Cash flow AInnovation Technology Group Co., Ltd

Equities

2121

CNE1000055Z1

Software

Market Closed - Hong Kong S.E. Other stock markets 01:38:16 16/09/2024 pm IST			5-day change	1st Jan Change
3.750 ^HKD	-2.85%		-5.06%	-59.55%

26/08	AInnovation Technology Group Co., Ltd Reports Earnings Results for the Half Year Ended June 30, 2024	CI
08/08	Qingdao AInnovation Technology Expects Lower Profit, Better Cash Flows in H1; Shares Drop 7%	MT

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Published financial data: AINNOVATION TECHNOLOGY GROUP CO., LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	229M	462M	861M	1.56B	1.75B
Total Revenues	229M	462M	861M	1.56B	1.75B
Cost of Goods Sold, Total	158M	328M	594M	1.05B	1.16B
Gross Profit	71.61M	135M	267M	507M	588M
Selling General & Admin Expenses, Total	203M	256M	565M	492M	621M
Provision for Bad Debts	5.5M	18.95M	24.06M	37.55M	85.31M
R&D Expenses	113M	182M	328M	416M	450M
Other Operating Expenses	46K	287K	-27.89M	-56.54M	-57.38M
Other Operating Expenses, Total	322M	456M	889M	890M	1.1B
Operating Income	-250M	-322M	-622M	-382M	-510M
Interest Expense, Total	-35.6M	-83.11M	-36.1M	-8.09M	-8.57M
Interest And Investment Income	10.62M	9.45M	28.9M	39.34M	32.9M
Net Interest Expenses	-24.98M	-73.66M	-7.19M	31.25M	24.32M
Income (Loss) On Equity Invest.	-	-	-	-575K	-342K
Currency Exchange Gains (Loss)	-	-	-5.75M	5.05M	-5.27M
Other Non Operating Income (Expenses)	-	-	-	526K	-
EBT, Excl. Unusual Items	-275M	-395M	-635M	-346M	-492M
Gain (Loss) On Sale Of Investments	-	-	-	-8.72M	-89.68M
Gain (Loss) On Sale Of Assets	-137K	-3K	-	-334K	1.85M
Other Unusual Items	27.12M	34.95M	-	-6.4M	-
EBT, Incl. Unusual Items	-248M	-360M	-635M	-362M	-580M
Income Tax Expense	303K	172K	208K	-512K	-9.26M
Earnings From Continuing Operations	-248M	-361M	-635M	-361M	-570M
Net Income to Company	-248M	-361M	-635M	-361M	-570M
Minority Interest	4.13M	-364K	-1.48M	-1.88M	-12.06M
Net Income - (IS)	-244M	-361M	-637M	-363M	-582M
Net Income to Common Incl Extra Items	-244M	-361M	-637M	-363M	-582M
Net Income to Common Excl. Extra Items	-244M	-361M	-637M	-363M	-582M
Per Share Items
Net EPS - Basic	-1.09	-1.49	-1.43	-0.66	-1.05
Basic EPS - Continuing Operations	-1.09	-1.49	-1.43	-0.66	-1.05
Basic Weighted Average Shares Outstanding	223M	242M	445M	551M	556M
Net EPS - Diluted	-1.09	-1.49	-1.43	-0.66	-1.05
Diluted EPS - Continuing Operations	-1.09	-1.49	-1.43	-0.66	-1.05
Diluted Weighted Average Shares Outstanding	223M	242M	445M	551M	556M
Normalized Basic EPS	-0.75	-1.02	-0.9	-0.4	-0.57
Normalized Diluted EPS	-0.75	-1.02	-0.9	-0.4	-0.57
Supplemental Items
EBITDA	-242M	-306M	-598M	-341M	-455M
EBITA	-250M	-322M	-622M	-373M	-485M
EBIT	-250M	-322M	-622M	-382M	-510M
Effective Tax Rate - (Ratio)	-0.12	-0.05	-0.03	0.14	1.6
Current Domestic Taxes	303K	172K	208K	-	-
Total Current Taxes	303K	172K	208K	3.67M	818K
Total Deferred Taxes	-	-	-	-4.18M	-10.08M
Normalized Net Income	-168M	-247M	-398M	-218M	-319M
Interest on Long-Term Debt	35.6M	83.11M	36.1M	5.63M	5.73M
Supplemental Operating Expense Items
