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¥3.3B and total debt of CN¥3.4B, which brings its debt-to-equity ratio to 102.1%. Its total assets and total liabilities are CN¥7.8B and CN¥4.5B respectively. Red Avenue New Materials Group's EBIT is CN¥282.3M making its interest coverage ratio -1.2. It has cash and short-term investments of CN¥1.0B.
Key information
102.1%
Debt to equity ratio
CN¥3.38b
Debt
| Interest coverage ratio | -1.2x |
| Cash | CN¥1.04b |
| Equity | CN¥3.32b |
| Total liabilities | CN¥4.52b |
| Total assets | CN¥7.83b |
Recent financial health updates
Red Avenue New Materials Group (SHSE:603650) Has A Pretty Healthy Balance Sheet
Sep 11
These 4 Measures Indicate That Red Avenue New Materials Group (SHSE:603650) Is Using Debt Reasonably Well
Jun 09Recent updates
Red Avenue New Materials Group (SHSE:603650) Has A Pretty Healthy Balance Sheet
Sep 11Risks 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¥2.8B) exceed its short term liabilities (CN¥1.9B).
Long Term Liabilities: 603650's short term assets (CN¥2.8B) exceed its long term liabilities (CN¥2.6B).
Debt to Equity History and Analysis
Debt Level: 603650's net debt to equity ratio (70.7%) is considered high.
Reducing Debt: 603650's debt to equity ratio has increased from 35.3% to 102.1% over the past 5 years.
Debt Coverage: 603650's debt is not well covered by operating cash flow (8.5%).
Interest Coverage: 603650 earns more interest than it pays, so coverage of interest payments is not a concern.