NINGBO BOWAY ALLOY MATERIAL COMPANY LIMITED

Cash flow Ningbo Boway Alloy Material Company Limited

Equities

601137

CNE100000ZK1

Specialty Mining & Metals

End-of-day quote Shanghai S.E. Other stock markets 2025-02-13			5-day change	1st Jan Change
20.40 ^CNY	-3.23%		+4.56%	+0.49%

Oct. 25	Ningbo Boway Alloy Material's Q3 Profit Rises 39%	MT
Oct. 24	Ningbo Boway Alloy Material Company Limited Reports Earnings Results for the Nine Months Ended September 30, 2024	CI

c.QIPJgO3mobwnBUNg-aKEj8p1YOFDN7GxvseBaBEYe7M.GOX664Or7PpVQBYSseO8xfgkOY8xTfjW4a7sPV9UTNkp6_j6t9XVhHU0NA

Published financial data: NINGBO BOWAY ALLOY MATERIAL COMPANY LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	7.43B	7.5B	9.84B	13.13B	17.45B
Other Revenues, Total	166M	84.41M	197M	321M	306M
Total Revenues	7.59B	7.59B	10.04B	13.45B	17.76B
Cost of Goods Sold, Total	6.41B	6.31B	8.82B	11.72B	14.74B
Gross Profit	1.18B	1.28B	1.22B	1.72B	3.02B
Selling General & Admin Expenses, Total	485M	494M	434M	524M	799M
Provision for Bad Debts	-	-	53.02M	10.73M	29.51M
R&D Expenses	178M	208M	309M	343M	444M
Other Operating Expenses	15.56M	31.43M	28.25M	22.59M	-7.2M
Other Operating Expenses, Total	679M	733M	824M	900M	1.27B
Operating Income	505M	542M	397M	824M	1.75B
Interest Expense, Total	-70.06M	-75.45M	-110M	-147M	-148M
Interest And Investment Income	6.09M	3.44M	3.39M	4.01M	5.72M
Net Interest Expenses	-63.97M	-72.01M	-106M	-143M	-143M
Currency Exchange Gains (Loss)	12.31M	-25.74M	-16.87M	142M	92.81M
Other Non Operating Income (Expenses)	-20.88M	-18.4M	-6.6M	-14.5M	-14.2M
EBT, Excl. Unusual Items	433M	426M	267M	809M	1.69B
Impairment of Goodwill	-691K	-674K	-	-262K	-238K
Gain (Loss) On Sale Of Investments	309K	-737K	439K	-32.14M	-51.5M
Gain (Loss) On Sale Of Assets	-1.81M	-1.04M	-306K	-15.38M	-9.61M
Asset Writedown	-	-	-252K	-194M	-373M
Other Unusual Items	35.31M	39.57M	70.96M	33.55M	32.84M
EBT, Incl. Unusual Items	466M	463M	338M	600M	1.29B
Income Tax Expense	21.51M	34.28M	27.81M	63.3M	162M
Earnings From Continuing Operations	444M	429M	310M	537M	1.12B
Net Income to Company	444M	429M	310M	537M	1.12B
Minority Interest	-4.38M	-	-	-	-
Net Income - (IS)	440M	429M	310M	537M	1.12B
Net Income to Common Incl Extra Items	440M	429M	310M	537M	1.12B
Net Income to Common Excl. Extra Items	440M	429M	310M	537M	1.12B
Per Share Items
Net EPS - Basic	0.66	0.61	0.39	0.68	1.43
Basic EPS - Continuing Operations	0.66	0.61	0.39	0.68	1.43
Basic Weighted Average Shares Outstanding	667M	703M	788M	790M	786M
Net EPS - Diluted	0.64	0.57	0.39	0.68	1.43
Diluted EPS - Continuing Operations	0.64	0.57	0.39	0.68	1.43
Diluted Weighted Average Shares Outstanding	688M	752M	788M	790M	786M
Normalized Basic EPS	0.4	0.38	0.21	0.64	1.34
Normalized Diluted EPS	0.39	0.35	0.21	0.64	1.34