Marketing Expenses	46.42M	7.98M	8.32M	18.32M	37M
Selling and Marketing Expenses	75.96M	60.41M	116M	163M	215M
General and Administrative Expenses	127M	195M	449M	330M	407M
Research And Development Expense From Footnotes	113M	182M	328M	416M	450M
Stock-Based Comp., R&D Exp. (Total)	20.07M	24.26M	-	-	-
Stock-Based Comp., S&M Exp. (Total)	1.83M	8.38M	45.6M	-	-
Stock-Based Comp., G&A Exp. (Total)	31.33M	101M	290M	112M	-
Stock-Based Comp., Other (Total)	-	-	70.87M	60.79M	290M
Total Stock-Based Compensation	53.23M	134M	407M	173M	290M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	606M	1.04B	1.55B	1.64B	1.34B
Short Term Investments	8.6M	5.89M	39M	13.68M	15.86M
Trading Asset Securities, Total	-	-	-	156M	104M
Total Cash And Short Term Investments	614M	1.05B	1.59B	1.81B	1.46B
Accounts Receivable, Total	121M	192M	365M	572M	672M
Other Receivables	8.64M	19.95M	26.86M	55.78M	155M
Total Receivables	129M	212M	392M	628M	827M
Inventory	32.33M	55.31M	71.72M	108M	131M
Restricted Cash	2.98M	1.49M	2.7M	9.92M	20.53M
Other Current Assets, Total	12.41M	5.42M	22.5M	127M	50.99M
Total Current Assets	791M	1.32B	2.08B	2.69B	2.49B
Gross Property Plant And Equipment	69.19M	95.63M	215M	236M	220M
Accumulated Depreciation	-8.52M	-24.3M	-48.47M	-78.76M	-97.52M
Net Property Plant And Equipment	60.68M	71.33M	166M	157M	122M
Long-term Investments	118K	106K	-	342K	9M
Goodwill	-	-	-	195M	327M
Other Intangibles, Total	810K	603K	5.67M	207M	327M
Other Long-Term Assets, Total	1.6M	1.32M	11.81M	24.77M	10.29M
Total Assets	855M	1.4B	2.26B	3.27B	3.29B
Liabilities
Accounts Payable, Total	64.83M	63.2M	228M	281M	354M
Accrued Expenses, Total	34.74M	62.5M	83.87M	159M	153M
Short-term Borrowings	-	-	-	77.49M	91.75M
Current Portion of Leases	4.63M	5.23M	9.28M	19.96M	23.07M
Current Income Taxes Payable	303K	-	208K	3.06M	664K
Unearned Revenue Current, Total	22.22M	38.54M	43.65M	105M	122M
Other Current Liabilities	2.17M	23.23M	-	78.46M	122M
Total Current Liabilities	129M	193M	365M	723M	865M
Long-Term Debt	827M	1.66B	-	-	-
Long-Term Leases	6.6M	9.46M	78.29M	70.15M	56.67M
Unearned Revenue Non Current	55.39M	48.46M	26.58M	15.52M	6.64M
Deferred Tax Liability Non Current	-	-	-	27.32M	40.68M
Other Non Current Liabilities	-	-	-	73.17M	95.56M
Total Liabilities	1.02B	1.91B	470M	909M	1.07B
Common Stock, Total	-	-	515M	559M	565M
Additional Paid In Capital	20.87M	24.1M	1.67B	2.56B	2.63B
Retained Earnings	-315M	-676M	-903M	-1.27B	-1.85B
Treasury Stock	-	-	-	-259M	-264M
Comprehensive Income and Other	122M	134M	498M	672M	949M
Total Common Equity	-172M	-518M	1.79B	2.27B	2.03B
Minority Interest	8.76M	3.88M	10.26M	89.55M	191M
Total Equity	-163M	-514M	1.8B	2.36B	2.22B
Total Liabilities And Equity	855M	1.4B	2.26B	3.27B	3.29B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	223M	251M	515M	546M	550M
ECS Total Common Shares Outstanding	223M	251M	515M	546M	550M
Book Value / Share	-0.77	-2.07	3.47	4.16	3.7
Tangible Book Value	-173M	-519M	1.78B	1.87B	1.38B
Tangible Book Value Per Share	-0.77	-2.07	3.46	3.42	2.51
Total Debt	838M	1.67B	87.57M	168M	171M
Net Debt	224M	626M	-1.5B	-1.64B	-1.29B
