Balance Sheet XCMG Construction Machinery Co., Ltd.

Equities

000425

CNE000000FH0

Heavy Machinery & Vehicles

End-of-day quote Shenzhen S.E. Other stock markets 2025-01-23			5-day change	1st Jan Change
7.670 ^CNY	-0.13%		+1.19%	-3.28%

Jan. 02	Tranche Update on XCMG Construction Machinery Co., Ltd.'s Equity Buyback Plan announced on July 19, 2024.	CI
Dec. 27	Xcmg Launches Used Equipment Certification to Drive Sustainable Development in Construction Machinery	CI

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Published financial data: XCMG CONSTRUCTION MACHINERY CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	57.15B	69.14B	79.36B	90.28B	88.28B
Other Revenues, Total	2.03B	4.83B	4.96B	3.53B	4.57B
Total Revenues	59.18B	73.97B	84.33B	93.82B	92.85B
Cost of Goods Sold, Total	48.93B	61.7B	70.99B	75.31B	72.79B
Gross Profit	10.24B	12.27B	13.34B	18.51B	20.06B
Selling General & Admin Expenses, Total	3.74B	4.12B	5.15B	9.05B	9.34B
Provision for Bad Debts	1.1B	1.51B	157M	440M	926M
R&D Expenses	2.13B	2.42B	2.67B	4.08B	4B
Other Operating Expenses	-112M	-244M	-31.61M	275M	380M
Other Operating Expenses, Total	6.86B	7.81B	7.95B	13.85B	14.64B
Operating Income	3.39B	4.47B	5.39B	4.66B	5.42B
Interest Expense, Total	-346M	-603M	-610M	-1.53B	-1.65B
Interest And Investment Income	1.03B	1.39B	1.5B	1.11B	635M
Net Interest Expenses	687M	789M	892M	-426M	-1.02B
Currency Exchange Gains (Loss)	29.09M	-774M	-223M	904M	358M
Other Non Operating Income (Expenses)	-51.05M	-142M	-116M	-200M	105M
EBT, Excl. Unusual Items	4.05B	4.34B	5.94B	4.94B	4.86B
Impairment of Goodwill	-	-	-	-1.68M	-
Gain (Loss) On Sale Of Investments	636K	34.89M	202M	-70.29M	175M
Gain (Loss) On Sale Of Assets	-5.9M	-181M	-86.82M	-6.33M	4.99M
Asset Writedown	-53.61M	-30.97M	-53.37M	-122M	-77.98M
Legal Settlements	-	-27M	-680K	-83.63M	-
Other Unusual Items	110M	161M	288M	358M	715M
EBT, Incl. Unusual Items	4.1B	4.3B	6.29B	5.01B	5.68B
Income Tax Expense	457M	550M	640M	718M	442M
Earnings From Continuing Operations	3.65B	3.75B	5.65B	4.29B	5.24B
Net Income to Company	3.65B	3.75B	5.65B	4.29B	5.24B
Minority Interest	-24.8M	-16.82M	-32.62M	12.43M	90.37M
Net Income - (IS)	3.62B	3.73B	5.61B	4.31B	5.33B
Net Income to Common Incl Extra Items	3.62B	3.73B	5.61B	4.31B	5.33B
Net Income to Common Excl. Extra Items	3.62B	3.73B	5.61B	4.31B	5.33B
Per Share Items
Net EPS - Basic	0.43	0.45	0.71	0.36	0.45
Basic EPS - Continuing Operations	0.43	0.45	0.71	0.36	0.45
Basic Weighted Average Shares Outstanding	8.38B	8.28B	7.96B	11.96B	11.84B
Net EPS - Diluted	0.43	0.45	0.71	0.36	0.45
Diluted EPS - Continuing Operations	0.43	0.45	0.71	0.36	0.45
Diluted Weighted Average Shares Outstanding	8.38B	8.28B	7.96B	11.96B	11.84B
Normalized Basic EPS	0.3	0.33	0.46	0.26	0.26
Normalized Diluted EPS	0.3	0.33	0.46	0.26	0.26
Dividend Per Share	0.06	0.1	-	0.38	0.18
Payout Ratio	28.71	32.2	24.85	87.18	61.13
Supplemental Items
