Balance Sheet Changchun BCHT Biotechnology Co.

Equities

688276

CNE100005XY6

Pharmaceuticals

End-of-day quote Shanghai S.E. Other stock markets 2026-01-23			5-day change	1st Jan Change
20.61 ^CNY	+1.03%		+2.03%	+9.28%

11-13	BCHT Biotechnology Gets Nod to Trial Vaccines Against Pertussis, Diphtheria, Tetanus	MT
25-10-30	Changchun BCHT Biotechnology Co. Reports Earnings Results for the Nine Months Ended September 30, 2025	CI

07f657a8718dbbd415d86968b17bc.XCiBHREaWgsA0TjImI9wp7gdxSpEMH2w6QbuLZTkl3k.DGK5LCJ-Dz5hv3eR7MwcxNIul04wWzuGq1PfWfHJ0B1tfuJ5dFIMb2uXSw

Published financial data: CHANGCHUN BCHT BIOTECHNOLOGY CO.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.44B	1.2B	1.07B	1.82B	1.23B
Other Revenues, Total	1.36M	746K	46.54K	136K	-
Total Revenues	1.44B	1.2B	1.07B	1.82B	1.23B
Cost of Goods Sold, Total	176M	229M	182M	210M	206M
Gross Profit	1.27B	973M	890M	1.61B	1.02B
Selling General & Admin Expenses, Total	689M	556M	553M	801M	583M
Provision for Bad Debts	-614K	10.77M	33.63M	60.33M	23.48M
R&D Expenses	93.36M	157M	134M	198M	156M
Other Operating Expenses	10.67M	10.58M	9.7M	13.04M	9.83M
Other Operating Expenses, Total	793M	734M	730M	1.07B	772M
Operating Income	472M	239M	160M	542M	251M
Interest Expense, Total	-4.05M	-329K	-	-705K	-1.52M
Interest And Investment Income	7.34M	11.78M	18.4M	12.44M	4.6M
Net Interest Expenses	3.29M	11.45M	18.4M	11.74M	3.08M
Income (Loss) On Equity Invest.	-	-	308K	690K	-440K
Currency Exchange Gains (Loss)	-222K	-136K	1.86M	669K	868K
Other Non Operating Income (Expenses)	-157K	-164K	-152K	-208K	-248K
EBT, Excl. Unusual Items	475M	251M	180M	555M	254M
Gain (Loss) On Sale Of Investments	-	-1.02M	-	-	-
Gain (Loss) On Sale Of Assets	-	76	-726K	-902K	-2.55M
Asset Writedown	-48.93K	-2.19M	-	-	-778K
Insurance Settlements	-	-	-	6.9M	698K
Other Unusual Items	11.61M	14.2M	18.07M	2.91M	4.41M
EBT, Incl. Unusual Items	487M	262M	198M	564M	256M
Income Tax Expense	68.42M	18.01M	16.16M	62.75M	23.68M
Earnings From Continuing Operations	418M	244M	182M	501M	232M
Net Income to Company	418M	244M	182M	501M	232M
Net Income - (IS)	418M	244M	182M	501M	232M
Net Income to Common Incl Extra Items	418M	244M	182M	501M	232M
Net Income to Common Excl. Extra Items	418M	244M	182M	501M	232M
Per Share Items
Net EPS - Basic	1.14	0.62	0.44	1.21	0.56
Basic EPS - Continuing Operations	1.14	0.62	0.44	1.21	0.56
Basic Weighted Average Shares Outstanding	367M	393M	413M	414M	414M
Net EPS - Diluted	1.14	0.62	0.44	1.21	0.56
Diluted EPS - Continuing Operations	1.14	0.62	0.44	1.21	0.56
Diluted Weighted Average Shares Outstanding	367M	393M	413M	414M	414M
Normalized Basic EPS	0.81	0.4	0.27	0.84	0.38
Normalized Diluted EPS	0.81	0.4	0.27	0.84	0.38
