China New Economy Fund (HKSE:00080) ROCE % : -101.21% (As of Dec. 2023)

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What is China New Economy Fund ROCE %?

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. China New Economy Fund's annualized ROCE % for the quarter that ended in Dec. 2023 was -101.21%.

China New Economy Fund ROCE % Historical Data

The historical data trend for China New Economy Fund's ROCE % 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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China New Economy Fund ROCE % Chart

China New Economy Fund Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

ROCE %

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-48.79

-46.40

-5.25

-41.02

-44.96

China New Economy Fund Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
ROCE %	Get a 7-Day Free Trial															-31.98	-14.53	-51.93	12.21	-101.21

China New Economy Fund ROCE % Calculation

China New Economy Fund's annualized ROCE % for the fiscal year that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT	/	( (Capital Employed	+	Capital Employed)	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(A: Dec. 2023 )		(A: Dec. 2022 )		(A: Dec. 2023 )
	=	-52.255	/	( ( (149.407 - 7.002)	+	(95.243 - 5.207) )	/ 2 )
	=	-52.255	/	( (142.405	+	90.036)	/ 2 )
	=	-52.255	/	116.2205
	=	-44.96 %

China New Economy Fund's ROCE % of for the quarter that ended in Dec. 2023 is calculated as:

ROCE %	=	EBIT ⁽¹⁾	/	( (Capital Employed	+	Capital Employed)	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	EBIT	/	( ( (Total Assets - Total Current Liabilities)	+	(Total Assets - Total Current Liabilities) )	/ count )
		(Q: Dec. 2023 )		(Q: Jun. 2023 )		(Q: Dec. 2023 )
	=	-122.476	/	( ( (154.983 - 3.004)	+	(95.243 - 5.207) )	/ 2 )
	=	-122.476	/	( ( 151.979	+	90.036 )	/ 2 )
	=	-122.476	/	121.0075
	=	-101.21 %

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

China New Economy Fund (HKSE:00080) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

China New Economy Fund ROCE % Related Terms

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China New Economy Fund (HKSE:00080) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » China New Economy Fund Ltd (HKSE:00080) » Definitions » ROCE %

Comparable Companies

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N/A

Address

50 Wing Lok Street, 22 Floor, CS Tower, Sheung Wan, Hong Kong, HKG

Website

http://www.chinaneweconomyfund.com

China New Economy Fund Ltd is a Hong Kong-based company principally engaged in investment. The principal investment objective of the Company is to achieve long-term capital appreciation through investing in private or listed enterprises in China, Hong Kong, Macau, and Taiwan. The Company operates through two segments. The Listed Securities segment is engaged in investment in listed securities. The Unlisted Securities segment is engaged in investment in private equity funds and private equities. The investment manager of the Company is China Everbright Securities (HK) Limited.

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