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Definitive Analysis

Financial Statements

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Page: Company Financials

Guangdong Syntrust GK Testing and Certification Tech Service Center Co., Ltd.

Ticker: 8629.HK | Industry: Engineering & Construction | Sector: Industrials
$8.31 -0.01 (-0.12%)
As of: 2026-01-23

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Enterprise Value

Metric 2024 2023
Stock Price 9.07 9.06
Market Capitalization 307.46M 307.19M
(-) Cash & Equivalents 71.16M 29.57M
(+) Total Debt 39.08M 1.00M
Enterprise Value 275.38M 278.62M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Revenue 114M 0.00M 55M 42M 20M 40M
Cost of Revenue 43M 0.00M 20M 12M 8M 10M
Gross Profit 71M 0.00M 35M 30M 11M 30M
Gross Profit Margin 62.0% 0.0% 63.5% 71.8% 57.6% 75.9%
R&D Expenses 2M 0.00M 1M 0M 0M 0M
SG&A Expenses 33M 0.00M 17M 10M 1M 1M
Operating Expenses 34M 0.00M 15M 12M 7M 6M
Operating Income (EBIT) 37M 0.00M 20M 18M 4M 24M
Operating Income Margin 32.3% 0.0% 36.5% 43.1% 20.7% 60.0%
Interest Income 0M 0.00M 0M 0M 0M 0M
Interest Expense 2M 0.00M 1M 0M 0M 0M
Net Interest Income -2M 0.00M -1M 0M 0M 0M
Unusual Items 6M 0.00M 3M 0M 0M 0M
EBT Excluding Unusual Items 35M 0.00M 19M 18M 4M 24M
Pre-Tax Income 41M 0.00M 22M 18M 4M 24M
Pre-Tax Margin 35.7% 0.0% 40.4% 42.7% 19.8% 59.6%
Income Tax Expense 11M 0.00M 6M 4M 1M 6M
Net Income 29M 0.00M 16M 13M 3M 18M
Net Income Margin 25.3% 0.0% 29.5% 31.9% 14.6% 44.6%
Depreciation & Amortization 10M 0.00M 5M 2M 1M 1M
EBITDA 47M 0.00M 25M 20M 5M 25M
EBITDA Margin 40.9% 0.0% 45.1% 47.6% 27.3% 63.2%
NOPAT 27M 0.00M 15M 13M 3M 18M
NOPAT Margin 23.4% 0.0% 26.7% 32.2% 15.3% 44.9%
Owner's Earnings 8M 0.00M 2M 11M 3M 18M
Owner's Earnings Margin 6.7% 0.0% 3.4% 25.4% 13.6% 44.7%
EPS (Basic) 0.85 0.00 0.52 0.39 0.09 0.52
EPS (Diluted) 0.85 0.00 0.48 0.39 0.09 0.52
Shares (Basic) 34M 0.00M 34M 34M 34M 34M
Shares (Diluted) 34M 0.00M 34M 34M 34M 34M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Cash & Cash Equivalents 100.57M 99.86M 99.86M 59.15M 32.22M 35.85M
Short-Term Investments 0.00M 10.00M 10.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 100.57M 109.86M 109.86M 59.15M 32.22M 35.85M
Net Receivables 68.52M 54.68M 54.68M 46.20M 35.84M 36.60M
Inventory 4.08M 0.11M 3.17M 0.00M 0.00M 0.00M
Other Current Assets 0.00M 2.88M -0.19M 1.39M 2.05M 0.82M
Total Current Assets 173.17M 167.52M 167.52M 106.74M 70.12M 73.27M
Property, Plant & Equipment 67.87M 63.04M 63.04M 5.91M 6.85M 4.87M
Goodwill 2.08M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.51M 0.50M 0.50M 0.12M 1.00M 1.11M
Long-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 3.78M 2.30M 2.30M 3.04M 2.46M 2.30M
Other Non-Current Assets 2.40M 1.68M 1.68M 3.03M 3.98M 4.19M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 76.64M 67.52M 67.52M 12.09M 14.29M 12.47M
Total Assets 249.82M 235.05M 235.05M 118.83M 84.41M 85.73M
Accounts Payable 5.71M 4.83M 4.83M 0.61M 0.74M 0.11M
Short-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Payables 0.89M 2.17M 2.17M 4.92M 3.84M 10.59M
Deferred Revenue 0.00M 0.49M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 0.00M -0.03M 0.46M 7.06M 1.06M 0.75M
Total Current Liabilities 6.59M 7.46M 7.46M 12.59M 5.64M 11.44M
Long-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Capital Lease Obligations 39.37M 39.56M 39.56M 2.00M 6.48M 5.39M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Liabilities 39.37M 39.56M 39.56M 2.00M 6.48M 5.39M
