江苏国富氢能技术装备股份有限公司Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd.02582.HK
2024年9月30日录得净流动负债6,270万元
We recorded net current assets of RMB7.9 million as of May 31, 2024 and net current liabilities of RMB62.7 million as of September 30, 2024, primarily due to a decrease in our current assets and an increase in our current liabilities.
Financial Information · 第 458 页
our Directors are of the view that, after due and careful inquiry, we have sufficient available working capital for our present requirements for at least the next 12 months from the date of this prospectus.
We relied on short-term bank borrowings to finance our working capital needs.
Financial Information · 第 426 页
We recorded net current liabilities of RMB1,255.5 million as of December 31, 2023 as compared with net current assets of RMB2,168.6 million as of December 31, 2022, primarily due to (i) a decrease in inventories of RMB1,397.0 million attributable to impairment losses on inventories in view of the sharp decline of lithium carbonate prices in 2023, (ii) a decrease in trade and other receivables of RMB800.1 million as a result of the decreased sales in 2023 and (iii) an increase in bank and other borrowings of RMB2,366.6 million, partially offset by (iv) an increase in cash and cash equivalent of RMB1,429.2 million.
Financial Information · 第 427 页
Our net current liabilities decreased by 54.2% from RMB1,255.5 million as of December 31, 2023 to RMB574.7 million as of June 30, 2024, primarily due to (i) a decrease in trade and other payables of RMB471.1 million, mainly attributable to the settlement of part of our bills payable and (ii) a decrease in bank and other borrowings of RMB334.7 million as we repaid some of our short-term bank loans.
As of December 31, 2021 and 2022, the convertible redeemable preferred shares were classified as current liabilities, because the holders of the Preferred Shares can demand our Company to redeem their preferred shares or convert the convertible redeemable preferred shares to ordinary shares within 12 months.
Financial Information · 第 384 页
Our convertible redeemable preferred shares will be re-designated from liabilities to equity as a result of the automatic conversion into ordinary shares upon the Listing, after which we will return to a net assets position from a net liabilities position.
We recorded net current liabilities of RMB1.9 million and RMB14.6 million as of December 31, 2022 and 2023, respectively, which was primarily attributable to the trade and other payables incurred to support our increased business scale.
Financial Information · 第 398 页
While we recorded net liabilities throughout the Track Record Period, this was primarily due to the convertible redeemable preferred shares that we recorded as of the end of each year during the Track Record Period.
Summary · 第 17 页
Our Directors believe that we have sufficient working capital to meet our present and future cash requirements for at least the next 12 months from the date of publication of this prospectus, taking into account our anticipated improvement in operating cash flows, management of working capital, efforts to obtain more favorable credit terms from suppliers and net proceeds from the Global Offering.
We recorded net current liabilities of RMB1,553.5 million as of December 31, 2023, primarily due to (i) an increase of RMB913.3 million in convertible redeemable preferred shares, and (ii) an increase of RMB162.1 million in other financial liabilities issued to investors, partially offset by (i) an increase of RMB59.2 million in cash and cash equivalents, and (ii) a decrease of RMB271.4 million in accruals and other payables.
Business · 第 385 页
All the convertible redeemable preferred shares will be re-classified from financial liabilities to equity as a result of the automatic conversion into our Shares upon the Listing such that the net liability position would turn into a net asset position.
Business · 第 385 页
Taking into account the financial resources available to us, including cash and liquidity assets and the estimated net proceeds from the Global Offering, our Directors are of the view, and the Joint Sponsors concur, that we possess sufficient working capital for our present requirements, that is for at least 12 months from the date of this prospectus.
Our net current liabilities of US$31.5 million as of December 31, 2021 was primarily due to customer deposits and borrowings.
Financial Information · 第 416 页
Although we receive a relatively small amount of deposits as a percentage of sale price upfront and there is a relatively long delivery lead time for our aircraft, we have not experienced any issues with working capital sufficiency.