Dividend Per Share	-	0.1	0.15	0.15	0.17
Payout Ratio	-	-	22.74	12.5	26.73
Supplemental Items
EBITDA	531M	308M	231M	634M	355M
EBITA	490M	265M	186M	581M	294M
EBIT	472M	239M	160M	542M	251M
EBITDAR	532M	-	232M	635M	357M
Total Revenues (As Reported)	-	1.2B	1.07B	1.82B	1.23B
Effective Tax Rate - (Ratio)	14.06	6.89	8.17	11.13	9.26
Total Current Taxes	80.33M	27.97M	36.4M	98.15M	27.65M
Total Deferred Taxes	-11.92M	-9.95M	-20.24M	-35.4M	-3.97M
Normalized Net Income	297M	157M	113M	347M	159M
Interest Capitalized	-	-	-	-	809K
Supplemental Operating Expense Items
Advertising Expense	540M	412M	371M	569M	436M
Selling and Marketing Expenses	578M	453M	412M	647M	478M
General and Administrative Expenses	112M	103M	141M	154M	105M
Research And Development Expense From Footnotes	93.36M	157M	134M	209M	188M
Net Rental Expense, Total	1.32M	-	1.47M	1.47M	2.11M
Imputed Operating Lease Interest Expense	-	-	-	-	637K
Imputed Operating Lease Depreciation	-	-	-	-	1.47M
Maintenance & Repair Expenses, Total	7.84M	5.55M	3.36M	5.58M	5.06M
Stock-Based Comp., COGS (Total)	-	-	-	-	-292K
Stock-Based Comp., R&D Exp. (Total)	-	-	1.71M	8.98M	-79.9K
Stock-Based Comp., S&M Exp. (Total)	-	-	749K	4.69M	-277K
Stock-Based Comp., G&A Exp. (Total)	-	-	2.87M	18.58M	-1.56M
Stock-Based Comp., Other (Total)	-	-	-	-	-446K
Total Stock-Based Compensation	-	-	5.32M	32.25M	-2.66M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	310M	1.16B	867M	442M	345M
Total Cash And Short Term Investments	310M	1.16B	867M	442M	345M
Accounts Receivable, Total	733M	764M	968M	1.57B	1.41B
Other Receivables	-	-	-	-	-
Total Receivables	733M	764M	968M	1.57B	1.41B
Inventory	146M	241M	192M	199M	171M
Prepaid Expenses	-	-	100K	924K	1.11M
Other Current Assets, Total	32.2M	29.15M	30.81M	35.26M	41.21M
Total Current Assets	1.22B	2.19B	2.06B	2.24B	1.96B
Gross Property Plant And Equipment	987M	1.68B	1.92B	2.42B	2.88B
Accumulated Depreciation	-204M	-241M	-280M	-330M	-402M
Net Property Plant And Equipment	783M	1.44B	1.64B	2.09B	2.48B
Long-term Investments	10.23M	69.12M	61.28M	208M	211M
Other Intangibles, Total	249M	224M	204M	347M	331M
Deferred Tax Assets Long-Term	20.96M	31.93M	54.2M	90.97M	96.28M
Deferred Charges Long-Term	122M	159M	211M	29.26M	74.68M
Other Long-Term Assets, Total	61.85M	61.95M	53.06M	41.06M	49.56M
Total Assets	2.47B	4.17B	4.28B	5.05B	5.2B
Liabilities
Accounts Payable, Total	34M	63.91M	24.8M	17.49M	13.81M
Accrued Expenses, Total	494M	423M	341M	553M	533M
Short-term Borrowings	-	-	-	20.47M	42.9M
Current Income Taxes Payable	18.24M	-	5.07M	48.89M	-
Unearned Revenue Current, Total	6.25M	10.21M	8.65M	283K	2.2M
Other Current Liabilities	127M	252M	337M	375M	325M
Total Current Liabilities	680M	749M	717M	1.01B	917M
