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Definitive Analysis

Financial Statements

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Page: Company Financials

Heilongjiang Tianyouwei Electronics Co., Ltd.

Ticker: 603202.SS | Industry: Auto - Parts | Sector: Consumer Cyclical
$93.52 -0.41 (-0.44%)
As of: 2026-01-28

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Enterprise Value

Metric 2025 2024 2023
Stock Price 96.50 93.50 93.50
Market Capitalization 12,905.51M 11,235.35M 11,139.68M
(-) Cash & Equivalents 3,876.13M 617.83M 367.88M
(+) Total Debt 601.06M 182.99M 183.55M
Enterprise Value 9,630.44M 10,800.51M 10,955.35M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenue 4,215M 4,229M 4,465M 3,437M 1,972M 1,168M 934M
Cost of Revenue 1,898M 1,281M 2,882M 2,193M 1,359M 908M 768M
Gross Profit 2,318M 2,947M 1,583M 1,244M 613M 260M 166M
Gross Profit Margin 55.0% 69.7% 35.5% 36.2% 31.1% 22.2% 17.7%
R&D Expenses 175M 73M 164M 111M 85M 74M 64M
SG&A Expenses 118M 49M 116M 142M 48M 25M 32M
Operating Expenses 1,182M 1,634M 259M 252M 167M 131M 135M
Operating Income (EBIT) 1,135M 1,313M 1,324M 992M 446M 129M 30M
Operating Income Margin 26.9% 31.1% 29.6% 28.9% 22.6% 11.0% 3.2%
Interest Income 48M 9M 30M 2M 1M 1M 0M
Interest Expense 11M 8M 17M 17M 19M 26M 23M
Net Interest Income 38M 1M 13M -15M -18M -25M -23M
Unusual Items 42M -1M -13M 14M 16M 25M 22M
EBT Excluding Unusual Items 1,173M 1,314M 1,337M 978M 429M 103M 7M
Pre-Tax Income 1,215M 1,313M 1,324M 992M 444M 128M 29M
Pre-Tax Margin 28.8% 31.1% 29.7% 28.9% 22.5% 11.0% 3.1%
Income Tax Expense 106M 92M 188M 149M 48M 12M -7M
Net Income 1,064M 1,129M 1,136M 842M 397M 116M 37M
Net Income Margin 25.2% 26.7% 25.5% 24.5% 20.1% 9.9% 3.9%
Depreciation & Amortization 0M 0M 62M 43M 33M 31M 24M
EBITDA 1,135M 1,313M 1,385M 1,035M 480M 160M 54M
EBITDA Margin 26.9% 31.1% 31.0% 30.1% 24.3% 13.7% 5.8%
NOPAT 1,037M 1,221M 1,136M 843M 398M 117M 38M
NOPAT Margin 24.6% 28.9% 25.4% 24.5% 20.2% 10.0% 4.1%
Owner's Earnings 706M 1,129M 913M 815M 288M 85M -101M
Owner's Earnings Margin 16.7% 26.7% 20.4% 23.7% 14.6% 7.2% -10.8%
EPS (Basic) 8.33 9.41 9.47 7.02 3.33 0.97 0.31
EPS (Diluted) 8.18 9.42 9.47 7.02 3.33 0.97 0.31
Shares (Basic) 130M 120M 120M 120M 119M 119M 119M
Shares (Diluted) 130M 120M 120M 120M 119M 119M 119M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash & Cash Equivalents 4,466.73M 5,382.33M 1,297.20M 735.77M 196.82M 165.09M 48.06M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.52M 0.01M
Cash & Short-Term Investments 4,466.73M 5,382.33M 1,297.20M 735.77M 196.82M 165.61M 48.07M
Net Receivables 1,329.25M 1,237.25M 1,512.67M 1,328.47M 778.25M 494.56M 492.74M
Inventory 890.66M 857.96M 829.83M 700.53M 613.59M 365.08M 358.60M
Other Current Assets 701.00M 104.72M 84.74M 41.98M 1.42M 0.39M 17.34M
Total Current Assets 7,387.64M 7,582.27M 3,724.44M 2,806.75M 1,590.08M 1,025.63M 916.75M
