Income Statement XXF Group Holdings Limited

Equities

2473

KYG9831F1054

Consumer Lending

Market Closed - Hong Kong S.E. Other stock markets 04:08:15 2024-09-17 EDT			5-day change	1st Jan Change
7.450 ^HKD	-4.12%		-2.74%	+248.13%

08-19	XXF Group Reports Lower H1 Profit	MT
08-18	XXF Group Holdings Limited Reports Earnings Results for the Half Year Ended June 30, 2024	CI

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Published financial data: XXF GROUP HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023
Revenues	515M	937M	879M	1.01B
Total Revenues	515M	937M	879M	1.01B
Cost of Goods Sold, Total	452M	819M	777M	885M
Finance Div. Operating Exp.	-235M	-235M	-262M	-294M
Gross Profit	297M	352M	364M	419M
Selling General & Admin Expenses, Total	170M	181M	177M	232M
Provision for Bad Debts	2.1M	3.87M	4.88M	4.53M
R&D Expenses	423K	2.11M	722K	413K
Other Operating Expenses	9.72M	-3.2M	-7.73M	-16.58M
Other Operating Expenses, Total	183M	184M	174M	220M
Operating Income	115M	168M	190M	199M
Interest Expense, Total	-111M	-120M	-144M	-163M
Interest And Investment Income	1.85M	1.32M	973K	1.64M
Net Interest Expenses	-109M	-119M	-143M	-161M
EBT, Excl. Unusual Items	5.53M	49.3M	46.58M	37.2M
Gain (Loss) On Sale Of Investments	-6.93M	-4.15M	47.25M	96.39M
Gain (Loss) On Sale Of Assets	-927K	-2.82M	-2.06M	-3.75M
Other Unusual Items	23.3M	683K	-	-
EBT, Incl. Unusual Items	20.97M	43.01M	91.77M	130M
Income Tax Expense	10.72M	12.32M	14.69M	20.02M
Earnings From Continuing Operations	10.25M	30.69M	77.08M	110M
Net Income to Company	10.25M	30.69M	77.08M	110M
Minority Interest	2.09M	3.42M	1.83M	420K
Net Income - (IS)	12.34M	34.11M	78.91M	110M
Net Income to Common Incl Extra Items	12.34M	34.11M	78.91M	110M
Net Income to Common Excl. Extra Items	12.34M	34.11M	78.91M	110M
Per Share Items
Net EPS - Basic	0.04	0.11	0.25	0.3
Basic EPS - Continuing Operations	0.04	0.11	0.25	0.3
Basic Weighted Average Shares Outstanding	320M	320M	320M	365M
Net EPS - Diluted	0.04	0.1	0.08	0.03
Diluted EPS - Continuing Operations	0.04	0.1	0.08	0.03
Diluted Weighted Average Shares Outstanding	320M	386M	389M	430M
Normalized Basic EPS	0.02	0.11	0.1	0.06
Normalized Diluted EPS	0.02	0.09	0.08	0.06
Payout Ratio	1.89K	18.54	-	-
Supplemental Items
EBITDA	193M	263M	281M	307M
EBITA	115M	168M	190M	199M
EBIT	115M	168M	190M	199M
EBITDAR	195M	268M	284M	309M
Effective Tax Rate - (Ratio)	51.1	28.65	16.01	15.41
Current Foreign Taxes	1.89M	15.94M	11.97M	12.32M
Total Current Taxes	1.89M	15.94M	11.97M	12.32M
Deferred Foreign Taxes	8.83M	-3.61M	2.72M	7.7M
Total Deferred Taxes	8.83M	-3.61M	2.72M	7.7M
Normalized Net Income	5.54M	34.24M	30.95M	23.67M
Interest on Long-Term Debt	1.45M	876K	803K	732K
Supplemental Operating Expense Items
Advertising Expense	8.54M	10.83M	8.42M	10.98M
Selling and Marketing Expenses	66.71M	69.64M	68.21M	98.72M
General and Administrative Expenses	102M	108M	106M	133M
Research And Development Expense From Footnotes	9.11M	13.87M	13.34M	11.95M
Net Rental Expense, Total	2.4M	4.3M	2.58M	2.94M
Imputed Operating Lease Interest Expense	-	3.2M	1.91M	2.12M
Imputed Operating Lease Depreciation	-	1.09M	679K	812K
Maintenance & Repair Expenses, Total	6.32M	9.81M	10.38M	12.59M

