Is Jiangsu HSC New Energy MaterialsLTD (SHSE:688353) Using Debt In A Risky Way?
Is Jiangsu HSC New Energy MaterialsLTD (SHSE:688353) Using Debt In A Risky Way?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' 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. Importantly, Jiangsu HSC New Energy Materials Co.,LTD. (SHSE:688353) does carry debt. But is this debt a concern to shareholders?
禾倫·巴菲特曾說過一句名言:“波動性遠非風險的代名詞。”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。重要的是,江蘇海信新能源材料有限公司, LTD.(SHSE: 688353)確實有債務。但是這筆債務是股東關心的問題嗎?
Why Does Debt Bring Risk?
爲什麼債務會帶來風險?
Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. If things get really bad, the lenders can take control of the business. 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. Of course, debt can be an important tool in businesses, particularly capital heavy businesses. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
當企業無法通過自由現金流或以有吸引力的價格籌集資金來輕鬆履行債務和其他負債時,債務和其他負債就會面臨風險。如果情況變得非常糟糕,貸款人可以控制業務。但是,更常見(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。當然,債務可以成爲企業,尤其是資本密集型企業的重要工具。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。
How Much Debt Does Jiangsu HSC New Energy MaterialsLTD Carry?
江蘇匯豐新能源材料有限公司揹負了多少債務?
The image below, which you can click on for greater detail, shows that at September 2023 Jiangsu HSC New Energy MaterialsLTD had debt of CN¥116.4m, up from CN¥40.5m in one year. But on the other hand it also has CN¥2.31b in cash, leading to a CN¥2.19b net cash position.
您可以點擊下圖查看更多詳情,該圖片顯示,截至2023年9月,江蘇恒生新能源材料有限公司的債務爲1.164億元人民幣,高於一年內的4,050萬元人民幣。但另一方面,它也有23.1億元人民幣的現金,淨現金狀況爲21.9億元人民幣。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240202/0-8e7b8e5b2df1ccc04aa42f736ff124ef-0-9e9e20dc9044c8a9cfeb07d705fdd851.png/big)
A Look At Jiangsu HSC New Energy MaterialsLTD's Liabilities
看看江蘇恒生新能源材料有限公司的負債
Zooming in on the latest balance sheet data, we can see that Jiangsu HSC New Energy MaterialsLTD had liabilities of CN¥438.2m due within 12 months and liabilities of CN¥175.2m due beyond that. Offsetting this, it had CN¥2.31b in cash and CN¥308.7m in receivables that were due within 12 months. So it actually has CN¥2.00b more liquid assets than total liabilities.
放大最新的資產負債表數據,我們可以看到,江蘇恒生新能源材料有限公司在12個月內到期的負債爲4.382億元人民幣,之後到期的負債爲1.752億元人民幣。與此相抵消的是,它有23.1億加元的現金和3.087億元人民幣的應收賬款將在12個月內到期。所以它實際上有2,00億元人民幣 更多 流動資產超過總負債。
This luscious liquidity implies that Jiangsu HSC New Energy MaterialsLTD's balance sheet is sturdy like a giant sequoia tree. On this view, lenders should feel as safe as the beloved of a black-belt karate master. Simply put, the fact that Jiangsu HSC New Energy MaterialsLTD has more cash than debt is arguably a good indication that it can manage its debt safely. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Jiangsu HSC New Energy MaterialsLTD's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
這種豐厚的流動性意味着江蘇恒生新能源材料有限公司的資產負債表像一棵巨型紅杉樹一樣堅固。從這個角度來看,貸款人應該像黑帶空手道大師心愛的人一樣感到安全。簡而言之,江蘇恒生新能源材料有限公司的現金多於債務,這一事實可以說是一個很好的跡象,表明它可以安全地管理債務。毫無疑問,我們從資產負債表中學到的關於債務的知識最多。但是,未來的收益比什麼都重要,將決定江蘇恒信新能源材料有限公司未來維持健康資產負債表的能力。因此,如果您專注於未來,可以查看這份顯示分析師利潤預測的免費報告。
In the last year Jiangsu HSC New Energy MaterialsLTD had a loss before interest and tax, and actually shrunk its revenue by 46%, to CN¥556m. To be frank that doesn't bode well.
去年,江蘇恒生新能源材料有限公司在利息和稅前出現虧損,實際收入減少了46%,至5.56億元人民幣。坦率地說,這並不是一個好兆頭。
So How Risky Is Jiangsu HSC New Energy MaterialsLTD?
那麼江蘇海信新能源材料有限公司的風險有多大?
While Jiangsu HSC New Energy MaterialsLTD lost money on an earnings before interest and tax (EBIT) level, it actually booked a paper profit of CN¥61m. So taking that on face value, and considering the cash, we don't think its very risky in the near term. The next few years will be important as the business matures. The balance sheet is clearly the area to focus on when you are analysing debt. However, not all investment risk resides within the balance sheet - far from it. Case in point: We've spotted 3 warning signs for Jiangsu HSC New Energy MaterialsLTD you should be aware of, and 2 of them can't be ignored.
儘管江蘇匯豐新能源材料有限公司在息稅前收益(EBIT)水平上出現虧損,但其實際賬面利潤爲6100萬元人民幣。因此,從面值來看,考慮到現金,我們認爲短期內風險不大。隨着業務的成熟,未來幾年將是重要的。資產負債表顯然是分析債務時需要關注的領域。但是,並非所有的投資風險都存在於資產負債表中,遠非如此。一個很好的例子:我們已經發現了你應該注意的江蘇恒生新能源材料有限公司的3個警告標誌,其中兩個不容忽視。
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,那麼請立即查看我們的獨家淨現金增長股票清單。
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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。