The price being sold down today, it looks like the market doesn't like the latest financial numbers.
Chart wise, bearish mode.
She had broken the support at 2.i5 and is now trading at 2.67, looks rather bearish. She may go down to test 2.60 than 2.50 and below. Pls dyodd.
Sheng Siong Group’s net profit increases 1.8% to S$44.6 million for 3Q FY2026
• Revenue rose 6.2% yoy to S$441.5 million, driven by new store openings.
• Gross profit margin improved 0.7 percentage points yoy to 32.2% due to a better sales mix.
• The Group opened three stores in 3Q FY2026, bringing the total number of new stores opened in 9M FY2026 to seven.
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：基本面稳健，但短线仍偏谨慎
核心判断：公司经营仍在增长，但市场正在下调此前偏高的估值预期；在股价尚未形成明确止跌结构前，短线风险回报仍不够理想。 对偏长期、重视防御属性和分红的投资者而言，可持续跟踪后续盈利兑现；但当前更关键的是确认利润增速能否重新加快，而不是仅看收入扩张。
Sheng Siong
2.41
-0.01
-0.01(-0.41%)
Nov 05 17:16 SGT
业绩：增长仍在，但利润增速弱于收入
截至 2026Q3：
单季营收 S$441.5m ，同比增长 6.2% ；净利润 S$44.6m ，仅同比增长 1.8% 。收入主要受新增门店推动，2026年前九个月已净增门店贡献增长。
Tiger News
Tiger News
2026年前九个月营收为 S$1.297bn ，同比增长 9.9% ；净利润 S$125.4m ，同比增长 8.0% ；经营利润增长 11.4% 。
但利润率没有同步扩张：9M净利率从上年同期 9.84% 降至 9.67% ，而Q3净利率约 10.10% ，低于2025Q3的 10.53% 。这解释了“营收增长不错、股价却走弱”的矛盾。
毛利率仍具韧性，Q3为 32.2% ；但公司提示，持续促销、人工、运输及电力成本可能继续压制利润率，且2027年起跨境消费竞争可能增强。
Tiger News
解读： 昇菘的扩店策略正在带来可见收入增长，但市场更关注“新增收入能转化为多少增量利润”。若成本上行和促销压力令净利率持续受压，市场给予防御型零售股的溢价可能继续收缩。
估值与财务质量：不是便宜股，但资产负债表可控
股价为 S$2.41 （2026-11-06），对应市值约 S$3.62bn 。
TTM PE 为 22.83x ，PB 为 6.04x ，PS 为 2.15x ；股息率约 3.13% 。
市场对2026财年的一致预期为：营收 S$1.702bn 、EPS S$0.109 。按S$2.41计算，隐含2026年预期PE约为 22.11x （计算结果）。
2025财年营收增长 9.89% 、净利润增长 8.68% ；2026年前九个月的增长延续，但速度没有明显上修。
2026Q3负债率为 40.48% ，流动比率 1.77 、速动比率 1.42