Fiscal Period: December	2020	2021	2022	2023
Assets
Cash And Equivalents	11.88M	79.37M	201M	268M
Short Term Investments	13.43M	24.27M	18.53M	19.15M
Total Cash And Short Term Investments	25.31M	104M	220M	287M
Accounts Receivable, Total	386M	471M	570M	699M
Other Receivables	137M	105M	122M	127M
Total Receivables	523M	576M	692M	826M
Inventory	184M	203M	256M	218M
Prepaid Expenses	45.68M	54.8M	64.42M	66.96M
Restricted Cash	9.68M	5M	4.53M	5.65M
Other Current Assets, Total	6.26M	4.48M	5.17M	44.5M
Total Current Assets	794M	947M	1.24B	1.45B
Gross Property Plant And Equipment	583M	601M	627M	740M
Accumulated Depreciation	-152M	-248M	-259M	-312M
Net Property Plant And Equipment	431M	353M	368M	428M
Long-term Investments	-	25.99M	21.65M	20.02M
Other Intangibles, Total	26.66M	24.12M	21.78M	19.7M
Accounts Receivable Long-Term	622M	833M	910M	967M
Deferred Tax Assets Long-Term	3.01M	6.62M	3.9M	-
Other Long-Term Assets, Total	20.65M	13.04M	32.16M	36.89M
Total Assets	1.9B	2.2B	2.6B	2.92B
Liabilities
Accounts Payable, Total	41.56M	68.46M	106M	136M
Accrued Expenses, Total	17.68M	20.57M	27.68M	22.86M
Current Portion of Long-Term Debt	709M	727M	829M	920M
Current Portion of Leases	6.42M	5.78M	6.09M	6.76M
Current Income Taxes Payable	4.25M	11.22M	8.79M	9.58M
Unearned Revenue Current, Total	2M	1.64M	910K	5.56M
Other Current Liabilities	71.06M	260M	222M	81.55M
Total Current Liabilities	852M	1.09B	1.2B	1.18B
Long-Term Debt	447M	656M	885M	946M
Long-Term Leases	12.74M	8.52M	7.77M	8.14M
Deferred Tax Liability Non Current	-	-	-	3.8M
Other Non Current Liabilities	178M	-	-	-
Total Liabilities	1.49B	1.76B	2.09B	2.14B
Common Stock, Total	2.86M	2.86M	2.86M	4.66M
Additional Paid In Capital	326M	326M	326M	485M
Retained Earnings	79.79M	114M	193M	305M
Comprehensive Income and Other	-12.18M	-7.53M	-21.51M	-19.65M
Total Common Equity	397M	435M	500M	775M
Minority Interest	11.63M	8.21M	6.38M	5.96M
Total Equity	408M	444M	507M	781M
Total Liabilities And Equity	1.9B	2.2B	2.6B	2.92B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	320M	320M	320M	516M
ECS Total Common Shares Outstanding	320M	320M	320M	516M
Book Value / Share	1.24	1.36	1.56	1.5
Tangible Book Value	370M	411M	478M	756M
Tangible Book Value Per Share	1.16	1.29	1.5	1.47
Total Debt	1.18B	1.4B	1.73B	1.88B
Net Debt	1.15B	1.29B	1.51B	1.59B
Debt Equivalent Oper. Leases	19.22M	34.36M	20.67M	23.48M
Minority Interest, Total (Incl. Fin. Div)	11.63M	8.21M	6.38M	5.96M
Account Code - Inventory Valuation	-	-	3	3
Inventories - Finished Goods, Total	148M	150M	200M	178M
Buildings, Total	4.64M	4.64M	4.64M	4.64M
Machinery, Total	513M	522M	541M	645M
Full Time Employees	-	-	-	1.15K
Accumulated Allowance for Doubtful Accounts (Supple)	269K	285K	627K	1.07M

