Cash flow Piotech Inc.

Equities

688072

CNE100005998

Semiconductor Equipment & Testing

End-of-day quote Shanghai S.E. Other stock markets 2025-12-05			5-day change	1st Jan Change
304.02 ^CNY	-0.42%		+0.24%	+97.84%

11-20	Piotech's shareholder National Integrated Circuit Industry Investment Fund plans to cut stake	RE
10-30	Piotech Inc. Reports Earnings Results for the Nine Months Ended September 30, 2025	CI

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Published financial data: PIOTECH INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	429M	745M	1.71B	2.63B	3.96B
Other Revenues, Total	6.86M	12.75M	-	70.47M	145M
Total Revenues	436M	758M	1.71B	2.7B	4.1B
Cost of Goods Sold, Total	287M	431M	889M	1.34B	2.41B
Gross Profit	148M	327M	817M	1.36B	1.7B
Selling General & Admin Expenses, Total	94.29M	142M	273M	470M	500M
Provision for Bad Debts	-946K	-1.78M	2.52M	7.56M	34.04M
R&D Expenses	123M	288M	379M	576M	756M
Other Operating Expenses	2.19M	6.63M	17.16M	17.28M	10.26M
Other Operating Expenses, Total	218M	435M	672M	1.07B	1.3B
Operating Income	-69.94M	-108M	145M	292M	395M
Interest Expense, Total	-	-	-2.09M	-31.05M	-75.32M
Interest And Investment Income	11.47M	18.7M	44.66M	64.91M	33.36M
Net Interest Expenses	11.47M	18.7M	42.57M	33.86M	-41.96M
Currency Exchange Gains (Loss)	-864K	1.13M	-9.47M	-17.75M	-19.49M
Other Non Operating Income (Expenses)	-244K	-524K	-1.06M	-1.7M	-2.59M
EBT, Excl. Unusual Items	-59.58M	-88.21M	177M	306M	331M
Gain (Loss) On Sale Of Investments	-	-	16.26M	94.04M	204M
Gain (Loss) On Sale Of Assets	-20.4K	-19.92K	77.18K	26.42K	22.19K
Asset Writedown	-5.21M	-	-129K	2.95K	-
Other Unusual Items	53.11M	156M	171M	329M	143M
EBT, Incl. Unusual Items	-11.7M	67.38M	364M	729M	679M
Income Tax Expense	-	451K	-	65.04M	-8.82M
Earnings From Continuing Operations	-11.7M	66.93M	364M	664M	687M
Net Income to Company	-11.7M	66.93M	364M	664M	687M
Minority Interest	211K	1.56M	4.37M	-1.29M	733K
Net Income - (IS)	-11.49M	68.49M	369M	663M	688M
Net Income to Common Incl Extra Items	-11.49M	68.49M	369M	663M	688M
Net Income to Common Excl. Extra Items	-11.49M	68.49M	369M	663M	688M
Per Share Items
Net EPS - Basic	-0.06	0.33	1.45	2.39	2.48
Basic EPS - Continuing Operations	-0.06	0.33	1.45	2.39	2.48
Basic Weighted Average Shares Outstanding	208M	208M	254M	277M	277M
Net EPS - Diluted	-0.06	0.33	1.45	2.38	2.46
Diluted EPS - Continuing Operations	-0.06	0.33	1.45	2.38	2.46
Diluted Weighted Average Shares Outstanding	208M	208M	255M	279M	280M
Normalized Basic EPS	-0.18	-0.26	0.45	0.69	0.75
Normalized Diluted EPS	-0.18	-0.26	0.45	0.68	0.74
Dividend Per Share	-	-	0.12	0.24	0.27
Payout Ratio	-	-	0.4	9.44	20.05
Supplemental Items
EBITDA	-52.79M	-90.7M	170M	337M	468M
EBITA	-67.34M	-106M	147M	294M	398M
