ZHONGHANG ELECTRONIC MEASURING INSTRUMENTS CO.,LTD

Cash flow Zhonghang Electronic Measuring Instruments Co.,Ltd

Equities

300114

CNE100000T08

Electrical Components & Equipment

End-of-day quote Shenzhen S.E. Other stock markets 2024-09-13			5-day change	1st Jan Change
40.59 ^CNY	0.00%		-1.86%	-7.22%

Aug. 28	Zhonghang Electronic Measuring Instruments Co.,Ltd Reports Earnings Results for the Half Year Ended June 30, 2024	CI
Apr. 25	Zhonghang Electronic Measuring Instruments Co.,Ltd Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

dc7dc048e4beac912029c0e17a69594.nu5kn0s5-irr0NVMsEiyaysDKknSh1-_WiB0kjHW_kE.qak19XJbnU-vmph4_TDVXVM6YDOw0ArKMFA18wXvqRnYuhbzfgmYXKqblA

Published financial data: ZHONGHANG ELECTRONIC MEASURING INSTRUMENTS CO.,LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	1.52B	1.72B	1.9B	1.89B	1.65B
Other Revenues, Total	26.42M	37.51M	44.75M	17.08M	30.08M
Total Revenues	1.54B	1.76B	1.94B	1.91B	1.68B
Cost of Goods Sold, Total	955M	1.08B	1.22B	1.22B	1.14B
Gross Profit	590M	684M	720M	685M	538M
Selling General & Admin Expenses, Total	300M	311M	283M	319M	295M
Provision for Bad Debts	4.9M	8.92M	11.36M	15.97M	2.2M
R&D Expenses	70.76M	96.21M	116M	161M	169M
Other Operating Expenses	10.33M	3.03M	8.99M	16.65M	10.85M
Other Operating Expenses, Total	386M	419M	419M	512M	477M
Operating Income	204M	265M	301M	173M	60.61M
Interest Expense, Total	-	-	-1.29M	-4.04M	-5.72M
Interest And Investment Income	30.22M	33.16M	30.47M	26.05M	24.21M
Net Interest Expenses	30.22M	33.16M	29.19M	22.01M	18.49M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	2.41M	518K	-932K	1.33M	5.03M
Other Non Operating Income (Expenses)	-1.08M	88.48K	-256K	-539K	-1.1M
EBT, Excl. Unusual Items	236M	299M	329M	196M	83.02M
Gain (Loss) On Sale Of Investments	-	-	-	-	-4.45K
Gain (Loss) On Sale Of Assets	-231K	95.67K	206K	118K	95.75K
Asset Writedown	179K	-857K	-528K	-344K	-290K
Other Unusual Items	8.42M	9.22M	20.73M	17.57M	10.06M
EBT, Incl. Unusual Items	244M	308M	350M	214M	92.88M
Income Tax Expense	24.77M	35.84M	33.46M	17.23M	-5.98M
Earnings From Continuing Operations	220M	272M	316M	196M	98.87M
Net Income to Company	220M	272M	316M	196M	98.87M
Minority Interest	-7.12M	-9.19M	-9.31M	-3.53M	-699K
Net Income - (IS)	212M	263M	307M	193M	98.17M
Net Income to Common Incl Extra Items	212M	263M	307M	193M	98.17M
Net Income to Common Excl. Extra Items	212M	263M	307M	193M	98.17M
Per Share Items
Net EPS - Basic	0.36	0.45	0.52	0.33	0.17
Basic EPS - Continuing Operations	0.36	0.45	0.52	0.33	0.17
Basic Weighted Average Shares Outstanding	590M	583M	590M	584M	577M
Net EPS - Diluted	0.36	0.45	0.52	0.33	0.17
Diluted EPS - Continuing Operations	0.36	0.45	0.52	0.33	0.17
Diluted Weighted Average Shares Outstanding	590M	583M	590M	584M	577M
Normalized Basic EPS	0.24	0.3	0.33	0.2	0.09
Normalized Diluted EPS	0.24	0.3	0.33	0.2	0.09
Dividend Per Share	0.05	0.05	0.05	0.03	-
Payout Ratio	7.99	6.75	4.95	12.82	21.5
Supplemental Items
EBITDA	243M	308M	350M	225M	114M
EBITA	208M	269M	307M	179M	65.55M
EBIT	204M	265M	301M	173M	60.61M
EBITDAR	245M	310M	354M	229M	118M
Total Revenues (As Reported)	1.54B	1.76B	1.94B	1.91B	1.68B
Effective Tax Rate - (Ratio)	10.14	11.65	9.57	8.06	-6.44
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	26M	36.08M	34.87M	19.96M	838K
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-1.23M	-240K	-1.4M	-2.74M	-6.82M
Normalized Net Income	140M	178M	197M	119M	51.19M
Interest Capitalized	-	-	-	78.18K	4.81M
Interest on Long-Term Debt	-	-	791K	646K	675K
