GUANGZHOU WAHLAP TECHNOLOGY CORPORATION LIMITED

Cash flow GuangZhou Wahlap Technology Corporation Limited

Equities

301011

CNE100004LN7

Toys & Juvenile Products

End-of-day quote Shenzhen S.E. Other stock markets 2024-09-18			5-day change	1st Jan Change
14.63 ^CNY	-0.07%		-3.81%	-37.48%

08-27	GuangZhou Wahlap Technology Corporation Limited Reports Earnings Results for the Half Year Ended June 30, 2024	CI
08-01	Su Yongyi agreed to acquire 4.83% stake in GuangZhou Wahlap Technology Corporation Limited from Suqian Yangyou Enterprise Management Consulting Co., Ltd. for CNY 79.5 million.	CI

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Published financial data: GUANGZHOU WAHLAP TECHNOLOGY CORPORATION LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	487M	417M	608M	577M	788M
Other Revenues, Total	11.51M	7.94M	18.54M	27.7M	27.81M
Total Revenues	498M	425M	627M	605M	816M
Cost of Goods Sold, Total	314M	307M	456M	472M	594M
Gross Profit	184M	118M	171M	132M	223M
Selling General & Admin Expenses, Total	90.74M	36.77M	68.58M	80.58M	90.93M
Provision for Bad Debts	858K	12.25M	9.19M	26.68M	7.63M
R&D Expenses	14.99M	12.21M	17.25M	23.96M	27.34M
Other Operating Expenses	3.27M	1.32M	245K	2.94M	7.02M
Other Operating Expenses, Total	110M	62.56M	95.27M	134M	133M
Operating Income	74.41M	54.97M	75.65M	-1.83M	89.66M
Interest Expense, Total	-3.62M	-7.89M	-13.87M	-10.34M	-9.54M
Interest And Investment Income	69.67K	69.83K	290K	265K	847K
Net Interest Expenses	-3.55M	-7.82M	-13.58M	-10.07M	-8.69M
Currency Exchange Gains (Loss)	-1.89M	5.95M	3.53M	-11.95M	-2.28M
Other Non Operating Income (Expenses)	-2.88M	-1.22M	-1.9M	-2.74M	-8.53M
EBT, Excl. Unusual Items	66.09M	51.88M	63.71M	-26.59M	70.16M
Impairment of Goodwill	-	-	-7.72M	-45.78M	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-822K
Gain (Loss) On Sale Of Assets	-	52.27K	11.06K	481K	296K
Asset Writedown	-508K	-	-136K	-362K	-116K
Other Unusual Items	88.11K	-5.61M	1.54M	1.49M	-402K
EBT, Incl. Unusual Items	65.67M	46.32M	57.4M	-70.77M	69.11M
Income Tax Expense	5.9M	260K	4.87M	446K	17.16M
Earnings From Continuing Operations	59.77M	46.06M	52.53M	-71.22M	51.96M
Net Income to Company	59.77M	46.06M	52.53M	-71.22M	51.96M
Minority Interest	-	-	-	-	-
Net Income - (IS)	59.77M	46.06M	52.53M	-71.22M	51.96M
Net Income to Common Incl Extra Items	59.77M	46.06M	52.53M	-71.22M	51.96M
Net Income to Common Excl. Extra Items	59.77M	46.06M	52.53M	-71.22M	51.96M
Per Share Items
Net EPS - Basic	0.54	0.42	0.41	-0.48	0.35
Basic EPS - Continuing Operations	0.54	0.42	0.41	-0.48	0.35
Basic Weighted Average Shares Outstanding	110M	110M	129M	147M	148M
Net EPS - Diluted	0.54	0.42	0.41	-0.48	0.35
Diluted EPS - Continuing Operations	0.54	0.42	0.41	-0.48	0.35
Diluted Weighted Average Shares Outstanding	110M	110M	129M	147M	148M
Normalized Basic EPS	0.38	0.3	0.31	-0.11	0.3
Normalized Diluted EPS	0.38	0.3	0.31	-0.11	0.3
Dividend Per Share	-	-	0.12	-	0.2
Payout Ratio	11.01	22.98	15.54	-31.69	10.69
Supplemental Items
EBITDA	107M	90.75M	117M	42.65M	136M
EBITA	75.45M	55.26M	76.73M	-651K	90.34M
EBIT	74.41M	54.97M	75.65M	-1.83M	89.66M
EBITDAR	139M	91.76M	118M	43.23M	139M
Total Revenues (As Reported)	498M	425M	627M	605M	816M
Effective Tax Rate - (Ratio)	8.98	0.56	8.48	-0.63	24.82
Total Current Taxes	-	5.52M	13.62M	2.83M	10.27M
Total Deferred Taxes	-	-5.26M	-8.75M	-2.38M	6.88M
Normalized Net Income	41.3M	32.43M	39.82M	-16.62M	43.85M
Interest Capitalized	-	2.8M	-	-	-
Interest on Long-Term Debt	-	-	5.82M	5.11M	62.37K
Non-Cash Pension Expense	-	-	327K	409K	147K
