Income Statement Xinxiang Chemical Fiber Co., Ltd.

Equities

000949

CNE0000010N4

Textiles & Leather Goods

End-of-day quote Shenzhen S.E. Other stock markets 2024-09-09			5-day change	1st Jan Change
3.340 ^CNY	-4.57%		-12.34%	+3.41%

Aug. 15	Xinxiang Chemical Fiber Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI
Jul. 08	Xinxiang Chemical Fiber Co., Ltd. announced a financing transaction	CI

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Published financial data: XINXIANG CHEMICAL FIBER CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	4.65B	4.31B	8.57B	6.82B	7.12B
Other Revenues, Total	159M	163M	173M	457M	256M
Total Revenues	4.8B	4.48B	8.74B	7.27B	7.38B
Cost of Goods Sold, Total	4.12B	3.74B	5.95B	7.12B	6.84B
Gross Profit	679M	734M	2.79B	155M	535M
Selling General & Admin Expenses, Total	328M	257M	379M	485M	220M
Provision for Bad Debts	10.96M	4.73M	-6.41M	3.64M	16.12M
R&D Expenses	12.26M	96.65M	128M	190M	104M
Other Operating Expenses	41.82M	61.73M	128M	57.17M	67.97M
Other Operating Expenses, Total	393M	420M	629M	736M	408M
Operating Income	286M	314M	2.16B	-581M	127M
Interest Expense, Total	-130M	-153M	-159M	-138M	-139M
Interest And Investment Income	6.05M	3.12M	7.81M	25.92M	15.32M
Net Interest Expenses	-124M	-150M	-151M	-112M	-123M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	7.58M	-38.27M	-33.41M	94.04M	7.8M
Other Non Operating Income (Expenses)	-6.61M	-4.15M	-7.14M	-42.33M	-6.31M
EBT, Excl. Unusual Items	163M	121M	1.97B	-642M	5.32M
Gain (Loss) On Sale Of Investments	-594K	-11.59M	-5.82M	26.92K	-8.6M
Gain (Loss) On Sale Of Assets	-1.89M	-6.43M	-808	1.78K	-
Asset Writedown	-5.24M	-31.91M	-127M	-4.62M	-8.21M
Insurance Settlements	-	-	-	-	-
Other Unusual Items	16.89M	37.15M	-44.75M	26.48M	27.16M
EBT, Incl. Unusual Items	173M	109M	1.79B	-620M	15.67M
Income Tax Expense	42.72M	25.1M	425M	-185M	57.82M
Earnings From Continuing Operations	130M	83.57M	1.37B	-435M	-42.15M
Net Income to Company	130M	83.57M	1.37B	-435M	-42.15M
Minority Interest	-235K	13.82K	111K	70.4K	-
Net Income - (IS)	130M	83.59M	1.37B	-435M	-42.15M
Net Income to Common Incl Extra Items	130M	83.59M	1.37B	-435M	-42.15M
Net Income to Common Excl. Extra Items	130M	83.59M	1.37B	-435M	-42.15M
Per Share Items
Net EPS - Basic	0.1	0.07	1	-0.3	-0.03
Basic EPS - Continuing Operations	0.1	0.07	1	-0.3	-0.03
Basic Weighted Average Shares Outstanding	1.26B	1.26B	1.36B	1.47B	1.42B
Net EPS - Diluted	0.1	0.07	1	-0.3	-0.03
Diluted EPS - Continuing Operations	0.1	0.07	1	-0.3	-0.03
Diluted Weighted Average Shares Outstanding	1.26B	1.26B	1.36B	1.47B	1.42B
Normalized Basic EPS	0.08	0.06	0.9	-0.27	0
Normalized Diluted EPS	0.08	0.06	0.9	-0.27	0
Dividend Per Share	0.01	0.01	0.1	-	-
Payout Ratio	125.5	208.32	12.71	-68.55	-368.76
Supplemental Items
EBITDA	716M	761M	2.75B	157M	888M
EBITA	288M	316M	2.16B	-577M	134M
EBIT	286M	314M	2.16B	-581M	127M
EBITDAR	722M	767M	2.75B	161M	895M
Total Revenues (As Reported)	4.8B	4.48B	8.74B	7.27B	7.38B
Effective Tax Rate - (Ratio)	24.76	23.1	23.76	29.86	369.07
Total Current Taxes	24.71M	-830K	449M	-4.06M	89.61K
Total Deferred Taxes	18.02M	25.93M	-23.86M	-181M	57.73M
Normalized Net Income	102M	75.93M	1.23B	-401M	3.33M
Interest Capitalized	22.66M	8.1M	607K	14.7M	18.01M
Supplemental Operating Expense Items
Advertising Expense	965K	513K	575K	432K	583K
Marketing Expenses	341K	-	-	-	-
Selling and Marketing Expenses	103M	33.92M	37.19M	32.52M	33.36M
General and Administrative Expenses	221M	219M	342M	452M	187M
