Cash flow DR Corporation Limited

Equities

301177

CNE100005501

Apparel & Accessories

End-of-day quote Shenzhen S.E. Other stock markets 2025-01-17			5-day change	1st Jan Change
24.98 ^CNY	-2.19%		+0.12%	+9.37%

Dec. 15	Certain A Shares of DR Corporation Limited are subject to a Lock-Up Agreement Ending on 16-DEC-2024.	CI
Dec. 12	DR Corporation Limited(SZSE:301177) dropped from Shenzhen Stock Exchange Component Index	CI

45ec08f67cd29d17c0d.ckXGEbOmfDJlH9_gLoe0NeMsP4LbLDRT27hnyAMhflE.OyKJZP33EkAiMo2nSMXiTNJ9eMSKQlogj-cP_zNSBGUADaJT9_IPURJS5w

Published financial data: DR CORPORATION LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.65B	2.45B	4.59B	3.65B	2.17B
Other Revenues, Total	15.58M	16.38M	28.07M	31.39M	6.52M
Total Revenues	1.66B	2.46B	4.62B	3.68B	2.18B
Cost of Goods Sold, Total	496M	760M	1.39B	1.12B	692M
Gross Profit	1.17B	1.7B	3.24B	2.57B	1.49B
Selling General & Admin Expenses, Total	779M	836M	1.34B	1.55B	1.36B
Provision for Bad Debts	1.46M	3.27M	2.02M	-3.7M	7.52M
R&D Expenses	12.96M	16.8M	16.82M	17.94M	21.72M
Other Operating Expenses	98.7M	172M	288M	219M	136M
Other Operating Expenses, Total	892M	1.03B	1.64B	1.79B	1.52B
Operating Income	276M	676M	1.59B	779M	-33.67M
Interest Expense, Total	-	-	-12.33M	-23.83M	-22.15M
Interest And Investment Income	12.07M	18.61M	49.47M	111M	210M
Net Interest Expenses	12.07M	18.61M	37.14M	87.09M	188M
Currency Exchange Gains (Loss)	-1.22M	8.6K	719K	-1.55M	-1.38M
Other Non Operating Income (Expenses)	-8.98M	-16.5M	-22.51M	-25.66M	-46.25M
EBT, Excl. Unusual Items	278M	678M	1.61B	839M	106M
Gain (Loss) On Sale Of Investments	-	6.03M	17.57M	39.29M	31.15M
Gain (Loss) On Sale Of Assets	-1.2K	-417K	-733K	1.24M	19.71M
Asset Writedown	-13	-4	-5.41M	-18.5M	-56.74M
Other Unusual Items	12.26M	7.85M	10.27M	24.06M	12.41M
EBT, Incl. Unusual Items	290M	692M	1.63B	885M	113M
Income Tax Expense	26.13M	128M	330M	156M	43.87M
Earnings From Continuing Operations	264M	563M	1.3B	729M	68.96M
Net Income to Company	264M	563M	1.3B	729M	68.96M
Minority Interest	-	54.14K	10.61K	-	-
Net Income - (IS)	264M	563M	1.3B	729M	68.96M
Net Income to Common Incl Extra Items	264M	563M	1.3B	729M	68.96M
Net Income to Common Excl. Extra Items	264M	563M	1.3B	729M	68.96M
Per Share Items
Net EPS - Basic	0.73	1.56	3.62	1.82	0.17
Basic EPS - Continuing Operations	0.73	1.56	3.62	1.82	0.17
Basic Weighted Average Shares Outstanding	362M	361M	360M	401M	406M
Net EPS - Diluted	0.73	1.56	3.62	1.82	0.17
Diluted EPS - Continuing Operations	0.73	1.56	3.62	1.82	0.17
Diluted Weighted Average Shares Outstanding	362M	361M	360M	401M	406M
Normalized Basic EPS	0.48	1.17	2.8	1.31	0.16
Normalized Diluted EPS	0.48	1.17	2.8	1.31	0.16
