Cash flow CSC Financial Co., Ltd.

Equities

6066

CNE100002B89

Investment Banking & Brokerage Services

Market Closed - Hong Kong S.E. Other stock markets 04:08:32 2024-09-20 EDT			5-day change	1st Jan Change
5.390 ^HKD	+0.75%		+3.85%	-21.88%

08-30	CSC Financial Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI
08-19	Huaneng Power International Issues 1.3 Billion Yuan Mid-Term Bonds	MT

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Published financial data: CSC FINANCIAL CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest and Dividend Income, Total	10.65B	15.78B	17.01B	14.06B	16.96B
Interest Expense, Total	4.68B	5.77B	7.23B	7.14B	8.41B
Net Interest Income	5.97B	10B	9.77B	6.92B	8.55B
Brokerage Commission	8.63B	13.62B	15.36B	15.54B	14.4B
Other Revenues, Total	27.72M	1.25B	6.62B	6.68B	2.42B
Revenues Before Provison For Loan Losses	14.63B	24.88B	31.76B	29.15B	25.38B
Provision For Loan Losses	-53.2M	28.02M	14.81M	86.34M	83.54M
Total Revenues	14.68B	24.85B	31.74B	29.06B	25.3B
Salaries And Other Employee Benefits	4.71B	6.44B	7.85B	7.89B	7.97B
Cost of Services Provided, Total	1.06B	1.6B	1.92B	1.87B	2.33B
Provision for Bad Debts	4.33M	11.51M	10.61M	-9.01M	31.56M
Other Operating Expenses	1.75B	3.32B	9.2B	9.72B	6.89B
Total Operating Expenses	7.53B	11.37B	18.98B	19.47B	17.23B
Operating Income	7.15B	13.49B	12.76B	9.59B	8.07B
Income (Loss) on Equity Invest.	-7.61M	11.86M	2.14M	13.52M	7.37M
Currency Exchange Gains (Loss)	287K	-16.47M	-33.12M	102M	54.9M
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	7.14B	13.48B	12.73B	9.71B	8.13B
Gain (Loss) on Sale of Investments	10.55M	-1.36B	323M	-207M	245M
Gain (Loss) on Sale of Assets	334K	419K	818K	-1.54M	2.01M
Asset Writedown	-	-	-31.29M	-25.98M	-8.42M
EBT, Incl. Unusual Items	7.15B	12.13B	13.02B	9.47B	8.37B
Income Tax Expense	1.62B	2.59B	2.79B	1.95B	1.32B
Earnings From Continuing Operations	5.53B	9.54B	10.24B	7.52B	7.05B
Net Income to Company	5.53B	9.54B	10.24B	7.52B	7.05B
Minority Interest	-27.96M	-27.26M	3.64M	-10.15M	-12.86M
Net Income - (IS)	5.5B	9.51B	10.24B	7.51B	7.03B
Preferred Dividend and Other Adjustments	371M	370M	548M	852M	984M
Net Income to Common Incl Extra Items	5.13B	9.14B	9.69B	6.66B	6.05B
Net Income to Common Excl. Extra Items	5.13B	9.14B	9.69B	6.66B	6.05B
Per Share Items
Net EPS - Basic	0.67	1.2	1.25	0.86	0.78
Basic EPS - Continuing Operations	0.67	1.2	1.25	0.86	0.78
Basic Weighted Average Shares Outstanding	7.65B	7.65B	7.76B	7.76B	7.76B
Net EPS - Diluted	0.67	1.2	1.25	0.86	0.78
Diluted EPS - Continuing Operations	0.67	1.2	1.25	0.86	0.78
Diluted Weighted Average Shares Outstanding	7.65B	7.65B	7.76B	7.76B	7.76B
Normalized Basic EPS	0.58	1.1	1.03	0.78	0.65
Normalized Diluted EPS	0.58	1.1	1.03	0.78	0.65
Dividend Per Share	0.24	0.38	0.4	0.27	0.25
Payout Ratio	30.36	24.33	32.49	49.14	43.76
