Vantone Neo Development Group (SHSE:600246) Is Carrying A Fair Bit Of Debt
Vantone Neo Development Group (SHSE:600246) Is Carrying A Fair Bit 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 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. As with many other companies Vantone Neo Development Group Co., Ltd. (SHSE:600246) makes use of debt. But is this debt a concern to shareholders?
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。與許多其他公司一樣,萬通新開發集團有限公司(上海證券交易所代碼:600246)也使用債務。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?
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. If things get really bad, the lenders can take control of the business. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price. 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.
一般而言,只有當公司無法通過籌集資金或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。如果情況變得非常糟糕,貸款人可以控制業務。儘管這種情況並不常見,但我們經常會看到負債公司永久稀釋股東,因爲貸款人迫使他們以不良价格籌集資金。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極好工具。在考慮企業使用多少債務時,要做的第一件事是同時考慮其現金和債務。
What Is Vantone Neo Development Group's Net Debt?
萬通新開發集團的淨負債是多少?
As you can see below, Vantone Neo Development Group had CN¥1.83b of debt at December 2023, down from CN¥1.97b a year prior. However, it also had CN¥1.45b in cash, and so its net debt is CN¥379.1m.
如下所示,截至2023年12月,萬通新開發集團的債務爲18.3億元人民幣,低於去年同期的19.7億元人民幣。但是,它也有14.5億元的現金,因此其淨負債爲3.791億元人民幣。
![debt-equity-history-analysis](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240503/0-a719d3d42c1560a0b3d1b748371c282f-0-c9106f54af53752292883e0e7f2ffae3.png/big)
How Strong Is Vantone Neo Development Group's Balance Sheet?
萬通新開發集團的資產負債表有多強?
Zooming in on the latest balance sheet data, we can see that Vantone Neo Development Group had liabilities of CN¥1.02b due within 12 months and liabilities of CN¥1.81b due beyond that. Offsetting this, it had CN¥1.45b in cash and CN¥648.7m in receivables that were due within 12 months. So its liabilities outweigh the sum of its cash and (near-term) receivables by CN¥729.4m.
放大最新的資產負債表數據,我們可以看到,Vantone Neo Development Group的負債爲10.2億元人民幣,之後到期的負債爲18.1億元人民幣。與此相抵消的是,它有14.5億元的現金和6.487億元人民幣的應收賬款將在12個月內到期。因此,其負債超過其現金和(短期)應收賬款總額7.294億元人民幣。
Given Vantone Neo Development Group has a market capitalization of CN¥14.0b, it's hard to believe these liabilities pose much threat. Having said that, it's clear that we should continue to monitor its balance sheet, lest it change for the worse. When analysing debt levels, the balance sheet is the obvious place to start. But it is future earnings, more than anything, that will determine Vantone Neo Development Group'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.
鑑於Vantone Neo開發集團的市值爲140億元人民幣,很難相信這些負債會構成很大的威脅。話雖如此,很明顯,我們應該繼續監控其資產負債表,以免情況惡化。在分析債務水平時,資產負債表是顯而易見的起點。但是,未來的收益將決定Vantone Neo Development Group未來維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, Vantone Neo Development Group reported revenue of CN¥487m, which is a gain of 15%, although it did not report any earnings before interest and tax. That rate of growth is a bit slow for our taste, but it takes all types to make a world.
在過去的12個月中,Vantone Neo開發集團公佈的收入爲4.87億元人民幣,增長了15%,儘管它沒有報告任何利息和稅前收益。就我們的口味而言,這種增長速度有點慢,但要創造一個世界需要所有類型。
Caveat Emptor
Caveat Emptor
Importantly, Vantone Neo Development Group had an earnings before interest and tax (EBIT) loss over the last year. Indeed, it lost CN¥133m at the EBIT level. Considering that alongside the liabilities mentioned above does not give us much confidence that company should be using so much debt. Quite frankly we think the balance sheet is far from match-fit, although it could be improved with time. We would feel better if it turned its trailing twelve month loss of CN¥390m into a profit. So we do think this stock is quite risky. 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 Vantone Neo Development Group's profit, revenue, and operating cashflow have changed over the last few years.
重要的是,Vantone Neo開發集團去年出現了息稅前收益(EBIT)虧損。事實上,它在息稅前利潤水平上損失了1.33億元人民幣。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的信心。坦率地說,我們認爲資產負債表遠非匹配,儘管可以隨着時間的推移而改善。如果它將過去十二個月的3.9億元虧損轉化爲利潤,我們會感覺更好。因此,我們確實認爲這隻股票風險很大。當我們研究一家風險較高的公司時,我們喜歡檢查他們的利潤(或虧損)隨着時間的推移而呈現的趨勢。今天,我們向讀者提供這張交互式圖表,顯示Vantone Neo Development Group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。
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。