Income Statement TPV Technology Co., Ltd.

Equities

000727

CNE0000002J9

Electronic Equipment & Parts

End-of-day quote Shenzhen S.E. Other stock markets 2024-09-06			5-day change	1st Jan Change
1.920 ^CNY	-2.04%		-3.52%	-28.36%

Aug. 30	TPV Technology Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI
Apr. 29	TPV Technology Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

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Published financial data: TPV TECHNOLOGY CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	5.22B	68.23B	70.29B	61.54B	54.31B
Other Revenues, Total	51.41M	325M	324M	339M	288M
Total Revenues	5.27B	68.56B	70.61B	61.88B	54.6B
Cost of Goods Sold, Total	7.83B	59.87B	63.94B	56.26B	47.77B
Gross Profit	-2.56B	8.68B	6.67B	5.62B	6.83B
Selling General & Admin Expenses, Total	435M	4.9B	3.56B	3.34B	3.85B
Provision for Bad Debts	2.9M	192M	-17.91M	4.54M	-516K
R&D Expenses	210M	1.95B	1.32B	1.24B	1.32B
Other Operating Expenses	64.53M	-40.05M	153M	129M	146M
Other Operating Expenses, Total	713M	7.01B	5.01B	4.71B	5.32B
Operating Income	-3.28B	1.68B	1.66B	913M	1.51B
Interest Expense, Total	-675M	-844M	-352M	-392M	-435M
Interest And Investment Income	41.36M	1.32B	346M	179M	105M
Net Interest Expenses	-634M	476M	-6M	-213M	-331M
Currency Exchange Gains (Loss)	-127M	6.22M	-333M	-11.68M	-240M
Other Non Operating Income (Expenses)	-2.34M	-40.47M	-14.25M	-2.53M	-25.63M
EBT, Excl. Unusual Items	-4.04B	2.12B	1.31B	686M	911M
Gain (Loss) On Sale Of Investments	-90.64M	-442M	126M	-132M	-22.62M
Gain (Loss) On Sale Of Assets	-438K	-1.78M	137M	1.33M	616K
Asset Writedown	-5.61B	-49.49M	-	-	-
Other Unusual Items	57.35M	34.51M	132M	27.94M	71.93M
EBT, Incl. Unusual Items	-9.68B	1.66B	1.7B	583M	961M
Income Tax Expense	1.56M	641M	387M	357M	331M
Earnings From Continuing Operations	-9.68B	1.02B	1.32B	227M	630M
Net Income to Company	-9.68B	1.02B	1.32B	227M	630M
Minority Interest	4.04B	-272M	-784M	-140M	-352M
Net Income - (IS)	-5.64B	746M	532M	86.69M	278M
Net Income to Common Incl Extra Items	-5.64B	746M	532M	86.69M	278M
Net Income to Common Excl. Extra Items	-5.64B	746M	532M	86.69M	278M
Per Share Items
Net EPS - Basic	-1.25	0.16	0.12	0.02	0.06
Basic EPS - Continuing Operations	-1.25	0.16	0.12	0.02	0.06
Basic Weighted Average Shares Outstanding	4.53B	4.53B	4.53B	4.53B	4.53B
Net EPS - Diluted	-1.25	0.16	0.12	0.02	0.06
Diluted EPS - Continuing Operations	-1.25	0.16	0.12	0.02	0.06
Diluted Weighted Average Shares Outstanding	4.53B	4.53B	4.53B	4.53B	4.53B
Normalized Basic EPS	0.33	0.23	0.01	0.06	0.05
Normalized Diluted EPS	0.33	0.23	0.01	0.06	0.05
Payout Ratio	-8.66	120.68	24.17	266.1	97.73
Supplemental Items
EBITDA	-955M	4.51B	2.9B	2.21B	2.8B
EBITA	-3.14B	2.2B	2.11B	1.35B	1.97B
EBIT	-3.28B	1.68B	1.66B	913M	1.51B
EBITDAR	-948M	4.55B	2.94B	2.24B	2.85B
Total Revenues (As Reported)	5.27B	68.56B	-	-	54.6B
Effective Tax Rate - (Ratio)	-0.02	38.64	22.71	61.15	34.44
Total Current Taxes	970K	461M	441M	490M	393M
Total Deferred Taxes	588K	180M	-53.86M	-133M	-61.78M
Normalized Net Income	1.51B	1.05B	33.94M	289M	217M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	-	14.86M	17.04M	18.99M	25.25M
Non-Cash Pension Expense	-	16.72M	-	2.34M	2.79M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	801M	-
Marketing Expenses	-	-	48.13M	59.78M	64.73M
Selling and Marketing Expenses	118M	3.43B	2.49B	2.31B	2.68B
General and Administrative Expenses	317M	1.45B	1.06B	1.02B	1.15B
Research And Development Expense From Footnotes	223M	2.04B	1.32B	1.24B	1.32B
