China New Energy (FRA:9H5) ROCE % : -141.10% (As of Dec. 2023)

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What is China New Energy ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. China New Energy's annualized ROCE % for the quarter that ended in Dec. 2023 was -141.10%.

China New Energy ROCE % Historical Data

The historical data trend for China New Energy's ROCE % 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 New Energy ROCE % Chart

China New Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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72.39

29.73

4.48

-23.84

-75.17

China New Energy Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															-21.73	-7.51	-39.93	-15.88	-141.10

China New Energy ROCE % Calculation

China New Energy's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-13.944	/	( ( (65.43 - 38.732)	+	(41.919 - 31.518) )	/ 2 )
	=	-13.944	/	( (26.698	+	10.401)	/ 2 )
	=	-13.944	/	18.5495
	=	-75.17 %

China New Energy's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-23.916	/	( ( (59.835 - 36.336)	+	(41.919 - 31.518) )	/ 2 )
	=	-23.916	/	( ( 23.499	+	10.401 )	/ 2 )
	=	-23.916	/	16.95
	=	-141.10 %

(1) Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

China New Energy (FRA:9H5) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

China New Energy ROCE % Related Terms

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China New Energy (FRA:9H5) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » China New Energy Ltd (FRA:9H5) » Definitions » ROCE %

Comparable Companies

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01156:Hong Kong

Address

No. 80, Lanyue Road, Unit 210, 2nd Floor, Science City, Comprehensive Service Building Science & Technology Innovation Base, Guangzhou High-tech Industrial Development Zone,, Guangzhou, CHN, 510640

Website

https://www.zkty.com.cn

China New Energy Ltd is a provider of bioenergy technology solutions. The Group is engaged in the provision of ethanol production system technology integrated services in the ethanol fuel and alcoholic beverage industries The company offers technology services to two industries: Ethanol fuel construction services and Alcoholic beverage construction services. It generates maximum revenue from the Ethanol fuel construction services streams. Geographically, it derives a majority of revenue from the PRC and also has a presence in Canada, Russia, Thailand, and Myanmar.

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