Changmao Biochemical Engineering Co (HKSE:00954) Accounts Receivable

: HK$56.0 Mil (As of Jun. 2023)

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Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Changmao Biochemical Engineering Co's accounts receivables for the quarter that ended in Jun. 2023 was HK$56.0 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Changmao Biochemical Engineering Co's Days Sales Outstanding for the quarter that ended in Jun. 2023 was 31.48.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Changmao Biochemical Engineering Co's Net-Net Working Capital per share for the quarter that ended in Jun. 2023 was HK$-0.61.

Changmao Biochemical Engineering Co Accounts Receivable Historical Data

The historical data trend for Changmao Biochemical Engineering Co's Accounts Receivable 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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Changmao Biochemical Engineering Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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54.06

62.10

68.89

60.26

72.69

Changmao Biochemical Engineering Co Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Accounts Receivable	Get a 7-Day Free Trial															68.89	78.11	60.26	55.97	72.69

Changmao Biochemical Engineering Co Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Changmao Biochemical Engineering Co Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Changmao Biochemical Engineering Co's Days Sales Outstanding for the quarter that ended in Jun. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	55.967	/	324.424	*	91
=	31.48

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Changmao Biochemical Engineering Co's accounts receivable are only considered to be worth 75% of book value:

Changmao Biochemical Engineering Co's Net-Net Working Capital Per Share for the quarter that ended in Jun. 2023 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(123.658	+	0.75 * 55.967	+	0.5 * 188.293	-	584.918
-	0	-	0.132)	/	529.7
=	-0.61

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Changmao Biochemical Engineering Co Accounts Receivable Related Terms

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Changmao Biochemical Engineering Co (HKSE:00954) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Changmao Biochemical Engineering Co Ltd (HKSE:00954) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

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Address

No. 1228 Chang Jiang Bei Road, New North Zone, Jiangsu Province, Changzhou City, CHN, 213034

Website

http://www.cmbec.com.hk

Changmao Biochemical Engineering Co Ltd is an organic acid producer in the PRC. It produces organic acids products for sale to the food additive, chemical, and pharmaceutical industries. Its products are organic acids and their derivatives with four carbons in their structures including fumaric acid, maleic acid, L-malic acid, D-malic acid, DL-malic acid, L(+)-tartaric acid, D(-)-tartaric acid, DL-tartaric acid, L-aspartic acid, and aspartame. These products are used as food additives or medical intermediaries. Its products are produced along vertical production chains. Its geographic locations include Mainland China, Europe includes Great Britain, Germany, Turkey, Spain, and Italy, Asia Pacific includes Hong Kong, Indonesia, Australia, India, Thailand and Japan, America, and Others.

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