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Beijing Chunlizhengda Medical Instruments Co (HKSE:01858) Piotroski F-Score : 4 (As of Oct. 31, 2024)


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What is Beijing Chunlizhengda Medical Instruments 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

Beijing Chunlizhengda Medical Instruments 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 Beijing Chunlizhengda Medical Instruments Co's Piotroski F-Score or its related term are showing as below:

HKSE:01858' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 7
Current: 4

During the past 11 years, the highest Piotroski F-Score of Beijing Chunlizhengda Medical Instruments Co was 7. The lowest was 2. And the median was 5.


Beijing Chunlizhengda Medical Instruments Co Piotroski F-Score Historical Data

The historical data trend for Beijing Chunlizhengda Medical Instruments 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.

Beijing Chunlizhengda Medical Instruments Co Piotroski F-Score Chart

Beijing Chunlizhengda Medical Instruments 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 6.00 5.00 5.00 2.00 4.00

Beijing Chunlizhengda Medical Instruments 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 - 2.00 - 4.00 -

Competitive Comparison of Beijing Chunlizhengda Medical Instruments Co's Piotroski F-Score

For the Medical Devices subindustry, Beijing Chunlizhengda Medical Instruments 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.


Beijing Chunlizhengda Medical Instruments Co's Piotroski F-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Beijing Chunlizhengda Medical Instruments Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Beijing Chunlizhengda Medical Instruments 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$304 Mil.
Cash Flow from Operations was HK$560 Mil.
Revenue was HK$1,322 Mil.
Gross Profit was HK$958 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was (3807.737 + 3991.813) / 2 = HK$3899.775 Mil.
Total Assets at the begining of this year (Dec22) was HK$3,808 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 Mil.
Total Current Assets was HK$3,287 Mil.
Total Current Liabilities was HK$740 Mil.
Net Income was HK$344 Mil.

Revenue was HK$1,342 Mil.
Gross Profit was HK$1,020 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was (3672.982 + 3807.737) / 2 = HK$3740.3595 Mil.
Total Assets at the begining of last year (Dec21) was HK$3,673 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 Mil.
Total Current Assets was HK$3,103 Mil.
Total Current Liabilities was HK$665 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.

Beijing Chunlizhengda Medical Instruments Co's current Net Income (TTM) was 304. ==> Positive ==> Score 1.

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.

Beijing Chunlizhengda Medical Instruments Co's current Cash Flow from Operations (TTM) was 560. ==> 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)
=303.878/3807.737
=0.07980541

ROA (Last Year)=Net Income/Total Assets (Dec21)
=343.634/3672.982
=0.09355722

Beijing Chunlizhengda Medical Instruments Co's return on assets of this year was 0.07980541. Beijing Chunlizhengda Medical Instruments Co's return on assets of last year was 0.09355722. ==> 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.

Beijing Chunlizhengda Medical Instruments Co's current Net Income (TTM) was 304. Beijing Chunlizhengda Medical Instruments Co's current Cash Flow from Operations (TTM) was 560. ==> 560 > 304 ==> 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
=0.582/3899.775
=0.00014924

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0.699/3740.3595
=0.00018688

Beijing Chunlizhengda Medical Instruments Co's gearing of this year was 0.00014924. Beijing Chunlizhengda Medical Instruments Co's gearing of last year was 0.00018688. ==> 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
=3287.199/740.131
=4.44137457

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=3103.45/665.344
=4.66442923

Beijing Chunlizhengda Medical Instruments Co's current ratio of this year was 4.44137457. Beijing Chunlizhengda Medical Instruments Co's current ratio of last year was 4.66442923. ==> 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.

Beijing Chunlizhengda Medical Instruments Co's number of shares in issue this year was 385.867. Beijing Chunlizhengda Medical Instruments Co's number of shares in issue last year was 384.649. ==> There is larger number of shares in issue this year. ==> Score 0.

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
=958.028/1321.858
=0.72475864

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1020.149/1341.849
=0.76025618

Beijing Chunlizhengda Medical Instruments Co's gross margin of this year was 0.72475864. Beijing Chunlizhengda Medical Instruments Co's gross margin of last year was 0.76025618. ==> 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)
=1321.858/3807.737
=0.34715055

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=1341.849/3672.982
=0.36532959

Beijing Chunlizhengda Medical Instruments Co's asset turnover of this year was 0.34715055. Beijing Chunlizhengda Medical Instruments Co's asset turnover of last year was 0.36532959. ==> 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
=1+1+0+1+1+0+0+0+0
=4

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

Beijing Chunlizhengda Medical Instruments Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.

Beijing Chunlizhengda Medical Instruments Co  (HKSE:01858) 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.


Beijing Chunlizhengda Medical Instruments Co Piotroski F-Score Related Terms

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Beijing Chunlizhengda Medical Instruments Co Business Description

Traded in Other Exchanges
Address
No. 10 Xinmi Xi Er Road, Southern District of Tongzhou, Economic Development Zone, Tongzhou District, Beijing, CHN
Beijing Chunlizhengda Medical Instruments Co Ltd is an orthopedic medical device company. It is engaged in the research, development, manufacture, and sale of orthopedic medical devices, including joint prosthesis products and spinal products. The products offered by the company are Standard joint prosthesis products, Custom joint prosthesis products, Spinal products, Sports medicine products, oral products, Platelet Rich Plasma Products, Yangtze River INS-intelligent robot and others. It operates in the business segment of manufacture and trading of surgical implants, instruments and related products.
Executives
Fil Limited 2201 Interest of corporation controlled by you
Pandanus Associates Inc. 2201 Interest of corporation controlled by you
Pandanus Partners L.p. 2201 Interest of corporation controlled by you
Brown Brothers Harriman & Co. 2502 Approved lending agent
Citigroup Inc. 2502 Approved lending agent
Fidelity China Special Situations Plc 2101 Beneficial owner
Taiping Assets Management (hk) Company Limited 2102 Investment manager
Taiping Trustees Limited 2301 Trustee

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