Here's Why SVG Tech GroupLtd (SZSE:300331) Can Afford Some Debt
Here's Why SVG Tech GroupLtd (SZSE:300331) Can Afford Some 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. We can see that SVG Tech Group Co.,Ltd. (SZSE:300331) does use debt in its business. But should shareholders be worried about its use of debt?
如大衛·伊本所說,'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,明智的投資者知道,債務-通常與破產有關-是評估公司風險性的非常重要的因素。我們可以看到,蘇大維格科技集團股份有限公司(SZSE:300331)確實在其業務中使用債務。但是股東們應該擔心它的債務使用嗎?
What Risk Does Debt Bring?
債務帶來了什麼風險?
Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. 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. 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 thing to do when considering how much debt a business uses is to look at its cash and debt together.
債務是幫助企業增長的工具,但如果一個企業無力償還其債權人,則存在於他們的恩惠之下。如果情況變得非常糟糕,債權人可以接管企業。然而,更頻繁發生的(但仍然昂貴)情況是,一家公司必須以低廉的價格發行股票,永久稀釋股東的利益,來支撐其資產負債表。然而,通過替代稀釋,債務可以成爲需要高回報投資增長資本的企業的極好工具。在考慮企業使用多少債務時,首要任務是審視其現金和債務總額。
What Is SVG Tech GroupLtd's Debt?
蘇大維格科技集團有限公司的債務是多少?
You can click the graphic below for the historical numbers, but it shows that as of March 2024 SVG Tech GroupLtd had CN¥838.8m of debt, an increase on CN¥787.1m, over one year. However, because it has a cash reserve of CN¥754.2m, its net debt is less, at about CN¥84.6m.
你可以點擊下面的圖表查看歷史數據,但它顯示蘇大維格科技集團有限公司到2024年3月的債務爲8,388萬人民幣,較去年增加了7,871萬人民幣。然而,由於其現金儲備爲7,542萬人民幣,其淨債務較小,約爲846萬人民幣。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240817/0-0ffa5e3ae1ceeea0e2963c858caa30d5-0-330c8926a6fce5ec02b26048b684e482.png/big)
How Healthy Is SVG Tech GroupLtd's Balance Sheet?
蘇大維格技術集團有限公司的資產負債表如何?
We can see from the most recent balance sheet that SVG Tech GroupLtd had liabilities of CN¥1.23b falling due within a year, and liabilities of CN¥299.8m due beyond that. On the other hand, it had cash of CN¥754.2m and CN¥683.9m worth of receivables due within a year. So it has liabilities totalling CN¥92.3m more than its cash and near-term receivables, combined.
我們可以從最新的資產負債表中看到,蘇大維格技術集團有限公司今年到期的負債爲1.23億元人民幣,而逾期負債則爲2998萬元人民幣。另一方面,其現金爲7542萬元人民幣,應收賬款爲6839萬元人民幣。因此,其負債合計比現金和短期應收賬款多923萬元人民幣。
Of course, SVG Tech GroupLtd has a market capitalization of CN¥4.02b, so these liabilities are probably manageable. However, we do think it is worth keeping an eye on its balance sheet strength, as it may change over time. There's no doubt that we learn most about debt from the balance sheet. But you can't view debt in total isolation; since SVG Tech GroupLtd will need earnings to service that debt. So when considering debt, it's definitely worth looking at the earnings trend. Click here for an interactive snapshot.
當然,蘇大維格技術集團有限公司的市值爲4.02億元人民幣,所以這些負債可能是可以承受的。然而,我們認爲還是值得關注其資產負債表的實力,因爲它可能隨時間而變化。毫無疑問,從資產負債表中可以了解到關於債務的最多信息。但是,在考慮債務時,不能將其孤立起來,因爲蘇大維格技術集團有限公司需要盈利來償還債務。因此,在考慮債務時,一定要留意盈利趨勢。點擊此處查看交互式快照。
In the last year SVG Tech GroupLtd wasn't profitable at an EBIT level, but managed to grow its revenue by 5.2%, to CN¥1.8b. That rate of growth is a bit slow for our taste, but it takes all types to make a world.
在過去一年中,蘇大維格技術集團有限公司的EBIT水平上並沒有盈利,但其營業收入增長了5.2%,達到了18億元人民幣。這種增長速度對我們來說有點慢,但是世界上各種類型的企業都是存在的。
Caveat Emptor
買方自負。
Importantly, SVG Tech GroupLtd had an earnings before interest and tax (EBIT) loss over the last year. To be specific the EBIT loss came in at CN¥41m. When we look at that and recall the liabilities on its balance sheet, relative to cash, it seems unwise to us for the company to have any debt. So we think its balance sheet is a little strained, though not beyond repair. Another cause for caution is that is bled CN¥38m in negative free cash flow over the last twelve months. So suffice it to say we do consider the stock to be risky. 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. For example - SVG Tech GroupLtd has 1 warning sign we think you should be aware of.
重要的是,在過去一年中,蘇大維格技術集團有限公司EBIT出現了虧損。具體來說,EBIT虧損爲4100萬元人民幣。當我們看到這一點並回想起其資產負債表上的負債,相對於現金來說,對公司來說持有任何債務是不明智的。因此,我們認爲其資產負債表有些緊張,儘管並未到無法修復的地步。另一個需要注意的因素是,在過去12個月中,蘇大維格技術集團有限公司的自由現金流出現了3800萬元人民幣的負值。因此,我們認爲該股票具有風險。當你分析債務時,資產負債表顯然是需要關注的領域。然而,並不是所有的投資風險都存在於資產負債表中,遠非如此。例如,蘇大維格技術集團有限公司存在1個警告信號,我們認爲你應該意識到。
When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.
說到底,有時候更容易集中精力關注根本不需要債務的公司。讀者可以免費訪問零淨債務增長股票列表。
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