Long-Term Debt	-	-	-	-	59.93M
Unearned Revenue Non Current	7.88M	8.09M	5.92M	9.86M	9M
Deferred Tax Liability Non Current	-	-	1.11M	981K	881K
Other Non Current Liabilities	-	253K	307K	173K	243K
Total Liabilities	688M	757M	724M	1.03B	987M
Common Stock, Total	372M	413M	413M	413M	414M
Additional Paid In Capital	416M	1.77B	1.78B	1.82B	1.84B
Retained Earnings	1.02B	1.24B	1.38B	1.82B	1.99B
Comprehensive Income and Other	-30.89M	-5.75M	-10.96M	-31.86M	-25.27M
Total Common Equity	1.78B	3.42B	3.56B	4.02B	4.22B
Total Equity	1.78B	3.42B	3.56B	4.02B	4.22B
Total Liabilities And Equity	2.47B	4.17B	4.28B	5.05B	5.2B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	372M	413M	413M	413M	414M
ECS Total Common Shares Outstanding	372M	413M	413M	413M	414M
Book Value / Share	4.79	8.28	8.62	9.74	10.2
Tangible Book Value	1.53B	3.19B	3.36B	3.67B	3.89B
Tangible Book Value Per Share	4.12	7.74	8.13	8.9	9.4
Total Debt	0	0	0	20.47M	103M
Net Debt	-310M	-1.16B	-867M	-422M	-242M
Debt Equivalent Oper. Leases	10.59M	-	11.73M	11.73M	16.87M
Equity Method Investments, Total	4.26M	35.88M	34.17M	34.86M	33.48M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	78.9M	148M	105M	81.68M	54.71M
Inventories - Work In Process, Total	27.24M	27.08M	43.44M	51.76M	33.82M
Inventories - Finished Goods, Total	40.05M	138M	85.22M	92.2M	116M
Buildings, Total	325M	308M	375M	488M	548M
Machinery, Total	426M	452M	510M	826M	946M
Full Time Employees	1.05K	1.23K	1.25K	1.24K	1.27K
Accumulated Allowance for Doubtful Accounts (Supple)	-	19.89M	28.75M	60.36M	66.17M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	418M	244M	182M	501M	232M
Depreciation & Amortization - CF	40.93M	43.05M	44.93M	53M	60.67M
Amortization of Goodwill and Intangible Assets - (CF)	17.93M	25.29M	26.01M	38.99M	43.51M
Depreciation & Amortization, Total	58.86M	68.34M	70.94M	91.99M	104M
Amortization of Deferred Charges, Total - (CF)	662K	987K	5.68M	7.01M	9.15M
(Gain) Loss From Sale Of Asset	-	-76	726K	902K	2.55M
(Gain) Loss on Sale of Investments - (CF)	-6.42M	1.02M	-308K	-690K	440K
Asset Writedown & Restructuring Costs	48.93K	2.19M	-	-	778K
Provision for Credit Losses	-627K	-	21.09M	28.65M	-
Provision and Write-off of Bad Debts	-	5.35M	12.54M	31.67M	6.13M
Other Operating Activities, Total	4.05M	88.01M	41.34M	27.31M	40.06M
Change In Accounts Receivable	-419M	-40.04M	-171M	-691M	122M
Change In Inventories	-59.72M	-166M	7.89M	-33.53M	20.66M
Change In Accounts Payable	225M	-51.67M	-109M	328M	-127M
Change In Deferred Taxes	-11.92M	-10.97M	-21.16M	-35.4M	-3.97M
Cash from Operations	209M	140M	39.82M	255M	407M
Capital Expenditure	-336M	-633M	-291M	-471M	-542M
Sale of Property, Plant, and Equipment	-	15K	-	36K	-
