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Kunming Yunnei Power Co (SZSE:000903) Piotroski F-Score : 2 (As of Oct. 31, 2024)


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What is Kunming Yunnei Power 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

Kunming Yunnei Power 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 Kunming Yunnei Power Co's Piotroski F-Score or its related term are showing as below:

SZSE:000903' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 2

During the past 13 years, the highest Piotroski F-Score of Kunming Yunnei Power Co was 8. The lowest was 1. And the median was 5.


Kunming Yunnei Power Co Piotroski F-Score Historical Data

The historical data trend for Kunming Yunnei Power 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.

Kunming Yunnei Power Co Piotroski F-Score Chart

Kunming Yunnei Power 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 6.00 3.00 - 4.00

Kunming Yunnei Power 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 1.00 4.00 5.00 2.00 2.00

Competitive Comparison of Kunming Yunnei Power Co's Piotroski F-Score

For the Auto Manufacturers subindustry, Kunming Yunnei Power 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.


Kunming Yunnei Power Co's Piotroski F-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Kunming Yunnei Power Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kunming Yunnei Power 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 -881.948 + -8.676 + -91.124 + -224.675 = ¥-1,206 Mil.
Cash Flow from Operations was -1466.019 + -482.746 + 217.994 + -268.571 = ¥-1,999 Mil.
Revenue was 1004.191 + 1740.573 + 1388.098 + 1023.985 = ¥5,157 Mil.
Gross Profit was -453.595 + 205.662 + 134.945 + -12.349 = ¥-125 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(13428.109 + 12860.721 + 12676.932 + 12243.059 + 11946.632) / 5 = ¥12631.0906 Mil.
Total Assets at the begining of this year (Sep23) was ¥13,428 Mil.
Long-Term Debt & Capital Lease Obligation was ¥953 Mil.
Total Current Assets was ¥6,006 Mil.
Total Current Liabilities was ¥7,791 Mil.
Net Income was -875.84 + -50.466 + -125.889 + -196.24 = ¥-1,248 Mil.

Revenue was 493.549 + 1689.028 + 1372.105 + 1249.07 = ¥4,804 Mil.
Gross Profit was -260.577 + 117.023 + 60.867 + -12.639 = ¥-95 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(14497.907 + 13213.118 + 13663.841 + 13496.49 + 13428.109) / 5 = ¥13659.893 Mil.
Total Assets at the begining of last year (Sep22) was ¥14,498 Mil.
Long-Term Debt & Capital Lease Obligation was ¥452 Mil.
Total Current Assets was ¥7,120 Mil.
Total Current Liabilities was ¥8,805 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.

Kunming Yunnei Power Co's current Net Income (TTM) was -1,206. ==> 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.

Kunming Yunnei Power Co's current Cash Flow from Operations (TTM) was -1,999. ==> 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)
=-1206.423/13428.109
=-0.0898431

ROA (Last Year)=Net Income/Total Assets (Sep22)
=-1248.435/14497.907
=-0.0861114

Kunming Yunnei Power Co's return on assets of this year was -0.0898431. Kunming Yunnei Power Co's return on assets of last year was -0.0861114. ==> 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.

Kunming Yunnei Power Co's current Net Income (TTM) was -1,206. Kunming Yunnei Power Co's current Cash Flow from Operations (TTM) was -1,999. ==> -1,999 <= -1,206 ==> 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
=952.958/12631.0906
=0.07544543

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=452.113/13659.893
=0.03309784

Kunming Yunnei Power Co's gearing of this year was 0.07544543. Kunming Yunnei Power Co's gearing of last year was 0.03309784. ==> 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
=6006.393/7790.613
=0.77097823

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=7119.897/8805.467
=0.80857688

Kunming Yunnei Power Co's current ratio of this year was 0.77097823. Kunming Yunnei Power Co's current ratio of last year was 0.80857688. ==> 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.

Kunming Yunnei Power Co's number of shares in issue this year was 1921.441. Kunming Yunnei Power Co's number of shares in issue last year was 1927.968. ==> 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
=-125.337/5156.847
=-0.02430497

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=-95.326/4803.752
=-0.01984407

Kunming Yunnei Power Co's gross margin of this year was -0.02430497. Kunming Yunnei Power Co's gross margin of last year was -0.01984407. ==> 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)
=5156.847/13428.109
=0.38403375

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=4803.752/14497.907
=0.33134107

Kunming Yunnei Power Co's asset turnover of this year was 0.38403375. Kunming Yunnei Power Co's asset turnover of last year was 0.33134107. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

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

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

Kunming Yunnei Power Co has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Kunming Yunnei Power Co  (SZSE:000903) 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.


Kunming Yunnei Power Co Piotroski F-Score Related Terms

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Kunming Yunnei Power Co Business Description

Traded in Other Exchanges
N/A
Address
No.66, Jingjing Road, Kunming Economic and Technological Development Zone, Yunnan Province, Kunming, CHN, 650200
Kunming Yunnei Power Co Ltd is engaged in developing and manufacturing diesel engine. It offers engines for commercial vehicle, passenger cars and for off-road machines. Further, it is also involved in two major businesses of engine industrial chain and energy-saving new material industry in which it offers a product such as two powertrain assembly, two core technologies, energy-saving materials, new energy automobiles, agricultural machinery and others. Geographically the activities are carried out through China.
Executives
Wang De Qin Supervisors
Lou Di Ming Independent director
Yang Yong Zhong Directors, executives
Kui Wei Supervisors
Dai Yun Hui Executives
Shen Li Zhong Director
Shi Guo Jian Supervisors
Yang Yang Executives
Peng Wen Kai Director
Li Ming Lu Supervisors

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