Balance Sheet Tianli International Holdings Limited

Equities

1773

KYG888461038

Miscellaneous Educational Service Providers

Market Closed - Hong Kong S.E. Other stock markets 04:08:15 2026-03-11 am EDT			5-day change	1st Jan Change
2.390 ^HKD	+3.02%		+5.29%	+0.42%

Feb. 23	Tianli education international chairman buys 2.7 million shares	RE
Feb. 22	Tianli International Chairman/CEO Continues to Boost Stake	MT

0.YEEcdyPuvY-rF0-rB0vRF6vB3gRO14SyX60elDK_E8g.MRAoA3aI-fWdYATjSROfZvTyunAIprPIOeJ94GjbcfFYAGwUZ7Hvyu8uHg

Published financial data: TIANLI INTERNATIONAL HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: August	2021	2022	2023	2024	2025
Revenues	518M	884M	2.3B	3.32B	3.59B
Total Revenues	518M	884M	2.3B	3.32B	3.59B
Cost of Goods Sold, Total	427M	591M	1.52B	2.2B	2.38B
Gross Profit	90.73M	294M	779M	1.12B	1.21B
Selling General & Admin Expenses, Total	155M	145M	276M	328M	327M
Provision for Bad Debts	-	-	-	-	1.86M
Other Operating Expenses	-	-	-	-	833K
Other Operating Expenses, Total	155M	145M	276M	328M	329M
Operating Income	-63.83M	149M	503M	791M	884M
Interest Expense, Total	-25.51M	-27.5M	-62.53M	-85.73M	-124M
Interest And Investment Income	3.12M	1.92M	3.42M	8.87M	2.92M
Net Interest Expenses	-22.39M	-25.58M	-59.11M	-76.87M	-121M
Income (Loss) On Equity Invest.	-196M	951K	-1.65M	13.71M	900K
Currency Exchange Gains (Loss)	-	3.85M	3.35M	-	830K
Other Non Operating Income (Expenses)	-4.84M	-9.34M	-4.74M	-15.2M	-30.07M
EBT, Excl. Unusual Items	-287M	118M	440M	713M	735M
Impairment of Goodwill	-	-	-	-	-8.84M
Gain (Loss) On Sale Of Investments	14.16M	6.78M	3.31M	766K	-
Gain (Loss) On Sale Of Assets	-	172K	223K	51K	-
Asset Writedown	-1.63B	-	-	-	100M
Other Unusual Items	-	-	-	27.05M	15.82M
EBT, Incl. Unusual Items	-1.9B	125M	444M	740M	842M
Income Tax Expense	-237M	29.19M	113M	184M	193M
Earnings From Continuing Operations	-1.66B	96.16M	331M	556M	648M
Earnings Of Discontinued Operations	-336M	-	-	-	-
Net Income to Company	-2B	96.16M	331M	556M	648M
Minority Interest	-1.96M	379K	2.76M	19.79M	16.13M
Net Income - (IS)	-2B	96.54M	334M	576M	664M
Net Income to Common Incl Extra Items	-2B	96.54M	334M	576M	664M
Net Income to Common Excl. Extra Items	-1.67B	96.54M	334M	576M	664M
Per Share Items
Net EPS - Basic	-0.94	0.05	0.16	0.28	0.32
Basic EPS - Continuing Operations	-0.78	0.05	0.16	0.28	0.32
Basic Weighted Average Shares Outstanding	2.13B	2.11B	2.1B	2.09B	2.06B
Net EPS - Diluted	-0.94	0.05	0.16	0.27	0.32
Diluted EPS - Continuing Operations	-0.78	0.05	0.16	0.27	0.32
Diluted Weighted Average Shares Outstanding	2.13B	2.12B	2.1B	2.11B	2.08B
Normalized Basic EPS	-0.09	0.04	0.13	0.22	0.23
Normalized Diluted EPS	-0.09	0.04	0.13	0.22	0.23
Dividend Per Share	0.06	0.02	0.05	0.04	0.1
Payout Ratio	-8.4	85.03	30.45	23.96	31.28
Supplemental Items
EBITDA	3.09M	229M	636M	966M	1.08B
EBITA	-63.83M	149M	505M	796M	888M
EBIT	-63.83M	149M	503M	791M	884M
EBITDAR	3.69M	230M	638M	971M	1.08B
Effective Tax Rate - (Ratio)	12.47	23.29	25.42	24.89	22.99
Current Domestic Taxes	-237M	27.9M	120M	172M	155M
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	-237M	27.9M	120M	172M	155M
Deferred Domestic Taxes	-	1.29M	-7.04M	12.67M	38.2M
Total Deferred Taxes	-	1.29M	-7.04M	12.67M	38.2M
Normalized Net Income	-181M	74.38M	278M	465M	475M
Interest Capitalized	30.92M	51.14M	32.61M	32.96M	-
Interest on Long-Term Debt	33.68M	61.74M	45.17M	54.81M	22.3M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	7.15M	12.2M	36.23M	70.53M	72.49M
General and Administrative Expenses	146M	132M	241M	257M	254M
Research And Development Expense From Footnotes	10.01M	14.24M	10.63M	958K	16.2M
Net Rental Expense, Total	1.62M	1.32M	1.52M	4.12M	7.59M
Imputed Operating Lease Interest Expense	-	608K	714K	1.76M	2.86M
Imputed Operating Lease Depreciation	-	710K	804K	2.36M	4.73M
Stock-Based Comp., Other (Total)	11.27M	5.78M	27.8M	41.37M	25.55M
Total Stock-Based Compensation	11.27M	5.78M	27.8M	41.37M	25.55M

