<p><strong>芯成科技控股有限公司</strong> (HKG:365) 的股價在過去一個月回落了相當可觀的 32%，扭轉了其近期的良好表現。實際上，最近的下跌使其過去十二個月的年增幅降至相對温和的 9.8%。</p>
<p>儘管其股價大幅下跌，但考慮到近一半在香港機械行業運營的公司市銷率（或稱&#34;P/S&#34;）低於 0.8 倍，您可能仍然會考慮將芯成科技視為一個潛在的規避股票，因為其市銷率為 1.4 倍。然而，市銷率可能因某種原因而偏高，需要進一步調查以確定其合理性。</p>
<p>特朗普承諾要&#34;釋放&#34;美國的石油和天然氣，這 15 只美國股票的發展有望受益。</p>
<p>請查看我們對芯成科技的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/7655362-ps-multiple-vs-industry-1-dark-2/1762553830563?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/7655362-ps-multiple-vs-industry-1-dark-2/1762553830563"/></p>
<p>SEHK:365 市銷率與行業比較 2025 年 11 月 7 日</p>
<h3>芯成科技的市銷率對股東意味着什麼？</h3>
<p>最近，芯成科技的收入穩步上升，這令人欣慰。也許市場預計這種良好的收入表現將在短期內超越行業，這使得市銷率得以支撐。然而，如果情況並非如此，投資者可能會發現自己為該股票支付了過高的價格。</p>
<p>想要了解公司的盈利、收入和現金流的完整情況嗎？那麼我們對芯成科技的 <strong>免費</strong> 報告將幫助您揭示其歷史表現。</p>
<h2>芯成科技的收入增長預測是否足夠？</h2>
<p>為了證明其市銷率的合理性，芯成科技需要實現超過行業的顯著增長。</p>
<p>回顧過去一年，公司營收實現了 19% 的顯著增長。然而，三年前的總收入幾乎沒有增長，這並不理想。因此，我們認為公司在這段時間內的收入增長結果是喜憂參半的。</p>
<p>這與行業其他公司形成對比，後者預計在未來一年內增長 17%，遠高於公司的近期中期年化增長率。</p>
<p>考慮到這一點，我們發現芯成科技的市銷率超過其行業同行令人擔憂。似乎大多數投資者忽視了近期增長率相對有限的事實，並希望公司業務前景能夠好轉。只有最勇敢的人才會認為這些價格是可持續的，因為近期收入趨勢的持續可能會對股價產生重大壓力。</p>
<h2>關於芯成科技市銷率的結論</h2>
<p>儘管股價暴跌，芯成科技的市銷率仍然很高。我們認為市銷率的作用主要不是作為估值工具，而是用來衡量當前投資者情緒和未來預期。</p>
<p>我們對芯成科技的審查顯示，其三年收入趨勢不佳並沒有像我們想象的那樣對市銷率造成太大影響，因為它們看起來比當前行業預期更糟。現在我們對高市銷率感到不安，因為這種收入表現不太可能長期支持如此積極的情緒。如果近期中期收入趨勢持續下去，將會使股東的投資面臨重大風險，並使潛在投資者面臨支付過高溢價的危險。</p>
<p>話雖如此，請注意 <strong>芯成科技在我們的投資分析中顯示出 4 個警告信號</strong>，其中 3 個令人擔憂。</p>
<p><strong>如果您對過去盈利增長穩健的公司感興趣</strong>，您可能希望查看這份 <strong>免費</strong> 的其他強勁盈利增長和低市盈率公司的集合。</p>

芯成科技

<p>芯成科技（Sino ICT Holdings Limited，股票代碼：HKG:365）在過去一個月的股價下跌了 32%，使其年度收益降至 9.8%。該公司的市銷率（P/S）為 1.4 倍，高於香港機械行業許多同行的平均水平（低於 0.8 倍）。儘管最近的收入增長達到了 19%，但公司在過去三年中一直難以保持穩定的增長。分析師對高市銷率表示擔憂，認為這可能沒有正當理由，因為持續的收入趨勢可能會危及股東投資。目前，該公司顯示出四個警告信號，其中三個令人擔憂</p>

