Cash flow China Hongqiao Group Limited

Equities

1378

KYG211501005

Aluminum

Market Closed - Hong Kong S.E. Other stock markets 09:08:05 13/09/2024 BST			5-day change	1st Jan Change
9.990 ^HKD	+2.36%		-0.10%	+56.34%

08-23	China Hongqiao Group to Gain From Strong Industry Conditions, But Short-Term Debt Reliance a Key Weakness, S&P Says	MT
08-19	China Hongqiao Group's H1 Attributable Profit Soars 273%	MT

093524e508632c832.cOiA02I-oFVb44FLdhiWBIF2Q3P8gfNLlDQ_leIis58.CN7YtC5VxT0Lp_UcFyzJfuokEzHP9ZEU4AwH76VR_Ms_ubaDM3PDZDqg9g

Published financial data: CHINA HONGQIAO GROUP LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	84.18B	86.14B	114B	132B	134B
Total Revenues	84.18B	86.14B	114B	132B	134B
Cost of Goods Sold, Total	67.74B	66.81B	84.13B	114B	113B
Gross Profit	16.44B	19.34B	30.36B	18.16B	20.84B
Selling General & Admin Expenses, Total	4.09B	4.45B	6.23B	6.53B	5.71B
Other Operating Expenses	15.85M	17.48M	756K	82K	620K
Other Operating Expenses, Total	4.11B	4.47B	6.23B	6.53B	5.71B
Operating Income	12.33B	14.87B	24.13B	11.62B	15.13B
Interest Expense, Total	-5.22B	-4.51B	-3.63B	-3.02B	-3.27B
Interest And Investment Income	420M	621M	731M	701M	1.02B
Net Interest Expenses	-4.8B	-3.89B	-2.89B	-2.32B	-2.24B
Income (Loss) On Equity Invest.	509M	515M	61.52M	503M	1.19B
Currency Exchange Gains (Loss)	-	321M	394M	-	-
Other Non Operating Income (Expenses)	1.42B	1.38B	2.26B	3.16B	2.54B
EBT, Excl. Unusual Items	9.45B	13.2B	23.95B	12.97B	16.62B
Merger & Related Restructuring Charges	-240K	-	-580K	-	-
Impairment of Goodwill	-	-331M	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-117M	-185M	21.05M
Gain (Loss) On Sale Of Assets	401M	1.41M	-	22.78M	69.94M
Asset Writedown	-762M	-162M	-1.39B	-225M	-818M
Insurance Settlements	153M	-	-	-	-
Other Unusual Items	-476M	-	107M	20.52M	-
EBT, Incl. Unusual Items	8.77B	12.7B	22.55B	12.61B	15.89B
Income Tax Expense	2.32B	2.26B	5.71B	2.8B	3.39B
Earnings From Continuing Operations	6.46B	10.44B	16.85B	9.81B	12.5B
Net Income to Company	6.46B	10.44B	16.85B	9.81B	12.5B
Minority Interest	-360M	51.18M	-775M	-1.11B	-1.04B
Net Income - (IS)	6.1B	10.5B	16.07B	8.7B	11.46B
Net Income to Common Incl Extra Items	6.1B	10.5B	16.07B	8.7B	11.46B
Net Income to Common Excl. Extra Items	6.1B	10.5B	16.07B	8.7B	11.46B
Per Share Items
Net EPS - Basic	0.71	1.22	1.77	0.94	1.21
Basic EPS - Continuing Operations	0.71	1.22	1.77	0.94	1.21
Basic Weighted Average Shares Outstanding	8.6B	8.6B	9.07B	9.3B	9.48B
Net EPS - Diluted	0.7	1.22	1.71	0.94	1.2
Diluted EPS - Continuing Operations	0.7	1.22	1.71	0.94	1.2
Diluted Weighted Average Shares Outstanding	8.86B	8.6B	9.66B	9.3B	9.8B
Normalized Basic EPS	0.65	0.97	1.56	0.75	0.99