Dividend Per Share	0.2	0.17	0.12	0.21	0.45
Payout Ratio	26.06	46.05	77.56	44.83	26.89
Supplemental Items
EBITDA	732M	804M	682M	1.16B	2.18B
EBITA	522M	560M	412M	833M	1.76B
EBIT	505M	542M	397M	824M	1.75B
EBITDAR	744M	823M	700M	1.18B	2.19B
Total Revenues (As Reported)	7.59B	7.59B	10.04B	13.45B	17.76B
Effective Tax Rate - (Ratio)	4.62	7.4	8.23	10.54	12.61
Total Current Taxes	34.05M	33.61M	31.84M	58.13M	187M
Total Deferred Taxes	-12.54M	670K	-4.03M	5.17M	-25M
Normalized Net Income	266M	266M	167M	505M	1.05B
Interest Capitalized	3.68M	18.64M	6.85M	5.38M	30.35M
Interest on Long-Term Debt	-	1.17B	7.79M	6.64M	4.92M
Non-Cash Pension Expense	1.77M	1.01M	917K	968K	2.4M
Supplemental Operating Expense Items
Advertising Expense	8.5M	6.36M	5.31M	10.12M	13.17M
Selling and Marketing Expenses	231M	232M	130M	167M	236M
General and Administrative Expenses	248M	251M	295M	351M	556M
Research And Development Expense From Footnotes	178M	208M	309M	345M	446M
Net Rental Expense, Total	11.79M	18.72M	17.78M	17.6M	16.58M
Imputed Operating Lease Interest Expense	3.75M	6.22M	5.6M	5.31M	4.78M
Imputed Operating Lease Depreciation	8.04M	12.5M	12.18M	12.29M	11.79M
Maintenance & Repair Expenses, Total	3.51M	6.27M	3.29M	5.33M	7.99M
Stock-Based Comp., R&D Exp. (Total)	-	-	5.44M	17.76M	17.76M
Stock-Based Comp., G&A Exp. (Total)	-	-	11.24M	436K	12.52M
Total Stock-Based Compensation	-	-	16.68M	18.2M	30.28M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	827M	785M	1.23B	1.48B	3.13B
Short Term Investments	-	30M	-	-	-
Trading Asset Securities, Total	-	7.19M	37.44M	2.47M	753K
Total Cash And Short Term Investments	827M	822M	1.27B	1.48B	3.14B
Accounts Receivable, Total	1B	1.09B	1.27B	1.57B	1.99B
Other Receivables	81.54M	55.97M	68.38M	80.17M	74.66M
Total Receivables	1.08B	1.15B	1.34B	1.65B	2.07B
Inventory	1.7B	1.99B	3.33B	4.78B	4.78B
Prepaid Expenses	1.76M	2.92M	2.7M	6.21M	7.69M
Other Current Assets, Total	196M	378M	380M	745M	527M
Total Current Assets	3.81B	4.34B	6.32B	8.67B	10.52B
Gross Property Plant And Equipment	3.98B	5.22B	6.33B	6.99B	6.72B
Accumulated Depreciation	-883M	-1.12B	-1.36B	-1.7B	-1.73B
Net Property Plant And Equipment	3.1B	4.1B	4.98B	5.3B	4.99B
Goodwill	13.61M	13.36M	11.96M	12.08M	12.55M
Other Intangibles, Total	288M	289M	281M	282M	355M
Deferred Tax Assets Long-Term	45.04M	45.16M	45.55M	44.85M	61.15M
Deferred Charges Long-Term	31.03M	89.1M	89.14M	101M	190M
Other Long-Term Assets, Total	308M	220M	104M	82.28M	220M
Total Assets	7.59B	9.1B	11.83B	14.48B	16.35B
Liabilities
Accounts Payable, Total	834M	978M	1.27B	2.14B	1.99B
Accrued Expenses, Total	130M	153M	169M	238M	299M
Short-term Borrowings	1.33B	1.79B	2.78B	1.38B	1.65B
Current Portion of Long-Term Debt	296M	143M	187M	434M	1.35B
Current Portion of Leases	4.48M	4.18M	9.79M	10.48M	11.08M
