Balance Sheet CSI Properties Limited

Equities

497 BMG2581C1091

Real Estate Development & Operations

Market Closed - Hong Kong S.E. Other stock markets 03:08:17 2025-01-13 am EST			5-day change	1st Jan Change
0.0860 ^HKD	+1.18%		+1.18%	+1.18%

Nov. 28	CSI Properties Swings to Loss in Six Months to September	MT
Nov. 28	CSI Properties Limited Reports Earnings Results for the Half Year Ended September 30, 2024	CI

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Published financial data: CSI PROPERTIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2020	2021	2022	2023	2024
Revenues	212M	227M	249M	258M	236M
Gain (Loss) on Sale of Assets, Total (Rev)	3.5B	142M	171M	546M	1.34B
Total Revenues	3.71B	369M	420M	804M	1.58B
Cost of Goods Sold, Total	2.21B	132M	389M	400M	793M
Gross Profit	1.5B	236M	31.33M	404M	786M
Selling General & Admin Expenses, Total	313M	240M	267M	281M	231M
Other Operating Expenses, Total	313M	240M	267M	281M	231M
Operating Income	1.18B	-4.04M	-236M	123M	555M
Interest Expense, Total	-334M	-275M	-310M	-496M	-664M
Interest And Investment Income	335M	400M	268M	305M	372M
Net Interest Expenses	1.41M	125M	-42.19M	-191M	-292M
Income (Loss) On Equity Invest.	402M	247M	93.25M	190M	-1.87M
Currency Exchange Gains (Loss)	15.98M	836K	14.66M	17.63M	10.57M
Other Non Operating Income (Expenses)	-1.7M	26.66M	52.42M	80.14M	28.59M
EBT, Excl. Unusual Items	1.6B	395M	-118M	220M	300M
Gain (Loss) On Sale Of Investments	-295M	31.22M	-571M	47K	-761M
Gain (Loss) On Sale Of Assets	839K	18.29M	742M	163M	-16K
Asset Writedown	-	-	1.28B	-	-36.07M
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	1.31B	444M	1.34B	383M	-497M
Income Tax Expense	65.27M	25.98M	97.1M	18.33M	-41.46M
Earnings From Continuing Operations	1.24B	419M	1.24B	365M	-456M
Net Income to Company	1.24B	419M	1.24B	365M	-456M
Minority Interest	1.62M	2M	-8.46M	4.85M	30.35M
Net Income - (IS)	1.25B	421M	1.23B	370M	-426M
Preferred Dividend and Other Adjustments	89.7M	89.7M	73.42M	34.3M	-
Net Income to Common Incl Extra Items	1.16B	331M	1.16B	336M	-426M
Net Income to Common Excl. Extra Items	1.16B	331M	1.16B	336M	-426M
Per Share Items
Net EPS - Basic	0.12	0.03	0.12	0.04	-0.05
Basic EPS - Continuing Operations	0.12	0.03	0.12	0.04	-0.05
Basic Weighted Average Shares Outstanding	9.81B	9.65B	9.43B	9.37B	9.28B
Net EPS - Diluted	0.12	0.03	0.12	0.04	-0.05
Diluted EPS - Continuing Operations	0.12	0.03	0.12	0.04	-0.05
Diluted Weighted Average Shares Outstanding	9.81B	9.65B	9.43B	9.37B	9.28B
Normalized Basic EPS	0.1	0.03	-0.01	0.02	0.02
Normalized Diluted EPS	0.1	0.03	-0.01	0.02	0.02
Dividend Per Share	0	0	0	0	-
Payout Ratio	5.67	11.43	3.23	10.64	-9.25
Supplemental Items
EBITDA	1.22B	31.23M	-200M	158M	587M
EBITA	1.18B	-4.04M	-236M	123M	555M
EBIT	1.18B	-4.04M	-236M	123M	555M
EBITDAR	1.22B	32.82M	-199M	159M	589M
Total Revenues (As Reported)	3.71B	369M	420M	804M	1.58B
Effective Tax Rate - (Ratio)	4.99	5.85	7.27	4.78	8.34
Current Domestic Taxes	57.68M	17.49M	-26.83M	23.99M	-35.04M
Total Current Taxes	57.68M	17.49M	-26.83M	23.99M	-35.04M
Deferred Domestic Taxes	7.59M	8.49M	124M	-5.66M	-6.43M
Total Deferred Taxes	7.59M	8.49M	124M	-5.66M	-6.43M
Normalized Net Income	1B	249M	-81.97M	142M	218M
Interest Capitalized	25.54M	15.81M	11.27M	7.52M	-
Interest on Long-Term Debt	94.95M	90.64M	121M	126M	126M
Supplemental Operating Expense Items
General and Administrative Expenses	313M	240M	267M	281M	231M
Net Rental Expense, Total	5.32M	1.59M	1.2M	1.74M	1.38M
Imputed Operating Lease Interest Expense	1.32M	297K	245K	567K	598K
Imputed Operating Lease Depreciation	3.99M	1.29M	954K	1.17M	779K