Fiscal Period: December	2020	2021	2022	2023
Net Income	12.34M	34.11M	78.91M	110M
Depreciation & Amortization - CF	87M	103M	98.27M	114M
Depreciation & Amortization, Total	87M	103M	98.27M	114M
Amortization of Deferred Charges, Total - (CF)	10.36M	14.03M	13.61M	11.77M
(Gain) Loss From Sale Of Asset	927K	2.82M	2.06M	3.75M
(Gain) Loss on Sale of Investments - (CF)	6.93M	4.16M	-49.25M	-94.77M
Provision and Write-off of Bad Debts	2.1M	3.87M	4.88M	4.53M
Other Operating Activities, Total	-20.65M	27.05M	4.9M	16.65M
Change In Accounts Receivable	100M	-288M	-208M	-170M
Change In Inventories	41.48M	-10.64M	-58.64M	-46.51M
Change In Accounts Payable	-1M	27.76M	38.48M	52.61M
Change in Other Net Operating Assets	-9.68M	4.68M	466K	-1.12M
Cash from Operations	230M	-77.41M	-74M	1.32M
Capital Expenditure	-167M	-45.62M	-138M	-150M
Sale of Property, Plant, and Equipment	8.02M	24.62M	29.82M	40.54M
Sale (Purchase) of Real Estate properties	-	-	-	-44.5M
Sale (Purchase) of Intangible assets	-13.1M	-11.48M	-11.27M	-9.69M
Investment in Marketable and Equity Securities, Total	-	-26M	-	-
Other Investing Activities, Total	763K	320K	228K	647K
Cash from Investing	-171M	-58.17M	-119M	-163M
Long-Term Debt Issued, Total	639M	1.17B	1.34B	1.32B
Total Debt Issued	639M	1.17B	1.34B	1.32B
Long-Term Debt Repaid, Total	-782M	-972M	-1.01B	-1.17B
Total Debt Repaid	-782M	-972M	-1.01B	-1.17B
Issuance of Common Stock	214M	20M	-	91.24M
Common Dividends Paid	-233M	-6.32M	-	-
Common & Preferred Stock Dividends Paid	-233M	-6.32M	-	-
Other Financing Activities, Total	-971K	-7.65M	-13.07M	-7.68M
Cash from Financing	-163M	203M	315M	229M
Foreign Exchange Rate Adjustments	-2.93M	-	11K	113K
Miscellaneous Cash Flow Adjustments	-	1K	-	-1K
Net Change in Cash	-107M	67.49M	122M	66.66M
Supplemental Items
Cash Interest Paid	126M	98.38M	143M	163M
Cash Income Tax Paid (Refund)	15.74M	8.96M	14.41M	11.52M
Levered Free Cash Flow	-	240M	-184M	-262M
Unlevered Free Cash Flow	-	315M	-94.11M	-160M
Change In Net Working Capital	-	-150M	175M	250M
Net Debt Issued / Repaid	-143M	197M	328M	145M

