EVERDISPLAY OPTRONICS (SHANGHAI) CO., LTD.

Cash flow Everdisplay Optronics (Shanghai) Co., Ltd.

Equities

688538

CNE1000051N6

Electronic Equipment & Parts

End-of-day quote Shanghai S.E. Other stock markets 23/01/2026			5-day change	1st Jan Change
2.810 ^CNY	+3.69%		+5.64%	+5.64%

01-09	Everdisplay Optronics Shanghai's shareholder to unload stake	RE
30/10/25	Everdisplay Optronics Co., Ltd. Reports Earnings Results for the Nine Months Ended September 30, 2025	CI

f49af8240058.K50rd0FQKSs7Zqc5eANXnYCTUDVrxOK7l_SDueYEKn4.TvVyJREBZhMPKNVAK2wy3NOnY1YSjomC47LW14piEjhGxHo6FApzZnQV0A

Published financial data: EVERDISPLAY OPTRONICS (SHANGHAI) CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	2.46B	3.99B	4.15B	3.01B	4.82B
Other Revenues, Total	46.21M	33.3M	41.15M	31.95M	141M
Total Revenues	2.5B	4.02B	4.19B	3.04B	4.96B
Cost of Goods Sold, Total	3.08B	4.64B	5.2B	5.42B	6.49B
Gross Profit	-578M	-617M	-1.01B	-2.38B	-1.53B
Selling General & Admin Expenses, Total	145M	153M	162M	145M	144M
Provision for Bad Debts	436K	4.4M	-737K	-1.83M	3.94M
R&D Expenses	180M	157M	213M	181M	208M
Other Operating Expenses	2.25M	2.78M	18.3M	33.26M	32.83M
Other Operating Expenses, Total	328M	316M	393M	357M	390M
Operating Income	-906M	-933M	-1.4B	-2.74B	-1.92B
Interest Expense, Total	-192M	-170M	-310M	-524M	-647M
Interest And Investment Income	11.38M	96.3M	135M	59.87M	44.08M
Net Interest Expenses	-181M	-73.34M	-175M	-464M	-603M
Currency Exchange Gains (Loss)	15.91M	6.79M	-79.76M	-62.22M	-41.77M
Other Non Operating Income (Expenses)	-943K	285K	-310K	-392K	-415K
EBT, Excl. Unusual Items	-1.07B	-1B	-1.66B	-3.26B	-2.57B
Gain (Loss) On Sale Of Investments	-	15.03M	21.6M	626K	1.44M
Gain (Loss) On Sale Of Assets	-	60.48K	-77.12K	-15.28K	13.84M
Asset Writedown	-5.54K	-	-	-13.63M	-
Other Unusual Items	35.8M	39.34M	35.75M	33.06M	33.13M
EBT, Incl. Unusual Items	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Earnings From Continuing Operations	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Net Income to Company	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Net Income - (IS)	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Net Income to Common Incl Extra Items	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Net Income to Common Excl. Extra Items	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Per Share Items
Net EPS - Basic	-0.1	-0.08	-0.12	-0.23	-0.18
Basic EPS - Continuing Operations	-0.1	-0.08	-0.12	-0.23	-0.18
Basic Weighted Average Shares Outstanding	10.36B	11.81B	13.35B	14.11B	13.99B
Net EPS - Diluted	-0.1	-0.08	-0.12	-0.23	-0.18
Diluted EPS - Continuing Operations	-0.1	-0.08	-0.12	-0.23	-0.18
Diluted Weighted Average Shares Outstanding	10.36B	11.81B	13.35B	14.11B	13.99B
