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Kingnet Network Co (SZSE:002517) Piotroski F-Score : 7 (As of May. 28, 2024)


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What is Kingnet Network Co Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Kingnet Network Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Kingnet Network Co's Piotroski F-Score or its related term are showing as below:

SZSE:002517' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Kingnet Network Co was 8. The lowest was 4. And the median was 6.


Kingnet Network Co Piotroski F-Score Historical Data

The historical data trend for Kingnet Network Co's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Kingnet Network Co Piotroski F-Score Chart

Kingnet Network Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 6.00 5.00 8.00 7.00

Kingnet Network Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.00 6.00 6.00 7.00 7.00

Competitive Comparison of Kingnet Network Co's Piotroski F-Score

For the Electronic Gaming & Multimedia subindustry, Kingnet Network Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kingnet Network Co's Piotroski F-Score Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Kingnet Network Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kingnet Network Co's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar24) TTM:Last Year (Mar23) TTM:
Net Income was 434.43 + 358.069 + 379.413 + 426.19 = ¥1,598 Mil.
Cash Flow from Operations was 184.974 + 689.078 + 451.385 + 333.789 = ¥1,659 Mil.
Revenue was 1021.543 + 1053.06 + 1265.916 + 1307.536 = ¥4,648 Mil.
Gross Profit was 860.859 + 880.987 + 1043.284 + 1072.772 = ¥3,858 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(6195.098 + 6388.184 + 6314.597 + 6610.37 + 7211.733) / 5 = ¥6543.9964 Mil.
Total Assets at the begining of this year (Mar23) was ¥6,195 Mil.
Long-Term Debt & Capital Lease Obligation was ¥3 Mil.
Total Current Assets was ¥4,697 Mil.
Total Current Liabilities was ¥1,514 Mil.
Net Income was 379.549 + 286.35 + 111.037 + 289.802 = ¥1,067 Mil.

Revenue was 980.62 + 815.683 + 900.222 + 954.871 = ¥3,651 Mil.
Gross Profit was 722.337 + 644.795 + 706.884 + 800.255 = ¥2,874 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(5114.558 + 5444.212 + 5938.874 + 5780.954 + 6195.098) / 5 = ¥5694.7392 Mil.
Total Assets at the begining of last year (Mar22) was ¥5,115 Mil.
Long-Term Debt & Capital Lease Obligation was ¥14 Mil.
Total Current Assets was ¥4,392 Mil.
Total Current Liabilities was ¥1,224 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Kingnet Network Co's current Net Income (TTM) was 1,598. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Kingnet Network Co's current Cash Flow from Operations (TTM) was 1,659. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar23)
=1598.102/6195.098
=0.25796234

ROA (Last Year)=Net Income/Total Assets (Mar22)
=1066.738/5114.558
=0.20856895

Kingnet Network Co's return on assets of this year was 0.25796234. Kingnet Network Co's return on assets of last year was 0.20856895. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Kingnet Network Co's current Net Income (TTM) was 1,598. Kingnet Network Co's current Cash Flow from Operations (TTM) was 1,659. ==> 1,659 > 1,598 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=3.05/6543.9964
=0.00046608

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=13.772/5694.7392
=0.00241837

Kingnet Network Co's gearing of this year was 0.00046608. Kingnet Network Co's gearing of last year was 0.00241837. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=4697.011/1514.112
=3.10215559

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=4391.723/1224.04
=3.58789174

Kingnet Network Co's current ratio of this year was 3.10215559. Kingnet Network Co's current ratio of last year was 3.58789174. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Kingnet Network Co's number of shares in issue this year was 2130.949. Kingnet Network Co's number of shares in issue last year was 2070.011. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3857.902/4648.055
=0.83000352

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=2874.271/3651.396
=0.78717044

Kingnet Network Co's gross margin of this year was 0.83000352. Kingnet Network Co's gross margin of last year was 0.78717044. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar23)
=4648.055/6195.098
=0.7502795

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=3651.396/5114.558
=0.7139221

Kingnet Network Co's asset turnover of this year was 0.7502795. Kingnet Network Co's asset turnover of last year was 0.7139221. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+0+0+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Kingnet Network Co has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Kingnet Network Co  (SZSE:002517) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Kingnet Network Co Piotroski F-Score Related Terms

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Kingnet Network Co (SZSE:002517) Business Description

Traded in Other Exchanges
N/A
Address
No. 2388, Chenhang Highway, Building 3, Pujiang High-tech Plaza, Minhang District, Shanghai, CHN, 201114
Kingnet Network Co Ltd is a Chinese-based online game company. The company's main business covers research and development as well as the operation and publishing of quality entertainment content, including mobile games, web games, and PC games. It also engages in the operation of web game platforms and mobile app distribution platforms.
Executives
Jin Feng Director
Qian Jun Fa Directors, executives
Lin Bin Executives
Tang Yue Executives
Shen Jun Directors, executives
Zhao Fan Directors, executives
Huang Zhen Feng Executives
Liu Hong Lin Secretary Dong
Shen Liang Directors, executives
Chen Yong Cong Directors, executives
Fan Bo Executives
Qin Wei Supervisors
Ning Bing Yang Executives
Wang Yue Directors, executives
Feng Xian Chao Directors, executives

Kingnet Network Co (SZSE:002517) Headlines

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