Supplemental Operating Expense Items
Advertising Expense	8.7M	2.59M	10.29M	12.6M	15.5M
Selling and Marketing Expenses	26.84M	14.24M	30.01M	32.99M	44.11M
General and Administrative Expenses	32.05M	22.1M	38.57M	47.59M	46.82M
Research And Development Expense From Footnotes	14.99M	12.21M	17.25M	23.96M	27.34M
Net Rental Expense, Total	31.85M	1.01M	999K	582K	2.33M
Imputed Operating Lease Interest Expense	8.6M	495K	616K	219K	914K
Imputed Operating Lease Depreciation	23.25M	512K	384K	363K	1.42M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Total Stock-Based Compensation	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	48.93M	45.8M	125M	78.21M	159M
Total Cash And Short Term Investments	48.93M	45.8M	125M	78.21M	159M
Accounts Receivable, Total	123M	257M	277M	280M	256M
Other Receivables	1.49M	35.34K	22.76M	22.34M	11.79M
Total Receivables	125M	257M	300M	302M	268M
Inventory	180M	147M	244M	269M	265M
Prepaid Expenses	-	-	-	-	-
Other Current Assets, Total	41.86M	32.07M	26.77M	43.19M	34.99M
Total Current Assets	396M	481M	695M	693M	728M
Gross Property Plant And Equipment	-	399M	590M	635M	640M
Accumulated Depreciation	-	-133M	-235M	-298M	-311M
Net Property Plant And Equipment	222M	267M	355M	337M	329M
Long-term Investments	1.95M	2.84M	2.84M	-	-
Goodwill	53.5M	53.5M	45.78M	-	-
Other Intangibles, Total	32.5M	30.62M	31.04M	33.69M	31.79M
Deferred Tax Assets Long-Term	12.83M	18.09M	29.94M	32.75M	25.87M
Deferred Charges Long-Term	17.89M	16.22M	38.94M	43.7M	32.08M
Other Long-Term Assets, Total	828K	1.74M	14.61M	13.1M	12.85M
Total Assets	738M	871M	1.21B	1.15B	1.16B
Liabilities
Accounts Payable, Total	154M	214M	219M	195M	187M
Accrued Expenses, Total	7.53M	10.83M	12.14M	14.39M	20.93M
Short-term Borrowings	49.9M	76.18M	19.34M	95.36M	30.02M
Current Portion of Long-Term Debt	17.71M	25.9M	20.48M	23.4M	38.78M
Current Portion of Leases	-	-	29.09M	27.35M	18.58M
Current Income Taxes Payable	9.34M	6.93M	6.94M	-	4.04M
Unearned Revenue Current, Total	-	17.1M	21.17M	23.19M	38.42M
Other Current Liabilities	31.24M	20.16M	32.37M	43.36M	69.03M
Total Current Liabilities	269M	371M	361M	422M	407M
Long-Term Debt	93.47M	84.94M	54.08M	40.77M	6.55M
Long-Term Leases	-	-	75.96M	53.15M	54.99M
Unearned Revenue Non Current	2.71M	-	-	-	-
Deferred Tax Liability Non Current	-	-	-	-	-
Total Liabilities	366M	456M	491M	516M	468M
Common Stock, Total	65.1M	65.1M	86.8M	113M	147M
Additional Paid In Capital	157M	157M	401M	375M	341M
Retained Earnings	150M	196M	239M	150M	202M
Comprehensive Income and Other	322K	-2.12M	-3.7M	-218K	855K
Total Common Equity	372M	416M	723M	638M	691M
Minority Interest	-	-	-	-	-
Total Equity	372M	416M	723M	638M	691M
Total Liabilities And Equity	738M	871M	1.21B	1.15B	1.16B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	110M	110M	147M	147M	147M
ECS Total Common Shares Outstanding	110M	110M	147M	147M	147M
Book Value / Share	3.38	3.78	4.93	4.35	4.71
Tangible Book Value	286M	332M	646M	604M	659M
Tangible Book Value Per Share	2.6	3.01	4.4	4.12	4.49
Total Debt	161M	187M	199M	240M	149M
Net Debt	112M	141M	74.24M	162M	-10.18M
Debt Equivalent Oper. Leases	255M	8.06M	8M	4.66M	18.65M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	105M	103M	160M	163M	177M
Inventories - Work In Process, Total	9.46M	5.2M	17.85M	16.26M	13.72M
Inventories - Finished Goods, Total	73.04M	54.14M	82.45M	111M	98.86M
Inventories - Others	8.71M	-	-	-	-
Buildings, Total	-	159M	145M	145M	145M
Machinery, Total	-	241M	287M	331M	362M
Full Time Employees	397	-	502	533	488