Fiscal Period: August	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.27B	930M	1.5B	1.36B	965M
Short Term Investments	-	-	-	-	9.78M
Trading Asset Securities, Total	205M	100M	100M	-	-
Total Cash And Short Term Investments	1.48B	1.03B	1.6B	1.36B	975M
Accounts Receivable, Total	3.56M	10.97M	17.65M	18.36M	41.84M
Other Receivables	1.1B	1.09B	657M	697M	835M
Notes Receivable	7.9M	14.27M	14.26M	15.39M	-
Total Receivables	1.11B	1.12B	689M	731M	877M
Inventory	3.8M	18.82M	27.28M	26.46M	20.38M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	23.56M	41M	52.64M	103M	148M
Total Current Assets	2.62B	2.21B	2.37B	2.22B	2.02B
Gross Property Plant And Equipment	5.77B	6.63B	7.96B	9.05B	8.97B
Accumulated Depreciation	-1.25B	-1.33B	-1.46B	-1.63B	-1.72B
Net Property Plant And Equipment	4.52B	5.3B	6.5B	7.42B	7.25B
Long-term Investments	232M	233M	231M	12.82M	13.72M
Goodwill	7.57M	7.57M	16.41M	106M	97.62M
Other Intangibles, Total	7.66M	24.09M	34.49M	38.42M	236M
Deferred Tax Assets Long-Term	271M	270M	275M	337M	301M
Other Long-Term Assets, Total	142M	95.39M	124M	62.34M	49.47M
Total Assets	7.79B	8.13B	9.55B	10.19B	9.97B
Liabilities
Accounts Payable, Total	11.42M	46.57M	47.07M	56.63M	80.78M
Accrued Expenses, Total	64.03M	55.88M	194M	210M	76.42M
Short-term Borrowings	322M	50M	260M	190M	249M
Current Portion of Long-Term Debt	169M	190M	294M	551M	506M
Current Portion of Leases	13.66M	11.61M	20.22M	20.65M	53.14M
Current Income Taxes Payable	116M	121M	146M	186M	214M
Unearned Revenue Current, Total	536M	1.03B	1.55B	1.62B	1.65B
Other Current Liabilities	3.55B	2.31B	2.06B	1.83B	1.32B
Total Current Liabilities	4.78B	3.81B	4.57B	4.66B	4.15B
Long-Term Debt	742M	891M	1.12B	1.31B	1.62B
Long-Term Leases	157M	179M	219M	459M	308M
Unearned Revenue Non Current	327M	369M	343M	239M	177M
Deferred Tax Liability Non Current	-	-	54.42M	64.94M	67.6M
Other Non Current Liabilities	-	999M	1.15B	988M	682M
Total Liabilities	6.01B	6.25B	7.46B	7.72B	7B
Common Stock, Total	184M	183M	183M	180M	179M
Additional Paid In Capital	1.89B	1.88B	1.78B	1.54B	1.34B
Retained Earnings	-246M	-150M	184M	765M	1.43B
Treasury Stock	-	-	-31.66M	-1.33M	-8.97M
Comprehensive Income and Other	-59.79M	-64.19M	-53.8M	-9.1M	39.31M
Total Common Equity	1.76B	1.85B	2.07B	2.47B	2.98B
Minority Interest	23.89M	27.12M	30M	262K	-14.46M
Total Equity	1.79B	1.88B	2.1B	2.47B	2.96B
Total Liabilities And Equity	7.79B	8.13B	9.55B	10.19B	9.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.17B	2.15B	2.14B	2.11B	2.06B
ECS Total Common Shares Outstanding	2.17B	2.15B	2.14B	2.11B	2.06B
Book Value / Share	0.81	0.86	0.96	1.17	1.45
Tangible Book Value	1.75B	1.82B	2.01B	2.33B	2.64B
Tangible Book Value Per Share	0.81	0.85	0.94	1.1	1.29
Total Debt	1.4B	1.32B	1.91B	2.53B	2.74B
Net Debt	-73.6M	292M	310M	1.17B	1.77B
Debt Equivalent Oper. Leases	-	10.54M	12.14M	32.98M	60.73M
Minority Interest, Total (Incl. Fin. Div)	23.89M	27.12M	30M	262K	-14.46M
Equity Method Investments, Total	232M	233M	231M	12.82M	13.72M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	3.8M	5.16M	6.08M	5.23M	5.2M
Inventories - Finished Goods, Total	-	13.66M	21.2M	21.22M	15.18M
Buildings, Total	3.87B	4.59B	5.39B	5.99B	6.07B
Machinery, Total	169M	268M	317M	358M	384M
Full Time Employees	8.83K	3.02K	5.03K	5.67K	6.1K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	1.86M

