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Zhuzhou CRRC Times Electric Revenue

Zhuzhou CRRC Times Electric revenue was ¥15.12 b in FY, 2021

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Summary - Funding Rounds

Founding Date

1959

Zhuzhou CRRC Times Electric Revenue Breakdown

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Zhuzhou CRRC Times Electric revenue breakdown by business segment: 81.0% from Rail Transit Equipment Business, 17.0% from Emerging Equipment Business and 2.0% from Other

Zhuzhou CRRC Times Electric revenue breakdown by geographic segment: 95.5% from Mainland China and 4.5% from Other

Zhuzhou CRRC Times Electric Income Statement

Annual

CNYFY, 2019FY, 2020FY, 2021

Revenue

16.3b16.0b15.1b

Cost of goods sold

10.0b10.1b10.0b

Gross profit

6.3b6.0b5.1b

Gross profit Margin, %

39%37%34%

Sales and marketing expense

1.1b1.1b1.1b

R&D expense

1.6b1.7b1.7b

General and administrative expense

849.9m760.7m813.0m

Operating expense total

3.6b3.6b3.6b

EBIT

2.9b2.8b2.1b

EBIT margin, %

18%17%14%

Interest expense

25.5m16.0m21.1m

Interest income

28.7m42.5m95.5m

Investment income

95.0m43.2m33.6m

Pre tax profit

2.9b2.8b2.1b

Income tax expense

275.1m340.4m88.5m

Net Income

2.7b2.5b2.0b

EPS

2.32.11.6

Half Year

CNYH1, 2020H1, 2021

Revenue

5.6b5.3b

Cost of goods sold

3.4b3.3b

Gross profit

2.1b2.0b

Gross profit Margin, %

39%38%

Sales and marketing expense

360.3m405.7m

R&D expense

605.2m640.9m

General and administrative expense

272.5m288.9m

Operating expense total

1.2b1.3b

EBIT

815.3m793.1m

EBIT margin, %

15%15%

Interest expense

7.3m6.0m

Interest income

19.6m28.1m

Investment income

55.9m31.6m

Pre tax profit

842.5m801.3m

Income tax expense

157.7m98.3m

Net Income

684.8m703.0m

EPS

0.60.6

Zhuzhou CRRC Times Electric Balance Sheet

Annual

CNYFY, 2019FY, 2020FY, 2021

Cash

4.3b5.1b8.2b

Accounts Receivable

7.4b7.9b6.5b

Prepaid Expenses

325.4m358.9m344.5m

Inventories

3.8b4.3b4.9b

Current Assets

26.8b26.4b34.6b

PP&E

3.0b2.8b4.0b

Goodwill

417.1m246.9m191.1m

Total Assets

33.0b33.9b44.2b

Accounts Payable

4.4b3.6b4.7b

Short-term debt

538.3m795.0m818.2m

Current Liabilities

9.4b7.9b9.2b

Long-term debt

302.0m139.4m155.9m

Non-Current Liabilities

1.4b1.7b1.7b

Total Debt

840.3m934.3m974.2m

Total Liabilities

10.8b9.6b10.9b

Common Stock

1.2b1.2b1.4b

Retained Earnings

15.5b17.2b18.3b

Total Equity

22.2b24.3b33.3b

Debt to Equity Ratio

0 x0 x0 x

Debt to Assets Ratio

0 x0 x0 x

Financial Leverage

1.5 x1.4 x1.3 x

Half Year

CNYH1, 2020H1, 2021

Cash

5.6b4.5b

Accounts Receivable

8.4b9.3b

Prepaid Expenses

301.4m234.7m

Inventories

5.5b5.5b

Current Assets

27.1b27.1b

PP&E

2.8b2.6b

Goodwill

268.8m244.3m

Total Assets

33.7b34.9b

Accounts Payable

4.7b4.4b

Short-term debt

623.0m812.7m

Current Liabilities

10.0b8.2b

Long-term debt

297.4m140.0m

Non-Current Liabilities

1.4b1.7b

Total Debt

920.4m952.8m

Total Liabilities

11.3b9.9b

Common Stock

1.2b1.2b

Retained Earnings

15.6b17.9b

Total Equity

22.4b25.0b

Debt to Equity Ratio

0 x0 x

Debt to Assets Ratio

0 x0 x

Financial Leverage

1.5 x1.4 x

Zhuzhou CRRC Times Electric Cash Flow

Annual

CNYFY, 2019FY, 2020FY, 2021

Net Income

2.7b2.5b2.0b

Depreciation and Amortization

379.9m398.8m397.4m

Accounts Receivable

(2.5b)966.1m(783.1m)

Inventories

(674.3m)(556.9m)(755.3m)

Accounts Payable

1.7b(1.8b)1.2b

Cash From Operating Activities

1.8b1.7b2.2b

Purchases of PP&E

(750.5m)(1.9b)(974.0m)

Cash From Investing Activities

(1.5b)(629.7m)(6.0b)

Long-term Borrowings

(267.1m)(210.8m)(232.4m)

Dividends Paid

(19.8m)(17.7m)(13.4m)

Cash From Financing Activities

(507.3m)(545.2m)7.0b

Net Change in Cash

(136.9m)539.8m3.1b

Half Year

CNYH1, 2020H1, 2021

Net Income

684.8m703.0m

Depreciation and Amortization

204.2m188.0m

Accounts Receivable

975.5m(1.4b)

Inventories

(1.8b)(1.3b)

Accounts Payable

(34.8m)(464.8m)

Cash From Operating Activities

296.5m(2.1b)

Purchases of PP&E

(686.7m)(430.0m)

Cash From Investing Activities

1.1b730.0m

Long-term Borrowings

(6.2m)(28.4m)

Dividends Paid

(8.6m)(2.3m)

Cash From Financing Activities

(132.5m)(37.8m)

Net Change in Cash

1.3b(1.4b)

Zhuzhou CRRC Times Electric Ratios

CNYFY, 2019

Revenue/Employee

2.0m

Financial Leverage

1.5 x