Irico Group New Energy Co (HKSE:00438) Long-Term Capital Lease Obligation : HK$354 Mil (As of Dec. 2023)

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What is Irico Group New Energy Co Long-Term Capital Lease Obligation?

Irico Group New Energy Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was HK$354 Mil.

Irico Group New Energy Co's quarterly Long-Term Capital Lease Obligation increased from Dec. 2022 (HK$56 Mil) to Jun. 2023 (HK$100 Mil) and increased from Jun. 2023 (HK$100 Mil) to Dec. 2023 (HK$354 Mil).

Irico Group New Energy Co's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (HK$16 Mil) to Dec. 2022 (HK$56 Mil) and increased from Dec. 2022 (HK$56 Mil) to Dec. 2023 (HK$354 Mil).

Irico Group New Energy Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Irico Group New Energy Co's Long-Term Capital Lease Obligation 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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Irico Group New Energy Co Long-Term Capital Lease Obligation Chart

Irico Group New Energy Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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11.86

6.78

16.49

56.43

353.53

Irico Group New Energy Co Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															16.49	-	56.43	100.35	353.53

Irico Group New Energy Co (HKSE:00438) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Irico Group New Energy Co (HKSE:00438) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Irico Group New Energy Co Ltd (HKSE:00438) » Definitions » Long-Term Capital Lease Obligation

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Address

No. 1 Caihong Road, Qingdu District, Shaanxi Province, Xianyang, CHN, 712021

Website

http://www.irico.com.cn/en

Irico Group New Energy Co Ltd is mainly engaged in the solar photovoltaic business. It operates through the following segments: Solar photovoltaic & module business segment, and Others. The majority of its revenue is derived from Solar Photovoltaic, which includes Solar photovoltaic glass, Solar photovoltaic modules, Solar photovoltaic power stations, and Quartz sand business. Its geographical segments are China (excluding Hong Kong), Hong Kong, and Other countries, of which the majority of its revenue comes from China.

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