14:47 Jul 23, 2013 |
Chinese to English translations [PRO] Bus/Financial - Investment / Securities | |||||||
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| Selected response from: William Xie China Local time: 08:48 | ||||||
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3 | The (end-of-year ) translation of the estimated value |
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3 | 解释如下 |
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3 | Slide |
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The (end-of-year ) translation of the estimated value Explanation: 供参考。 |
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解释如下 Explanation: 市盈率P/E ratio和市净率P/B ratio都属于估值指标valuation metrics; 从上下文看,这里估值应该是指市盈率。 “再加之进入2012年后估值平移至2012年PE” 和“年末估值平移”的大概意思是 报告发布的时候仍是11年,过了年末进入12年之后,price-to-earnings就需要使用12年的预估盈利来计算; 对于高成长性行业的公司或行业来说,盈利增长较快,假设11年的市盈率是25倍(假设股价price=25, EPS每股盈利1; Price to earnings ratio =25/1=25x),进入12年后,P/E需要根据12年的预估盈利数据计算,假设12年每股预估盈利为2,如果保持11年的PE倍数25倍不变,即文中所讲的平移,股价需对应上涨到50 (50/2=25x) 再加之进入2012年后估值平移至2012年PE 建议可以处理为:assuming in 2012 the sector will trade at the same P/E ratio as in 2011 |
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Slide Explanation: Having looked at a few websites, I think it means slide - the 平 here referring to the kind of movement, not the direction. So the first example says: In Q4 sliding PE ratios can sometimes lead to an uptick in prices, but it doesn't always happen. |
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