Normalized Basic EPS	-0.06	-0.05	-0.08	-0.14	-0.11
Normalized Diluted EPS	-0.06	-0.05	-0.08	-0.14	-0.11
Payout Ratio	-44.94	-53.83	-35.41	-20.02	-26.46
Supplemental Items
EBITDA	-9.63M	77.72M	49.39M	-1.04B	-19.69M
EBITA	-809M	-828M	-1.24B	-2.55B	-1.68B
EBIT	-906M	-933M	-1.4B	-2.74B	-1.92B
EBITDAR	15.06M	98.97M	71.4M	-1.02B	-685K
Total Revenues (As Reported)	2.5B	-	-	-	-
Normalized Net Income	-670M	-625M	-1.04B	-2.04B	-1.6B
Interest Capitalized	558M	340M	260M	127M	48.24M
Interest on Long-Term Debt	-	-	570M	652M	696M
Supplemental Operating Expense Items
Advertising Expense	2.58M	3.57M	1.25M	1.43M	1.79M
Selling and Marketing Expenses	39.59M	39.26M	41.38M	34.27M	34.32M
General and Administrative Expenses	94.44M	104M	111M	103M	104M
Research And Development Expense From Footnotes	254M	250M	359M	356M	437M
Net Rental Expense, Total	24.69M	21.24M	22M	21.76M	19M
Imputed Operating Lease Interest Expense	12.53M	6.49M	7.53M	8.31M	6.58M
Imputed Operating Lease Depreciation	12.16M	14.75M	14.47M	13.45M	12.42M
Stock-Based Comp., R&D Exp. (Total)	-	-	73.72M	-	-
Stock-Based Comp., S&M Exp. (Total)	-	-	31.27M	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	46.45M	-	-
Stock-Based Comp., Other (Total)	-	-	-	-	8.63M
Total Stock-Based Compensation	-	-	151M	-	8.63M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.42B	2.18B	401M	937M	2.8B
Trading Asset Securities, Total	-	5.72B	3.02B	1B	1B
Total Cash And Short Term Investments	1.42B	7.9B	3.42B	1.94B	3.8B
Accounts Receivable, Total	272M	821M	559M	361M	751M
Other Receivables	305M	175M	26.74M	35.94M	1.04M
Total Receivables	577M	996M	586M	397M	752M
Inventory	766M	1B	1.49B	861M	832M
Other Current Assets, Total	87.4M	151M	43.28M	50M	27.14M
Total Current Assets	2.85B	10.05B	5.54B	3.25B	5.41B
Gross Property Plant And Equipment	24.01B	25.15B	29.33B	30.74B	31.27B
Accumulated Depreciation	-2.95B	-3.86B	-5.16B	-6.62B	-8.19B
Net Property Plant And Equipment	21.06B	21.29B	24.18B	24.12B	23.08B
Other Intangibles, Total	736M	826M	899M	807M	962M
Deferred Charges Long-Term	120M	152M	77.61M	264M	140M
Other Long-Term Assets, Total	3.85M	824M	199M	3.88M	226K
Total Assets	24.77B	33.14B	30.89B	28.44B	29.59B
Liabilities
Accounts Payable, Total	877M	1.65B	1.37B	1.09B	1.14B
Accrued Expenses, Total	88.52M	94.98M	115M	102M	110M
Short-term Borrowings	300M	-	-	-	-
Current Portion of Long-Term Debt	714M	652M	691M	1.76B	10.15B
Current Portion of Leases	8.3M	8.7M	2.99M	-	243M
Unearned Revenue Current, Total	49.55M	94.37M	76.29M	93.35M	63.89M
Other Current Liabilities	12.3M	21.49M	157M	99.56M	50.76M
Total Current Liabilities	2.05B	2.52B	2.41B	3.15B	11.76B
Long-Term Debt	12.09B	12.91B	12.38B	12.44B	6.94B
Long-Term Leases	11.69M	4.5M	-	-	568M
