China Medical System Holdings Limited - 0867.HK

0867.HK Returns vs S&P 500 ⓘ

ticker	1 day return %	1 week return %	1 month return %	3 months return %	6 months return %	1 year return %	3 years return %	5 years return %	10 years return %	maximum return %
0867.HK	3.0	1.0	-3.1	-18.2	9.8	-36.7	-48.9	-40.3	-46.7	138.5
S&P 500	1.0	1.5	1.1	2.3	8.9	23.6	33.8	80.6	196.5	33856.2

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Returns Charts ⓘ

Interactive Price Chart

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Real-time Full Quote

Attribute	Value
symbol	0867.HK
name	China Medical System Holdings Limited
price	7.18
changes percentage	3.0129
change	0.21
day low	6.97
day high	7.23
year high	13.16
year low	6.23
market cap	17350685400
price avg 50	7.5154
price avg 200	7.3677
exchange	HKSE
volume	3854450
avg volume	4463229
open	6.97
previous close	6.97
eps	0.6
pe	11.97
earnings announcement	2025-03-25T10:59:00.000+0000
shares outstanding	2416530000
timestamp	2025-01-20 08:08:32

Financial Statements ⓘ

We derive the score of a company's financial statements by evaluating the weighted average sentiment across key within the statements. The cumulative score, normalized to a sum of 1, serves as a metric for assessing the company's performance during the specified period. A higher score indicates stronger performance. However, it's crucial to note that while this score provides valuable insights, it is just one of many factors to consider when making informed investment decisions. A holistic evaluation, considering various aspects of the company's financial health and market conditions, is essential for a well-rounded investment strategy.

Overall Annual Financial Health: 30.7%

Overall Quarterly Financial Health: 26.3%

Income Statements ⓘ

• Annual Income Statement

Note: The years below are fiscal years in accounting.

	2023	2022	Y/Y change %
0000000000
revenue	8013285000	9150347000	-12.43
gross profit	6109166000	7035847000	-13.17
gross profit ratio	0.76	0.77	-0.85
research and development expenses	195134000	125431000	55.57
operating expenses	3363103000	3390292000	-0.80
interest income	146475000	105515000	38.82
interest expense	46251000	49086000	-5.78
ebitda	2922149000	3849670000	-24.09
ebitdaratio	0.36	0.42	-13.32
operating income	2712848000	4020476291	-32.52
operating income ratio	0.34	0.44	-22.95
net income	2400940000	3258992000	-26.33
net income ratio	0.3	0.36	-15.88
eps	0.98	1.33	-26.32

Overall Score of Annual Income Statement

0.25 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Revenue Growth: revenue decreased to 8,013 million in 2023 from 9,150 million in 2022 representing a change of -12.43%. This indicates a sales shrinking, which is a negative sign for the company.

  Gross Profit: Gross Profit decreased to 6,109 million in 2023 from 7,036 million in 2022 representing a change of -13.17%. This indicates a sales profitability decline, which is a negative sign for the company.

  EBITDA: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased to 2,922 million in 2023 from 3,850 million in 2022 representing a change of -24.09%. The decrease in EBITDA indicates declined operational efficiency and profitability.

  Operating Income: Operating income decreased to 2,713 million in 2023 from 4,020 million in 2022 representing a change of -32.52%. The decrease in operating income indicates worse operational performance and decreased profitability.

  Net Income: Net income decreased to 2,401 million in 2023 from 3,259 million in 2022 representing a change of -26.33%. The decrease in net income shows worsen profitability and indicates that the company is generating less profit for each dollar of revenue.

  Earnings per Share (EPS): EPS increased to 0.98 in 2023 from 0.98 in 2022 representing a change of -26.32%. This indicates that the company's earnings are decreasing and it is becoming less profitable on a per-share basis.

• 📈 Positive Indicators

  Research and Development (R&D) Expenses: R&D Expenses increased to 195 million in 2023 from 125 million in 2022 representing a change of 55.57%. This shows that the company continues to invest in innovation and product development, which is crucial for long-term growth.

