Balance Sheet Zhengzhou Qianweiyangchu Food Co., Ltd.

Equities

001215

CNE100004R48

Food Processing

End-of-day quote Shenzhen S.E. Other stock markets 2024-09-19			5-day change	1st Jan Change
23.56 ^CNY	+9.99%		+3.93%	-55.39%

Sep. 17	Zhengzhou Qianweiyangchu Food Gets Regulatory Approval for Cancellation of 85%-Owned Subsidiary	MT
Sep. 06	Certain A Shares of Zhengzhou Qianweiyangchu Food Co., Ltd. are subject to a Lock-Up Agreement Ending on 6-SEP-2024.	CI

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Published financial data: ZHENGZHOU QIANWEIYANGCHU FOOD CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	889M	942M	1.27B	1.48B	1.89B
Other Revenues, Total	651K	2.14M	4.32M	5.34M	7.53M
Total Revenues	889M	944M	1.27B	1.49B	1.9B
Cost of Goods Sold, Total	672M	741M	990M	1.14B	1.45B
Gross Profit	218M	204M	284M	346M	449M
Selling General & Admin Expenses, Total	108M	110M	149M	196M	248M
Provision for Bad Debts	65.62K	-270K	123K	-416K	-68.94K
R&D Expenses	5.35M	7.2M	8.99M	15.85M	21.15M
Other Operating Expenses	7.46M	8.92M	11.61M	12.23M	14.58M
Other Operating Expenses, Total	121M	126M	170M	223M	284M
Operating Income	96.85M	77.94M	114M	123M	165M
Interest Expense, Total	-971K	-4.12M	-7.17M	-7.31M	-8.96M
Interest And Investment Income	297K	807K	2.49M	5.26M	3.31M
Net Interest Expenses	-674K	-3.31M	-4.67M	-2.05M	-5.65M
Currency Exchange Gains (Loss)	-1.3K	-33.47K	-69.99K	528K	74.27K
Other Non Operating Income (Expenses)	-74.86K	-60.86K	-112K	-97.96K	-257K
EBT, Excl. Unusual Items	96.1M	74.54M	109M	121M	159M
Gain (Loss) On Sale Of Investments	-587K	-927K	355K	-416K	-1.32M
Gain (Loss) On Sale Of Assets	-1.44M	-361K	320K	-37.09K	523K
Asset Writedown	-564K	-50.81K	-3.43K	-4.5K	-2.6K
Other Unusual Items	3.88M	26.93M	3.6M	8.62M	16.04M
EBT, Incl. Unusual Items	97.39M	100M	113M	129M	174M
Income Tax Expense	23.27M	23.55M	26.11M	28.37M	41.57M
Earnings From Continuing Operations	74.12M	76.57M	87.23M	101M	133M
Net Income to Company	74.12M	76.57M	87.23M	101M	133M
Minority Interest	-	15.02K	1.23M	999K	1.71M
Net Income - (IS)	74.12M	76.59M	88.46M	102M	134M
Net Income to Common Incl Extra Items	74.12M	76.59M	88.46M	102M	134M
Net Income to Common Excl. Extra Items	74.12M	76.59M	88.46M	102M	134M
Per Share Items
Net EPS - Basic	1.29	1.24	1.25	1.2	1.58
Basic EPS - Continuing Operations	1.29	1.24	1.25	1.2	1.58
Basic Weighted Average Shares Outstanding	57.28M	61.8M	70.94M	84.93M	84.98M
Net EPS - Diluted	1.16	1.24	1.25	1.18	1.56
Diluted EPS - Continuing Operations	1.16	1.24	1.25	1.18	1.56
Diluted Weighted Average Shares Outstanding	63.82M	61.8M	70.94M	86.36M	86.07M
Normalized Basic EPS	1.05	0.75	0.98	0.9	1.19
Normalized Diluted EPS	0.94	0.75	0.98	0.89	1.17
Dividend Per Share	-	-	0.15	0.17	0.19
Payout Ratio	-	-	7.53	19.26	17.11
Supplemental Items
EBITDA	115M	110M	152M	167M	223M
EBITA	97.88M	79.1M	115M	124M	167M
EBIT	96.85M	77.94M	114M	123M	165M
EBITDAR	118M	113M	153M	168M	225M
Total Revenues (As Reported)	-	-	-	1.49B	1.9B
Effective Tax Rate - (Ratio)	23.89	23.52	23.04	21.94	23.87
