CHINA DEVELOPMENT BANK FINANCIAL LEASING CO., LTD.

Cash flow China Development Bank Financial Leasing Co., Ltd.

Equities

1606

CNE1000027C9

Corporate Financial Services

Market Closed - Hong Kong S.E. Other stock markets 04:08:05 2024-09-13 am EDT			5-day change	1st Jan Change
1.170 ^HKD	+1.74%		-1.68%	-15.83%

Sep. 12	China Development Bank Financial Leasing to Purchase 80 A320 NEO Family Aircraft	MT
Sep. 12	Airbus Lands 80 Jets Order from China Development Bank Financial Leasing	MT

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Published financial data: CHINA DEVELOPMENT BANK FINANCIAL LEASING CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest and Dividend Income, Total	8.29B	9.2B	9.81B	10.29B	10.64B
Interest Expense, Total	7.17B	6.98B	8.09B	8.21B	10.36B
Net Interest Income	1.12B	2.22B	1.73B	2.08B	282M
Gain (Loss) on Sale of Investments, Total (Rev)	220M	41.19M	87.28M	32.49M	156M
Other Revenues, Total	8.92B	9.11B	12.59B	13.9B	15.83B
Revenues Before Provison For Loan Losses	10.26B	11.37B	14.41B	16.01B	16.27B
Provision For Loan Losses	-	-	2.23B	909M	739M
Total Revenues	10.26B	11.37B	12.18B	15.11B	15.53B
Salaries And Other Employee Benefits	562M	430M	495M	547M	502M
Cost of Services Provided, Total	70.24M	106M	109M	70.46M	102M
Depreciation & Amortization - (IS) - (Collected)	3.73B	4.12B	4.33B	5.37B	6.09B
Other Operating Expenses	446M	497M	1.05B	1.56B	1.81B
Total Operating Expenses	4.81B	5.16B	5.99B	7.55B	8.5B
Operating Income	5.46B	6.22B	6.19B	7.56B	7.03B
Currency Exchange Gains (Loss)	38.61M	-162M	72.49M	128M	-358M
Other Non Operating Income (Expenses)	-	114M	-238M	-311M	-34.49M
EBT, Excl. Unusual Items	5.5B	6.17B	6.02B	7.37B	6.64B
Gain (Loss) on Sale of Investments	-1.09B	-708M	-	-	-
Gain (Loss) on Sale of Assets	533M	689M	555M	613M	205M
Asset Writedown	-951M	-1.57B	-1.04B	-3.03B	-1.42B
EBT, Incl. Unusual Items	3.99B	4.58B	5.54B	4.96B	5.42B
Income Tax Expense	1.05B	1.32B	1.61B	1.61B	1.27B
Earnings From Continuing Operations	2.94B	3.27B	3.92B	3.35B	4.15B
Net Income to Company	2.94B	3.27B	3.92B	3.35B	4.15B
Net Income - (IS)	2.94B	3.27B	3.92B	3.35B	4.15B
Net Income to Common Incl Extra Items	2.94B	3.27B	3.92B	3.35B	4.15B
Net Income to Common Excl. Extra Items	2.94B	3.27B	3.92B	3.35B	4.15B
Per Share Items
Net EPS - Basic	0.23	0.26	0.31	0.27	0.33
Basic EPS - Continuing Operations	0.23	0.26	0.31	0.27	0.33
Basic Weighted Average Shares Outstanding	12.64B	12.64B	12.64B	12.64B	12.64B
Net EPS - Diluted	0.23	0.26	0.31	0.27	0.33
Diluted EPS - Continuing Operations	0.23	0.26	0.31	0.27	0.33
Diluted Weighted Average Shares Outstanding	12.64B	12.64B	12.64B	12.64B	12.64B
Normalized Basic EPS	0.27	0.3	0.3	0.36	0.33
Normalized Diluted EPS	0.27	0.3	0.3	0.36	0.33
Dividend Per Share	0.1	0.08	0.09	0.08	0.1
Payout Ratio	38.39	37.91	23.43	39.44	22.7