  Operating Expenses: Operating Expenses decreased to 3,363 million in 2023 from 3,390 million in 2022 representing a change of -0.8%. The decrease in operating expenses can be attributed to various factors such as improved profitability, cost optimization and financial stability, lower operating expenses can be positive indicators.

• Quarterly Income Statement

Note: The years below are fiscal years in accounting.

	2024Q2	2023Q4	Q/Q change %
0000000000
revenue	3611069000	3403158000	6.11
gross profit	2696500000	2470061000	9.17
gross profit ratio	0.75	0.73	2.88
research and development expenses	105575000	119394000	-11.57
operating expenses	1867539000	1629759000	14.59
interest income	0	87176000	-100.00
interest expense	0	0	NaN
ebitda	943024000	946058000	-0.32
ebitdaratio	0.26	0.28	-6.06
operating income	828961000	840302000	-1.35
operating income ratio	0.23	0.25	-7.03
net income	910426000	479884000	89.72
net income ratio	0.25	0.14	78.79
eps	0.37	0.2	88.97

Overall Score of Quarterly Income Statement

0.5 out of 1

Detailed Analysis

• 📈 Positive Indicators

  Revenue Growth: revenue increased to 3,611 million in 2024Q2 from 3,403 million in 2023Q4 representing a change of 6.11%. This indicates a sales growth, which is a positive sign for the company.

  Gross Profit: Gross Profit increased to 2,696 million in 2024Q2 from 2,470 million in 2023Q4 representing a change of 9.17%. This indicates a sales profitability growth, which is a positive sign for the company.

  Net Income: Net income increased to 910 million in 2024Q2 from 480 million in 2023Q4 representing a change of 89.72%. The increase in net income shows improved profitability and indicates that the company is generating more profit for each dollar of revenue.

  Earnings per Share (EPS): EPS increased to 0.37 in 2024Q2 from 0.37 in 2023Q4 representing a change of 88.97%. This indicates that the company's earnings are increasing and it is becoming more profitable on a per-share basis.

• 📉 Negative Indicators

  Research and Development (R&D) Expenses: R&D Expenses decreased to 106 million in 2024Q2 from 119 million in 2023Q4 representing a change of -11.57%. This shows that the company decreased investment in innovation and product development, which is not a good sign for long-term growth.

  Operating Expenses: Operating Expenses increased to 1,868 million in 2024Q2 from 1,630 million in 2023Q4 representing a change of 14.59%. The increase in operating expenses can be attributed to various factors such as marketing, administrative costs, and investments in infrastructure. It's important to monitor if these expenses are growing at a sustainable rate compared to revenue.

  EBITDA: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) decreased to 943 million in 2024Q2 from 946 million in 2023Q4 representing a change of -0.32%. The decrease in EBITDA indicates declined operational efficiency and profitability.

  Operating Income: Operating income decreased to 829 million in 2024Q2 from 840 million in 2023Q4 representing a change of -1.35%. The decrease in operating income indicates worse operational performance and decreased profitability.

Balance Sheets ⓘ

• Annual Balance Sheet

Note: The years below are fiscal years in accounting.

	2023	2022	Y/Y change %
0000000000
total assets	17730837000	17753539000	-0.13
total liabilities	2174430000	3016462000	-27.91
total equity	15556407000	14737077000	5.56
cash and cash equivalents	4311058000	4376376000	-1.49
short term investments	1832258000	1491336000	22.86
long term investments	3614876000	3782103667	-4.42
total current assets	8794435000	8829376000	-0.40
total non current assets	8936402000	8924163000	0.14
total current liabilities	2048786000	2877103000	-28.79
total non current liabilities	125644000	139359000	-9.84
common stock	83991000	83991000	0.00
retained earnings	13425964000	14160443636	-5.19
total debt	1301737000	1812632000	-28.19

Overall Score of Annual Balance Sheet

0.56 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Total Assets: Total Assets decreased to 17,731 million in 2023 from 17,754 million in 2022 representing a change of -0.13%. Suggesting a decrease in asset holdings.

  Cash And Cash Equivalents: Cash And Cash Equivalents decreased to 4,311 million in 2023 from 4,376 million in 2022 representing a change of -1.49%. This indicates a decrease in available liquid assets.

