Income Statement Changchun BCHT Biotechnology Co.

Equities

688276

CNE100005XY6

Pharmaceuticals

End-of-day quote Shanghai S.E. Other stock markets 2025-01-24			5-day change	1st Jan Change
22.54 ^CNY	-1.49%		-2.55%	-10.23%

10-25	Changchun BCHT Biotechnology Co. Reports Earnings Results for the Nine Months Ended September 30, 2024	CI
08-16	Changchun BCHT Biotechnology H1 Profit Up 24%, Operating Income Rises 11%	MT

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Published financial data: CHANGCHUN BCHT BIOTECHNOLOGY CO.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	974M	1.44B	1.2B	1.07B	1.82B
Other Revenues, Total	1.27M	1.36M	746K	46.54K	136K
Total Revenues	976M	1.44B	1.2B	1.07B	1.82B
Cost of Goods Sold, Total	103M	176M	229M	182M	210M
Gross Profit	873M	1.27B	973M	890M	1.61B
Selling General & Admin Expenses, Total	524M	689M	556M	553M	801M
Provision for Bad Debts	-5.6M	-614K	10.77M	33.63M	60.33M
R&D Expenses	65.16M	93.36M	157M	134M	198M
Other Operating Expenses	7.93M	10.67M	10.58M	9.7M	13.04M
Other Operating Expenses, Total	591M	793M	734M	730M	1.07B
Operating Income	282M	472M	239M	160M	542M
Interest Expense, Total	-8.3M	-4.05M	-329K	-	-705K
Interest And Investment Income	493K	7.34M	11.78M	18.4M	12.44M
Net Interest Expenses	-7.81M	3.29M	11.45M	18.4M	11.74M
Income (Loss) On Equity Invest.	-	-	-	308K	690K
Currency Exchange Gains (Loss)	117K	-222K	-136K	1.86M	669K
Other Non Operating Income (Expenses)	-98.92K	-157K	-164K	-152K	-208K
EBT, Excl. Unusual Items	274M	475M	251M	180M	555M
Gain (Loss) On Sale Of Investments	-13.9M	-	-1.02M	-	-
Gain (Loss) On Sale Of Assets	15.34M	-	76	-726K	-902K
Asset Writedown	-9.82M	-48.93K	-2.19M	-	-
Insurance Settlements	-	-	-	-	6.9M
Other Unusual Items	-1.82M	11.61M	14.2M	18.07M	2.91M
EBT, Incl. Unusual Items	264M	487M	262M	198M	564M
Income Tax Expense	42.81M	68.42M	18.01M	16.16M	62.75M
Earnings From Continuing Operations	221M	418M	244M	182M	501M
Net Income to Company	221M	418M	244M	182M	501M
Net Income - (IS)	221M	418M	244M	182M	501M
Net Income to Common Incl Extra Items	221M	418M	244M	182M	501M
Net Income to Common Excl. Extra Items	221M	418M	244M	182M	501M
Per Share Items
Net EPS - Basic	0.61	1.14	0.62	0.44	1.21
Basic EPS - Continuing Operations	0.61	1.14	0.62	0.44	1.21
Basic Weighted Average Shares Outstanding	362M	367M	393M	413M	414M
Net EPS - Diluted	0.61	1.14	0.62	0.44	1.21
Diluted EPS - Continuing Operations	0.61	1.14	0.62	0.44	1.21
Diluted Weighted Average Shares Outstanding	362M	367M	393M	413M	414M
Normalized Basic EPS	0.47	0.81	0.4	0.27	0.84
Normalized Diluted EPS	0.47	0.81	0.4	0.27	0.84
Dividend Per Share	-	-	0.1	0.15	0.15
Payout Ratio	-	-	-	22.74	12.5
Supplemental Items
EBITDA	325M	531M	308M	231M	634M
EBITA	286M	490M	265M	186M	581M
EBIT	282M	472M	239M	160M	542M
EBITDAR	326M	532M	-	232M	635M
Total Revenues (As Reported)	-	-	1.2B	1.07B	1.82B
Effective Tax Rate - (Ratio)	16.23	14.06	6.89	8.17	11.13
Total Current Taxes	41.66M	80.33M	27.97M	36.4M	98.15M
Total Deferred Taxes	1.16M	-11.92M	-9.95M	-20.24M	-35.4M
Normalized Net Income	171M	297M	157M	113M	347M
Supplemental Operating Expense Items
Advertising Expense	386M	540M	412M	371M	569M
Selling and Marketing Expenses	449M	578M	453M	412M	647M
General and Administrative Expenses	74.15M	112M	103M	141M	154M
