Does Shenzhen Longli TechnologyLtd (SZSE:300752) Have A Healthy Balance Sheet?
Does Shenzhen Longli TechnologyLtd (SZSE:300752) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. As with many other companies Shenzhen Longli Technology Co.,Ltd (SZSE:300752) makes use of debt. But the real question is whether this debt is making the company risky.
传奇基金经理李露(由查理·芒格支持)曾经说过:“最大的投资风险不是价格的波动,而是你是否会遭受永久的资本损失。”当我们考虑一家公司的风险时,我们总是喜欢看它对债务的使用,因为债务超负荷可能导致破产。与许多其他公司一样,深圳市龙力科技股份有限公司,有限公司(深圳证券交易所代码:300752)使用债务。但真正的问题是这笔债务是否使公司面临风险。
What Risk Does Debt Bring?
债务会带来什么风险?
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. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. 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 step when considering a company's debt levels is to consider its cash and debt together.
债务是帮助企业发展的工具,但如果企业无法还清贷款人,那么债务就任由他们摆布。在最坏的情况下,如果一家公司无法向债权人付款,它可能会破产。但是,更常见(但仍然代价高昂)的情况是,公司必须以低廉的价格发行股票,永久稀释股东,以支撑其资产负债表。当然,债务可以成为企业,尤其是资本密集型企业的重要工具。考虑公司的债务水平时,第一步是将其现金和债务放在一起考虑。
View our latest analysis for Shenzhen Longli TechnologyLtd
查看我们对深圳龙力科技有限公司的最新分析
What Is Shenzhen Longli TechnologyLtd's Debt?
深圳龙力科技有限公司的债务是什么?
You can click the graphic below for the historical numbers, but it shows that Shenzhen Longli TechnologyLtd had CN¥117.1m of debt in September 2023, down from CN¥180.2m, one year before. However, it does have CN¥442.2m in cash offsetting this, leading to net cash of CN¥325.1m.
你可以点击下图查看历史数字,但它显示深圳龙力科技有限公司在2023年9月的债务为1.171亿元人民币,低于一年前的1.802亿元人民币。但是,它确实有4.422亿元人民币的现金抵消了这一点,净现金为3.251亿元人民币。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20231108/0-4fb7f0625d19751f35e70543a522c902-0-834c618c59310c172dff2ca091ea1e4b.png/big)
How Healthy Is Shenzhen Longli TechnologyLtd's Balance Sheet?
深圳市龙力科技有限公司的资产负债表有多健康?
We can see from the most recent balance sheet that Shenzhen Longli TechnologyLtd had liabilities of CN¥620.2m falling due within a year, and liabilities of CN¥102.6m due beyond that. On the other hand, it had cash of CN¥442.2m and CN¥616.0m worth of receivables due within a year. So it actually has CN¥335.5m more liquid assets than total liabilities.
从最新的资产负债表中我们可以看出,深圳龙力科技有限公司在一年内到期的负债为6.202亿元人民币,此后到期的负债为1.026亿元人民币。另一方面,它在一年内有4.422亿元人民币的现金和价值6.16亿元人民币的应收账款。所以它实际上有3.355亿元人民币 更多 流动资产超过总负债。
This surplus suggests that Shenzhen Longli TechnologyLtd has a conservative balance sheet, and could probably eliminate its debt without much difficulty. Succinctly put, Shenzhen Longli TechnologyLtd 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 you can't view debt in total isolation; since Shenzhen Longli 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.
这种盈余表明,深圳龙力科技有限公司的资产负债表比较保守,很可能可以毫不费力地消除债务。简而言之,深圳龙力科技有限公司拥有净现金,因此可以说它没有沉重的债务负担!资产负债表显然是分析债务时需要关注的领域。但是你不能完全孤立地看待债务;因为深圳龙力科技有限公司需要收益来偿还这笔债务。因此,如果你想进一步了解其收益,可能值得看看这张长期收益趋势图。
In the last year Shenzhen Longli TechnologyLtd had a loss before interest and tax, and actually shrunk its revenue by 38%, to CN¥954m. To be frank that doesn't bode well.
去年,深圳龙力科技有限公司在利息和税前出现亏损,实际上其收入减少了38%,至9.54亿元人民币。坦率地说,这并不是一个好兆头。
So How Risky Is Shenzhen Longli TechnologyLtd?
那么,深圳龙力科技有限公司的风险有多大?
We have no doubt that loss making companies are, in general, riskier than profitable ones. And the fact is that over the last twelve months Shenzhen Longli TechnologyLtd lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of CN¥144m and booked a CN¥281m accounting loss. With only CN¥325.1m on the balance sheet, it would appear that its going to need to raise capital again soon. Even though its balance sheet seems sufficiently liquid, debt always makes us a little nervous if a company doesn't produce free cash flow regularly. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet - far from it. These risks can be hard to spot. Every company has them, and we've spotted 2 warning signs for Shenzhen Longli TechnologyLtd (of which 1 is significant!) you should know about.
我们毫不怀疑,总体而言,亏损公司比盈利公司的风险更大。事实是,在过去的十二个月中,深圳龙力科技有限公司在息税前收益(EBIT)方面亏损。同期,它的自由现金流出为负1.44亿元人民币,会计亏损为2.81亿元人民币。由于资产负债表上只有3.251亿元人民币,看来它需要很快再次筹集资金。尽管其资产负债表似乎具有足够的流动性,但如果一家公司不定期产生自由现金流,债务总是会让我们有些紧张。毫无疑问,我们从资产负债表中学到的关于债务的知识最多。但是,并非所有的投资风险都存在于资产负债表中——远非如此。这些风险可能很难发现。每家公司都有它们,我们发现了深圳龙力科技有限公司的两个警告标志(其中一个很重要!)你应该知道。
At the end of the day, it's often better to focus on companies that are free from net debt. You can access our special list of such companies (all with a track record of profit growth). It's free.
归根结底,通常最好将注意力集中在没有净负债的公司身上。您可以访问我们的此类公司的特别名单(所有公司都有利润增长记录)。它是免费的。
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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。