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Jchx Mining Management Co (SHSE:603979) Piotroski F-Score : 8 (As of May. 12, 2024)


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What is Jchx Mining Management Co Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, 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

Jchx Mining Management Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

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

SHSE:603979' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 5   Max: 9
Current: 8

During the past 13 years, the highest Piotroski F-Score of Jchx Mining Management Co was 9. The lowest was 3. And the median was 5.


Jchx Mining Management Co Piotroski F-Score Historical Data

The historical data trend for Jchx Mining Management 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.

Jchx Mining Management Co Piotroski F-Score Chart

Jchx Mining Management 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 5.00 8.00 5.00 6.00 6.00

Jchx Mining Management 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 5.00 5.00 6.00 6.00 8.00

Competitive Comparison of Jchx Mining Management Co's Piotroski F-Score

For the Other Industrial Metals & Mining subindustry, Jchx Mining Management 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.


Jchx Mining Management Co's Piotroski F-Score Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Jchx Mining Management Co's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Jchx Mining Management 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 217.464 + 307.648 + 321.206 + 273.79 = ¥1,120 Mil.
Cash Flow from Operations was 238.975 + 278.966 + 536.111 + 69.067 = ¥1,123 Mil.
Revenue was 1803.186 + 2032.634 + 2087.655 + 1972.694 = ¥7,896 Mil.
Gross Profit was 504.657 + 695.463 + 669.605 + 576.797 = ¥2,447 Mil.
Average Total Assets from the begining of this year (Mar23)
to the end of this year (Mar24) was
(11568.501 + 12897.798 + 13578.858 + 13625.275 + 13769.628) / 5 = ¥13088.012 Mil.
Total Assets at the begining of this year (Mar23) was ¥11,569 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2,055 Mil.
Total Current Assets was ¥7,314 Mil.
Total Current Liabilities was ¥3,632 Mil.
Net Income was 136.355 + 146.786 + 169.301 + 184.909 = ¥637 Mil.

Revenue was 1336.09 + 1396.412 + 1479.958 + 1475.739 = ¥5,688 Mil.
Gross Profit was 355.474 + 360.139 + 404.505 + 376.16 = ¥1,496 Mil.
Average Total Assets from the begining of last year (Mar22)
to the end of last year (Mar23) was
(9204.284 + 9765.967 + 10695.446 + 11272.304 + 11568.501) / 5 = ¥10501.3004 Mil.
Total Assets at the begining of last year (Mar22) was ¥9,204 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,617 Mil.
Total Current Assets was ¥6,455 Mil.
Total Current Liabilities was ¥3,336 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.

Jchx Mining Management Co's current Net Income (TTM) was 1,120. ==> 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.

Jchx Mining Management Co's current Cash Flow from Operations (TTM) was 1,123. ==> 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)
=1120.108/11568.501
=0.09682395

ROA (Last Year)=Net Income/Total Assets (Mar22)
=637.351/9204.284
=0.06924504

Jchx Mining Management Co's return on assets of this year was 0.09682395. Jchx Mining Management Co's return on assets of last year was 0.06924504. ==> 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.

Jchx Mining Management Co's current Net Income (TTM) was 1,120. Jchx Mining Management Co's current Cash Flow from Operations (TTM) was 1,123. ==> 1,123 > 1,120 ==> 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
=2055.064/13088.012
=0.1570188

Gearing (Last Year: Mar23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar22 to Mar23
=1617.352/10501.3004
=0.15401445

Jchx Mining Management Co's gearing of this year was 0.1570188. Jchx Mining Management Co's gearing of last year was 0.15401445. ==> 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

Current Ratio (This Year: Mar24)=Total Current Assets/Total Current Liabilities
=7314.468/3631.884
=2.0139597

Current Ratio (Last Year: Mar23)=Total Current Assets/Total Current Liabilities
=6454.671/3335.652
=1.93505528

Jchx Mining Management Co's current ratio of this year was 2.0139597. Jchx Mining Management Co's current ratio of last year was 1.93505528. ==> This year's current ratio is higher. ==> Score 1.

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.

Jchx Mining Management Co's number of shares in issue this year was 636.721. Jchx Mining Management Co's number of shares in issue last year was 637.619. ==> 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.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=2446.522/7896.169
=0.30983658

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1496.278/5688.199
=0.26304952

Jchx Mining Management Co's gross margin of this year was 0.30983658. Jchx Mining Management Co's gross margin of last year was 0.26304952. ==> 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)
=7896.169/11568.501
=0.68255766

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar22)
=5688.199/9204.284
=0.61799473

Jchx Mining Management Co's asset turnover of this year was 0.68255766. Jchx Mining Management Co's asset turnover of last year was 0.61799473. ==> 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+0+1+1+1+1
=8

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

Jchx Mining Management Co has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Jchx Mining Management Co  (SHSE:603979) 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.


Jchx Mining Management Co Piotroski F-Score Related Terms

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Jchx Mining Management Co (SHSE:603979) Business Description

Traded in Other Exchanges
N/A
Address
No. 28 Shuiyuan Road, Room 101, Building 1, Economic Development Zone, Miyun County, Beijing, CHN, 101500
Jchx Mining Management Co Ltd is a mining construction company. The Company is engaged in mine development and construction, contract mining and research and development in non-ferrous, ferrous and chemical industries. Currently, the company projects are in Xiadian, Baiyu, Lubambe Copper Mine, Jinfeng Project, and others.

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