Income Statement 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

5ddc416f03c0baf3d.0Lr5UqpuLoJgIsbs-sRVSioR3PNplha7XX4zpiKrjak.iYyYK-IAY8QHfbGGyJMPO25prYME_EaODyh23FvK2fa58clqx0MD1StY9g

Published financial data: AINNOVATION TECHNOLOGY GROUP CO., LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	23Cr	46Cr	86Cr	155.76Cr	175.1Cr
Total Revenues	23Cr	46Cr	86Cr	155.76Cr	175.1Cr
Cost of Goods Sold, Total	16Cr	33Cr	59Cr	105.06Cr	116.26Cr
Gross Profit	7.16Cr	13Cr	27Cr	51Cr	59Cr
Selling General & Admin Expenses, Total	20Cr	26Cr	57Cr	49Cr	62Cr
Provision for Bad Debts	54.96L	1.9Cr	2.41Cr	3.75Cr	8.53Cr
R&D Expenses	11Cr	18Cr	33Cr	42Cr	45Cr
Other Operating Expenses	46T	3L	-2.79Cr	-5.65Cr	-5.74Cr
Other Operating Expenses, Total	32Cr	46Cr	89Cr	89Cr	109.89Cr
Operating Income	-25Cr	-32Cr	-62Cr	-38Cr	-51Cr
Interest Expense, Total	-3.56Cr	-8.31Cr	-3.61Cr	-80.89L	-85.73L
Interest And Investment Income	1.06Cr	94.49L	2.89Cr	3.93Cr	3.29Cr
Net Interest Expenses	-2.5Cr	-7.37Cr	-71.92L	3.13Cr	2.43Cr
Income (Loss) On Equity Invest.	-	-	-	-6L	-3L
Currency Exchange Gains (Loss)	-	-	-57.5L	50.46L	-52.73L
Other Non Operating Income (Expenses)	-	-	-	5L	-
EBT, Excl. Unusual Items	-28Cr	-40Cr	-63Cr	-35Cr	-49Cr
Gain (Loss) On Sale Of Investments	-	-	-	-87.16L	-8.97Cr
Gain (Loss) On Sale Of Assets	-1L	-3T	-	-3L	18.51L
Other Unusual Items	2.71Cr	3.5Cr	-	-64L	-
EBT, Incl. Unusual Items	-25Cr	-36Cr	-63Cr	-36Cr	-58Cr
Income Tax Expense	3L	2L	2L	-5L	-92.63L
Earnings From Continuing Operations	-25Cr	-36Cr	-64Cr	-36Cr	-57Cr
Net Income to Company	-25Cr	-36Cr	-64Cr	-36Cr	-57Cr
Minority Interest	41.32L	-4L	-14.75L	-18.82L	-1.21Cr
Net Income - (IS)	-24Cr	-36Cr	-64Cr	-36Cr	-58Cr
Net Income to Common Incl Extra Items	-24Cr	-36Cr	-64Cr	-36Cr	-58Cr
Net Income to Common Excl. Extra Items	-24Cr	-36Cr	-64Cr	-36Cr	-58Cr
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	22Cr	24Cr	44Cr	55Cr	56Cr
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	22Cr	24Cr	44Cr	55Cr	56Cr
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	-24Cr	-31Cr	-60Cr	-34Cr	-45Cr
EBITA	-25Cr	-32Cr	-62Cr	-37Cr	-48Cr
EBIT	-25Cr	-32Cr	-62Cr	-38Cr	-51Cr
Effective Tax Rate - (Ratio)	-0.12	-0.05	-0.03	0.14	1.6
Current Domestic Taxes	3L	2L	2L	-	-
Total Current Taxes	3L	2L	2L	36.67L	8L
Total Deferred Taxes	-	-	-	-41.79L	-1.01Cr
Normalized Net Income	-17Cr	-25Cr	-40Cr	-22Cr	-32Cr
Interest on Long-Term Debt	3.56Cr	8.31Cr	3.61Cr	56.27L	57.31L
Supplemental Operating Expense Items
Marketing Expenses	4.64Cr	79.84L	83.21L	1.83Cr	3.7Cr
Selling and Marketing Expenses	7.6Cr	6.04Cr	12Cr	16Cr	21Cr
General and Administrative Expenses	13Cr	20Cr	45Cr	33Cr	41Cr
Research And Development Expense From Footnotes	11Cr	18Cr	33Cr	42Cr	45Cr
Stock-Based Comp., R&D Exp. (Total)	2.01Cr	2.43Cr	-	-	-
Stock-Based Comp., S&M Exp. (Total)	18.31L	83.78L	4.56Cr	-	-
Stock-Based Comp., G&A Exp. (Total)	3.13Cr	10Cr	29Cr	11Cr	-