Net Rental Expense, Total	6.52M	33.52M	38.62M	30.96M	54.14M
Imputed Operating Lease Interest Expense	3.11M	28.04M	19.85M	15.69M	47.12M
Imputed Operating Lease Depreciation	3.41M	5.47M	18.77M	15.27M	7.02M
Maintenance & Repair Expenses, Total	-	15.47M	10.85M	12.7M	14.57M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	856M	5.62B	3.53B	4.32B	4.13B
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	-	-	-	236M	219M
Total Cash And Short Term Investments	856M	5.62B	3.53B	4.56B	4.35B
Accounts Receivable, Total	751M	10.99B	11.97B	9.45B	9.64B
Other Receivables	13.08M	2.41B	936M	565M	622M
Total Receivables	764M	13.4B	12.91B	10.01B	10.26B
Inventory	1.38B	8.54B	13.5B	9.23B	8.18B
Other Current Assets, Total	110M	1.28B	1.73B	1.32B	1.2B
Total Current Assets	3.11B	28.84B	31.67B	25.12B	24B
Gross Property Plant And Equipment	22.85B	8.86B	10.29B	11.55B	11.87B
Accumulated Depreciation	-7.3B	-5.72B	-6B	-7.01B	-7.41B
Net Property Plant And Equipment	15.54B	3.14B	4.29B	4.54B	4.46B
Long-term Investments	1.44B	367M	529M	696M	792M
Goodwill	-	31.96M	31.16M	33.98M	34.68M
Other Intangibles, Total	1.13B	1.12B	2.29B	1.99B	1.62B
Accounts Receivable Long-Term	-	-	-	-	2.81M
Deferred Tax Assets Long-Term	110M	358M	340M	398M	373M
Deferred Charges Long-Term	70.11M	209M	225M	274M	286M
Other Long-Term Assets, Total	59.63M	1.96B	2.02B	2.14B	2.16B
Total Assets	21.47B	36.03B	41.39B	35.2B	33.73B
Liabilities
Accounts Payable, Total	1.8B	14.01B	14.52B	9.66B	9.76B
Accrued Expenses, Total	85.1M	2.98B	2.88B	2.17B	2.36B
Short-term Borrowings	859M	1.47B	6.07B	3.75B	2.12B
Current Portion of Long-Term Debt	4.53B	2.41M	977M	-	-
Current Portion of Leases	-	91.48M	81.88M	98.67M	102M
Current Income Taxes Payable	1.29M	370M	277M	296M	217M
Unearned Revenue Current, Total	79.13M	409M	273M	371M	293M
Other Current Liabilities	1.1B	5.39B	4.4B	6.24B	6.02B
Total Current Liabilities	8.46B	24.73B	29.47B	22.59B	20.87B
Long-Term Debt	3.5B	1.65B	255M	740M	785M
Long-Term Leases	2.06B	158M	193M	201M	203M
Unearned Revenue Non Current	206M	8.83M	9M	5.92M	13.96M
Deferred Tax Liability Non Current	184M	552M	483M	457M	375M
Other Non Current Liabilities	13.27M	2.91B	3.68B	2.6B	2.27B
Total Liabilities	14.42B	30.01B	34.09B	26.6B	24.52B
Common Stock, Total	4.53B	4.53B	4.53B	4.53B	4.53B
Additional Paid In Capital	6.57B	4.09B	4.15B	4.48B	4.61B
Retained Earnings	-6.96B	-6.39B	-5.91B	-6.14B	-6.01B
Comprehensive Income and Other	-	-714M	-751M	-223M	-211M
Total Common Equity	4.15B	1.51B	2.02B	2.65B	2.92B
Minority Interest	2.9B	4.51B	5.28B	5.94B	6.28B
Total Equity	7.05B	6.02B	7.3B	8.6B	9.2B
Total Liabilities And Equity	21.47B	36.03B	41.39B	35.2B	33.73B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.53B	4.53B	4.53B	4.53B	4.53B
ECS Total Common Shares Outstanding	4.53B	4.53B	4.53B	4.53B	4.53B
Book Value / Share	0.92	0.33	0.45	0.59	0.64
Tangible Book Value	3.01B	355M	-300M	630M	1.26B
Tangible Book Value Per Share	0.67	0.08	-0.07	0.14	0.28
Total Debt	10.95B	3.38B	7.58B	4.79B	3.21B
Net Debt	10.09B	-2.24B	4.05B	235M	-1.14B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-	104M	83.73M	48.68M	63.32M
Debt Equivalent Oper. Leases	52.14M	268M	309M	248M	433M
Minority Interest, Total (Incl. Fin. Div)	2.9B	4.51B	5.28B	5.94B	6.28B
Equity Method Investments, Total	1.44B	352M	308M	350M	374M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	421M	2.73B	4.02B	2.56B	2.11B
Inventories - Work In Process, Total	314M	1.57B	2.78B	1.33B	1.53B
Inventories - Finished Goods, Total	1.12B	4.52B	7.2B	5.91B	4.83B
Inventories - Others	44.06M	40.35M	60.97M	62.99M	45.8M
