MGI Tech Co (SHSE:688114) Long-Term Capital Lease Obligation : ¥50 Mil (As of Mar. 2024)

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What is MGI Tech Co Long-Term Capital Lease Obligation?

MGI Tech Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥50 Mil.

MGI Tech Co's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (¥71 Mil) to Dec. 2023 (¥60 Mil) and declined from Dec. 2023 (¥60 Mil) to Mar. 2024 (¥50 Mil).

MGI Tech Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (¥92 Mil) to Dec. 2022 (¥78 Mil) and declined from Dec. 2022 (¥78 Mil) to Dec. 2023 (¥60 Mil).

MGI Tech Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for MGI Tech 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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MGI Tech Co Long-Term Capital Lease Obligation Chart

MGI Tech Co Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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102.22

92.49

77.69

60.14

MGI Tech Co Quarterly Data
	Dec17	Dec18	Dec19	Jun20	Sep20	Dec20	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial													67.33	69.07	71.46	60.14	50.25

MGI Tech Co (SHSE:688114) 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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MGI Tech Co (SHSE:688114) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » MGI Tech Co Ltd (SHSE:688114) » Definitions » Long-Term Capital Lease Obligation

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Address

Beishan Industrial Zone, 2nd Floor, Comprehensive Building and Building 11, Yantian District, Guangdong Province, Shenzhen, CHN, 518083

Website

http://www.mgi-tech.com

MGI Tech Co Ltd is a producer of clinical high-throughput gene sequencers, and its multi-omics platforms include genetic sequencing, medical imaging, and laboratory automation. It provides real-time, panoramic, and full-life-cycle equipment and systems for precision medicine, precision agriculture, precision healthcare and other relevant industries.

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