Research And Development Expense From Footnotes	99.92M	96.65M	128M	190M	104M
Net Rental Expense, Total	5.35M	6.22M	3.43M	4.14M	6.82M
Imputed Operating Lease Interest Expense	2.07M	2.15M	1.14M	1.3M	1.99M
Imputed Operating Lease Depreciation	3.27M	4.06M	2.29M	2.84M	4.84M
Maintenance & Repair Expenses, Total	35.74M	44.98M	89.84M	136M	14.63M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	554M	912M	1.64B	1.3B	1.3B
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	-	-	550M	20.03M	50.03M
Total Cash And Short Term Investments	554M	912M	2.19B	1.32B	1.35B
Accounts Receivable, Total	814M	1.06B	888M	984M	1.34B
Other Receivables	4.14M	4.27M	8.58M	2.26M	754K
Total Receivables	818M	1.06B	897M	986M	1.34B
Inventory	1.19B	1.21B	1.39B	1.16B	1.17B
Prepaid Expenses	4.38M	-	-	-	-
Other Current Assets, Total	39.2M	59.84M	134M	205M	140M
Total Current Assets	2.6B	3.24B	4.61B	3.67B	4B
Gross Property Plant And Equipment	9.13B	9.49B	10.86B	12.08B	13.37B
Accumulated Depreciation	-3.92B	-4.37B	-4.69B	-5.32B	-6.02B
Net Property Plant And Equipment	5.21B	5.12B	6.16B	6.75B	7.35B
Long-term Investments	151M	150M	179M	162M	152M
Other Intangibles, Total	72.88M	140M	138M	283M	276M
Deferred Tax Assets Long-Term	61.41M	119M	127M	286M	166M
Deferred Charges Long-Term	708K	386K	-	-	-
Other Long-Term Assets, Total	33.08M	10.83M	26.46M	29.06M	44.44M
Total Assets	8.13B	8.78B	11.25B	11.19B	11.99B
Liabilities
Accounts Payable, Total	717M	495M	876M	1.05B	1.8B
Accrued Expenses, Total	44.12M	56.55M	57.52M	43.88M	39.56M
Short-term Borrowings	849M	886M	475M	802M	812M
Current Portion of Long-Term Debt	495M	1.06B	1B	1.01B	1.04B
Current Portion of Leases	-	-	4.19M	6.55M	6.34M
Current Income Taxes Payable	582K	51.88K	75.22M	52.27K	-
Unearned Revenue Current, Total	-	-	124M	72.94M	58.51M
Other Current Liabilities	72.9M	88.83M	83.97M	66.86M	59.94M
Total Current Liabilities	2.18B	2.58B	2.7B	3.05B	3.82B
Long-Term Debt	2.03B	2.12B	2.1B	2.4B	2.53B
Long-Term Leases	8.98M	-	792K	9.73M	3.4M
Unearned Revenue Non Current	66.77M	72.46M	66.35M	55.18M	100M
Deferred Tax Liability Non Current	73.42M	157M	141M	125M	62.82M
Other Non Current Liabilities	-	-	34.82M	39.9M	32.05M
Total Liabilities	4.35B	4.93B	5.04B	5.68B	6.55B
Common Stock, Total	1.26B	1.26B	1.47B	1.47B	1.47B
Additional Paid In Capital	1.69B	1.69B	2.49B	2.49B	2.49B
Retained Earnings	826M	897M	2.25B	1.69B	1.65B
Treasury Stock	-	-	-	-130M	-151M
Total Common Equity	3.78B	3.85B	6.2B	5.51B	5.45B
Minority Interest	-73	986K	875K	-	-
Total Equity	3.78B	3.85B	6.2B	5.51B	5.45B
Total Liabilities And Equity	8.13B	8.78B	11.25B	11.19B	11.99B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.26B	1.26B	1.47B	1.43B	1.42B
ECS Total Common Shares Outstanding	1.26B	1.26B	1.47B	1.43B	1.42B
Book Value / Share	3	3.06	4.23	3.86	3.83
Tangible Book Value	3.7B	3.71B	6.06B	5.23B	5.17B
Tangible Book Value Per Share	2.95	2.95	4.13	3.66	3.63
Total Debt	3.38B	4.06B	3.58B	4.23B	4.39B
Net Debt	2.82B	3.15B	1.39B	2.9B	3.04B
Debt Equivalent Oper. Leases	42.76M	49.72M	27.46M	33.13M	54.6M
Minority Interest, Total (Incl. Fin. Div)	-73	986K	875K	-	-
Equity Method Investments, Total	151M	150M	179M	162M	152M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	448M	319M	471M	551M	337M
Inventories - Work In Process, Total	35.31M	30.57M	33.64M	31.73M	32.62M
Inventories - Finished Goods, Total	733M	877M	905M	614M	835M
Inventories - Others	4.34M	3.43M	4.11M	3.87M	3.26M
Buildings, Total	1.41B	1.52B	1.58B	1.71B	1.87B
Machinery, Total	7.35B	7.87B	7.91B	9.23B	10.18B
