2023 Q4 Form 20-F Financial Statement

#000110465924052917 Filed on April 26, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $569.8M $2.268B
YoY Change -5.8% -5.96%
Cost Of Revenue $368.4M $1.455B
YoY Change -6.17% -6.7%
Gross Profit $201.5M $813.0M
YoY Change -5.11% -4.59%
Gross Profit Margin 35.36% 35.85%
Selling, General & Admin $126.8M $492.2M
YoY Change -11.11% -9.22%
% of Gross Profit 62.96% 60.54%
Research & Development $72.58M $295.5M
YoY Change -1.42% 12.87%
% of Gross Profit 36.02% 36.35%
Depreciation & Amortization $46.58M
YoY Change -44.15%
% of Gross Profit 5.73%
Operating Expenses $196.7M $778.0M
YoY Change -7.08% -1.08%
Operating Profit $4.796M $34.99M
YoY Change 627.77% -46.63%
Interest Expense $43.14M $259.2M
YoY Change 40.54% -50.21%
% of Operating Profit 899.4% 740.63%
Other Income/Expense, Net
YoY Change
Pretax Income $47.93M $288.0M
YoY Change 172.21% -54.62%
Income Tax $2.315M $18.86M
% Of Pretax Income 4.83% 6.55%
Net Earnings $45.49M $347.4M
YoY Change -111.97% 190.76%
Net Earnings / Revenue 7.98% 15.32%
Basic Earnings Per Share $0.27
Diluted Earnings Per Share $0.04 $0.29
COMMON SHARES
Basic Shares Outstanding 1.309B
Diluted Shares Outstanding 1.463B

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.309B $3.309B
YoY Change -15.96% -15.96%
Cash & Equivalents $1.064B $1.064B
Short-Term Investments $2.245B $2.245B
Other Short-Term Assets $632.0M $632.0M
YoY Change 7.61% 7.61%
Inventory
Prepaid Expenses
Receivables $130.7M $130.7M
Other Receivables $810.0K $810.0K
Total Short-Term Assets $4.073B $4.073B
YoY Change -12.32% -12.32%
LONG-TERM ASSETS
Property, Plant & Equipment $420.9M $420.9M
YoY Change 11.81% 11.81%
Goodwill $2.649B
YoY Change 0.0%
Intangibles $333.7M
YoY Change -16.22%
Long-Term Investments $674.5M $674.5M
YoY Change 2.14% 2.14%
Other Assets $332.8M $332.8M
YoY Change -2.85% -2.85%
Total Long-Term Assets $4.411B $4.411B
YoY Change -0.36% -0.36%
TOTAL ASSETS
Total Short-Term Assets $4.073B $4.073B
Total Long-Term Assets $4.411B $4.411B
Total Assets $8.484B $8.484B
YoY Change -6.48% -6.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.75M $66.75M
YoY Change 19.21% 19.21%
Accrued Expenses $2.394B $2.394B
YoY Change 0.89% 0.89%
Deferred Revenue $73.67M
YoY Change -14.35%
Short-Term Debt $52.12M $52.12M
YoY Change 39.84% 39.84%
Long-Term Debt Due $405.6M $405.6M
YoY Change -6.78% -6.78%
Total Short-Term Liabilities $3.086B $3.086B
YoY Change 0.48% 0.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $31.35M $31.35M
YoY Change -0.04% -0.04%
Total Long-Term Liabilities $31.35M $31.35M
YoY Change -92.76% -92.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.086B $3.086B
Total Long-Term Liabilities $31.35M $31.35M
Total Liabilities $3.305B $3.305B
YoY Change -13.07% -13.07%
SHAREHOLDERS EQUITY
Retained Earnings $2.947B
YoY Change 9.76%
Common Stock $3.283B
YoY Change 0.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $913.9M
YoY Change 39.5%
Treasury Stock Shares
Shareholders Equity $5.179B $5.179B
YoY Change
Total Liabilities & Shareholders Equity $8.484B $8.484B
YoY Change -6.48% -6.48%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $45.49M $347.4M
YoY Change -111.97% 190.76%
Depreciation, Depletion And Amortization $46.58M
YoY Change -44.15%
Cash From Operating Activities $295.6M
YoY Change -6.61%
INVESTING ACTIVITIES
Capital Expenditures $81.57M
YoY Change 18.18%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$576.0K
YoY Change -106.0%
Cash From Investing Activities $420.4M
YoY Change -182.38%
FINANCING ACTIVITIES
Cash Dividend Paid $84.20M
YoY Change -42.3%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -841.7M
YoY Change 161.49%
NET CHANGE
Cash From Operating Activities 295.6M
Cash From Investing Activities 420.4M
Cash From Financing Activities -841.7M
Net Change In Cash -125.8M
YoY Change -75.61%
FREE CASH FLOW
Cash From Operating Activities $295.6M
Capital Expenditures $81.57M
Free Cash Flow $214.0M
YoY Change -13.52%

