CITYCHAMP WATCH & JEWELLERY GROUP LIMITED

Balance Sheet Citychamp Watch & Jewellery Group Limited

Equities

256 KYG2161T1004

Apparel & Accessories

Market Closed - Hong Kong S.E. Other stock markets 04:08:32 2024-09-05 am EDT			5-day change	1st Jan Change
0.9600 ^HKD	0.00%		-1.03%	-16.52%

Aug. 30	Citychamp Watch & Jewellery Group Posts Lower H1 Profit, Revenue; Shares slide 3%	MT
Aug. 29	Citychamp Watch & Jewellery Group Limited Reports Earnings Results for the Half Year Ended June 30, 2024	CI

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Published financial data: CITYCHAMP WATCH & JEWELLERY GROUP LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.6B	1.71B	1.9B	1.51B	1.37B
Interest And Invest. Income (Rev)	221M	157M	137M	151M	359M
Total Revenues	2.82B	1.86B	2.04B	1.66B	1.73B
Cost of Goods Sold, Total	1.07B	708M	809M	637M	541M
Gross Profit	1.75B	1.16B	1.23B	1.02B	1.19B
Selling General & Admin Expenses, Total	1.6B	1.28B	1.23B	1.08B	1.04B
Other Operating Expenses, Total	1.6B	1.28B	1.23B	1.08B	1.04B
Operating Income	155M	-123M	-5.67M	-54.74M	144M
Interest Expense, Total	-133M	-112M	-111M	-88.16M	-151M
Interest And Investment Income	17.58M	14.45M	13.47M	11.12M	11.38M
Net Interest Expenses	-115M	-97.2M	-97.9M	-77.04M	-140M
Income (Loss) On Equity Invest.	16.33M	2.69M	240K	16.71M	13.85M
Currency Exchange Gains (Loss)	12.46M	27.64M	-19.67M	3.22M	7.58M
Other Non Operating Income (Expenses)	49.38M	11.32M	25.61M	17.84M	6.8M
EBT, Excl. Unusual Items	118M	-179M	-97.4M	-94.02M	32.3M
Impairment of Goodwill	-	-	-	-	-13.39M
Gain (Loss) On Sale Of Investments	20.37M	36.16M	2.29M	484K	66.68M
Gain (Loss) On Sale Of Assets	159K	936K	456K	-7.02M	3.55M
Asset Writedown	4.05M	9.72M	12.74M	-9.56M	-1.22M
Legal Settlements	394K	-1.91M	-21K	-11K	-4.12M
Other Unusual Items	-	-	7.66M	-149K	-
EBT, Incl. Unusual Items	143M	-134M	-74.27M	-110M	83.8M
Income Tax Expense	71.46M	25.18M	31.1M	9.16M	20.54M
Earnings From Continuing Operations	71.18M	-159M	-105M	-119M	63.26M
Net Income to Company	71.18M	-159M	-105M	-119M	63.26M
Minority Interest	-26.94M	-10.4M	4.47M	8.39M	-18.16M
Net Income - (IS)	44.25M	-169M	-101M	-111M	45.1M
Net Income to Common Incl Extra Items	44.25M	-169M	-101M	-111M	45.1M
Net Income to Common Excl. Extra Items	44.25M	-169M	-101M	-111M	45.1M
Per Share Items
Net EPS - Basic	0.01	-0.04	-0.02	-0.03	0.01
Basic EPS - Continuing Operations	0.01	-0.04	-0.02	-0.03	0.01
Basic Weighted Average Shares Outstanding	4.35B	4.35B	4.35B	4.35B	4.35B
Net EPS - Diluted	0.01	-0.04	-0.02	-0.03	0.01
Diluted EPS - Continuing Operations	0.01	-0.04	-0.02	-0.03	0.01
Diluted Weighted Average Shares Outstanding	4.35B	4.35B	4.35B	4.35B	4.35B
Normalized Basic EPS	0.01	-0.03	-0.01	-0.01	0
Normalized Diluted EPS	0.01	-0.03	-0.01	-0.01	0
Dividend Per Share	-	-	-	-	-
Payout Ratio	-	-	-	-	-
Supplemental Items
EBITDA	274M	-18.71M	70.4M	6.92M	206M
EBITA	156M	-121M	-4.93M	-54.57M	152M
EBIT	155M	-123M	-5.67M	-54.74M	144M
EBITDAR	291M	-697K	99.45M	29.98M	233M
Total Revenues (As Reported)	-	-	-	-	-
Effective Tax Rate - (Ratio)	50.1	-18.84	-41.88	-8.3	24.51
Current Domestic Taxes	45.82M	25.46M	19.61M	4.08M	4.9M
Current Foreign Taxes	26.15M	8.29M	13.79M	6.89M	17.1M
Total Current Taxes	71.97M	33.75M	33.4M	10.97M	22.01M
Total Deferred Taxes	-511K	-8.58M	-1.16M	-1.81M	-1.47M
Normalized Net Income	46.61M	-122M	-56.4M	-50.38M	2.03M
Interest on Long-Term Debt	23.24M	3.39M	2.17M	2.7M	2.49M
Non-Cash Pension Expense	-181K	-819K	-179K	369K	2.95M
Supplemental Operating Expense Items