Dividend Per Share	-	-	2	1	0.5
Payout Ratio	34.1	21.3	-	109.76	592.84
Supplemental Items
EBITDA	324M	723M	1.6B	783M	-27.32M
EBITA	276M	676M	1.59B	779M	-33.33M
EBIT	276M	676M	1.59B	779M	-33.67M
EBITDAR	-	-	1.68B	821M	-20.89M
Total Revenues (As Reported)	1.66B	2.46B	4.62B	3.68B	2.18B
Effective Tax Rate - (Ratio)	9.01	18.57	20.22	17.64	38.88
Total Current Taxes	-	-	326M	155M	45.09M
Total Deferred Taxes	-	-	4.31M	722K	-1.22M
Normalized Net Income	174M	424M	1.01B	525M	66.44M
Interest on Long-Term Debt	-	-	12.33M	21.54M	14.96M
Supplemental Operating Expense Items
Marketing Expenses	138M	137M	307M	342M	208M
Selling and Marketing Expenses	674M	729M	1.14B	1.38B	1.22B
General and Administrative Expenses	105M	107M	118M	130M	127M
Research And Development Expense From Footnotes	12.96M	16.8M	16.82M	17.94M	21.72M
Net Rental Expense, Total	-	-	80.85M	37.37M	6.43M
Imputed Operating Lease Interest Expense	-	-	-	9.55M	1.33M
Imputed Operating Lease Depreciation	-	-	-	27.83M	5.1M
Stock-Based Comp., G&A Exp. (Total)	5.14M	9.65M	4.09M	561K	187K
Total Stock-Based Compensation	5.14M	9.65M	4.09M	561K	187K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	162M	181M	4.74B	522M	228M
Short Term Investments	-	-	162M	97.46M	476M
Trading Asset Securities, Total	343M	922M	1.82B	5.61B	4.84B
Total Cash And Short Term Investments	505M	1.1B	6.73B	6.23B	5.55B
Accounts Receivable, Total	83.36M	166M	175M	84.48M	83.15M
Other Receivables	365K	755K	5.09M	23.31M	36.72M
Notes Receivable	1.65M	1.04M	1.04M	-	-
Total Receivables	85.38M	168M	181M	108M	120M
Inventory	213M	297M	440M	670M	527M
Prepaid Expenses	42.8M	38.88M	-	-	-
Other Current Assets, Total	37.94M	11.82M	103M	142M	106M
Total Current Assets	884M	1.62B	7.45B	7.15B	6.3B
Gross Property Plant And Equipment	-	9.16M	694M	1.05B	715M
Accumulated Depreciation	-	-5.88M	-258M	-446M	-494M
Net Property Plant And Equipment	4.39M	3.28M	436M	605M	222M
Long-term Investments	-	156M	219M	795M	892M
Other Intangibles, Total	6.2M	6.32M	5.88M	4.26M	6.61M
Loans Receivable Long-Term	-	-	1.44M	350K	-
Deferred Tax Assets Long-Term	3.16M	5.03M	4.77M	8.19M	15.29M
Deferred Charges Long-Term	72.12M	73.66M	93.55M	-	-
Other Long-Term Assets, Total	64.67M	68.48M	58.45M	255M	95.8M
Total Assets	1.03B	1.93B	8.27B	8.82B	7.53B
Liabilities
Accounts Payable, Total	136M	308M	455M	553M	76.15M
Accrued Expenses, Total	90.09M	130M	189M	190M	93.26M
Short-term Borrowings	-	-	-	434M	390M
Current Portion of Leases	-	-	215M	352M	196M
Current Income Taxes Payable	7.02M	59.41M	72.02M	34.16M	301K
Unearned Revenue Current, Total	-	254M	210M	127M	110M
Other Current Liabilities	125M	53.26M	27.97M	21.15M	96.06M