Full Time Employees	9.22K	8.79K	8.85K	8.4K	8.05K
Assets under Capital Lease - Gross	225M	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-68.85M	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	56.64M	61.36M	53.57M	36.3M	52.43M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	130M	83.59M	1.37B	-435M	-42.15M
Depreciation & Amortization - CF	428M	444M	589M	741M	761M
Amortization of Goodwill and Intangible Assets - (CF)	2.03M	2.73M	3.43M	4.14M	6.82M
Depreciation & Amortization, Total	430M	447M	593M	746M	768M
Amortization of Deferred Charges, Total - (CF)	430K	418K	510K	601K	834K
(Gain) Loss From Sale Of Asset	1.89M	6.43M	808	-1.78K	-
(Gain) Loss on Sale of Investments - (CF)	594K	11.59M	5.82M	-6.44M	8.6M
Asset Writedown & Restructuring Costs	5.24M	31.88M	127M	4.62M	8.21M
Provision and Write-off of Bad Debts	10.96M	4.73M	-6.41M	3.64M	16.12M
Other Operating Activities, Total	155M	203M	195M	141M	155M
Change In Accounts Receivable	-269M	-505M	96.13M	-170M	-307M
Change In Inventories	-40.91M	-41.4M	-193M	201M	-33.32M
Change In Accounts Payable	-174M	-166M	-164M	-406M	-66.85M
Change In Deferred Taxes	18.02M	25.93M	-23.88M	-181M	57.73M
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	268M	102M	1.99B	-103M	566M
Capital Expenditure	-574M	-231M	-1.22B	-990M	-599M
Sale of Property, Plant, and Equipment	2.08M	1.37M	42.33M	5.48M	5.36M
Investment in Marketable and Equity Securities, Total	-13.72M	-11.04M	-559M	548M	-30M
Other Investing Activities, Total	-	-	3.48M	5.85M	1.06M
Cash from Investing	-585M	-241M	-1.73B	-431M	-623M
Long-Term Debt Issued, Total	2.04B	2.37B	1.74B	2.43B	2.24B
Total Debt Issued	2.04B	2.37B	1.74B	2.43B	2.24B
Long-Term Debt Repaid, Total	-1.55B	-1.68B	-2.22B	-1.8B	-2.07B
Total Debt Repaid	-1.55B	-1.68B	-2.22B	-1.8B	-2.07B
Issuance of Common Stock	-	-	973M	-	-
Repurchase of Common Stock	-	-	-	-130M	-21M
Common Dividends Paid	-163M	-174M	-173M	-298M	-155M
Common & Preferred Stock Dividends Paid	-163M	-174M	-173M	-298M	-155M
Other Financing Activities, Total	-36.92M	1M	-889K	-1M	-
Cash from Financing	286M	521M	313M	200M	-10.72M
Foreign Exchange Rate Adjustments	4.55M	-28.48M	-23.63M	57.47M	4.43M
Net Change in Cash	-26.79M	354M	554M	-277M	-63.13M
Supplemental Items
Cash Income Tax Paid (Refund)	-66.05M	74.32M	649M	-110M	-93.89M
Levered Free Cash Flow	-431M	-155M	1.11B	-609M	592M
Unlevered Free Cash Flow	-350M	-59M	1.21B	-523M	679M
Change In Net Working Capital	386M	472M	-482M	-84.39M	-430M
Net Debt Issued / Repaid	486M	694M	-486M	628M	166M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.23	2.32	13.48	-3.24	0.69
Return on Total Capital	2.6	2.6	15.25	-3.72	0.81
Return On Equity %	3.49	2.19	27.16	-7.41	-0.77
Return on Common Equity	3.48	2.19	27.16	-7.41	-0.77
Margin Analysis
Gross Profit Margin %	14.14	16.39	31.91	2.13	7.25
SG&A Margin	6.83	5.73	4.34	6.66	2.98
EBITDA Margin %	14.91	17	31.41	2.16	12.04
EBITA Margin %	6	7.07	24.75	-7.93	1.82
EBIT Margin %	5.96	7.01	24.71	-7.99	1.72
Income From Continuing Operations Margin %	2.7	1.87	15.62	-5.98	-0.57
Net Income Margin %	2.7	1.87	15.62	-5.97	-0.57
Net Avail. For Common Margin %	2.7	1.87	15.62	-5.97	-0.57
Normalized Net Income Margin	2.12	1.7	14.08	-5.51	0.04
Levered Free Cash Flow Margin	-8.97	-3.45	12.69	-8.37	8.03
Unlevered Free Cash Flow Margin	-7.29	-1.32	13.82	-7.19	9.2
Asset Turnover
Asset Turnover	0.6	0.53	0.87	0.65	0.64
Fixed Assets Turnover	0.94	0.87	1.55	1.12	1.05
Receivables Turnover (Average Receivables)