Unearned Revenue Non Current	279M	308M	293M	291M	273M
Other Non Current Liabilities	-	-	-	-	10.93M
Total Liabilities	14.43B	15.74B	15.09B	15.88B	19.56B
Common Stock, Total	10.73B	13.81B	13.89B	13.86B	13.83B
Additional Paid In Capital	851M	5.77B	5.85B	5.82B	5.79B
Retained Earnings	-1.24B	-2.18B	-3.78B	-7.03B	-9.55B
Treasury Stock	-	-	-148M	-87.35M	-41.52M
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	10.34B	17.4B	15.81B	12.56B	10.03B
Total Equity	10.34B	17.4B	15.81B	12.56B	10.03B
Total Liabilities And Equity	24.77B	33.14B	30.89B	28.44B	29.59B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	10.73B	13.81B	13.89B	13.86B	13.83B
ECS Total Common Shares Outstanding	10.73B	13.81B	-	13.86B	13.83B
Book Value / Share	0.96	1.26	1.14	0.91	0.73
Tangible Book Value	9.61B	16.57B	14.91B	11.75B	9.07B
Tangible Book Value Per Share	0.9	1.2	1.07	0.85	0.66
Total Debt	13.12B	13.57B	13.08B	14.2B	17.91B
Net Debt	11.7B	5.68B	9.66B	12.26B	14.11B
Debt Equivalent Oper. Leases	197M	170M	176M	174M	152M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	105M	234M	248M	197M	192M
Inventories - Work In Process, Total	513M	444M	738M	587M	691M
Inventories - Finished Goods, Total	223M	378M	838M	473M	338M
Inventories - Others	23.12M	43.26M	27.18M	48.55M	33.72M
Buildings, Total	2.71B	3B	3B	3B	3.01B
Machinery, Total	12.61B	15.05B	20.38B	21.14B	24.33B
Full Time Employees	-	4.1K	4.2K	3.49K	3.47K
Assets under Capital Lease - Gross	27.92M	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-244K	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	1.81M	6.22M	5.48M	3.65M	7.58M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-1.04B	-945M	-1.6B	-3.24B	-2.52B
Depreciation & Amortization - CF	799M	908M	1.29B	1.51B	1.66B
Amortization of Goodwill and Intangible Assets - (CF)	97.54M	105M	162M	190M	244M
Depreciation & Amortization, Total	897M	1.01B	1.46B	1.7B	1.9B
Amortization of Deferred Charges, Total - (CF)	-	11.28M	13.17M	13.99M	14.99M
(Gain) Loss From Sale Of Asset	-	-76.03K	-	-	-13.85M
(Gain) Loss on Sale of Investments - (CF)	-	-85.05M	-144M	-54.26M	-21.32M
Asset Writedown & Restructuring Costs	95.67M	93.23M	344M	13.65M	11.56K
Provision for Credit Losses	690K	-	-	-	-
Provision and Write-off of Bad Debts	-	4.12M	-737K	-1.83M	3.94M
Other Operating Activities, Total	176M	163M	390M	1.01B	1.04B
Change In Accounts Receivable	217M	-493M	521M	180M	-340M
Change In Inventories	-484M	-330M	-830M	201M	-323M
Change In Accounts Payable	-88.08M	675M	-236M	-98.24M	69.99M
Change in Other Net Operating Assets	42.99M	-11.75M	59.62M	117K	12.41M
Cash from Operations	-179M	94.11M	-28.94M	-278M	-172M
Capital Expenditure	-4.08B	-1.74B	-3.78B	-1.67B	-927M
Sale of Property, Plant, and Equipment	-	1.17M	-	-	18.19M