Fiscal Period: March	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	2.67B	1.46B	3.46B	3.15B	2.52B
Trading Asset Securities, Total	1.88B	1.21B	374M	120M	63.48M
Total Cash And Short Term Investments	4.55B	2.68B	3.83B	3.27B	2.58B
Accounts Receivable, Total	17.02M	8.01M	9.34M	6.49M	9.44M
Other Receivables	77.28M	196M	63.44M	231M	254M
Notes Receivable	45.41M	105M	213M	114M	115M
Total Receivables	140M	309M	286M	352M	378M
Inventory	11.5B	12.18B	7.3B	6.39B	5.6B
Prepaid Expenses	44.28M	37.5M	20.94M	34.12M	29.4M
Restricted Cash	6.43M	37.9M	23.6M	15.1M	3.4M
Other Current Assets, Total	438M	306M	30.77M	30.27M	5.11M
Total Current Assets	16.68B	15.55B	11.49B	10.09B	8.6B
Gross Property Plant And Equipment	468M	423M	429M	428M	428M
Accumulated Depreciation	-171M	-161M	-197M	-230M	-263M
Net Property Plant And Equipment	297M	262M	232M	198M	165M
Long-term Investments	4.84B	5.29B	6.34B	6.54B	6.43B
Other Intangibles, Total	11.92M	11.92M	11.92M	12.4M	12.4M
Loans Receivable Long-Term	3.22B	3.1B	2.81B	2.86B	2.9B
Other Long-Term Assets, Total	2.06B	4.43B	8.11B	8.06B	8.14B
Total Assets	27.11B	28.64B	28.99B	27.77B	26.24B
Liabilities
Accrued Expenses, Total	127M	175M	161M	88.71M	81.4M
Short-term Borrowings	1.46B	1.71B	1.74B	1.37B	1.89B
Current Portion of Long-Term Debt	1.08B	2.78B	1.51B	2B	3.81B
Current Income Taxes Payable	265M	231M	164M	185M	129M
Unearned Revenue Current, Total	103M	142M	112M	208M	87.57M
Other Current Liabilities	116M	262M	336M	283M	61.25M
Total Current Liabilities	3.15B	5.3B	4.02B	4.14B	6.06B
Long-Term Debt	9.49B	8.45B	9.02B	9.09B	6.31B
Deferred Tax Liability Non Current	19.58M	28.08M	148M	142M	136M
Total Liabilities	12.65B	13.77B	13.19B	13.37B	12.5B
Common Stock, Total	78.46M	76.12M	74.97M	74.95M	73.68M
Additional Paid In Capital	2.12B	2.12B	2.12B	2.12B	2.12B
Retained Earnings	10.85B	11.06B	12.14B	12.42B	11.93B
Treasury Stock	-	-6.57M	-	-	-
Comprehensive Income and Other	1.37B	1.58B	1.42B	-251M	-399M
Total Common Equity	14.42B	14.84B	15.76B	14.36B	13.73B
Minority Interest	36.25M	33.88M	41.93M	35.48M	3.53M
Total Equity	14.46B	14.87B	15.81B	14.4B	13.74B
Total Liabilities And Equity	27.11B	28.64B	28.99B	27.77B	26.24B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	9.81B	9.49B	9.37B	9.37B	9.21B
ECS Total Common Shares Outstanding	9.81B	9.49B	9.37B	9.37B	9.21B
Book Value / Share	1.31	1.4	1.55	1.53	1.49
Tangible Book Value	14.41B	14.83B	15.75B	14.35B	13.72B
Tangible Book Value Per Share	1.31	1.4	1.55	1.53	1.49
Total Debt	12.02B	12.94B	12.27B	12.46B	12.01B
Net Debt	7.47B	10.26B	8.44B	9.19B	9.42B
Debt Equivalent Oper. Leases	42.54M	12.71M	9.59M	13.94M	11.02M
Minority Interest, Total (Incl. Fin. Div)	36.25M	33.88M	41.93M	35.48M	3.53M
Equity Method Investments, Total	4.67B	5.11B	6.02B	6.19B	6.15B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	957M	1.56B	1.06B	-	-
Inventories - Finished Goods, Total	10.55B	10.62B	6.24B	6.39B	5.6B
Land - (BS)	304M	304M	304M	304M	304M
Machinery, Total	139M	94.05M	95.09M	93.65M	93.62M
Full Time Employees	104	105	115	106	103
Part Time Employees	-	-	-	-	1