Research And Development Expense From Footnotes	65.16M	93.36M	157M	134M	209M
Net Rental Expense, Total	1.12M	1.32M	-	1.47M	1.47M
Imputed Operating Lease Interest Expense	388K	-	-	-	-
Imputed Operating Lease Depreciation	737K	-	-	-	-
Maintenance & Repair Expenses, Total	6.5M	7.84M	5.55M	3.36M	5.58M
Stock-Based Comp., R&D Exp. (Total)	-	-	-	1.71M	8.98M
Stock-Based Comp., S&M Exp. (Total)	-	-	-	749K	4.69M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	2.87M	18.58M
Total Stock-Based Compensation	-	-	-	5.32M	32.25M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	273M	310M	1.16B	867M	442M
Total Cash And Short Term Investments	273M	310M	1.16B	867M	442M
Accounts Receivable, Total	331M	733M	764M	968M	1.57B
Other Receivables	-	-	-	-	-
Total Receivables	331M	733M	764M	968M	1.57B
Inventory	86.47M	146M	241M	192M	199M
Prepaid Expenses	17.93K	-	-	100K	924K
Other Current Assets, Total	16.58M	32.2M	29.15M	30.81M	35.26M
Total Current Assets	707M	1.22B	2.19B	2.06B	2.24B
Gross Property Plant And Equipment	783M	987M	1.68B	1.92B	2.42B
Accumulated Depreciation	-165M	-204M	-241M	-280M	-330M
Net Property Plant And Equipment	618M	783M	1.44B	1.64B	2.09B
Long-term Investments	7.3M	10.23M	69.12M	61.28M	208M
Other Intangibles, Total	74.74M	249M	224M	204M	347M
Deferred Tax Assets Long-Term	9.05M	20.96M	31.93M	54.2M	90.97M
Deferred Charges Long-Term	144M	122M	159M	211M	29.26M
Other Long-Term Assets, Total	23.34M	61.85M	61.95M	53.06M	41.06M
Total Assets	1.58B	2.47B	4.17B	4.28B	5.05B
Liabilities
Accounts Payable, Total	16.55M	34M	63.91M	24.8M	17.49M
Accrued Expenses, Total	330M	494M	423M	341M	553M
Short-term Borrowings	165M	-	-	-	20.47M
Current Income Taxes Payable	1.66M	18.24M	-	5.07M	48.89M
Unearned Revenue Current, Total	-	6.25M	10.21M	8.65M	283K
Other Current Liabilities	47.81M	127M	252M	337M	375M
Total Current Liabilities	561M	680M	749M	717M	1.01B
Unearned Revenue Non Current	9.18M	7.88M	8.09M	5.92M	9.86M
Deferred Tax Liability Non Current	-	-	-	1.11M	981K
Other Non Current Liabilities	-	-	253K	307K	173K
Total Liabilities	570M	688M	757M	724M	1.03B
Common Stock, Total	130M	372M	413M	413M	413M
Additional Paid In Capital	77.75M	416M	1.77B	1.78B	1.82B
Retained Earnings	835M	1.02B	1.24B	1.38B	1.82B
Comprehensive Income and Other	-29.56M	-30.89M	-5.75M	-10.96M	-31.86M
Total Common Equity	1.01B	1.78B	3.42B	3.56B	4.02B
Total Equity	1.01B	1.78B	3.42B	3.56B	4.02B
Total Liabilities And Equity	1.58B	2.47B	4.17B	4.28B	5.05B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	362M	372M	413M	413M	413M
ECS Total Common Shares Outstanding	362M	372M	413M	413M	413M
Book Value / Share	2.8	4.79	8.28	8.62	9.74
Tangible Book Value	938M	1.53B	3.19B	3.36B	3.67B
Tangible Book Value Per Share	2.59	4.12	7.74	8.13	8.9
Total Debt	165M	0	0	0	20.47M
Net Debt	-108M	-310M	-1.16B	-867M	-422M
Debt Equivalent Oper. Leases	9M	10.59M	-	11.73M	11.73M
Equity Method Investments, Total	-	4.26M	35.88M	34.17M	34.86M
Account Code - Inventory Valuation	-	6	6	6	6
Inventories - Raw Materials, Total	44.5M	78.9M	148M	105M	81.68M
Inventories - Work In Process, Total	19.32M	27.24M	27.08M	43.44M	51.76M
Inventories - Finished Goods, Total	25M	40.05M	138M	85.22M	92.2M
Buildings, Total	346M	325M	308M	375M	488M
Machinery, Total	399M	426M	452M	510M	826M
