Changjiu Holdings (HKSE:06959) Accounts Receivable : HK$174.9 Mil (As of Dec. 2023)

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What is Changjiu Holdings Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Changjiu Holdings's accounts receivables for the quarter that ended in Dec. 2023 was HK$174.9 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Changjiu Holdings's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 87.80.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Changjiu Holdings's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was HK$0.33.

Changjiu Holdings Accounts Receivable Historical Data

The historical data trend for Changjiu Holdings'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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Changjiu Holdings Accounts Receivable Chart

Changjiu Holdings Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

47.38

73.30

113.14

174.87

Changjiu Holdings Semi-Annual Data
	Dec20	Dec21	Jun22	Dec22	Jun23	Dec23
Accounts Receivable	Get a 7-Day Free Trial			73.30	-	113.14	196.64	174.87

Changjiu Holdings Accounts Receivable Calculation

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

Changjiu Holdings 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.

Changjiu Holdings's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	174.872	/	363.505	*	91
=	87.80

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

Changjiu Holdings's Net-Net Working Capital Per Share for the quarter that ended in Dec. 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)
=	(146.814	+	0.75 * 174.872	+	0.5 * 0	-	212.196
-	0	-	0)	/	202.16
=	0.33

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.

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Changjiu Holdings (HKSE:06959) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Changjiu Holdings Ltd (HKSE:06959) » Definitions » Accounts Receivable

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 99 Shigezhuang Road, Changjiu Building, Chaoyang, Beijing, CHN

Website

Changjiu Holdings Ltd provides pledged vehicle monitoring services and automobile dealership operation management services in China. It offers pledged vehicle monitoring services primarily to (i) financial institutions that provide secured financing to automobile dealerships for their purchase of vehicles; and (ii) automobile dealerships with pledged vehicles.

Executives

Bo Shijiu
Li Guiping
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Changjiu Holdings (HKSE:06959) Headlines

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