Bus Online Co Ltd (002188) - Net Assets

Latest as of March 2026: CN¥360.84 Million CNY ≈ $52.80 Million USD

Based on the latest financial reports, Bus Online Co Ltd (002188) has net assets worth CN¥360.84 Million CNY (≈ $52.80 Million USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥584.48 Million ≈ $85.53 Million USD) and total liabilities (CN¥223.64 Million ≈ $32.73 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore how large is Bus Online Co Ltd's balance sheet for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥360.84 Million
% of Total Assets	61.74%
Annual Growth Rate	8.22%
5-Year Change	573.89%
10-Year Change	-83.05%
Growth Volatility	1301.14

Bus Online Co Ltd - Net Assets Trend (2004–2025)

This chart illustrates how Bus Online Co Ltd's net assets have evolved over time, based on quarterly financial data. Check tangible net worth ratio of Bus Online Co Ltd to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Bus Online Co Ltd (2004–2025)

The table below shows the annual net assets of Bus Online Co Ltd from 2004 to 2025. For live valuation and market cap data, see Bus Online Co Ltd stock valuation.

Year	Net Assets	Change
2025-12-31	CN¥354.50 Million ≈ $51.87 Million	+17.33%
2024-12-31	CN¥302.15 Million ≈ $44.21 Million	+128.24%
2023-12-31	CN¥132.39 Million ≈ $19.37 Million	+17.82%
2022-12-31	CN¥112.36 Million ≈ $16.44 Million	+113.60%
2021-12-31	CN¥52.61 Million ≈ $7.70 Million	+126.36%
2020-12-31	CN¥-199.53 Million ≈ $-29.20 Million	-1698.70%
2019-12-31	CN¥12.48 Million ≈ $1.83 Million	+101.98%
2018-12-31	CN¥-630.04 Million ≈ $-92.19 Million	-5565.02%
2017-12-31	CN¥11.53 Million ≈ $1.69 Million	-99.45%
2016-12-31	CN¥2.09 Billion ≈ $306.11 Million	+4.67%
2015-12-31	CN¥2.00 Billion ≈ $292.44 Million	+560.41%
2014-12-31	CN¥302.61 Million ≈ $44.28 Million	-6.57%
2013-12-31	CN¥323.90 Million ≈ $47.40 Million	+1.05%
2012-12-31	CN¥320.55 Million ≈ $46.91 Million	-4.61%
2011-12-31	CN¥336.05 Million ≈ $49.17 Million	-1.05%
2010-12-31	CN¥339.60 Million ≈ $49.69 Million	-4.39%
2009-12-31	CN¥355.18 Million ≈ $51.97 Million	+8.37%
2008-12-31	CN¥327.74 Million ≈ $47.96 Million	+1.72%
2007-12-31	CN¥322.20 Million ≈ $47.15 Million	+182.84%
2006-12-31	CN¥113.92 Million ≈ $16.67 Million	+37.15%
2005-12-31	CN¥83.06 Million ≈ $12.15 Million	+23.08%
2004-12-31	CN¥67.49 Million ≈ $9.88 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Bus Online Co Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 6812.2% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Other Components	CN¥2.22 Billion	626.25%
Total Equity	CN¥354.31 Million	100.00%

Bus Online Co Ltd Competitors by Market Cap

The table below lists competitors of Bus Online Co Ltd ranked by their market capitalization.

Company	Market Cap
SILENCE THERAP. SP.ADR/1 F:XRP2	$245.62 Million
Tudor Gold Corp V:TUD	$245.65 Million
888 Holdings plc F:C8V	$245.77 Million
Anhui Fuhuang Steel Structure Co Ltd SHE:002743	$245.86 Million
Teixeira Duarte LS:TDSA	$245.51 Million
Atha Energy Corp. V:SASK	$245.49 Million
Shanghai Xintonglian Packaging Co Ltd SHG:603022	$245.25 Million
White Gold Corp V:WGO	$245.20 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Bus Online Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 301,868,314 to 354,308,864, a change of 52,440,550 (17.4%).
Net income of 32,078,555 contributed positively to equity growth.
Other comprehensive income decreased equity by 9,283,044.
Other factors increased equity by 29,645,039.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥32.08 Million	+9.05%
Other Comprehensive Income	CN¥-9.28 Million	-2.62%
Other Changes	CN¥29.65 Million	+8.37%
Total Change	CN¥-	17.37%

