QINGDAO KINGKING APPLIED CHEMISTRY CO., LTD.

Cash flow Qingdao Kingking Applied Chemistry Co., Ltd.

Equities

002094

CNE000001PS4

Household Products

End-of-day quote Shenzhen S.E. Other stock markets 06/09/2024			5-day change	1st Jan Change
2.190 ^CNY	-1.79%		-0.90%	-42.22%

08-30	Qingdao Kingking Applied Chemistry Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI
07-05	Qingdao Kingking Applied Chemistry Anticipates Net Profit to Rise 30% to 50% in H1; Shares Jump 10%	MT

c20c13e994497ea52383cbef223.upCHLzly84G1tCFgwL4hYeJEfTVeBzVZh1MX2GRA2W0.8dXERmNDp9jt_XEnoohqKpQvDkQ9Xxht8RJj4CgaviuX5-x_VCi79NzkbA

Published financial data: QINGDAO KINGKING APPLIED CHEMISTRY CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	5.45B	4B	3.12B	2.92B	2.5B
Other Revenues, Total	24.44M	1.46M	34.79M	29.69M	5.17M
Total Revenues	5.47B	4B	3.15B	2.95B	2.51B
Cost of Goods Sold, Total	4.65B	3.75B	2.73B	2.7B	2.27B
Gross Profit	821M	253M	418M	250M	242M
Selling General & Admin Expenses, Total	665M	558M	412M	324M	194M
Provision for Bad Debts	21.73M	35.89M	35.79M	90.65M	-429K
R&D Expenses	35.84M	32.37M	39.29M	37.06M	34.23M
Other Operating Expenses	14.36M	12.39M	9.04M	10.52M	10.96M
Other Operating Expenses, Total	737M	638M	496M	463M	238M
Operating Income	84.16M	-385M	-77.46M	-213M	3.84M
Interest Expense, Total	-79.39M	-62.33M	-50.98M	-45.62M	-54.13M
Interest And Investment Income	396M	113M	126M	6.23M	125M
Net Interest Expenses	317M	51.05M	74.7M	-39.39M	71.2M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-39.8M	-120M	433K	-227M	-65.73M
EBT, Excl. Unusual Items	361M	-454M	-2.32M	-479M	9.31M
Impairment of Goodwill	-249M	-190M	-	-69.52M	-11.26M
Gain (Loss) On Sale Of Investments	-	-4.15M	-4.7M	-305M	11.57M
Gain (Loss) On Sale Of Assets	-34.9K	30.15K	-61.15K	-3.51M	176K
Asset Writedown	-146K	-719K	-4.07M	-2.08M	-
Other Unusual Items	55.29M	6.72M	7.19M	1.81M	15.59M
EBT, Incl. Unusual Items	167M	-642M	-3.97M	-857M	25.4M
Income Tax Expense	118M	-71.62M	13.62M	17.96M	16.42M
Earnings From Continuing Operations	48.47M	-571M	-17.59M	-875M	8.98M
Net Income to Company	48.47M	-571M	-17.59M	-875M	8.98M
Minority Interest	-27.3M	142M	33.93M	66.36M	1.45M
Net Income - (IS)	21.17M	-429M	16.34M	-809M	10.42M
Net Income to Common Incl Extra Items	21.17M	-429M	16.34M	-809M	10.42M
Net Income to Common Excl. Extra Items	21.17M	-429M	16.34M	-809M	10.42M
Per Share Items
Net EPS - Basic	0.03	-0.62	0.02	-1.17	0.02
Basic EPS - Continuing Operations	0.03	-0.62	0.02	-1.17	0.02
Basic Weighted Average Shares Outstanding	706M	692M	690M	691M	521M
Net EPS - Diluted	0.03	-0.62	0.02	-1.17	0.02
Diluted EPS - Continuing Operations	0.03	-0.62	0.02	-1.17	0.02
Diluted Weighted Average Shares Outstanding	706M	692M	690M	691M	521M
Normalized Basic EPS	0.28	-0.21	0.05	-0.34	0.01
Normalized Diluted EPS	0.28	-0.21	0.05	-0.34	0.01
Dividend Per Share	-	-	-	-	-
Payout Ratio	389.42	-14.27	442.44	-5.27	492.15
Supplemental Items
EBITDA	119M	-353M	-46.42M	-177M	34.1M
EBITA	96.61M	-374M	-66.6M	-203M	5.81M
EBIT	84.16M	-385M	-77.46M	-213M	3.84M
EBITDAR	171M	-311M	-10.53M	-148M	47.84M
Total Revenues (As Reported)	5.47B	4B	3.15B	2.95B	2.51B
Effective Tax Rate - (Ratio)	70.96	11.15	-342.94	-2.1	64.66
Total Current Taxes	137M	7.13M	30.58M	3.3M	12.47M
Total Deferred Taxes	-18.41M	-78.75M	-16.97M	14.66M	3.95M
Normalized Net Income	198M	-142M	32.48M	-233M	7.27M
Interest on Long-Term Debt	7.52M	-	-	-	-
Non-Cash Pension Expense	-	299K	4.38M	3.14M	8.05K
Supplemental Operating Expense Items
Advertising Expense	71.93M	76.32M	41.52M	17.85M	19.07M
Selling and Marketing Expenses	411M	311M	189M	128M	74.23M
