We Think Zhejiang Akcome New Energy TechnologyLtd (SZSE:002610) Has A Fair Chunk Of Debt
We Think Zhejiang Akcome New Energy TechnologyLtd (SZSE:002610) Has A Fair Chunk Of Debt
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. Importantly, Zhejiang Akcome New Energy Technology Co.,Ltd. (SZSE:002610) does carry debt. But should shareholders be worried about its use of debt?
大衛·伊本說得很好,他說:“波動性不是我們關心的風險。我們關心的是避免資本的永久損失。”因此,當你評估公司的風險時,聰明的貨幣似乎知道債務——通常與破產有關——是一個非常重要的因素。重要的是,浙江愛康新能源科技有限公司, Ltd.(深圳證券交易所:002610)確實有債務。但是,股東是否應該擔心其使用債務?
When Is Debt Dangerous?
債務何時危險?
Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more usual (but still expensive) situation is where a company must dilute shareholders at a cheap share price simply to get debt under control. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
債務可以爲企業提供幫助,直到企業難以償還債務,無論是新資本還是自由現金流。資本主義的重要組成部分是 “創造性破壞” 的過程,在這個過程中,倒閉的企業將被銀行家無情地清算。但是,更常見(但仍然昂貴)的情況是,公司必須以低廉的股價稀釋股東才能控制債務。話雖如此,最常見的情況是公司合理地管理其債務,並從自己的利益出發。在考慮企業使用多少債務時,要做的第一件事是將現金和債務放在一起看。
Check out our latest analysis for Zhejiang Akcome New Energy TechnologyLtd
查看我們對浙江愛康新能源科技有限公司的最新分析
What Is Zhejiang Akcome New Energy TechnologyLtd's Debt?
浙江愛康新能源科技有限公司的債務是什麼?
As you can see below, Zhejiang Akcome New Energy TechnologyLtd had CN¥3.57b of debt at September 2023, down from CN¥3.98b a year prior. However, it also had CN¥2.05b in cash, and so its net debt is CN¥1.53b.
如下所示,截至2023年9月,浙江愛康新能源科技有限公司的債務爲35.7億元人民幣,低於去年同期的39.8億元人民幣。但是,它也有20.5億元人民幣的現金,因此其淨負債爲153億元人民幣。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231123/0-4cf0063d748b0959a3515a468df07f2f-0-be2778e3c2697a8223049132e0953159.png/big)
How Healthy Is Zhejiang Akcome New Energy TechnologyLtd's Balance Sheet?
浙江愛康新能源科技有限公司的資產負債表有多健康?
The latest balance sheet data shows that Zhejiang Akcome New Energy TechnologyLtd had liabilities of CN¥7.75b due within a year, and liabilities of CN¥545.5m falling due after that. On the other hand, it had cash of CN¥2.05b and CN¥3.00b worth of receivables due within a year. So it has liabilities totalling CN¥3.25b more than its cash and near-term receivables, combined.
最新的資產負債表數據顯示,浙江愛康新能源科技有限公司在一年內到期的負債爲77.5億元人民幣,此後到期的負債爲5.455億元人民幣。另一方面,它在一年內有20.5億元人民幣的現金和價值300億元人民幣的應收賬款。因此,它的負債總額比其現金和短期應收賬款的總和高出32.5億元人民幣。
While this might seem like a lot, it is not so bad since Zhejiang Akcome New Energy TechnologyLtd has a market capitalization of CN¥10.1b, and so it could probably strengthen its balance sheet by raising capital if it needed to. But it's clear that we should definitely closely examine whether it can manage its debt without dilution. The balance sheet is clearly the area to focus on when you are analysing debt. But you can't view debt in total isolation; since Zhejiang Akcome New Energy TechnologyLtd will need earnings to service that debt. So if you're keen to discover more about its earnings, it might be worth checking out this graph of its long term earnings trend.
儘管這可能看起來很多,但還不錯,因爲浙江愛康新能源科技有限公司的市值爲101億元人民幣,因此,如果需要,它可能會通過籌集資金來加強資產負債表。但很明顯,我們絕對應該仔細研究它能否在不稀釋的情況下管理債務。資產負債表顯然是分析債務時需要關注的領域。但是你不能完全孤立地看待債務;因爲浙江愛康新能源科技有限公司需要收益來償還這筆債務。因此,如果你想進一步了解其收益,可能值得看看這張長期收益趨勢圖。
Over 12 months, Zhejiang Akcome New Energy TechnologyLtd reported revenue of CN¥6.1b, which is a gain of 26%, although it did not report any earnings before interest and tax. Shareholders probably have their fingers crossed that it can grow its way to profits.
在過去的12個月中,浙江愛康新能源科技有限公司公佈的收入爲61億元人民幣,增長26%,儘管該公司沒有公佈任何息稅前收益。股東們可能對它能夠以增長的方式獲利感到不安。
Caveat Emptor
Caveat Emptor
Even though Zhejiang Akcome New Energy TechnologyLtd managed to grow its top line quite deftly, the cold hard truth is that it is losing money on the EBIT line. To be specific the EBIT loss came in at CN¥267m. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. So we think its balance sheet is a little strained, though not beyond repair. However, it doesn't help that it burned through CN¥202m of cash over the last year. So to be blunt we think it is risky. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For example - Zhejiang Akcome New Energy TechnologyLtd has 1 warning sign we think you should be aware of.
儘管浙江愛康新能源科技有限公司設法相當巧妙地增長了收入,但冷酷的事實是,它在息稅前利潤方面正在虧損。具體而言,息稅前利潤虧損爲2.67億元人民幣。考慮到除了上述負債外,我們對公司應該使用如此多的債務沒有太大信心。因此,我們認爲其資產負債表有些緊張,儘管並非無法修復。但是,它在去年耗盡了2.02億元人民幣的現金,這無濟於事。因此,坦率地說,我們認爲這是有風險的。在分析債務水平時,資產負債表顯然是起點。但歸根結底,每家公司都可以控制資產負債表之外的風險。例如,浙江愛康新能源科技有限公司有 1 個警告標誌,我們認爲你應該注意。
If, after all that, you're more interested in a fast growing company with a rock-solid balance sheet, then check out our list of net cash growth stocks without delay.
畢竟,如果你對一家資產負債表堅如磐石的快速成長型公司更感興趣,那麼請立即查看我們的淨現金增長股票清單。
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Simply Wall St的這篇文章本質上是籠統的。我們僅使用公正的方法根據歷史數據和分析師的預測提供評論,我們的文章無意作爲財務建議。它不構成買入或賣出任何股票的建議,也沒有考慮到您的目標或財務狀況。我們的目標是爲您提供由基本數據驅動的長期重點分析。請注意,我們的分析可能不考慮最新的價格敏感型公司公告或定性材料。簡而言之,華爾街沒有持有任何上述股票的頭寸。