SHANGHAI SHYNDEC PHARMACEUTICAL CO., LTD.

Cash flow Shanghai Shyndec Pharmaceutical Co., Ltd.

Equities

600420

CNE000001JG2

Pharmaceuticals

End-of-day quote Shanghai S.E. Other stock markets 2024-12-06			5-day change	1st Jan Change
12.28 ^CNY	+1.82%		+0.82%	+25.43%

Dec. 06	Shyndec Pharma Unit's Codeine Phosphate Included in China's Listing of Chemical Raw Materials	MT
Dec. 03	Shanghai Shyndec Pharmaceutical Gets Drug Registration for Eye Drops	MT

4ae8284b0b9b4272d7869a0b5c7ab6c.PrJ_ECdxVY5F09eGWUpw31fczAeN6Sb-J6vYmKhaQck.CegISGQaBugiq4-zDg0vjBqX-kLbn1G8Y-K-9ckOBvEN5gVnVR0avyu5uA

Published financial data: SHANGHAI SHYNDEC PHARMACEUTICAL CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	12.05B	12.41B	13.76B	12.81B	11.79B
Other Revenues, Total	149M	148M	189M	150M	283M
Total Revenues	12.2B	12.56B	13.94B	12.96B	12.07B
Cost of Goods Sold, Total	6.17B	6.77B	7.91B	8.09B	7.54B
Gross Profit	6.03B	5.79B	6.04B	4.87B	4.53B
Selling General & Admin Expenses, Total	4.33B	4.05B	4.22B	3.41B	2.91B
Provision for Bad Debts	6.76M	26.24M	24.87M	-17.59M	-18.05M
R&D Expenses	417M	494M	585M	517M	562M
Other Operating Expenses	134M	127M	128M	113M	115M
Other Operating Expenses, Total	4.89B	4.7B	4.96B	4.03B	3.57B
Operating Income	1.14B	1.09B	1.08B	841M	967M
Interest Expense, Total	-189M	-124M	-110M	-107M	-57.88M
Interest And Investment Income	51.65M	36.78M	48.84M	61.69M	136M
Net Interest Expenses	-138M	-86.73M	-61.62M	-45.62M	78.59M
Currency Exchange Gains (Loss)	21.74M	-64.01M	-32.65M	98.32M	28.44M
Other Non Operating Income (Expenses)	-10.17M	-9.6M	-5.75M	-4.23M	-4.09M
EBT, Excl. Unusual Items	1.01B	935M	978M	890M	1.07B
Impairment of Goodwill	-	-44.76M	-132M	-	-
Gain (Loss) On Sale Of Investments	-42.81M	-21.81M	-24.04M	-	-
Gain (Loss) On Sale Of Assets	-14.57M	21.15M	203K	-1.1M	-31.85M
Asset Writedown	-753K	-1.73M	-10.81M	-4.93M	-13.66M
Legal Settlements	-	-	-	-	-
Other Unusual Items	119M	154M	107M	100M	71.77M
EBT, Incl. Unusual Items	1.07B	1.04B	918M	984M	1.1B
Income Tax Expense	144M	141M	97.06M	117M	132M
Earnings From Continuing Operations	928M	900M	821M	867M	965M
Net Income to Company	928M	900M	821M	867M	965M
Minority Interest	-272M	-251M	-253M	-240M	-273M
Net Income - (IS)	656M	649M	568M	628M	692M
Net Income to Common Incl Extra Items	656M	649M	568M	628M	692M
Net Income to Common Excl. Extra Items	656M	649M	568M	628M	692M
Per Share Items
Net EPS - Basic	0.62	0.63	0.55	0.61	0.54
Basic EPS - Continuing Operations	0.62	0.63	0.55	0.61	0.54
Basic Weighted Average Shares Outstanding	1.05B	1.03B	1.03B	1.03B	1.27B
Net EPS - Diluted	0.57	0.55	0.48	0.54	0.54
Diluted EPS - Continuing Operations	0.57	0.55	0.48	0.54	0.54
Diluted Weighted Average Shares Outstanding	1.15B	1.18B	1.18B	1.16B	1.27B
Normalized Basic EPS	0.34	0.32	0.35	0.31	0.31
Normalized Diluted EPS	0.31	0.28	0.3	0.27	0.31
Dividend Per Share	0.1	0.1	0.1	0.1	0.1
