Hongchang International Co., Ltd financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Hongchang International Co., Ltd files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Revenue
3.18
0.19
0.16
0.22
0.1
0.08
2.68
2.87
Cost of revenue
2.79
0.07
0.08
0.12
0.03
0.03
2.61
2.69
Gross profit
0.39
0.12
0.08
0.1
0.07
0.05
0.07
0.18
Research and development
0.21
0.05
Selling and marketing
0.14
0.03
0
0
General and administrative
1.62
0.32
0.05
0.24
0.54
0.56
Operating expenses
1.98
0.41
0.05
0.25
0.62
0.38
0.23
0.24
0.54
0.56
Operating income
-1.59
-0.29
-0.05
-0.25
-0.54
-0.28
-0.16
-0.24
-0.47
-0.38
Interest expense
0
0
Interest income
0
0
Other non-operating income
-1.95
0.13
-0
-0
-0
-0
0
Pre-tax income
-0.05
-0.25
-0.54
-0.75
-0.16
-0.24
-0.44
-0.49
Income tax
-0.07
-0.02
Net income to minority interests
-0.05
-0.2
Net income
-3.54
-0.16
-0.05
-0.25
-0.49
-0.55
-0.16
-0.24
-0.38
-0.47
EBITDA
-1.59
-0.15
-0.38
-0.29
EPS, basic
-0.07
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
EPS, diluted
-0.07
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Shares, basic (weighted)
49.7
49.7
103
759
1,111
1,032
1,032
61.7
450
519
Shares, diluted (weighted)
49.7
49.7
103
759
1,111
1,032
1,032
61.7
450
519
Balance sheet
FY2016
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Cash and equivalents
0.18
0.18
0
0.04
0.1
0.01
0
0
0.9
0.24
Receivables
0.08
0.03
0
0.74
0.05
Inventory
0.02
0.42
0.5
0.01
Other current assets
0.07
0.05
0.02
1.14
0.94
Total current assets
0.4
0
0.06
0.65
0.06
0.04
0.08
3.96
8.13
Property, plant and equipment
0.01
0
0.02
Lease right-of-use assets
0.2
0.13
0.06
4.12
Intangible assets
0
Other non-current assets
0.71
4.13
Total assets
0.43
0
0.06
0.85
0.19
0.09
31.2
50.2
57.5
Accounts payable
0.04
0.01
0.08
0.02
0.02
25.3
0.65
Accrued liabilities
0.02
0.03
0.29
0.28
0
0.39
0.15
Deferred revenue
0.43
0.46
0.47
0.43
0
Short-term debt
0.24
Total current liabilities
0.27
0.05
0.3
1.45
1.76
1.9
25.3
1.06
6.69
Long-term debt
6.56
Lease liabilities
0.17
0.06
Total liabilities
0.27
0.05
0.3
1.62
1.82
1.9
31.7
9.73
18.7
Total debt
6.23
Paid-in capital
18.1
18.1
18.1
17.1
17.1
17.1
17.1
18.1
39.9
39.9
Retained earnings
-18.2
-18.4
-18.9
-19.5
-19.6
-0.43
-0.81
-1.29
Other comprehensive income
-18
-18.1
-18.2
0
0.01
-0.12
-0.18
0.02
0.88
-0.37
Shareholders' equity
-0.05
-0.24
-0.72
-1.4
-0.19
-0.42
40.5
38.8
Minority interests
-0.05
-0.23
-0.19
-0.22
0.01
Total equity
-1.23
-0.05
-0.24
-0.77
-1.62
-1.81
-0.42
40.5
38.8
Total liabilities and equity
0.43
0
0.06
0.85
0.19
0.09
31.2
50.2
57.5
Shares outstanding
49.7
49.7
32.5
1,141
1,032
1,032
1,032
416
519
519
Cash flow statement
FY2016
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Net income
-3.54
-0.16
-0.05
-0.25
-0.54
-0.75
-0.16
-0.27
-0.38
-0.47
Depreciation and amortization
0.01
0.09
0.09
0.09
Deferred income tax
-0.07
-0.02
Change in receivables
-1
-0.08
0.03
0
-0.74
0.68
Change in inventory
-0
-0
-0.42
-0.05
-0.01
0.01
Change in payables
-0.02
-0.21
0.01
0
0.09
-0.06
-0
0
0.65
-0.64
Cash from operations
-0.38
-0.31
-0.04
-0.27
-0.55
-0.02
-0.14
-0.23
0.75
-7.34
Capital expenditures
-40.6
-4.02
Acquisitions
-0.57
Cash from investing
0.18
-1.56
-41.7
-3.5
Debt repaid
-0
Cash from financing
-0.05
-0.05
0.04
0.3
0.6
0.04
0.16
1.78
40.9
10.2
Exchange rate effect
0.01
-0.1
-0.02
-0
0.88
-0.02
Net change in cash
-0.43
-0.18
0.04
0.06
-0.09
-0
0
0.89
-0.66
Free cash flow
-39.8
-11.4
Interest paid
0.32
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to December 31, 2025; growth uses fiscal years. Valuation uses the share price of $0.11 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
20.6%
Gross profit / revenue.
Operating margin
15.1%
Operating income / revenue.
EBITDA margin
19.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
15.1%
Pre-tax income / revenue.
Net margin
13.7%
Net income / revenue.
FCF margin
6.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
11.8%
Cash from operations / revenue.
Effective tax rate
9.0%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
6.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
4.1%
Net income / average total assets.
Return on invested capital (ROIC)
5.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue
5.5%
Capital expenditures / revenue.
D&A / revenue
3.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
7.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
209.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
77.3%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
161.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
40.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
17.8%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-1,078.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-4.2%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
14.4%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
750.0%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
132.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
15.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
-20.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
-14.1%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.85x
Current assets / current liabilities.
Quick ratio
0.66x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.06x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.17x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
10.8%
Total debt / total assets.
Liabilities / assets
33.7%
Total liabilities / total assets.
Net debt
$6.6M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
1.90x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Days inventory + days sales outstanding - days payables.
FCF conversion
46.0%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
46.4%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.00
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.04
Revenue / diluted weighted shares.
FCF per share
$0.00
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.00
Cash from operations / diluted weighted shares.
Book value per share
$0.08
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
22.1x
Market cap / net income. Only when net income is positive.
P/S
3.04x
Market cap / revenue.
P/B
1.31x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.31x
Market cap / tangible book value, when positive.
P/FCF
48.1x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
25.8x
Market cap / cash from operations, when positive.
EV/Sales
3.40x
Enterprise value / revenue.
EV/EBIT
22.5x
Enterprise value / operating income, when both are positive.
EV/EBITDA
17.9x
Enterprise value / EBITDA, when both are positive.
EV/FCF
53.8x
Enterprise value / free cash flow, when both are positive.
FCF yield
2.1%
Free cash flow / market cap.
Earnings yield
4.5%
Net income / market cap (the inverse of P/E).
What was Hongchang International Co., Ltd's revenue in fiscal 2024?
Hongchang International Co., Ltd reported revenue of $2.9M for fiscal 2024, 7.1% higher than the year before.
Was Hongchang International Co., Ltd profitable in fiscal 2024?
No. It reported a net loss of $472.4K.
How much free cash flow did Hongchang International Co., Ltd generate in fiscal 2024?
Cash from operations of $7.3M minus capital expenditures of $4.0M left free cash flow of -$11.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.