Joy City Property (HKSE:00207) Accounts Receivable : HK$145 Mil (As of Dec. 2023)

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What is Joy City Property Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Joy City Property's accounts receivables for the quarter that ended in Dec. 2023 was HK$145 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Joy City Property's Days Sales Outstanding for the quarter that ended in Dec. 2023 was 2.56.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Joy City Property's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was HK$-5.25.

Joy City Property Accounts Receivable Historical Data

The historical data trend for Joy City Property's Accounts Receivable 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.

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Joy City Property Accounts Receivable Chart

Joy City Property Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Accounts Receivable

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193.23

225.10

176.96

154.74

145.35

Joy City Property Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Accounts Receivable	Get a 7-Day Free Trial															176.96	230.53	154.74	151.44	145.35

Joy City Property Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Joy City Property Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Joy City Property's Days Sales Outstanding for the quarter that ended in Dec. 2023 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	145.351	/	10346.862	*	91
=	2.56

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Joy City Property's accounts receivable are only considered to be worth 75% of book value:

Joy City Property's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(21254.526	+	0.75 * 145.351	+	0.5 * 48215.314	-	95357.557
-	1883.834	-	22881.42)	/	14231.1
=	-5.25

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Joy City Property Accounts Receivable Related Terms

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Joy City Property (HKSE:00207) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Joy City Property Ltd (HKSE:00207) » Definitions » Accounts Receivable

Traded in Other Exchanges

HKP:Germany

Address

262 Gloucester Road, 33rd Floor, COFCO Tower, Causeway Bay, Hong Kong, HKG

Website

http://www.joy-cityproperty.com

Joy City Property Ltd is a large-scale commercial property developer and operator, working on the development, operation, sales, leasing and management of mixed-use complexes and other commercial properties such as shopping centers, hotels, offices, serviced apartments and resort and tourist properties in China. Rental income accounts for majority of the operating profit. The company's portfolio consists of various retail malls under the flagship brand of Joy City, and some office and hotel assets. Recently, it introduced a second brand called Joy Breeze, consisting of smaller retail assets. The businesses of the Group are divided into four areas, namely investment properties, property development, hotel operations and output management and other services.

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