Ningbo United Group Co Ltd

Ningbo United Group Co Ltd exhibits a capital structure with a debt-to-equity ratio of 0.21, indicating a relatively conservative leverage position compared to the industry median. The company's liquidity is assessed as medium, with a current ratio of 2.65, suggesting it can cover its short-term obligations but may face challenges in maintaining liquidity under stress scenarios. The price-to-book ratio of 0.64 implies that the company's market value is trading below its book value, potentially signaling undervaluation or concerns about asset quality.

Profitability metrics show a return on equity (ROE) of 1.13% and a return on assets (ROA) of 0.72%, both of which are below the industry median for integrated oil and gas firms. The company's gross profit margin is 31.94%, while the operating margin is 10.9%, indicating that while it maintains a decent gross margin, operating efficiency is a concern. The net income of 37,689,720 CNY reflects a modest profit, which is consistent with the low ROE and ROA figures.

The company's revenue is primarily concentrated in its core integrated oil and gas operations, with no disclosed geographic diversification. This lack of geographic segmentation increases exposure to regional economic and regulatory risks, particularly in China, where the company is headquartered. The absence of detailed segment reporting limits the ability to assess the performance of individual business lines.

Growth trajectory appears muted, with no significant revenue growth reported in the latest financial period. The company's revenue of 234,849,970 CNY is in line with the industry median, but the lack of forward-looking guidance and the absence of disclosed expansion plans suggest limited near-term growth potential. The capital expenditure of -11,179,720 CNY indicates a reduction in investment, which may signal a strategic shift or financial constraints.

Risk factors include a negative operating cash flow of -133,622,750 CNY, which raises concerns about the company's ability to fund operations without external financing. The risk assessment highlights a key flag: net cash is negative after subtracting total debt, indicating potential liquidity stress. The dilution risk is assessed as low, with no significant changes in shares outstanding between basic and diluted shares. However, the company's high price-to-earnings ratio of 56.91 suggests that investors are paying a premium for earnings, which may not be justified by the company's current performance.

Recent events include the latest actual EPS of 0.41 CNY and revenue of 3,157,360,000 CNY, as reported by analysts. These figures align with the company's financial snapshot, indicating consistent performance in the most recent reporting period. No recent filings or transcripts have been disclosed that would suggest significant operational or strategic changes.

Long-term debt decreased substantially to 144.4 million CNY in 2009, down from 910.7 million CNY in 2007.

The debt-to-equity ratio of 0.21 is below the coal cohort median of 0.20, indicating conservative leverage.

The company faces high credit risk according to internal risk flag assessments, posing significant financial stability concerns.

Cash conversion ratio of -3.55 places the company in the bottom quartile of the coal cohort.

Revenue ¥266.4M, +13,4% YoY; Operating income −12,9% YoY.

• ▍Revenue ¥266.4M, +13,4% YoY
• ▍Operating income −12,9% YoY
• ▍Net income −44,0% YoY
• ▍Net margin 7.9%

Revenue ¥302.1M, −47,7% YoY; Operating income +1 619,0% YoY.

• ▍Revenue ¥302.1M, −47,7% YoY
• ▍Operating income +1 619,0% YoY
• ▍Net income +215,5% YoY
• ▍Net margin 10.6%

Revenue ¥322.0M; Operating income ¥5.9M.

• ▍Revenue ¥322.0M
• ▍Operating income ¥5.9M
• ▍Net margin 4.3%

Revenue ¥775.2M; Operating income ¥52.4M.

• ▍Revenue ¥775.2M
• ▍Operating income ¥52.4M
• ▍Net margin 3.4%

Revenue ¥577.3M; Operating income -¥1.7M.

• ▍Revenue ¥577.3M
• ▍Operating income -¥1.7M
• ▍Net margin 1.8%

Revenue ¥234.8M; Operating income ¥25.6M.

• ▍Revenue ¥234.8M
• ▍Operating income ¥25.6M
• ▍Net margin 16.0%

Revenue ¥1.27B, −29,1% YoY; Operating income −27,0% YoY.

• ▍Revenue ¥1.27B, −29,1% YoY
• ▍Operating income −27,0% YoY
• ▍Net income +4,0% YoY
• ▍Free cash flow −56,8% YoY
• ▍Net margin 6.7%

Revenue ¥1.79B, +1,4% YoY; Operating income −26,0% YoY.

• ▍Revenue ¥1.79B, +1,4% YoY
• ▍Operating income −26,0% YoY
• ▍Net income −23,6% YoY
• ▍Free cash flow −37,3% YoY
• ▍Net margin 4.5%

Revenue ¥1.76B, −33,6% YoY; Operating income −53,4% YoY.

• ▍Revenue ¥1.76B, −33,6% YoY
• ▍Operating income −53,4% YoY
• ▍Net income −29,2% YoY
• ▍Free cash flow −86,5% YoY
• ▍Net margin 6.0%

Revenue ¥2.66B, −28,7% YoY; Operating income −60,8% YoY.

• ▍Revenue ¥2.66B, −28,7% YoY
• ▍Operating income −60,8% YoY
• ▍Net income −39,9% YoY
• ▍Free cash flow −65,7% YoY
• ▍Net margin 5.6%

Revenue ¥3.73B; Operating income ¥545.9M.

• ▍Revenue ¥3.73B
• ▍Operating income ¥545.9M
• ▍Net margin 6.7%