Fiscal Period: March	2020	2021	2022	2023	2024
Net Income	1.25B	421M	1.34B	383M	-426M
Depreciation & Amortization - CF	33.7M	35.27M	35.71M	34.66M	32.78M
Depreciation & Amortization, Total	33.7M	35.27M	35.71M	34.66M	32.78M
(Gain) Loss From Sale Of Asset	-839K	-18.29M	-742M	-164M	16K
(Gain) Loss on Sale of Investments - (CF)	258M	-93.28M	678M	59.89M	162M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Provision for Credit Losses	-	-	-37.86M	-	-
(Income) Loss On Equity Investments - (CF)	-402M	-247M	-93.25M	-190M	1.87M
Other Operating Activities, Total	414M	-121M	-1.18B	97.25M	836M
Change in Trading Asset Securities	-	744M	387M	112M	8.1M
Change In Accounts Receivable	206M	32.69M	125M	-26.01M	-21.46M
Change In Inventories	130M	-508M	-468M	245M	828M
Change In Accounts Payable	35.79M	246M	-48.06M	-107M	-185M
Change in Unearned Revenues	-1.04B	-	10.59M	103M	-113M
Change in Other Net Operating Assets	26.72M	-31.47M	14.3M	8.5M	-
Cash from Operations	905M	460M	13.84M	557M	1.12B
Capital Expenditure	-17.85M	-201K	-6.02M	-17K	-4K
Sale of Property, Plant, and Equipment	4.17M	-	-	700K	-
Cash Acquisitions	-	-	-	-	-
Divestitures	-	23.25M	1.02B	207M	-
Sale (Purchase) of Intangible assets	-	-	-	-490K	-
Investment in Marketable and Equity Securities, Total	-861M	-2.21B	140M	-136M	-708M
Net (Increase) Decrease in Loans Originated / Sold - Investing	47.24M	14.07M	-25.99M	107M	3.39M
Other Investing Activities, Total	857M	228M	78.36M	288M	201M
Cash from Investing	29.84M	-1.94B	1.21B	466M	-504M
Short Term Debt Issued, Total	323M	241M	492M	384M	479M
Long-Term Debt Issued, Total	6.31B	3.17B	4.37B	3.89B	1.78B
Total Debt Issued	6.64B	3.42B	4.86B	4.28B	2.26B
Short Term Debt Repaid, Total	-326M	-50.55M	-90M	-33.03M	-41.47M
Long-Term Debt Repaid, Total	-5.37B	-2.57B	-3.24B	-3.73B	-2.75B
Total Debt Repaid	-5.69B	-2.62B	-3.33B	-3.76B	-2.79B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-96.77M	-78.3M	-28.23M	-545K	-19.17M
Common Dividends Paid	-70.62M	-48.07M	-39.73M	-39.36M	-39.35M
Common & Preferred Stock Dividends Paid	-70.62M	-48.07M	-39.73M	-39.36M	-39.35M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-450M	-391M	-692M	-1.81B	-662M
Cash from Financing	327M	278M	770M	-1.33B	-1.25B
Net Change in Cash	1.26B	-1.21B	1.99B	-309M	-626M
Supplemental Items
Cash Interest Paid	361M	297M	312M	492M	661M
Cash Income Tax Paid (Refund)	13.87M	41.97M	42.87M	2.12M	20.51M
Levered Free Cash Flow	276M	-680M	4.86B	638M	362M
Unlevered Free Cash Flow	484M	-508M	5.05B	948M	777M
Change In Net Working Capital	272M	541M	-5.17B	-837M	-397M
Net Debt Issued / Repaid	945M	795M	1.53B	517M	-526M