Total Current Liabilities	358M	804M	1.17B	1.71B	961M
Long-Term Leases	-	-	216M	277M	67.78M
Deferred Tax Liability Non Current	-	565K	4.61M	8.75M	14.64M
Other Non Current Liabilities	7.6M	8.69M	12.39M	16.93M	14.1M
Total Liabilities	366M	813M	1.4B	2.01B	1.06B
Common Stock, Total	360M	360M	400M	400M	400M
Additional Paid In Capital	41.68M	51.33M	4.46B	4.4B	4.4B
Retained Earnings	265M	708M	2.01B	1.94B	1.61B
Comprehensive Income and Other	2.62M	-1.25M	-2.69M	59.98M	60.62M
Total Common Equity	669M	1.12B	6.87B	6.8B	6.47B
Minority Interest	-	45.86K	-	-	-
Total Equity	669M	1.12B	6.87B	6.8B	6.47B
Total Liabilities And Equity	1.03B	1.93B	8.27B	8.82B	7.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	360M	360M	400M	400M	400M
ECS Total Common Shares Outstanding	-	360M	400M	400M	400M
Book Value / Share	1.86	3.11	17.17	17.01	16.18
Tangible Book Value	663M	1.11B	6.86B	6.8B	6.47B
Tangible Book Value Per Share	1.84	3.09	17.15	17	16.16
Total Debt	0	0	431M	1.06B	653M
Net Debt	-505M	-1.1B	-6.3B	-5.17B	-4.89B
Debt Equivalent Oper. Leases	-	-	647M	299M	51.42M
Minority Interest, Total (Incl. Fin. Div)	-	45.86K	-	-	-
Account Code - Inventory Valuation	-	8	8	8	8
Inventories - Raw Materials, Total	38.9M	53.02M	102M	135M	127M
Inventories - Work In Process, Total	9.92M	25.24M	23.37M	19.31M	15.45M
Inventories - Finished Goods, Total	164M	221M	316M	517M	393M
Inventories - Others	1.56M	2.9M	4.69M	5.18M	2.71M
Machinery, Total	-	9.16M	13.62M	24.39M	28.66M
Full Time Employees	-	2.63K	3.56K	4.44K	3.2K
Accumulated Allowance for Doubtful Accounts (Supple)	3.45M	6.72M	8.75M	5.05M	3.04M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	264M	563M	1.3B	729M	68.96M
Depreciation & Amortization - CF	47.73M	47.37M	254M	360M	358M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	342K
Depreciation & Amortization, Total	47.73M	47.37M	254M	360M	358M
Amortization of Deferred Charges, Total - (CF)	-	-	59.73M	94.84M	99.3M
(Gain) Loss From Sale Of Asset	-	-	733K	-1.24M	-19.71M
(Gain) Loss on Sale of Investments - (CF)	-	-	-59.2M	-128M	-236M
Asset Writedown & Restructuring Costs	-	-	5.41M	24.18M	92.46M
Other Operating Activities, Total	45.8M	283M	17.56M	28.37M	39.72M
Change In Accounts Receivable	-	-	-35.77M	862K	19.3M
Change In Inventories	-	-	-148M	-230M	189M
Change In Accounts Payable	-	-	133M	-63.64M	-578M
Change In Deferred Taxes	-	-	4.31M	721K	-1.22M
Change in Other Net Operating Assets	-	-	10.17M	3.31M	4.88M
Cash from Operations	357M	894M	1.54B	818M	36.97M
Capital Expenditure	-68.99M	-39.9M	-104M	-155M	-77.2M
Sale of Property, Plant, and Equipment	7.62K	290K	487K	283K	120K
Investment in Marketable and Equity Securities, Total	-207M	-667M	-1.1B	-4.24B	360M
