Is Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd (SHSE:600363) Weighed On By Its Debt Load?
Is Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd (SHSE:600363) Weighed On By Its Debt Load?
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 might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We note that Jiangxi Lianchuang Opto-Electronic Science&Technologyco.,Ltd (SHSE:600363) does have debt on its balance sheet. But should shareholders be worried about its use of debt?
大衛·伊本說得好,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,很明顯,當你考慮任何給定股票的風險時,你需要考慮債務,因爲過多的債務會使公司陷入困境。我們注意到江西聯創光電科技股份有限公司, Ltd(上海證券交易所股票代碼:600363)的資產負債表上確實有債務。但是,股東是否應該擔心其債務的使用?
When Is Debt Dangerous?
債務何時危險?
Generally speaking, debt only becomes a real problem when a company can't easily pay it off, either by raising capital or with its own cash flow. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. By replacing dilution, though, debt can be an extremely good tool for businesses that need capital to invest in growth at high rates of return. The first step when considering a company's debt levels is to consider its cash and debt together.
一般而言,只有當公司無法通過籌集資金或利用自己的現金流輕鬆還清債務時,債務才會成爲真正的問題。最終,如果公司無法履行償還債務的法律義務,股東可能一無所有地離開。但是,更頻繁(但仍然代價高昂)的情況是,公司必須以低廉的價格發行股票,永久稀釋股東,以支撐其資產負債表。但是,通過取代稀釋,債務可以成爲需要資本以高回報率投資增長的企業的一個非常好的工具。考慮公司債務水平的第一步是將其現金和債務放在一起考慮。
Check out our latest analysis for Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd
查看我們對江西聯創光電科技有限公司的最新分析
What Is Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd's Debt?
江西聯創光電科技有限公司的債務是多少?
The image below, which you can click on for greater detail, shows that at September 2023 Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd had debt of CN¥1.46b, up from CN¥1.37b in one year. But it also has CN¥1.63b in cash to offset that, meaning it has CN¥176.4m net cash.
您可以點擊下圖查看更多詳情,該圖片顯示,截至2023年9月,江西聯創光電科技有限公司的債務爲14.6億元人民幣,高於一年的13.7億元人民幣。但它也有16.3億加元的現金來抵消這一點,這意味着它有1.764億元的淨現金。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240114/0-ebb9e9f3cc31ea5ad128a86ab015080e-0-862cdb13c930321c6f0d85ee3e78e0cd.png/big)
How Strong Is Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd's Balance Sheet?
江西聯創光電科技股份有限公司的資產負債表有多強?
According to the last reported balance sheet, Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd had liabilities of CN¥2.57b due within 12 months, and liabilities of CN¥471.9m due beyond 12 months. On the other hand, it had cash of CN¥1.63b and CN¥1.27b worth of receivables due within a year. So its liabilities total CN¥137.7m more than the combination of its cash and short-term receivables.
根據上次報告的資產負債表,江西聯創光電科技有限公司的負債爲25.7億元人民幣,12個月後到期的負債爲4.719億元人民幣。另一方面,它有一年內到期的現金爲16.3億元人民幣,還有價值12.7億元人民幣的應收賬款。因此,其負債總額比其現金和短期應收賬款的總額高出1.377億元人民幣。
Having regard to Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd's size, it seems that its liquid assets are well balanced with its total liabilities. So it's very unlikely that the CN¥14.4b company is short on cash, but still worth keeping an eye on the balance sheet. Despite its noteworthy liabilities, Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd boasts net cash, so it's fair to say it does not have a heavy debt load! The balance sheet is clearly the area to focus on when you are analysing debt. But it is future earnings, more than anything, that will determine Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.
考慮到江西聯創光電科技股份有限公司的規模,其流動資產與總負債的平衡似乎良好。因此,這家144億元人民幣的公司現金短缺的可能性很小,但仍然值得關注資產負債表。儘管負債可觀,但江西聯創光電科技有限公司擁有淨現金,因此可以公平地說,它沒有沉重的債務負擔!資產負債表顯然是分析債務時需要關注的領域。但是,未來的收益比什麼都更能決定江西聯創光電科技有限公司未來保持健康資產負債表的能力。因此,如果你想看看專業人士的想法,你可能會發現這份關於分析師利潤預測的免費報告很有趣。
Over 12 months, Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd made a loss at the EBIT level, and saw its revenue drop to CN¥2.8b, which is a fall of 8.8%. That's not what we would hope to see.
在過去的12個月中,江西聯創光電科技有限公司在息稅前利潤水平上出現虧損,收入下降至28億元人民幣,下降8.8%。這不是我們希望看到的。
So How Risky Is Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd?
那麼江西聯創光電科技有限公司的風險有多大?
Although Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd had an earnings before interest and tax (EBIT) loss over the last twelve months, it made a statutory profit of CN¥319m. So taking that on face value, and considering the cash, we don't think its very risky in the near term. With revenue growth uninspiring, we'd really need to see some positive EBIT before mustering much enthusiasm for this business. When we look at a riskier company, we like to check how their profits (or losses) are trending over time. Today, we're providing readers this interactive graph showing how Jiangxi Lianchuang Opto-Electronic Science&Technologyco.Ltd's profit, revenue, and operating cashflow have changed over the last few years.
儘管江西聯創光電科技有限公司在過去十二個月中出現了息稅前收益(EBIT)虧損,但其法定利潤爲3.19億元人民幣。因此,從面值來看,考慮到現金,我們認爲短期內風險不大。由於收入增長平淡無奇,在激發人們對這項業務的熱情之前,我們確實需要看到一些正的息稅前利潤。當我們研究風險較高的公司時,我們喜歡檢查他們的利潤(或虧損)隨時間推移的趨勢。今天,我們爲讀者提供這張互動圖,展示了江西聯創光電科技有限公司的利潤、收入和運營現金流在過去幾年中發生了怎樣的變化。
Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.
當然,如果你是那種喜歡在沒有債務負擔的情況下購買股票的投資者,那麼立即查看我們的淨現金增長股票的獨家清單。
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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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提供基於歷史數據和分析師預測的評論,我們的文章並非旨在提供財務建議。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,我們的分析可能不會考慮最新的價格敏感型公司公告或定性材料。華爾街只是沒有持有上述任何股票的頭寸。