Current Income Taxes Payable	12.06M	6.64M	7.54M	28.08M	109M
Unearned Revenue Current, Total	386M	261M	734M	1.48B	870M
Other Current Liabilities	23.8M	20.36M	245M	47.94M	45.04M
Total Current Liabilities	3.02B	3.36B	5.4B	5.75B	6.32B
Long-Term Debt	519M	284M	704M	2.4B	2.51B
Long-Term Leases	83.3M	73.73M	82.69M	88.19M	78.51M
Unearned Revenue Non Current	99.39M	93.67M	114M	154M	265M
Deferred Tax Liability Non Current	4.14M	4.93M	5.1M	13.65M	4.6M
Other Non Current Liabilities	117M	112M	95.5M	60.49M	58.43M
Total Liabilities	3.84B	3.93B	6.41B	8.47B	9.24B
Common Stock, Total	685M	790M	790M	790M	782M
Additional Paid In Capital	1.51B	2.62B	2.63B	2.65B	2.73B
Retained Earnings	1.64B	1.93B	2.11B	2.55B	3.51B
Treasury Stock	-100M	-100M	-14.26M	-14.26M	-43.54M
Comprehensive Income and Other	25M	-61.81M	-96.21M	40.61M	136M
Total Common Equity	3.75B	5.17B	5.42B	6.02B	7.11B
Total Equity	3.75B	5.17B	5.42B	6.02B	7.11B
Total Liabilities And Equity	7.59B	9.1B	11.83B	14.48B	16.35B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	671M	777M	789M	789M	771M
ECS Total Common Shares Outstanding	671M	777M	789M	789M	771M
Book Value / Share	5.59	6.66	6.87	7.63	9.22
Tangible Book Value	3.45B	4.87B	5.13B	5.72B	6.74B
Tangible Book Value Per Share	5.14	6.27	6.5	7.26	8.74
Total Debt	2.23B	2.3B	3.76B	4.31B	5.6B
Net Debt	1.41B	1.48B	2.5B	2.82B	2.46B
Debt Equivalent of Unfunded Proj. Benefit Obligation	103M	100M	84.18M	65.32M	62.04M
Debt Equivalent Oper. Leases	94.32M	150M	142M	141M	133M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	514M	723M	1.09B	1.68B	1.26B
Inventories - Work In Process, Total	526M	663M	1.15B	1.33B	1.21B
Inventories - Finished Goods, Total	680M	624M	1.11B	1.79B	-
Inventories - Others	-	-	-	-	2.35B
Land - (BS)	28.45M	29.21M	26.32M	27.06M	28.65M
Buildings, Total	499M	513M	504M	702M	796M
Machinery, Total	2.85B	3.13B	3.66B	4.37B	5.01B
Full Time Employees	4.48K	5.03K	-	6.32K	6.19K
Assets under Capital Lease - Gross	110M	103M	100M	110M	-
Assets under Capital Lease - Accumulated Depreciation	-13.5M	-17.46M	-21.82M	-29.1M	-
Accumulated Allowance for Doubtful Accounts (Supple)	54.18M	57.49M	66.92M	80.64M	92.15M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	440M	429M	310M	537M	1.12B
Depreciation & Amortization - CF	210M	244M	275M	338M	424M
Amortization of Goodwill and Intangible Assets - (CF)	16.5M	18.07M	15.21M	8.36M	8.44M
Depreciation & Amortization, Total	227M	262M	290M	346M	432M
Amortization of Deferred Charges, Total - (CF)	2.55M	5.32M	9.15M	12.72M	20.1M
(Gain) Loss From Sale Of Asset	-226K	73.6K	306K	-888K	-546K
(Gain) Loss on Sale of Investments - (CF)	-20.3K	-2.33K	-1.76M	-3.17M	82.94M
Asset Writedown & Restructuring Costs	2.72M	1.64M	252K	211M	351M
Provision and Write-off of Bad Debts	-	-	53.02M	10.73M	29.51M