Other Investing Activities, Total	9.98M	14.79M	29.56M	83.39M	171M
Cash from Investing	-266M	-692M	-1.17B	-4.31B	454M
Short Term Debt Issued, Total	-	-	-	525M	518M
Total Debt Issued	-	-	-	525M	518M
Short Term Debt Repaid, Total	-	-	-	-94.32M	-560M
Long-Term Debt Repaid, Total	-	-	-	-	-343M
Total Debt Repaid	-	-	-	-94.32M	-903M
Issuance of Common Stock	-	-	4.46B	-	-
Common Dividends Paid	-90M	-120M	-	-800M	-409M
Common & Preferred Stock Dividends Paid	-90M	-120M	-	-800M	-409M
Other Financing Activities, Total	-613K	-1.23M	-272M	-361M	7.84M
Cash from Financing	-90.61M	-121M	4.19B	-730M	-786M
Foreign Exchange Rate Adjustments	-151K	-1.06M	-1.94M	5.15M	677K
Net Change in Cash	1.07M	79.57M	4.56B	-4.22B	-295M
Supplemental Items
Cash Income Tax Paid (Refund)	216M	259M	779M	606M	328M
Levered Free Cash Flow	204M	749M	1.15B	546M	-37.29M
Unlevered Free Cash Flow	204M	749M	1.15B	561M	-23.45M
Change In Net Working Capital	-47.88M	-309M	56.91M	226M	383M
Net Debt Issued / Repaid	-	-	-	431M	-385M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	19.3	28.49	19.54	5.7	-0.26
Return on Total Capital	29.77	47.27	23.68	6.43	-0.28
Return On Equity %	45.56	63.02	32.61	10.67	1.04
Return on Common Equity	45.56	63.02	32.61	10.67	1.04
Margin Analysis
Gross Profit Margin %	70.18	69.16	70.03	69.67	68.24
SG&A Margin	46.81	33.94	28.9	42.16	62.2
EBITDA Margin %	19.44	29.36	34.54	21.28	-1.25
EBITA Margin %	16.58	27.43	34.49	21.17	-1.53
EBIT Margin %	16.58	27.43	34.49	21.17	-1.54
Income From Continuing Operations Margin %	15.86	22.85	28.16	19.81	3.16
Net Income Margin %	15.86	22.86	28.16	19.81	3.16
Net Avail. For Common Margin %	15.86	22.86	28.16	19.81	3.16
Normalized Net Income Margin	10.43	17.2	21.77	14.25	3.05
Levered Free Cash Flow Margin	12.27	30.4	24.79	14.82	-1.71
Unlevered Free Cash Flow Margin	12.27	30.4	24.96	15.23	-1.08
Asset Turnover
Asset Turnover	1.86	1.66	0.91	0.43	0.27
Fixed Assets Turnover	540.7	642.75	21.07	7.08	5.28
Receivables Turnover (Average Receivables)	22.49	19.62	26.94	28.15	25.94
Inventory Turnover (Average Inventory)	2.4	2.98	3.76	2.01	1.16
Short Term Liquidity
Current Ratio	2.47	2.01	6.37	4.18	6.55
Quick Ratio	1.64	1.58	5.9	3.7	5.9
Operating Cash Flow to Current Liabilities	1	1.11	1.32	0.48	0.04
Days Sales Outstanding (Average Receivables)	16.23	18.65	13.55	12.97	14.07
Days Outstanding Inventory (Average Inventory)	151.87	122.89	97.11	181.41	315.44
Average Days Payable Outstanding	67.64	96.32	91.19	136.74	209.09
Cash Conversion Cycle (Average Days)	100.46	45.23	19.46	57.64	120.42
Long Term Solvency
Total Debt/Equity	-	-	6.27	15.61	10.09
Total Debt / Total Capital	-	-	5.9	13.5	9.17
LT Debt/Equity	-	-	3.14	4.06	1.05
