China Grand Automotive Services Group Co (SHSE:600297) Long-Term Capital Lease Obligation : ¥2,383 Mil (As of Mar. 2024)

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What is China Grand Automotive Services Group Co Long-Term Capital Lease Obligation?

China Grand Automotive Services Group Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥2,383 Mil.

China Grand Automotive Services Group Co's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (¥2,544 Mil) to Dec. 2023 (¥2,341 Mil) but then increased from Dec. 2023 (¥2,341 Mil) to Mar. 2024 (¥2,383 Mil).

China Grand Automotive Services Group Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (¥2,764 Mil) to Dec. 2022 (¥2,579 Mil) and declined from Dec. 2022 (¥2,579 Mil) to Dec. 2023 (¥2,341 Mil).

China Grand Automotive Services Group Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for China Grand Automotive Services Group Co'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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China Grand Automotive Services Group Co Long-Term Capital Lease Obligation Chart

China Grand Automotive Services Group Co Annual Data

Trend

Dec14

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Dec23

Long-Term Capital Lease Obligation

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3,097.79

2,763.83

2,579.42

2,341.02

China Grand Automotive Services Group Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2,587.42	2,478.25	2,543.93	2,341.02	2,383.35

China Grand Automotive Services Group Co (SHSE:600297) 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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China Grand Automotive Services Group Co (SHSE:600297) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » China Grand Automotive Services Group Co Ltd (SHSE:600297) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

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Address

3998 Hongjing Road, Baoxin Building, Hongqiao Town, Minhang District, Shanghai, CHN, 201103

Website

http://www.chinagrandauto.com

China Grand Automotive Services Group Co Ltd is a vehicle dealership and automotive services company. It owns and operates vehicle dealership groups in China. It retails new and used as well as spare parts; rents cars; and provides after-sales service. The company is based in Shanghai, China.

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