  Total Current Assets: Total Current Assets decreased to 8,794 million in 2023 from 8,829 million in 2022 representing a change of -0.4%. This indicates a worsen liquidity position.

  Retained Earnings: Retained Earnings decreased to 13,426 million in 2023 from 14,160 million in 2022 representing a change of -5.19%. This indicates an accumulated losses.

• 📈 Positive Indicators

  Total Liabilities: Total Liabilities decreased to 2,174 million in 2023 from 3,016 million in 2022 representing a change of -27.91%. This indicates a decrease in overall liabilities.

  Total Equity: Total Equity increased to 15,556 million in 2023 from 14,737 million in 2022 representing a change of 5.56%. This indicates an increase in shareholders' equity.

  Short Term Investments: Short Term Investments increased to 1,832 million in 2023 from 1,491 million in 2022 representing a change of 22.86%. This indicates an increase in short-term investment holdings.

  Total Current Liabilities: Total Current Liabilities decreased to 2,049 million in 2023 from 2,877 million in 2022 representing a change of -28.79%. This indicates a lower short-term debt burden.

  Total Debt: Total Debt decreased to 1,302 million in 2023 from 1,813 million in 2022 representing a change of -28.19%. This indicates a reduction in overall debt burden.

• Quarterly Balance Sheet

Note: The years below are fiscal years in accounting.

	2024Q2	2024Q1	Q/Q change %
0000000000
total assets	18149138000	18149138000	0.00
total liabilities	2177142000	2177142000	0.00
total equity	15971996000	15971996000	0.00
cash and cash equivalents	3914372000	3914372000	0.00
short term investments	2129185000	2129185000	0.00
long term investments	3653679000	3653679000	0.00
total current assets	8777324000	8777324000	0.00
total non current assets	9371814000	9371814000	0.00
total current liabilities	2048697000	2048697000	0.00
total non current liabilities	128445000	128445000	0.00
common stock	83564000	83564000	0.00
retained earnings	14336390000	14336390000	0.00
total debt	1141786000	1106525000	3.19

Overall Score of Quarterly Balance Sheet

0.0 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Total Debt: Total Debt increased to 1,142 million in 2024Q2 from 1,107 million in 2024Q1 representing a change of 3.19%. This indicates an increase in overall debt burden.

Cashflow Statements ⓘ

• Annual Cashflow Statement

Note: The years below are fiscal years in accounting.

	2023	2022	Y/Y change %
0000000000
net change in cash	-65318000	990637000	-106.59
operating cash flow	2502853000	3553243000	-29.56
free cash flow	2184893000	3028322000	-27.85
capital expenditure	-317960000	-524921000	39.43
depreciation and amortization	229565000	227226000	1.03
deferred income tax	0	-489195000	100.00
stock based compensation	-35872000	18716000	-291.66
accounts payables	-410558000	0	NaN
inventory	-235767000	8156000	-2990.72
acquisitions net	-123619000	-298827000	58.63
investments in property plant and equipment	-27490000	-524921000	94.76
net cash used for investing activites	-442276000	-1178202000	62.46
debt repayment	-528262000	-69830000	-656.50
common stock issued	0	0	NaN
common stock repurchased	0	-48382000	100.00
dividends paid	-1360363000	-1276239000	-6.59
net cash used provided by financing activities	-2125024000	-1399914000	-51.80
cash at end of period	4311058000	4376376000	-1.49
accounts receivables	410558000	185507061	121.32
cash at beginning of period	4376376000	3385739000	29.26

Overall Score of Annual Cashflow Statement

0.11 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Net Change in Cash: Net Change in Cash decreased to -65 million in 2023 from 991 million in 2022 representing a change of -106.59%. Indicating a declined ability to generate cash from the company's operations or its cash flow position.

  Operating Cash Flow: Operating Cash Flow decreased to 2,503 million in 2023 from 3,553 million in 2022 representing a change of -29.56%. This indicates that the company generated less cash from its core business operations.

  Free Cash Flow: Free Cash Flow decreased to 2,185 million in 2023 from 3,028 million in 2022 representing a change of -27.85%. This indicates a decrease in cash generated after accounting for capital expenditures.

