Fenbi (HKSE:02469) Accounts Receivable : HK$22 Mil (As of Dec. 2024)

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What is Fenbi Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Fenbi's accounts receivables for the quarter that ended in Dec. 2024 was HK$22 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Fenbi's Days Sales Outstanding for the quarter that ended in Dec. 2024 was 3.25.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Fenbi's Net-Net Working Capital per share for the quarter that ended in Dec. 2024 was HK$0.29.

Fenbi Accounts Receivable Historical Data

The historical data trend for Fenbi'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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Fenbi Accounts Receivable Chart

Fenbi Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Accounts Receivable

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8.92

6.93

17.80

33.99

22.03

Fenbi Semi-Annual Data
	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24
Accounts Receivable	Get a 7-Day Free Trial					17.80	46.85	33.99	51.12	22.03

Fenbi Accounts Receivable Calculation

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

Fenbi 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.

Fenbi's Days Sales Outstanding for the quarter that ended in Dec. 2024 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	22.025	/	1237.764	*	91
=	3.25

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

Fenbi's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2024 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)
=	(1305.689	+	0.75 * 22.025	+	0.5 * 82.256	-	719.05
-	0	-	0)	/	2229.681
=	0.29

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.

Fenbi Accounts Receivable Related Terms

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Fenbi Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Fenbi Ltd (HKSE:02469) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jiuxianqiao North Road, Room 601, 1-6th Floor, Building 103, No. 10 Courtyard, Chaoyang District, Beijing, CHN

Website

https://www.fenbi.com

Fenbi Ltd operates as a non-formal vocational education and training (VET) service provider in China. It is a career test preparation service provider in China, providing a comprehensive suite of recruitment and qualification examination tutoring courses for adult students pursuing careers in government-sponsored institutions and several professions and industries. It helps college graduates excel in the competitive selection process administered by governmental institutions and helps professionals obtain the relevant qualifications. Its segments are Tutoring services and Sales of books. It generates the majority of its revenue from Tutoring services which are classroom-based platforms teaching to the students who physically attend the lecture centers or through an online platform.

Executives

Tencent Holdings Limited
Sonata (bvi) Limited	2201 Interest of corporation controlled by you
Ocorian Singapore Trust Company Pte. Ltd.	2301 Trustee
Li Yong	2103 Interests held jointly with another person
Wei Liang	2201 Interest of corporation controlled by you
Zhang Xiaolong	2201 Interest of corporation controlled by you
Li Xin	2103 Interests held jointly with another person
Chalk Sky Ltd	2101 Beneficial owner
Ark Trust (hong Kong) Limited	2301 Trustee
Ho Chi Sing	2201 Interest of corporation controlled by you
Idg-accel China Growth Fund Gp Iii Associates Ltd.	2201 Interest of corporation controlled by you
Zhou Quan	2201 Interest of corporation controlled by you
Matrix China Management Ii, L.p.	2201 Interest of corporation controlled by you
Matrix China Ii Gp Gp, Ltd.	2201 Interest of corporation controlled by you
Idg-accel China Growth Fund Iii L.p.	2101 Beneficial owner

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