Joincare Pharmaceutical Group Industry Co (SHSE:600380) Net-Net Working Capital : ¥-2.00 (As of Mar. 2024)

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What is Joincare Pharmaceutical Group Industry Co Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Joincare Pharmaceutical Group Industry Co's Net-Net Working Capital for the quarter that ended in Mar. 2024 was ¥-2.00.

The industry rank for Joincare Pharmaceutical Group Industry Co's Net-Net Working Capital or its related term are showing as below:

SHSE:600380's Price-to-Net-Net-Working-Capital is not ranked ^*
in the Drug Manufacturers industry.
Industry Median: 6.74
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Joincare Pharmaceutical Group Industry Co Net-Net Working Capital Historical Data

The historical data trend for Joincare Pharmaceutical Group Industry Co's Net-Net Working Capital 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.

Joincare Pharmaceutical Group Industry Co Net-Net Working Capital Chart

Joincare Pharmaceutical Group Industry Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Net-Net Working Capital

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-0.83

-1.02

-2.20

-2.12

-1.87

Joincare Pharmaceutical Group Industry Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Net-Net Working Capital	Get a 7-Day Free Trial															-2.30	-2.40	-2.29	-1.87	-2.00

Competitive Comparison of Joincare Pharmaceutical Group Industry Co's Net-Net Working Capital

For the Drug Manufacturers - Specialty & Generic subindustry, Joincare Pharmaceutical Group Industry Co's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital 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.

Joincare Pharmaceutical Group Industry Co's Price-to-Net-Net-Working-Capital Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Joincare Pharmaceutical Group Industry Co's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Joincare Pharmaceutical Group Industry Co's Price-to-Net-Net-Working-Capital falls into.

Joincare Pharmaceutical Group Industry Co Net-Net Working Capital Calculation

Joincare Pharmaceutical Group Industry Co's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2023 is calculated as

	Net-Net Working Capital		(A: Dec. 2023 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(15774.787	+	0.75 * 2692.942	+	0.5 * 2655.808	-	13718.596
-	0	-	8883.629)	/	1865.52
=	-1.87

Joincare Pharmaceutical Group Industry Co's Net-Net Working Capital (NNWC) per share for the quarter that ended in Mar. 2024 is calculated as

	Net-Net Working Capital		(Q: Mar. 2024 )
=	(Cash, Cash Equivalents, Marketable Securities	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(15206.826	+	0.75 * 2641.495	+	0.5 * 2611.9	-	12925.489
-	0	-	9301.788)	/	1866.63
=	-2.00

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.

Joincare Pharmaceutical Group Industry Co (SHSE:600380) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.

Joincare Pharmaceutical Group Industry Co Net-Net Working Capital Related Terms

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Joincare Pharmaceutical Group Industry Co (SHSE:600380) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Joincare Pharmaceutical Group Industry Co Ltd (SHSE:600380) » Definitions » Net-Net Working Capital

Traded in Other Exchanges

N/A

Address

No. 17 Langshan Road, Joincare Pharmaceutical Group Building, Nanshan New and High-Tech Industrial Development (, Shenzhen, Guangdong, CHN, 518057

Website

http://www.joincare.com

Joincare Pharmaceutical Group Industry Co Ltd is an integrated pharmaceutical company, the business scope covers healthcare products, APIs, final dosage forms, prescription drugs, OTCs, Chinese traditional medicine, chemical drugs, and testing agents. APIs are antibiotic series and their intermediates 7ACA, 4AA and F9. Prescription drugs focus on the realms of the digestive tract, a blood vessel of heart and brain, infection, tumor, nervous cerebrovascular section, urinary system etc. OTCs include gastrointestinal drug Dele-Livzon, Live Bifidobacterium Preparation, oral ulcer drugs Yiketie, cold medicine Antiviral Oral Granule, External use skin medicine.

Executives

Yu Xiong	Directors, senior managers
Zhao Feng Guang	senior management
Qiu Qing Feng	Directors, senior managers
Tang Ling Zhi	senior management
Lin Nan Qi	Directors, senior managers
Cao Ping Wei	Director
Feng Yan Fang	Director
Zhong Shan	senior management
Yang Dong Yun	senior management
Peng Jin Hua	Supervisors
Xie You Guo	Supervisors
Guo Xiao Yun	Supervisors
Su Qing Wen	senior management

Joincare Pharmaceutical Group Industry Co (SHSE:600380) Headlines

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