NINGXIA WESTERN VENTURE INDUSTRIAL CO.,LTD.

Balance Sheet Ningxia Western Venture Industrial Co.,Ltd.

Equities

000557

CNE000000FQ1

Ground Freight & Logistics

End-of-day quote Shenzhen S.E. Other stock markets 2024-09-19			5-day change	1st Jan Change
3.990 ^CNY	+2.57%		+2.57%	-17.39%

Aug. 27	Ningxia Western Venture Industrial Co.,Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI
Apr. 25	Ningxia Western Venture Industrial Co.,Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

0b442fdb4294c5f63e285f91.107XMYvbF4_gdOESbUg3jjdqjW-iWPejGDEVl9PCcWM.pXeIa_7vZOiBH4piOCB0zUQY1C3Mbb_1V0Vh9IuYFja2eJ9X2b1y7qsapA

Published financial data: NINGXIA WESTERN VENTURE INDUSTRIAL CO.,LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	787M	883M	1.22B	1.77B	1.64B
Other Revenues, Total	12.54M	13.3M	11.72M	10.86M	21.07M
Total Revenues	800M	896M	1.24B	1.79B	1.67B
Cost of Goods Sold, Total	554M	600M	869M	1.38B	1.32B
Gross Profit	246M	296M	368M	403M	343M
Selling General & Admin Expenses, Total	65.29M	72.17M	71.9M	76.46M	76.11M
Provision for Bad Debts	142K	742K	577K	1.08M	-1.18M
R&D Expenses	-	2.42M	5.18M	11.2M	5.97M
Other Operating Expenses	7.33M	7.14M	9.29M	11.64M	8.77M
Other Operating Expenses, Total	72.76M	82.47M	86.94M	100M	89.67M
Operating Income	173M	213M	281M	303M	253M
Interest Expense, Total	-	-	-239K	-1.72M	-
Interest And Investment Income	12M	17.11M	23.44M	37.61M	55.72M
Net Interest Expenses	12M	17.11M	23.2M	35.89M	55.72M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-173K	87.59K	16.86M	1.44M	227K
EBT, Excl. Unusual Items	185M	230M	321M	340M	309M
Gain (Loss) On Sale Of Investments	-1.73M	-4.75M	-3.3M	7.25M	3.1M
Gain (Loss) On Sale Of Assets	1.99M	-75.76K	-	7.28K	-
Asset Writedown	-	-2.26M	-21.26M	-42.61M	-3.09M
Legal Settlements	-	4.45M	40.16K	4.05M	-
Other Unusual Items	-105M	-11.17M	-14.61M	-7.47M	-8.11M
EBT, Incl. Unusual Items	79.88M	217M	282M	301M	301M
Income Tax Expense	35.09M	44.96M	56.38M	63.26M	58.7M
Earnings From Continuing Operations	44.79M	172M	226M	238M	242M
Net Income to Company	44.79M	172M	226M	238M	242M
Minority Interest	-	-	-	-	-
Net Income - (IS)	44.79M	172M	226M	238M	242M
Net Income to Common Incl Extra Items	44.79M	172M	226M	238M	242M
Net Income to Common Excl. Extra Items	44.79M	172M	226M	238M	242M
Per Share Items
Net EPS - Basic	0.03	0.12	0.15	0.16	0.17
Basic EPS - Continuing Operations	0.03	0.12	0.15	0.16	0.17
Basic Weighted Average Shares Outstanding	1.49B	1.46B	1.46B	1.46B	1.46B
Net EPS - Diluted	0.03	0.12	0.15	0.16	0.17
Diluted EPS - Continuing Operations	0.03	0.12	0.15	0.16	0.17
Diluted Weighted Average Shares Outstanding	1.49B	1.46B	1.46B	1.46B	1.46B
Normalized Basic EPS	0.08	0.1	0.14	0.15	0.13
Normalized Diluted EPS	0.08	0.1	0.14	0.15	0.13
Payout Ratio	37.75	-	-	-	-
Supplemental Items
EBITDA	305M	361M	426M	505M	444M
EBITA	186M	226M	293M	315M	267M
EBIT	173M	213M	281M	303M	253M
EBITDAR	318M	374M	437M	516M	461M
Total Revenues (As Reported)	800M	896M	1.24B	1.79B	1.67B
Effective Tax Rate - (Ratio)	43.92	20.75	19.99	21	19.49
Current Domestic Taxes	-	47.78M	57M	62.19M	56.77M
Total Current Taxes	34.75M	47.78M	57M	62.19M	56.77M
Deferred Domestic Taxes	-	-2.81M	-612K	1.07M	1.93M
Total Deferred Taxes	885K	-2.81M	-612K	1.07M	1.93M
Normalized Net Income	115M	144M	201M	212M	193M
Non-Cash Pension Expense	19.67K	0	-	-	-
Supplemental Operating Expense Items
Advertising Expense	229K	768K	1.19M	1.03M	474K
Selling and Marketing Expenses	2.28M	2.38M	2.65M	2.44M	701K
General and Administrative Expenses	62.87M	69.65M	69.08M	73.88M	75.29M
