Beijing Capital Grand (HKSE:01329) Operating Income : HK$-85 Mil (TTM As of Dec. 2023)

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What is Beijing Capital Grand Operating Income?

Beijing Capital Grand's Operating Income for the six months ended in Dec. 2023 was HK$-133 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$-85 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Beijing Capital Grand's Operating Income for the six months ended in Dec. 2023 was HK$-133 Mil. Beijing Capital Grand's Revenue for the six months ended in Dec. 2023 was HK$1,639 Mil. Therefore, Beijing Capital Grand's Operating Margin % for the quarter that ended in Dec. 2023 was -8.09%.

Beijing Capital Grand's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Beijing Capital Grand's annualized ROC % for the quarter that ended in Dec. 2023 was -1.99%. Beijing Capital Grand's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 261.50%.

Beijing Capital Grand Operating Income Historical Data

The historical data trend for Beijing Capital Grand's Operating Income 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.

Beijing Capital Grand Operating Income Chart

Beijing Capital Grand Annual Data

Trend

Mar14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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387.09

-135.31

346.61

1.94

-85.28

Beijing Capital Grand Semi-Annual Data
	Mar14	Sep14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															150.79	51.55	-47.17	47.34	-132.62

Beijing Capital Grand Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$-85 Mil.

Beijing Capital Grand (HKSE:01329) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Beijing Capital Grand's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-265.23 * ( 1 - -30.88% )	/	( (17876.157	+	17010.265)	/ 2 )
=	-347.133024	/	17443.211
=	-1.99 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	23309.893	-	5018.032	-	( 1984.944	-	max(0, 7722.808	-	8138.512	+	1984.944	))
=	17876.157

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	19612.813	-	5570.73	-	( 1608.411	-	max(0, 7575.718	-	4607.536	+	1608.411	))
=	17010.265

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Beijing Capital Grand's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	495.828	/	( ( (185.222 + max(-351.391, 0))	+	(194.001 + max(-3012.459, 0)) )	/	2 )
=	495.828	/	( ( 185.222	+	194.001 )	/	2 )
=	495.828	/	189.6115
=	261.50 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(56.247	+	2989.866	+	2963.683)	-	(5018.032	+	0	+	1343.155)
=	-351.391

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(258.649	+	2344.255	+	259.364)	-	(5570.73	+	0	+	303.997)
=	-3012.459

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Beijing Capital Grand's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	-132.615	/	1639.331
	=	-8.09 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Beijing Capital Grand Operating Income Related Terms

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Beijing Capital Grand (HKSE:01329) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Beijing Capital Grand Ltd (HKSE:01329) » Definitions » Operating Income

Traded in Other Exchanges

N/A

Address

No. 8 North 3rd Ring East Road, West Area, 7th Floor, Jing An Centre, Chaoyang District, Beijing, CHN

Website

https://www.bcgrand.com

Beijing Capital Grand Ltd is a commercial property developer in China property market. It is engaged in the development of outlets-backed integrated property and commercial property development and operations. The company segments namely Property development, Investment property development and operation, Sale of merchandise inventories, and other segments. The segment of Investment property development and operation, which is the key revenue contributor, derives revenue from rental income.

Executives

Kkr & Co. Inc. (formerly Known As Kkr Aubergine Inc.)	2201 Interest of corporation controlled by you
Kkr China Growth Limited	2201 Interest of corporation controlled by you
Kkr Group Co. Inc. (formerly Known As Kkr & Co. Inc.)	2201 Interest of corporation controlled by you
Kkr Group Holdings Corp.	2201 Interest of corporation controlled by you
Kkr Group Holdings L.p. (formerly Known As Kkr Holdings L.p.)	2201 Interest of corporation controlled by you
Kkr Group Partnership L.p. (formerly Known As Kkr Fund Holdings L.p.)	2201 Interest of corporation controlled by you
Kkr Management Llp (formerly Known As Kkr Management Llc)	2201 Interest of corporation controlled by you
Kravis Henry Roberts	2201 Interest of corporation controlled by you
Roberts George R.	2201 Interest of corporation controlled by you
Kkr Associates China Growth L.p.	2201 Interest of corporation controlled by you
Kkr Cg Judo	2201 Interest of corporation controlled by you
Kkr Cg Judo Outlets	2101 Beneficial owner
Kkr China Growth Fund L.p.	2201 Interest of corporation controlled by you
Bei Jing Shou Du Chuang Ye Ji Tuan You Xian Gong Si	2201 Interest of corporation controlled by you
Beijing Capital Land Co., Ltd.	2201 Interest of corporation controlled by you

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