Business · 第 244 页
Taking into account the financial resources available to us, including the estimated net proceeds from the Global Offering, cash flow generated from our operations, and cash and cash equivalents on hand, our Directors are of the opinion that we will have sufficient funds to meet our working capital requirements and financial requirements for capital expenditure for at least the next 12 months from the date of this Prospectus.
Our net current liabilities positions as of April 30, 2024, were primarily attributable to financial liabilities at FVTPL in relation to our shares with preferential rights, partially offset by financial assets at FVTPL and cash and cash equivalents.
Financial Information · 第 394 页
Despite that we recorded net cash outflow in operating activities during the Track Record Period, taking into account the financial resources available to us, including cash and cash equivalents, bank deposits, current portion of wealth management products and the credit line facility available to us, our Directors are of the view that we have sufficient working capital to meet our present requirements and for the next 12 months from the date of this prospectus.
We recorded net current liabilities of RMB353.8 million, RMB590.1 million and RMB659.5 million as at December 31, 2022 and 2023 and April 30, 2024, respectively.
Financial Information · 第 298 页
Overall, our continuous profitable operations provide the foundation to our Group's financial soundness and liquidity.
Financial Information · 第 299 页
In addition, we closely monitor our cash flow and plan to make continuous efforts to improve our financial positions, including (i) adopt various strategies and measures including enhance our production capacity and market share to continuously maintain and improve our revenue growth and profitability; (ii) maintain our sound relationships with banks and other financial institutions to obtain financial facilities to support our business operations as required.
We had net current liabilities of RMB8,299.3 million as of April 30, 2024 primarily because our CRPS which were classified as non-current liabilities during the Track Record Period were reclassified as our current liabilities.
Financial Information · 第 578 页
All the CRPS which were accounted for as liabilities will be converted into Ordinary Shares and accounted as an increase in equity upon the Listing such that our net liabilities position will turn into net assets position.
Summary · 第 31 页
Our Directors are of the opinion that, taking into account the estimated net proceeds from the Global Offering and other financial resources available to us, including cash flow from operating activities, cash and cash equivalents, term deposits, restricted cash, the current portion of financial assets at FVTPL, and bank borrowings, we have sufficient working capital to cover 125% of our costs, including R&D expenses, selling and marketing expenses, general and administrative expenses and other operating costs, for the next 12 months from the date of this prospectus.
We recorded net current liabilities of approximately HK$11.7 million as at 31 December 2021 and net current assets of approximately HK$6.7 million and HK$9.8 million as at 31 December 2022 and 31 December 2023, respectively.
Financial Information · 第 371 页
Our net current liabilities position as at 31 December 2021 was partly because we have used short-term bank loans and other borrowings to finance our capital expenditure and in particular, HK$12.6 million of bank borrowings would be practically repaid over one year after 31 December 2021, based on the repayment schedule and has been classified as current liabilities as they had a repayment on demand clause.
Financial Information · 第 372 页
Our Directors are of the opinion that, and the Sponsor concurs that, taking into consideration our Group’s financial resources presently available to us, including (i) anticipated cash flow from our operating activities; (ii) existing bank balances and cash of approximately HK$1.1 million as at 31 December 2023; (iii) the unutilised banking facilities of approximately HK$18.4 million as at 31 December 2023; (iv) the conditional interim dividend of HK$19.3 million declared on 31 March 2022 and 15 March 2024 respectively which is expected to be distributed after Listing; and (v) the estimated net proceeds from the Share Offer, our Group has sufficient working capital for its present requirements, for at least the next 12 months from the date of this prospectus.
Our Group recorded net current liabilities of RMB49.3 million as of December 31, 2021, which was primarily attributable to the balances of amounts due to the immediate holding company and a shareholder, in aggregate, RMB95.0 million in relation to initial investment in and acquisition of Shenzhen EDA Group by Lesso; among which, RMB70.0 million of our amount due to immediate holding company has been capitalized as deemed capital contribution by way of discharge the liability due to the immediate holding company in FY2022; resulting in net current asset position as of December 31, 2022.