EBIT	-69.94M	-108M	145M	292M	395M
EBITDAR	-	-90.02M	-	341M	474M
Total Revenues (As Reported)	-	758M	1.71B	2.7B	4.1B
Effective Tax Rate - (Ratio)	-	0.67	-	8.92	-1.3
Total Current Taxes	-	451K	-	64.64M	9.14K
Total Deferred Taxes	-	-	-	400K	-8.83M
Normalized Net Income	-37.02M	-53.58M	115M	190M	208M
Interest on Long-Term Debt	-	35.66K	81.66K	-	-
Supplemental Operating Expense Items
Selling and Marketing Expenses	66.35M	96.98M	192M	281M	290M
General and Administrative Expenses	27.93M	44.53M	80.99M	189M	210M
Research And Development Expense From Footnotes	123M	288M	379M	576M	756M
Net Rental Expense, Total	-	683K	-	3.72M	5.97M
Imputed Operating Lease Interest Expense	-	-	-	688K	1.27M
Imputed Operating Lease Depreciation	-	-	-	3.03M	4.7M
Stock-Based Comp., COGS (Total)	-	-	-	-	-
Stock-Based Comp., R&D Exp. (Total)	2.08M	983K	11.27M	91.92M	106M
Stock-Based Comp., S&M Exp. (Total)	330K	273K	3.78M	32.78M	50.35M
Stock-Based Comp., G&A Exp. (Total)	4.52M	573K	6.82M	90.65M	74.2M
Stock-Based Comp., Other (Total)	-	82.5K	-	12.4M	-
Total Stock-Based Compensation	6.93M	1.91M	21.88M	228M	231M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1B	965M	3.83B	2.68B	3B
Trading Asset Securities, Total	-	-	46.11M	29.48M	193M
Total Cash And Short Term Investments	1B	965M	3.87B	2.71B	3.2B
Accounts Receivable, Total	74.54M	113M	292M	536M	1.49B
Other Receivables	11.52M	1.73M	6.09M	7.92M	12.03M
Total Receivables	86.06M	115M	298M	544M	1.51B
Inventory	512M	953M	2.3B	4.56B	7.22B
Prepaid Expenses	-	2.43M	-	-	-
Other Current Assets, Total	6.91M	139M	352M	652M	770M
Total Current Assets	1.61B	2.17B	6.82B	8.46B	12.69B
Gross Property Plant And Equipment	220M	361M	489M	875M	1.85B
Accumulated Depreciation	-55.24M	-69.93M	-93.59M	-140M	-212M
Net Property Plant And Equipment	165M	291M	395M	736M	1.64B
Long-term Investments	-	-	20M	489M	723M
Other Intangibles, Total	38.2M	42.65M	43.88M	91.68M	176M
Accounts Receivable Long-Term	-	-	980K	1.45M	-
Deferred Tax Assets Long-Term	-	-	-	10.79M	47.62M
Deferred Charges Long-Term	-	1.35M	1.78M	6.42M	28.81M
Other Long-Term Assets, Total	2.13M	8.38M	31.04M	178M	13.46M
Total Assets	1.81B	2.52B	7.31B	9.97B	15.31B
Liabilities
Accounts Payable, Total	214M	394M	841M	1.07B	2.24B
Accrued Expenses, Total	22.66M	42.02M	79.49M	149M	203M
Short-term Borrowings	-	-	400M	69.98M	119M
Current Portion of Long-Term Debt	-	-	264K	63.33M	729M
Current Portion of Leases	-	628K	1.34M	3.71M	5.66M
Current Income Taxes Payable	-	433K	-	43.83M	8.93K
Unearned Revenue Current, Total	134M	488M	1.4B	1.38B	2.98B
Other Current Liabilities	22.62M	91.34M	228M	200M	546M
Total Current Liabilities	394M	1.02B	2.95B	2.98B	6.83B
Long-Term Debt	-	-	270M	1.87B	2.79B
Long-Term Leases	-	883K	995K	2.41M	8.49M