Non-Cash Pension Expense	-	25K	2.08M	1.94M	1.19M
Supplemental Operating Expense Items
Advertising Expense	843K	21.59M	7.8M	4.49M	826K
Selling and Marketing Expenses	143M	148M	105M	125M	100M
General and Administrative Expenses	156M	163M	178M	193M	195M
Research And Development Expense From Footnotes	74.64M	101M	116M	161M	169M
Net Rental Expense, Total	1.33M	2.42M	4.01M	4.01M	4.01M
Imputed Operating Lease Interest Expense	-	-	-	1.01M	998K
Imputed Operating Lease Depreciation	-	-	-	3M	3.02M
Maintenance & Repair Expenses, Total	1.98M	1.99M	3.14M	2.95M	2.76M
Stock-Based Comp., G&A Exp. (Total)	-	11.67M	-	-	-
Total Stock-Based Compensation	-	11.67M	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	644M	720M	433M	331M	461M
Trading Asset Securities, Total	-	-	-	-	597K
Total Cash And Short Term Investments	644M	720M	433M	331M	462M
Accounts Receivable, Total	576M	675M	994M	1.18B	1.12B
Other Receivables	8.33M	21.69M	10.34M	11.81M	14.26M
Total Receivables	584M	697M	1B	1.19B	1.13B
Inventory	470M	593M	692M	661M	665M
Prepaid Expenses	-	-	3.53M	4.91M	7.13M
Other Current Assets, Total	41.92M	38.35M	28.37M	43.95M	68.45M
Total Current Assets	1.74B	2.05B	2.16B	2.23B	2.34B
Gross Property Plant And Equipment	784M	799M	1.04B	1.35B	1.52B
Accumulated Depreciation	-311M	-332M	-381M	-415M	-454M
Net Property Plant And Equipment	473M	467M	656M	935M	1.07B
Long-term Investments	153M	181M	181M	206M	260M
Goodwill	30.24M	30.24M	30.24M	30.24M	30.24M
Other Intangibles, Total	60.44M	151M	188M	186M	185M
Accounts Receivable Long-Term	-	-	307K	80.2K	-
Deferred Tax Assets Long-Term	7.81M	7.77M	9.18M	15.69M	25.41M
Deferred Charges Long-Term	3.2M	1.32M	2.68M	2.08M	5.4M
Other Long-Term Assets, Total	19.97M	47.11M	71.07M	47.45M	62.03M
Total Assets	2.49B	2.93B	3.3B	3.65B	3.97B
Liabilities
Accounts Payable, Total	405M	568M	652M	747M	748M
Accrued Expenses, Total	62.4M	62.07M	67.07M	91.09M	102M
Short-term Borrowings	-	-	-	100M	94.21M
Current Portion of Long-Term Debt	-	-	40M	-	14.14M
Current Portion of Leases	-	-	5.43M	4.73M	1.28M
Current Income Taxes Payable	6.73M	9M	14.61M	10.09M	-
Unearned Revenue Current, Total	272M	225M	160M	105M	65.54M
Other Current Liabilities	39.63M	69.09M	127M	129M	114M
Total Current Liabilities	786M	933M	1.07B	1.19B	1.14B
Long-Term Debt	-	-	10M	87.38M	369M
Long-Term Leases	-	-	8.69M	3.96M	2.68M
Unearned Revenue Non Current	28.43M	28.28M	26.53M	26.29M	42.57M
Deferred Tax Liability Non Current	815K	532K	285K	4.07M	7.29M
Other Non Current Liabilities	6.68M	-3.28M	-13.65M	3.26M	-10.66M
Total Liabilities	822M	958M	1.1B	1.31B	1.55B
Common Stock, Total	591M	591M	591M	591M	591M
Additional Paid In Capital	71.33M	95.43M	95.88M	95.56M	95.46M
Retained Earnings	978M	1.21B	1.49B	1.65B	1.73B
Treasury Stock	-39.55M	-	-60.81M	-60.81M	-60.81M
Comprehensive Income and Other	2.82M	8.87M	12.14M	21.09M	27.05M
Total Common Equity	1.6B	1.91B	2.13B	2.3B	2.39B
Minority Interest	62.44M	67.83M	73.26M	41.74M	40.13M
Total Equity	1.67B	1.97B	2.2B	2.34B	2.43B
Total Liabilities And Equity	2.49B	2.93B	3.3B	3.65B	3.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	586M	591M	586M	586M	586M
ECS Total Common Shares Outstanding	586M	591M	586M	586M	586M
Book Value / Share	2.73	3.23	3.63	3.92	4.07
Tangible Book Value	1.51B	1.73B	1.91B	2.08B	2.17B
Tangible Book Value Per Share	2.58	2.92	3.26	3.56	3.7
Total Debt	0	0	64.12M	196M	481M
Net Debt	-644M	-720M	-369M	-134M	19.42M
Debt Equivalent Oper. Leases	10.65M	19.4M	32.11M	32.11M	32.11M
Minority Interest, Total (Incl. Fin. Div)	62.44M	67.83M	73.26M	41.74M	40.13M