General and Administrative Expenses	203M	205M	187M	168M	106M
Research And Development Expense From Footnotes	35.84M	32.37M	39.29M	37.06M	34.23M
Net Rental Expense, Total	51.65M	42.39M	35.89M	29.21M	13.73M
Imputed Operating Lease Interest Expense	22.03M	19.11M	15.39M	11.31M	5.56M
Imputed Operating Lease Depreciation	29.62M	23.28M	20.5M	17.9M	8.17M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.67B	1.43B	1.22B	1.1B	750M
Short Term Investments	180M	106M	183M	175M	562M
Trading Asset Securities, Total	63.9M	41.65M	4.15M	451K	31.18K
Total Cash And Short Term Investments	1.92B	1.58B	1.41B	1.28B	1.31B
Accounts Receivable, Total	729M	544M	575M	180M	273M
Other Receivables	136M	105M	118M	243M	106M
Notes Receivable	-	-	-	1.64M	1.1M
Total Receivables	864M	649M	693M	425M	380M
Inventory	944M	809M	636M	430M	333M
Prepaid Expenses	50.96M	50.15M	40.45M	22.85M	16.11M
Restricted Cash	-	-	-	11.4M	11.4M
Other Current Assets, Total	407M	452M	577M	98.96M	63.97M
Total Current Assets	4.18B	3.54B	3.36B	2.27B	2.12B
Gross Property Plant And Equipment	395M	442M	553M	561M	649M
Accumulated Depreciation	-196M	-213M	-252M	-276M	-307M
Net Property Plant And Equipment	200M	230M	300M	285M	343M
Long-term Investments	696M	676M	545M	519M	559M
Goodwill	318M	150M	150M	59.06M	47.8M
Other Intangibles, Total	97.9M	84.47M	75.29M	33.91M	29.13M
Deferred Tax Assets Long-Term	28.16M	107M	121M	35.43M	30.99M
Deferred Charges Long-Term	14.71M	5.32M	8.08M	7.67M	3.57M
Other Long-Term Assets, Total	10.79M	11.42M	11.65M	27.16M	25.67M
Total Assets	5.55B	4.81B	4.57B	3.24B	3.15B
Liabilities
Accounts Payable, Total	646M	559M	811M	543M	417M
Accrued Expenses, Total	58.2M	97.24M	108M	46.03M	34.74M
Short-term Borrowings	901M	813M	771M	925M	1.16B
Current Portion of Long-Term Debt	265M	11.06M	130M	-	-
Current Portion of Leases	-	-	15.93M	14.51M	12.71M
Current Income Taxes Payable	45.6M	2.4M	18.62M	2.72M	7.94M
Unearned Revenue Current, Total	113M	150M	204M	35.88M	33.06M
Other Current Liabilities	46.86M	241M	46.32M	179M	20.72M
Total Current Liabilities	2.08B	1.87B	2.11B	1.75B	1.68B
Long-Term Debt	30M	130M	-	-	-
Long-Term Leases	40.3M	21.5M	8.76M	19.92M	7.19M
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non Current	11.8M	11.66M	6.99M	2.89M	1.73M
Total Liabilities	2.16B	2.04B	2.12B	1.77B	1.69B
Common Stock, Total	691M	691M	691M	691M	691M
Additional Paid In Capital	1.12B	1.12B	1.09B	1.09B	1.09B
Retained Earnings	1.06B	635M	652M	-188M	-197M
Comprehensive Income and Other	26.5M	21M	-212M	-163M	-155M
Total Common Equity	2.9B	2.47B	2.22B	1.43B	1.43B
Minority Interest	492M	303M	224M	33.09M	28.65M
Total Equity	3.39B	2.77B	2.45B	1.47B	1.46B
Total Liabilities And Equity	5.55B	4.81B	4.57B	3.24B	3.15B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	691M	691M	691M	691M	691M
ECS Total Common Shares Outstanding	691M	691M	691M	691M	691M
Book Value / Share	4.2	3.57	3.22	2.08	2.07
Tangible Book Value	2.48B	2.23B	2B	1.34B	1.36B
Tangible Book Value Per Share	3.59	3.23	2.89	1.94	1.96
Total Debt	1.24B	976M	926M	960M	1.18B
Net Debt	-682M	-606M	-485M	-321M	-133M
Debt Equivalent Oper. Leases	413M	339M	287M	234M	110M
Minority Interest, Total (Incl. Fin. Div)	492M	303M	224M	33.09M	28.65M
Equity Method Investments, Total	400M	360M	367M	367M	370M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	111M	103M	167M	192M	162M
Inventories - Work In Process, Total	14.84M	16.95M	28.07M	15.4M	13.28M
Inventories - Finished Goods, Total	844M	752M	491M	251M	181M
Inventories - Others	-	-	-	-	-
Buildings, Total	219M	259M	291M	324M	426M
Machinery, Total	58.03M	83.62M	91.07M	176M	171M