Supplemental Items
Total Revenues (As Reported)	19.41B	30.72B	39.03B	36.47B	33.98B
Effective Tax Rate - (Ratio)	22.7	21.35	21.39	20.64	15.82
Current Domestic Taxes	1.37B	2.98B	2.7B	-	-
Total Current Taxes	1.37B	2.98B	2.7B	2.22B	818M
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	255M	-388M	89.88M	-269M	507M
Normalized Net Income	4.44B	8.4B	7.96B	6.06B	5.07B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	47.22B	28.58B	36B	38.94B	36.62B
Securities Purchased Under Agreements To Resell	21.12B	16.12B	19.02B	25.55B	13.94B
Accounts Receivable, Total	27.88B	46.62B	57.93B	53.02B	56.52B
Other Receivables	1.94B	1.13B	3.11B	3.33B	8.69B
Gross Property Plant And Equipment	2.73B	3.11B	4.14B	4.65B	5B
Accumulated Depreciation	-1.13B	-1.54B	-1.61B	-2.13B	-2.72B
Net Property Plant And Equipment	1.61B	1.57B	2.52B	2.53B	2.28B
Other Intangibles, Total	236M	360M	519M	670M	827M
Investment In Debt and Equity Securities	38.94B	54.11B	55.93B	79.88B	85.84B
Trading Asset Securities, Total	89.42B	134B	156B	181B	208B
Other Current Assets, Total	53.11B	77.62B	109B	112B	96B
Deferred Tax Assets Long-Term (Collected)	964M	1.73B	1.97B	1.89B	428M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	3.24B	9.12B	10.65B	11.12B	13.26B
Total Assets	286B	371B	453B	510B	523B
Liabilities
Accounts Payable, Total	69.69B	74.79B	93.56B	110B	102B
Accrued Expenses, Total	2.98B	4.4B	5.17B	4.58B	4.76B
Short-Term Borrowings	83.94B	139B	132B	155B	174B
Current Portion of Long-Term Debt	22.75B	15.3B	44.29B	39.57B	22.15B
Current Portion of Leases	340M	324M	444M	512M	481M
Long-Term Debt	34.13B	50.02B	60.02B	62.21B	80.64B
Long-Term Leases	735M	655M	1.36B	1.37B	1.07B
Current Income Taxes Payable	325M	938M	1.02B	711M	111M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	13.2B	15.52B	28.23B	36B	34.8B
Deferred Tax Liability Non-Current	661M	1.07B	1.53B	1.07B	167M
Other Non Current Liabilities	10.29M	1.25B	5.46B	5.82B	4.96B
Total Liabilities	229B	303B	373B	417B	425B
Common Stock, Total	7.65B	7.76B	7.76B	7.76B	7.76B
Retained Earnings	29.81B	37.15B	43.93B	47.52B	51.49B
Comprehensive Income and Other	19.13B	22.83B	28.13B	37.96B	38.23B
Total Common Equity	56.58B	67.74B	79.82B	93.24B	97.48B
Minority Interest	313M	336M	188M	44.34M	48.36M
Total Equity	56.89B	68.07B	80.01B	93.29B	97.53B
Total Liabilities And Equity	286B	371B	453B	510B	523B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	7.65B	7.76B	7.76B	7.76B	7.76B
ECS Total Common Shares Outstanding	7.65B	7.76B	7.76B	7.76B	7.76B
Book Value / Share	7.4	8.73	10.29	12.02	12.57
Tangible Book Value	56.35B	67.37B	79.3B	92.57B	96.65B
Tangible Book Value Per Share	7.37	8.69	10.22	11.93	12.46
Total Debt	142B	205B	238B	259B	278B
Net Debt	-15.85B	26.22B	26.3B	13.08B	19.34B
Equity Method Investments, Total	270M	229M	111M	108M	115M
Full Time Employees	9.41K	9.99K	11.78K	14.15K	13.9K

