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Co-Prosperity Holdings Limited (协盛协丰控股有限公司)

Main Activities: Chemical Manufacturing

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Company Information

Full name
Co-Prosperity Holdings Limited (协盛协丰控股有限公司)

Headquarters
6th Floor, Comweb Plaza,12 Cheung Yue Street, Lai Chi Kok, Kowloon, Hong Kong; Hong Kong; Hong Kong
Status: Listed
Legal Form: Public Limited Company
Operational Status: Operational
Financial Auditors: Deloitte Touche Tohmatsu (2013)
Incorporation Date: January 26, 2005
Total Employees: 1,600

Tel: (852) 2743-5999

Company Description

Principally engaged in the sale of finished fabrics (“fabrics sales business'), the provision of fabrics processing subcontracting services (“processing business”), the trading of goods (“trading business”) and the manufacture and sale of high density and high-end yarns (“yarn business”) to customers.

Company Analysis

According to the Consolidated - Audited financial statement for the first half of 2012, total net operating revenues decreased with -17.52%, from CNY 297,763,000 to CNY 245,587,000 . The results of the period reached CNY -27,808,000 at the end of the period against CNY 17,297,000 last year. Return on equity (Net income/Total equity) went from 3.72% to -8.76%, the Return On Asset (Net income / Total Asset) went from 1.80% to -2.90% and the Net Profit Margin (Net Income/Net Sales) went from 5.81% to -11.32% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 201.73% compared to 106.37% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 1.27 to 1.10 when compared to the previous year.

Key Executives

Sze Siu Hung Chairman and Executive Director
Sze Siu Hung Chairman and Executive Director
Sze Chin Pang Executive Director
Cai Peilei Executive Director
Lui Siu Keung Independent Non-Exec Director
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Balance Sheet

Total Assets

1,008,801,000

958,030,000

Current Assets

705,719,000

690,955,000

Total Liabilities

732,833,000

640,519,000

Shareholders Equity

275,968,000

317,511,000

Current Liabilities

641,546,000

626,664,000

* All the accounts are in CNY.
Income Statement

Total Operating Revenue

515,786,000

245,587,000

Operational Profit (Loss)

-34,748,000

Net Profit (Loss)

-69,354,000

-27,808,000

* All the accounts are in CNY.
Ratios
Profitability Ratios

Return on Assets (ROA)

-6.87%

-2.9%

Annualised Return on Assets (ROA)

-6.87%

-5.8%

Return on Equity (ROE)

-25.13%

-8.76%

Annualised Return on Equity (ROE)

-25.13%

-17.52%

Return on Sales (ROS)

-13.45%

-11.32%

Return on Capital

-18.88%

-8.39%

Gross Profit Margin

7.47%

8.98%

Operating Profit Margin

-0.7%

-1.71%

Efficiency Ratios

Accounts Receivable Turnover

17.51x

10.72x

Inventory Turnover

1.25x

0.61x

Current asset turnover

0.73x

0.36x

Fixed-asset turnover

2.91x

1.16x

Asset Turnover

0.51x

0.26x

Valuation figures and ratios

Earning Before Interests and Taxes (EBIT)

-33,816,000

-11,981,000

EBITDA

-11,890,000

Enterprise value

505,244,874

465,787,665

Enterprise Value / EBITDA

-30.51

Bookvalue (BV)

275,968,000

317,511,000

Liquidity Ratios

Current Ratio

110%

110.26%

Quick ratio

45.6%

46.5%

Doom's day ratio

11.65%

26.16%

Leverage Ratios

Leverage ratio

365.55%

301.73%

Debt to equity

158.54%

150.47%

Debt to total assets

43.37%

49.87%

Debt / Enterprise Value

81.25%

95.31%

Market ratios

Price/Book Ratio

0.64

0

Trend Ratios

Revenue Trend

83.18%

82.48%

Net Income Trend

65.72%

-160.77%

Operating Income Trend

65.8%

-132.03%