Unearned Revenue Non Current	270M	258M	289M	401M	354M
Deferred Tax Liability Non Current	-	-	-	6.2M	27.77M
Other Non Current Liabilities	27.62M	49.43M	98.36M	116M	-
Total Liabilities	692M	1.32B	3.61B	5.38B	10.02B
Common Stock, Total	94.86M	94.86M	126M	188M	280M
Additional Paid In Capital	1.28B	1B	3.12B	3.31B	3.48B
Retained Earnings	-253M	94.99M	464M	1.09B	1.72B
Treasury Stock	-	-	-	-	-197M
Comprehensive Income and Other	-	-	-	-6.46K	-322K
Total Common Equity	1.12B	1.19B	3.71B	4.59B	5.28B
Minority Interest	289K	730K	-3.64M	-2.22M	18.92M
Total Equity	1.12B	1.19B	3.71B	4.59B	5.3B
Total Liabilities And Equity	1.81B	2.52B	7.31B	9.97B	15.31B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	208M	277M	277M	278M	278M
ECS Total Common Shares Outstanding	208M	208M	277M	279M	278M
Book Value / Share	5.4	5.74	13.4	16.49	18.96
Tangible Book Value	1.08B	1.15B	3.67B	4.5B	5.1B
Tangible Book Value Per Share	5.22	5.53	13.24	16.16	18.33
Total Debt	0	1.51M	673M	2.01B	3.66B
Net Debt	-1B	-963M	-3.2B	-695M	460M
Debt Equivalent Oper. Leases	-	5.46M	-	29.73M	47.8M
Minority Interest, Total (Incl. Fin. Div)	289K	730K	-3.64M	-2.22M	18.92M
Equity Method Investments, Total	-	-	-	228M	249M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	89.29M	157M	819M	2.18B	2.26B
Inventories - Work In Process, Total	52.91M	54.67M	186M	447M	608M
Inventories - Finished Goods, Total	382M	758M	1.33B	1.99B	4.41B
Buildings, Total	141M	161M	262M	267M	389M
Machinery, Total	79.04M	125M	212M	483M	711M
Full Time Employees	316	-	830	1.07K	1.53K
Accumulated Allowance for Doubtful Accounts (Supple)	2.17M	1.15M	3.66M	11.24M	45.28M
Order Backlog	-	-	4.6B	6.42B	9.4B

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-11.49M	68.49M	369M	663M	688M
Depreciation & Amortization - CF	14.55M	15.24M	24.01M	45.56M	75.86M
Amortization of Goodwill and Intangible Assets - (CF)	2.59M	1.9M	1.83M	1.83M	2.35M
Depreciation & Amortization, Total	17.14M	17.14M	25.84M	47.39M	78.22M
Amortization of Deferred Charges, Total - (CF)	-	756K	3.15M	4.72M	8.11M
(Gain) Loss From Sale Of Asset	4.8K	19.92K	-77.18K	-26.42K	-22.19K
(Gain) Loss on Sale of Investments - (CF)	-	-	-30.15M	-96.22M	-196M
Asset Writedown & Restructuring Costs	4.28M	4.66M	23.45M	-2.95K	-
Provision and Write-off of Bad Debts	-	-	2.56M	8.03M	34.04M
Other Operating Activities, Total	983K	-1.14M	-5.86M	66.39M	101M
Change In Accounts Receivable	28.02M	-132M	-397M	-559M	-1.25B
Change In Inventories	-167M	-448M	-1.41B	-2.42B	-2.74B
Change In Accounts Payable	430M	625M	1.64B	457M	2.79B
Change In Deferred Taxes	-	-	-	-4.64M	-15.25M
Change in Other Net Operating Assets	6.93M	1.91M	22.81M	182M	215M
Cash from Operations	309M	137M	248M	-1.66B	-283M
Capital Expenditure	-6.31M	-150M	-111M	-481M	-686M
