SHANGHAI ZIJIANG ENTERPRISE GROUP CO., LTD.

Balance Sheet Shanghai Zijiang Enterprise Group Co., Ltd.

Equities

600210

CNE000001055

Non-Paper Containers & Packaging

End-of-day quote Shanghai S.E. Other stock markets 2024-09-13			5-day change	1st Jan Change
4.910 ^CNY	-1.60%		-3.54%	+4.47%

08-27	Shanghai Zijiang Enterprise Group Co., Ltd. Reports Earnings Results for the Half Year Ended June 30, 2024	CI
04-29	Shanghai Zijiang Enterprise Group Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

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Published financial data: SHANGHAI ZIJIANG ENTERPRISE GROUP CO., LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	8.82B	8.06B	8.98B	9.2B	8.72B
Other Revenues, Total	396M	360M	545M	413M	393M
Total Revenues	9.21B	8.42B	9.53B	9.61B	9.12B
Cost of Goods Sold, Total	7.35B	6.62B	7.51B	7.63B	7.17B
Gross Profit	1.86B	1.8B	2.02B	1.98B	1.95B
Selling General & Admin Expenses, Total	1B	739M	807M	806M	813M
Provision for Bad Debts	3.45M	2.36M	7.17M	23.24M	11.93M
R&D Expenses	178M	222M	298M	321M	322M
Other Operating Expenses	72.4M	68.54M	122M	76.89M	17.64M
Other Operating Expenses, Total	1.25B	1.03B	1.24B	1.23B	1.16B
Operating Income	602M	766M	784M	749M	784M
Interest Expense, Total	-169M	-142M	-131M	-124M	-104M
Interest And Investment Income	88.44M	87.52M	67.88M	153M	74.67M
Net Interest Expenses	-81.04M	-54.15M	-63M	29.01M	-28.89M
Currency Exchange Gains (Loss)	-1.62M	-2.92M	-1.04M	1.16M	-281K
Other Non Operating Income (Expenses)	-4.66M	-4.9M	-8.28M	-13.35M	-10.3M
EBT, Excl. Unusual Items	515M	704M	712M	766M	744M
Impairment of Goodwill	-	-10.87M	-29.57M	-9.68M	-6.61M
Gain (Loss) On Sale Of Investments	-9.09M	-31.98M	60.02M	-5.26M	9.27M
Gain (Loss) On Sale Of Assets	64.26M	-4M	28.73K	-2.09M	3.71M
Asset Writedown	-14.52M	-2.43M	-6.63M	-3.25M	-6.76M
Other Unusual Items	39.26M	39.1M	24.96M	41.59M	-4.06M
EBT, Incl. Unusual Items	595M	694M	761M	788M	740M
Income Tax Expense	74.71M	99.44M	158M	114M	125M
Earnings From Continuing Operations	520M	595M	603M	674M	615M
Net Income to Company	520M	595M	603M	674M	615M
Minority Interest	-25.67M	-29.42M	-49.49M	-70.64M	-55.04M
Net Income - (IS)	494M	565M	553M	603M	560M
Net Income to Common Incl Extra Items	494M	565M	553M	603M	560M
Net Income to Common Excl. Extra Items	494M	565M	553M	603M	560M
Per Share Items
Net EPS - Basic	0.33	0.37	0.36	0.4	0.37
Basic EPS - Continuing Operations	0.33	0.37	0.36	0.4	0.37
Basic Weighted Average Shares Outstanding	1.52B	1.52B	1.52B	1.52B	1.52B
Net EPS - Diluted	0.33	0.37	0.36	0.4	0.37
Diluted EPS - Continuing Operations	0.33	0.37	0.36	0.4	0.37
Diluted Weighted Average Shares Outstanding	1.52B	1.52B	1.52B	1.52B	1.52B
Normalized Basic EPS	0.2	0.27	0.26	0.27	0.27
Normalized Diluted EPS	0.2	0.27	0.26	0.27	0.27
Dividend Per Share	0.2	0.25	0.25	0.25	0.25
Payout Ratio	80.31	76.69	90.72	84.8	90.28
Supplemental Items
EBITDA	997M	1.17B	1.17B	1.12B	1.18B
EBITA	613M	776M	800M	760M	799M
EBIT	602M	766M	784M	749M	784M
EBITDAR	1.02B	1.19B	1.19B	1.14B	1.2B
Total Revenues (As Reported)	9.21B	8.42B	9.53B	9.61B	9.12B
Effective Tax Rate - (Ratio)	12.56	14.33	20.79	14.45	16.94
Total Current Taxes	74.13M	108M	138M	128M	140M
Total Deferred Taxes	584K	-8.15M	19.71M	-14.37M	-14.83M
Normalized Net Income	296M	411M	396M	408M	410M
Interest Capitalized	-	-	137K	2.47M	135K
Interest on Long-Term Debt	-	7.68M	9.14M	11.47M	4.7M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Marketing Expenses	41.79M	34.43M	40.99M	38.27M	20.34M
Selling and Marketing Expenses	416M	218M	219M	213M	186M
General and Administrative Expenses	572M	503M	582M	589M	623M
Research And Development Expense From Footnotes	178M	222M	298M	321M	322M
Net Rental Expense, Total	20.75M	24.59M	20.77M	14.92M	24M
Imputed Operating Lease Interest Expense	7.57M	7.97M	6.45M	4.3M	5.74M
Imputed Operating Lease Depreciation	13.19M	16.62M	14.32M	10.61M	18.27M
Stock-Based Comp., Other (Total)	127K	304K	304K	304K	407K
Total Stock-Based Compensation	127K	304K	304K	304K	407K