Investment in Marketable and Equity Securities, Total	-	-5.7B	2.7B	2B	0
Other Investing Activities, Total	493M	58.47M	560M	148M	23.01M
Cash from Investing	-3.59B	-7.38B	-518M	483M	-886M
Long-Term Debt Issued, Total	3.78B	1.53B	1.44B	1.83B	7.07B
Total Debt Issued	3.78B	1.53B	1.44B	1.83B	7.07B
Long-Term Debt Repaid, Total	-963M	-1.01B	-2.29B	-779M	-3.45B
Total Debt Repaid	-963M	-1.01B	-2.29B	-779M	-3.45B
Issuance of Common Stock	373M	8.03B	148M	-	-
Repurchase of Common Stock	-	-	-	-60.21M	-45.82M
Common Dividends Paid	-466M	-509M	-567M	-650M	-666M
Common & Preferred Stock Dividends Paid	-466M	-509M	-567M	-650M	-666M
Other Financing Activities, Total	-5.1M	-27.14M	-	-	-
Cash from Financing	2.72B	8.01B	-1.27B	341M	2.91B
Foreign Exchange Rate Adjustments	2.52M	-12.39M	70.25M	-1.98M	14.44M
Net Change in Cash	-1.04B	715M	-1.75B	544M	1.86B
Supplemental Items
Cash Income Tax Paid (Refund)	-165M	-166M	-350M	-154M	-139M
Levered Free Cash Flow	-4.19B	-1.29B	-3.34B	-1.51B	-930M
Unlevered Free Cash Flow	-4.07B	-1.18B	-3.15B	-1.18B	-525M
Change In Net Working Capital	322M	-114M	111M	-481M	323M
Net Debt Issued / Repaid	2.82B	520M	-850M	1.05B	3.62B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-2.38	-2.01	-2.74	-5.77	-4.14
Return on Total Capital	-2.52	-2.14	-2.93	-6.15	-4.39
Return On Equity %	-9.71	-6.81	-9.65	-22.88	-22.29
Return on Common Equity	-9.71	-6.81	-9.65	-22.88	-22.29
Margin Analysis
Gross Profit Margin %	-23.12	-15.34	-24.13	-78.34	-30.89
SG&A Margin	5.81	3.8	3.88	4.79	2.91
EBITDA Margin %	-0.38	1.93	1.18	-34.19	-0.4
EBITA Margin %	-32.32	-20.59	-29.65	-83.85	-33.83
EBIT Margin %	-36.22	-23.21	-33.51	-90.11	-38.75
Income From Continuing Operations Margin %	-41.41	-23.51	-38.22	-106.78	-50.78
Net Income Margin %	-41.41	-23.51	-38.22	-106.78	-50.78
Net Avail. For Common Margin %	-41.41	-23.51	-38.22	-106.78	-50.78
Normalized Net Income Margin	-26.78	-15.54	-24.74	-67.15	-32.35
Levered Free Cash Flow Margin	-167.59	-32.02	-79.73	-49.68	-18.75
Unlevered Free Cash Flow Margin	-162.79	-29.39	-75.1	-38.9	-10.6
Asset Turnover
Asset Turnover	0.11	0.14	0.13	0.1	0.17
Fixed Assets Turnover	0.13	0.19	0.18	0.13	0.21
Receivables Turnover (Average Receivables)	9.07	7.29	6.01	6.53	8.66
Inventory Turnover (Average Inventory)	5.39	5.24	4.18	4.61	7.67
Short Term Liquidity
Current Ratio	1.39	3.99	2.3	1.03	0.46
Quick Ratio	0.97	3.53	1.66	0.74	0.39
Operating Cash Flow to Current Liabilities	-0.09	0.04	-0.01	-0.09	-0.01
Days Sales Outstanding (Average Receivables)	40.36	50.04	60.71	55.88	42.24
Days Outstanding Inventory (Average Inventory)	67.91	69.6	87.4	79.13	47.74
Average Days Payable Outstanding	98.48	94.55	96.82	93.8	63.4
Cash Conversion Cycle (Average Days)	9.79	25.08	51.29	41.21	26.59