Current Domestic Taxes	-	-	22.9M	-	-
Total Current Taxes	22.55M	13.28M	22.9M	34.19M	43.65M
Deferred Domestic Taxes	-	-	3.21M	-	-
Total Deferred Taxes	715K	10.27M	3.21M	-5.82M	-2.08M
Normalized Net Income	60.06M	46.6M	69.4M	76.7M	101M
Interest on Long-Term Debt	-	-	507K	680K	-
Supplemental Operating Expense Items
Advertising Expense	2.65M	3.44M	4.01M	4.09M	5.6M
Selling and Marketing Expenses	44.48M	31.02M	42.42M	58.35M	89M
General and Administrative Expenses	60.98M	77.25M	107M	137M	159M
Research And Development Expense From Footnotes	5.35M	7.2M	8.99M	15.85M	21.15M
Net Rental Expense, Total	3.11M	2.39M	918K	918K	1.53M
Imputed Operating Lease Interest Expense	-	1.52M	766K	433K	583K
Imputed Operating Lease Depreciation	-	874K	152K	485K	946K
Maintenance & Repair Expenses, Total	370K	463K	722K	1.58M	1.01M
Stock-Based Comp., Other (Total)	-	-	906K	18.07M	17.91M
Total Stock-Based Compensation	-	-	906K	18.07M	17.91M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	79.03M	117M	332M	381M	282M
Total Cash And Short Term Investments	79.03M	117M	332M	381M	282M
Accounts Receivable, Total	44.56M	52.25M	62.25M	66.62M	104M
Other Receivables	4.64M	6.98M	8.34M	6.69M	4.27M
Total Receivables	49.2M	59.23M	70.59M	73.31M	108M
Inventory	99.1M	116M	162M	182M	228M
Prepaid Expenses	-	-	-	-	5.32M
Other Current Assets, Total	36.07M	40.33M	28.67M	32.7M	26.93M
Total Current Assets	263M	333M	593M	670M	651M
Gross Property Plant And Equipment	538M	617M	771M	916M	1.18B
Accumulated Depreciation	-44.21M	-73.55M	-120M	-171M	-214M
Net Property Plant And Equipment	494M	544M	651M	746M	963M
Long-term Investments	23.01M	22.09M	22.44M	52.05M	50.78M
Goodwill	-	-	-	-	10.82M
Other Intangibles, Total	39.44M	39.24M	38.27M	37.61M	75.07M
Deferred Tax Assets Long-Term	1.74M	3.42M	5.27M	14.33M	21.47M
Deferred Charges Long-Term	2.8M	8.54M	13.42M	36.11M	22.64M
Other Long-Term Assets, Total	13.75M	5.42M	16.6M	31.7M	13.82M
Total Assets	838M	956M	1.34B	1.59B	1.81B
Liabilities
Accounts Payable, Total	117M	133M	135M	191M	222M
Accrued Expenses, Total	28.39M	27.97M	27.82M	19.43M	27.47M
Short-term Borrowings	30M	15M	15M	15M	-
Current Portion of Long-Term Debt	-	3.97M	5M	8M	9.29M
Current Portion of Leases	-	-	5.3M	3.64M	290K
Current Income Taxes Payable	5.73M	2.57M	10.04M	17.46M	20.86M
Unearned Revenue Current, Total	22.88M	14.1M	4.98M	5.65M	6.29M
Other Current Liabilities	126M	108M	124M	89.68M	89.68M
Total Current Liabilities	331M	305M	326M	350M	376M
Long-Term Debt	-	54.77M	35M	146M	184M
Long-Term Leases	-	-	7.35M	7.13M	1.93M
Deferred Tax Liability Non Current	1.97M	13.92M	18.97M	22.22M	31.28M
Other Non Current Liabilities	100M	-	-	-	-
Total Liabilities	432M	373M	388M	526M	593M
Common Stock, Total	57.28M	63.82M	86.63M	86.64M	86.64M
Additional Paid In Capital	145M	239M	546M	565M	580M
Retained Earnings	203M	280M	368M	457M	576M
Treasury Stock	-	-	-47.33M	-47.47M	-27.46M
Total Common Equity	406M	582M	954M	1.06B	1.22B
Minority Interest	-	-15.02K	-495K	5.63K	419K
Total Equity	406M	582M	953M	1.06B	1.22B