Full Time Employees	3.62K	2.8K	2.63K	2.81K	1.31K
Assets under Capital Lease - Gross	99.88M	99.88M	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-51.85M	-63.7M	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	108M	143M	66.62M	66.5M	59.56M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	21.17M	-429M	16.34M	-809M	8.98M
Depreciation & Amortization - CF	22.61M	20.78M	41.05M	45.26M	41.23M
Amortization of Goodwill and Intangible Assets - (CF)	12.45M	11.2M	10.86M	10.11M	1.97M
Depreciation & Amortization, Total	35.06M	31.97M	51.91M	55.37M	43.2M
Amortization of Deferred Charges, Total - (CF)	12.62M	12.75M	7.93M	7.08M	6.77M
(Gain) Loss From Sale Of Asset	34.9K	-30.15K	61.15K	3.51M	-176K
(Gain) Loss on Sale of Investments - (CF)	-389M	-104M	-116M	293M	-121M
Asset Writedown & Restructuring Costs	249M	191M	4.07M	71.6M	12.05M
Provision and Write-off of Bad Debts	21.73M	35.89M	35.79M	90.65M	-429K
Other Operating Activities, Total	140M	71.74M	15.58M	214M	107M
Change In Accounts Receivable	-58.55M	102M	-211M	129M	-53.74M
Change In Inventories	-133M	84.43M	160M	71.94M	88.73M
Change In Accounts Payable	268M	-94.35M	-359M	-90.57M	-43.86M
Change In Deferred Taxes	-18.41M	-78.75M	-17.07M	14.63M	3.96M
Change in Other Net Operating Assets	-34.21M	-	-	-	-
Cash from Operations	115M	-176M	-412M	52M	51.82M
Capital Expenditure	-30.75M	-54.94M	-75.02M	-37.34M	-2.48M
Sale of Property, Plant, and Equipment	1.05M	369K	223K	17.03M	285K
Cash Acquisitions	-	-18.13M	-11.17M	-	-
Divestitures	1.31B	2.82M	11.47M	211M	7.95M
Investment in Marketable and Equity Securities, Total	-612M	184M	-80.54M	-126M	-415M
Other Investing Activities, Total	223M	109M	89.3M	55.66M	128M
Cash from Investing	890M	224M	-65.74M	120M	-281M
Short Term Debt Issued, Total	-	-	-	1.5B	1.59B
Long-Term Debt Issued, Total	947M	974M	1.55B	10M	-
Total Debt Issued	947M	974M	1.55B	1.51B	1.59B
Short Term Debt Repaid, Total	-	-	-	-1.63B	-1.5B
Long-Term Debt Repaid, Total	-1.44B	-1.2B	-1.29B	-24.67M	-16.04M
Total Debt Repaid	-1.44B	-1.2B	-1.29B	-1.65B	-1.52B
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-82.44M	-61.19M	-72.3M	-42.63M	-51.29M
Common & Preferred Stock Dividends Paid	-82.44M	-61.19M	-72.3M	-42.63M	-51.29M
Other Financing Activities, Total	-23.06M	-61.16M	-328M	126M	-30.42M
Cash from Financing	-597M	-347M	-148M	-54.67M	-12.13M
Foreign Exchange Rate Adjustments	-769K	-2.52M	-2.73M	-22.27M	-23.73M
Net Change in Cash	407M	-302M	-628M	95.55M	-265M
Supplemental Items
Cash Income Tax Paid (Refund)	163M	68.8M	-18.92M	-27.82M	-24.13M
Levered Free Cash Flow	259M	156M	56.48M	441M	-94.55M
Unlevered Free Cash Flow	308M	195M	88.34M	469M	-60.72M
Change In Net Working Capital	-239M	-446M	-152M	-577M	111M
Net Debt Issued / Repaid	-492M	-224M	253M	-138M	69.58M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.92	-4.65	-1.03	-3.41	0.08
Return on Total Capital	1.08	-5.75	-1.36	-4.59	0.09
Return On Equity %	1.43	-18.52	-0.67	-44.72	0.61
Return on Common Equity	0.73	-15.98	0.7	-44.23	0.73
Margin Analysis
Gross Profit Margin %	15	6.33	13.27	8.46	9.65
SG&A Margin	12.15	13.94	13.05	10.99	7.71
EBITDA Margin %	2.18	-8.82	-1.47	-6.01	1.36
EBITA Margin %	1.76	-9.34	-2.11	-6.87	0.23
EBIT Margin %	1.54	-9.62	-2.46	-7.22	0.15
Income From Continuing Operations Margin %	0.89	-14.26	-0.56	-29.66	0.36
Net Income Margin %	0.39	-10.71	0.52	-27.41	0.42
Net Avail. For Common Margin %	0.39	-10.71	0.52	-27.41	0.42
Normalized Net Income Margin	3.62	-3.55	1.03	-7.9	0.29
Levered Free Cash Flow Margin	4.73	3.9	1.79	14.94	-3.77
Unlevered Free Cash Flow Margin