EBITDA	4.44B	5.63B	6.65B	7.84B	8.83B
EBITA	3.52B	4.61B	5.46B	4.75B	5.56B
EBIT	3.39B	4.47B	5.39B	4.66B	5.42B
EBITDAR	4.47B	5.66B	6.69B	7.9B	8.89B
Total Revenues (As Reported)	59.18B	73.97B	84.33B	93.82B	92.85B
Effective Tax Rate - (Ratio)	11.14	12.81	10.19	14.32	7.78
Total Current Taxes	538M	861M	695M	944M	1.12B
Total Deferred Taxes	-80.72M	-310M	-54.45M	-226M	-678M
Normalized Net Income	2.51B	2.7B	3.68B	3.1B	3.13B
Interest Capitalized	19.24M	-	13.56M	32.74M	32.12M
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	-	-	11.27M	16.32M	26.42M
Supplemental Operating Expense Items
Advertising Expense	87.14M	125M	99.05M	153M	186M
Selling and Marketing Expenses	2.86B	3.09B	3.93B	6.77B	6.7B
General and Administrative Expenses	883M	1.02B	1.22B	2.28B	2.64B
Research And Development Expense From Footnotes	2.13B	3.25B	2.67B	4.08B	4B
Net Rental Expense, Total	34.01M	34.98M	40.78M	57.89M	61.86M
Imputed Operating Lease Interest Expense	9.93M	11.26M	10.03M	15.01M	16.15M
Imputed Operating Lease Depreciation	24.07M	23.72M	30.75M	42.88M	45.71M
Maintenance & Repair Expenses, Total	-	-	-	-	69.42M
Stock-Based Comp., COGS (Total)	-	-	-	-	6.27M
Stock-Based Comp., R&D Exp. (Total)	-	-	-	-	22.32M
Stock-Based Comp., S&M Exp. (Total)	-	-	-	-	8.66M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	48.27M
Total Stock-Based Compensation	-	-	-	-	85.52M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	15.78B	17.02B	23.08B	27.83B	23.37B
Trading Asset Securities, Total	-	223M	164M	6.65B	39.22M
Total Cash And Short Term Investments	15.78B	17.24B	23.24B	34.48B	23.41B
Accounts Receivable, Total	32.17B	37.11B	41.78B	49.48B	47.15B
Other Receivables	602M	772M	1.06B	1.91B	2.07B
Notes Receivable	-	-	-	2.47B	1.08B
Total Receivables	32.77B	37.88B	42.83B	53.86B	50.3B
Inventory	10.49B	13.06B	16.83B	35.1B	32.38B
Prepaid Expenses	9.4M	-	78.9M	139M	50.64M
Other Current Assets, Total	1.37B	1.94B	2.18B	5.54B	4.92B
Total Current Assets	60.42B	70.13B	85.16B	129B	111B
Gross Property Plant And Equipment	13.9B	15.15B	16.82B	36.66B	41.88B
Accumulated Depreciation	-5.54B	-6.21B	-7.23B	-14.54B	-16.25B
Net Property Plant And Equipment	8.36B	8.93B	9.6B	22.12B	25.63B
Long-term Investments	4.83B	5.17B	6.63B	6.92B	8.25B
Other Intangibles, Total	2.4B	2.49B	3.12B	6.44B	7.37B
Accounts Receivable Long-Term	-	3.6B	3.49B	4.15B	4.38B
Loans Receivable Long-Term	-	-	-	1.97B	1.33B
Deferred Tax Assets Long-Term	671M	1.01B	1.27B	2.56B	2.71B
Deferred Charges Long-Term	203M	243M	430M	843M	665M
Other Long-Term Assets, Total	404M	222M	335M	958M	599M
Total Assets	77.29B	91.8B	110B	175B	162B
Liabilities
Accounts Payable, Total	27.43B	32.62B	42.85B	50.38B	41.84B
Accrued Expenses, Total	1.16B	1.75B	1.95B	2.89B	2.56B
Short-term Borrowings	4.35B	6.46B	9.22B	23.68B	15.38B
Current Portion of Long-Term Debt	469M	5.64B	3.57B	9B	13.36B
Current Portion of Leases	10.18M	37.89M	45.43M	1.18B	2.25B