Other Operating Activities, Total	95.36M	124M	124M	50.97M	80.19M
Change In Accounts Receivable	-533M	-61.17M	-341M	-702M	-161M
Change In Inventories	-356M	-342M	-1.38B	-1.34B	1.89M
Change In Accounts Payable	831M	-108M	1.05B	1.36B	-522M
Change In Deferred Taxes	-16.02M	1.45M	-3.34M	9.93M	-23.84M
Change in Other Net Operating Assets	-12.22M	1.72M	19.31M	34.71M	34.33M
Cash from Operations	681M	314M	126M	530M	1.45B
Capital Expenditure	-867M	-1.24B	-1B	-940M	-883M
Sale of Property, Plant, and Equipment	3.3M	3.9M	3.44M	9.17M	5.65M
Cash Acquisitions	-495M	13.78M	-	-	-
Investment in Marketable and Equity Securities, Total	-100M	-43.18M	-36.87K	32.62M	-102M
Other Investing Activities, Total	20.3K	-43.32M	11.65M	4.93M	42.38M
Cash from Investing	-1.46B	-1.31B	-986M	-894M	-937M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	3.9B	4.53B	4.31B	7.01B	5.66B
Total Debt Issued	3.9B	4.53B	4.31B	7.01B	5.66B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-3.14B	-3.26B	-2.85B	-6.5B	-4.28B
Total Debt Repaid	-3.14B	-3.26B	-2.85B	-6.5B	-4.28B
Issuance of Common Stock	-	-	100M	-	29.28M
Repurchase of Common Stock	-	-	-14.26M	-	-1
Common Dividends Paid	-115M	-198M	-241M	-241M	-302M
Common & Preferred Stock Dividends Paid	-115M	-198M	-241M	-241M	-302M
Other Financing Activities, Total	-8.42M	-58.23M	-30.92M	53.4M	5.29M
Cash from Financing	632M	1.01B	1.28B	322M	1.11B
Foreign Exchange Rate Adjustments	14.01M	-38.06M	-31.54M	197M	104M
Net Change in Cash	-131M	-20.01M	383M	156M	1.73B
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	6.56M	-66.91M	-217M	-410M	-355M
Levered Free Cash Flow	-452M	-1.18B	-1.18B	-764M	-215M
Unlevered Free Cash Flow	-408M	-1.14B	-1.11B	-673M	-123M
Change In Net Working Capital	86.13M	505M	670M	625M	817M
Net Debt Issued / Repaid	756M	1.27B	1.46B	510M	1.38B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.54	4.06	2.37	3.92	7.1
Return on Total Capital	5.59	5.04	3	5.28	9.51
Return On Equity %	11.7	9.61	5.86	9.39	17.12
Return on Common Equity	11.66	9.61	5.86	9.39	17.12
Margin Analysis
Gross Profit Margin %	15.6	16.8	12.16	12.82	16.99
SG&A Margin	6.39	6.51	4.33	3.89	4.5
EBITDA Margin %	9.64	10.6	6.79	8.66	12.26
EBITA Margin %	6.87	7.38	4.1	6.19	9.91
EBIT Margin %	6.66	7.14	3.95	6.13	9.86
Income From Continuing Operations Margin %	5.85	5.65	3.09	3.99	6.33
Net Income Margin %	5.8	5.65	3.09	3.99	6.33
Net Avail. For Common Margin %	5.8	5.65	3.09	3.99	6.33
Normalized Net Income Margin	3.51	3.51	1.66	3.76	5.94
Levered Free Cash Flow Margin	-5.95	-15.6	-11.72	-5.68	-1.21
Unlevered Free Cash Flow Margin	-5.37	-14.98	-11.03	-5	-0.69
Asset Turnover
Asset Turnover	1.09	0.91	0.96	1.02	1.15
Fixed Assets Turnover	2.66	2.11	2.21	2.62	3.45
Receivables Turnover (Average Receivables)