Tonking New Energy Group Holdings (HKSE:08326) Receivables Turnover : 0.46 (As of Sep. 2023)

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What is Tonking New Energy Group Holdings Receivables Turnover?

The Receivables Turnover ratio measures the number of times a company collects its average accounts receivable balance. It is calculated as Revenue divided by average Accounts Receivable. An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. Tonking New Energy Group Holdings's Revenue for the three months ended in Sep. 2023 was HK$92.3 Mil. Tonking New Energy Group Holdings's average Accounts Receivable for the three months ended in Sep. 2023 was HK$200.4 Mil. Hence, Tonking New Energy Group Holdings's Receivables Turnover for the three months ended in Sep. 2023 was 0.46.

Tonking New Energy Group Holdings Receivables Turnover Historical Data

The historical data trend for Tonking New Energy Group Holdings's Receivables Turnover 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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Tonking New Energy Group Holdings Receivables Turnover Chart

Tonking New Energy Group Holdings Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Receivables Turnover

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2.65

2.30

1.49

1.35

3.85

Tonking New Energy Group Holdings Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Receivables Turnover	Get a 7-Day Free Trial															0.46	1.18	1.45	1.08	0.46

Competitive Comparison of Tonking New Energy Group Holdings's Receivables Turnover

For the Utilities - Renewable subindustry, Tonking New Energy Group Holdings's Receivables Turnover, along with its competitors' market caps and Receivables Turnover data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Tonking New Energy Group Holdings's Receivables Turnover Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Tonking New Energy Group Holdings's Receivables Turnover distribution charts can be found below:

* The bar in red indicates where Tonking New Energy Group Holdings's Receivables Turnover falls into.

Tonking New Energy Group Holdings Receivables Turnover Calculation

Receivables Turnover measures the number of times a company collects its average accounts receivable balance.

Tonking New Energy Group Holdings's Receivables Turnover for the fiscal year that ended in Mar. 2023 is calculated as

	Receivables Turnover (A: Mar. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (A: Mar. 2023 )	/ (	(Accounts Receivable (A: Mar. 2022 )	+	Accounts Receivable (A: Mar. 2023 ))	/	count )
=	688.965	/ (	(190.734	+	166.826)	/	2 )
=	688.965	/	178.78
=	3.85

Tonking New Energy Group Holdings's Receivables Turnover for the quarter that ended in Sep. 2023 is calculated as

	Receivables Turnover (Q: Sep. 2023 )
=	Revenue	/	Average Total Inventories
=	Revenue (Q: Sep. 2023 )	/ (	(Accounts Receivable (Q: Jun. 2023 )	+	Accounts Receivable (Q: Sep. 2023 ))	/	count )
=	92.32	/ (	(0	+	200.359)	/	1 )
=	92.32	/	200.359
=	0.46

Tonking New Energy Group Holdings (HKSE:08326) Receivables Turnover Explanation

An efficient company has a higher accounts receivable turnover ratio while an inefficient company has a lower ratio. This metric is commonly used to compare companies within the same industry to check whether they are on par with their competitors.

Tonking New Energy Group Holdings Receivables Turnover Related Terms

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Tonking New Energy Group Holdings (HKSE:08326) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Tonking New Energy Group Holdings Ltd (HKSE:08326) » Definitions » Receivables Turnover

Traded in Other Exchanges

N/A

Address

67 Mody Road, Room 701, 7th Floor, Peninsula Centre, Tsimshatsui, Kowloon, Hong Kong, HKG

Website

http://www.tonkinggroup.com.hk

Tonking New Energy Group Holdings Ltd is an investment holding company. The Company's principal activity is the renewable energy business in the People's Republic of China. Its operating segments includes Sales of the patented photovoltaic tracking mounting bracket systems; Provision of one-stop value added solution for photovoltaic power stations and Sales of electricity. The company generates maximum revenue from the Sales of the patented photovoltaic tracking mounting bracket systems segment. The business of the group is primarily operated through Hong Kong and China of which China accounts for a larger share of the revenue.

Executives

Wu Jiannong	2201 Interest of corporation controlled by you
Rise Triumph Limited	2101 Beneficial owner
Xu Jun	2101 Beneficial owner
Victory Stand International Limited	2101 Beneficial owner
Wu Kai Char	2201 Interest of corporation controlled by you

Tonking New Energy Group Holdings (HKSE:08326) Headlines

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