Guangdong Haomei New MaterialsLtd Balance Sheet Health
Financial Health criteria checks 3/6
Guangdong Haomei New MaterialsLtd has a total shareholder equity of CN¥2.6B and total debt of CN¥2.5B, which brings its debt-to-equity ratio to 96.3%. Its total assets and total liabilities are CN¥5.8B and CN¥3.2B respectively. Guangdong Haomei New MaterialsLtd's EBIT is CN¥348.5M making its interest coverage ratio 3.8. It has cash and short-term investments of CN¥256.3M.
Key information
96.3%
Debt to equity ratio
CN¥2.49b
Debt
Interest coverage ratio | 3.8x |
Cash | CN¥256.34m |
Equity | CN¥2.59b |
Total liabilities | CN¥3.17b |
Total assets | CN¥5.76b |
Recent financial health updates
No updates
Financial Position Analysis
Short Term Liabilities: 002988's short term assets (CN¥3.5B) exceed its short term liabilities (CN¥2.2B).
Long Term Liabilities: 002988's short term assets (CN¥3.5B) exceed its long term liabilities (CN¥934.1M).
Debt to Equity History and Analysis
Debt Level: 002988's net debt to equity ratio (86.4%) is considered high.
Reducing Debt: 002988's debt to equity ratio has increased from 73.6% to 96.3% over the past 5 years.
Debt Coverage: 002988's debt is not well covered by operating cash flow (10.8%).
Interest Coverage: 002988's interest payments on its debt are well covered by EBIT (3.8x coverage).