<p><strong>Sino ICT Holdings Limited</strong> (HKG:365) shares have retraced a considerable 32% in the last month, reversing a fair amount of their solid recent performance. Indeed, the recent drop has reduced its annual gain to a relatively sedate 9.8% over the last twelve months.</p>
<div class="lb-trans"><p><strong>芯成科技控股有限公司</strong> (HKG:365) 的股價在過去一個月回落了相當可觀的 32%，扭轉了其近期的良好表現。實際上，最近的下跌使其過去十二個月的年增幅降至相對温和的 9.8%。</p>
</div><p>Although its price has dipped substantially, given close to half the companies operating in Hong Kong's Machinery industry have price-to-sales ratios (or &#34;P/S&#34;) below 0.8x, you may still consider Sino ICT Holdings as a stock to potentially avoid with its 1.4x P/S ratio. However, the P/S might be high for a reason and it requires further investigation to determine if it's justified.</p>
<div class="lb-trans"><p>儘管其股價大幅下跌，但考慮到近一半在香港機械行業運營的公司市銷率（或稱&#34;P/S&#34;）低於 0.8 倍，您可能仍然會考慮將芯成科技視為一個潛在的規避股票，因為其市銷率為 1.4 倍。然而，市銷率可能因某種原因而偏高，需要進一步調查以確定其合理性。</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>特朗普承諾要&#34;釋放&#34;美國的石油和天然氣，這 15 只美國股票的發展有望受益。</p>
</div><p>See our latest analysis for Sino ICT Holdings</p>
<div class="lb-trans"><p>請查看我們對芯成科技的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/7655362-ps-multiple-vs-industry-1-dark-2/1762553830563" alt="" original-src="https://images.simplywall.st/asset/chart/7655362-ps-multiple-vs-industry-1-dark-2/1762553830563"/></p>
<p>SEHK:365 Price to Sales Ratio vs Industry November 7th 2025</p>
<div class="lb-trans"><p>SEHK:365 市銷率與行業比較 2025 年 11 月 7 日</p>
</div><h3>What Does Sino ICT Holdings' P/S Mean For Shareholders?</h3>
<div class="lb-trans"><h3>芯成科技的市銷率對股東意味着什麼？</h3>
</div><p>Revenue has risen firmly for Sino ICT Holdings recently, which is pleasing to see. Perhaps the market is expecting this decent revenue performance to beat out the industry over the near term, which has kept the P/S propped up. However, if this isn't the case, investors might get caught out paying too much for the stock.</p>
<div class="lb-trans"><p>最近，芯成科技的收入穩步上升，這令人欣慰。也許市場預計這種良好的收入表現將在短期內超越行業，這使得市銷率得以支撐。然而，如果情況並非如此，投資者可能會發現自己為該股票支付了過高的價格。</p>
</div><p>Want the full picture on earnings, revenue and cash flow for the company? Then our <strong>free</strong> report on Sino ICT Holdings will help you shine a light on its historical performance.</p>
<div class="lb-trans"><p>想要了解公司的盈利、收入和現金流的完整情況嗎？那麼我們對芯成科技的 <strong>免費</strong> 報告將幫助您揭示其歷史表現。</p>
</div><h2>Is There Enough Revenue Growth Forecasted For Sino ICT Holdings?</h2>
<div class="lb-trans"><h2>芯成科技的收入增長預測是否足夠？</h2>
</div><p>In order to justify its P/S ratio, Sino ICT Holdings would need to produce impressive growth in excess of the industry.</p>
<div class="lb-trans"><p>為了證明其市銷率的合理性，芯成科技需要實現超過行業的顯著增長。</p>
</div><p>Retrospectively, the last year delivered an exceptional 19% gain to the company's top line. Still, revenue has barely risen at all from three years ago in total, which is not ideal. So it appears to us that the company has had a mixed result in terms of growing revenue over that time.</p>
<div class="lb-trans"><p>回顧過去一年，公司營收實現了 19% 的顯著增長。然而，三年前的總收入幾乎沒有增長，這並不理想。因此，我們認為公司在這段時間內的收入增長結果是喜憂參半的。</p>
</div><p>This is in contrast to the rest of the industry, which is expected to grow by 17% over the next year, materially higher than the company's recent medium-term annualised growth rates.</p>
<div class="lb-trans"><p>這與行業其他公司形成對比，後者預計在未來一年內增長 17%，遠高於公司的近期中期年化增長率。</p>
</div><p>With this in mind, we find it worrying that Sino ICT Holdings' P/S exceeds that of its industry peers. It seems most investors are ignoring the fairly limited recent growth rates and are hoping for a turnaround in the company's business prospects. Only the boldest would assume these prices are sustainable as a continuation of recent revenue trends is likely to weigh heavily on the share price eventually.</p>
<div class="lb-trans"><p>考慮到這一點，我們發現芯成科技的市銷率超過其行業同行令人擔憂。似乎大多數投資者忽視了近期增長率相對有限的事實，並希望公司業務前景能夠好轉。只有最勇敢的人才會認為這些價格是可持續的，因為近期收入趨勢的持續可能會對股價產生重大壓力。</p>
</div><h2>The Bottom Line On Sino ICT Holdings' P/S</h2>
<div class="lb-trans"><h2>關於芯成科技市銷率的結論</h2>
</div><p>Sino ICT Holdings' P/S remain high even after its stock plunged. We'd say the price-to-sales 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>儘管股價暴跌，芯成科技的市銷率仍然很高。我們認為市銷率的作用主要不是作為估值工具，而是用來衡量當前投資者情緒和未來預期。</p>
</div><p>Our examination of Sino ICT Holdings revealed its poor three-year revenue trends aren't detracting from the P/S as much as we though, given they look worse than current industry expectations. Right now we aren't comfortable with the high P/S as this revenue performance isn't likely to support such positive sentiment for long. If recent medium-term revenue trends continue, it will place shareholders' investments at significant risk and potential investors in danger of paying an excessive premium.</p>
<div class="lb-trans"><p>我們對芯成科技的審查顯示，其三年收入趨勢不佳並沒有像我們想象的那樣對市銷率造成太大影響，因為它們看起來比當前行業預期更糟。現在我們對高市銷率感到不安，因為這種收入表現不太可能長期支持如此積極的情緒。如果近期中期收入趨勢持續下去，將會使股東的投資面臨重大風險，並使潛在投資者面臨支付過高溢價的危險。</p>
</div><p>Having said that, be aware <strong>Sino ICT Holdings is showing 4 warning signs</strong> in our investment analysis, and 3 of those are concerning.</p>
<div class="lb-trans"><p>話雖如此，請注意 <strong>芯成科技在我們的投資分析中顯示出 4 個警告信號</strong>，其中 3 個令人擔憂。</p>
</div><p><strong>If companies with solid past earnings growth is up your alley</strong>, you may wish to see this <strong>free</strong> collection of other companies with strong earnings growth and low P/E ratios.</p>
<div class="lb-trans"><p><strong>如果您對過去盈利增長穩健的公司感興趣</strong>，您可能希望查看這份 <strong>免費</strong> 的其他強勁盈利增長和低市盈率公司的集合。</p>
</div>

芯成科技控股有限公司（HKG:365）股價下跌 32%，仍然讓一些股東對其市銷率感到不安