Normalized Diluted EPS	0.63	0.97	1.47	0.75	0.95
Dividend Per Share	0.3	0.55	0.86	0.45	0.37
Payout Ratio	31.52	35.9	44.7	102.51	38.12
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	19.55B	21.56B	30.65B	18.4B	22.09B
EBITA	12.33B	14.87B	24.13B	11.63B	15.13B
EBIT	12.33B	14.87B	24.13B	11.62B	15.13B
EBITDAR	19.55B	-	30.68B	-	-
Effective Tax Rate - (Ratio)	26.4	17.79	25.3	22.19	21.35
Current Domestic Taxes	-	2.84B	5.39B	-	-
Current Foreign Taxes	-	39.55M	137M	-	-
Total Current Taxes	2.48B	2.88B	5.52B	3.09B	3.94B
Total Deferred Taxes	-168M	-623M	183M	-291M	-545M
Normalized Net Income	5.55B	8.3B	14.2B	7B	9.35B
Interest Capitalized	-	-	128M	415M	563M
Interest on Long-Term Debt	3.24B	2.68B	1.91B	1.19B	1.12B
Supplemental Operating Expense Items
Selling and Marketing Expenses	449M	400M	526M	598M	755M
General and Administrative Expenses	3.65B	4.05B	5.71B	5.93B	4.95B
Research And Development Expense From Footnotes	800M	703M	851M	986M	1.01B
Net Rental Expense, Total	176K	-	25.94M	-	-
Imputed Operating Lease Interest Expense	91.19K	-	11.52M	-	-
Imputed Operating Lease Depreciation	84.81K	-	14.43M	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	41.86B	45.47B	49.23B	27.38B	31.72B
Trading Asset Securities, Total	2M	-	99K	2.12M	-
Total Cash And Short Term Investments	41.86B	45.47B	49.23B	27.39B	31.72B
Accounts Receivable, Total	21.67B	19.96B	19.53B	10.57B	11.05B
Other Receivables	2.33B	3.43B	3.58B	4.1B	3.36B
Notes Receivable	-	2B	-	-	-
Total Receivables	24B	25.4B	23.11B	14.67B	14.41B
Inventory	21.85B	19.72B	22.71B	37.27B	33.96B
Prepaid Expenses	2.44B	3.62B	3.63B	661M	930M
Other Current Assets, Total	3.05B	3.24B	4.86B	7.58B	6.38B
Total Current Assets	93.19B	97.43B	104B	87.57B	87.39B
Gross Property Plant And Equipment	118B	111B	117B	130B	140B
Accumulated Depreciation	-41.89B	-40.81B	-48.06B	-54.12B	-59.8B
Net Property Plant And Equipment	76.17B	70.4B	69.16B	75.73B	79.88B
Long-term Investments	5.01B	9.81B	9.62B	14.34B	26.65B
Goodwill	609M	278M	278M	278M	278M
Other Intangibles, Total	24.88M	27.43M	32.6M	34.29M	42.91M
Loans Receivable Long-Term	2B	-	2B	2B	2B
Deferred Tax Assets Long-Term	2.08B	2.89B	2.62B	2.61B	2.99B
Other Long-Term Assets, Total	514M	695M	1.18B	3.19B	1.08B
Total Assets	180B	182B	188B	186B	200B
Liabilities
Accounts Payable, Total	18.22B	13.38B	18.74B	14.91B	11.65B
Accrued Expenses, Total	3.43B	4.34B	3B	3B	2.44B
Short-term Borrowings	-	-	1.5B	3B	7B
Current Portion of Long-Term Debt	31.95B	45.56B	27.88B	40.43B	42.12B
Current Portion of Leases	28.87M	25.08M	10.37M	16.16M	37.95M
Current Income Taxes Payable	1.73B	2.27B	2.72B	618M	2.59B
Unearned Revenue Current, Total	2.4B	1.27B	1.79B	1.79B	1.24B