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	5.5B	9.51B	10.24B	7.51B	7.03B
Depreciation, Depletion & Amortization	506M	560M	627M	846M	919M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Total Depreciation, Depletion & Amortization	506M	560M	627M	846M	919M
Amortization of Deferred Charges, Total	66.74M	83.86M	120M	166M	217M
(Gain) Loss On Sale of Asset - (CF)	-334K	-237K	-555M	8.28M	-2.01M
(Gain) Loss on Sale of Investments - (CF)	-1.3B	246M	-1.37B	1.49B	-2.84B
Total Asset Writedown	-	-	31.29M	25.98M	8.42M
Provision for Credit Losses	-48.88M	39.53M	25.41M	86.34M	83.54M
(Income) Loss On Equity Investments - (CF)	7.61M	-11.86M	-2.14M	-13.52M	-7.37M
Provision and Write-off of Bad Debts	-	-	-	-9.01M	31.56M
Change in Trading Asset Securities	-31.71B	-44.65B	-21.79B	-29.49B	-25.93B
Change in Accounts Payable	19.59B	20.08B	18.37B	16.21B	-8.37B
Change in Other Net Operating Assets (Collected)	23.01B	-26.47B	-14.62B	26.14B	17.21B
Other Operating Activities	2.08B	2.3B	2.26B	1.31B	1.52B
Cash from Operations	17.69B	-38.31B	-6.65B	24.28B	-10.13B
Capital Expenditure	-290M	-433M	-620M	-547M	-1.08B
Investment in Marketable and Equity Securities, Total	-3.91B	-11.99B	637M	-22.26B	-4.25B
Other Investing Activities, Total	1.26B	1.01B	1.78B	1.56B	2.67B
Cash from Investing	-2.94B	-11.41B	1.8B	-21.24B	-2.65B
Short Term Debt Issued, Total	30.71B	-	-	-	-
Long-Term Debt Issued, Total	71.44B	188B	180B	97.6B	107B
Total Debt Issued	102B	188B	180B	97.6B	107B
Short Term Debt Repaid, Total	-86.84B	-	-	-	-
Long-Term Debt Repaid, Total	-	-155B	-165B	-99.09B	-88.61B
Total Debt Repaid	-86.84B	-155B	-165B	-99.09B	-88.61B
Issuance of Common Stock	5B	8.88B	5B	10B	-
Repurchase of Common Stock	-	-5B	-	-	-
Common Dividends Paid	-1.67B	-2.31B	-3.33B	-3.69B	-3.08B
Common & Preferred Stock Dividends Paid	-1.67B	-2.31B	-3.33B	-3.69B	-3.08B
Other Financing Activities, Total	-3.36B	-3.97B	-3.99B	-4.68B	-4.86B
Cash from Financing	15.28B	30.82B	12.51B	135M	10.84B
Foreign Exchange Rate Adjustments	63.61M	-275M	-184M	154M	-551M
Net Change in Cash	30.09B	-19.17B	7.47B	3.33B	-2.49B
Supplemental Items
Cash Interest Paid	2.71B	3.32B	3.18B	3.84B	4.06B
Cash Income Tax Paid (Refund)	1.16B	2.36B	2.61B	2.53B	1.42B
Net Debt Issued / Repaid	15.31B	33.22B	14.83B	-1.5B	18.78B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.3	2.9	2.48	1.56	1.37
Return On Equity %	10.56	15.26	13.82	8.68	7.39
Return on Common Equity	9.85	14.7	13.14	7.69	6.34
Margin Analysis
Gross Profit Margin %	93.14	93.56	93.95	93.9	90.78
SG&A Margin	32.46	25.9	24.74	27.48	31.52
Income From Continuing Operations Margin %	37.67	38.37	32.25	25.87	27.86
Net Income Margin %	37.48	38.26	32.26	25.83	27.81
Net Avail. For Common Margin %	34.95	36.77	30.53	22.9	23.92
Normalized Net Income Margin	30.22	33.79	25.07	20.84	20.04