Advertising Expense	212M	141M	92.01M	82.83M	54.73M
Selling and Marketing Expenses	818M	550M	536M	448M	376M
General and Administrative Expenses	777M	728M	698M	627M	668M
Research And Development Expense From Footnotes	39M	24.53M	39.71M	22.81M	15.43M
Net Rental Expense, Total	16.89M	18.01M	29.05M	23.06M	27.44M
Imputed Operating Lease Interest Expense	9.47M	9.12M	17.17M	11.99M	29.31M
Imputed Operating Lease Depreciation	7.42M	8.9M	11.88M	11.07M	-1.88M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	329M	304M	107M	75.45M	66.62M
Short Term Investments	4.53B	5.22B	6.32B	4.25B	3.7B
Trading Asset Securities, Total	228M	80.31M	86.13M	28.09M	59.97M
Total Cash And Short Term Investments	5.09B	5.61B	6.51B	4.35B	3.82B
Accounts Receivable, Total	7.47B	8.32B	5.48B	4.95B	5.54B
Other Receivables	239M	254M	221M	166M	216M
Total Receivables	7.71B	8.58B	5.7B	5.11B	5.76B
Inventory	2.26B	2.26B	2.19B	1.94B	1.81B
Prepaid Expenses	118M	95M	154M	134M	119M
Other Current Assets, Total	115M	141M	160M	33.88M	12.56M
Total Current Assets	15.29B	16.67B	14.72B	11.57B	11.52B
Gross Property Plant And Equipment	1.96B	2.34B	2.59B	2.58B	2.52B
Accumulated Depreciation	-815M	-1.07B	-1.24B	-1.3B	-1.23B
Net Property Plant And Equipment	1.15B	1.27B	1.35B	1.29B	1.3B
Long-term Investments	1.85B	2.03B	2.47B	1.99B	2.27B
Goodwill	1.07B	1.14B	1.15B	1.09B	1.15B
Other Intangibles, Total	52.09M	54.42M	52.41M	43.25M	106M
Deferred Tax Assets Long-Term	11.63M	13.96M	9.18M	8.58M	16.02M
Other Long-Term Assets, Total	182M	195M	210M	171M	166M
Total Assets	19.6B	21.39B	19.96B	16.16B	16.53B
Liabilities
Accounts Payable, Total	411M	361M	410M	199M	207M
Accrued Expenses, Total	188M	164M	163M	143M	129M
Short-term Borrowings	97.92M	81.71M	144M	303M	315M
Current Portion of Long-Term Debt	1.69B	1.43B	375M	630M	635M
Current Portion of Leases	40.34M	34.29M	34.56M	24.56M	25.07M
Current Income Taxes Payable	55.58M	36.8M	32.56M	36.88M	44.2M
Unearned Revenue Current, Total	18.56M	13.82M	26.51M	41.95M	11.85M
Other Current Liabilities	60.27M	37.32M	47.76M	13.72M	99.04M
Total Current Liabilities	2.56B	2.16B	1.23B	1.39B	1.47B
Long-Term Debt	1.61M	87.48M	760M	277M	4.4M
Long-Term Leases	43.64M	23.28M	42.67M	24.33M	23.96M
Pension & Other Post Retirement Benefits	90.91M	113M	68.88M	22.07M	72.64M
Deferred Tax Liability Non Current	59.88M	55.38M	55.18M	52.78M	68.56M
Other Non Current Liabilities	12.18B	14.21B	13.18B	10.21B	10.53B
Total Liabilities	14.94B	16.65B	15.34B	11.98B	12.17B
Common Stock, Total	435M	435M	435M	435M	435M
Additional Paid In Capital	682M	682M	682M	682M	682M
Retained Earnings	3.48B	3.32B	3.25B	3.19B	3.23B
Comprehensive Income and Other	-344M	-15.54M	-9.95M	-291M	-177M
Total Common Equity	4.26B	4.42B	4.36B	4.01B	4.17B
Minority Interest	406M	318M	262M	166M	199M
Total Equity	4.66B	4.74B	4.62B	4.18B	4.37B
Total Liabilities And Equity	19.6B	21.39B	19.96B	16.16B	16.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.35B	4.35B	4.35B	4.35B	4.35B
ECS Total Common Shares Outstanding	4.35B	4.35B	4.35B	4.35B	4.35B
Book Value / Share	0.98	1.02	1	0.92	0.96
Tangible Book Value	3.14B	3.22B	3.16B	2.88B	2.91B
Tangible Book Value Per Share	0.72	0.74	0.73	0.66	0.67
Total Debt	1.88B	1.65B	1.36B	1.26B	1B
Net Debt	-3.21B	-3.95B	-5.15B	-3.09B	-2.82B
Debt Equivalent of Unfunded Proj. Benefit Obligation	90.91M	113M	68.88M	22.07M	72.64M
Debt Equivalent Oper. Leases	135M	144M	232M	184M	219M
Minority Interest, Total (Incl. Fin. Div)	406M	318M	262M	166M	199M