  Capital Expenditure: Capital Expenditure increased to -318 million in 2023 from -525 million in 2022 representing a change of 39.43%. This indicates an increase in the cash outflow required for acquiring or improving long-term assets.

  Deferred Income Tax: Deferred Income Tax increased to 0 million in 2023 from -489 million in 2022 representing a change of 100.0%. This indicates that the company's tax liability for future periods has increased.

  Accounts Payables: The absolute value of Accounts Payables increased to 411 million in 2023 from 0 million in 2022 representing a change of nan%. This indicates that the company has increased its outstanding obligations to its suppliers.

  Accounts Receivables: Accounts Receivables increased to 411 in 2023 from 186 million in 2022 representing a change of 121.32%. This suggests that the company is less capable of collecting payments from its customers.

  Dividends Paid: Dividends Paid decreased to -1,360 million in 2023 from -1,276 million in 2022 representing a change of -6.59%. This indicates a weaker financial position, less confidence in future prospects, and a reluctance to return value to shareholders.

• 📈 Positive Indicators

  Stock-Based Compensation: Stock-Based Compensation decreased to -36 million in 2023 from 19 million in 2022 representing a change of -291.66%. This indicates decreased expenses, which is generally considered a positive sign from a financial perspective.

• Quarterly Cashflow Statement

Note: The years below are fiscal years in accounting.

	2024Q2	2023Q4	Q/Q change %
0000000000
operating cash flow	872866000	1012087000	-13.76
free cash flow	868537000	994118000	-12.63
capital expenditure	-4329000	-17969000	75.91
depreciation and amortization	114063000	149470000	-23.69
deferred income tax	0	0	NaN
stock based compensation	0	-35872000	100.00
accounts receivables	0	410558000	-100.00
accounts payables	0	0	NaN
inventory	0	-235767000	100.00
acquisitions net	0	116300000	-100.00
investments in property plant and equipment	-4329000	-17969000	75.91
net cash used for investing activites	-633719000	-206193000	-207.34
debt repayment	0	0	NaN
common stock issued	0	0	NaN
common stock repurchased	-238394000	0	NaN
dividends paid	-191991000	-768453000	75.02
net cash used provided by financing activities	-633922000	-919607000	31.07
net change in cash	-198343000	-70154500	-182.72
cash at end of period	-198343000	-70154500	-182.72
cash at beginning of period	0	0	NaN

Overall Score of Quarterly Cashflow Statement

0.29 out of 1

Detailed Analysis

• 📉 Negative Indicators

  Net Change in Cash: Net Change in Cash decreased to -198 million in 2024Q2 from -70 million in 2023Q4 representing a change of -182.72%. Indicating a declined ability to generate cash from the company's operations or its cash flow position.

  Operating Cash Flow: Operating Cash Flow decreased to 873 million in 2024Q2 from 1,012 million in 2023Q4 representing a change of -13.76%. This indicates that the company generated less cash from its core business operations.

  Free Cash Flow: Free Cash Flow decreased to 869 million in 2024Q2 from 994 million in 2023Q4 representing a change of -12.63%. This indicates a decrease in cash generated after accounting for capital expenditures.

  Capital Expenditure: Capital Expenditure increased to -4 million in 2024Q2 from -18 million in 2023Q4 representing a change of 75.91%. This indicates an increase in the cash outflow required for acquiring or improving long-term assets.

  Stock-Based Compensation: Stock-Based Compensation increased to 0 million in 2024Q2 from -36 million in 2023Q4 representing a change of 100.0%. This indicates increased expenses, which is generally considered a negative sign from a financial perspective.

• 📈 Positive Indicators

  Accounts Receivables: Accounts Receivables decreased to 0 million in 2024Q2 from 411 million in 2023Q4 representing a change of -100.0%. This suggests that the company has been able to collect payments from its customers more efficiently and timely.

  Dividends Paid: Dividends Paid increased to -192 million in 2024Q2 from -768 million in 2023Q4 representing a change of 75.02%. This indicates a stronger financial position, more confidence in future prospects, and a better commitment to returning value to shareholders.