Investment in Marketable and Equity Securities, Total	0	-62.64M	-	-168M	-
Other Investing Activities, Total	2.16M	-	2.02M	-	941K
Cash from Investing	-334M	-696M	-289M	-639M	-541M
Short Term Debt Issued, Total	69.9M	67.5M	-	197M	-
Long-Term Debt Issued, Total	-	-	-	-	337M
Total Debt Issued	69.9M	67.5M	-	197M	337M
Short Term Debt Repaid, Total	-235M	-67.5M	-	-176M	-
Long-Term Debt Repaid, Total	-	-	-	-	-254M
Total Debt Repaid	-235M	-67.5M	-	-176M	-254M
Issuance of Common Stock	350M	1.41B	-	-	19M
Common Dividends Paid	-	-	-41.28M	-62.61M	-62.05M
Common & Preferred Stock Dividends Paid	-	-	-41.28M	-62.61M	-62.05M
Other Financing Activities, Total	-10.61M	-10.4M	-	-	-2.35M
Cash from Financing	174M	1.4B	-41.28M	-42.14M	36.97M
Foreign Exchange Rate Adjustments	-100K	-97.36K	1.66M	503K	705K
Net Change in Cash	49.86M	847M	-289M	-425M	-97.31M
Supplemental Items
Cash Interest Paid	4.05M	329K	-	705K	2.35M
Cash Income Tax Paid (Refund)	122M	103M	77.93M	121M	140M
Levered Free Cash Flow	-178M	-468M	-298M	-334M	-214M
Unlevered Free Cash Flow	-175M	-468M	-298M	-334M	-213M
Change In Net Working Capital	194M	53.78M	189M	333M	-62.44M
Net Debt Issued / Repaid	-165M	0	-	20.47M	82.36M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	14.57	4.51	2.36	7.26	3.06
Return on Total Capital	19.95	5.76	2.87	8.91	3.75
Return On Equity %	29.95	9.37	5.2	13.22	5.63
Return on Common Equity	29.95	9.37	5.2	13.22	5.63
Margin Analysis
Gross Profit Margin %	87.77	80.99	83.02	88.47	83.23
SG&A Margin	47.84	46.25	51.59	43.89	47.42
EBITDA Margin %	36.84	25.6	21.55	34.74	28.88
EBITA Margin %	34	22.02	17.35	31.84	23.94
EBIT Margin %	32.76	19.92	14.93	29.7	20.4
Income From Continuing Operations Margin %	29.02	20.26	16.94	27.46	18.88
Net Income Margin %	29.02	20.26	16.94	27.46	18.88
Net Avail. For Common Margin %	29.02	20.26	16.94	27.46	18.88
Normalized Net Income Margin	20.6	13.03	10.52	19	12.92
Levered Free Cash Flow Margin	-12.34	-38.93	-27.8	-18.33	-17.37
Unlevered Free Cash Flow Margin	-12.16	-38.91	-27.8	-18.3	-17.3
Asset Turnover
Asset Turnover	0.71	0.36	0.25	0.39	0.24
Fixed Assets Turnover	2.06	1.08	0.7	0.98	0.54
Receivables Turnover (Average Receivables)	2.71	1.6	1.24	1.44	0.83
Inventory Turnover (Average Inventory)	1.52	1.18	0.84	1.08	1.11
Short Term Liquidity
Current Ratio	1.8	2.93	2.87	2.21	2.14
Quick Ratio	1.53	2.56	2.56	1.98	1.91
Operating Cash Flow to Current Liabilities	0.31	0.19	0.06	0.25	0.44
Days Sales Outstanding (Average Receivables)	135.21	227.44	295.08	253.63	442.79
Days Outstanding Inventory (Average Inventory)	241.54	309.43	434.81	339.34	328.4
Average Days Payable Outstanding	39.2	55.2	122	35.52	32.21
