Cash flow Huangshan Novel Co.,Ltd

Equities

002014

CNE000001JZ2

Non-Paper Containers & Packaging

End-of-day quote Shenzhen S.E. Other stock markets 2025-01-24			5-day change	1st Jan Change
10.08 ^CNY	-0.40%		-1.47%	-8.03%

Oct. 24	Huangshan Novel Co.,Ltd Reports Earnings Results for the Nine Months Ended September 30, 2024	CI
Aug. 22	Huangshan Novel Co.,Ltd Reports Earnings Results for the Half Year Ended June 30, 2024	CI

78ad81302b4.Kl1IKdyShLm_wIpVOOBAzhXGfrSppyjHMSsmAw4jbdM.GQskf67K5dDPhuQcXrYYiF6xC8Tz9G3-SH1zMUxCBIRmFQUYicLo0oma_Q

Published financial data: HUANGSHAN NOVEL CO.,LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	2.54B	2.66B	2.92B	3.21B	3.28B
Other Revenues, Total	63.82M	77.53M	106M	90.9M	102M
Total Revenues	2.6B	2.74B	3.02B	3.3B	3.38B
Cost of Goods Sold, Total	1.98B	2.08B	2.36B	2.59B	2.57B
Gross Profit	615M	653M	662M	715M	811M
Selling General & Admin Expenses, Total	211M	199M	199M	189M	186M
Provision for Bad Debts	8.31M	379K	-111K	2.67M	3.14M
R&D Expenses	101M	113M	121M	135M	145M
Other Operating Expenses	16.82M	17.53M	16.48M	22.02M	29.65M
Other Operating Expenses, Total	337M	329M	337M	349M	364M
Operating Income	277M	323M	326M	366M	447M
Interest Expense, Total	-5.59M	-6.35M	-8.21M	-13.2M	-18.45M
Interest And Investment Income	15.99M	18.85M	20.82M	20.65M	34.99M
Net Interest Expenses	10.41M	12.5M	12.61M	7.45M	16.54M
Currency Exchange Gains (Loss)	781K	-3.03M	309K	3.15M	-10.32M
Other Non Operating Income (Expenses)	-904K	-1.85M	-1.38M	-1.18M	-2.05M
EBT, Excl. Unusual Items	288M	331M	337M	376M	451M
Gain (Loss) On Sale Of Investments	970K	1.33M	882K	478K	1.99M
Gain (Loss) On Sale Of Assets	23.13K	-119K	183K	13.63M	91.57K
Asset Writedown	-5.25M	-1.47M	-57.91K	-1.31M	-11.78M
Other Unusual Items	24.96M	18.91M	21.81M	19.03M	19.29M
EBT, Incl. Unusual Items	308M	349M	360M	408M	461M
Income Tax Expense	34M	40.48M	38.8M	38.94M	46.76M
Earnings From Continuing Operations	274M	309M	321M	369M	414M
Net Income to Company	274M	309M	321M	369M	414M
Minority Interest	-5.26M	-5.89M	-5.21M	-5.96M	-6.2M
Net Income - (IS)	269M	303M	316M	363M	408M
Net Income to Common Incl Extra Items	269M	303M	316M	363M	408M
Net Income to Common Excl. Extra Items	269M	303M	316M	363M	408M
Per Share Items
Net EPS - Basic	0.45	0.51	0.52	0.6	0.67
Basic EPS - Continuing Operations	0.45	0.51	0.52	0.6	0.67
Basic Weighted Average Shares Outstanding	598M	596M	602M	605M	609M
Net EPS - Diluted	0.45	0.49	0.52	0.6	0.67
Diluted EPS - Continuing Operations	0.45	0.49	0.52	0.6	0.67
Diluted Weighted Average Shares Outstanding	598M	616M	611M	605M	609M
Normalized Basic EPS	0.29	0.34	0.34	0.38	0.45
Normalized Diluted EPS	0.29	0.33	0.34	0.38	0.45
Dividend Per Share	0.33	0.42	0.42	0.4	0.55
Payout Ratio	64.89	67.31	81.69	73.07	64.1
Supplemental Items
EBITDA	374M	433M	446M	492M	597M
EBITA	279M	325M	327M	368M	449M
EBIT	277M	323M	326M	366M	447M
