斷並不明智，因為可能有解釋説明其限制。</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>查看我們對第一上海投資的最新分析</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 市銷率與行業比較 2025 年 4 月 14 日</p>
<h3>第一上海投資最近的表現如何？</h3>
<p>第一上海投資最近的表現確實很好，因為它的收入增長速度非常快。一個可能性是，市銷率較低是因為投資者認為這種強勁的收入增長在不久的將來可能會表現不如更廣泛的行業。如果這種情況沒有發生，那麼現有股東有理由對股價的未來方向感到相當樂觀。</p>
<p>我們沒有分析師的預測，但您可以通過查看我們對第一上海投資的 <strong>免費</strong> 報告，瞭解最近的趨勢如何為公司的未來鋪路，包括收益、收入和現金流。</p>
<h2>第一上海投資是否有收入增長的預測？</h2>
<p>第一上海投資的市銷率對於一家預計僅會實現有限增長的公司來説是典型的，重要的是，它的表現還會遜色於行業。</p>
<p>回顧一下，我們看到該公司去年收入增長了令人印象深刻的 31%。然而，這還不夠，因為最近三年期間，該公司的收入總共下降了 28%。因此，股東們對中期收入增長的速度感到沮喪。</p>
<p>與該公司相比，行業其他公司預計在明年將增長 34%，這確實讓該公司最近的中期收入下降顯得更加突出。</p>
<p>考慮到這一點，我們理解為什麼第一上海投資的市銷率低於大多數同行。然而，我們認為收入縮減不太可能在長期內導致穩定的市銷率，這可能會讓股東在未來感到失望。即使只是維持這些價格也可能很難實現，因為最近的收入趨勢已經對股價造成了壓力。</p>
<h2>關鍵要點</h2>
<p>第一上海投資的市銷率隨着其股價的下跌而下降。雖然市銷率不應成為您是否購買股票的決定性因素，但它是收入預期的一個相當有效的晴雨表。</p>
<p>正如我們所懷疑的，我們對第一上海投資的檢查顯示，其中期收入的縮減正在導致其低市銷率，因為行業預計將增長。現在，股東們接受低市銷率，因為他們承認未來的收入可能不會帶來任何令人愉快的驚喜。除非最近的中期條件改善，否則它們將繼續在這些水平上形成股價的障礙。</p>
<p>還值得注意的是，我們發現 <strong>第一上海投資的 3 個警告信號</strong>，您需要考慮。</p>
<p>如果您對第一上海投資的業務實力 <strong>不確定</strong>，為什麼不探索我們互動的股票列表，尋找一些您可能錯過的具有良好商業基礎的其他公司呢？</p>
<p>如果您想交易第一上海投資，請在專業人士信賴的最低成本平台 Interactive Brokers 開設賬户。</p>
<p>IBKR 在 200 多個國家和地區擁有客户，並可訪問 160 個市場，讓您可以通過一個集成賬户交易股票、期權、期貨、外匯、債券和基金。</p>
<p>享受無隱藏費用、無賬户最低限額，外匯轉換率低至 0.03%，遠低於大多數經紀商提供的水平。</p>
<p>贊助內容</p>