Equity Method Investments, Total	117M	114M	114M	123M	109M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	481M	358M	383M	399M	310M
Inventories - Work In Process, Total	460M	75.53M	329M	420M	379M
Inventories - Finished Goods, Total	1.32B	1.82B	1.48B	1.12B	1.12B
Land - (BS)	441M	672M	779M	795M	830M
Machinery, Total	842M	906M	937M	918M	905M
Full Time Employees	4.4K	4.9K	4.36K	3.85K	3.23K
Accumulated Allowance for Doubtful Accounts (Supple)	68.55M	86.13M	90.31M	98.18M	101M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	44.25M	-169M	-101M	-111M	45.1M
Depreciation & Amortization - CF	173M	160M	117M	91.3M	85.38M
Amortization of Goodwill and Intangible Assets - (CF)	1.72M	1.78M	736K	174K	8.46M
Depreciation & Amortization, Total	175M	162M	118M	91.48M	93.84M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-159K	-936K	-456K	6.59M	-4.9M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-65.33M
Asset Writedown & Restructuring Costs	-4.05M	-9.72M	-12.74M	9.56M	1.22M
Provision for Credit Losses	-	-	-	-	-
(Income) Loss On Equity Investments - (CF)	-16.33M	-2.69M	-240K	-16.71M	-13.85M
Provision and Write-off of Bad Debts	7.34M	16.96M	2.36M	11.77M	10.81M
Other Operating Activities, Total	121M	81.65M	53.39M	53.41M	151M
Change in Trading Asset Securities	-103M	103M	-6.61M	54.53M	822K
Change In Accounts Receivable	-365M	-225M	-760M	375M	-238M
Change In Inventories	19.65M	62.08M	50.65M	179M	99.03M
Change In Accounts Payable	86.96M	-56.75M	48.27M	-170M	-2.2M
Change in Unearned Revenues	-12.2M	-5.34M	12.69M	15.44M	-30.1M
Change in Other Net Operating Assets	-2.24B	1.35B	2.59B	-2.46B	-229M
Cash from Operations	-2.29B	1.31B	2B	-1.96B	-182M
Capital Expenditure	-145M	-186M	-203M	-92.38M	-33.79M
Sale of Property, Plant, and Equipment	20.11M	3.01M	33M	3.89M	3.04M
Cash Acquisitions	-	-	-	-	27.63M
Divestitures	-	-10.2M	17.08M	-29.6M	27.5M
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-256M	-155M	-440M	347M	-253M
Other Investing Activities, Total	-95.44M	126M	13.47M	10.99M	31.38M
Cash from Investing	-476M	-222M	-580M	239M	-198M
Short Term Debt Issued, Total	34M	3.99M	206M	105M	50.22M
Long-Term Debt Issued, Total	1.48B	765M	1.13B	420M	169M
Total Debt Issued	1.51B	769M	1.34B	525M	219M
Short Term Debt Repaid, Total	-73M	-5M	-56.02M	-36.9M	-26.84M
Long-Term Debt Repaid, Total	-1.66B	-981M	-1.59B	-627M	-442M
Total Debt Repaid	-1.73B	-986M	-1.65B	-664M	-469M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-10.67M	-103M	-134M	-147M	-102M
Cash from Financing	-231M	-320M	-442M	-287M	-351M
Foreign Exchange Rate Adjustments	-12.28M	48.08M	-69.38M	-82.5M	176M
Net Change in Cash	-3.01B	816M	904M	-2.09B	-555M
Supplemental Items
Cash Interest Paid	84.02M	82.96M	61.8M	60.2M	67.72M
Cash Income Tax Paid (Refund)	82.74M	55.06M	30.02M	6.98M	14.47M
Levered Free Cash Flow	-1.81B	-1.16B	2.77B	660M	-370M
Unlevered Free Cash Flow	-1.73B	-1.09B	2.84B	715M	-276M
Change In Net Working Capital	1.85B	985M	-2.93B	-750M	426M
Net Debt Issued / Repaid	-220M	-217M	-308M	-139M	-250M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	0.48	-0.38	-0.02	-0.19	0.55
Return on Total Capital	1.46	-1.19	-0.06	-0.59	1.66
Return On Equity %	1.5	-3.38	-2.25	-2.71	1.48
Return on Common Equity	1.02	-3.9	-2.3	-2.65	1.1
Margin Analysis
Gross Profit Margin %	62.01	62	60.29	61.57	68.71
SG&A Margin	56.53	68.6	60.56	64.87	60.39
EBITDA Margin %	9.71	-1	3.46	0.42	11.89
EBITA Margin %	5.54	-6.5	-0.24	-3.29	8.81
EBIT Margin %	5.48	-6.6	-0.28	-3.3	8.32
Income From Continuing Operations Margin %	2.52