Payout Ratio	49.44	32.42	37.39	29.42	27.37
Supplemental Items
EBITDA	1.86B	1.82B	1.85B	1.67B	1.77B
EBITA	1.18B	1.12B	1.11B	874M	999M
EBIT	1.14B	1.09B	1.08B	841M	967M
EBITDAR	1.91B	1.86B	1.91B	1.69B	1.8B
Total Revenues (As Reported)	12.2B	12.56B	13.94B	12.96B	12.07B
Effective Tax Rate - (Ratio)	13.46	13.55	10.57	11.85	12.03
Total Current Taxes	74.7M	123M	125M	174M	143M
Total Deferred Taxes	69.69M	17.64M	-27.54M	-56.98M	-11.45M
Normalized Net Income	360M	333M	358M	316M	396M
Interest Capitalized	34.26M	35.42M	38.56M	29.27M	-
Interest on Long-Term Debt	344M	94.43M	67.73M	-	-
Non-Cash Pension Expense	55.97K	-203K	421K	-32.79K	224K
Supplemental Operating Expense Items
Advertising Expense	7.59M	6.43M	7.1M	3.29M	4.64M
Marketing Expenses	-	1.31M	-	-	-
Selling and Marketing Expenses	3.6B	3.39B	3.48B	2.74B	2.15B
General and Administrative Expenses	698M	630M	722M	652M	744M
Research And Development Expense From Footnotes	429M	511M	603M	539M	586M
Net Rental Expense, Total	51.22M	45.13M	56.59M	28.89M	29.52M
Imputed Operating Lease Interest Expense	24.15M	13.54M	16.89M	8.32M	6.01M
Imputed Operating Lease Depreciation	27.07M	31.59M	39.69M	20.57M	23.51M
Maintenance & Repair Expenses, Total	-	89.96M	18.5M	19.71M	25M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	5.16B	3.72B	4.28B	6.15B	5.97B
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	5.16B	3.72B	4.28B	6.15B	5.97B
Accounts Receivable, Total	1.76B	2.6B	3.05B	2.66B	2.05B
Other Receivables	113M	108M	96.91M	92.85M	84.07M
Notes Receivable	-	-	-	-	-
Total Receivables	1.88B	2.71B	3.14B	2.75B	2.13B
Inventory	2.32B	3.28B	3.07B	2.44B	2.28B
Prepaid Expenses	83.46M	54.95M	40.21M	47.69M	61.63M
Other Current Assets, Total	234M	397M	345M	300M	207M
Total Current Assets	9.68B	10.16B	10.89B	11.68B	10.66B
Gross Property Plant And Equipment	10.92B	11.72B	12.52B	12.88B	13.05B
Accumulated Depreciation	-4.67B	-5.31B	-6.01B	-6.63B	-7.17B
Net Property Plant And Equipment	6.25B	6.41B	6.51B	6.25B	5.88B
Long-term Investments	192M	382M	371M	376M	1.43B
Goodwill	337M	292M	160M	160M	160M
Other Intangibles, Total	534M	525M	549M	517M	511M
Deferred Tax Assets Long-Term	122M	115M	189M	239M	153M
Deferred Charges Long-Term	187M	170M	145M	228M	332M
Other Long-Term Assets, Total	341M	195M	259M	179M	224M
Total Assets	17.64B	18.25B	19.07B	19.63B	19.35B
Liabilities
Accounts Payable, Total	1.37B	2.1B	1.54B	1.25B	1.37B
Accrued Expenses, Total	412M	440M	480M	1.67B	1.59B
Short-term Borrowings	2.06B	1.62B	2.01B	321M	45.05M
Current Portion of Long-Term Debt	730M	100M	540M	48.37M	-
Current Portion of Leases	185M	94.26M	40.13M	9.86M	10.6M
Current Income Taxes Payable	44.74M	23.84M	30.86M	37.94M	29.95M
Unearned Revenue Current, Total	299M	280M	1.4B	344M	245M
Other Current Liabilities	1.39B	1.53B	794M	510M	481M
Total Current Liabilities	6.49B	6.19B	6.84B	4.2B	3.78B
Long-Term Debt	1.65B	1.99B	1.55B	2.96B	1.03B