Minority Interest, Total (Incl. Fin. Div)	8.76M	3.88M	10.26M	89.55M	191M
Equity Method Investments, Total	-	-	-	342K	-
Account Code - Inventory Valuation	-	6	3	3	3
Inventories - Raw Materials, Total	-	1.07M	11.57M	26.37M	32.86M
Inventories - Work In Process, Total	32.16M	47.66M	57.39M	81.4M	96.3M
Inventories - Finished Goods, Total	164K	6.59M	2.76M	1.56M	2.99M
Buildings, Total	-	-	-	1.08M	1.08M
Machinery, Total	6.44M	14.81M	21.34M	41.74M	37.55M
Full Time Employees	-	-	457	728	1.05K
Accumulated Allowance for Doubtful Accounts (Supple)	6.35M	25.28M	49.34M	88.43M	169M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-244M	-361M	-637M	-363M	-582M
Depreciation & Amortization - CF	10.82M	22.64M	33.48M	53.19M	54.94M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	9.91M	25.43M
Depreciation & Amortization, Total	10.82M	22.64M	33.48M	63.1M	80.37M
Amortization of Deferred Charges, Total - (CF)	207K	207K	700K	9.43M	12.2M
(Gain) Loss From Sale Of Asset	137K	3K	6K	334K	-1.85M
(Gain) Loss on Sale of Investments - (CF)	5.5M	18.95M	24.06M	45.74M	176M
(Income) Loss On Equity Investments - (CF)	-	-	-	575K	342K
Stock-Based Compensation (CF)	53.23M	134M	407M	173M	290M
Other Operating Activities, Total	30.62M	82.64M	36.64M	5.26M	9.35M
Change In Accounts Receivable	-110M	-87.61M	-196M	-133M	-168M
Change In Inventories	-29.28M	-22.98M	-16.41M	133M	-10.25M
Change In Accounts Payable	51.95M	-1.63M	165M	-34.61M	72.89M
Change in Unearned Revenues	7.66M	28.76M	5.21M	-152M	-349K
Change in Other Net Operating Assets	34.4M	12.08M	-58.89M	-51.77M	-59.37M
Cash from Operations	-189M	-174M	-237M	-304M	-180M
Capital Expenditure	-32.37M	-18.51M	-52M	-21.6M	-6.27M
Sale of Property, Plant, and Equipment	-	-	-	-	4K
Cash Acquisitions	-	-	-	-121M	-133M
Investment in Marketable and Equity Securities, Total	12.2M	-726K	128K	-151M	-31.47M
Other Investing Activities, Total	1.22M	-	4.88M	632K	-18.08M
Cash from Investing	-18.96M	-19.23M	-46.99M	-293M	-189M
Short Term Debt Issued, Total	-	-	-	60.01M	100M
Total Debt Issued	-	-	-	60.01M	100M
Short Term Debt Repaid, Total	-	-	-	-39.75M	-99.95M
Long-Term Debt Repaid, Total	-3.43M	-6.83M	-10.83M	-10.1M	-57.68M
Total Debt Repaid	-3.43M	-6.83M	-10.83M	-49.85M	-158M
Issuance of Common Stock	742M	751M	838M	957M	417M
Repurchase of Common Stock	-	-	-	-275M	-291M
Other Financing Activities, Total	382K	-114M	-27.49M	-6.82M	7.81M
Cash from Financing	739M	630M	800M	686M	75.83M
Foreign Exchange Rate Adjustments	-	-	-5.75M	937K	-4.85M
Net Change in Cash	531M	437M	511M	89.52M	-298M
Supplemental Items
Cash Interest Paid	-	-	-	2.46M	2.62M
Cash Income Tax Paid (Refund)	29K	1.01M	2M	-1.03M	3.37M
Levered Free Cash Flow	-206M	-149M	-69.11M	-133M	20.81M
Unlevered Free Cash Flow	-184M	-96.76M	-46.55M	-128M	26.17M
Change In Net Working Capital	59.76M	33.75M	46.97M	113M	31.4M
Net Debt Issued / Repaid	-3.43M	-6.83M	-10.83M	10.16M	-57.53M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-30.87	-17.87	-21.24	-8.64	-9.73
Return on Total Capital	-41.31	-21.92	-25.55	-10.84	-12.96
Return On Equity %	354.43	106.51	-99.14	-17.39	-24.89