Equity Method Investments, Total	149M	177M	178M	203M	258M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	134M	182M	245M	252M	267M
Inventories - Work In Process, Total	67.12M	144M	172M	199M	200M
Inventories - Finished Goods, Total	284M	277M	282M	215M	205M
Inventories - Others	31.48K	133K	249K	351K	319K
Buildings, Total	439M	436M	465M	454M	893M
Machinery, Total	321M	348M	390M	413M	457M
Full Time Employees	3.15K	3.56K	3.5K	3.44K	3.38K
Accumulated Allowance for Doubtful Accounts (Supple)	31.09M	37.36M	46.56M	58.24M	57.84M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	212M	263M	307M	193M	98.17M
Depreciation & Amortization - CF	35.4M	38.25M	48.95M	51.49M	53.32M
Amortization of Goodwill and Intangible Assets - (CF)	3.56M	4.11M	5.52M	5.12M	4.94M
Depreciation & Amortization, Total	38.96M	42.36M	54.48M	56.61M	58.26M
Amortization of Deferred Charges, Total - (CF)	1.3M	2.19M	1.22M	2.31M	2.47M
(Gain) Loss From Sale Of Asset	231K	-95.67K	-206K	-118K	-95.75K
(Gain) Loss on Sale of Investments - (CF)	-18.91M	-21.33M	-21.44M	-22.24M	-20.15M
Asset Writedown & Restructuring Costs	8.16M	8.62M	13.99M	306K	2.49M
Provision and Write-off of Bad Debts	-	-	-	15.97M	5.82M
Other Operating Activities, Total	7.12M	9.19M	10.59M	8.86M	7.45M
Change In Accounts Receivable	-52.49M	-141M	-324M	-216M	-28.25M
Change In Inventories	-146M	-122M	-96.77M	32.55M	-5.48M
Change In Accounts Payable	270M	179M	27.4M	-25.97M	3.94M
Change In Deferred Taxes	-1.23M	-240K	-1.4M	-2.74M	-6.86M
Change in Other Net Operating Assets	4.87M	-2.74M	13.69M	6.64M	12.38M
Cash from Operations	324M	216M	-15.44M	49.5M	130M
Capital Expenditure	-47.22M	-159M	-263M	-221M	-239M
Sale of Property, Plant, and Equipment	216K	200K	221K	127K	3.06M
Cash Acquisitions	-	-	-	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-2.52M	-16.33M	-	-10M	-40M
Other Investing Activities, Total	638K	9.7M	36.45M	4.63M	6.35M
Cash from Investing	-48.89M	-166M	-227M	-226M	-270M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	50M	177M	394M
Total Debt Issued	-	-	50M	177M	394M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-	-	-46M	-110M
Total Debt Repaid	-	-	-	-46M	-110M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-16.98M	-17.71M	-15.21M	-24.72M	-21.11M
Common & Preferred Stock Dividends Paid	-16.98M	-17.71M	-15.21M	-24.72M	-21.11M
Other Financing Activities, Total	-39.63M	35.07M	-71.51M	-34.99M	-2.01M
Cash from Financing	-56.61M	17.36M	-36.72M	71.65M	261M
Foreign Exchange Rate Adjustments	-	-850K	-499K	41.44K	771K
Net Change in Cash	219M	66.75M	-279M	-105M	122M
Supplemental Items
Cash Income Tax Paid (Refund)	85.32M	81.24M	79.73M	84.22M	119M
Levered Free Cash Flow	206M	-22.87M	-331M	-168M	-172M
Unlevered Free Cash Flow	206M	-22.87M	-330M	-166M	-168M
Change In Net Working Capital	-85.29M	85.67M	311M	112M	27.71M
Net Debt Issued / Repaid	-	-	50M	131M	284M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.61	6.12	6.04	3.12	0.99
Return on Total Capital	8.04	9.11	8.89	4.52	1.39
Return On Equity %	13.82	14.92	15.15	8.65	4.15
Return on Common Equity	13.89	14.96	15.22	8.71	4.19
Margin Analysis
Gross Profit Margin %	38.2	38.88	37.08	35.98	32.05
SG&A Margin	19.4	17.66	14.57	16.73	17.6
EBITDA Margin %	15.75	17.48	18.03	11.79	6.81
EBITA Margin %	13.46	15.31	15.8	9.37	3.91
EBIT Margin %	13.23	15.08	15.51	9.11	3.61
Income From Continuing Operations Margin %	14.21	15.44	16.28	10.31	5.89
Net Income Margin %	13.75	14.92	15.8	10.12	5.85
Net Avail. For Common Margin %