Long-Term Leases	44.51M	590K	43M	68.57M	57.97M
Unearned Revenue Non Current	169M	167M	140M	138M	123M
Pension & Other Post Retirement Benefits	1.01M	685K	842K	571K	518K
Deferred Tax Liability Non Current	81.44M	80.31M	126M	120M	22.15M
Other Non Current Liabilities	-	-	-	-	-
Total Liabilities	8.44B	8.43B	8.7B	7.48B	5.01B
Common Stock, Total	1.03B	1.03B	1.03B	1.17B	1.34B
Additional Paid In Capital	2.55B	2.55B	2.55B	3.59B	5.2B
Retained Earnings	3.76B	4.3B	4.76B	5.29B	5.84B
Comprehensive Income and Other	259M	259M	259M	259M	-1.09M
Total Common Equity	7.59B	8.13B	8.59B	10.31B	12.39B
Minority Interest	1.62B	1.69B	1.78B	1.85B	1.95B
Total Equity	9.2B	9.82B	10.37B	12.15B	14.34B
Total Liabilities And Equity	17.64B	18.25B	19.07B	19.63B	19.35B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.03B	1.03B	1.03B	1.17B	1.34B
ECS Total Common Shares Outstanding	1.03B	1.03B	1.03B	1.17B	1.34B
Book Value / Share	7.39	7.92	8.37	8.57	9.24
Tangible Book Value	6.72B	7.31B	7.88B	9.63B	11.72B
Tangible Book Value Per Share	6.54	7.12	7.68	7.99	8.74
Total Debt	4.67B	3.81B	4.18B	3.4B	1.14B
Net Debt	-493M	86.79M	-99.84M	-2.74B	-4.83B
Debt Equivalent of Unfunded Proj. Benefit Obligation	1.18M	823K	1.07M	807K	782K
Debt Equivalent Oper. Leases	410M	361M	453M	231M	236M
Minority Interest, Total (Incl. Fin. Div)	1.62B	1.69B	1.78B	1.85B	1.95B
Equity Method Investments, Total	173M	155M	145M	150M	156M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	704M	1.12B	1.06B	864M	708M
Inventories - Work In Process, Total	429M	500M	544M	556M	481M
Inventories - Finished Goods, Total	1.15B	1.64B	1.45B	1.02B	1.08B
Inventories - Others	87.15M	74.55M	86.38M	81.24M	85.04M
Buildings, Total	3.58B	3.71B	3.87B	3.94B	4.47B
Machinery, Total	6.17B	6.89B	7.92B	8.18B	8.37B
Full Time Employees	13.12K	12.95K	11.94K	11.49K	11.61K
Assets under Capital Lease - Gross	595M	533M	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-338M	-357M	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	55.78M	78.03M	101M	86.54M	68.16M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	656M	649M	568M	628M	692M
Depreciation & Amortization - CF	683M	696M	786M	804M	782M
Amortization of Goodwill and Intangible Assets - (CF)	37.42M	27.77M	29.31M	32.4M	31.32M
Depreciation & Amortization, Total	720M	723M	815M	837M	813M
Amortization of Deferred Charges, Total - (CF)	10.61M	13.28M	15.83M	11.98M	12.33M
(Gain) Loss From Sale Of Asset	14.08M	-23.92M	-203K	1.1M	31.85M
(Gain) Loss on Sale of Investments - (CF)	42.81M	21.81M	24.04M	-2.34M	-27.45M
Asset Writedown & Restructuring Costs	483K	47.53M	136M	3.43M	13.13M
Provision and Write-off of Bad Debts	6.76M	26.24M	24.87M	-17.59M	-18.05M
Other Operating Activities, Total	491M	405M	406M	394M	399M
Change In Accounts Receivable	-377M	-993M	-921M	463M	485M
Change In Inventories	-30.75M	-967M	195M	625M	163M
Change In Accounts Payable	-334M	1.65B	444M	-30.39M	-833M