Fiscal Period: August	2021	2022	2023	2024	2025
Net Income	-2B	96.54M	334M	576M	664M
Depreciation & Amortization - CF	99.55M	131M	198M	260M	284M
Amortization of Goodwill and Intangible Assets - (CF)	-	436K	2.08M	4.76M	4.01M
Depreciation & Amortization, Total	99.55M	132M	200M	265M	288M
Amortization of Deferred Charges, Total - (CF)	794K	1.27M	2.55M	5.16M	3.92M
(Gain) Loss From Sale Of Asset	31.5K	510K	1.25M	-51K	1.14M
(Gain) Loss on Sale of Investments - (CF)	-14.16M	-6.78M	-3.31M	54K	2.7M
Asset Writedown & Restructuring Costs	1.63B	-	-	-	-91.16M
(Income) Loss On Equity Investments - (CF)	196M	-951K	1.65M	-13.71M	-900K
Stock-Based Compensation (CF)	11.27M	5.78M	27.8M	41.37M	25.55M
Net Cash From Discontinued Operations	1.63B	-	-	-	-
Other Operating Activities, Total	77.02M	-66.92M	-56.28M	-53.4M	-5.02M
Change In Accounts Receivable	-4.49M	-7.4M	-6.37M	-914K	-25.07M
Change In Inventories	1.98M	-14.98M	-8.4M	1.02M	6.07M
Change In Accounts Payable	-20.56M	33.24M	418K	8.97M	27.84M
Change in Unearned Revenues	673M	598M	357M	-25.68M	126M
Change in Other Net Operating Assets	113M	-33.63M	126M	23.8M	-171M
Cash from Operations	2.4B	737M	976M	827M	853M
Capital Expenditure	-2.03B	-777M	-575M	-343M	-198M
Sale of Property, Plant, and Equipment	452K	222K	1.09M	592K	360K
Cash Acquisitions	-	-	-31.04M	-68.52M	-36.43M
Divestitures	-246M	-2.33M	-	-	-
Sale (Purchase) of Real Estate properties	-688M	-103M	-18.7M	-62.65M	-200M
Sale (Purchase) of Intangible assets	-5.2M	-17.87M	-5.68M	-1.53M	-5.11M
Investment in Marketable and Equity Securities, Total	-191M	102M	-56.64M	157M	-410K
Other Investing Activities, Total	-24.09M	1.12M	251M	-26.71M	-91.89M
Cash from Investing	-3.19B	-796M	-435M	-344M	-532M
Short Term Debt Issued, Total	2.1B	1.67B	-	-	-
Long-Term Debt Issued, Total	370M	398M	2.28B	2.12B	1.52B
Total Debt Issued	3.7B	2.07B	2.28B	2.12B	1.52B
Short Term Debt Repaid, Total	-953M	-1.69B	-	-	-
Long-Term Debt Repaid, Total	-168M	-503M	-2.09B	-2.37B	-1.21B
Total Debt Repaid	-1.68B	-2.19B	-2.09B	-2.37B	-1.21B
Issuance of Common Stock	25.7M	-	-	-	7.46M
Repurchase of Common Stock	-71.02M	-13.01M	-32.74M	-72.27M	-38.79M
Common Dividends Paid	-168M	-82.09M	-102M	-138M	-208M
Common & Preferred Stock Dividends Paid	-168M	-82.09M	-102M	-138M	-208M
Other Financing Activities, Total	-1.44B	-67.63M	-90.88M	-101M	-768M
Cash from Financing	364M	-291M	-30.84M	-560M	-705M
Foreign Exchange Rate Adjustments	-8.19M	-2.68M	2.87M	-6.17M	608K
Net Change in Cash	-435M	-353M	512M	-83.35M	-384M
Supplemental Items
Cash Interest Paid	53.05M	74.66M	93.58M	104M	111M
Cash Income Tax Paid (Refund)	2.09M	23.07M	94.35M	132M	127M
Levered Free Cash Flow	-	-1.33B	764M	217M	-153M
Unlevered Free Cash Flow	-	-1.31B	803M	270M	-75.66M
Change In Net Working Capital	-	750M	-840M	191M	742M
Net Debt Issued / Repaid	2.02B	-128M	194M	-249M	302M

