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¥2.9B, which brings its debt-to-equity ratio to 82.9%. Its total assets and total liabilities are CN¥7.6B and CN¥4.0B respectively. Red Avenue New Materials Group's EBIT is CN¥247.2M making its interest coverage ratio -1.5. It has cash and short-term investments of CN¥857.3M.
Key information
82.9%
Debt to equity ratio
CN¥2.94b
Debt
Interest coverage ratio | -1.5x |
Cash | CN¥857.30m |
Equity | CN¥3.55b |
Total liabilities | CN¥4.04b |
Total assets | CN¥7.59b |
Recent financial health updates
Recent updates
Risks To Shareholder Returns Are Elevated At These Prices For Red Avenue New Materials Group Co., Ltd. (SHSE:603650)
Jun 26These 4 Measures Indicate That Red Avenue New Materials Group (SHSE:603650) Is Using Debt Reasonably Well
Jun 09Red Avenue New Materials Group Co., Ltd.'s (SHSE:603650) Shares May Have Run Too Fast Too Soon
Mar 01Financial 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 (58.8%) is considered high.
Reducing Debt: 603650's debt to equity ratio has increased from 19.5% to 82.9% over the past 5 years.
Debt Coverage: 603650's debt is not well covered by operating cash flow (6.2%).
Interest Coverage: 603650 earns more interest than it pays, so coverage of interest payments is not a concern.