Change In Deferred Taxes	69.69M	5.99M	-27.54M	-56.98M	-11.45M
Cash from Operations	1.27B	1.56B	1.68B	2.86B	1.72B
Capital Expenditure	-404M	-378M	-521M	-307M	-357M
Sale of Property, Plant, and Equipment	2.03M	26.02M	3.72M	5M	10.96M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-4.59M	-208M	1.14M	-	2.01M
Other Investing Activities, Total	73.1M	2.68M	8.31M	-	-1.02B
Cash from Investing	-333M	-557M	-508M	-302M	-1.36B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	2.79B	3.3B	3.69B	2.35B	45M
Total Debt Issued	2.79B	3.3B	3.69B	2.35B	45M
Short Term Debt Repaid, Total	-961K	-	-	-	-
Long-Term Debt Repaid, Total	-3.41B	-4.08B	-3.4B	-3.19B	-774M
Total Debt Repaid	-3.41B	-4.08B	-3.4B	-3.19B	-774M
Issuance of Common Stock	1.61B	-	-	1.19B	-
Common Dividends Paid	-325M	-210M	-212M	-185M	-189M
Common & Preferred Stock Dividends Paid	-325M	-210M	-212M	-185M	-189M
Other Financing Activities, Total	-805M	-981M	-733M	-594M	-175M
Cash from Financing	-141M	-1.97B	-662M	-435M	-1.09B
Foreign Exchange Rate Adjustments	9.68M	-44.35M	-40.08M	94.24M	32.07M
Net Change in Cash	806M	-1.01B	469M	2.21B	-704M
Supplemental Items
Cash Income Tax Paid (Refund)	885M	702M	696M	618M	752M
Levered Free Cash Flow	-332M	-101M	622M	1.63B	1.8B
Unlevered Free Cash Flow	-213M	-23.84M	691M	1.7B	1.83B
Change In Net Working Capital	1.25B	1.07B	292M	-634M	-760M
Net Debt Issued / Repaid	-622M	-774M	283M	-845M	-729M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.17	3.81	3.61	2.72	3.1
Return on Total Capital	5.64	4.98	4.78	3.49	3.9
Return On Equity %	10.52	9.46	8.13	7.7	7.28
Return on Common Equity	9.12	8.26	6.8	6.64	6.1
Margin Analysis
Gross Profit Margin %	49.44	46.12	43.28	37.57	37.55
SG&A Margin	35.53	32.24	30.26	26.35	24.07
EBITDA Margin %	15.23	14.48	13.28	12.85	14.63
EBITA Margin %	9.64	8.94	7.94	6.74	8.27
EBIT Margin %	9.33	8.72	7.73	6.49	8.01
Income From Continuing Operations Margin %	7.61	7.17	5.89	6.69	7.99
Net Income Margin %	5.38	5.17	4.08	4.84	5.73
Net Avail. For Common Margin %	5.38	5.17	4.08	4.84	5.73
Normalized Net Income Margin	2.95	2.65	2.57	2.44	3.28
Levered Free Cash Flow Margin	-2.72	-0.8	4.46	12.61	14.88
Unlevered Free Cash Flow Margin	-1.75	-0.19	4.95	13.12	15.18
Asset Turnover
Asset Turnover	0.72	0.7	0.75	0.67	0.62
Fixed Assets Turnover	1.98	1.98	2.16	2.03	1.99
Receivables Turnover (Average Receivables)	6.9	5.68	4.87	4.49	5.01
Inventory Turnover (Average Inventory)	2.66	2.42	2.49	2.94	3.19
Short Term Liquidity
Current Ratio	1.49	1.64	1.59	2.78	2.82
Quick Ratio	1.08	1.04	1.09	2.12	2.15
Operating Cash Flow to Current Liabilities	0.2	0.25	0.25	0.68	0.46
Days Sales Outstanding (Average Receivables)	52.92	64.39	74.96	81.25	72.87
Days Outstanding Inventory (Average Inventory)	137.09	151.46	146.61	124.33	114.28
Average Days Payable Outstanding	98.1	82.25	86.43	68.31	64.89
Cash Conversion Cycle (Average Days)