EBITDAR	376M	434M	448M	494M	599M
Total Revenues (As Reported)	2.6B	2.74B	3.02B	3.3B	3.38B
Effective Tax Rate - (Ratio)	11.03	11.58	10.78	9.55	10.14
Total Current Taxes	37.75M	43.34M	36.85M	37.41M	50.89M
Total Deferred Taxes	-3.75M	-2.86M	1.95M	1.53M	-4.13M
Normalized Net Income	175M	201M	205M	229M	276M
Interest Capitalized	121K	108K	-	-	-
Non-Cash Pension Expense	-	-	20.18K	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	115M	63.64M	54.81M	56.4M	57.58M
General and Administrative Expenses	96.61M	135M	144M	133M	129M
Research And Development Expense From Footnotes	105M	113M	121M	135M	145M
Net Rental Expense, Total	1.44M	1.61M	1.83M	1.96M	2M
Imputed Operating Lease Interest Expense	1.63M	735K	757K	649K	482K
Imputed Operating Lease Depreciation	-188K	874K	1.07M	1.31M	1.52M
Stock-Based Comp., G&A Exp. (Total)	-	27.29M	-	-	2.55M
Stock-Based Comp., Other (Total)	-	-	41.98M	13.4M	-
Total Stock-Based Compensation	-	27.29M	41.98M	13.4M	2.55M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	512M	785M	787M	900M	1.18B
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	251M	301M	30.88M	313M	302M
Total Cash And Short Term Investments	763M	1.09B	818M	1.21B	1.48B
Accounts Receivable, Total	555M	550M	667M	625M	698M
Other Receivables	5.13M	1.44M	647K	794K	1.13M
Notes Receivable	-	287K	89.04K	77.42K	189K
Total Receivables	560M	552M	668M	626M	700M
Inventory	267M	243M	333M	344M	303M
Other Current Assets, Total	12.57M	22.14M	25.12M	50.48M	25.86M
Total Current Assets	1.6B	1.9B	1.84B	2.23B	2.51B
Gross Property Plant And Equipment	1.56B	1.73B	1.96B	2.23B	2.3B
Accumulated Depreciation	-748M	-824M	-940M	-1.02B	-1.13B
Net Property Plant And Equipment	816M	906M	1.02B	1.2B	1.16B
Long-term Investments	-	-	-	-	101M
Other Intangibles, Total	68.37M	79.18M	76.89M	83.27M	82.5M
Deferred Tax Assets Long-Term	24.43M	27.83M	27.29M	24.64M	27.8M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	34.12M	37.79M	42.16M	27.29M	21.27M
Total Assets	2.55B	2.95B	3.01B	3.57B	3.9B
Liabilities
Accounts Payable, Total	412M	440M	474M	489M	433M
Accrued Expenses, Total	119M	124M	132M	157M	167M
Short-term Borrowings	31.31M	195M	122M	466M	528M
Current Portion of Long-Term Debt	-	-	-	4.8M	68.95M
Current Income Taxes Payable	14.65M	10.57M	4.11M	5.34M	8.32M
Unearned Revenue Current, Total	7.95M	13.1M	5.61M	7.75M	22.64M
Other Current Liabilities	9.29M	92.81M	56.89M	26.88M	16.2M
Total Current Liabilities	595M	875M	795M	1.16B	1.24B
Long-Term Debt	-	-	-	45.67M	115M
Unearned Revenue Non Current	45.11M	47.81M	41.49M	45.79M	37.6M
Deferred Tax Liability Non Current	145K	399K	1.8M	-	-
Other Non Current Liabilities	10.8M	-	-	-	1.75M
Total Liabilities	651M	923M	838M	1.25B	1.4B
Common Stock, Total	504M	514M	514M	612M	612M
Additional Paid In Capital	431M	476M	518M	511M	513M
Retained Earnings	995M	1.1B	1.16B	1.17B	1.33B
Treasury Stock	-75.01M	-103M	-67.9M	-14.31M	-