Research And Development Expense From Footnotes	-	2.42M	5.18M	11.2M	5.97M
Net Rental Expense, Total	12.78M	12.76M	11.1M	11.08M	16.89M
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Maintenance & Repair Expenses, Total	201K	313K	156K	46.86K	106K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	765M	930M	1.14B	1.68B	2.08B
Short Term Investments	2M	-	-	-	-
Total Cash And Short Term Investments	767M	930M	1.14B	1.68B	2.08B
Accounts Receivable, Total	342M	438M	647M	523M	197M
Other Receivables	4.24M	10.78M	1.8M	7.56M	1.49M
Total Receivables	346M	448M	649M	531M	198M
Inventory	46.24M	42.6M	47.6M	45.93M	47.17M
Prepaid Expenses	1.45M	377K	980K	2.73M	107K
Other Current Assets, Total	4.42M	4.06M	5.81M	30.13M	96.97M
Total Current Assets	1.17B	1.43B	1.84B	2.29B	2.42B
Gross Property Plant And Equipment	4.7B	4.73B	4.72B	4.79B	4.91B
Accumulated Depreciation	-1.29B	-1.38B	-1.47B	-1.63B	-1.76B
Net Property Plant And Equipment	3.42B	3.35B	3.25B	3.17B	3.14B
Long-term Investments	168M	164M	160M	167M	171M
Other Intangibles, Total	472M	459M	389M	378M	400M
Deferred Tax Assets Long-Term	6.94M	8.45M	7.54M	11.86M	12.28M
Deferred Charges Long-Term	334K	267K	3.85M	3.25M	2.88M
Other Long-Term Assets, Total	54.45M	60.98M	118M	111M	113M
Total Assets	5.28B	5.47B	5.77B	6.13B	6.26B
Liabilities
Accounts Payable, Total	106M	99.53M	164M	268M	135M
Accrued Expenses, Total	93.99M	87.36M	87.91M	95.98M	96.8M
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Income Taxes Payable	8.35M	7.45M	13.17M	5.86M	7.81M
Unearned Revenue Current, Total	-	23.6M	11.14M	24.44M	26.32M
Other Current Liabilities	60.82M	68.33M	80.3M	93.49M	110M
Total Current Liabilities	269M	286M	357M	487M	375M
Long-Term Debt	-	-	-	-	-
Unearned Revenue Non Current	-	-	-	-	1.93M
Pension & Other Post Retirement Benefits	663K	2.58M	1.84M	1.04M	1.01M
Deferred Tax Liability Non Current	37.51M	36.21M	34.9M	40.3M	42.64M
Other Non Current Liabilities	-	-	30K	25.45K	55.45K
Total Liabilities	308M	325M	394M	529M	421M
Common Stock, Total	1.46B	1.46B	1.46B	1.46B	1.46B
Additional Paid In Capital	4.32B	4.32B	4.32B	4.32B	4.32B
Retained Earnings	-816M	-644M	-419M	-181M	61.8M
Comprehensive Income and Other	10.35M	11.22M	14.98M	3.06M	-
Total Common Equity	4.97B	5.15B	5.38B	5.6B	5.84B
Minority Interest	-	-	-	-	-
Total Equity	4.97B	5.15B	5.38B	5.6B	5.84B
Total Liabilities And Equity	5.28B	5.47B	5.77B	6.13B	6.26B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.46B	1.46B	1.46B	1.46B	1.46B
ECS Total Common Shares Outstanding	1.46B	1.46B	1.46B	1.46B	1.46B
Book Value / Share	3.41	3.53	3.69	3.84	4.01
Tangible Book Value	4.5B	4.69B	4.99B	5.22B	5.44B
Tangible Book Value Per Share	3.09	3.21	3.42	3.58	3.73
Total Debt	0	0	0	0	0
Net Debt	-767M	-930M	-1.14B	-1.68B	-2.08B
Debt Equivalent of Unfunded Proj. Benefit Obligation	663K	2.58M	1.84M	1.04M	1.01M
Debt Equivalent Oper. Leases	102M	102M	88.81M	88.68M	135M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	21.05M	24.97M	34.14M	41.9M	42.53M
Inventories - Work In Process, Total	47.92M	39.38M	24.47M	7.79M	8.58M
Inventories - Finished Goods, Total	1.98M	1.8M	652K	1.42M	1.24M
Inventories - Others	498K	-	-	126K	54.48K
Buildings, Total	489M	429M	423M	406M	394M
Machinery, Total	497M	582M	577M	813M	875M
Full Time Employees	-	1.12K	1.11K	1.09K	1.09K
Accumulated Allowance for Doubtful Accounts (Supple)	16.23M	16.96M	16.71M	18.15M	17.03M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	44.79M	172M	226M	238M	242M
Depreciation & Amortization - CF	120M	135M	133M	190M	178M
Amortization of Goodwill and Intangible Assets - (CF)	12.63M	12.63M	11.65M	12.63M	13.33M