Property, Plant & Equipment 1,010.18M 971.71M 898.57M 450.58M 404.94M 307.26M 312.66M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 297.09M 296.44M 258.24M 127.44M 126.58M 127.64M 109.86M
Long-Term Investments 58.67M 56.84M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 51.76M 59.35M 56.98M 54.95M 40.78M 31.89M 26.05M
Other Non-Current Assets 203.94M 141.21M 161.90M 133.42M 119.46M 110.60M 138.96M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 1,621.64M 1,525.55M 1,375.69M 766.38M 691.75M 577.40M 587.53M
Total Assets 9,009.28M 9,107.81M 5,100.13M 3,573.14M 2,281.83M 1,603.03M 1,504.27M
Accounts Payable 821.52M 1,488.98M 1,471.75M 1,055.85M 676.07M 369.98M 475.82M
Short-Term Debt 821.29M 70.00M 0.00M 60.04M 250.49M 229.10M 111.41M
Tax Payables 0.00M 55.04M 77.69M 108.07M 39.64M 14.34M 0.58M
Deferred Revenue 16.17M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 330.45M 142.06M 144.32M 149.58M 75.06M 197.03M 138.53M
Total Current Liabilities 1,989.44M 1,756.08M 1,693.75M 1,373.54M 1,041.25M 810.46M 726.34M
Long-Term Debt 93.50M 93.50M 159.00M 306.98M 217.10M 248.68M 352.90M
Capital Lease Obligations 0.00M 164.89M 163.24M 0.09M 0.67M 0.83M 7.41M
Deferred Tax Liabilities 0.21M 0.00M 0.04M 9.79M 10.78M 0.25M 2.81M
Other Non-Current Liabilities 49.83M 60.43M 64.83M 29.59M 20.43M 16.18M 11.76M
Total Non-Current Liabilities 143.54M 318.82M 387.11M 346.45M 248.98M 265.92M 374.88M
Total Liabilities 2,132.98M 2,074.90M 2,080.86M 1,719.99M 1,290.23M 1,076.38M 1,101.23M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 160.00M 160.00M 120.00M 120.00M 120.00M 16.24M 16.24M
Retained Earnings 2,427.01M 2,333.91M 2,206.51M 1,070.02M 354.09M 345.18M 223.84M
Accumulated OCI 4,040.67M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Minority Interest -0.88M -0.58M -0.29M 0.30M 0.13M 0.20M 0.00M
Total Shareholders’ Equity 6,627.67M 2,493.91M 2,326.51M 1,190.02M 474.09M 361.42M 240.08M
Total Equity 6,626.80M 2,493.33M 2,326.23M 1,190.33M 474.21M 361.62M 240.08M
Total Liabilities & Equity 8,759.77M 4,568.23M 4,407.09M 2,910.31M 1,764.45M 1,438.00M 1,341.30M
Tangible Assets 8,712.19M 8,811.38M 4,841.89M 3,445.70M 2,155.25M 1,475.38M 1,394.42M
Tangible Equity 6,329.71M 2,196.89M 2,067.99M 1,062.89M 347.64M 233.98M 130.22M
Tangible Book Value 6,329.71M 2,196.89M 2,067.99M 1,062.89M 347.64M 233.98M 130.22M
Total Investments 58.67M 56.84M 0.00M 0.00M 0.00M 0.52M 0.01M
Net Debt -3,551.94M -5,218.83M -1,138.20M -368.75M 270.76M 312.69M 416.25M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Working Capital 5,435.4M 5,457.3M 2,002.6M 1,445.7M 569.9M 200.4M 187.5M
Total Capital 7,704.2M 6,866.2M 3,186.2M 2,104.5M 1,346.1M 852.8M 757.1M
Capital Employed 7,057.0M 6,982.9M 3,378.3M 2,212.1M 1,261.6M 777.8M 775.0M
Invested Capital 3,237.5M 1,483.9M 1,889.0M 1,368.7M 1,149.3M 687.7M 709.0M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Net Income 786.36M 0.00M 1,136.15M 842.57M 396.66M 116.23M 36.77M