第一上海

<p>第一上海投資有限公司（HKG:227）的股價在過去一個月下跌了 27%，儘管在過去一年中上漲了 83%。該公司的市銷率（P/S）為 1.4 倍，低於許多行業同行，顯示出對未來收入增長的潛在擔憂。儘管公司去年經歷了 31% 的收入增長，但在過去三年中卻面臨 28% 的下降。預計該行業明年將增長 34%，這突顯了第一上海面臨的挑戰。除非收入狀況改善，否則股東可能會感到失望</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>第一上海投資有限公司</strong>（HKG:227）的股價在過去 30 天內大幅下跌了 27%，回吐了近期的許多漲幅。從更大的角度來看，即使在這個糟糕的月份之後，該股在過去一年中仍上漲了 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>在如此大幅的價格下跌之後，第一上海投資的市銷率（&#34;P/S&#34;）為 1.4 倍，與香港資本市場行業相比，可能看起來像是一個買入機會，因為該行業大約一半的公司市銷率超過 2.8 倍，甚至超過 8 倍的市銷率也相當普遍。不過，僅僅根據市銷率來判斷並不明智，因為可能有解釋説明其限制。</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>Check out our latest analysis for First Shanghai Investments</p>
<div class="lb-trans"><p>查看我們對第一上海投資的最新分析</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 市銷率與行業比較 2025 年 4 月 14 日</p>
</div><h3>How Has First Shanghai Investments Performed Recently?</h3>
<div class="lb-trans"><h3>第一上海投資最近的表現如何？</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>第一上海投資最近的表現確實很好，因為它的收入增長速度非常快。一個可能性是，市銷率較低是因為投資者認為這種強勁的收入增長在不久的將來可能會表現不如更廣泛的行業。如果這種情況沒有發生，那麼現有股東有理由對股價的未來方向感到相當樂觀。</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>我們沒有分析師的預測，但您可以通過查看我們對第一上海投資的 <strong>免費</strong> 報告，瞭解最近的趨勢如何為公司的未來鋪路，包括收益、收入和現金流。</p>
</div><h2>Is There Any Revenue Growth Forecasted For First Shanghai Investments?</h2>
<div class="lb-trans"><h2>第一上海投資是否有收入增長的預測？</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>第一上海投資的市銷率對於一家預計僅會實現有限增長的公司來説是典型的，重要的是，它的表現還會遜色於行業。</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>回顧一下，我們看到該公司去年收入增長了令人印象深刻的 31%。然而，這還不夠，因為最近三年期間，該公司的收入總共下降了 28%。因此，股東們對中期收入增長的速度感到沮喪。</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>與該公司相比，行業其他公司預計在明年將增長 34%，這確實讓該公司最近的中期收入下降顯得更加突出。</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>考慮到這一點，我們理解為什麼第一上海投資的市銷率低於大多數同行。然而，我們認為收入縮減不太可能在長期內導致穩定的市銷率，這可能會讓股東在未來感到失望。即使只是維持這些價格也可能很難實現，因為最近的收入趨勢已經對股價造成了壓力。</p>
</div><h2>The Key Takeaway</h2>
<div class="lb-trans"><h2>關鍵要點</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>第一上海投資的市銷率隨着其股價的下跌而下降。雖然市銷率不應成為您是否購買股票的決定性因素，但它是收入預期的一個相當有效的晴雨表。</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>正如我們所懷疑的，我們對第一上海投資的檢查顯示，其中期收入的縮減正在導致其低市銷率，因為行業預計將增長。現在，股東們接受低市銷率，因為他們承認未來的收入可能不會帶來任何令人愉快的驚喜。除非最近的中期條件改善，否則它們將繼續在這些水平上形成股價的障礙。</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>還值得注意的是，我們發現 <strong>第一上海投資的 3 個警告信號</strong>，您需要考慮。</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>如果您對第一上海投資的業務實力 <strong>不確定</strong>，為什麼不探索我們互動的股票列表，尋找一些您可能錯過的具有良好商業基礎的其他公司呢？</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資，請在專業人士信賴的最低成本平台 Interactive Brokers 開設賬户。</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 多個國家和地區擁有客户，並可訪問 160 個市場，讓您可以通過一個集成賬户交易股票、期權、期貨、外匯、債券和基金。</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>享受無隱藏費用、無賬户最低限額，外匯轉換率低至 0.03%，遠低於大多數經紀商提供的水平。</p>
</div><p>Sponsored Content</p>
<div class="lb-trans"><p>贊助內容</p>
</div>

由於第一上海投資有限公司（HKG:227）的收入幾乎沒有引起任何興奮，其股價遭受了 27% 的重挫