Earnings Transcripts ⓘ

No earnings transcripts available.

Earnings Per Share (EPS) ⓘ

Analyst Stock Recommendations ⓘ

Discover detailed analyst recommendations for stocks, including categories such as Buy, Hold, Sell, Strong Buy, and Strong Sell. These insights are based on thorough analysis of financial and market factors. The consensus is calculated by assigning a numerical score to each recommendation. These scores are then weighted and averaged over a specified period to provide a comprehensive view of the stock's outlook, with the final score determining the overall consensus.

Financial Ratios ⓘ

• Annual Financial Ratios

	2023-12-31	2022-12-31	Y/Y change %
FY
calendar year	2023	2022	NaN
revenue per share	3.27	3.73	-12.36
net income per share	0.98	1.33	-26.27
operating cash flow per share	1.02	1.45	-29.51
free cash flow per share	0.89	1.23	-27.79
cash per share	2.51	2.39	4.78
book value per share	6.34	6.01	5.64
tangible book value per share	4.81	3.96	21.43
shareholders equity per share	6.33	5.95	6.47
interest debt per share	0.55	0.76	-27.54
market cap	30304650054.01	26608662794.49	13.89
enterprise value	27295329054.01	24044918794.49	13.52
pe ratio	12.62	8.16	54.59
price to sales ratio	3.78	2.91	30.05
pocfratio	12.11	7.49	61.69
pfcf ratio	13.87	8.79	57.85
pb ratio	1.95	1.82	7.06
ptb ratio	1.95	1.82	7.06
ev to sales	3.41	2.63	29.63
enterprise value over ebitda	9.34	6.25	49.55
ev to operating cash flow	10.91	6.77	61.16
ev to free cash flow	12.49	7.94	57.34
earnings yield	0.08	0.12	-35.31
free cash flow yield	0.07	0.11	-36.65
debt to equity	0.08	0.12	-32.49
debt to assets	0.07	0.1	-28.09
net debt to ebitda	-1.03	-0.67	-54.64
current ratio	4.29	3.07	39.87
interest coverage	58.65	81.91	-28.39
income quality	0.87	0.94	-7.77
dividend yield	0.04	0.05	-6.41
payout ratio	0.57	0.39	44.69
sales general and administrative to revenue	0.08	0.07	17.78
research and ddevelopement to revenue	0.02	0.01	77.65
intangibles to total assets	0.21	0.28	-24.89
capex to operating cash flow	0.13	0.15	-14.01
capex to revenue	0.04	0.06	-30.83
capex to depreciation	1.39	2.31	-40.04
stock based compensation to revenue	-0.0	0.0	-318.86
graham number	11.81	13.33	-11.40
roic	0.13	0.21	-36.80
return on tangible assets	0.17	0.26	-32.82
graham net net	2.28	1.88	21.09
working capital	6745649000	5952273000	13.33
tangible asset value	11792412000	9719246000	21.33
net current asset value	6620005000	5812914000	13.88
invested capital	10983384000	11465563000	-4.21
average receivables	1887775500	2104430500	-10.30
average payables	159836500	161953500	-1.31
average inventory	557421000	474902000	17.38
days sales outstanding	79.07	81.36	-2.82
days payables outstanding	27.16	30.73	-11.62
days of inventory on hand	122.23	82.37	48.38
receivables turnover	4.62	4.49	2.90
payables turnover	13.44	11.88	13.15
inventory turnover	2.99	4.43	-32.61
roe	0.15	0.22	-30.75
capex per share	0.13	0.21	-39.38

• Neutral

  ROE: Return on Equity (ROE) decreased to 0.15 on 2023-12-31 from 0.22 on 2022-12-31, representing a change of -30.75%. However, ROE is >= 15%, suggesting that the company has been generating high returns for its shareholders still.

• Positive

  PE Ratio: Price-to-Earnings (P/E) Ratio increased to 12.62 on 2023-12-31 from 8.16 on 2022-12-31, representing a change of 54.59%. Indicating an increase in the relative valuation of the company's stock.