Fiscal Period: December	2020	2021	2022	2023
Profitability
Return on Assets	-	5.12	4.94	4.5
Return on Total Capital	-	6.13	5.82	5.07
Return On Equity %	-	7.21	16.23	17.05
Return on Common Equity	-	8.2	16.87	17.28
Margin Analysis
Gross Profit Margin %	57.72	37.57	41.42	41.48
SG&A Margin	33.07	19.36	20.09	22.96
EBITDA Margin %	37.39	28.11	31.96	30.34
EBITA Margin %	22.27	17.91	21.57	19.67
EBIT Margin %	22.27	17.91	21.57	19.67
Income From Continuing Operations Margin %	1.99	3.28	8.77	10.87
Net Income Margin %	2.4	3.64	8.98	10.91
Net Avail. For Common Margin %	2.4	3.64	8.98	10.91
Normalized Net Income Margin	1.08	3.66	3.52	2.34
Levered Free Cash Flow Margin	-	25.62	-20.94	-25.91
Unlevered Free Cash Flow Margin	-	33.61	-10.71	-15.81
Asset Turnover
Asset Turnover	-	0.46	0.37	0.37
Fixed Assets Turnover	-	2.39	2.44	2.54
Receivables Turnover (Average Receivables)	-	2.19	1.69	1.59
Inventory Turnover (Average Inventory)	-	4.23	3.39	3.73
Short Term Liquidity
Current Ratio	0.93	0.87	1.03	1.23
Quick Ratio	0.64	0.62	0.76	0.94
Operating Cash Flow to Current Liabilities	0.27	-0.07	-0.06	0
Days Sales Outstanding (Average Receivables)	-	167.03	216.16	229.3
Days Outstanding Inventory (Average Inventory)	-	86.19	107.74	97.76
Average Days Payable Outstanding	-	23.95	38.32	51.96
Cash Conversion Cycle (Average Days)	-	229.27	285.57	275.1
Long Term Solvency
Total Debt/Equity	287.9	315.01	340.94	240.65
Total Debt / Total Capital	74.22	75.9	77.32	70.64
LT Debt/Equity	112.73	149.88	176.19	122.06
Long-Term Debt / Total Capital	29.06	36.11	39.96	35.83
Total Liabilities / Total Assets	78.49	79.87	80.51	73.25
EBIT / Interest Expense	1.03	1.4	1.32	1.22
EBITDA / Interest Expense	1.82	2.26	2	1.92
(EBITDA - Capex) / Interest Expense	0.31	1.88	1.04	1
Total Debt / EBITDA	5.83	5.17	6	6.01
Net Debt / EBITDA	5.7	4.78	5.24	5.09
Total Debt / (EBITDA - Capex)	33.78	6.22	11.52	11.56
Net Debt / (EBITDA - Capex)	33.05	5.75	10.05	9.79
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	81.86	-6.16	14.91
Gross Profit, 1 Yr. Growth %	-	18.39	3.44	11.9
EBITDA, 1 Yr. Growth %	-	36.7	6.71	9.1
EBITA, 1 Yr. Growth %	-	46.3	12.99	4.8
EBIT, 1 Yr. Growth %	-	46.3	12.99	4.8
Earnings From Cont. Operations, 1 Yr. Growth %	-	199.3	151.19	42.49
Net Income, 1 Yr. Growth %	-	176.41	131.34	39.72
Normalized Net Income, 1 Yr. Growth %	-	517.83	-9.62	-23.5
Diluted EPS Before Extra, 1 Yr. Growth %	-	157.06	-17.95	-58.05
Accounts Receivable, 1 Yr. Growth %	-	22.01	20.98	22.66
Inventory, 1 Yr. Growth %	-	10.48	25.98	-14.66
Net Property, Plant and Equip., 1 Yr. Growth %	-	-18.1	4.12	16.42
Total Assets, 1 Yr. Growth %	-	16.08	17.97	12.4
Tangible Book Value, 1 Yr. Growth %	-	11.17	16.36	57.96
Common Equity, 1 Yr. Growth %	-	9.78	14.92	55.03
Cash From Operations, 1 Yr. Growth %	-	-133.67	-4.4	-101.78
Capital Expenditures, 1 Yr. Growth %	-	-72.67	202.29	9
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-176.72	42.15
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-129.89	69.73
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	30.64	3.85
Gross Profit, 2 Yr. CAGR %	-	-	10.66	9.11
EBITDA, 2 Yr. CAGR %	-	-	20.78	7.9
EBITA, 2 Yr. CAGR %	-	-	28.57	8.82
EBIT, 2 Yr. CAGR %	-	-	28.57	8.82
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	174.19	89.19
Net Income, 2 Yr. CAGR %	-	-	152.87	79.78
Normalized Net Income, 2 Yr. CAGR %	-	-	136.31	-16.85
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	45.23	-43.03
Accounts Receivable, 2 Yr. CAGR %	-	-	21.5	21.82
Inventory, 2 Yr. CAGR %	-	-	17.98	3.69
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-7.65	10.1
Total Assets, 2 Yr. CAGR %	-	-	17.02	15.15
Tangible Book Value, 2 Yr. CAGR %	-	-	13.73	35.58
Common Equity, 2 Yr. CAGR %	-	-	12.32	33.47
Cash From Operations, 2 Yr. CAGR %	-	-	-43.26	-86.96
Capital Expenditures, 2 Yr. CAGR %	-	-	-9.1	81.52
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	4.43
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-28.77
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	25.17
Gross Profit, 3 Yr. CAGR %	-	-	-	12.12
EBITDA, 3 Yr. CAGR %	-	-	-	16.76
EBITA, 3 Yr. CAGR %	-	-	-	20.1
EBIT, 3 Yr. CAGR %	-	-	-	20.1
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	120.44
Net Income, 3 Yr. CAGR %	-	-	-	107.5
Normalized Net Income, 3 Yr. CAGR %	-	-	-	62.26
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	-5.86
Accounts Receivable, 3 Yr. CAGR %	-	-	-	21.88
Inventory, 3 Yr. CAGR %	-	-	-	5.9
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	-0.24
Total Assets, 3 Yr. CAGR %