Zhejiang Xinao Textiles Inc.

SHSE:603889 Stock Report

Market Cap: CN¥5.2b

Zhejiang Xinao Textiles Balance Sheet Health

Financial Health criteria checks 5/6

Zhejiang Xinao Textiles has a total shareholder equity of CN¥3.5B and total debt of CN¥1.5B, which brings its debt-to-equity ratio to 42.4%. Its total assets and total liabilities are CN¥5.9B and CN¥2.4B respectively. Zhejiang Xinao Textiles's EBIT is CN¥494.3M making its interest coverage ratio 30.2. It has cash and short-term investments of CN¥866.8M.

Key information

42.4%

Debt to equity ratio

CN¥1.48b

Debt

Interest coverage ratio30.2x
CashCN¥866.82m
EquityCN¥3.49b
Total liabilitiesCN¥2.37b
Total assetsCN¥5.86b

Recent financial health updates

No updates

Recent updates

Zhejiang Xinao Textiles' (SHSE:603889) Solid Earnings May Rest On Weak Foundations

Oct 28
Zhejiang Xinao Textiles' (SHSE:603889) Solid Earnings May Rest On Weak Foundations

Are Investors Undervaluing Zhejiang Xinao Textiles Inc. (SHSE:603889) By 43%?

Oct 15
Are Investors Undervaluing Zhejiang Xinao Textiles Inc. (SHSE:603889) By 43%?

Zhejiang Xinao Textiles Inc.'s (SHSE:603889) Price Is Right But Growth Is Lacking

Sep 30
Zhejiang Xinao Textiles Inc.'s (SHSE:603889) Price Is Right But Growth Is Lacking

CN¥8.85: That's What Analysts Think Zhejiang Xinao Textiles Inc. (SHSE:603889) Is Worth After Its Latest Results

Apr 21
CN¥8.85: That's What Analysts Think Zhejiang Xinao Textiles Inc. (SHSE:603889) Is Worth After Its Latest Results

Is Zhejiang Xinao Textiles Inc. (SHSE:603889) Trading At A 32% Discount?

Apr 18
Is Zhejiang Xinao Textiles Inc. (SHSE:603889) Trading At A 32% Discount?

Financial Position Analysis

Short Term Liabilities: 603889's short term assets (CN¥3.5B) exceed its short term liabilities (CN¥1.7B).

Long Term Liabilities: 603889's short term assets (CN¥3.5B) exceed its long term liabilities (CN¥699.4M).


Debt to Equity History and Analysis

Debt Level: 603889's net debt to equity ratio (17.6%) is considered satisfactory.

Reducing Debt: 603889's debt to equity ratio has increased from 14% to 42.4% over the past 5 years.

Debt Coverage: 603889's debt is well covered by operating cash flow (49.3%).

Interest Coverage: 603889's interest payments on its debt are well covered by EBIT (30.2x coverage).


Balance Sheet


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