Sale of Property, Plant, and Equipment	468K	37.76K	93.08K	119K	83.44K
Sale (Purchase) of Real Estate properties	-	-	-	-9.05M	-
Investment in Marketable and Equity Securities, Total	-	-	-50M	-360M	-205M
Net (Increase) Decrease in Loans Originated / Sold - Investing	-	-	-	-	-4.6M
Other Investing Activities, Total	-	-	9.51M	14.01M	3.11M
Cash from Investing	-5.84M	-150M	-151M	-836M	-892M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	-	670M	1.73B	1.97B
Total Debt Issued	-	-	670M	1.73B	1.97B
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-498K	-1.54M	-402M	-340M
Total Debt Repaid	-	-498K	-1.54M	-402M	-340M
Issuance of Common Stock	313M	-	2.15B	70.74M	67.01M
Repurchase of Common Stock	-	-	-	-	-197M
Common Dividends Paid	-	-	-1.48M	-62.55M	-138M
Common & Preferred Stock Dividends Paid	-	-	-1.48M	-62.55M	-138M
Other Financing Activities, Total	-10.55M	-2.22M	-30.33M	127K	968K
Cash from Financing	302M	-2.72M	2.79B	1.34B	1.36B
Foreign Exchange Rate Adjustments	-1.19M	-380K	3.72M	-2.74M	-2.76M
Net Change in Cash	604M	-15.23M	2.89B	-1.16B	184M
Supplemental Items
Cash Interest Paid	-	-	-	-	32.16K
Cash Income Tax Paid (Refund)	13.43M	49.46M	74.89M	140M	46.37M
Levered Free Cash Flow	55.83M	-180M	-178M	-2.54B	-777M
Unlevered Free Cash Flow	55.83M	-180M	-177M	-2.52B	-730M
Change In Net Working Capital	-81.78M	-16.88M	207M	2.51B	607M
Net Debt Issued / Repaid	-	-498K	668M	1.33B	1.63B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-3.03	-3.1	1.85	2.11	1.95
Return on Total Capital	-4.51	-5.8	3.26	3.32	3.18
Return On Equity %	-1.21	5.78	14.86	16	13.9
Return on Common Equity	-1.19	5.92	15.03	15.96	13.94
Margin Analysis
Gross Profit Margin %	34.06	43.16	47.9	50.38	41.31
SG&A Margin	21.64	18.67	16.02	17.39	12.18
EBITDA Margin %	-12.12	-11.97	9.98	12.47	11.41
EBITA Margin %	-15.46	-13.94	8.63	10.85	9.69
EBIT Margin %	-16.05	-14.19	8.52	10.78	9.63
Income From Continuing Operations Margin %	-2.69	8.83	21.35	24.54	16.75
Net Income Margin %	-2.64	9.04	21.61	24.5	16.77
Net Avail. For Common Margin %	-2.64	9.04	21.61	24.5	16.77
Normalized Net Income Margin	-8.5	-7.07	6.75	7.02	5.06
Levered Free Cash Flow Margin	12.82	-23.77	-10.43	-94.02	-18.93
Unlevered Free Cash Flow Margin	12.82	-23.77	-10.36	-93.3	-17.78
Asset Turnover
Asset Turnover	0.3	0.35	0.35	0.31	0.32
Fixed Assets Turnover	2.54	3.33	4.97	4.78	3.46
Receivables Turnover (Average Receivables)	4.16	7.91	8.42	6.37	3.9
Inventory Turnover (Average Inventory)	0.67	0.59	0.55	0.39	0.41
Short Term Liquidity
Current Ratio	4.09	2.14	2.31	2.84	1.86
Quick Ratio	2.77	1.06	1.42	1.09	0.69
Operating Cash Flow to Current Liabilities	0.78	0.14	0.08	-0.56	-0.04
Days Sales Outstanding (Average Receivables)	88.06	46.12	43.34	57.32	93.8