Current Income Taxes Payable	338M	539M	344M	338M	397M
Unearned Revenue Current, Total	-	1.89B	2.35B	4.97B	4.71B
Other Current Liabilities	3.14B	1.9B	2.8B	4.12B	5.88B
Total Current Liabilities	36.9B	50.83B	63.13B	96.55B	86.37B
Long-Term Debt	6.5B	6.43B	9.14B	18.57B	15.2B
Long-Term Leases	61.43M	31.24M	21.21M	3.26B	1.43B
Unearned Revenue Non Current	139M	235M	294M	509M	519M
Deferred Tax Liability Non Current	38.58M	69.67M	268M	1.13B	595M
Other Non Current Liabilities	-	27M	11.48M	417M	395M
Total Liabilities	43.65B	57.63B	72.86B	120B	105B
Common Stock, Total	7.83B	7.83B	7.83B	11.82B	11.82B
Additional Paid In Capital	5.14B	5.16B	5.1B	16.78B	16.4B
Retained Earnings	15.57B	18.63B	23.37B	24.66B	28.22B
Treasury Stock	-	-	-	-	-364M
Comprehensive Income and Other	4.64B	2.07B	135M	-4.97M	74.13M
Total Common Equity	33.19B	33.69B	36.44B	53.25B	56.14B
Minority Interest	458M	478M	726M	1.4B	1.34B
Total Equity	33.65B	34.17B	37.17B	54.65B	57.49B
Total Liabilities And Equity	77.29B	91.8B	110B	175B	162B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	7.83B	7.83B	7.83B	11.82B	11.82B
ECS Total Common Shares Outstanding	7.83B	7.83B	7.83B	11.82B	11.82B
Book Value / Share	3.64	4.05	4.65	4.51	4.75
Tangible Book Value	30.79B	31.2B	33.32B	46.81B	48.77B
Tangible Book Value Per Share	3.33	3.73	4.25	3.96	4.13
Total Debt	11.4B	18.6B	21.99B	55.68B	47.61B
Net Debt	-4.38B	1.35B	-1.25B	21.2B	24.2B
Debt Equivalent Oper. Leases	272M	280M	326M	463M	495M
Minority Interest, Total (Incl. Fin. Div)	458M	478M	726M	1.4B	1.34B
Equity Method Investments, Total	4.81B	4.88B	2.2B	2.37B	4.51B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	2.5B	3.74B	4.31B	6.71B	7.13B
Inventories - Work In Process, Total	1.43B	1.83B	1.06B	5.09B	4.61B
Inventories - Finished Goods, Total	6.76B	7.8B	11.97B	23.85B	21.31B
Buildings, Total	7B	7.48B	8.25B	13.35B	16.75B
Machinery, Total	5.63B	6.1B	6.97B	20.09B	21.88B
Full Time Employees	-	15.19K	15.48K	27.46K	28.1K
Accumulated Allowance for Doubtful Accounts (Supple)	3.3B	4.26B	3.91B	5.2B	5.76B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.62B	3.73B	5.61B	4.31B	5.33B
Depreciation & Amortization - CF	922M	1.02B	1.19B	3.16B	3.36B
Amortization of Goodwill and Intangible Assets - (CF)	130M	141M	78.9M	91.3M	140M
Depreciation & Amortization, Total	1.05B	1.16B	1.27B	3.25B	3.5B
Amortization of Deferred Charges, Total - (CF)	11.94M	19.54M	131M	321M	464M
(Gain) Loss From Sale Of Asset	5.9M	181M	86.82M	6.33M	-4.99M
(Gain) Loss on Sale of Investments - (CF)	-653M	-824M	-874M	-638M	-675M
Asset Writedown & Restructuring Costs	53.61M	30.97M	53.38M	123M	77.98M
Provision for Credit Losses	-	-	-	43.96M	-16.82M
Provision and Write-off of Bad Debts	1.1B	1.59B	185M	381M	969M
Other Operating Activities, Total	395M	1.09B	888M	1.92B	1.88B
Change In Accounts Receivable	-10.6B	-10.61B	-4.97B	2.52B	3.3B
Change In Inventories	-184M	-2.68B	3.98B	-7.75B	2.6B