Stock-Based Comp., Other (Total)	-	-	7.09Cr	6.08Cr	29Cr
Total Stock-Based Compensation	5.32Cr	13Cr	41Cr	17Cr	29Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	61Cr	104.25Cr	155.32Cr	164.27Cr	134.46Cr
Short Term Investments	85.96L	58.92L	3.9Cr	1.37Cr	1.59Cr
Trading Asset Securities, Total	-	-	-	16Cr	10Cr
Total Cash And Short Term Investments	61Cr	104.84Cr	159.21Cr	181.24Cr	146.43Cr
Accounts Receivable, Total	12Cr	19Cr	37Cr	57Cr	67Cr
Other Receivables	86.35L	2Cr	2.69Cr	5.58Cr	16Cr
Total Receivables	13Cr	21Cr	39Cr	63Cr	83Cr
Inventory	3.23Cr	5.53Cr	7.17Cr	11Cr	13Cr
Restricted Cash	29.79L	14.91L	26.97L	99.15L	2.05Cr
Other Current Assets, Total	1.24Cr	54.22L	2.25Cr	13Cr	5.1Cr
Total Current Assets	79Cr	132.24Cr	208.11Cr	268.51Cr	249.33Cr
Gross Property Plant And Equipment	6.92Cr	9.56Cr	21Cr	24Cr	22Cr
Accumulated Depreciation	-85.15L	-2.43Cr	-4.85Cr	-7.88Cr	-9.75Cr
Net Property Plant And Equipment	6.07Cr	7.13Cr	17Cr	16Cr	12Cr
Long-term Investments	1L	1L	-	3L	90L
Goodwill	-	-	-	19Cr	33Cr
Other Intangibles, Total	8L	6L	56.72L	21Cr	33Cr
Other Long-Term Assets, Total	15.99L	13.22L	1.18Cr	2.48Cr	1.03Cr
Total Assets	85Cr	139.58Cr	226.49Cr	326.84Cr	328.92Cr
Liabilities
Accounts Payable, Total	6.48Cr	6.32Cr	23Cr	28Cr	35Cr
Accrued Expenses, Total	3.47Cr	6.25Cr	8.39Cr	16Cr	15Cr
Short-term Borrowings	-	-	-	7.75Cr	9.18Cr
Current Portion of Leases	46.33L	52.33L	92.82L	2Cr	2.31Cr
Current Income Taxes Payable	3L	-	2L	30.56L	7L
Unearned Revenue Current, Total	2.22Cr	3.85Cr	4.36Cr	11Cr	12Cr
Other Current Liabilities	21.67L	2.32Cr	-	7.85Cr	12Cr
Total Current Liabilities	13Cr	19Cr	36Cr	72Cr	87Cr
Long-Term Debt	83Cr	165.92Cr	-	-	-
Long-Term Leases	65.95L	94.57L	7.83Cr	7.02Cr	5.67Cr
Unearned Revenue Non Current	5.54Cr	4.85Cr	2.66Cr	1.55Cr	66.36L
Deferred Tax Liability Non Current	-	-	-	2.73Cr	4.07Cr
Other Non Current Liabilities	-	-	-	7.32Cr	9.56Cr
Total Liabilities	101.77Cr	190.98Cr	47Cr	91Cr	106.5Cr
Common Stock, Total	-	-	51Cr	56Cr	57Cr
Additional Paid In Capital	2.09Cr	2.41Cr	167.49Cr	256.3Cr	263.16Cr
Retained Earnings	-31Cr	-68Cr	-90Cr	-126.59Cr	-184.83Cr
Treasury Stock	-	-	-	-26Cr	-26Cr
Comprehensive Income and Other	12Cr	13Cr	50Cr	67Cr	95Cr
Total Common Equity	-17Cr	-52Cr	178.5Cr	226.94Cr	203.33Cr
Minority Interest	87.55L	38.85L	1.03Cr	8.95Cr	19Cr
Total Equity	-16Cr	-51Cr	179.53Cr	235.9Cr	222.41Cr
Total Liabilities And Equity	85Cr	139.58Cr	226.49Cr	326.84Cr	328.92Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	22Cr	25Cr	51Cr	55Cr	55Cr
ECS Total Common Shares Outstanding	22Cr	25Cr	51Cr	55Cr	55Cr
Book Value / Share	-0.77	-2.07	3.47	4.16	3.7
Tangible Book Value	-17Cr	-52Cr	177.94Cr	186.83Cr	137.89Cr
Tangible Book Value Per Share	-0.77	-2.07	3.46	3.42	2.51
Total Debt	84Cr	167.39Cr	8.76Cr	17Cr	17Cr
Net Debt	22Cr	63Cr	-150.46Cr	-164.48Cr	-129.28Cr
Minority Interest, Total (Incl. Fin. Div)	87.55L	38.85L	1.03Cr	8.95Cr	19Cr
Equity Method Investments, Total	-	-	-	3L	-