Return on Common Equity	320.53	104.66	-100.48	-17.91	-27.07
Margin Analysis
Gross Profit Margin %	31.25	29.12	31.03	32.55	33.61
SG&A Margin	88.52	55.28	65.65	31.6	35.47
EBITDA Margin %	-105.55	-66.18	-69.41	-21.91	-25.98
EBITA Margin %	-109.13	-69.59	-72.22	-23.92	-27.7
EBIT Margin %	-109.13	-69.59	-72.22	-24.55	-29.15
Income From Continuing Operations Margin %	-108.39	-78	-73.75	-23.19	-32.57
Net Income Margin %	-106.58	-78.08	-73.92	-23.31	-33.26
Net Avail. For Common Margin %	-106.58	-78.08	-73.92	-23.31	-33.26
Normalized Net Income Margin	-73.22	-53.53	-46.25	-14.01	-18.24
Levered Free Cash Flow Margin	-90.08	-32.16	-8.03	-8.55	1.19
Unlevered Free Cash Flow Margin	-80.37	-20.93	-5.41	-8.23	1.49
Asset Turnover
Asset Turnover	0.45	0.41	0.47	0.56	0.53
Fixed Assets Turnover	4.98	7	7.25	9.64	12.54
Receivables Turnover (Average Receivables)	3.35	2.96	3.09	3.32	2.82
Inventory Turnover (Average Inventory)	8.91	7.48	9.35	11.71	9.75
Short Term Liquidity
Current Ratio	6.14	6.86	5.71	3.71	2.88
Quick Ratio	5.77	6.54	5.44	3.37	2.65
Operating Cash Flow to Current Liabilities	-1.47	-0.9	-0.65	-0.42	-0.21
Days Sales Outstanding (Average Receivables)	109.1	123.74	118.06	109.8	129.6
Days Outstanding Inventory (Average Inventory)	40.98	48.94	39.03	31.18	37.42
Average Days Payable Outstanding	75.92	66.81	86.99	85.38	97.61
Cash Conversion Cycle (Average Days)	74.16	105.87	70.1	55.6	69.41
Long Term Solvency
Total Debt/Equity	-513.61	-325.65	4.88	7.1	7.71
Total Debt / Total Capital	124.18	144.32	4.65	6.63	7.16
LT Debt/Equity	-510.77	-324.63	4.36	2.97	2.55
Long-Term Debt / Total Capital	123.49	143.87	4.16	2.78	2.37
Total Liabilities / Total Assets	119.09	136.83	20.73	27.83	32.38
EBIT / Interest Expense	-7.02	-3.87	-17.23	-47.28	-59.54
EBITDA / Interest Expense	-6.72	-3.6	-16.3	-39.48	-50.16
(EBITDA - Capex) / Interest Expense	-7.63	-3.82	-17.74	-42.15	-50.89
Total Debt / EBITDA	-3.5	-5.6	-0.15	-0.52	-0.4
Net Debt / EBITDA	-0.94	-2.09	2.56	5.15	3.01
Total Debt / (EBITDA - Capex)	-3.09	-5.27	-0.14	-0.49	-0.39
Net Debt / (EBITDA - Capex)	-0.82	-1.97	2.35	4.82	2.96
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	464.52	101.76	86.27	80.88	12.42
Gross Profit, 1 Yr. Growth %	180.72	87.98	98.51	89.75	16.05
EBITDA, 1 Yr. Growth %	190.9	26.5	120.57	-42.91	33.3
EBITA, 1 Yr. Growth %	199.5	28.67	116.87	-40.1	30.18
EBIT, 1 Yr. Growth %	199.5	28.67	116.87	-38.51	33.45
Earnings From Cont. Operations, 1 Yr. Growth %	219.87	45.21	76.11	-43.14	57.9
Net Income, 1 Yr. Growth %	216.83	47.81	76.34	-42.97	60.4
Normalized Net Income, 1 Yr. Growth %	218.82	47.52	76.51	-45.2	46.32
Diluted EPS Before Extra, 1 Yr. Growth %	160.8	36.52	-4.14	-53.93	58.8
Accounts Receivable, 1 Yr. Growth %	643.41	58.92	90.34	56.61	17.42
Inventory, 1 Yr. Growth %	962.34	71.1	29.67	50.26	21.21
Net Property, Plant and Equip., 1 Yr. Growth %	93.47	17.56	133.12	-5.56	-22.19
Total Assets, 1 Yr. Growth %	440.13	63.34	62.27	44.31	0.63
Tangible Book Value, 1 Yr. Growth %	-1.03K	200.19	-443.17	5	-26.19
Common Equity, 1 Yr. Growth %	-980.2	201.25	-444.66