* 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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China HK Power Smart Energy Group Piotroski F-Score Chart
Competitive Comparison of China HK Power Smart Energy Group's Piotroski F-Score
For the Oil & Gas Refining & Marketing subindustry, China HK Power Smart Energy Group'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.
China HK Power Smart Energy Group's Piotroski F-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, China HK Power Smart Energy Group's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where China HK Power Smart Energy Group'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.
*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.
China HK Power Smart Energy Group's current Net Income (TTM) was -167.2.
==> Negative ==> Score 0.
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.
China HK Power Smart Energy Group's current Cash Flow from Operations (TTM) was 19.7.
==> 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.
China HK Power Smart Energy Group's return on assets of this year was -0.10537056. China HK Power Smart Energy Group's return on assets of last year was -0.12404342.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
China HK Power Smart Energy Group's gearing of this year was 0.34483659. China HK Power Smart Energy Group's gearing of last year was 0.32358618.
==> Last year is lower than this year ==> Score 0.
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
China HK Power Smart Energy Group's current ratio of this year was 0.32897398. China HK Power Smart Energy Group's current ratio of last year was 0.48775998.
==> 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.
China HK Power Smart Energy Group's number of shares in issue this year was 5643.797. China HK Power Smart Energy Group's number of shares in issue last year was 5643.797.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
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.
China HK Power Smart Energy Group's gross margin of this year was -0.07600189. China HK Power Smart Energy Group's gross margin of last year was -0.07889547.
==> 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
China HK Power Smart Energy Group's asset turnover of this year was 0.13351408. China HK Power Smart Energy Group's asset turnover of last year was 0.26990598.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
0
+
1
+
1
+
1
+
0
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0
+
1
+
1
+
0
=
5
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
China HK Power Smart Energy Group has an F-score of 5 indicating the company's financial situation is typical for a stable company.
China HK Power Smart Energy Group (HKSE:00931) 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.
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.
China HK Power Smart Energy Group Piotroski F-Score Related Terms
Thank you for viewing the detailed overview of China HK Power Smart Energy Group's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
China HK Power Smart Energy Group (HKSE:00931) Business Description
China HK Power Smart Energy Group Ltd Formerly China LNG Group Ltd is engaged in the development of new energy businesses, which include investment, construction & operation of liquefied natural gas infrastructure, and financial leasing services. Its segments include financial services through finance leasing services for LNG vehicles, vessels, and equipment, provision of LNG in the downstream market, provision of commercial vehicle platform services, trading of securities, properties investment, and financial services through the provision of money lending business & LNG business which is Sales & distribution of LNG including wholesale of LNG, point-to-point supply of LNG, LNG pipeline network and provision of LNG logistic services in the PRC. The majority of revenue is from LNG business.
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