Keeson Technology Corp Ltd

SHSE:603610

China / Consumer Discretionary / Household Durables

Overview

Dividends

5Y Historical Financials

Stock Price

11.82 CNY


Key Metrics	Latest
Total Revenue	2.939 B
Adjusted EBITDA	341.3 M
EBITDA Margin	11.6%
Net Profit Margin	7.4%
Total Assets	4.661 B
Total Debt	881.6 M

5Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	12 Months	Sep-23	Sep-24

Revenue	2,529.26	2,259.91	2,966.83	2,663.34	3,102.80	2,938.89	2,385.94	2,222.03
% Growth		(0.11)	0.31	(0.10)	0.17			(0.07)

Adjusted EBITDA	479.00	380.80	458.76	117.30	342.25	341.28	264.03	263.07
% Margin	0.19	0.17	0.15	0.04	0.11	0.12	0.11	0.12

Adjusted EBIT	439.24	341.31	394.34	43.31	261.46	255.40	208.54	202.48
% Margin	0.17	0.15	0.13	0.02	0.08	0.09	0.09	0.09

Adjusted Net Income	398.94	271.83	332.16	118.47	248.44	216.37	219.99	187.93
% Margin	0.16	0.12	0.11	0.04	0.08	0.07	0.09	0.08

Adjusted Basic EPS	1.40	0.76	0.93	0.33	0.70	0.61	0.62	0.53

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
						Original
CNY	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Sep-24	Sep-23	Sep-24
	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM	YTD-1	YTD

Revenue	2,529	2,260	2,967	2,663	3,103	2,939	2,386	2,222
% Growth	NA	-10.6%	31.3%	-10.2%	16.5%			-6.9%

Cost of Revenue	(1,540)	(1,406)	(1,919)	(1,835)	(1,973)	(1,901)	(1,549)	(1,476)
Gross Profit	990	854	1,048	828	1,129	1,038	837	746
% Revenue	39.1%	37.8%	35.3%	31.1%	36.4%	35.3%	35.1%	33.6%

Research and Development	(111)	(118)	(141)	(160)	(148)	(146)	(115)	(113)
Selling and Marketing	(240)	(217)	(270)	(394)	(401)	(334)	(284)	(218)
General and Admin	(190)	(190)	(229)	(217)	(310)	(302)	(233)	(225)
Other Inc / (Exp)	5	(64)	(18)	(20)	(44)	(55)	1	(10)
Total Operating Exp	(536)	(590)	(659)	(791)	(902)	(838)	(631)	(566)

Operating Income	453	264	389	37	227	201	206	180
% Revenue	17.9%	11.7%	13.1%	1.4%	7.3%	6.8%	8.6%	8.1%

Interest Expense	10	52	18	1	5	(1)	8	2
Pre-tax Income	463	316	407	39	232	200	214	181
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0
Provision for Taxes	(69)	(45)	(52)	(13)	(28)	(31)	(29)	(31)
Net Income to Company	394	271	354	26	204	169	185	150
% Margin	15.6%	12.0%	11.9%	1.0%	6.6%	5.8%	7.8%	6.8%

Minority Interest in Earnings	1	3	3	2	2	1	1	1
Net Income to Stockholders	395	273	357	28	206	170	187	151

Preferred Dividends	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	0	0	0

Net Income to Common	395	273	357	28	206	170	187	151
% Margin	15.6%	12.1%	12.0%	1.1%	6.6%	5.8%	7.8%	6.8%

As Reported
Basic EPS (Continuing Ops)	1.39	0.77	1.00	0.08	0.58	0.48	0.53	0.43
Diluted EPS (Continuing Ops)	1.39	0.77	1.00	0.08	0.58	0.48	0.53	0.43

WA Basic Shares Out.	284.31	357.15	357.12	354.52	354.60	353.96	352.11	351.47
WA Diluted Shares Out.	284.31	357.15	357.12	354.52	354.60	353.96	352.11	351.47

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	463	316	407	39	232	200	214	181
Addback: Net Interest Expense	(10)	(52)	(18)	(1)	(5)	1	(8)	(2)
Addback: Other Non Operating Expenses, Total	(21)	76	35	(119)	(26)	(9)	(45)	(28)
Addback: Depreciation & Amortization	40	39	64	74	81	86	55	61
Addback: Restructuring Charges	0	0	0	0	0	0	0	0
Addback: Merger / Acquisition Expenses	0	0	0	0	0	0	0	0
Addback: Goodwill Impairment	0	0	3	0	0	0	0	0
Addback: Gain (Loss) On Sale Of Invest.	17	(0)	(15)	147	80	92	42	54
Addback: Gain (Loss) On Sale Of Assets	1	1	1	(2)	1	(7)	1	(7)
Addback: Asset Writedown	8	0	0	0	1	3	4	6
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	(19)	0	(19)	(20)	(21)	(24)	0	(2)
Adjusted EBITDA	479	381	459	117	342	341	264	263
% Margin	18.9%	16.9%	15.5%	4.4%	11.0%	11.6%	11.1%	11.8%

Adjusted EBIT	439	341	394	43	261	255	209	202
% Margin	17.4%	15.1%	13.3%	1.6%	8.4%	8.7%	8.7%	9.1%

Adjusted Net Income Reconciliation
Net Income to Company	394	271	354	26	204	169	185	150
Addback: Unusual Items	7	2	(30)	125	60	64	47	51
Less: Tax Benefit of Unusual Items (26%)	(2)	(0)	8	(33)	(16)	(17)	(12)	(13)
Adjusted Net Income	399	272	332	118	248	216	220	188
% Margin	15.8%	12.0%	11.2%	4.4%	8.0%	7.4%	9.2%	8.5%

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Keeson Technology Corp Ltd

SHSE:603610

China / Consumer Discretionary / Household Durables

5Y Historical Financials