Days Outstanding Inventory (Average Inventory)	549.19	620.7	667.46	931.82	894.53
Average Days Payable Outstanding	135.46	127.07	100.93	98.39	119.7
Cash Conversion Cycle (Average Days)	501.79	539.75	609.87	890.74	868.62
Long Term Solvency
Total Debt/Equity	-	0.13	18.15	43.78	69
Total Debt / Total Capital	-	0.13	15.36	30.45	40.83
LT Debt/Equity	-	0.07	7.31	40.8	52.89
Long-Term Debt / Total Capital	-	0.07	6.19	28.37	31.29
Total Liabilities / Total Assets	38.12	52.6	49.3	53.94	65.4
EBIT / Interest Expense	-	-	69.6	9.4	5.25
EBITDA / Interest Expense	-	-	81.98	10.92	6.29
(EBITDA - Capex) / Interest Expense	-	-	28.77	-4.57	-2.82
Total Debt / EBITDA	-	-0.02	3.93	5.93	7.72
Net Debt / EBITDA	19.02	10.66	-18.7	-2.05	0.97
Total Debt / (EBITDA - Capex)	-	-0.01	11.2	-14.18	-17.19
Net Debt / (EBITDA - Capex)	16.99	4.01	-53.28	4.9	-2.16
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	73.38	73.99	125.02	58.6	51.7
Gross Profit, 1 Yr. Growth %	85.4	128.66	149.74	66.81	34.81
EBITDA, 1 Yr. Growth %	9.31	1.2K	-288.67	95.98	37.67
EBITA, 1 Yr. Growth %	6.28	390.88	-239.98	96.88	34.18
EBIT, 1 Yr. Growth %	6.17	345.95	-234.9	100.77	35.51
Earnings From Cont. Operations, 1 Yr. Growth %	-39.59	-672.03	444.1	82.33	3.55
Net Income, 1 Yr. Growth %	-40.68	-696.1	438.09	79.82	3.86
Normalized Net Income, 1 Yr. Growth %	-5.3	541	-315.24	64.92	9.33
Diluted EPS Before Extra, 1 Yr. Growth %	-	-694.46	340.28	64.49	3.36
Accounts Receivable, 1 Yr. Growth %	-43.44	50.87	157.6	83.58	178.8
Inventory, 1 Yr. Growth %	46.32	86.13	140.94	98.39	58.37
Net Property, Plant and Equip., 1 Yr. Growth %	-7.39	76.53	35.94	86.11	122.72
Total Assets, 1 Yr. Growth %	68.89	38.79	190.47	36.31	53.61
Tangible Book Value, 1 Yr. Growth %	39.96	6.08	218.94	22.76	13.38
Common Equity, 1 Yr. Growth %	37.82	6.27	211.21	23.77	14.94
Cash From Operations, 1 Yr. Growth %	-1.52K	-55.5	80.12	-769.29	-82.95
Capital Expenditures, 1 Yr. Growth %	-56.1	2.27K	-25.78	332.9	42.72
Levered Free Cash Flow, 1 Yr. Growth %	-198.84	-313.28	-1.34	1.33K	-69.61
Unlevered Free Cash Flow, 1 Yr. Growth %	-199.51	-313.28	-2.05	1.33K	-71.23
Dividend Per Share, 1 Yr. Growth %	-	-	-	99.24	14.16
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	148.32	73.69	97.87	88.91	55.11
Gross Profit, 2 Yr. CAGR %	157.52	102.19	138.97	104.1	44.04
EBITDA, 2 Yr. CAGR %	-37.06	37.04	394.17	93.4	64.94
EBITA, 2 Yr. CAGR %	-32.56	29.11	161.49	67.11	63.31
EBIT, 2 Yr. CAGR %	-31.83	27.76	145.48	64.57	64.94
Earnings From Cont. Operations, 2 Yr. CAGR %	-66.33	85.9	457.89	214.95	37.4
Net Income, 2 Yr. CAGR %	-66.64	88.05	466.35	211.04	36.66
Normalized Net Income, 2 Yr. CAGR %	-36.59	17.06	271.25	88.43	34.28
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	411.59	168.99	30.44
Accounts Receivable, 2 Yr. CAGR %	9.02	-7.29	97.14	117.46	126.23