Long-Term Debt / Total Capital	-	-	2.96	3.52	0.95
Total Liabilities / Total Assets	35.33	42.1	16.96	22.83	14.04
EBIT / Interest Expense	-	-	129.31	32.71	-1.52
EBITDA / Interest Expense	-	-	149.91	47.8	14.66
(EBITDA - Capex) / Interest Expense	-	-	141.5	41.27	11.17
Total Debt / EBITDA	-	-	0.23	0.93	2.01
Net Debt / EBITDA	-1.56	-1.52	-3.41	-4.54	-15.07
Total Debt / (EBITDA - Capex)	-	-	0.25	1.08	2.64
Net Debt / (EBITDA - Capex)	-1.98	-1.61	-3.61	-5.25	-19.78
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.96	48.06	87.57	-20.36	-40.78
Gross Profit, 1 Yr. Growth %	11.66	45.91	90.24	-20.77	-42
EBITDA, 1 Yr. Growth %	-17.19	123.53	135.75	-50.99	-103.47
EBITA, 1 Yr. Growth %	-23.51	145.03	136.18	-51.18	-104.26
EBIT, 1 Yr. Growth %	-23.51	145.03	136.81	-51.11	-104.32
Earnings From Cont. Operations, 1 Yr. Growth %	-3.18	113.42	131.12	-43.98	-90.54
Net Income, 1 Yr. Growth %	-3.18	113.44	131.09	-43.98	-90.54
Normalized Net Income, 1 Yr. Growth %	-22.03	144.18	137.35	-47.87	-87.33
Diluted EPS Before Extra, 1 Yr. Growth %	-3.95	113.7	132.05	-49.72	-90.66
Accounts Receivable, 1 Yr. Growth %	31.79	99.37	5.23	-51.69	-1.58
Inventory, 1 Yr. Growth %	6.75	39.34	48.08	52.26	-21.34
Net Property, Plant and Equip., 1 Yr. Growth %	149	-25.43	13.2K	38.78	-63.35
Total Assets, 1 Yr. Growth %	37.68	86.65	328.09	6.61	-14.58
Tangible Book Value, 1 Yr. Growth %	36.41	67.71	516.95	-0.9	-4.89
Common Equity, 1 Yr. Growth %	36.82	67.1	513.99	-0.93	-4.86
Cash From Operations, 1 Yr. Growth %	92.95	149.99	72.82	-47.03	-95.48
Capital Expenditures, 1 Yr. Growth %	20.1	-42.17	160.03	49.8	-50.33
Levered Free Cash Flow, 1 Yr. Growth %	93.01	266.86	53.35	-52.37	-106.83
Unlevered Free Cash Flow, 1 Yr. Growth %	93.01	266.86	54.38	-51.4	-104.18
Dividend Per Share, 1 Yr. Growth %	-	-	-	-50	-50
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	22.06	28.17	66.65	22.22	-31.32
Gross Profit, 2 Yr. CAGR %	22.72	27.64	66.47	22.77	-32.21
EBITDA, 2 Yr. CAGR %	-2.67	36.05	122.1	7.55	-86.93
EBITA, 2 Yr. CAGR %	-8.12	36.91	140.4	7.44	-85.55
EBIT, 2 Yr. CAGR %	-8.12	36.91	140.4	7.59	-85.47
Earnings From Cont. Operations, 2 Yr. CAGR %	2.65	43.75	122.09	13.78	-76.98
Net Income, 2 Yr. CAGR %	2.65	43.75	122.09	13.78	-76.98
Normalized Net Income, 2 Yr. CAGR %	-8.22	37.98	140.74	11.24	-74.3
Diluted EPS Before Extra, 2 Yr. CAGR %	2.12	43.27	122.69	8.01	-78.33
Accounts Receivable, 2 Yr. CAGR %	78.41	62.1	44.84	-28.7	-31.05
Inventory, 2 Yr. CAGR %	30.2	21.96	43.64	50.15	9.44
Net Property, Plant and Equip., 2 Yr. CAGR %	44.67	36.27	895.84	1.26K	-28.68
Total Assets, 2 Yr. CAGR %	35.26	60.31	182.67	113.63	-4.57
Tangible Book Value, 2 Yr. CAGR %