Asset Turnover
Asset Turnover	0.06	0.08	0.08	0.06	0.05
Short Term Liquidity
Current Ratio	1.25	1.22	1.25	1.2	1.24
Quick Ratio	0.97	0.91	0.9	0.87	0.96
Operating Cash Flow to Current Liabilities	0.09	-0.15	-0.02	0.07	-0.03
Long Term Solvency
Total Debt/Equity	249.41	301.44	297.24	277.19	285.3
Total Debt / Total Capital	71.38	75.09	74.83	73.49	74.05
LT Debt/Equity	61.29	74.44	76.72	68.16	83.78
Long-Term Debt / Total Capital	17.54	18.54	19.31	18.07	21.74
Total Liabilities / Total Assets	80.08	81.66	82.33	81.71	81.34
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	38.93	68.94	27.7	-8.44	-12.96
Gross Profit, 1 Yr. Growth %	40.03	69.69	28.23	-8.49	-15.85
Earnings From Cont. Operations, 1 Yr. Growth %	78.18	72.46	7.32	-26.55	-6.4
Net Income, 1 Yr. Growth %	78.19	72.85	7.67	-26.68	-6.45
Normalized Net Income, 1 Yr. Growth %	73.17	89.32	-5.24	-23.9	-16.29
Diluted EPS Before Extra, 1 Yr. Growth %	81.08	78.36	4.55	-31.33	-9.25
Common Equity, 1 Yr. Growth %	18.93	19.71	17.84	16.82	4.53
Total Assets, 1 Yr. Growth %	46.44	29.95	21.97	12.62	2.66
Tangible Book Value, 1 Yr. Growth %	18.9	19.57	17.7	16.74	4.4
Cash From Operations, 1 Yr. Growth %	67.53	-316.53	-82.63	-464.84	-141.71
Capital Expenditures, 1 Yr. Growth %	67.91	49.1	43.35	-11.83	97.05
Dividend Per Share, 1 Yr. Growth %	30.56	59.57	5.33	-31.65	-7.41
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.25	53.37	46.88	8.13	-10.73
Gross Profit, 2 Yr. CAGR %	9.73	54.33	47.51	8.33	-12.24
Earnings From Cont. Operations, 2 Yr. CAGR %	16.68	75.3	36.05	-11.22	-17.02
Net Income, 2 Yr. CAGR %	17.05	75.5	36.42	-11.15	-17.11
Normalized Net Income, 2 Yr. CAGR %	15.37	81.06	33.94	-15.08	-20.18
Diluted EPS Before Extra, 2 Yr. CAGR %	14.62	79.72	36.56	-15.27	-20.99
Common Equity, 2 Yr. CAGR %	13.72	19.32	18.77	17.33	10.51
Total Assets, 2 Yr. CAGR %	17.79	37.95	25.9	17.2	7.45
Tangible Book Value, 2 Yr. CAGR %	13.7	19.23	18.63	17.22	10.4
Cash From Operations, 2 Yr. CAGR %	-23.77	90.46	-38.67	-20.39	23.36
Capital Expenditures, 2 Yr. CAGR %	6.02	58.23	46.19	12.42	31.81
Dividend Per Share, 2 Yr. CAGR %	14.26	44.34	29.65	-15.15	-20.44
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	0.12	25.66	44.29	25.47	0.59
Gross Profit, 3 Yr. CAGR %	1.08	26.99	45.09	25.81	-0.42
Earnings From Cont. Operations, 3 Yr. CAGR %	1.34	32.91	48.85	10.78	-9.59
Net Income, 3 Yr. CAGR %	1.51	33.29	49.12	10.92	-9.56
Normalized Net Income, 3 Yr. CAGR %	0.43	36.08	45.91	10.94	-15.49
Diluted EPS Before Extra, 3 Yr. CAGR %	-5.95	32.82	50.02	8.59	-13.26
Common Equity, 3 Yr. CAGR %	11.28	15.68	18.82	18.12	12.9
Total Assets, 3 Yr. CAGR %	16.28	21.71	32.4	21.31	12.09
Tangible Book Value, 3 Yr. CAGR %	11.25	15.63	18.72	18	12.78
Cash From Operations, 3 Yr. CAGR %	-4.65	7.96	-14.27	11.13	-35.82