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Beijing Cuiwei Tower Co (SHSE:603123) Piotroski F-Score : 2 (As of Mar. 14, 2025)


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What is Beijing Cuiwei Tower Co Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

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

Beijing Cuiwei Tower Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Beijing Cuiwei Tower Co's Piotroski F-Score or its related term are showing as below:

SHSE:603123' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 2

During the past 13 years, the highest Piotroski F-Score of Beijing Cuiwei Tower Co was 8. The lowest was 2. And the median was 5.


Beijing Cuiwei Tower Co Piotroski F-Score Historical Data

The historical data trend for Beijing Cuiwei Tower 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 Cuiwei Tower Co Piotroski F-Score Chart

Beijing Cuiwei Tower 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 3.00 6.00 3.00 3.00

Beijing Cuiwei Tower Co 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 3.00 3.00 2.00 2.00 2.00

Competitive Comparison of Beijing Cuiwei Tower Co's Piotroski F-Score

For the Credit Services subindustry, Beijing Cuiwei Tower 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 Cuiwei Tower Co's Piotroski F-Score Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Beijing Cuiwei Tower Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Beijing Cuiwei Tower 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 (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was -242.704 + -109.955 + -128.286 + -141.136 = ¥-622 Mil.
Cash Flow from Operations was -98.16 + -56.523 + -166.753 + -32.003 = ¥-353 Mil.
Revenue was 850.891 + 627.456 + 540.198 + 527.763 = ¥2,546 Mil.
Gross Profit was 179.449 + 136.305 + 95.544 + 85.69 = ¥497 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(7224.326 + 6883.299 + 6672.512 + 6516.999 + 6559.502) / 5 = ¥6771.3276 Mil.
Total Assets at the begining of this year (Sep23) was ¥7,224 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,893 Mil.
Total Current Assets was ¥2,139 Mil.
Total Current Liabilities was ¥2,203 Mil.
Net Income was -494.735 + 19.188 + 10.643 + -371.562 = ¥-836 Mil.

Revenue was 952.791 + 1000.08 + 891.864 + 917.495 = ¥3,762 Mil.
Gross Profit was 223.449 + 265.528 + 245.509 + 200.486 = ¥935 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(7571.767 + 7989.331 + 7815.712 + 7191.227 + 7224.326) / 5 = ¥7558.4726 Mil.
Total Assets at the begining of last year (Sep22) was ¥7,572 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,896 Mil.
Total Current Assets was ¥2,339 Mil.
Total Current Liabilities was ¥2,232 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 Cuiwei Tower Co's current Net Income (TTM) was -622. ==> 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.

Beijing Cuiwei Tower Co's current Cash Flow from Operations (TTM) was -353. ==> 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)
=-622.081/7224.326
=-0.08610921

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-836.466/7571.767
=-0.1104717

Beijing Cuiwei Tower Co's return on assets of this year was -0.08610921. Beijing Cuiwei Tower Co's return on assets of last year was -0.1104717. ==> This year is higher. ==> Score 1.

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 Cuiwei Tower Co's current Net Income (TTM) was -622. Beijing Cuiwei Tower Co's current Cash Flow from Operations (TTM) was -353. ==> -353 > -622 ==> 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: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=1892.586/6771.3276
=0.27949999

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=1895.64/7558.4726
=0.2507967

Beijing Cuiwei Tower Co's gearing of this year was 0.27949999. Beijing Cuiwei Tower Co's gearing of last year was 0.2507967. ==> Last year is lower than this year ==> Score 0.

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
=2138.686/2202.758
=0.97091283

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=2338.73/2232.351
=1.04765335

Beijing Cuiwei Tower Co's current ratio of this year was 0.97091283. Beijing Cuiwei Tower Co's current ratio of last year was 1.04765335. ==> 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 Cuiwei Tower Co's number of shares in issue this year was 797.134. Beijing Cuiwei Tower Co's number of shares in issue last year was 782.845. ==> 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
=496.988/2546.308
=0.19517984

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=934.972/3762.23
=0.24851538

Beijing Cuiwei Tower Co's gross margin of this year was 0.19517984. Beijing Cuiwei Tower Co's gross margin of last year was 0.24851538. ==> 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 (Sep23)
=2546.308/7224.326
=0.35246305

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=3762.23/7571.767
=0.49687609

Beijing Cuiwei Tower Co's asset turnover of this year was 0.35246305. Beijing Cuiwei Tower Co's asset turnover of last year was 0.49687609. ==> 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+0+1+1+0+0+0+0+0
=2

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

Beijing Cuiwei Tower Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Beijing Cuiwei Tower Co  (SHSE:603123) 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 Cuiwei Tower Co Piotroski F-Score Related Terms

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Beijing Cuiwei Tower Co Business Description

Traded in Other Exchanges
N/A
Address
No. 33, Fuxing Road, Haidian District, Beijing, CHN, 100036
Beijing Cuiwei Tower Co Ltd is engaged in the department store retail business. Its retailing products mainly include cosmetics, household appliances, and supermarket products. The company has three commercial brands, namely Cuiwei Department Store, Contemporary Mall, and Ganjiakou Department Store, and seven large department stores, integrating department stores, supermarkets, catering, leisure and entertainment, and other urban quality life services.

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