Hangzhou First PV Material Co Ltd (603806) — Cash Flow Quality Index

Latest as of September 2025: 4.80x

Hangzhou First PV Material Co Ltd (603806) has a Cash Flow Quality Index of 4.80x as of September 2025. Operating cash flow of CN¥921.00 Million exceeds net income of CN¥191.85 Million, indicating high earnings quality where cash backs reported profits. Explore cash flow to debt ratio of Hangzhou First PV Material Co Ltd to assess how comfortably operating cash covers total debt obligations.

Cash Flow Quality Index

4.80x
Operating CF / Net Income

Operating Cash Flow

CN¥921.00 Million
CNY

Net Income

CN¥191.85 Million
CNY

Data as of

Sep 2025
Most recent filing

Hangzhou First PV Material Co Ltd Cash Flow Quality Index (2009–2024)

Historical Cash Flow Quality Index for Hangzhou First PV Material Co Ltd across 16 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see 603806 cash flow conversion.

Annual Cash Flow Quality Index for Hangzhou First PV Material Co Ltd (2009–2024)

Year-by-year earnings quality comparison for Hangzhou First PV Material Co Ltd.

Year Quality Index Operating CF (CNY) Net Income YoY Change
2024 3.40x CN¥4.39 Billion CN¥1.29 Billion ▲ +37472.0%
2023 -0.01x CN¥-16.84 Million CN¥1.85 Billion ▼ -155.2%
2022 0.02x CN¥26.04 Million CN¥1.58 Billion ▲ +124.6%
2021 -0.07x CN¥-147.56 Million CN¥2.20 Billion ▼ -138.6%
2020 0.17x CN¥272.34 Million CN¥1.57 Billion ▼ -61.8%
2019 0.46x CN¥434.94 Million CN¥955.04 Million ▲ +101.4%
2018 0.23x CN¥169.57 Million CN¥750.06 Million ▼ -45.5%
2017 0.42x CN¥242.96 Million CN¥585.20 Million ▲ +19.3%
2016 0.35x CN¥295.09 Million CN¥847.76 Million ▼ -45.8%
2015 0.64x CN¥415.95 Million CN¥647.29 Million ▲ +178.0%
2014 0.23x CN¥99.87 Million CN¥432.09 Million ▼ -66.2%
2013 0.68x CN¥406.97 Million CN¥595.55 Million ▲ +8.1%
2012 0.63x CN¥317.51 Million CN¥502.48 Million ▲ +41.5%
2011 0.45x CN¥272.91 Million CN¥611.06 Million ▼ -8.0%
2010 0.49x CN¥267.92 Million CN¥551.68 Million ▲ +40.8%
2009 0.34x CN¥42.67 Million CN¥123.69 Million —
Cash Flow Quality Index = Operating Cash Flow / Net Income. Ratios above 1.0x indicate cash-backed earnings.