Buildings, Total	5.94B	2.51B	3.63B	3.98B	4.1B
Machinery, Total	11.25B	5.68B	6.08B	6.88B	7.02B
Full Time Employees	4.7K	22.69K	22.73K	20.55K	19.99K
Assets under Capital Lease - Gross	5.56B	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-2.15B	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	16.88M	863M	797M	698M	551M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-5.64B	746M	532M	86.69M	278M
Depreciation & Amortization - CF	2.19B	2.4B	894M	977M	940M
Amortization of Goodwill and Intangible Assets - (CF)	131M	524M	449M	434M	464M
Depreciation & Amortization, Total	2.32B	2.93B	1.34B	1.41B	1.4B
Amortization of Deferred Charges, Total - (CF)	28.72M	142M	75.48M	79.56M	107M
(Gain) Loss From Sale Of Asset	438K	1.78M	-137M	-758K	-2.98M
(Gain) Loss on Sale of Investments - (CF)	90.64M	-585M	-33.39M	-147M	-286M
Asset Writedown & Restructuring Costs	6.59B	123M	499M	572M	13.68M
Provision and Write-off of Bad Debts	-	-	-18.32M	780K	-516K
Other Operating Activities, Total	-3.36B	838M	1.02B	765M	1.02B
Change In Accounts Receivable	942M	358M	-1.75B	4.19B	-387M
Change In Inventories	400M	1.1B	-5.63B	5.18B	1.14B
Change In Accounts Payable	-738M	119M	913M	-7.15B	-234M
Change In Deferred Taxes	-564K	84.47M	-53.86M	-133M	-61.78M
Change in Other Net Operating Assets	3.18M	25.62M	-836M	-294M	-202M
Cash from Operations	637M	5.88B	-4.07B	4.56B	2.79B
Capital Expenditure	-565M	-1.71B	-1.94B	-1.54B	-832M
Sale of Property, Plant, and Equipment	13.2M	52.95M	89.1M	87.45M	8.74M
Cash Acquisitions	-	-3.85B	-	-	-
Divestitures	-	963M	1.59B	-	-
Investment in Marketable and Equity Securities, Total	-1.53M	1.48B	-211M	-260M	-402M
Other Investing Activities, Total	19.92M	23.61M	70.02M	18.96M	244M
Cash from Investing	-533M	-3.03B	-398M	-1.7B	-982M
Short Term Debt Issued, Total	-	-	40M	-	-
Long-Term Debt Issued, Total	4.07B	48.89B	43.89B	44.47B	33.54B
Total Debt Issued	4.07B	48.89B	43.93B	44.47B	33.54B
Long-Term Debt Repaid, Total	-4.21B	-52.37B	-39.58B	-46.43B	-35.3B
Total Debt Repaid	-4.21B	-52.37B	-39.58B	-46.43B	-35.3B
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-489M	-900M	-129M	-231M	-271M
Common & Preferred Stock Dividends Paid	-489M	-900M	-129M	-231M	-271M
Other Financing Activities, Total	-950M	2.52B	-1.6B	-	-
Cash from Financing	-1.58B	-1.86B	2.62B	-2.19B	-2.03B
Foreign Exchange Rate Adjustments	2.22M	-440M	-186M	114M	36.78M
Net Change in Cash	-1.47B	546M	-2.04B	792M	-184M
Supplemental Items
Cash Interest Paid	17M	-	-	-	-
Cash Income Tax Paid (Refund)	-222M	3.53B	1.68B	1.97B	1.5B
Levered Free Cash Flow	656M	560M	-5.44B	4.25B	2.17B
Unlevered Free Cash Flow	1.08B	1.09B	-5.22B	4.49B	2.45B
Change In Net Working Capital	-1.34B	1.32B	5.74B	-3.98B	-825M
Net Debt Issued / Repaid	-141M	-3.48B	4.35B	-1.96B	-1.75B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-7.63	2.31	2.68	1.49	2.73
Return on Total Capital	-8.81	5.48	8.55	4.04	7.3
Return On Equity %	-81.41	9.22	19.75	2.85	7.08
Return on Common Equity	-80.91	15.05	30.12	3.71	9.96
Margin Analysis
Gross Profit Margin %	-48.67	12.67	9.45	9.08	12.5
SG&A Margin	8.26	7.15	5.04	5.39	7.05
EBITDA Margin %	-18.13	6.58	4.11	3.57	5.12
EBITA Margin %	-59.71	3.21	2.99	2.18	3.61
EBIT Margin %	-62.2	2.44	2.35	1.48	2.76
Income From Continuing Operations Margin %	-183.8	1.48	1.86	0.37	1.15
Net Income Margin %	-107.1	1.09	0.75	0.14	0.51
Net Avail. For Common Margin %	-107.1	1.09	0.75	0.14	0.51
Normalized Net Income Margin	28.76	1.53	0.05	0.47	0.4
Levered Free Cash Flow Margin	12.45	0.82