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.58B	1.65B	1.72B	1.68B	2.56B
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	6.11M	-	-	-	-
Total Cash And Short Term Investments	1.58B	1.65B	1.72B	1.68B	2.56B
Accounts Receivable, Total	1.61B	1.63B	1.87B	2.05B	1.79B
Other Receivables	116M	93.24M	104M	98.48M	72.24M
Notes Receivable	-	-	9.5M	-	-
Total Receivables	1.72B	1.72B	1.98B	2.15B	1.86B
Inventory	1.81B	1.82B	2.21B	2.3B	2.53B
Prepaid Expenses	2.79M	1.62M	11.54M	2.29M	3.58M
Other Current Assets, Total	389M	474M	568M	412M	513M
Total Current Assets	5.51B	5.67B	6.5B	6.54B	7.47B
Gross Property Plant And Equipment	7.82B	7.81B	8.24B	8.78B	9.47B
Accumulated Depreciation	-4.9B	-5.09B	-5.34B	-5.64B	-5.94B
Net Property Plant And Equipment	2.92B	2.72B	2.91B	3.14B	3.53B
Long-term Investments	1.67B	1.88B	1.96B	1.6B	1.83B
Goodwill	145M	134M	104M	94.01M	87.4M
Other Intangibles, Total	215M	245M	257M	249M	253M
Accounts Receivable Long-Term	15.55M	14.24M	10.41M	5.09M	1.8M
Loans Receivable Long-Term	9.5M	9.5M	-	-	-
Deferred Tax Assets Long-Term	38.42M	70.91M	56.75M	52.17M	64.48M
Deferred Charges Long-Term	52.1M	56.38M	65.31M	81.07M	118M
Other Long-Term Assets, Total	207M	264M	301M	307M	342M
Total Assets	10.78B	11.07B	12.16B	12.08B	13.69B
Liabilities
Accounts Payable, Total	1.1B	1.09B	1.47B	1.24B	1.27B
Accrued Expenses, Total	290M	312M	434M	453M	376M
Short-term Borrowings	3.04B	1.99B	1.98B	1.95B	2.29B
Current Portion of Long-Term Debt	-	-	-	99.61M	71.46M
Current Portion of Leases	-	390K	12.47M	13.55M	15M
Current Income Taxes Payable	31.73M	37.64M	40.04M	74.63M	48.21M
Unearned Revenue Current, Total	-	158M	375M	166M	1.52B
Other Current Liabilities	426M	239M	244M	423M	630M
Total Current Liabilities	4.88B	3.83B	4.56B	4.41B	6.22B
Long-Term Debt	592M	1.37B	1.36B	1.51B	925M
Long-Term Leases	-	809K	41.28M	46.53M	30.16M
Unearned Revenue Non Current	38.12M	45.9M	50.79M	53.5M	113M
Deferred Tax Liability Non Current	103M	193M	209M	131M	155M
Total Liabilities	5.61B	5.44B	6.22B	6.15B	7.44B
Common Stock, Total	1.52B	1.52B	1.52B	1.52B	1.52B
Additional Paid In Capital	362M	318M	353M	288M	293M
Retained Earnings	2.89B	3.15B	3.32B	3.55B	3.73B
Comprehensive Income and Other	153M	330M	353M	159M	234M
Total Common Equity	4.92B	5.31B	5.54B	5.51B	5.77B
Minority Interest	249M	313M	400M	413M	486M
Total Equity	5.17B	5.63B	5.94B	5.92B	6.26B
Total Liabilities And Equity	10.78B	11.07B	12.16B	12.08B	13.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.52B	1.52B	1.52B	1.52B	1.52B
ECS Total Common Shares Outstanding	1.52B	1.52B	1.52B	1.52B	1.52B
Book Value / Share	3.24	3.5	3.66	3.63	3.8
Tangible Book Value	4.56B	4.93B	5.18B	5.17B	5.43B
Tangible Book Value Per Share	3.01	3.25	3.42	3.41	3.58
Total Debt	3.63B	3.36B	3.39B	3.62B	3.33B
Net Debt	2.04B	1.71B	1.67B	1.93B	762M
Debt Equivalent Oper. Leases	166M	197M	166M	119M	192M
Minority Interest, Total (Incl. Fin. Div)	249M	313M	400M	413M	486M
Equity Method Investments, Total	336M	326M	318M	335M	325M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	292M	331M	457M	482M	478M
Inventories - Work In Process, Total	640M	639M	865M	1.02B	1.19B
Inventories - Finished Goods, Total	846M	810M	853M	752M	811M
Inventories - Others	38.14M	36.52M	37.82M	42.06M	44.7M