Other Current Liabilities	7.57B	6.51B	7.43B	7.6B	6.96B
Total Current Liabilities	65.32B	73.35B	63.07B	71.37B	74.03B
Long-Term Debt	46.66B	29.29B	30.97B	16.24B	13.79B
Long-Term Leases	61.86M	58.61M	51.36M	51.76M	917M
Unearned Revenue Non Current	549M	582M	835M	794M	1.48B
Deferred Tax Liability Non Current	722M	900M	814M	524M	364M
Other Non Current Liabilities	280M	550M	241M	457M	3.49B
Total Liabilities	114B	105B	95.98B	89.44B	94.06B
Common Stock, Total	559M	579M	595M	619M	619M
Additional Paid In Capital	19.31B	20.91B	22.83B	25.04B	-
Retained Earnings	42.92B	49.65B	58.54B	59.02B	-
Comprehensive Income and Other	376M	55M	-662M	-179M	91.63B
Total Common Equity	63.16B	71.2B	81.31B	84.5B	92.24B
Minority Interest	2.85B	5.61B	11.13B	11.81B	14.01B
Total Equity	66.02B	76.8B	92.44B	96.31B	106B
Total Liabilities And Equity	180B	182B	188B	186B	200B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8.57B	8.88B	9.12B	9.48B	9.48B
ECS Total Common Shares Outstanding	8.57B	8.88B	9.12B	9.48B	9.48B
Book Value / Share	7.37	8.02	8.91	8.92	9.74
Tangible Book Value	62.53B	70.89B	81B	84.19B	91.92B
Tangible Book Value Per Share	7.3	7.98	8.88	8.88	9.7
Total Debt	78.69B	74.93B	60.41B	59.74B	63.86B
Net Debt	36.83B	29.46B	11.18B	32.35B	32.14B
Debt Equivalent Oper. Leases	1.41M	-	208M	-	-
Minority Interest, Total (Incl. Fin. Div)	2.85B	5.61B	11.13B	11.81B	14.01B
Equity Method Investments, Total	4.72B	6.68B	6.06B	10.3B	11.03B
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	14.29B	13.18B	13.99B	25.6B	22.37B
Inventories - Work In Process, Total	7B	6.02B	8.15B	10.27B	9.32B
Inventories - Finished Goods, Total	559M	521M	558M	1.4B	2.26B
Buildings, Total	39.54B	40.2B	40.75B	47.8B	51.39B
Machinery, Total	70.92B	61.04B	61.78B	66.41B	68.56B
Full Time Employees	43.73K	42.44K	42.65K	46.65K	48.91K
Accumulated Allowance for Doubtful Accounts (Supple)	7M	7.19M	7.94M	6.72M	7.34M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	6.1B	10.5B	16.07B	8.7B	11.46B
Depreciation & Amortization - CF	7.41B	6.9B	6.71B	6.94B	7.18B
Amortization of Goodwill and Intangible Assets - (CF)	3.79M	4.46M	5.76M	6.12M	6.94M
Depreciation & Amortization, Total	7.41B	6.9B	6.71B	6.95B	7.19B
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-401M	205M	12.98M	-22.78M	-69.94M
(Gain) Loss on Sale of Investments - (CF)	-	-	13.57M	-	-21.05M
Asset Writedown & Restructuring Costs	1.05B	493M	1.39B	225M	818M
(Income) Loss On Equity Investments - (CF)	-509M	-515M	-61.52M	-503M	-1.19B
Provision and Write-off of Bad Debts	276K	185K	756K	-1.22M	620K
Other Operating Activities, Total	5.15B	3.61B	4.13B	931M	5.2B
Change In Accounts Receivable	-3.43B	-28.76M	3.05B	2.93B	-858M