Total Liabilities 45.96M 47.03M 47.03M 14.59M 12.12M 16.83M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 33.93M 33.93M 33.93M 23.75M 1.82M 0.49M
Retained Earnings 0.00M 35.00M 35.00M 20.33M 66.60M 65.59M
Accumulated OCI 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Minority Interest 9.46M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 33.93M 68.93M 68.93M 44.08M 68.42M 66.08M
Total Equity 43.39M 68.93M 68.93M 44.08M 68.42M 66.08M
Total Liabilities & Equity 89.35M 115.95M 115.95M 58.67M 80.54M 82.91M
Tangible Assets 247.22M 234.54M 234.54M 118.71M 83.41M 84.63M
Tangible Equity 40.80M 68.43M 68.43M 43.97M 67.42M 64.97M
Tangible Book Value 40.80M 68.43M 68.43M 43.97M 67.42M 64.97M
Total Investments 0.00M 10.00M 10.00M 0.00M 0.00M 0.00M
Net Debt -100.57M -99.86M -99.86M -59.15M -32.22M -35.85M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Working Capital 145.8M 149.6M 149.6M 92.0M 60.8M 59.5M
Total Capital 214.4M 218.4M 218.4M 104.6M 75.8M 72.4M
Capital Employed 222.5M 217.1M 217.1M 104.1M 75.1M 72.0M
Invested Capital 113.8M 118.5M 118.5M 45.4M 43.6M 36.5M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Net Income 28.81M 0.00M 22.32M 17.73M 3.95M 23.72M
Depreciation & Amortization 9.79M 0.00M 4.73M 1.89M 1.32M 1.26M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -20.62M 0.00M -18.17M 3.68M -1.95M -14.21M
Accounts Receivable -24.08M 0.00M -18.76M 3.82M -0.50M -13.85M
Inventory -1.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 5.56M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital -1.09M 0.00M 0.60M -0.14M -1.45M -0.36M
Other Non-Cash Items -1.12M 0.00M -8.67M -1.36M -5.16M -2.64M
Net Cash from Operating Activities 16.86M 0.00M 0.21M 21.94M -1.85M 8.14M
Capital Expenditures (PPE) -31.53M 0.00M -18.69M -4.54M -1.51M -1.19M
Acquisitions (Net) 5.81M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -10.85M 0.00M -10.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 10.74M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 8.88M 0.00M -0.44M -0.06M 0.52M 0.31M
Net Cash from Investing Activities -16.95M 0.00M -29.13M -4.59M -1.00M -0.88M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 116.91M 0.00M 87.85M 20.00M 1.33M 0.00M
Common Stock Issuance 116.91M 0.00M 87.85M 20.00M 1.33M 0.00M
Common Stock Repurchased 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
Net Dividends Paid 0.00M 0.00M 0.00M 0.00M -1.90M -1.90M
Common Dividends Paid 0.00M 0.00M 0.00M 0.00M -1.90M -1.90M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -34.50M 0.00M -20.38M -10.43M -0.21M -0.53M
Net Cash from Financing Activities 82.41M 0.00M 67.48M 9.57M -0.78M -2.43M
Effect of FX on Cash 27.85M 0.00M 2.16M 0.00M 0.00M 0.00M
Net Change in Cash 110.18M 0.00M 40.71M 26.92M -3.63M 4.82M
Cash at Beginning of Period 217.01M 0.00M 59.15M 32.22M 35.85M 31.02M
Cash at End of Period 327.19M 0.00M 99.86M 59.15M 32.22M 35.85M
Operating Cash Flow 16.86M 0.00M 0.21M 21.94M -1.85M 8.14M
Capital Expenditure -30.92M 0.00M -19.13M -4.59M -1.51M -1.23M
Free Cash Flow -14.06M 0.00M -18.92M 17.35M -3.36M 6.91M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31
EBITDA 45.89M 0.00M 21.88M 21.39M 11.70M 30.74M
(-) Tax Adjustment 12.73M 0.00M 5.90M 5.40M 3.08M 7.76M
(-) Change In Working Capital -20.62M 0.00M -18.17M 3.68M -1.95M -14.21M
(-) Capital Expenditure -30.92M 0.00M -19.13M -4.59M -1.51M -1.23M
Unlevered Free Cash Flow 22.87M 0.00M 15.01M 7.71M 9.06M 35.96M
(-) Net Interest Income After Taxes -1.25M 0.00M -0.59M 0.08M -0.14M -0.12M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Levered Free Cash Flow 24.11M 0.00M 15.60M 7.63M 9.20M 36.08M