Inventory, 2 Yr. CAGR %	26.04	65.03	111.77	118.63	77.26
Net Property, Plant and Equip., 2 Yr. CAGR %	-7.15	27.86	54.91	59.06	103.59
Total Assets, 2 Yr. CAGR %	39.93	53.1	100.78	98.99	44.7
Tangible Book Value, 2 Yr. CAGR %	28.81	21.85	83.94	97.87	17.97
Common Equity, 2 Yr. CAGR %	27.15	21.02	81.86	96.26	19.28
Cash From Operations, 2 Yr. CAGR %	55.34	151.38	-10.47	247.2	6.81
Capital Expenditures, 2 Yr. CAGR %	6.48	222.66	319.55	79.25	148.56
Levered Free Cash Flow, 2 Yr. CAGR %	-	78.6	45.15	275.49	108.95
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	79.2	44.61	274.07	103.24
Dividend Per Share, 2 Yr. CAGR %	-	-	-	-	50.82
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	120.56	89.34	83.8	75.59
Gross Profit, 3 Yr. CAGR %	-	144.53	116.93	111.98	73.05
EBITDA, 3 Yr. CAGR %	-	-12.03	52.16	264.46	73.16
EBITA, 3 Yr. CAGR %	-	-10.65	32.42	138.94	55.82
EBIT, 3 Yr. CAGR %	-	-10.6	30.17	129.57	54.25
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-13.45	165.92	284.27	117.37
Net Income, 3 Yr. CAGR %	-	-12.78	166.97	286.35	115.79
Normalized Net Income, 3 Yr. CAGR %	-	-16.51	43.36	183.29	57.16
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	250.38	95.6
Accounts Receivable, 3 Yr. CAGR %	-	21.78	30.33	92.51	136.24
Inventory, 3 Yr. CAGR %	-	43.53	87.22	107.21	96.35
Net Property, Plant and Equip., 3 Yr. CAGR %	-	15.03	30.5	64.68	77.95
Total Assets, 3 Yr. CAGR %	-	39.55	89.53	76.47	82.54
Tangible Book Value, 3 Yr. CAGR %	-	20.74	67.92	60.74	64.34
Common Equity, 3 Yr. CAGR %	-	19.77	65.8	59.97	64.2
Cash From Operations, 3 Yr. CAGR %	-	2.41	124.94	75.06	27.14
Capital Expenditures, 3 Yr. CAGR %	-	199.58	97.7	323.95	66.14
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	46.6	211.09	62.69
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	46.57	210.3	59.34
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	107.31	74.83
Gross Profit, 5 Yr. CAGR %	-	-	-	127.48	84.16
EBITDA, 5 Yr. CAGR %	-	-	-	20.41	57.51
EBITA, 5 Yr. CAGR %	-	-	-	14.67	44.39
EBIT, 5 Yr. CAGR %	-	-	-	14.16	43.1
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	45.1	104.19
Net Income, 5 Yr. CAGR %	-	-	-	45.04	104.23
Normalized Net Income, 5 Yr. CAGR %	-	-	-	15.6	39.66
Accounts Receivable, 5 Yr. CAGR %	-	-	-	53.56	62.5
Inventory, 5 Yr. CAGR %	-	-	-	69.85	83.17
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	30.95	55.91
Total Assets, 5 Yr. CAGR %	-	-	-	60.83	70.14
Tangible Book Value, 5 Yr. CAGR %	-	-	-	47.12	45.81
Common Equity, 5 Yr. CAGR %	-	-	-	45.93	45.34
Cash From Operations, 5 Yr. CAGR %	-	-	-	66.89	66.99
Capital Expenditures, 5 Yr. CAGR %	-	-	-	143.95	116.66
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	68.92
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	67.04