Book Value vs Market Value Analysis

This analysis compares Bus Online Co Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 4.74x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 25.19x to 4.74x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2004-12-31	CN¥0.20	CN¥5.13	x
2005-12-31	CN¥0.25	CN¥5.13	x
2006-12-31	CN¥0.88	CN¥5.13	x
2007-12-31	CN¥2.58	CN¥5.13	x
2008-12-31	CN¥1.98	CN¥5.13	x
2009-12-31	CN¥2.09	CN¥5.13	x
2010-12-31	CN¥2.13	CN¥5.13	x
2011-12-31	CN¥2.94	CN¥5.13	x
2012-12-31	CN¥2.16	CN¥5.13	x
2013-12-31	CN¥2.04	CN¥5.13	x
2014-12-31	CN¥1.97	CN¥5.13	x
2015-12-31	CN¥11.03	CN¥5.13	x
2016-12-31	CN¥6.92	CN¥5.13	x
2017-12-31	CN¥0.04	CN¥5.13	x
2018-12-31	CN¥-2.13	CN¥5.13	x
2019-12-31	CN¥0.04	CN¥5.13	x
2020-12-31	CN¥-0.38	CN¥5.13	x
2021-12-31	CN¥0.18	CN¥5.13	x
2022-12-31	CN¥0.39	CN¥5.13	x
2023-12-31	CN¥0.46	CN¥5.13	x
2024-12-31	CN¥0.85	CN¥5.13	x
2025-12-31	CN¥1.08	CN¥5.13	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Bus Online Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 9.05%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.98%
• Asset Turnover: 0.66x
• Equity Multiplier: 1.72x
Recent ROE (9.05%) is above the historical average (-667.98%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	27.07%	9.01%	0.92x	3.26x	CN¥10.17 Million
2005	26.64%	10.41%	0.83x	3.10x	CN¥12.38 Million
2006	27.31%	9.70%	1.00x	2.82x	CN¥17.78 Million
2007	7.76%	8.46%	0.60x	1.53x	CN¥-6.95 Million
2008	4.26%	5.55%	0.51x	1.52x	CN¥-17.81 Million
2009	5.09%	5.97%	0.55x	1.54x	CN¥-16.12 Million
2010	1.41%	1.24%	0.79x	1.44x	CN¥-27.60 Million
2011	0.63%	0.60%	0.82x	1.28x	CN¥-30.18 Million
2012	-2.78%	-3.91%	0.61x	1.17x	CN¥-40.05 Million
2013	2.45%	4.90%	0.45x	1.11x	CN¥-24.25 Million
2014	-6.61%	-17.20%	0.35x	1.11x	CN¥-50.03 Million
2015	0.54%	5.95%	0.08x	1.12x	CN¥-188.86 Million
2016	4.48%	14.23%	0.28x	1.13x	CN¥-115.49 Million
2017	-19297.79%	-344.25%	0.82x	68.09x	CN¥-2.03 Billion
2018	0.00%	-444.36%	0.81x	0.00x	CN¥-577.85 Million
2019	4133.01%	2424.69%	0.19x	8.78x	CN¥514.58 Million
2020	0.00%	-66.16%	2.87x	0.00x	CN¥-100.01 Million
2021	289.69%	54.54%	0.94x	5.63x	CN¥144.26 Million
2022	54.49%	20.12%	1.22x	2.22x	CN¥50.31 Million
2023	15.32%	5.95%	1.05x	2.44x	CN¥7.02 Million
2024	2.35%	1.95%	0.73x	1.65x	CN¥-23.11 Million
2025	9.05%	7.98%	0.66x	1.72x	CN¥-3.35 Million

Industry Comparison

This section compares Bus Online Co Ltd's net assets metrics with peer companies in the Communication Equipment industry.

Industry Context

Industry: Communication Equipment
Average net assets among peers: $6,857,714,455
Average return on equity (ROE) among peers: -5.26%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Bus Online Co Ltd (002188)	CN¥360.84 Million	27.07%	0.62x	$245.55 Million
ZTE Corp (000063)	$53.29 Billion	12.79%	2.17x	$20.05 Billion
Shenzhen SDG Information Co Ltd (000070)	$634.32 Million	0.30%	0.59x	$1.71 Billion
Addsino Co Ltd (000547)	$90.79 Million	5.45%	0.78x	$3.41 Billion
Sichuan Huiyuan Optical Com (000586)	$214.90 Million	2.38%	1.39x	$313.35 Million
PetroChina Jinhong Energy Investment Co Ltd (000669)	$366.30 Million	-60.83%	6.39x	$342.50 Million
Sichuan Jiuzhou Electronic Co Ltd (000801)	$868.98 Million	6.25%	1.43x	$1.74 Billion
Skyworth Digital Co Ltd (000810)	$6.37 Billion	9.45%	0.80x	$1.61 Billion
Gohigh Data Networks Technology Co Ltd (000851)	$3.50 Billion	-44.46%	1.37x	$64.38 Million
Shenzhen Coship Electronics Co Ltd (002052)	$786.42 Million	13.77%	1.77x	$963.42 Million
Sunwave Communications Co Ltd (002115)	$2.46 Billion	2.25%	0.78x	$1.34 Billion

About Bus Online Co Ltd

SHE:002188 China Communication Equipment

Market Cap

$245.55 Million

CN¥1.68 Billion CNY

Market Cap Rank

#15690 Global

#4578 in China

Share Price

CN¥5.13

Change (1 day)

+4.27%

52-Week Range

CN¥4.28 - CN¥7.47

All Time High

CN¥47.50