Pingtan Marine Enterprise Ltd. (PME) financial statements (2022 and earlier)

Company profile

Business Address 18-19/F, ZHONGSHAN BUILDING A,
FUZHOU, 350001
State of Incorp.
Fiscal Year End December 31
SIC 09 - Fishing, hunting, and trapping (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 69210,0921,9672,006820
Cash and cash equivalents 69210,0921,9672,006820
Restricted cash and investments 9,913    
Receivables 33,84822,3657,00613,28643,158
Inventory, net of allowances, customer advances and progress billings 67,61130,5285,8403,5608,811
Inventory 67,61130,5285,8403,5608,811
Prepaid expense 1711,3546451118
Other undisclosed current assets 2,015  1,8218,044
Total current assets: 114,24964,33915,45820,78360,841
Noncurrent Assets
Finance lease, right-of-use asset 64438
Property, plant and equipment 250,155259,378199,571135,042122,197
Long-term investments and receivables 29,69027,92328,87333,73531,521
Long-term investments 29,69027,92328,87333,73531,521
Prepaid expense 66,08349,040 11,57711,914
Other undisclosed noncurrent assets 3,2183,0103,060  
Total noncurrent assets: 349,211339,790231,504180,355165,631
TOTAL ASSETS: 463,460404,129246,962201,138226,472
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 30,69518,29536,4399,0335,136
Accounts payable 18,7937,95230,6424,301917
Employee-related liabilities 11,44010,0035,7344,6674,127
Interest and dividends payable 462340626592
Debt 92,40267,53313,57220,57038,853
Due to related parties 1816819,5554,34943
Other undisclosed current liabilities 10,2482,7923,5072,46420,888
Total current liabilities: 133,36488,78873,07336,41664,921
Noncurrent Liabilities
Long-term debt and lease obligation 245,116160,26322,32917,21721,839
Long-term debt, excluding current maturities 245,116160,23022,32917,21721,839
Operating lease, liability  32
Total noncurrent liabilities: 245,116160,26322,32917,21721,839
Total liabilities: 378,480249,05195,40253,63386,760
Stockholders' equity
Stockholders' equity attributable to parent, including: 69,713135,716132,667129,357125,038
Common stock 7979797979
Additional paid in capital 82,04681,68381,68381,683111,008
Accumulated other comprehensive loss (9,569)(16,081)(13,448)(5,732)(12,879)
Retained earnings (accumulated deficit) (18,595)54,28649,59340,34917,438
Other undisclosed stockholders' equity attributable to parent 15,75215,74914,76012,9789,392
Stockholders' equity attributable to noncontrolling interest 15,26619,36218,89218,14814,674
Total stockholders' equity: 84,980155,078151,559147,505139,712
TOTAL LIABILITIES AND EQUITY: 463,460404,129246,962201,138226,472

Income statement (P&L) ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 87,24089,62264,25663,21020,541
Cost of revenue (89,662)(64,397)(33,240)(41,127)(29,329)
Gross profit: (2,421)25,22631,01722,083(8,788)
Operating expenses (66,061)(12,057)(15,163)11,171(5,205)
Operating income (loss): (68,483)13,16815,85333,254(13,993)
Nonoperating expense (9,136)(6,788)(1,040)(734)(683)
Investment income, nonoperating 3,746694415071,932
Foreign currency transaction gain (loss), before tax 608(298)(158)1,196(1,543)
Interest and debt expense (13,433)87(1,211)(2,403)(1,972)
Income (loss) from continuing operations before equity method investments, income taxes: (91,051)6,46713,60230,117(16,649)
Other undisclosed income (loss) from continuing operations before income taxes 13,433(87)1,2112,4031,972
Income (loss) from continuing operations before income taxes: (77,619)6,38014,81332,520(14,676)
Income tax expense     (1)
Other undisclosed income from continuing operations 94,806    
Income (loss) before gain (loss) on sale of properties: 17,1876,38014,81332,520(14,677)
Other undisclosed net loss (94,806)    
Net income (loss): (77,619)6,38014,81332,520(14,677)
Net income (loss) attributable to noncontrolling interest 4,740(698)(1,415)(2,860)960
Net income (loss) available to common stockholders, diluted: (72,878)5,68213,39729,660(13,718)

Comprehensive Income ($ in thousands)

9/30/2021
TTM
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): (77,619)6,38014,81332,520(14,677)
Other undisclosed comprehensive income (loss) 7,157(2,861)(8,387)7,760(9,288)
Comprehensive income (loss): (70,462)3,5196,42640,281(23,965)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest 4,096(470)(744)(3,474)1,695
Comprehensive income (loss), net of tax, attributable to parent: (66,366)3,0495,68136,807(22,270)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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