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Xiamen C & D (SHSE:600153) Piotroski F-Score : 4 (As of Dec. 13, 2024)


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What is Xiamen C & D 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

Xiamen C & D has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Xiamen C & D's Piotroski F-Score or its related term are showing as below:

SHSE:600153' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 7
Current: 4

During the past 13 years, the highest Piotroski F-Score of Xiamen C & D was 7. The lowest was 1. And the median was 5.


Xiamen C & D Piotroski F-Score Historical Data

The historical data trend for Xiamen C & D'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.

Xiamen C & D Piotroski F-Score Chart

Xiamen C & D 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 5.00 6.00

Xiamen C & D Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 6.00 6.00 3.00 3.00 4.00

Competitive Comparison of Xiamen C & D's Piotroski F-Score

For the Specialty Business Services subindustry, Xiamen C & D'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.


Xiamen C & D's Piotroski F-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Xiamen C & D's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Xiamen C & D'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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 683.25 + 603.89 + 594.951 + 859.364 = ¥2,741 Mil.
Cash Flow from Operations was 5020.497 + -46515.018 + 24402.539 + 7999.771 = ¥-9,092 Mil.
Revenue was 164974.046 + 131337.299 + 187677.212 + 183121.711 = ¥667,110 Mil.
Gross Profit was 15023.498 + 5186.772 + 10057.638 + 6697.181 = ¥36,965 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(931177.304 + 820851.869 + 891873.757 + 902308.786 + 876013.376) / 5 = ¥884445.0184 Mil.
Total Assets at the begining of this year (Sep23) was ¥931,177 Mil.
Long-Term Debt & Capital Lease Obligation was ¥110,483 Mil.
Total Current Assets was ¥683,026 Mil.
Total Current Liabilities was ¥506,953 Mil.
Net Income was 2605.953 + 793.926 + 1129.55 + 10497.271 = ¥15,027 Mil.

Revenue was 268251.371 + 167464.733 + 215961.713 + 215277.663 = ¥866,955 Mil.
Gross Profit was 17340.603 + 4038.614 + 6736.599 + 7471.701 = ¥35,588 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(775408.66 + 664937.671 + 770447.476 + 826829.162 + 931177.304) / 5 = ¥793760.0546 Mil.
Total Assets at the begining of last year (Sep22) was ¥775,409 Mil.
Long-Term Debt & Capital Lease Obligation was ¥111,564 Mil.
Total Current Assets was ¥740,617 Mil.
Total Current Liabilities was ¥554,527 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.

Xiamen C & D's current Net Income (TTM) was 2,741. ==> 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.

Xiamen C & D's current Cash Flow from Operations (TTM) was -9,092. ==> Negative ==> Score 0.

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 (Sep23)
=2741.455/931177.304
=0.00294407

ROA (Last Year)=Net Income/Total Assets (Sep22)
=15026.7/775408.66
=0.01937907

Xiamen C & D's return on assets of this year was 0.00294407. Xiamen C & D's return on assets of last year was 0.01937907. ==> 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.

Xiamen C & D's current Net Income (TTM) was 2,741. Xiamen C & D's current Cash Flow from Operations (TTM) was -9,092. ==> -9,092 <= 2,741 ==> CFROA <= ROA ==> Score 0.

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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=110483.258/884445.0184
=0.12491818

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=111564.024/793760.0546
=0.14055132

Xiamen C & D's gearing of this year was 0.12491818. Xiamen C & D's gearing of last year was 0.14055132. ==> 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: Sep24)=Total Current Assets/Total Current Liabilities
=683026.051/506952.739
=1.34731701

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=740616.795/554527.175
=1.33558251

Xiamen C & D's current ratio of this year was 1.34731701. Xiamen C & D's current ratio of last year was 1.33558251. ==> This year's current ratio is higher. ==> Score 1.

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.

Xiamen C & D's number of shares in issue this year was 0. Xiamen C & D's number of shares in issue last year was 0. ==> 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
=36965.089/667110.268
=0.05541076

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=35587.517/866955.48
=0.04104884

Xiamen C & D's gross margin of this year was 0.05541076. Xiamen C & D's gross margin of last year was 0.04104884. ==> This year's gross margin is higher. ==> Score 1.

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 (Sep23)
=667110.268/931177.304
=0.71641594

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=866955.48/775408.66
=1.11806267

Xiamen C & D's asset turnover of this year was 0.71641594. Xiamen C & D's asset turnover of last year was 1.11806267. ==> 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+0+0+0+1+1+1+1+0
=5

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

Xiamen C & D has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Xiamen C & D  (SHSE:600153) 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.


Xiamen C & D Piotroski F-Score Related Terms

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Xiamen C & D Business Description

Traded in Other Exchanges
N/A
Address
No. 1699, Huandao East Road, 29th Floor, Jianfa International Building, Siming District, Fujian Province, Xiamen, CHN, 361008
Xiamen C & D Inc is a China-based modern service-oriented company mainly specializing in supply chain operation and real estate development. In regard to supply chain operation, the company has formed core business units, namely, pulp and paper, iron and steel, mineral products, agricultural products, textiles and other light industrial goods, chemical products, mechanical and electrical products, logistics services, automobiles and wines/spirits.
Executives
Jiang Gui Zhi senior management
Wang Zhi Bing senior management
Chen Dong Xu Directors, senior managers
Xu Jia Na senior management
Zheng Yong Da Directors, senior managers
Lin Mao Directors, senior managers
Huang Wen Zhou Director
Ye Yan Liu Director
Wang Qin Director
Wu Xiao Min Director
Lai Yan Da senior management
Zhang Yong Feng Director
Ye Zhi Liang Director
Xiang Xiao Yun senior management
Wang Xian Rong Director

Xiamen C & D Headlines

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