Cash Conversion Cycle (Average Days)	337.55	481.67	607.89	557.44	738.98
Long Term Solvency
Total Debt/Equity	-	-	-	0.51	2.44
Total Debt / Total Capital	-	-	-	0.51	2.38
LT Debt/Equity	-	-	-	-	1.42
Long-Term Debt / Total Capital	-	-	-	-	1.39
Total Liabilities / Total Assets	27.86	18.13	16.9	20.33	18.97
EBIT / Interest Expense	116.59	728.25	-	768.77	165.1
EBITDA / Interest Expense	131.13	936.1	-	899.25	233.69
(EBITDA - Capex) / Interest Expense	48.22	-988.88	-	231.61	-123.46
Total Debt / EBITDA	-	-	-	0.03	0.29
Net Debt / EBITDA	-0.58	-3.75	-3.75	-0.67	-0.68
Total Debt / (EBITDA - Capex)	-	-	-	0.13	-0.55
Net Debt / (EBITDA - Capex)	-1.59	3.55	14.48	-2.58	1.29
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	47.73	-16.6	-10.86	70.3	-32.64
Gross Profit, 1 Yr. Growth %	44.92	-23.05	-8.62	81.48	-36.63
EBITDA, 1 Yr. Growth %	63.6	-42.04	-24.98	174.59	-44.01
EBITA, 1 Yr. Growth %	71.49	-45.99	-29.76	212.43	-49.35
EBIT, 1 Yr. Growth %	67.54	-49.29	-33.2	238.87	-53.73
Earnings From Cont. Operations, 1 Yr. Growth %	89.23	-41.77	-25.46	175.98	-53.67
Net Income, 1 Yr. Growth %	89.23	-41.77	-25.46	175.98	-53.67
Normalized Net Income, 1 Yr. Growth %	73.37	-47.26	-27.73	207.66	-54.22
Diluted EPS Before Extra, 1 Yr. Growth %	86.89	-45.61	-29.03	175	-53.72
Accounts Receivable, 1 Yr. Growth %	121.68	4.2	26.77	61.84	-10.24
Inventory, 1 Yr. Growth %	69.06	65.08	-20.4	3.6	-14.19
Net Property, Plant and Equip., 1 Yr. Growth %	26.75	83.71	14.13	27	18.82
Total Assets, 1 Yr. Growth %	55.84	69.18	2.61	17.8	3.14
Tangible Book Value, 1 Yr. Growth %	63.21	108.56	5.06	9.46	5.83
Common Equity, 1 Yr. Growth %	75.7	92	4.15	12.95	4.91
Cash From Operations, 1 Yr. Growth %	-10.15	-32.92	-71.62	540.93	59.28
Capital Expenditures, 1 Yr. Growth %	161.5	88.5	-54.06	61.89	15.25
Levered Free Cash Flow, 1 Yr. Growth %	-314.17	163.03	-36.34	12.28	-36.14
Unlevered Free Cash Flow, 1 Yr. Growth %	-298.71	166.71	-36.31	12.13	-36.34
Dividend Per Share, 1 Yr. Growth %	-	-	50	0	12.67
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	18.94	11	-13.78	23.21	7.1
Gross Profit, 2 Yr. CAGR %	18.55	5.6	-16.15	28.78	7.24
EBITDA, 2 Yr. CAGR %	68.43	-2.63	-34.06	43.52	23.99
EBITA, 2 Yr. CAGR %	76.82	-3.76	-38.41	48.14	25.8
EBIT, 2 Yr. CAGR %	74.31	-7.83	-41.8	50.45	25.21
Earnings From Cont. Operations, 2 Yr. CAGR %	80.72	4.97	-34.12	43.43	13.07
Net Income, 2 Yr. CAGR %	80.72	4.97	-34.12	43.43	13.07
Normalized Net Income, 2 Yr. CAGR %	80.64	-4.38	-38.39	49.11	18.68
Diluted EPS Before Extra, 2 Yr. CAGR %	77.95	0.82	-37.87	39.7	12.82
Accounts Receivable, 2 Yr. CAGR %	63.04	51.98	14.93	43.23	20.52
Inventory, 2 Yr. CAGR %	21.57	67.06	14.63	-9.19	-5.72
Net Property, Plant and Equip., 2 Yr. CAGR %	15.77	52.6	44.8	20.4	22.84
