China XD Plastics Co Ltd (CXDC) [Rocket]

In millions, except per share items	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Modified Polyamide 66 PA66	427.0	316.6	286.5	260.1	219.1	192.4
Modified Polyamide 6 PA6	338.3	243.9	224.1	280.1	203.5	223.1
Plastic Alloy	245.3	324.7	363.3	401.7	350.6	400.3
Semi-finished goods	144.4
Other	293.3	389.6	416.5	259.8	226.0	294.9
Total revenues	1,448.2	1,274.8	1,290.4	1,201.7	999.2	1,110.7	1,050.8	599.8
Revenue growth [+]	13.6%	-1.2%	7.4%	20.3%	-10.0%	5.7%	75.2%	57.2%
Modified Polyamide 66 PA66	34.8%	10.5%	10.2%	18.7%	13.9%
Modified Polyamide 6 PA6	38.7%	8.8%	-20.0%	37.6%	-8.8%
Plastic Alloy	-24.5%	-10.6%	-9.5%	14.6%	-12.4%
Modified Polypropylene PP	-43.4%	-3.4%	29.4%	8.4%	-29.1%
Cost of goods sold	1,228.8	1,055.2	1,053.8	954.7	817.8	888.2	827.4	456.0
Gross profit	219.4	219.6	236.7	247.0	181.4	222.5	223.4	143.8
Gross margin	15.1%	17.2%	18.3%	20.6%	18.2%	20.0%	21.3%	24.0%
Selling, general and administrative [+]	36.8	47.1	41.7	31.3	25.3	21.3	16.5	10.3
Sales and marketing	1.5	10.1	3.2	1.4	1.5	0.7	0.2	0.3
General and administrative [+]	35.4	37.0	38.5	30.0	23.8	20.6	16.3	10.1
General and administrative expenses	35.4	37.0	38.5	30.0	23.8	20.6	16.3	10.1
Rent expense							1.0	0.7
Research and development	50.3	60.6	36.8	48.0	21.1	29.4	21.3	21.6
Other operating expenses	62.8
EBITDA [+]	128.8	158.3	201.2	201.9	162.6	194.6	207.0	122.6
EBITDA growth	-18.6%	-21.3%	-0.3%	24.2%	-16.5%	-6.0%	68.9%	49.5%
EBITDA margin	8.9%	12.4%	15.6%	16.8%	16.3%	17.5%	19.7%	20.4%
Depreciation and amortization	59.4	46.3	43.1	34.2	27.5	22.9	21.4	10.7
EBIT [+]	69.4	112.0	158.2	167.7	135.0	171.7	185.6	111.9
EBIT growth	-38.0%	-29.2%	-5.7%	24.1%	-21.4%	-7.5%	65.9%	45.6%
EBIT margin	4.8%	8.8%	12.3%	14.0%	13.5%	15.5%	17.7%	18.7%
Interest expense, net [+]	65.9	47.1	40.1	35.5	34.5	30.5	8.5	0.0
Interest expense	67.2	51.0	45.4	41.4	42.7	41.5	15.3	4.6
Interest income	1.4	4.0	5.3	5.8	8.2	11.0	6.8	4.6
Other income (expense), net [+]	13.5	11.1	4.1	-13.1	1.4	-2.2	3.4	3.5
Gain (loss) on debt retirement				-19.0
Gain (loss) on derivative instruments								0.0
Gain (loss) on foreign currency transactions	2.9	5.7	-6.5	2.0	-2.2	-1.9	2.5	0.6
Change in fair value of warrants						-1.9	-0.1	2.9
Other						-32.7	-5.1	3.5
Pre-tax income	17.1	76.0	122.1	119.0	102.0	139.0	180.5	115.4
Income taxes	14.0	7.7	90.5	17.4	18.2	18.3	46.7	29.5
Tax rate	82.1%	10.1%	74.1%	14.6%	17.9%	13.1%	25.9%	25.6%
Net income	3.1	68.3	31.6	101.6	83.7	120.8	133.8	85.9
Net margin	0.2%	5.4%	2.5%	8.5%	8.4%	10.9%	12.7%	14.3%

Basic EPS [+]	$0.06	$1.36	$0.64	$2.06	$1.70	$2.47	$2.80	$1.81
Growth	-95.9%	113.1%	-69.0%	20.9%	-31.2%	-11.7%	55.1%	41.1%
Diluted EPS [+]	$0.06	$1.36	$0.64	$2.06	$1.70	$2.47	$2.80	$1.81
Growth	-95.9%	113.1%	-69.0%	20.9%	-31.2%	-11.7%	55.1%	41.1%

Shares outstanding (basic) [+]	55.2	50.3	49.6	49.4	49.2	48.8	47.8	47.5
Growth	9.8%	1.4%	0.4%	0.4%	0.8%	2.2%	0.5%	0.6%
Shares outstanding (diluted) [+]	55.2	50.3	49.6	49.4	49.2	48.8	47.8	47.5
Growth	9.8%	1.4%	0.4%	0.4%	0.8%	2.2%	0.5%	0.6%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.