Depreciation & Amortization 24.97M 0.00M 61.51M 42.61M 33.10M 30.94M 23.73M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 1.60M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 83.96M 0.00M -209.01M -393.57M -405.26M -36.33M -206.37M
Accounts Receivable 130.25M 0.00M -219.30M -573.64M -631.71M 78.98M -142.11M
Inventory -46.29M 0.00M -130.62M -91.47M -255.58M -1.25M -28.45M
Accounts Payable 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital 0.00M 0.00M 140.90M 271.55M 482.02M -114.06M -35.81M
Other Non-Cash Items 390.94M 0.00M 68.03M 53.70M 76.94M 37.34M 44.49M
Net Cash from Operating Activities 1,287.83M 0.00M 1,056.68M 545.32M 101.45M 148.18M -101.38M
Capital Expenditures (PPE) -358.59M 0.00M -285.50M -69.41M -141.81M -62.40M -161.03M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -1,609.84M 0.00M -862.01M 0.00M -7.35M 0.00M 0.00M
Sales / Maturities of Investments 1,032.64M 0.00M 3.30M 4.80M 6.72M 7.80M 1.63M
Other Investing Activities -1,055.06M 0.00M 1.05M 0.00M 1.99M 0.12M 0.00M
Net Cash from Investing Activities -1,990.85M 0.00M -1,143.16M -64.60M -140.46M -54.49M -159.40M
Net Debt Issuance 62.50M 0.00M -204.38M 4.24M -82.47M 86.57M 223.51M
Long-Term Debt Issuance -7.50M 0.00M -204.38M 4.24M -82.47M 86.57M 223.51M
Short-Term Debt Issuance 70.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -6.61M 0.00M -11.30M -59.05M -24.80M -77.36M -23.25M
Common Dividends Paid -6.61M 0.00M -11.30M 0.00M 0.00M 0.00M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 2,983.81M 0.00M -5.89M -16.15M 73.68M 23.66M 54.78M
Net Cash from Financing Activities 3,039.70M 0.00M -221.57M -70.96M -33.59M 32.88M 255.04M
Effect of FX on Cash 4.90M 0.00M 17.74M 6.54M 9.57M -1.28M -0.01M
Net Change in Cash 2,481.98M 0.00M -290.31M 416.30M -63.03M 125.29M -5.74M
Cash at Beginning of Period 6,310.19M 0.00M 483.29M 66.99M 130.02M 4.74M 10.48M
Cash at End of Period 8,792.17M 0.00M 192.98M 483.29M 66.99M 130.02M 4.74M
Operating Cash Flow 1,287.83M 0.00M 1,056.68M 545.32M 101.45M 148.18M -101.38M
Capital Expenditure -358.59M 0.00M -285.50M -69.41M -141.81M -62.40M -161.03M
Free Cash Flow 929.24M 0.00M 771.17M 475.91M -40.36M 85.77M -262.41M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
EBITDA 2,024.59M 0.00M 1,364.85M 1,033.31M 513.96M 191.00M 93.86M
(-) Tax Adjustment 175.85M 0.00M 193.64M 155.68M 55.29M 18.01M 0.00M
(-) Change In Working Capital 83.96M 0.00M -209.01M -393.57M -405.26M -36.33M -206.37M
(-) Capital Expenditure -358.59M 0.00M -285.50M -69.41M -141.81M -62.40M -161.03M
Unlevered Free Cash Flow 1,406.20M 0.00M 1,094.71M 1,201.78M 722.12M 146.91M 139.20M
(-) Net Interest Income After Taxes 34.27M 0.00M 11.26M -12.38M -15.99M -22.98M -23.30M
Net Debt Issuance 62.50M 0.00M -204.38M 4.24M -82.47M 86.57M 223.51M
Levered Free Cash Flow 1,434.42M 0.00M 879.07M 1,218.40M 655.64M 256.46M 386.01M