Financial Information · 第 373 页
we had unutilized banking facilities of RMB84.0 million as of March 31, 2024, which can be utilized for working capital requirements;
Financial Information · 第 374 页
Taking into account our cash generating capabilities, financial resources available to us as well as the net proceeds from the Global Offering, our Directors are of the opinion and the Sole Sponsor concurs that we have sufficient working capital required for our operation at present and for at least next 12 months from the date of this prospectus.
We recorded net current assets as of December 31, 2021 and 2022 and net current liabilities as of December 31, 2023.
Financial Information · 第 449 页
Such convertible redeemable preferred shares were recategorized as current liabilities in 2023, amounting to RMB1,223.8 million, as the redemption rights were set to mature in less than twelve months as of December 31, 2023.
Financial Information · 第 434 页
Our Directors are of the opinion that, taking into account the net proceeds from the Global Offering and the financial resources available to us, including the available banking facilities and cash and cash equivalents, we have sufficient working capital for our present requirements, that is at least 12 months from the date of this prospectus.
We recorded net current liabilities of RMB3,141.7 million, RMB3,316.8 million and RMB4,121.2 million as of December 31, 2021, 2022 and 2023, respectively, primarily attributed to contingently redeemable preferred shares and ordinary shares.
Financial Information · 第 461 页
Our redeemable preferred shares and ordinary shares issued will be re-designated from liabilities to equity as a result of the automatic conversion into ordinary shares and our position of net liabilities would turn into net assets upon the Listing.
Financial Information · 第 461 页
Taking into account the financial resources available to us, including our operating cash flows, cash and cash equivalents on hand, and the estimated net proceeds from the Global Offering, our directors are of the view that we have sufficient working capital to meet our present requirements and for the next 12 months from the date of this prospectus.
We recorded net current liabilities of RMB2,605.1 million and RMB3,433.9 million as of December 31, 2020 and 2021, respectively, primarily attributable to our redeemable capital contribution.
Summary · 第 13 页
Consequently, as of December 31, 2022, we recorded nil redeemable capital contribution, and we had significantly reduced our net current liabilities to RMB149.6 million and returned to a total equity position.
Summary · 第 13 页
Taking into consideration of financial resources presently available to us, our Directors are of the view, and the Joint Sponsors concur, that our working capital, which includes available cash and cash equivalents, anticipated cash flow from operations, bank loans and other borrowings, and net proceeds from the Global Offering, will be sufficient to meet our present requirements for the next 12 months from the date of this prospectus.
Moreover, we expect to return to or become consolidated net asset position upon the Listing.
Business · 第 220 页
For relevant risks, see “Risk Factors — Risks Related to Our Business and Industry — We recorded net current liabilities and net liabilities.”
Business · 第 220 页
Our Directors are of the view, and the Joint Sponsors concur, that taking into account our available resources including cash and cash equivalents on hand and the net estimated proceeds from the Global Offering, we have sufficient working capital for our present requirements and for the next 12 months from the date of this document.
We recorded net current liabilities of RMB123.2 million, RMB63.6 million, RMB92.6 million and RMB78.8 million as at 31 December 2020 and 2021, 30 June 2023 and 31 October 2023, respectively, and net current assets of RMB92.6 million as at 31 December 2022.
Financial Information · 第 369 页
Our net current assets of RMB92.6 million as at 31 December 2022 then turned around to a net current liabilities of RMB92.6 million as at 30 June 2023, primarily due to the (i) increase in trade and other payables of RMB98.6 million; and (ii) increase in current portion of bank borrowings of RMB59.0 million, partially offset by the increase in bills receivables at FVTOCI of RMB34.1 million as at 30 June 2023.
Financial Information · 第 370 页
Our Directors confirm that, taking into consideration the financial resources presently available to us, including our positive operating cash flow, available unutilised banking facilities, other internal resources, and the estimated net proceeds from the Global Offering, we have sufficient working capital for our present requirements and for at least the next 12 months commencing from the date of this prospectus.