Long Term Solvency
Total Debt/Equity	126.91	78.01	82.75	113.05	178.47
Total Debt / Total Capital	55.93	43.82	45.28	53.06	64.09
LT Debt/Equity	117.02	74.22	78.36	99.07	74.88
Long-Term Debt / Total Capital	51.57	41.69	42.88	46.5	26.89
Total Liabilities / Total Assets	58.25	47.5	48.84	55.84	66.09
EBIT / Interest Expense	-4.72	-5.5	-4.53	-5.23	-2.97
EBITDA / Interest Expense	-0.05	0.47	0.17	-1.98	-0.03
(EBITDA - Capex) / Interest Expense	-21.31	-9.76	-12.02	-5.16	-1.46
Total Debt / EBITDA	-1.36K	170.55	255.15	-13.67	-909.59
Net Debt / EBITDA	-1.22K	71.33	188.38	-11.81	-716.58
Total Debt / (EBITDA - Capex)	-3.21	-8.19	-3.51	-5.25	-18.91
Net Debt / (EBITDA - Capex)	-2.86	-3.43	-2.59	-4.53	-14.9
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	65.36	60.69	4.24	-27.5	63.19
Gross Profit, 1 Yr. Growth %	-1.07	5.37	64.04	135.41	-35.71
EBITDA, 1 Yr. Growth %	-97.77	-853.49	-44.79	-1.76K	-98.08
EBITA, 1 Yr. Growth %	-12.73	2.29	52.22	107.24	-33.8
EBIT, 1 Yr. Growth %	-5.69	2.91	50.53	94.97	-29.83
Earnings From Cont. Operations, 1 Yr. Growth %	3	-8.78	69.47	102.55	-22.39
Net Income, 1 Yr. Growth %	3	-8.78	69.47	102.55	-22.39
Normalized Net Income, 1 Yr. Growth %	4.41	-6.75	65.97	96.76	-21.38
Diluted EPS Before Extra, 1 Yr. Growth %	71.51	-20	50	91.67	-21.74
Accounts Receivable, 1 Yr. Growth %	1.01	201.66	-31.87	-35.43	107.87
Inventory, 1 Yr. Growth %	102.91	30.95	48.45	-42.16	-3.36
Net Property, Plant and Equip., 1 Yr. Growth %	17.31	1.1	13.55	-0.24	-4.31
Total Assets, 1 Yr. Growth %	8.28	33.79	-6.78	-7.94	4.06
Tangible Book Value, 1 Yr. Growth %	-7.03	72.53	-10.05	-21.15	-22.81
Common Equity, 1 Yr. Growth %	-6.03	68.24	-9.16	-20.53	-20.12
Cash From Operations, 1 Yr. Growth %	-56.24	-152.62	-130.76	861.03	-37.99
Capital Expenditures, 1 Yr. Growth %	-14.66	-57.47	117.64	-55.91	-44.35
Levered Free Cash Flow, 1 Yr. Growth %	-3.41	-69.3	188.11	-56.79	-38.4
Unlevered Free Cash Flow, 1 Yr. Growth %	-3.96	-71	198.71	-64.17	-55.55
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	76.56	63.01	29.42	-13.07	8.77
Gross Profit, 2 Yr. CAGR %	-4.8	2.72	31.42	96.51	23.07
EBITDA, 2 Yr. CAGR %	-87.35	-57.52	118.82	240.76	-43.9
EBITA, 2 Yr. CAGR %	-5	-5.48	23.9	76.67	16.81
EBIT, 2 Yr. CAGR %	-0.64	-1.45	24.43	71.32	16.97
Earnings From Cont. Operations, 2 Yr. CAGR %	10.58	-3.07	24.34	85.27	25.38
Net Income, 2 Yr. CAGR %	10.58	-3.07	24.34	85.27	25.38
Normalized Net Income, 2 Yr. CAGR %	8.7	-1.32	24.41	80.71	24.38
Diluted EPS Before Extra, 2 Yr. CAGR %	-	17.14	9.54	69.56	22.47
Accounts Receivable, 2 Yr. CAGR %	41.89	74.56	43.36	-33.67	15.86
Inventory, 2 Yr. CAGR %	101.98	63	39.42	-7.34	-25.23
Net Property, Plant and Equip., 2 Yr. CAGR %	23.38	8.91	7.15	6.43	-2.29
