Red Avenue New Materials Group Balance Sheet Health
Financial Health criteria checks 3/6
Red Avenue New Materials Group has a total shareholder equity of CN¥3.5B and total debt of CN¥2.5B, which brings its debt-to-equity ratio to 71.1%. Its total assets and total liabilities are CN¥7.6B and CN¥4.0B respectively. Red Avenue New Materials Group's EBIT is CN¥251.3M making its interest coverage ratio -1.6. It has cash and short-term investments of CN¥857.3M.
Key information
71.1%
Debt to equity ratio
CN¥2.52b
Debt
| Interest coverage ratio | -1.6x |
| Cash | CN¥857.30m |
| Equity | CN¥3.55b |
| Total liabilities | CN¥4.04b |
| Total assets | CN¥7.59b |
Recent financial health updates
No updates
Financial Position Analysis
Short Term Liabilities: 603650's short term assets (CN¥2.5B) exceed its short term liabilities (CN¥1.8B).
Long Term Liabilities: 603650's short term assets (CN¥2.5B) exceed its long term liabilities (CN¥2.3B).
Debt to Equity History and Analysis
Debt Level: 603650's net debt to equity ratio (46.9%) is considered high.
Reducing Debt: 603650's debt to equity ratio has increased from 19.5% to 71.1% over the past 5 years.
Debt Coverage: 603650's debt is not well covered by operating cash flow (7.3%).
Interest Coverage: 603650 earns more interest than it pays, so coverage of interest payments is not a concern.