Total Liabilities And Equity	838M	956M	1.34B	1.59B	1.81B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	63.82M	86.63M	86.64M	99.27M
ECS Total Common Shares Outstanding	-	63.82M	86.63M	86.64M	86.64M
Book Value / Share	6.36	9.12	11.01	12.24	14.02
Tangible Book Value	366M	543M	915M	1.02B	1.13B
Tangible Book Value Per Share	5.74	8.51	10.57	11.81	13.03
Total Debt	30M	73.74M	67.65M	180M	196M
Net Debt	-49.03M	-43.66M	-264M	-201M	-86.41M
Debt Equivalent Oper. Leases	24.87M	19.14M	7.35M	7.35M	12.23M
Minority Interest, Total (Incl. Fin. Div)	-	-15.02K	-495K	5.63K	419K
Equity Method Investments, Total	-	-	-	30.02M	29.26M
Account Code - Inventory Valuation	-	6	6	6	6
Inventories - Raw Materials, Total	17.52M	26.05M	36.03M	46.79M	64.79M
Inventories - Finished Goods, Total	81.58M	90.12M	126M	136M	164M
Buildings, Total	238M	427M	509M	517M	719M
Machinery, Total	148M	189M	207M	268M	407M
Full Time Employees	-	-	2.17K	2.2K	2.78K
Accumulated Allowance for Doubtful Accounts (Supple)	823K	553K	585K	169K	45.37K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	74.12M	76.59M	88.46M	102M	134M
Depreciation & Amortization - CF	17.07M	31.2M	47.03M	51.95M	60.38M
Amortization of Goodwill and Intangible Assets - (CF)	1.03M	1.16M	957K	968K	1.82M
Depreciation & Amortization, Total	18.1M	32.36M	47.98M	52.92M	62.2M
Amortization of Deferred Charges, Total - (CF)	943K	1.62M	3.76M	7.42M	8.12M
(Gain) Loss From Sale Of Asset	1.44M	361K	-320K	37.09K	-523K
(Gain) Loss on Sale of Investments - (CF)	587K	927K	-355K	393K	1.32M
Asset Writedown & Restructuring Costs	564K	50.81K	3.43K	4.5K	2.6K
Provision for Credit Losses	79.12K	-264K	-	-	-
Stock-Based Compensation (CF)	-	-	906K	18.07M	17.91M
Provision and Write-off of Bad Debts	-	-	123K	-416K	-68.94K
Other Operating Activities, Total	971K	4.1M	5.96M	6.29M	7.24M
Change In Accounts Receivable	-12.85M	-10.39M	-1.47M	-7.2M	-22.63M
Change In Inventories	-43.46M	-17.06M	-45.91M	-20.37M	-43.47M
Change In Accounts Payable	45.21M	-802K	-3.92M	57.38M	36.57M
Change In Deferred Taxes	715K	10.27M	3.21M	-5.82M	-2.08M
Cash from Operations	86.41M	97.76M	98.44M	211M	199M
Capital Expenditure	-194M	-95.63M	-183M	-221M	-245M
Sale of Property, Plant, and Equipment	1.94M	1.04M	436K	57.8K	915K
Cash Acquisitions	-	-	-	-	-47.62M
Investment in Marketable and Equity Securities, Total	-	-	-	-30M	-50K
Cash from Investing	-192M	-94.59M	-183M	-251M	-292M
Long-Term Debt Issued, Total	30M	109M	212M	135M	205M
Total Debt Issued	30M	109M	212M	135M	205M
Long-Term Debt Repaid, Total	-	-65.14M	-242M	-28.97M	-184M
Total Debt Repaid	-	-65.14M	-242M	-28.97M	-184M
Issuance of Common Stock	-	-	349M	373K	-
Common Dividends Paid	-	-	-6.66M	-19.62M	-22.98M
Common & Preferred Stock Dividends Paid	-	-	-6.66M	-19.62M	-22.98M
Other Financing Activities, Total	-2.06M	-8.53M	-12.93M	1.5M	-2.63M
Cash from Financing	27.94M	35.21M	299M	88.28M	-4.89M
Net Change in Cash	-77.87M	38.38M	215M	48.15M	-98.01M
Supplemental Items
Cash Interest Paid	971K	4.12M	-	-	-
Cash Income Tax Paid (Refund)	69.44M	54.84M	75.2M	82.7M	111M