Account Code - Inventory Valuation	-	6	3	3	3
Inventories - Raw Materials, Total	-	10.66L	1.16Cr	2.64Cr	3.29Cr
Inventories - Work In Process, Total	3.22Cr	4.77Cr	5.74Cr	8.14Cr	9.63Cr
Inventories - Finished Goods, Total	2L	65.86L	27.62L	15.55L	29.94L
Buildings, Total	-	-	-	10.78L	10.78L
Machinery, Total	64.38L	1.48Cr	2.13Cr	4.17Cr	3.76Cr
Full Time Employees	-	-	457	728	1.05T
Accumulated Allowance for Doubtful Accounts (Supple)	63.51L	2.53Cr	4.93Cr	8.84Cr	17Cr

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-24Cr	-36Cr	-64Cr	-36Cr	-58Cr
Depreciation & Amortization - CF	1.08Cr	2.26Cr	3.35Cr	5.32Cr	5.49Cr
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	99.11L	2.54Cr
Depreciation & Amortization, Total	1.08Cr	2.26Cr	3.35Cr	6.31Cr	8.04Cr
Amortization of Deferred Charges, Total - (CF)	2L	2L	7L	94.3L	1.22Cr
(Gain) Loss From Sale Of Asset	1L	3T	6T	3L	-18.51L
(Gain) Loss on Sale of Investments - (CF)	54.96L	1.9Cr	2.41Cr	4.57Cr	18Cr
(Income) Loss On Equity Investments - (CF)	-	-	-	6L	3L
Stock-Based Compensation (CF)	5.32Cr	13Cr	41Cr	17Cr	29Cr
Other Operating Activities, Total	3.06Cr	8.26Cr	3.66Cr	52.6L	93.49L
Change In Accounts Receivable	-11Cr	-8.76Cr	-20Cr	-13Cr	-17Cr
Change In Inventories	-2.93Cr	-2.3Cr	-1.64Cr	13Cr	-1.02Cr
Change In Accounts Payable	5.19Cr	-16.29L	16Cr	-3.46Cr	7.29Cr
Change in Unearned Revenues	76.56L	2.88Cr	52.09L	-15Cr	-3L
Change in Other Net Operating Assets	3.44Cr	1.21Cr	-5.89Cr	-5.18Cr	-5.94Cr
Cash from Operations	-19Cr	-17Cr	-24Cr	-30Cr	-18Cr
Capital Expenditure	-3.24Cr	-1.85Cr	-5.2Cr	-2.16Cr	-62.7L
Sale of Property, Plant, and Equipment	-	-	-	-	4T
Cash Acquisitions	-	-	-	-12Cr	-13Cr
Investment in Marketable and Equity Securities, Total	1.22Cr	-7L	1L	-15Cr	-3.15Cr
Other Investing Activities, Total	12.19L	-	48.83L	6L	-1.81Cr
Cash from Investing	-1.9Cr	-1.92Cr	-4.7Cr	-29Cr	-19Cr
Short Term Debt Issued, Total	-	-	-	6Cr	10Cr
Total Debt Issued	-	-	-	6Cr	10Cr
Short Term Debt Repaid, Total	-	-	-	-3.98Cr	-9.99Cr
Long-Term Debt Repaid, Total	-34.31L	-68.32L	-1.08Cr	-1.01Cr	-5.77Cr
Total Debt Repaid	-34.31L	-68.32L	-1.08Cr	-4.98Cr	-16Cr
Issuance of Common Stock	74Cr	75Cr	84Cr	96Cr	42Cr
Repurchase of Common Stock	-	-	-	-28Cr	-29Cr
Other Financing Activities, Total	4L	-11Cr	-2.75Cr	-68.2L	78.12L
Cash from Financing	74Cr	63Cr	80Cr	69Cr	7.58Cr
Foreign Exchange Rate Adjustments	-	-	-57.5L	9L	-48.53L
Net Change in Cash	53Cr	44Cr	51Cr	8.95Cr	-30Cr
Supplemental Items
Cash Interest Paid	-	-	-	24.62L	26.24L
Cash Income Tax Paid (Refund)	29T	10.11L	20.04L	-10.34L	33.69L
Levered Free Cash Flow	-21Cr	-15Cr	-6.91Cr	-13Cr	2.08Cr
Unlevered Free Cash Flow	-18Cr	-9.68Cr	-4.65Cr	-13Cr	2.62Cr
Change In Net Working Capital	5.98Cr	3.38Cr	4.7Cr	11Cr	3.14Cr
Net Debt Issued / Repaid	-34.31L	-68.32L	-1.08Cr	1.02Cr	-5.75Cr

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 %	-1.03T	200.19	-443.17	5	-26.19
Common Equity, 1 Yr. Growth %	-980.2	201.25