Maike Tube Industry Holdings (HKSE:01553) Long-Term Capital Lease Obligation : HK$3 Mil (As of Dec. 2023)

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What is Maike Tube Industry Holdings Long-Term Capital Lease Obligation?

Maike Tube Industry Holdings's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was HK$3 Mil.

Maike Tube Industry Holdings's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 (HK$4 Mil) to Jun. 2023 (HK$4 Mil) and declined from Jun. 2023 (HK$4 Mil) to Dec. 2023 (HK$3 Mil).

Maike Tube Industry Holdings's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (HK$8 Mil) to Dec. 2022 (HK$4 Mil) and declined from Dec. 2022 (HK$4 Mil) to Dec. 2023 (HK$3 Mil).

Maike Tube Industry Holdings Long-Term Capital Lease Obligation Historical Data

The historical data trend for Maike Tube Industry Holdings's Long-Term Capital Lease Obligation 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.

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Maike Tube Industry Holdings Long-Term Capital Lease Obligation Chart

Maike Tube Industry Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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0.87

8.13

4.36

3.36

Maike Tube Industry Holdings Semi-Annual Data
	Dec16	Dec17	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial									6.34	4.36	3.57	3.36	-

Maike Tube Industry Holdings (HKSE:01553) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Maike Tube Industry Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Maike Tube Industry Holdings Ltd (HKSE:01553) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 4 Meide Street, Meigui Zone of Industrial Park, Pingyin County, Shandong Province, Jinan, CHN, 250400

Website

http://www.mechpipingtech.com

Maike Tube Industry Holdings Ltd is an investment holding company. The company, through its subsidiaries, is engaged in the manufacturing of steel pipe products and prefabricated pipe nipple products. Its steel pipe products are made through rolling steel plates and welding the seam and are mainly used for gas, water supply, HVAC, and fire extinguishing. The group offers ERW steel pipes, Standard prefabricated pipe nipples, Spiral Submerged Arc Welded steel pipes, Customised steel pipes, and Design and supply assembled piping systems. It has a business presence in the PRC, the US, Europe, and Other countries of which a majority of revenue is generated from the PRC.

Executives

Zhang Jing Ru	2202 Interest of your spouse
Zhao Pu	2101 Beneficial owner
Kong Linglei	2201 Interest of corporation controlled by you
Ying Stone Holdings Limited	2101 Beneficial owner
Tong Chuang Sheng De Limited	2101 Beneficial owner
Tong Chuang Xing De Limited	2101 Beneficial owner
Shang Hai Heng Yuan Guo Ji Tou Zi You Xian Gong Si	2101 Beneficial owner

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