Chongqing Iron & Steel Co (SHSE:601005) Long-Term Capital Lease Obligation : ¥146 Mil (As of Mar. 2024)

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What is Chongqing Iron & Steel Co Long-Term Capital Lease Obligation?

Chongqing Iron & Steel Co's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was ¥146 Mil.

Chongqing Iron & Steel Co's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (¥177 Mil) to Dec. 2023 (¥183 Mil) but then declined from Dec. 2023 (¥183 Mil) to Mar. 2024 (¥146 Mil).

Chongqing Iron & Steel Co's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (¥408 Mil) to Dec. 2022 (¥278 Mil) and declined from Dec. 2022 (¥278 Mil) to Dec. 2023 (¥183 Mil).

Chongqing Iron & Steel Co Long-Term Capital Lease Obligation Historical Data

The historical data trend for Chongqing Iron & Steel 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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Chongqing Iron & Steel Co Long-Term Capital Lease Obligation Chart

Chongqing Iron & Steel Co Annual Data

Trend

Dec14

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Long-Term Capital Lease Obligation

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3,022.61

408.14

278.35

183.49

Chongqing Iron & Steel Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															244.96	211.17	176.99	183.49	145.90

Chongqing Iron & Steel Co (SHSE:601005) 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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Chongqing Iron & Steel Co (SHSE:601005) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Chongqing Iron & Steel Co Ltd (SHSE:601005) » Definitions » Long-Term Capital Lease Obligation

Traded in Other Exchanges

01053:Hong Kong

Address

No. 2 Jiangnan Avenue, Jiangnan Street, Changshou District, Chongqing, CHN, 401258

Website

https://www.cqgt.cn

Chongqing Iron & Steel Co Ltd is engaged in the production, processing, and sale of steel plates, steel sections, wire rods, bar materials, billets, and thin plates, and in the production and sale of coking and coal chemical products, pig iron & grain slag, steel slag, and steel scrap. Its products are applied in various industries, such as machinery, architecture, engineering, automobile, motorbike, shipbuilding, offshore oil, gas cylinder, boiler as well as oil and gas pipelines. The group's revenue and profit are mainly comprised of steel manufacturing and domestic sales.

Executives

Yao Xiao Hu	Director
Xia Tong	Director
Yu Hong	Director
Lv Feng	senior management
Zhang Shuo Gong	Director
Li Ren Sheng	senior management
Li Yong Xiang	Director
Meng Xiang Yun	Director
Xiao Yu Xin	Supervisors
Wang Bu Lin	senior management
Zhang Li Quan	Director
Ceng Jing	senior management
Tu De Ling	Director
Zhou Ya Ping	Supervisors
Zhao Wei	Supervisors

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