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Zhejiang Akcome New Energy Technology Co (SZSE:002610) Effective Interest Rate on Debt % : 9.94% (As of Mar. 2024)


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What is Zhejiang Akcome New Energy Technology Co Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Zhejiang Akcome New Energy Technology Co's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was ¥349 Mil. Zhejiang Akcome New Energy Technology Co's average total debt for the quarter that ended in Mar. 2024 was ¥3,509 Mil. Therefore, Zhejiang Akcome New Energy Technology Co's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 9.94%.


Zhejiang Akcome New Energy Technology Co Effective Interest Rate on Debt % Historical Data

The historical data trend for Zhejiang Akcome New Energy Technology Co's Effective Interest Rate on Debt % 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.

Zhejiang Akcome New Energy Technology Co Effective Interest Rate on Debt % Chart

Zhejiang Akcome New Energy Technology Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.00 13.09 9.85 7.30 1.01

Zhejiang Akcome New Energy Technology Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % 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 5.62 5.56 6.48 -15.03 9.94

Competitive Comparison of Zhejiang Akcome New Energy Technology Co's Effective Interest Rate on Debt %

For the Solar subindustry, Zhejiang Akcome New Energy Technology Co's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % 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.


Zhejiang Akcome New Energy Technology Co's Effective Interest Rate on Debt % Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Zhejiang Akcome New Energy Technology Co's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Zhejiang Akcome New Energy Technology Co's Effective Interest Rate on Debt % falls into.



Zhejiang Akcome New Energy Technology Co Effective Interest Rate on Debt % Calculation

Zhejiang Akcome New Energy Technology Co's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Dec. 2022 )+Total Debt  (A: Dec. 2023 ))/ count )
=-1  *  -34.024/( (3326.085+3383.729)/ 2 )
=-1  *  -34.024/3354.907
=1.01 %

where

Total Debt  (A: Dec. 2022 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=280.706 + 3045.379
=3326.085

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=118.5 + 3265.229
=3383.729

Zhejiang Akcome New Energy Technology Co's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -348.716/( (3383.729+3633.755)/ 2 )
=-1  *  -348.716/3508.742
=9.94 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=118.5 + 3265.229
=3383.729

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=228.56 + 3405.195
=3633.755

* 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.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


Zhejiang Akcome New Energy Technology Co  (SZSE:002610) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


Zhejiang Akcome New Energy Technology Co Effective Interest Rate on Debt % Related Terms

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Zhejiang Akcome New Energy Technology Co (SZSE:002610) Business Description

Traded in Other Exchanges
N/A
Address
West Jintang Road, Economic Development Zone of Zhangjiagang, Jiangsu Province, Zhangjiagang, CHN, 215600
Zhejiang Akcome New Energy Technology Co Ltd Formerly Jiangsu Akcome Science & Technology Co Ltd is a Chinese technology-based company specialized in the investment and operation of power generated by new energy, and the one-stop provision of photovoltaic (PV) accessories. It offers products such as the solar framework, sectional material, modules, solar cell, aluminum framework of polar battery, PV installation rack and PV welding strip. In addition, the company is also involved in the online energy business. The company has a business presence in China and other countries.

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