Fiscal Period: August	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	1.17	3.55	5.01	5.48
Return on Total Capital	-	2.9	8.71	10.96	10.32
Return On Equity %	-	5.24	16.66	24.32	23.85
Return on Common Equity	-	5.34	17.04	25.35	24.38
Margin Analysis
Gross Profit Margin %	17.52	33.19	33.83	33.69	33.81
SG&A Margin	29.85	16.4	12	9.88	9.1
EBITDA Margin %	0.6	25.89	27.63	29.1	29.97
EBITA Margin %	-12.33	16.84	21.92	23.96	24.75
EBIT Margin %	-12.33	16.79	21.83	23.82	24.64
Income From Continuing Operations Margin %	-321.31	10.87	14.38	16.75	18.06
Net Income Margin %	-386.57	10.92	14.5	17.34	18.51
Net Avail. For Common Margin %	-321.69	10.92	14.5	17.34	18.51
Normalized Net Income Margin	-35.02	8.41	12.07	14.01	13.24
Levered Free Cash Flow Margin	-	-150.47	33.18	6.52	-4.27
Unlevered Free Cash Flow Margin	-	-148.52	34.88	8.14	-2.11
Asset Turnover
Asset Turnover	-	0.11	0.26	0.34	0.36
Fixed Assets Turnover	-	0.18	0.39	0.48	0.49
Receivables Turnover (Average Receivables)	-	121.71	160.89	184.41	119.22
Inventory Turnover (Average Inventory)	-	52.25	66.1	81.95	101.42
Short Term Liquidity
Current Ratio	0.55	0.58	0.52	0.48	0.49
Quick Ratio	0.54	0.56	0.5	0.45	0.45
Operating Cash Flow to Current Liabilities	0.5	0.19	0.21	0.18	0.21
Days Sales Outstanding (Average Receivables)	-	3	2.27	1.98	3.06
Days Outstanding Inventory (Average Inventory)	-	6.99	5.52	4.47	3.6
Average Days Payable Outstanding	-	17.47	11.15	8.62	10.58
Cash Conversion Cycle (Average Days)	-	-7.48	-3.36	-2.17	-3.92
Long Term Solvency
Total Debt/Equity	78.57	70.38	91.25	102.43	92.48
Total Debt / Total Capital	44	41.31	47.71	50.6	48.05
LT Debt/Equity	50.32	56.96	63.85	71.63	65.19
Long-Term Debt / Total Capital	28.18	33.43	33.38	35.39	33.87
Total Liabilities / Total Assets	77.06	76.89	78.06	75.74	70.27
EBIT / Interest Expense	-2.5	5.4	8.04	9.23	7.12
EBITDA / Interest Expense	1.4	10.18	11.23	12.31	9.45
(EBITDA - Capex) / Interest Expense	-78.26	-18.07	2.03	8.31	7.85
Total Debt / EBITDA	39.33	4.72	2.72	2.4	2.34
Net Debt / EBITDA	-2.06	1.04	0.44	1.11	1.51
Total Debt / (EBITDA - Capex)	-0.7	-2.66	15.06	3.55	2.81
Net Debt / (EBITDA - Capex)	0.04	-0.59	2.44	1.65	1.81
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	70.8	160.36	44.23	8.07
Gross Profit, 1 Yr. Growth %	-	223.52	165.33	43.67	8.45
EBITDA, 1 Yr. Growth %	-	7.3K	177.88	51.91	11.28
EBITA, 1 Yr. Growth %	-	-333.37	238.78	57.68	11.62
EBIT, 1 Yr. Growth %	-	-332.68	238.38	57.38	11.79
Earnings From Cont. Operations, 1 Yr. Growth %	-	-105.78	244.29	66.26	16.54
Net Income, 1 Yr. Growth %	-	-104.82	245.8	70.89	15.33
Normalized Net Income, 1 Yr. Growth %	-	-141.02	273.78	68.39	2.17
Diluted EPS Before Extra, 1 Yr. Growth %	-	-105.83	248.64	69.66	17
Accounts Receivable, 1 Yr. Growth %	-	207.66	60.96	4.01	127.89
Inventory, 1 Yr. Growth %	-	395.58	44.99	-3.03	-22.96
Net Property, Plant and Equip., 1 Yr. Growth %	-	17.22	22.74	14.13	-2.27
Total Assets, 1 Yr. Growth %	-	4.33	17.47	6.66	-2.21
Tangible Book Value, 1 Yr. Growth %	-	4.08	10.68	15.25	13.59
Common Equity, 1 Yr. Growth %	-	4.98	11.54	19.42	20.41
Cash From Operations, 1 Yr. Growth %	-	-69.25	32.47	-15.23	3.08