Change In Inventories	-1.83B	2.06B	-3.14B	-14.29B	3.23B
Change In Accounts Payable	1.22B	-4.83B	5.27B	-4.62B	-3.34B
Change in Other Net Operating Assets	-226M	-617M	-4.8B	7.32B	-20.19M
Cash from Operations	14.54B	17.78B	28.65B	7.62B	22.4B
Capital Expenditure	-3.23B	-5.27B	-6B	-8.85B	-6.05B
Sale of Property, Plant, and Equipment	362M	2.18B	2.21B	50.69M	384M
Cash Acquisitions	-83.4M	-55.5M	-362M	-833M	-3.01B
Divestitures	1.48B	-261K	-8.99M	-	-
Sale (Purchase) of Real Estate properties	462M	-	-	-	-
Sale (Purchase) of Intangible assets	-5.99M	-7.01M	-10.93M	-7.81M	-15.56M
Investment in Marketable and Equity Securities, Total	-5.31B	-3.5B	-1.29B	-5.22B	-8.82B
Other Investing Activities, Total	65.93M	-329M	-2.79M	-1.91B	-388M
Cash from Investing	-6.26B	-6.97B	-5.46B	-16.77B	-17.89B
Short Term Debt Issued, Total	-	-	1.5B	3B	7B
Long-Term Debt Issued, Total	28.98B	40.56B	40.77B	28.08B	41.45B
Total Debt Issued	28.98B	40.56B	42.27B	31.08B	48.45B
Short Term Debt Repaid, Total	-4B	-	-	-	-3B
Long-Term Debt Repaid, Total	-29.45B	-43.93B	-56.33B	-31.43B	-42.82B
Total Debt Repaid	-33.45B	-43.93B	-56.33B	-31.43B	-45.82B
Issuance of Common Stock	-	1.64B	1.97B	-	-
Repurchase of Common Stock	-525M	-	-	-	-
Common Dividends Paid	-1.92B	-3.77B	-7.18B	-	-4.37B
Common & Preferred Stock Dividends Paid	-	-	-	-8.92B	-
Common & Preferred Stock Dividends Paid	-1.92B	-3.77B	-7.18B	-8.92B	-4.37B
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-4.9B	-1.66B	-117M	-3.52B	1.54B
Cash from Financing	-11.82B	-7.15B	-19.4B	-12.79B	-200M
Foreign Exchange Rate Adjustments	13.46M	-47.06M	-28.02M	98.4M	22.37M
Net Change in Cash	-3.52B	3.61B	3.76B	-21.84B	4.34B
Supplemental Items
Cash Interest Paid	4.78B	4.68B	4.18B	3.56B	3.21B
Cash Income Tax Paid (Refund)	2.22B	2.43B	5B	6.15B	1.69B
Levered Free Cash Flow	5.08B	1.89B	17.09B	-8.16B	9.99B
Unlevered Free Cash Flow	8.34B	4.71B	19.36B	-6.28B	12.04B
Change In Net Working Capital	3.55B	6.21B	-3.58B	11.64B	-1.46B
Net Debt Issued / Repaid	-4.47B	-3.37B	-14.07B	-348M	2.63B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.32	5.15	8.15	3.88	4.9
Return on Total Capital	5.32	6.27	9.9	4.7	5.8
Return On Equity %	10.04	14.63	19.91	10.39	12.34
Return on Common Equity	9.9	15.62	21.08	10.5	12.97
Margin Analysis
Gross Profit Margin %	19.53	22.45	26.52	13.79	15.59
SG&A Margin	4.86	5.17	5.44	4.96	4.27
EBITDA Margin %	23.23	25.03	26.77	13.97	16.53
EBITA Margin %	14.65	17.26	21.08	8.83	11.33
EBIT Margin %	14.65	17.26	21.07	8.83	11.32
Income From Continuing Operations Margin %	7.67	12.12	14.72	7.45	9.35
Net Income Margin %	7.24	12.18	14.04	6.61	8.58
Net Avail. For Common Margin %