Comprehensive Income and Other	3.92M	3.58M	3.1M	2.94M	2.49M
Total Common Equity	1.86B	1.99B	2.13B	2.28B	2.46B
Minority Interest	37.19M	40.36M	42.85M	46.09M	47.18M
Total Equity	1.9B	2.03B	2.17B	2.32B	2.5B
Total Liabilities And Equity	2.55B	2.95B	3.01B	3.57B	3.9B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	591M	612M	612M	633M	612M
ECS Total Common Shares Outstanding	591M	612M	612M	633M	612M
Book Value / Share	3.14	3.25	3.48	3.6	4.01
Tangible Book Value	1.79B	1.91B	2.05B	2.2B	2.38B
Tangible Book Value Per Share	3.03	3.12	3.35	3.47	3.88
Total Debt	31.31M	195M	122M	516M	712M
Net Debt	-732M	-892M	-696M	-696M	-768M
Debt Equivalent Oper. Leases	11.55M	12.87M	14.61M	15.69M	16.04M
Minority Interest, Total (Incl. Fin. Div)	37.19M	40.36M	42.85M	46.09M	47.18M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	105M	86.5M	124M	128M	104M
Inventories - Work In Process, Total	28.65M	26.26M	35M	44.44M	44.54M
Inventories - Finished Goods, Total	137M	138M	184M	188M	175M
Inventories - Others	10.58M	8.79M	6.07M	3.36M	3.47M
Buildings, Total	371M	414M	483M	565M	648M
Machinery, Total	1.15B	1.26B	1.31B	1.41B	1.61B
Full Time Employees	2.05K	2.15K	2.13K	2.25K	2.28K
Accumulated Allowance for Doubtful Accounts (Supple)	34.99M	35.31M	33.76M	36.43M	39.61M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	269M	303M	316M	363M	408M
Depreciation & Amortization - CF	95.51M	108M	119M	124M	148M
Amortization of Goodwill and Intangible Assets - (CF)	1.44M	1.61M	1.83M	1.96M	2M
Depreciation & Amortization, Total	96.95M	109M	121M	126M	150M
Amortization of Deferred Charges, Total - (CF)	1M	485K	422K	398K	434K
(Gain) Loss From Sale Of Asset	-23.13K	119K	-183K	-13.63M	-91.57K
(Gain) Loss on Sale of Investments - (CF)	-11.65M	-13.5M	-7.79M	-10.43M	-16.26M
Asset Writedown & Restructuring Costs	19.35M	15.77M	10.23M	19.63M	33.89M
Provision for Credit Losses	-	-103K	-	-	-
Provision and Write-off of Bad Debts	-	-	-	2.78M	3.38M
Other Operating Activities, Total	40.2K	8.44M	-6.78M	1.19M	6.72M
Change In Accounts Receivable	-22.57M	-601K	-116M	23.84M	-52.92M
Change In Inventories	24.99M	9.15M	-99.77M	-29.28M	18.73M
Change In Accounts Payable	20.74M	71.74M	35.84M	47.17M	-34.45M
Change In Deferred Taxes	-3.75M	-2.86M	1.95M	1.53M	-4.13M
Change in Other Net Operating Assets	34.23M	47.59M	41.34M	11.55M	2.13M
Cash from Operations	428M	549M	296M	544M	515M
Capital Expenditure	-164M	-262M	-241M	-308M	-110M
Sale of Property, Plant, and Equipment	107K	315K	459K	11.36M	142K
Investment in Marketable and Equity Securities, Total	0	-50M	130M	-282M	162M
Other Investing Activities, Total	15.79M	18.49M	12.38M	13.56M	50.02M
Cash from Investing	-148M	-293M	-97.72M	-566M	103M
Short Term Debt Issued, Total	35.5M	223M	171M	-	-
Long-Term Debt Issued, Total	-	-	-	596M	684M
Total Debt Issued	35.5M	223M	171M	596M	684M
Short Term Debt Repaid, Total	-53.77M	-72.26M	-244M	-	-