  Debt-to-Equity Ratio: Debt-to-Equity Ratio decreased to 0.08 on 2023-12-31 from 0.12 on 2022-12-31, representing a change of -32.49%. The debt-to-equity ratio has been decreasing, indicating that the company has been relying less on debt financing. A ratio of 1 or below is often considered healthy and indicates that the company's total debt is equal to or less than its total equity.

• Negative

  Current Ratio: Current Ratio increased to 4.29 on 2023-12-31 from 3.07 on 2022-12-31, representing a change of 39.87%. The current ratio has been increasing, suggesting an increase in the company's short-term liquidity. Since it's above 3, indicating poor management of working capital.

• Quarterly Financial Ratios

	2024-06-30 Q2	2024-03-31 Q1	Q/Q change %
0867.HK
calendar year	2024	2024	NaN
revenue per share	1.48	0	NaN
net income per share	0.37	0	NaN
operating cash flow per share	0.36	0	NaN
free cash flow per share	0.36	0	NaN
cash per share	2.48	0	NaN
book value per share	6.55	0	NaN
tangible book value per share	4.98	0	NaN
shareholders equity per share	6.53	0	NaN
interest debt per share	0.47	0	NaN
market cap	15015210132.41	0	NaN
enterprise value	12242624132.41	-2807847000	536.01
pe ratio	4.12	0	NaN
price to sales ratio	4.16	0	NaN
pocfratio	17.2	0	NaN
pfcf ratio	17.29	0	NaN
pb ratio	0.94	0	NaN
ptb ratio	0.94	0	NaN
ev to sales	3.39	0	NaN
enterprise value over ebitda	12.98	0	NaN
ev to operating cash flow	14.03	0	NaN
ev to free cash flow	14.1	0	NaN
earnings yield	0.06	None	NaN
free cash flow yield	0.06	0	NaN
debt to equity	0.07	0.07	3.19
debt to assets	0.06	0.06	3.19
net debt to ebitda	-2.94	0	NaN
current ratio	4.28	4.28	0.00
interest coverage	0	0	NaN
income quality	0.96	0	NaN
dividend yield	0.01	None	NaN
payout ratio	0.21	0	NaN
sales general and administrative to revenue	0.1	0	NaN
research and ddevelopement to revenue	0.03	0	NaN
intangibles to total assets	0.21	0.21	0.00
capex to operating cash flow	0.0	0	NaN
capex to revenue	0.0	0	NaN
capex to depreciation	0.04	0	NaN
stock based compensation to revenue	0	0	NaN
graham number	7.41	0	NaN
roic	0.04	None	NaN
return on tangible assets	0.06	None	NaN
graham net net	2.25	0	NaN
working capital	6728627000	6728627000	0.00
tangible asset value	12148371000	12148371000	0.00
net current asset value	6600182000	6600182000	0.00
invested capital	11009177000	11009177000	0.00
average receivables	1747486000	1741675500	0.33
average payables	182507000	162085500	12.60
average inventory	638495000	638065500	0.07
days sales outstanding	43.55	0	NaN
days payables outstanding	17.96	0	NaN
days of inventory on hand	62.83	0	NaN
receivables turnover	2.07	None	NaN
payables turnover	5.01	None	NaN
inventory turnover	1.43	None	NaN
roe	0.06	None	NaN
capex per share	0.0	0	NaN

• Negative

  Current Ratio: Current Ratio decreased to 4.28 on 2024-06-30 Q2 from 4.28 on 2024-03-31 Q1, representing a change of 0.00%. The current ratio has been declining, suggesting a decrease in the company's short-term liquidity. Since it's above 3, indicating poor management of working capital.

• Positive

  Debt-to-Equity Ratio: Debt-to-Equity Ratio decreased to 0.07 on 2024-06-30 Q2 from 0.07 on 2024-03-31 Q1, representing a change of 3.19%. The debt-to-equity ratio has been decreasing, indicating that the company has been relying less on debt financing. A ratio of 1 or below is often considered healthy and indicates that the company's total debt is equal to or less than its total equity.

Growth Rates ⓘ

• Annual Growth

• Quarterly Growth

Intrinsic Value (Discounted Cash Flow) ⓘ

None