Capital Expenditures, 1 Yr. Growth %	-	-61.77	-25.94	-40.45	-42.08
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-157.41	-71.64	-170.75
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-161.14	-66.35	-128
Dividend Per Share, 1 Yr. Growth %	-	-59.7	108.3	-12.58	132.13
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	110.88	93.78	24.85
Gross Profit, 2 Yr. CAGR %	-	-	192.98	95.24	24.82
EBITDA, 2 Yr. CAGR %	-	-	1.33K	105.46	30.02
EBITA, 2 Yr. CAGR %	-	-	181.18	131.12	32.67
EBIT, 2 Yr. CAGR %	-	-	180.6	130.77	32.64
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	-55.39	140.49	39.2
Net Income, 2 Yr. CAGR %	-	-	-59.16	144.25	40.39
Normalized Net Income, 2 Yr. CAGR %	-	-	23.83	150.08	31.17
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-54.93	144.37	40.89
Accounts Receivable, 2 Yr. CAGR %	-	-	122.53	29.39	53.96
Inventory, 2 Yr. CAGR %	-	-	168.06	18.58	-13.57
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	19.95	18.36	5.61
Total Assets, 2 Yr. CAGR %	-	-	10.71	11.97	2.13
Tangible Book Value, 2 Yr. CAGR %	-	-	7.33	13.09	14.42
Common Equity, 2 Yr. CAGR %	-	-	8.21	15.56	19.91
Cash From Operations, 2 Yr. CAGR %	-	-	-36.17	5.97	-6.52
Capital Expenditures, 2 Yr. CAGR %	-	-	-46.79	-33.59	-41.27
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-59.65	-55.21
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-54.64	-69.3
Dividend Per Share, 2 Yr. CAGR %	-	-	-8.37	34.94	42.46
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	85.8	59.51
Gross Profit, 3 Yr. CAGR %	-	-	-	131.04	60.5
EBITDA, 3 Yr. CAGR %	-	-	-	578.59	67.48
EBITA, 3 Yr. CAGR %	-	-	-	131.87	81.33
EBIT, 3 Yr. CAGR %	-	-	-	131.41	81.24
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	-30.6	88.9
Net Income, 3 Yr. CAGR %	-	-	-	-33.98	90.2
Normalized Net Income, 3 Yr. CAGR %	-	-	-	36.9	85.56
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-29.66	91.17
Accounts Receivable, 3 Yr. CAGR %	-	-	-	72.7	56.26
Inventory, 3 Yr. CAGR %	-	-	-	91	2.7
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	17.98	11.04
Total Assets, 3 Yr. CAGR %	-	-	-	9.36	7.03
Tangible Book Value, 3 Yr. CAGR %	-	-	-	10	13.26
Common Equity, 3 Yr. CAGR %	-	-	-	11.92	17.15
Cash From Operations, 3 Yr. CAGR %	-	-	-	-29.84	5
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-44.75	-36.55
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-51.35
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-61.38
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-9.8	61.69
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	-
Gross Profit, 5 Yr. CAGR %	-	-	-	-	-
EBITDA, 5 Yr. CAGR %	-	-	-	-	-
EBITA, 5 Yr. CAGR %	-	-	-	-	-
EBIT, 5 Yr. CAGR %	-	-	-	-	-
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	-
Net Income, 5 Yr. CAGR %	-	-	-	-	-
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	-
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	-
Inventory, 5 Yr. CAGR %	-	-	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	-
Total Assets, 5 Yr. CAGR %	-	-	-	-	-
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	-
Common Equity, 5 Yr. CAGR %	-	-	-	-	-
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	-
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-