Despite the net losses, cash outflow from operating activities, net current liabilities we recorded during the Track Record Period, our Directors believe that our business is sustainable and we will be able to generate sufficient working capital to operate our business in a sustainable manner based on (i) the expected increase of sales revenue to be generated from our confirmed orders and project pipelines in development; (ii) our price adjustment mechanism with customers in response to fluctuations in raw material prices and therefore expected improvement in gross margin; (iii) strengthened cost control; and (iv) the strong liquidity and capital resources we maintained during the Track Record Period.
Business · 第 298 页
In particular, as of October 31, 2023, we had unutilized banking facilities of RMB13,420.5 million. We also recorded net current assets of RMB3,056.8 million as of June 30, 2023.
Business · 第 298 页
Taking into account the net proceeds from the Global Offering and banking facilities available to us, our Directors believe that we have sufficient working capital to meet our present and future cash requirements for at least the next 12 months from the date of publication of this prospectus.
We recorded net current liabilities of RMB2,683.8 million as at 31 May 2023, primarily due to the decrease in the valuation of our biological assets, which was caused by low pig and poultry prices as at 31 May 2023.
Summary · 第 26 页
We had net current assets of RMB1,828.8 million, net current liabilities of RMB258.2 million, net current assets of RMB130.2 million, net current liabilities of RMB2,683.8 million and net current liabilities of RMB1,719.7 million as at 31 December 2020, 2021, and 2022, 31 May 2023 and 30 September 2023, respectively.
Financial Information · 第 382 页
However, we believe we can mitigate the negative impact of having recorded net current liabilities on our business by implementing measures such as focusing on adjusting our financing structure by replacing short-term borrowings with long-term borrowings to the extent possible and utilising other financial resources available to us, including the net proceeds from the Global Offering, our current cash and cash equivalents and our net cash flows from operating activities, to lower our current liabilities by reducing current borrowings from banks and other financial institutions repayable within one year.
山西省安装集团股份有限公司Shanxi Installation Group Co., Ltd.02520.HK
2023年6月末起转为净流动负债
As of December 31, 2020, 2021, 2022, June 30, 2023 and September 30, 2023, we had net current assets of RMB256.8 million, RMB266.4 million, RMB69.6 million, net current liabilities of RMB357.2 million and RMB605.3 million, respectively.
Financial Information · 第 528 页
Our net current assets decreased from RMB69.6 million as of December 31, 2022 to a net current liabilities of RMB357.2 million as of June 30, 2023, which was mainly due to the increase in our short-term borrowings by RMB782.7 million from RMB2,201.3 million as of December 31, 2022 to RMB2,984.0 million and an increase in our trade payables and bills payable by RMB370.4 million from RMB9,170.6 million as of December 31, 2022 to RMB9,541.0 million.
Financial Information · 第 529 页
Taking into account the estimated net proceeds from the Global Offering (after a possible Downward Offer Price Adjustment setting the final Offer Price up to 10% below the bottom end of the indicative Offer Price range), our available banking facilities and cash flows from our operations, our Directors are of the opinion that we have sufficient working capital to meet our financial requirements for at least the next 12 months from the date of this prospectus.
绿源集团控股(开曼)有限公司Luyuan Group Holding (Cayman) Limited02451.HK
2020至2022年末录得净流动负债
We recorded net current liabilities of RMB81.4 million, RMB234.2 million and RMB17.2 million as of December 31, 2020, 2021 and 2022, mainly due to the bank loans for the expansion of our production capabilities, including the construction of our Guangxi Plant and our new factory in Zhejiang Plant.
Financial Information · 第 372 页
To improve our net current liabilities position and ensure working capital sufficiency, we have negotiated with banks to obtain medium or long-term loans to replace our short-term loans, which primarily resulted in our net current liabilities during the Track Record Period.
Financial Information · 第 372 页
Taking into account the estimated net proceeds from the Global Offering and the financial resources presently available to us, including our cash and cash equivalents, cash flows from operating activities and our available bank loans and banking facilities, our Directors are of the opinion, and the Sole Sponsor concurs, that we have sufficient funds to meet our working capital requirements for at least the next 12 months from the date of this prospectus.