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CY2022 yy Increase Decrease In Accounts Payable Other Than Increase Decrease In Amount Due To Related Parties
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CY2023 yy Increase Decrease In Accounts Payable Other Than Increase Decrease In Amount Due To Related Parties
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2023 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0
CY2021 yy Repayment And Payments On Behalf Of Related Party
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-4537000
CY2022 yy Repayment And Payments On Behalf Of Related Party
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CY2023 yy Repayment And Payments On Behalf Of Related Party
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CY2021 yy Payments To Fund Loans To Related Parties
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34203000
CY2022 yy Payments To Fund Loans To Related Parties
PaymentsToFundLoansToRelatedParties
28062000
CY2023 yy Payments To Fund Loans To Related Parties
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0
CY2021 yy Payments For Loans To Employee And Third Parties
PaymentsForLoansToEmployeeAndThirdParties
9526000
CY2022 yy Payments For Loans To Employee And Third Parties
PaymentsForLoansToEmployeeAndThirdParties
1025000
CY2023 yy Payments For Loans To Employee And Third Parties
PaymentsForLoansToEmployeeAndThirdParties
650000
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ProceedsFromRepaymentOfLoansFromEmployeesAndThirdParties
2225000
CY2022 yy Proceeds From Repayment Of Loans From Employees And Third Parties
ProceedsFromRepaymentOfLoansFromEmployeesAndThirdParties
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CY2023 yy Proceeds From Repayment Of Loans From Employees And Third Parties
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ProceedsFromCollectionOfFinanceReceivables
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CY2022 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
174000
CY2023 us-gaap Proceeds From Collection Of Finance Receivables
ProceedsFromCollectionOfFinanceReceivables
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
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7508000
CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2022 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
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CY2023 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
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CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2021 us-gaap Proceeds From Minority Shareholders
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CY2022 us-gaap Proceeds From Minority Shareholders
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CY2023 us-gaap Proceeds From Minority Shareholders
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47000
CY2022 yy Dividend Declared By Consolidated Subsidiary To Noncontrolling Interests
DividendDeclaredByConsolidatedSubsidiaryToNoncontrollingInterests
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CY2023 yy Dividend Declared By Consolidated Subsidiary To Noncontrolling Interests
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CY2021 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
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CY2022 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
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CY2023 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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CY2021 yy Purchase Of Capped Call Option In Relation To Repurchase Of Common Shares
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0
CY2022 yy Purchase Of Capped Call Option In Relation To Repurchase Of Common Shares
PurchaseOfCappedCallOptionInRelationToRepurchaseOfCommonShares
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CY2023 yy Purchase Of Capped Call Option In Relation To Repurchase Of Common Shares
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RepaymentsOfBankDebt
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CY2021 yy Cash Paid On Extinguishment Of Convertible Bonds
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CY2022 yy Cash Paid On Extinguishment Of Convertible Bonds
CashPaidOnExtinguishmentOfConvertibleBonds
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Fair Value Of Assets Acquired
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CY2022 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
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CY2023Q4 yy Variable Interest Entity Consolidated Registered Capital And Foreign Statutory Reserves
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CY2023 us-gaap Use Of Estimates
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<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><b style="font-weight:bold;">(c)</b></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><b style="font-weight:bold;">Use of estimates</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 18pt;">The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, mezzanine equity and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period in the consolidated financial statements and accompanying notes. Actual results could differ materially from such estimates. The Company believes that the assessment of the revenue recognition for contracts with multiple performance obligations, income taxes, expected credit loss of receivables, purchase price allocation in a business combination, estimated useful lives of intangible assets, impairment assessment of goodwill, long-lived assets and intangible assets, and subsequent adjustments due to significant observable price change for the equity investments without readily determinable fair values and not accounted for by the equity method, represent critical accounting policies that reflect the more significant judgments and estimates used in the preparation of its consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 18pt;">Management bases the estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from these estimates.</p>
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CY2022 us-gaap Impairment Of Intangible Assets Finitelived
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CY2023 us-gaap Impairment Of Intangible Assets Finitelived
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CY2021 us-gaap Goodwill Impairment Loss
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0
CY2023 us-gaap Goodwill Impairment Loss
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69717000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P2Y10M9D
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2023Q4 yy Lessee Operating Lease Liability Payments Due Year Four And Thereafter
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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1990000
CY2023Q4 us-gaap Operating Lease Liability
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30810000
CY2023Q4 yy Appropriation Of After Tax Profit To Statutory Surplus Fund Required Percentage Minimum
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0.10
CY2023Q4 yy Surplus Fund Threshold For Mandatory Transfer Percentage
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0.50
CY2023 yy Foreign Ownership Percentage In Internet Based Businesses Maximum
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0.50
CY2021 us-gaap Business Acquisitions Pro Forma Revenue
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2697395000
CY2022 us-gaap Business Acquisitions Pro Forma Revenue
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CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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