Ningbo Cixing Co (SZSE:300307) Long-Term Capital Lease Obligation : ¥8 Mil (As of Mar. 2024)

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What is Ningbo Cixing Co Long-Term Capital Lease Obligation?

Ningbo Cixing Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥8 Mil.

Ningbo Cixing Co's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (¥9 Mil) to Dec. 2023 (¥4 Mil) but then increased from Dec. 2023 (¥4 Mil) to Mar. 2024 (¥8 Mil).

Ningbo Cixing Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (¥3 Mil) to Dec. 2022 (¥1 Mil) but then increased from Dec. 2022 (¥1 Mil) to Dec. 2023 (¥4 Mil).

Ningbo Cixing Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Ningbo Cixing 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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Ningbo Cixing Co Long-Term Capital Lease Obligation Chart

Ningbo Cixing Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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8.90

2.95

0.86

4.42

Ningbo Cixing 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															0.63	10.35	9.31	4.42	8.30

Ningbo Cixing Co (SZSE:300307) 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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Ningbo Cixing Co (SZSE:300307) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Ningbo Cixing Co Ltd (SZSE:300307) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

West Weisan Road, Andong Town Industrial Zone, Cixi, CHN, 315327

Website

http://www.ci-xing.com

Ningbo Cixing Co Ltd is engaged in the research and development, manufacture and distribution of computerized knitting machines. The company's main products include computerized flat knitting machines, computerized seamless underwear circular knitting machines, stocking machine, and circular knitting machine.

Executives

Lu De Chun	Executives
Liu Dao Cheng	Executives
Hu Xue Qun	Supervisors
Sun Ping Fan	Directors, executives
Yang Xue Lan	Securities Affairs Representative
Li Li Jun	Directors, executives

Ningbo Cixing Co (SZSE:300307) Headlines

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