CITIC Resources Holdings (HKSE:01205) Total Inventories : HK$436 Mil (As of Dec. 2023)

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What is CITIC Resources Holdings Total Inventories?

CITIC Resources Holdings's total inventories for the quarter that ended in Dec. 2023 was HK$436 Mil. CITIC Resources Holdings's average total inventories from the quarter that ended in Jun. 2023 to the quarter that ended in Dec. 2023 was HK$394 Mil.

In Ben Graham's calculation of Net-Net Working Capital, inventory is only considered worth half of its book value. CITIC Resources Holdings's Net-Net Working Capital per share for the quarter that ended in Dec. 2023 was HK$-0.25.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. CITIC Resources Holdings's Days Inventory for the six months ended in Dec. 2023 was 59.45.

Inventory Turnover measures how fast the company turns over its inventory within a year. CITIC Resources Holdings's Inventory Turnover for the quarter that ended in Dec. 2023 was 3.07.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. CITIC Resources Holdings's Inventory-to-Revenue for the quarter that ended in Dec. 2023 was 0.22.

CITIC Resources Holdings Total Inventories Historical Data

The historical data trend for CITIC Resources Holdings's Total Inventories 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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CITIC Resources Holdings Total Inventories Chart

CITIC Resources Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Total Inventories

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457.77

385.93

431.60

560.46

435.86

CITIC Resources Holdings Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Total Inventories	Get a 7-Day Free Trial															431.60	521.15	560.46	351.50	435.86

CITIC Resources Holdings Total Inventories Calculation

Total Inventories includes the raw materials, work-in-process goods and completely finished goods of a company. It is a portion of a company's current assets.

CITIC Resources Holdings (HKSE:01205) Total Inventories Explanation

Inventory control is an important part of business operation. If a company does not have enough inventory, it may not be able to meet customers' required delivery time. If it has too much inventory, the cost of holding the inventory can be high.

1. In Ben Graham's calculation of Net-Net Working Capital (NNWC), inventory is only considered worth half of its book value.

CITIC Resources Holdings's Net-Net Working Capital Per Share for the quarter that ended in Dec. 2023 is

	Net-Net Working Capital Per Share (Q: Dec. 2023 )
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(1483.816	+	0.75 * 239.688	+	0.5 * 435.861	-	3782.968
-	0	-	79.64)	/	7857.73
=	-0.25

2. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

CITIC Resources Holdings's Days Inventory for the six months ended in Dec. 2023 is calculated as:

Days Inventory	=	Average Total Inventories (Q: Dec. 2023 )	/	Cost of Goods Sold (Q: Dec. 2023 )	*	Days in Period
	=	393.6795	/	1208.482	*	365 / 2
	=	59.45

3. Inventory Turnover measures how fast the company turns over its inventory within a year.

CITIC Resources Holdings's Inventory Turnover for the quarter that ended in Dec. 2023 is calculated as

Inventory Turnover	=	Cost of Goods Sold (Q: Dec. 2023 )	/	Average Total Inventories (Q: Dec. 2023 )
	=	1208.482	/	393.6795
	=	3.07

4. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

CITIC Resources Holdings's Inventory to Revenue for the quarter that ended in Dec. 2023 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	393.6795	/	1782.355
	=	0.22

Be Aware

Manufacturers with durable competitive advantages have the advantage that the products they sell do not change, and therefore will never become obsolete. Buffett likes this advantage.

When identifying manufacturers with durable competitive advantage, look for inventory and net earnings that rise correspondingly. This indicates that the company is finding profitable ways to increase sales which called for an increase in inventory.

Manufacturers with inventories that spike up and down are indicative of competitive industries subject to boom and bust.

CITIC Resources Holdings Total Inventories Related Terms

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CITIC Resources Holdings (HKSE:01205) Business Description

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Address

1 Austin Road West, International Commerce Centre, Suites 6701-02 & 08B, 67th Floor, Kowloon, Hong Kong, HKG

Website

http://www.resources.citic

CITIC Resources Holdings Ltd is a provider of strategic natural resources and key commodities. Its activities are the export of commodity products including aluminum ingots, coal, iron ore, alumina, and copper; and the import of other commodity products and manufactured goods including steel, vehicle, and industrial batteries. It has four operating segments; the aluminum smelting segment comprises the operation of the PAS which sources alumina and produces aluminum ingots, the coal segment comprises the operation of coal mines and the sale of coal, the import and export of commodities segment comprises the import of other commodity products and manufactured goods such as steel, and the crude oil segment comprises the operation of oilfields and the sale of crude oil.

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