Guangdong Tengen Industrial Group C

SZSE:003003

China / Materials / Containers & Packaging

Overview

News

5Y Historical Financials

Stock Price

9.81 CNY


Key Metrics	Latest
Total Revenue	1.182 B
Adjusted EBITDA	113.6 M
EBITDA Margin	9.6%
Net Profit Margin	5.5%
Total Assets	1.836 B
Total Debt	361.9 M

5Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Dec-19	Dec-20	Dec-21	Jan-23	Dec-23	12 Months	Sep-23	Sep-24

Revenue	1,003.92	1,015.34	1,288.84	1,454.24	1,416.58	1,182.33	1,119.34	885.09
% Growth		0.01	0.27	0.13	(0.03)			(0.21)

Adjusted EBITDA	113.00	80.28	38.97	50.27	106.51	113.56	84.14	91.19
% Margin	0.11	0.08	0.03	0.03	0.08	0.10	0.08	0.10

Adjusted EBIT	90.81	54.69	1.63	(1.85)	58.39	68.44	45.05	55.10
% Margin	0.09	0.05	0.00	(0.00)	0.04	0.06	0.04	0.06

Adjusted Net Income	82.01	54.43	14.46	0.41	50.52	65.43	37.46	52.37
% Margin	0.08	0.05	0.01	0.00	0.04	0.06	0.03	0.06

Adjusted Basic EPS	0.61	0.38	0.08	0.00	0.28	0.37	0.21	0.30

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
						Original
CNY	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Dec-19	Dec-20	Dec-21	Jan-23	Dec-23	Sep-24	Sep-23	Sep-24
	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM	YTD-1	YTD

Revenue	1,004	1,015	1,289	1,454	1,417	1,182	1,119	885
% Growth	NA	1.1%	26.9%	12.8%	-2.6%			-20.9%

Cost of Revenue	(782)	(851)	(1,138)	(1,302)	(1,214)	(967)	(971)	(725)
Gross Profit	222	165	151	153	203	215	148	160
% Revenue	22.1%	16.2%	11.7%	10.5%	14.3%	18.2%	13.2%	18.1%

Research and Development	(38)	(44)	(54)	(57)	(60)	(56)	(45)	(40)
Selling and Marketing	(58)	(27)	(37)	(28)	(34)	(39)	(24)	(29)
General and Admin	(30)	(34)	(53)	(62)	(46)	(48)	(33)	(35)
Other Inc / (Exp)	(5)	(1)	7	(14)	(13)	(4)	(14)	(6)
Total Operating Exp	(131)	(106)	(137)	(160)	(154)	(148)	(115)	(110)

Operating Income	91	59	13	(8)	49	67	32	50
% Revenue	9.1%	5.8%	1.0%	-0.5%	3.5%	5.7%	2.9%	5.7%

Interest Expense	4	4	8	(4)	2	7	(0)	4
Pre-tax Income	95	62	22	(11)	52	74	32	54
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0
Provision for Taxes	(13)	(3)	3	9	(5)	(8)	(3)	(6)
Net Income to Company	83	59	25	(3)	46	66	29	49
% Margin	8.2%	5.8%	2.0%	-0.2%	3.3%	5.6%	2.6%	5.5%

Minority Interest in Earnings	0	(0)	1	(1)	4	4	1	2
Net Income to Stockholders	83	59	26	(3)	50	70	30	50

Preferred Dividends	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	0	0	0

Net Income to Common	83	59	26	(3)	50	70	30	50
% Margin	8.2%	5.8%	2.0%	-0.2%	3.5%	5.9%	2.7%	5.7%

As Reported
Basic EPS (Continuing Ops)	0.62	0.41	0.15	(0.02)	0.28	0.40	0.17	0.29
Diluted EPS (Continuing Ops)	0.62	0.41	0.15	(0.02)	0.28	0.40	0.17	0.29

WA Basic Shares Out.	133.37	143.60	172.90	168.13	179.04	177.94	176.98	175.88
WA Diluted Shares Out.	133.37	143.60	172.90	168.13	179.04	177.94	176.98	175.88

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	95	62	22	(11)	52	74	32	54
Addback: Net Interest Expense	(4)	(4)	(8)	4	(2)	(7)	0	(4)
Addback: Other Non Operating Expenses, Total	1	2	3	2	3	2	2	0
Addback: Depreciation & Amortization	22	26	37	52	48	45	39	36
Addback: Restructuring Charges	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	0	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	0	(2)	(1)	(0)	(0)	(3)	(2)	(4)
Addback: Gain (Loss) On Sale Of Assets	0	0	(0)	0	2	(0)	2	0
Addback: Asset Writedown	0	0	1	1	11	8	11	7
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	(0)	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	(1)	(4)	(15)	3	(6)	(5)	0	1
Adjusted EBITDA	113	80	39	50	107	114	84	91
% Margin	11.3%	7.9%	3.0%	3.5%	7.5%	9.6%	7.5%	10.3%

Adjusted EBIT	91	55	2	(2)	58	68	45	55
% Margin	9.0%	5.4%	0.1%	-0.1%	4.1%	5.8%	4.0%	6.2%

Adjusted Net Income Reconciliation
Net Income to Company	83	59	25	(3)	46	66	29	49
Addback: Unusual Items	(1)	(6)	(15)	4	6	(1)	11	5
Less: Tax Benefit of Unusual Items (26%)	0	2	4	(1)	(1)	0	(3)	(1)
Adjusted Net Income	82	54	14	0	51	65	37	52
% Margin	8.2%	5.4%	1.1%	0.0%	3.6%	5.5%	3.3%	5.9%

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Guangdong Tengen Industrial Group C

SZSE:003003

China / Materials / Containers & Packaging

5Y Historical Financials