Depreciation & Amortization, Total	132M	148M	145M	202M	191M
Amortization of Deferred Charges, Total - (CF)	497K	95.61K	199K	781K	625K
(Gain) Loss From Sale Of Asset	1.48M	36.02K	-	-7.28K	-
(Gain) Loss on Sale of Investments - (CF)	1.73M	4.75M	3.3M	-7.25M	-3.1M
Asset Writedown & Restructuring Costs	-	2.26M	21.26M	42.61M	3.09M
Provision for Credit Losses	-	-	-	-766K	-63K
Provision and Write-off of Bad Debts	142K	742K	577K	1.84M	-1.12M
Other Operating Activities, Total	4.86M	5.67M	-15.68M	4.62M	-229K
Change In Accounts Receivable	-7.58M	-98.91M	-258M	83.41M	217M
Change In Inventories	5.39M	1.37M	-7.97M	-3.42M	-1.17M
Change In Accounts Payable	-12.61M	-60.46M	109M	-14.43M	12.39M
Change In Deferred Taxes	885K	-2.81M	-612K	1.07M	1.93M
Change in Other Net Operating Assets	1.04M	-	-	-	-
Cash from Operations	173M	172M	223M	549M	663M
Capital Expenditure	-63.93M	-9.52M	-20.63M	-24.93M	-287M
Sale of Property, Plant, and Equipment	946K	109K	208K	271K	-
Investment in Marketable and Equity Securities, Total	67M	5M	-	-	-
Other Investing Activities, Total	1.09M	-	-	-	-
Cash from Investing	5.1M	-4.41M	-20.43M	-24.66M	-287M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-	-
Total Debt Repaid	-	-	-	-	-
Common Dividends Paid	-16.91M	-	-	-	-
Common & Preferred Stock Dividends Paid	-16.91M	-	-	-	-
Other Financing Activities, Total	187M	1.92M	-1.39M	-22.52M	28.33M
Cash from Financing	170M	1.92M	-1.39M	-22.52M	28.33M
Foreign Exchange Rate Adjustments	-	-	-	-	-
Net Change in Cash	348M	170M	202M	502M	404M
Supplemental Items
Cash Income Tax Paid (Refund)	78.2M	87.15M	115M	143M	119M
Levered Free Cash Flow	414M	191M	163M	591M	218M
Unlevered Free Cash Flow	414M	191M	163M	592M	218M
Change In Net Working Capital	-237M	80.36M	137M	-224M	-155M
Net Debt Issued / Repaid	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.96	2.48	3.13	3.18	2.55
Return on Total Capital	2.18	2.63	3.34	3.45	2.77
Return On Equity %	0.9	3.39	4.29	4.33	4.24
Return on Common Equity	0.9	3.39	4.29	4.33	4.24
Margin Analysis
Gross Profit Margin %	30.71	33.01	29.76	22.57	20.59
SG&A Margin	8.16	8.06	5.81	4.28	4.57
EBITDA Margin %	38.17	40.3	34.43	28.29	26.69
EBITA Margin %	23.2	25.21	23.68	17.66	16.01
EBIT Margin %	21.62	23.8	22.73	16.95	15.21
Income From Continuing Operations Margin %	5.6	19.16	18.25	13.33	14.56
Net Income Margin %	5.6	19.16	18.25	13.33	14.56
Net Avail. For Common Margin %	5.6	19.16	18.25	13.33	14.56
Normalized Net Income Margin	14.43	16.08	16.23	11.9	11.6
Levered Free Cash Flow Margin	51.78	21.35	13.16	33.08	13.1
Unlevered Free Cash Flow Margin	51.78	21.35	13.17	33.14	13.1
Asset Turnover
Asset Turnover	0.14	0.17	0.22	0.3	0.27
Fixed Assets Turnover	0.23	0.26	0.37	0.56	0.53
Receivables Turnover (Average Receivables)	2.28	2.26	2.26	3.03	4.57
Inventory Turnover (Average Inventory)	10.85	13.51	19.26	29.56	28.41
Short Term Liquidity
Current Ratio	4.33	4.98	5.16	4.7	6.45
Quick Ratio	4.13	4.82	5	4.54	6.06
Operating Cash Flow to Current Liabilities	0.64	0.6	0.63	1.13	1.76
Days Sales Outstanding (Average Receivables)	160.27	161.62	161.57	120.31	79.88
Days Outstanding Inventory (Average Inventory)	33.65	27.09	18.95	12.35	12.85
Average Days Payable Outstanding	77.63	65.64	55.11	57.09	55.47
Cash Conversion Cycle (Average Days)	116.29	123.08	125.41	75.57	37.26
Long Term Solvency
Total Debt/Equity	-	-	-	-	-
Total Debt / Total Capital	-	-	-	-	-
LT Debt/Equity	-	-	-	-	-
Long-Term Debt / Total Capital	-	-	-	-	-
Total Liabilities / Total Assets	5.82	5.94	6.82	8.62	6.72
EBIT / Interest Expense