ZhongAn Online P&C Insurance Co (HKSE:06060) Long-Term Capital Lease Obligation : HK$313 Mil (As of Dec. 2023)

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What is ZhongAn Online P&C Insurance Co Long-Term Capital Lease Obligation?

ZhongAn Online P&C Insurance Co's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was HK$313 Mil.

ZhongAn Online P&C Insurance Co's quarterly Long-Term Capital Lease Obligation declined from Dec. 2022 (HK$417 Mil) to Jun. 2023 (HK$381 Mil) and declined from Jun. 2023 (HK$381 Mil) to Dec. 2023 (HK$313 Mil).

ZhongAn Online P&C Insurance Co's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (HK$249 Mil) to Dec. 2022 (HK$417 Mil) but then declined from Dec. 2022 (HK$417 Mil) to Dec. 2023 (HK$313 Mil).

ZhongAn Online P&C Insurance Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for ZhongAn Online P&C Insurance 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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ZhongAn Online P&C Insurance Co Long-Term Capital Lease Obligation Chart

ZhongAn Online P&C Insurance Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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443.28

377.63

248.69

417.44

313.37

ZhongAn Online P&C Insurance Co Semi-Annual Data
	Dec14	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													248.69	417.01	417.44	380.77	313.37

ZhongAn Online P&C Insurance Co (HKSE:06060) 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.

ZhongAn Online P&C Insurance Co Long-Term Capital Lease Obligation Related Terms

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ZhongAn Online P&C Insurance Co (HKSE:06060) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » ZhongAn Online P&C Insurance Co Ltd (HKSE:06060) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

ZZHGF:USA ZZHGY:USA 1ZO:Germany

Address

219 Yuanmingyuan Road, Shanghai, CHN

Website

https://www.zhongan.com

ZhongAn was founded by Ant Financial, Tencent, Ping An Insurance, and other well-known enterprises in 2013 and is headquartered in Shanghai. The company is the first internet-based insurance company in China. It provides online underwriting and claim services through the internet without any offline branches. ZhongAn was listed in September 2017 in Hong Kong. Besides the online insurance segment, the company operates technology and banking segments. Its insurance technology segment exports digital operating system, middle platforms, and industry models to licensed financial players both domestically and overseas. Its banking segment, through Hong Kong-based virtual bank ZA Bank, offers similar services as traditional offline banks but without an offline presence.

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