Total Assets, 2 Yr. CAGR %	19.04	20.36	11.68	-7.36	-2.12
Tangible Book Value, 2 Yr. CAGR %	-1.21	26.65	24.58	-15.78	-21.99
Common Equity, 2 Yr. CAGR %	-0.52	25.74	23.63	-15.03	-20.32
Cash From Operations, 2 Yr. CAGR %	-26.27	-52.01	-59.77	71.92	144.12
Capital Expenditures, 2 Yr. CAGR %	-29.17	-39.75	-3.79	-2.05	-50.47
Levered Free Cash Flow, 2 Yr. CAGR %	-31.02	-45.54	-10.74	14.08	-48.4
Unlevered Free Cash Flow, 2 Yr. CAGR %	-31.68	-47.22	-12.1	5.91	-60.09
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	59.52	71.11	40.44	6.69	7.24
Gross Profit, 3 Yr. CAGR %	-4	-1.12	20.04	59.61	35.44
EBITDA, 3 Yr. CAGR %	-74.39	-49.45	-51.42	365.26	-39.63
EBITA, 3 Yr. CAGR %	-2.25	-2.6	10.27	46.55	27.14
EBIT, 3 Yr. CAGR %	0.2	0.56	13.48	44.52	27.23
Earnings From Cont. Operations, 3 Yr. CAGR %	1.19	3.71	16.77	46.3	38.63
Net Income, 3 Yr. CAGR %	1.19	3.71	16.77	46.3	38.63
Normalized Net Income, 3 Yr. CAGR %	1.23	3.29	17.35	44.95	36.93
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	27.2	32	31.04
Accounts Receivable, 3 Yr. CAGR %	38.34	82.45	27.57	9.89	-2.94
Inventory, 3 Yr. CAGR %	64.44	74.81	58	3.99	-6.03
Net Property, Plant and Equip., 3 Yr. CAGR %	45.91	15.46	10.43	4.63	2.73
Total Assets, 3 Yr. CAGR %	22.94	23.76	10.53	4.71	-3.7
Tangible Book Value, 3 Yr. CAGR %	8.67	18.97	13	6.96	-18.19
Common Equity, 3 Yr. CAGR %	8.48	18.52	12.83	6.7	-16.76
Cash From Operations, 3 Yr. CAGR %	-31.92	-34.11	-58.63	15.86	22.38
Capital Expenditures, 3 Yr. CAGR %	11.22	-40.24	-7.56	-25.83	-18.87
Levered Free Cash Flow, 3 Yr. CAGR %	-	-47.33	-8.36	-28.87	-7.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-48.65	-9.46	-33.8	-20.7
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	46.72	30.51	26.79
Gross Profit, 5 Yr. CAGR %	-	-	9.11	30.12	21.24
EBITDA, 5 Yr. CAGR %	-	-	-38.76	11.53	-46.05
EBITA, 5 Yr. CAGR %	-	-	7.49	23.24	12.6
EBIT, 5 Yr. CAGR %	-	-	9.28	24.43	14.86
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	9.88	30.8	20.14
Net Income, 5 Yr. CAGR %	-	-	9.88	30.8	20.14
Normalized Net Income, 5 Yr. CAGR %	-	-	9.93	29.19	20.11
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	25.29
Accounts Receivable, 5 Yr. CAGR %	-	-	40.32	21.72	22.75
Inventory, 5 Yr. CAGR %	-	-	53.94	35.62	17.13
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	28.96	11.76	5.16
Total Assets, 5 Yr. CAGR %	-	-	18.31	10.22	5.28
Tangible Book Value, 5 Yr. CAGR %	-	-	14.77	3.61	-2.57
Common Equity, 5 Yr. CAGR %	-	-	14.3	3.75	-1.83
Cash From Operations, 5 Yr. CAGR %	-	-	-44.84	-3.3	-15.85
Capital Expenditures, 5 Yr. CAGR %	-	-	4.95	-27.18	-27.98
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-29.73	-26.52
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-32.96	-34.14