Maoming Petro-Chemical Shihua Co Ltd

Capital Structure and Liquidity Maoming Petro-Chemical Shihua has a debt-to-equity ratio of 2.01, indicating a capital structure heavily reliant on debt. Free cash flow is negative at -131.7 million CNY, and operating cash flow of 42.99 million CNY is insufficient to cover capital expenditures of -62.17 million CNY. The current ratio of 0.58 suggests liquidity constraints, with current assets failing to cover current liabilities. ### Profitability and Returns The company reported a net loss of 141.68 million CNY and an operating loss of 175.68 million CNY, reflecting weak profitability. Return on equity is -28.08%, and return on assets is -7.32%, both significantly below the industry median for Commodity Chemicals. ### Segments and Geographic Exposure Maoming Petro-Chemical Shihua operates as a single business segment, with no disclosed geographic diversification beyond domestic markets in China, primarily Guangdong. Revenue concentration in a single region increases exposure to local economic and regulatory risks. ### Growth Trajectory The company’s recent financial performance shows declining profitability and negative operating income, with no disclosed growth initiatives or capital allocation plans to reverse this trend. Historical revenue of 3.11 billion CNY is not supported by positive operating cash flow or free cash flow, suggesting limited capacity for organic growth. ### Risk Factors Key risks include liquidity constraints, with net cash negative after subtracting total debt, and a high debt-to-equity ratio of 2.01. Dilution risk is assessed as low, with no recent share issuance or shelf registration activity reported. ### Recent Events No recent filings, transcripts, or material events were disclosed in the provided data.