Assets on Operating Lease - Gross	-	-	-	-	-
Assets on Operating Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	9.21M	21.67M	30.4M	56.29M	62.51M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	59.77M	46.06M	52.53M	-71.22M	51.96M
Depreciation & Amortization - CF	31.23M	35.48M	66.71M	71.35M	70.42M
Amortization of Goodwill and Intangible Assets - (CF)	1.04M	291K	1.08M	1.18M	682K
Depreciation & Amortization, Total	32.27M	35.77M	67.8M	72.53M	71.1M
Amortization of Deferred Charges, Total - (CF)	5.44M	7.52M	11.08M	13.61M	14.25M
(Gain) Loss From Sale Of Asset	-	-52.27K	-11.06K	-481K	354K
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-43.84K	822K
Asset Writedown & Restructuring Costs	3.62M	12.83M	7.86M	46.14M	116K
Provision and Write-off of Bad Debts	-	-	9.19M	26.68M	7.63M
Other Operating Activities, Total	7.58M	2.5M	13.77M	31.37M	28.66M
Change In Accounts Receivable	-20.4M	-122M	-47.45M	-59.1M	28.48M
Change In Inventories	-22.4M	33.1M	-97.48M	-33.95M	-7.48M
Change In Accounts Payable	51.28M	30.95M	36.29M	-3.39M	48.82M
Change In Deferred Taxes	-2.73M	-5.26M	-8.75M	-2.38M	6.88M
Change in Other Net Operating Assets	514K	-	-	-	-
Cash from Operations	115M	41.26M	44.83M	19.78M	252M
Capital Expenditure	-156M	-52.25M	-103M	-76.33M	-48.83M
Sale of Property, Plant, and Equipment	-	731K	14.56K	-	19.59K
Cash Acquisitions	-29.4M	-	-	-	-
Divestitures	1.24M	-	-	-	3.07M
Investment in Marketable and Equity Securities, Total	-1.85M	-895K	-	0	0
Other Investing Activities, Total	-	-	-	43.84K	148K
Cash from Investing	-186M	-52.41M	-103M	-76.28M	-45.59M
Long-Term Debt Issued, Total	376M	233M	360M	332M	300M
Total Debt Issued	376M	233M	360M	332M	300M
Long-Term Debt Repaid, Total	-269M	-208M	-453M	-301M	-416M
Total Debt Repaid	-269M	-208M	-453M	-301M	-416M
Issuance of Common Stock	-	-	287M	-	-
Common Dividends Paid	-6.58M	-10.58M	-8.16M	-22.57M	-5.55M
Common & Preferred Stock Dividends Paid	-6.58M	-10.58M	-8.16M	-22.57M	-5.55M
Other Financing Activities, Total	-2.16M	-4.27M	-45.68M	-2.31M	-1.06M
Cash from Financing	98.57M	10.97M	140M	6.15M	-123M
Foreign Exchange Rate Adjustments	-1.03M	-2.21M	-3.01M	3.5M	-2.34M
Miscellaneous Cash Flow Adjustments	-	0	-	-	-
Net Change in Cash	26.67M	-2.39M	78.97M	-46.86M	80.92M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	-10.34M	8.11M	16.01M	12.66M	21.45M
Levered Free Cash Flow	-92.25M	-1.4M	-123M	-58.4M	177M
Unlevered Free Cash Flow	-89.98M	3.53M	-115M	-51.94M	183M
Change In Net Working Capital	18.39M	21.87M	137M	60.61M	-90.32M
Net Debt Issued / Repaid	107M	25.83M	-93M	31.03M	-116M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.22	4.27	4.54	-0.1	4.85
Return on Total Capital	10.35	6.05	6.31	-0.13	6.53
Return On Equity %	17.48	11.69	9.23	-10.47	7.82
Return on Common Equity	17.48	11.69	9.23	-10.47	7.82
Margin Analysis
Gross Profit Margin %	36.99	27.66	27.26	21.88	27.27
SG&A Margin	18.21	8.65	10.94	13.32	11.14
EBITDA Margin %	21.41	21.36	18.73	7.05	16.71
EBITA Margin %	15.14	13.01	12.24	-0.11	11.07
EBIT Margin %	14.94	12.94	12.06	-0.3	10.98
Income From Continuing Operations Margin %	12	10.84	8.38	-11.78	6.36
Net Income Margin %	12	10.84	8.38	-11.78	6.36
Net Avail. For Common Margin %	12	10.84	8.38	-11.78	6.36
Normalized Net Income Margin	8.29	7.63	6.35	-2.75	5.37
Levered Free Cash Flow Margin	-18.52	-0.33	-19.66	-9.66	21.67
Unlevered Free Cash Flow Margin	-18.06	0.83	-18.28	-8.59	22.4
Asset Turnover
Asset Turnover	0.77	0.53	0.6	0.51	0.71
Fixed Assets Turnover	3	1.74	2.02	1.75	2.45
Receivables Turnover (Average Receivables)