Fiscal Period: March	2020	2021	2022	2023	2024
Profitability
Return on Assets	2.77	-0.01	-0.51	0.27	1.28
Return on Total Capital	2.89	-0.01	-0.53	0.28	1.32
Return On Equity %	8.86	2.85	8.07	2.42	-3.24
Return on Common Equity	8.25	2.26	7.56	2.23	-3.03
Margin Analysis
Gross Profit Margin %	40.36	64.08	7.45	50.22	49.78
SG&A Margin	8.43	65.17	63.52	34.95	14.66
EBITDA Margin %	32.85	8.47	-47.58	19.58	37.2
EBITA Margin %	31.94	-1.1	-56.07	15.27	35.12
EBIT Margin %	31.94	-1.1	-56.07	15.27	35.12
Income From Continuing Operations Margin %	33.52	113.5	294.45	45.4	-28.87
Net Income Margin %	33.57	114.05	292.44	46	-26.95
Net Avail. For Common Margin %	31.15	89.72	274.98	41.73	-26.95
Normalized Net Income Margin	27.05	67.5	-19.5	17.71	13.79
Levered Free Cash Flow Margin	7.43	-184.5	1.16K	79.34	22.92
Unlevered Free Cash Flow Margin	13.06	-137.84	1.2K	117.85	49.19
Asset Turnover
Asset Turnover	0.14	0.01	0.01	0.03	0.06
Fixed Assets Turnover	13.51	1.32	1.7	3.74	8.7
Receivables Turnover (Average Receivables)	7.47	18.13	28.76	32.66	29.61
Inventory Turnover (Average Inventory)	0.19	0.01	0.04	0.06	0.13
Short Term Liquidity
Current Ratio	5.3	2.93	2.86	2.44	1.42
Quick Ratio	1.48	0.54	0.97	0.85	0.47
Operating Cash Flow to Current Liabilities	0.29	0.09	0	0.13	0.19
Days Sales Outstanding (Average Receivables)	48.97	20.13	12.69	11.17	12.36
Days Outstanding Inventory (Average Inventory)	1.95K	32.63K	9.14K	6.24K	2.77K
Long Term Solvency
Total Debt/Equity	83.14	86.98	77.6	86.52	87.42
Total Debt / Total Capital	45.4	46.52	43.69	46.39	46.64
LT Debt/Equity	65.6	56.8	57.05	63.11	45.92
Long-Term Debt / Total Capital	35.82	30.38	32.12	33.83	24.5
Total Liabilities / Total Assets	46.67	48.08	45.48	48.14	47.65
EBIT / Interest Expense	3.55	-0.01	-0.76	0.25	0.84
EBITDA / Interest Expense	3.65	0.11	-0.64	0.32	0.88
(EBITDA - Capex) / Interest Expense	3.6	0.11	-0.66	0.32	0.88
Total Debt / EBITDA	9.87	414.16	-61.32	79.1	20.44
Net Debt / EBITDA	6.13	328.44	-42.17	58.36	16.04
Total Debt / (EBITDA - Capex)	10.01	416.84	-59.52	79.11	20.44
Net Debt / (EBITDA - Capex)	6.22	330.57	-40.94	58.37	16.04
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.87	-90.06	14.04	91.28	96.34
Gross Profit, 1 Yr. Growth %	40.65	-84.22	-86.74	1.19K	94.61
EBITDA, 1 Yr. Growth %	44.8	-97.44	-740.53	-178.73	272.94
EBITA, 1 Yr. Growth %