Supplemental Items
Total Revenues (As Reported)	18.34B	19.33B	23.32B	25.05B	26.66B
Effective Tax Rate - (Ratio)	26.41	28.69	29.15	32.41	23.41
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	1.12B	1.22B	957M	2.19B	1.96B
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-76.67M	102M	637M	-598M	-690M
Normalized Net Income	3.44B	3.86B	3.76B	4.61B	4.15B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	21.53B	34.99B	36.83B	29.76B	69.44B
Long-Term Investments - (FS Template)	-	955M	-	-	3B
Trading Asset Securities, Total	181M	545M	251M	973M	832M
Loans and Lease Receivables - (FS Template)	141B	166B	191B	193B	195B
Other Receivables	852M	2.36B	1.9B	1.49B	1.15B
Gross Property Plant And Equipment	86.44B	91.07B	109B	129B	148B
Accumulated Depreciation	-12.58B	-13.8B	-16.06B	-22.42B	-29.15B
Net Property Plant And Equipment	73.87B	77.27B	92.98B	107B	119B
Other Intangibles, Total	1.87B	1.62B	1.38B	1.23B	1.15B
Deferred Tax Assets Current	-	12.68M	7.2M	-	-
Other Current Assets, Total	19.09B	16.95B	14.4B	17.27B	16.11B
Deferred Tax Assets Long-Term (Collected)	1.43B	1.32B	1.67B	1.83B	2.13B
Other Long-Term Assets, Total	990M	1.27B	1.54B	2.01B	1.96B
Total Assets	261B	303B	342B	355B	410B
Liabilities
Accounts Payable, Total	2.19B	2.89B	5.02B	6.88B	9.7B
Accrued Expenses, Total	2.56B	2.16B	2.05B	2.2B	4.64B
Short-Term Borrowings	789M	2.31B	11.23B	18.79B	23.19B
Current Portion of Long-Term Debt	142B	178B	213B	181B	213B
Current Portion of Leases	-	-	-	-	20.64M
Long-Term Debt	74.84B	79B	68.59B	96.08B	107B
Long-Term Leases	627M	196M	172M	147M	386M
Current Income Taxes Payable	577M	342M	372M	769M	447M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	-	83.21M	145M	-	63.27M
Unearned Revenue Non Current	155M	116M	113M	110M	1.8B
Deferred Tax Liability Non-Current	827M	758M	1.82B	1.54B	1.11B
Other Non Current Liabilities	10.96B	11.24B	9.66B	13.34B	10.87B
Total Liabilities	236B	277B	312B	320B	372B
Common Stock, Total	12.64B	12.64B	12.64B	12.64B	12.64B
Additional Paid In Capital	-	-	-	-	-
Retained Earnings	10.96B	12.9B	15.84B	18.02B	21.16B
Comprehensive Income and Other	2.07B	1.08B	1.62B	3.62B	3.48B
Total Common Equity	25.67B	26.63B	30.11B	34.28B	37.28B
Total Equity	25.67B	26.63B	30.11B	34.28B	37.28B
Total Liabilities And Equity	261B	303B	342B	355B	410B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	12.64B	12.64B	12.64B	12.64B	12.64B
ECS Total Common Shares Outstanding	12.64B	12.64B	12.64B	12.64B	12.64B
Book Value / Share	2.03	2.11	2.38	2.71	2.95
Tangible Book Value	23.8B	25.01B	28.72B	33.06B	36.13B
Tangible Book Value Per Share	1.88	1.98	2.27	2.61	2.86
Total Debt	218B	259B	293B	296B	344B
Net Debt	197B	224B	255B	265B	274B
Full Time Employees	425	494	533	568	571
Assets on Operating Lease - Gross	84.68B	89.98B	108B	128B	147B