Change In Accounts Payable	10.98B	9.69B	2.07B	-2.2B	-12.85B
Change In Deferred Taxes	-80.72M	-310M	-54.45M	-226M	-678M
Change in Other Net Operating Assets	-568M	-288M	-317M	-482M	-329M
Cash from Operations	5.14B	2.79B	8.07B	1.58B	3.57B
Capital Expenditure	-2.35B	-2.05B	-3.27B	-7.99B	-5.97B
Sale of Property, Plant, and Equipment	445M	105M	198M	101M	64.04M
Cash Acquisitions	-	-3.3M	-	-59.8M	-
Divestitures	-	109K	2.23M	3.37M	-
Investment in Marketable and Equity Securities, Total	13.5M	-315M	-1.19B	-1.64B	5.27B
Other Investing Activities, Total	-943M	1.25B	-3.86B	3.93B	2.04B
Cash from Investing	-2.84B	-1.02B	-8.12B	-5.65B	1.41B
Long-Term Debt Issued, Total	6.88B	9.09B	34.07B	37.96B	39.04B
Total Debt Issued	6.88B	9.09B	34.07B	37.96B	39.04B
Long-Term Debt Repaid, Total	-6.31B	-4.87B	-30.27B	-31.38B	-43.14B
Total Debt Repaid	-6.31B	-4.87B	-30.27B	-31.38B	-43.14B
Issuance of Common Stock	-	-	-	-	441M
Repurchase of Common Stock	-	-	-2B	-	-852M
Common Dividends Paid	-1.04B	-1.2B	-1.4B	-3.75B	-3.26B
Common & Preferred Stock Dividends Paid	-1.04B	-1.2B	-1.4B	-3.75B	-3.26B
Other Financing Activities, Total	1.15B	-2.61B	1.11B	256M	-9.75M
Cash from Financing	682M	411M	1.51B	3.09B	-7.78B
Foreign Exchange Rate Adjustments	21.67M	-30.72M	-15.48M	270M	-177M
Net Change in Cash	3B	2.15B	1.44B	-713M	-2.97B
Supplemental Items
Cash Interest Paid	-	-	-	-	78.89M
Cash Income Tax Paid (Refund)	1.08B	1.48B	1.2B	5.56B	989M
Levered Free Cash Flow	196M	-71.61M	3.67B	-17.27B	118M
Unlevered Free Cash Flow	413M	305M	4.05B	-16.31B	1.15B
Change In Net Working Capital	414M	1.61B	-2.56B	14.8B	320M
Net Debt Issued / Repaid	567M	4.22B	3.8B	6.59B	-4.1B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.06	3.3	3.34	1.7	2.01
Return on Total Capital	5.04	5.71	6.01	2.86	3.14
Return On Equity %	11.39	11.05	15.83	7.99	9.34
Return on Common Equity	11.44	11.15	16.01	8.22	9.74
Margin Analysis
Gross Profit Margin %	17.31	16.59	15.82	19.73	21.61
SG&A Margin	6.32	5.57	6.11	9.65	10.06
EBITDA Margin %	7.5	7.61	7.89	8.36	9.51
EBITA Margin %	5.94	6.23	6.48	5.06	5.98
EBIT Margin %	5.72	6.04	6.39	4.97	5.83
Income From Continuing Operations Margin %	6.16	5.06	6.7	4.58	5.64
Net Income Margin %	6.12	5.04	6.66	4.59	5.74
Net Avail. For Common Margin %	6.12	5.04	6.66	4.59	5.74
Normalized Net Income Margin	4.24	3.64	4.36	3.3	3.37
Levered Free Cash Flow Margin	0.33	-0.1	4.35	-18.4	0.13
Unlevered Free Cash Flow Margin	0.7	0.41	4.81	-17.38	1.24
Asset Turnover
Asset Turnover	0.85	0.87	0.84	0.55	0.55
Fixed Assets Turnover	7.27	8.55	9.1	4.52	3.89
Receivables Turnover (Average Receivables)	2.11	2	2.01	1.73	1.83
Inventory Turnover (Average Inventory)	4.73	5.24	4.75	2.42	2.16
Short Term Liquidity
Current Ratio	1.64	1.38	1.35	1.34	1.29
Quick Ratio	1.32	1.08	1.05	0.89	0.84
Operating Cash Flow to Current Liabilities	0.14	0.05	0.13	0.02	0.04
Days Sales Outstanding (Average Receivables)