Total Assets, 2 Yr. CAGR %	32.27	62.38	31.76	9.94	10.23
Tangible Book Value, 2 Yr. CAGR %	42.63	84.5	48.03	7.24	7.63
Common Equity, 2 Yr. CAGR %	49.2	83.67	41.41	8.46	8.85
Cash From Operations, 2 Yr. CAGR %	-11.95	-22.37	-56.37	34.87	219.51
Capital Expenditures, 2 Yr. CAGR %	36.14	122.02	-6.95	-13.76	36.59
Levered Free Cash Flow, 2 Yr. CAGR %	-	137.38	29.4	-15.46	-15.33
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	130.25	30.33	-15.49	-15.52
Dividend Per Share, 2 Yr. CAGR %	-	-	-	22.47	6.14
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	5.66	3.17	8.18	0.74
Gross Profit, 3 Yr. CAGR %	-	2.65	0.63	8.47	1.67
EBITDA, 3 Yr. CAGR %	-	18.02	-10.74	6.08	4.87
EBITA, 3 Yr. CAGR %	-	19.08	-13.35	5.83	3.59
EBIT, 3 Yr. CAGR %	-	15.5	-17.21	4.7	1.55
Earnings From Cont. Operations, 3 Yr. CAGR %	-	23.9	-6.35	6.2	-1.59
Net Income, 3 Yr. CAGR %	-	23.9	-6.35	6.2	-1.59
Normalized Net Income, 3 Yr. CAGR %	-	19.84	-13.02	5.31	0.59
Diluted EPS Before Extra, 3 Yr. CAGR %	-	19.87	-10.32	2.01	-3.34
Accounts Receivable, 3 Yr. CAGR %	-	40.43	43.06	28.82	22.57
Inventory, 3 Yr. CAGR %	-	34.62	30.48	10.83	-10.89
Net Property, Plant and Equip., 3 Yr. CAGR %	-	35.04	38.52	38.61	19.87
Total Assets, 3 Yr. CAGR %	-	43.58	39.34	26.93	7.63
Tangible Book Value, 3 Yr. CAGR %	-	61.89	52.92	33.86	6.77
Common Equity, 3 Yr. CAGR %	-	62.29	52.03	31.21	7.26
Cash From Operations, 3 Yr. CAGR %	-	-19.58	-44.49	6.86	42.56
Capital Expenditures, 3 Yr. CAGR %	-	51.74	31.32	11.92	-5.01
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	53.08	23.42	-23.01
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	50.02	23.96	-23.11
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	19.11
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	12.36	4.73
Gross Profit, 5 Yr. CAGR %	-	-	-	12.39	3.22
EBITDA, 5 Yr. CAGR %	-	-	-	27.63	1.8
EBITA, 5 Yr. CAGR %	-	-	-	29.95	0.59
EBIT, 5 Yr. CAGR %	-	-	-	28.38	-2.31
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	31.37	0.98
Net Income, 5 Yr. CAGR %	-	-	-	31.37	0.98
Normalized Net Income, 5 Yr. CAGR %	-	-	-	30.68	-1.51
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	27.44	-1.7
Accounts Receivable, 5 Yr. CAGR %	-	-	-	41.55	33.58
Inventory, 5 Yr. CAGR %	-	-	-	15.01	14.58
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	28.98	32.02
Total Assets, 5 Yr. CAGR %	-	-	-	29.04	26.87
Tangible Book Value, 5 Yr. CAGR %	-	-	-	37.3	32.88
Common Equity, 5 Yr. CAGR %	-	-	-	38.13	33.01
Cash From Operations, 5 Yr. CAGR %	-	-	-	-1.11	11.79
Capital Expenditures, 5 Yr. CAGR %	-	-	-	21.04	33.4
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	20.79
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	19.23