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Hi,
anyone concern with the increase of receivables every quarter?
Q1 792mil
Q2 996mil
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31-07-2017, 11:33 PM
(This post was last modified: 31-07-2017, 11:38 PM by vingaard.)
If you look at Q3 2016, receivables was also around this level.
Further, if you analyse the quarterly results, you will see that the amount of payables closely match the amount of receivables.
My guess is that the receivables and payables represent the size of their open positions in oil trading. If I'm wrong, someone please correct me.
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Proposed Disposal of Associated Company - China Aviation Oil Xinyuan Petrochemicals Co., Ltd
China Aviation Oil (Singapore) Corporation Ltd announced it's intention to dispose its entire 39% equity in China Aviation Oil Xinyuan Petrochemicals Co., Ltd.
As a subsidiary of China National Aviation Fuel Group Limited, a state-owned enterprise of the People's Republic of China, the Proposed Disposal will be made by way of a listing-for-sale through China Beijing Equity Exchange which is an approved equity exchange, in accordance with the relevant laws and regulations of the People's Republic of China concerning the disposal of State-owned assets.
An announcement in relation to the Proposed Disposal will be made by the Company as soon as practicable after the completion of the Listing-for-Sale.
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Seems like there hasn't been much discussion on this company in a while.
In recent years, the advent of Covid has resulted in a crash in profitability of China Aviation Oil's crown jewel, its associate called Shanghai Pudong Internation Airport Aviation Fuel Supply Company Ltd. Even with the pandemic, the company has stayed profitable over the years and amassed a huge cash pile of US$534 million as of Jun 2023. The article places in focus the recovery in travel that would prime SPIA for a recovery towards the impressive profitability displayed prior to the pandemic, and that increases the potential for rerating of CAO's target price by various analysts.
https://www.thesquirrelsdrey.com/post/ch...r-take-off
Please do your own due diligence. Any reliance on my posts is at your own risk.