Full Time Employees	-	1.05K	1.23K	1.25K	1.24K
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	19.89M	28.75M	60.36M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	221M	418M	244M	182M	501M
Depreciation & Amortization - CF	38.81M	40.93M	43.05M	44.93M	53M
Amortization of Goodwill and Intangible Assets - (CF)	3.96M	17.93M	25.29M	26.01M	38.99M
Depreciation & Amortization, Total	42.76M	58.86M	68.34M	70.94M	91.99M
Amortization of Deferred Charges, Total - (CF)	115K	662K	987K	5.68M	7.01M
(Gain) Loss From Sale Of Asset	-15.34M	-	-76	726K	902K
(Gain) Loss on Sale of Investments - (CF)	13.9M	-6.42M	1.02M	-308K	-690K
Asset Writedown & Restructuring Costs	12.17M	48.93K	2.19M	-	-
Provision for Credit Losses	-5.62M	-627K	-	21.09M	28.65M
Provision and Write-off of Bad Debts	-	-	5.35M	12.54M	31.67M
Other Operating Activities, Total	8.3M	4.05M	88.01M	41.34M	27.31M
Change In Accounts Receivable	-48.14M	-419M	-40.04M	-171M	-691M
Change In Inventories	10.07M	-59.72M	-166M	7.89M	-33.53M
Change In Accounts Payable	-7.6M	225M	-51.67M	-109M	328M
Change In Deferred Taxes	1.16M	-11.92M	-10.97M	-21.16M	-35.4M
Cash from Operations	233M	209M	140M	39.82M	255M
Capital Expenditure	-128M	-336M	-633M	-291M	-471M
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	-
Cash from Investing	-128M	-334M	-696M	-289M	-639M
Short Term Debt Issued, Total	99.8M	69.9M	67.5M	-	197M
Total Debt Issued	99.8M	69.9M	67.5M	-	197M
Short Term Debt Repaid, Total	-148M	-235M	-67.5M	-	-176M
Total Debt Repaid	-148M	-235M	-67.5M	-	-176M
Issuance of Common Stock	-	350M	1.41B	-	-
Common Dividends Paid	-	-	-	-41.28M	-62.61M
Common & Preferred Stock Dividends Paid	-	-	-	-41.28M	-62.61M
Other Financing Activities, Total	-8.3M	-10.61M	-10.4M	-	-
Cash from Financing	-56.69M	174M	1.4B	-41.28M	-42.14M
Foreign Exchange Rate Adjustments	97.96K	-100K	-97.36K	1.66M	503K
Net Change in Cash	47.81M	49.86M	847M	-289M	-425M
Supplemental Items
Cash Interest Paid	8.3M	4.05M	329K	-	705K
Cash Income Tax Paid (Refund)	68.87M	122M	103M	77.93M	121M
Levered Free Cash Flow	83.03M	-178M	-468M	-298M	-334M
Unlevered Free Cash Flow	88.22M	-175M	-468M	-298M	-334M
Change In Net Working Capital	2.41M	194M	53.78M	189M	333M
Net Debt Issued / Repaid	-48.39M	-165M	0	-	20.47M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	11.77	14.57	4.51	2.36	7.26
Return on Total Capital	16.03	19.95	5.76	2.87	8.91
Return On Equity %	24.39	29.95	9.37	5.2	13.22
Return on Common Equity	24.39	29.95	9.37	5.2	13.22
Margin Analysis
Gross Profit Margin %	89.47	87.77	80.99	83.02	88.47
SG&A Margin	53.67	47.84	46.25	51.59	43.89
EBITDA Margin %	33.27	36.84	25.6	21.55	34.74
EBITA Margin %	29.29	34	22.02	17.35	31.84
EBIT Margin %	28.89	32.76	19.92	14.93	29.7
Income From Continuing Operations Margin %	22.65	29.02	20.26	16.94	27.46
Net Income Margin %	22.65	29.02	20.26	16.94	27.46
Net Avail. For Common Margin %	22.65	29.02	20.26	16.94	27.46
Normalized Net Income Margin	17.55	20.6	13.03	10.52	19
Levered Free Cash Flow Margin	8.51	-12.34	-38.93	-27.8	-18.33
Unlevered Free Cash Flow Margin	9.04	-12.16	-38.91	-27.8	-18.3
Asset Turnover
Asset Turnover	0.65	0.71	0.36	0.25	0.39
Fixed Assets Turnover	1.62	2.06	1.08	0.7	0.98
Receivables Turnover (Average Receivables)	3.21	2.71	1.6	1.24	1.44
Inventory Turnover (Average Inventory)	1.11	1.52	1.18	0.84	1.08
