Jiangsu New Vision Automotive Electronics Co Ltd

The company exhibits a severely distressed capital structure, characterized by negative total equity of -1.58 billion CNY against total liabilities of 2.38 billion CNY. Long-term debt stands at 2.12 billion CNY, significantly outweighing cash and equivalents of 126.6 million CNY. The current ratio is critically low at 0.26, indicating substantial short-term liquidity pressure. With a market capitalization of 8.76 billion CNY, the enterprise value is heavily leveraged, and the negative debt-to-equity ratio of -1.34 reflects the insolvency position on the balance sheet.

Profitability metrics are deeply negative, with a net income loss of 676.4 million CNY against revenue of 666.6 million CNY. The return on assets is -0.85, and the return on equity is reported as 0.43, a figure that is mathematically distorted by the negative equity base and does not reflect sustainable economic returns. Operating income is negative at -53.6 million CNY, and free cash flow is negative at -696.8 million CNY, driven by significant capital expenditures of 57.9 million CNY and negative operating cash flow of -14.5 million CNY. The EV/EBITDA ratio is negative at -200.59, rendering traditional valuation multiples ineffective.