Assets on Operating Lease - Accumulated Depreciation	-12.32B	-13.68B	-15.9B	-22.24B	-28.93B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.94B	3.27B	3.92B	3.35B	4.15B
Depreciation, Depletion & Amortization	3.68B	4.05B	4.27B	5.32B	6.04B
Amortization of Goodwill and Intangible Assets - (CF)	15.91M	21.62M	34.58M	27.31M	31.33M
Total Depreciation, Depletion & Amortization	3.7B	4.07B	4.31B	5.35B	6.07B
Amortization of Deferred Charges, Total	39.09M	60.5M	42.74M	33.26M	27.92M
Gain (Loss) on Sale of Loans & Receivables - (CF)	-176M	-124M	-102M	-28.64M	-2.79M
(Gain) Loss On Sale of Asset - (CF)	-553M	-689M	-485M	-613M	-205M
(Gain) Loss on Sale of Investments - (CF)	-22.18M	148M	20.19M	1.95M	-165M
Total Asset Writedown	951M	1.57B	1.21B	3.34B	1.41B
Provision for Credit Losses	1.08B	642M	2.23B	909M	739M
Change in Other Net Operating Assets (Collected)	265M	17.71B	10.59B	3.45B	54.25B
Other Operating Activities	1.68B	1.14B	1.97B	1.21B	551M
Cash from Operations	9.9B	27.81B	23.71B	17B	66.83B
Capital Expenditure	-20.37B	-16.93B	-24.55B	-13.94B	-20.16B
Sale of Property, Plant, and Equipment	4.2B	3.53B	5.79B	4.25B	2.02B
Divestitures	17.93M	-	-	-	-
Purchase / Sale of Intangible Assets	-	-	-	-	-
Sale (Purchase) of Real Estate Properties (Collected)	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	2.48B	-869M	458M	-588M	-1.63B
Other Investing Activities, Total	3.52B	1.27B	-5.82B	1.5B	-15.56B
Cash from Investing	-10.14B	-13.01B	-24.12B	-8.79B	-35.32B
Long-Term Debt Issued, Total	8.98B	13.19B	12.89B	10.48B	4.14B
Total Debt Issued	8.98B	13.19B	12.89B	10.48B	4.14B
Long-Term Debt Repaid, Total	-5.1B	-8.95B	-13.58B	-22.22B	-9.52B
Total Debt Repaid	-5.1B	-8.95B	-13.58B	-22.22B	-9.52B
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-1.13B	-1.24B	-919M	-1.32B	-942M
Common & Preferred Stock Dividends Paid	-1.13B	-1.24B	-919M	-1.32B	-942M
Other Financing Activities, Total	-1.67B	-1.77B	-1.51B	-1.4B	-1.17B
Cash from Financing	1.08B	1.23B	-3.12B	-14.47B	-7.49B
Foreign Exchange Rate Adjustments	224M	-1.33B	-413M	720M	180M
Net Change in Cash	1.07B	14.7B	-3.95B	-5.54B	24.2B
Supplemental Items
Cash Interest Paid	7.31B	7.15B	8.15B	8.14B	10.26B
Cash Income Tax Paid (Refund)	995M	1.46B	942M	1.83B	2.27B
Net Debt Issued / Repaid	3.88B	4.23B	-693M	-11.74B	-5.38B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.18	1.16	1.22	0.96	1.09
Return On Equity %	11.78	12.5	13.83	10.41	11.6
Return on Common Equity	11.78	12.5	13.83	10.41	11.6
Margin Analysis
Gross Profit Margin %	99.47	99.29	99.33	99.66	99.45
SG&A Margin	5.63	4.01	4.28	3.75	3.34
Income From Continuing Operations Margin %	28.62	28.74	32.21	22.18	26.73
Net Income Margin %	28.62	28.74	32.21	22.18	26.73
Net Avail. For Common Margin %	28.62	28.74	32.21	22.18	26.73
Normalized Net Income Margin	33.47	33.9	30.89	30.51	26.71
Asset Turnover