Short Term Liquidity
Current Ratio	1.26	1.8	2.93	2.87	2.21
Quick Ratio	1.08	1.53	2.56	2.56	1.98
Operating Cash Flow to Current Liabilities	0.41	0.31	0.19	0.06	0.25
Days Sales Outstanding (Average Receivables)	113.61	135.21	227.44	295.08	253.63
Days Outstanding Inventory (Average Inventory)	329.33	241.54	309.43	434.81	339.34
Average Days Payable Outstanding	97.66	39.2	55.2	122	35.52
Cash Conversion Cycle (Average Days)	345.27	337.55	481.67	607.89	557.44
Long Term Solvency
Total Debt/Equity	16.29	-	-	-	0.51
Total Debt / Total Capital	14.01	-	-	-	0.51
Total Liabilities / Total Assets	36.02	27.86	18.13	16.9	20.33
EBIT / Interest Expense	33.96	116.59	728.25	-	768.77
EBITDA / Interest Expense	39.11	131.13	936.1	-	899.25
(EBITDA - Capex) / Interest Expense	23.64	48.22	-988.88	-	231.61
Total Debt / EBITDA	0.51	-	-	-	0.03
Net Debt / EBITDA	-0.33	-0.58	-3.75	-3.75	-0.67
Total Debt / (EBITDA - Capex)	0.84	-	-	-	0.13
Net Debt / (EBITDA - Capex)	-0.55	-1.59	3.55	14.48	-2.58
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-4.24	47.73	-16.6	-10.86	70.3
Gross Profit, 1 Yr. Growth %	-3.02	44.92	-23.05	-8.62	81.48
EBITDA, 1 Yr. Growth %	73.39	63.6	-42.04	-24.98	174.59
EBITA, 1 Yr. Growth %	82.31	71.49	-45.99	-29.76	212.43
EBIT, 1 Yr. Growth %	81.36	67.54	-49.29	-33.2	238.87
Earnings From Cont. Operations, 1 Yr. Growth %	72.6	89.23	-41.77	-25.46	175.98
Net Income, 1 Yr. Growth %	72.6	89.23	-41.77	-25.46	175.98
Normalized Net Income, 1 Yr. Growth %	88.22	73.37	-47.26	-27.73	207.66
Diluted EPS Before Extra, 1 Yr. Growth %	69.44	86.89	-45.61	-29.03	175
Accounts Receivable, 1 Yr. Growth %	19.91	121.68	4.2	26.77	61.84
Inventory, 1 Yr. Growth %	-12.59	69.06	65.08	-20.4	3.6
Net Property, Plant and Equip., 1 Yr. Growth %	5.74	26.75	83.71	14.13	27
Total Assets, 1 Yr. Growth %	12.27	55.84	69.18	2.61	17.8
Tangible Book Value, 1 Yr. Growth %	24.65	63.21	108.56	5.06	9.46
Common Equity, 1 Yr. Growth %	26.7	75.7	92	4.15	12.95
Cash From Operations, 1 Yr. Growth %	-13.71	-10.15	-32.92	-71.62	540.93
Capital Expenditures, 1 Yr. Growth %	-29.12	161.5	88.5	-54.06	61.89
Levered Free Cash Flow, 1 Yr. Growth %	-	-314.17	163.03	-36.34	12.28
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-298.71	166.71	-36.31	12.13
Dividend Per Share, 1 Yr. Growth %	-	-	-	50	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	18.94	11	-13.78	23.21
Gross Profit, 2 Yr. CAGR %	-	18.55	5.6	-16.15	28.78
EBITDA, 2 Yr. CAGR %	-	68.43	-2.63	-34.06	43.52
EBITA, 2 Yr. CAGR %	-	76.82	-3.76	-38.41	48.14
EBIT, 2 Yr. CAGR %	-	74.31	-7.83	-41.8	50.45
Earnings From Cont. Operations, 2 Yr. CAGR %	-	80.72	4.97	-34.12	43.43
Net Income, 2 Yr. CAGR %	-	80.72	4.97	-34.12	43.43
Normalized Net Income, 2 Yr. CAGR %	-	80.64	-4.38	-38.39	49.11
Diluted EPS Before Extra, 2 Yr. CAGR %	-	77.95	0.82	-37.87	39.7
Accounts Receivable, 2 Yr. CAGR %	-	63.04	51.98	14.93	43.23
Inventory, 2 Yr. CAGR %	-	21.57	67.06	14.63	-9.19
Net Property, Plant and Equip., 2 Yr. CAGR %	-	15.77	52.6	44.8	20.4
Total Assets, 2 Yr. CAGR %	-	32.27	62.38	31.76	9.94
Tangible Book Value, 2 Yr. CAGR %	-	42.63	84.5	48.03	7.24
Common Equity, 2 Yr. CAGR %	-	49.2	83.67	41.41	8.46
Cash From Operations, 2 Yr. CAGR %	-	-11.95	-22.37	-56.37	34.87
Capital Expenditures, 2 Yr. CAGR %	-	36.14