Long-Term Debt Repaid, Total	-	-	-	-209M	-498M
Total Debt Repaid	-53.77M	-72.26M	-244M	-209M	-498M
Issuance of Common Stock	-	78.14M	-	-	-
Repurchase of Common Stock	-	-	-158K	-	-
Common Dividends Paid	-175M	-204M	-258M	-265M	-262M
Common & Preferred Stock Dividends Paid	-175M	-204M	-258M	-265M	-262M
Other Financing Activities, Total	-77.73M	-17.72M	-138M	-	461K
Cash from Financing	-271M	7M	-468M	122M	-75M
Foreign Exchange Rate Adjustments	149K	302K	866K	3.75M	405K
Net Change in Cash	10.31M	263M	-269M	103M	543M
Supplemental Items
Cash Income Tax Paid (Refund)	126M	141M	110M	120M	135M
Levered Free Cash Flow	154M	213M	-94.55M	70.12M	265M
Unlevered Free Cash Flow	158M	217M	-89.43M	78.37M	276M
Change In Net Working Capital	-49.98M	-139M	215M	-17.91M	46.55M
Net Debt Issued / Repaid	-18.28M	151M	-72.33M	387M	186M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.82	7.34	6.82	6.96	7.48
Return on Total Capital	9.01	9.73	9	8.92	9.23
Return On Equity %	14.56	15.73	15.28	16.4	17.15
Return on Common Equity	14.56	15.75	15.34	16.46	17.23
Margin Analysis
Gross Profit Margin %	23.65	23.84	21.9	21.65	24.01
SG&A Margin	8.12	7.26	6.59	5.72	5.51
EBITDA Margin %	14.4	15.8	14.76	14.9	17.67
EBITA Margin %	10.73	11.86	10.83	11.15	13.3
EBIT Margin %	10.67	11.8	10.77	11.09	13.24
Income From Continuing Operations Margin %	10.55	11.28	10.62	11.16	12.26
Net Income Margin %	10.35	11.07	10.45	10.98	12.08
Net Avail. For Common Margin %	10.35	11.07	10.45	10.98	12.08
Normalized Net Income Margin	6.71	7.34	6.8	6.93	8.17
Levered Free Cash Flow Margin	5.93	7.77	-3.13	2.12	7.83
Unlevered Free Cash Flow Margin	6.07	7.92	-2.96	2.37	8.17
Asset Turnover
Asset Turnover	1.02	1	1.01	1	0.9
Fixed Assets Turnover	3.27	3.18	3.14	2.97	2.86
Receivables Turnover (Average Receivables)	4.55	4.81	4.79	4.97	4.95
Inventory Turnover (Average Inventory)	6.94	8.18	8.2	7.66	7.94
Short Term Liquidity
Current Ratio	2.7	2.18	2.32	1.93	2.02
Quick Ratio	2.23	1.87	1.87	1.59	1.75
Operating Cash Flow to Current Liabilities	0.72	0.63	0.37	0.47	0.41
Days Sales Outstanding (Average Receivables)	80.14	76.05	76.13	73.4	73.73
Days Outstanding Inventory (Average Inventory)	52.6	44.73	44.49	47.67	45.94
Average Days Payable Outstanding	77.22	75.61	68.05	67.6	66.54
Cash Conversion Cycle (Average Days)	55.53	45.16	52.57	53.47	53.13
Long Term Solvency
Total Debt/Equity	1.65	9.6	5.61	22.21	28.43
Total Debt / Total Capital	1.62	8.76	5.31	18.17	22.14
LT Debt/Equity	-	-	-	1.96	4.59
Long-Term Debt / Total Capital	-	-	-	1.61	3.58
Total Liabilities / Total Assets	25.56	31.24	27.85	34.93	35.83
EBIT / Interest Expense	49.66	50.85	39.68	27.77	24.24
EBITDA / Interest Expense	67.01	68.06	54.38	37.31	32.36
(EBITDA - Capex) / Interest Expense	37.74	26.9	25.06	13.95	26.41
Total Debt / EBITDA	0.08	0.45	0.27	1.05	1.19
Net Debt / EBITDA	-1.95	-2.06	-1.56	-1.41	-1.29
Total Debt / (EBITDA - Capex)