Asset Turnover	0.04	0.04	0.04	0.04	0.04
Short Term Liquidity
Current Ratio	1.24	1.19	1.06	1.16	1.12
Quick Ratio	1.11	1.1	0.99	1.08	1.06
Operating Cash Flow to Current Liabilities	0.07	0.15	0.1	0.08	0.27
Long Term Solvency
Total Debt/Equity	850.68	973.03	971.67	862.2	922.11
Total Debt / Total Capital	89.48	90.68	90.67	89.61	90.22
LT Debt/Equity	294	297.39	228.39	280.69	287.38
Long-Term Debt / Total Capital	30.93	27.72	21.31	29.17	28.12
Total Liabilities / Total Assets	90.18	91.22	91.19	90.33	90.9
Tier 1 Capital Ratio %	10.51	9.82	9.4	9.86	9.96
Total Capital Ratio %	11.69	12.6	11.93	12.46	12.47
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	38.48	11.02	12.21	24.04	2.8
Gross Profit, 1 Yr. Growth %	39.15	10.82	12.29	24.46	2.58
Earnings From Cont. Operations, 1 Yr. Growth %	17.2	11.24	20.01	-14.56	23.85
Net Income, 1 Yr. Growth %	17.2	11.24	20.01	-14.56	23.85
Normalized Net Income, 1 Yr. Growth %	40.37	12.22	10.22	22.52	-10.02
Diluted EPS Before Extra, 1 Yr. Growth %	15.99	12.4	19.91	-14.49	23.85
Common Equity, 1 Yr. Growth %	6.06	3.74	13.06	13.87	8.75
Total Assets, 1 Yr. Growth %	9.76	16.08	12.7	3.77	15.5
Tangible Book Value, 1 Yr. Growth %	1.8	5.07	14.86	15.08	9.29
Cash From Operations, 1 Yr. Growth %	-56.84	180.8	-14.74	-28.29	293.1
Capital Expenditures, 1 Yr. Growth %	-21.72	-16.86	45.01	-43.21	44.57
Dividend Per Share, 1 Yr. Growth %	17.2	-25.84	20	-14.56	23.84
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	19.59	23.87	9.02	17.98	12.93
Gross Profit, 2 Yr. CAGR %	19.8	24.06	8.94	18.22	12.99
Earnings From Cont. Operations, 2 Yr. CAGR %	17.42	14.18	15.54	1.26	2.86
Net Income, 2 Yr. CAGR %	17.42	14.18	15.54	1.26	2.86
Normalized Net Income, 2 Yr. CAGR %	22.22	25.51	4.65	16.21	5
Diluted EPS Before Extra, 2 Yr. CAGR %	16.81	14.18	16.1	1.26	2.9
Common Equity, 2 Yr. CAGR %	4.49	4.89	8.3	13.47	11.28
Total Assets, 2 Yr. CAGR %	18.18	12.88	14.38	8.14	9.48
Tangible Book Value, 2 Yr. CAGR %	1.54	3.42	9.86	14.97	12.15
Cash From Operations, 2 Yr. CAGR %	877.59	10.09	54.73	-21.81	67.89
Capital Expenditures, 2 Yr. CAGR %	27.32	-19.33	9.8	-9.25	-9.39
Dividend Per Share, 2 Yr. CAGR %	17.42	-6.77	-5.66	1.26	2.87
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	26.25	16.59	17.99	13.82	12.69
Gross Profit, 3 Yr. CAGR %	26.49	16.65	18.13	13.89	12.76
Earnings From Cont. Operations, 3 Yr. CAGR %	23.46	15.32	16.09	4.48	8.29
Net Income, 3 Yr. CAGR %	23.46	15.32	16.09	4.48	8.29
Normalized Net Income, 3 Yr. CAGR %	34.26	18.79	15.41	10.29	6.71
Diluted EPS Before Extra, 3 Yr. CAGR %	17.41	15.32	16.06	4.84	8.29
Common Equity, 3 Yr. CAGR %	4.8	4.24	7.55	10.13	11.87
Total Assets, 3 Yr. CAGR %	16.21	17.48	12.82	10.73	10.54
Tangible Book Value, 3 Yr. CAGR %	2.88	2.71	7.1	11.57	13.05
Cash From Operations, 3 Yr. CAGR %	34.33	545.01	1.1	19.74	33.95
Capital Expenditures, 3 Yr. CAGR %