Levered Free Cash Flow	-63.89M	-61.8M	-97.99M	-74.89M	-97.32M
Unlevered Free Cash Flow	-63.28M	-59.23M	-93.51M	-70.32M	-91.72M
Change In Net Working Capital	-51.31M	46.29M	34.08M	4.64M	37.68M
Net Debt Issued / Repaid	30M	43.74M	-29.96M	106M	20.72M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	8.27	5.43	6.2	5.24	6.06
Return on Total Capital	15.75	8.92	8.51	6.78	7.76
Return On Equity %	20.07	15.5	11.36	10.02	11.65
Return on Common Equity	20.07	15.5	11.52	10.12	11.8
Margin Analysis
Gross Profit Margin %	24.46	21.56	22.27	23.26	23.6
SG&A Margin	12.12	11.63	11.7	13.15	13.06
EBITDA Margin %	12.93	11.68	11.91	11.21	11.73
EBITA Margin %	11.01	8.38	9.02	8.31	8.76
EBIT Margin %	10.89	8.25	8.94	8.24	8.67
Income From Continuing Operations Margin %	8.33	8.11	6.85	6.78	6.97
Net Income Margin %	8.33	8.11	6.94	6.85	7.06
Net Avail. For Common Margin %	8.33	8.11	6.94	6.85	7.06
Normalized Net Income Margin	6.75	4.93	5.45	5.15	5.31
Levered Free Cash Flow Margin	-7.18	-6.54	-7.69	-5.03	-5.12
Unlevered Free Cash Flow Margin	-7.12	-6.27	-7.34	-4.72	-4.83
Asset Turnover
Asset Turnover	1.22	1.05	1.11	1.02	1.12
Fixed Assets Turnover	2.35	1.82	2.13	2.13	2.22
Receivables Turnover (Average Receivables)	20.53	19.47	22.18	23.02	22.22
Inventory Turnover (Average Inventory)	8.68	6.88	7.12	6.63	7.07
Short Term Liquidity
Current Ratio	0.8	1.09	1.82	1.91	1.73
Quick Ratio	0.39	0.58	1.23	1.3	1.04
Operating Cash Flow to Current Liabilities	0.26	0.32	0.3	0.6	0.53
Days Sales Outstanding (Average Receivables)	17.78	18.8	16.46	15.86	16.42
Days Outstanding Inventory (Average Inventory)	42.04	53.18	51.28	55.04	51.64
Average Days Payable Outstanding	50.89	60.32	47.07	52.59	50.34
Cash Conversion Cycle (Average Days)	8.93	11.66	20.67	18.3	17.73
Long Term Solvency
Total Debt/Equity	7.39	12.66	7.1	16.99	16.11
Total Debt / Total Capital	6.88	11.24	6.63	14.52	13.87
LT Debt/Equity	-	9.4	4.44	14.48	15.32
Long-Term Debt / Total Capital	-	8.35	4.15	12.38	13.2
Total Liabilities / Total Assets	51.59	39.06	28.91	33.15	32.8
EBIT / Interest Expense	99.76	18.94	15.9	16.79	18.39
EBITDA / Interest Expense	118.41	26.8	22.6	24.03	25.34
(EBITDA - Capex) / Interest Expense	-81.6	3.56	-2.98	-6.18	-2.04
Total Debt / EBITDA	0.26	0.67	0.42	1.03	0.86
Net Debt / EBITDA	-0.43	-0.4	-1.63	-1.14	-0.38
Total Debt / (EBITDA - Capex)	-0.38	5.03	-3.16	-3.99	-10.7
Net Debt / (EBITDA - Capex)	0.62	-2.98	12.37	4.45	4.72
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	26.82	6.2	34.89	16.86	27.69
Gross Profit, 1 Yr. Growth %	30.36	-6.4	39.37	22.01	29.6
EBITDA, 1 Yr. Growth %	31.56	-4.05	37.52	9.86	33.58
EBITA, 1 Yr. Growth %	24.8	-19.19	45.2	7.57	34.51
EBIT, 1 Yr. Growth %	24.62	-19.52	46.18	7.73	34.21
Earnings From Cont. Operations, 1 Yr. Growth %	26.32	3.31	13.92	15.68	31.04
Net Income, 1 Yr. Growth %	26.32	3.33	15.51	15.2	31.43
Normalized Net Income, 1 Yr. Growth %	22.33	-22.41	48.93	10.51	31.71
Diluted EPS Before Extra, 1 Yr. Growth %	13.73	6.83	0.63	-5.6	32.2
Accounts Receivable, 1 Yr. Growth %	6.01	17.26	1