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Lianhua Supermarket Holdings Co (HKSE:00980) Piotroski F-Score : 4 (As of Dec. 15, 2024)


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What is Lianhua Supermarket Holdings Co Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Lianhua Supermarket Holdings Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Lianhua Supermarket Holdings Co's Piotroski F-Score or its related term are showing as below:

HKSE:00980' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Lianhua Supermarket Holdings Co was 7. The lowest was 4. And the median was 6.


Lianhua Supermarket Holdings Co Piotroski F-Score Historical Data

The historical data trend for Lianhua Supermarket Holdings Co's Piotroski F-Score 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.

* Premium members only.

Lianhua Supermarket Holdings Co Piotroski F-Score Chart

Lianhua Supermarket Holdings Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 5.00 5.00 7.00 4.00

Lianhua Supermarket Holdings Co Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - 7.00 - 4.00 -

Competitive Comparison of Lianhua Supermarket Holdings Co's Piotroski F-Score

For the Department Stores subindustry, Lianhua Supermarket Holdings Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Lianhua Supermarket Holdings Co's Piotroski F-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Lianhua Supermarket Holdings Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Lianhua Supermarket Holdings Co's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was HK$-866 Mil.
Cash Flow from Operations was HK$910 Mil.
Revenue was HK$23,884 Mil.
Gross Profit was HK$3,042 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (25671.826 + 22957.481) / 2 = HK$24314.6535 Mil.
Total Assets at the begining of this year (Dec22) was HK$25,672 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,709 Mil.
Total Current Assets was HK$8,316 Mil.
Total Current Liabilities was HK$17,619 Mil.
Net Income was HK$-231 Mil.

Revenue was HK$27,562 Mil.
Gross Profit was HK$3,777 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (27954.499 + 25671.826) / 2 = HK$26813.1625 Mil.
Total Assets at the begining of last year (Dec21) was HK$27,954 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5,705 Mil.
Total Current Assets was HK$11,089 Mil.
Total Current Liabilities was HK$18,409 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Lianhua Supermarket Holdings Co's current Net Income (TTM) was -866. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Lianhua Supermarket Holdings Co's current Cash Flow from Operations (TTM) was 910. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=-865.526/25671.826
=-0.03371502

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-230.632/27954.499
=-0.00825026

Lianhua Supermarket Holdings Co's return on assets of this year was -0.03371502. Lianhua Supermarket Holdings Co's return on assets of last year was -0.00825026. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Lianhua Supermarket Holdings Co's current Net Income (TTM) was -866. Lianhua Supermarket Holdings Co's current Cash Flow from Operations (TTM) was 910. ==> 910 > -866 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=4708.907/24314.6535
=0.1936654

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=5705.138/26813.1625
=0.21277378

Lianhua Supermarket Holdings Co's gearing of this year was 0.1936654. Lianhua Supermarket Holdings Co's gearing of last year was 0.21277378. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=8315.671/17618.601
=0.47198248

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=11089.308/18409.382
=0.60237264

Lianhua Supermarket Holdings Co's current ratio of this year was 0.47198248. Lianhua Supermarket Holdings Co's current ratio of last year was 0.60237264. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Lianhua Supermarket Holdings Co's number of shares in issue this year was 1119.6. Lianhua Supermarket Holdings Co's number of shares in issue last year was 1119.6. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3041.878/23883.623
=0.1273625

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3777.059/27562.078
=0.13703825

Lianhua Supermarket Holdings Co's gross margin of this year was 0.1273625. Lianhua Supermarket Holdings Co's gross margin of last year was 0.13703825. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=23883.623/25671.826
=0.93034376

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=27562.078/27954.499
=0.98596215

Lianhua Supermarket Holdings Co's asset turnover of this year was 0.93034376. Lianhua Supermarket Holdings Co's asset turnover of last year was 0.98596215. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+1+0+1+0+0
=4

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Lianhua Supermarket Holdings Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Lianhua Supermarket Holdings Co  (HKSE:00980) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Lianhua Supermarket Holdings Co Piotroski F-Score Related Terms

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Lianhua Supermarket Holdings Co Business Description

Traded in Other Exchanges
Address
No. 1258 Zhen Guang Road, 5th to 14th Floors, Shanghai, CHN
Lianhua Supermarket Holdings Co Ltd is a Hong Kong-based investment holding company engaged in the operation of stores. The company's reportable segments include hypermarkets, supermarkets and convenience stores, and Other operations. These three segments expand under the brand names of Century Mart, Lianhua Supermarket, Hualian Supermarket and Lianhua Quik. Majority of the revenue is derived from Supermarket segment.
Executives
China Galaxy International Asset Management (hong Kong) Co., Limited 2102 Investment manager
China Galaxy International Spc (acting For And On Behalf Of China Galaxy Value Fund I Sp) 2201 Interest of corporation controlled by you
Xu Zizuo 2101 Beneficial owner

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