Buildings, Total	2.28B	2.22B	2.23B	2.45B	2.66B
Machinery, Total	5.4B	5.42B	5.58B	5.8B	6.12B
Full Time Employees	7.03K	7.07K	6.9K	6.84K	6.94K
Accumulated Allowance for Doubtful Accounts (Supple)	34.43M	29.84M	45M	51.54M	64.19M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	494M	565M	553M	603M	560M
Depreciation & Amortization - CF	383M	390M	389M	382M	396M
Amortization of Goodwill and Intangible Assets - (CF)	11.24M	9.77M	15.55M	10.81M	15.03M
Depreciation & Amortization, Total	395M	400M	404M	393M	411M
Amortization of Deferred Charges, Total - (CF)	22.67M	24.43M	32.16M	36.46M	35.89M
(Gain) Loss From Sale Of Asset	-64.26M	4M	-28.73K	2.09M	-3.71M
(Gain) Loss on Sale of Investments - (CF)	-52.17M	-31.32M	-104M	-118M	-55.36M
Asset Writedown & Restructuring Costs	14.52M	13.86M	36.2M	12.92M	13.38M
Provision and Write-off of Bad Debts	3.61M	2.9M	7.56M	22.36M	11.94M
Other Operating Activities, Total	201M	175M	192M	209M	168M
Change In Accounts Receivable	122M	-152M	-847M	-47.09M	170M
Change In Inventories	9.52M	-2.8M	-397M	-83.3M	-211M
Change In Accounts Payable	-154M	12.76M	1.14B	-253M	1.58B
Change In Deferred Taxes	-3.67M	56.85M	18.63M	-14.37M	-14.83M
Change in Other Net Operating Assets	-	-	-	-	26.71M
Cash from Operations	989M	1.07B	1.03B	763M	2.7B
Capital Expenditure	-368M	-371M	-613M	-601M	-966M
Sale of Property, Plant, and Equipment	177M	54.82M	50.13M	31.74M	33.71M
Cash Acquisitions	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-19.61M	-79.49M	24.93M	84.14M	-121M
Net (Increase) Decrease in Loans Originated / Sold - Investing	0	-	-	-	-
Other Investing Activities, Total	48.73M	51.18M	36.27M	32.24M	34.3M
Cash from Investing	-162M	-345M	-502M	-453M	-1.02B
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	5.12B	3.06B	2.94B	3.53B	3B
Total Debt Issued	5.12B	3.06B	2.94B	3.53B	3B
Short Term Debt Repaid, Total	-	-	-500M	-	-
Long-Term Debt Repaid, Total	-5.31B	-4.03B	-2.5B	-3.34B	-3.29B
Total Debt Repaid	-5.31B	-4.03B	-3B	-3.34B	-3.29B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-397M	-433M	-502M	-511M	-505M
Common & Preferred Stock Dividends Paid	-397M	-433M	-502M	-511M	-505M
Other Financing Activities, Total	-12.17M	777M	71.23M	-17.92M	22.03M
Cash from Financing	-598M	-631M	-487M	-337M	-768M
Foreign Exchange Rate Adjustments	2.96M	-914K	-1.94M	86.61K	-827K
Net Change in Cash	232M	92.24M	42.16M	-26.71M	907M
Supplemental Items
Cash Income Tax Paid (Refund)	432M	454M	535M	343M	662M
Levered Free Cash Flow	279M	353M	194M	-78.67M	1.36B
Unlevered Free Cash Flow	385M	441M	276M	-1.25M	1.42B
Change In Net Working Capital	40.44M	90.85M	37.91M	298M	-1.45B
Net Debt Issued / Repaid	-189M	-974M	-56.17M	193M	-285M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	3.56	4.38	4.22	3.87	3.8
Return on Total Capital	4.35	5.39	5.35	4.96	5.12
Return On Equity %	10.53	11.02	10.42	11.36	10.09
Return on Common Equity	10.53	11.05	10.19	10.91	9.92
Margin Analysis
Gross Profit Margin %	20.16	21.36	21.19	20.58	21.37
SG&A Margin	10.86	8.78	8.47	8.39	8.92
EBITDA Margin %	10.82	13.86	12.29	11.67	12.93
EBITA Margin %	6.66	9.22	8.39	7.91	8.76
EBIT Margin %	6.54	9.1	8.23	7.8	8.6
Income From Continuing Operations Margin %	5.64	7.06