Zhejiang Renzhi Co (SZSE:002629) Long-Term Capital Lease Obligation : ¥0.1 Mil (As of Mar. 2024)

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What is Zhejiang Renzhi Co Long-Term Capital Lease Obligation?

Zhejiang Renzhi Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥0.1 Mil.

Zhejiang Renzhi Co's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (¥0.0 Mil) to Dec. 2023 (¥0.4 Mil) but then declined from Dec. 2023 (¥0.4 Mil) to Mar. 2024 (¥0.1 Mil).

Zhejiang Renzhi Co's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (¥2.0 Mil) to Dec. 2022 (¥2.4 Mil) but then declined from Dec. 2022 (¥2.4 Mil) to Dec. 2023 (¥0.4 Mil).

Zhejiang Renzhi Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Zhejiang Renzhi Co's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Zhejiang Renzhi Co Long-Term Capital Lease Obligation Chart

Zhejiang Renzhi Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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4.72

1.96

2.42

0.43

Zhejiang Renzhi Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															1.59	0.86	0.02	0.43	0.09

Zhejiang Renzhi Co (SZSE:002629) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Zhejiang Renzhi Co (SZSE:002629) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Zhejiang Renzhi Co Ltd (SZSE:002629) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

2180 Binhai 6th Road, Room 108, Building 1, Wenzhou Economic and Technological Development Zone, Wenzhou, CHN, 200135

Website

http://www.chinarenzhi.com

Zhejiang Renzhi Co Ltd is engaged in the oil service industry which include providing professional services like oil and gas drilling engineering field, oilfield special equipment inspection and maintenance technology.

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