Bus Online Co Ltd (002188) - Net Assets
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. Check 002188 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity 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. See 002188 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
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 market value of Bus Online Co Ltd.
| 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 |
|---|---|
|
Ares Commercial Real Estate
NYSE:ACRE
|
$255.77 Million |
|
Amorepacific Corp Pref
KO:090435
|
$255.99 Million |
|
Shenzhen Auto Electric Power Plant Co Ltd
SHE:002227
|
$256.01 Million |
|
Vitruvio Real Estate Socimi
MC:YVIT
|
$256.09 Million |
|
Guangdong Jiaying Pharmaceutical Co Ltd
SHE:002198
|
$255.47 Million |
|
Sichuan Langsha Holding Ltd
SHG:600137
|
$255.36 Million |
|
Jackson Acquisition Company II
NYSE:JACS
|
$255.33 Million |
|
Andretti Acquisition Corp. II Class A Ordinary Shares
NASDAQ:POLE
|
$255.06 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: 4.93x
- 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 26.22x to 4.93x 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¥5.34 | x |
| 2005-12-31 | CN¥0.25 | CN¥5.34 | x |
| 2006-12-31 | CN¥0.88 | CN¥5.34 | x |
| 2007-12-31 | CN¥2.58 | CN¥5.34 | x |
| 2008-12-31 | CN¥1.98 | CN¥5.34 | x |
| 2009-12-31 | CN¥2.09 | CN¥5.34 | x |
| 2010-12-31 | CN¥2.13 | CN¥5.34 | x |
| 2011-12-31 | CN¥2.94 | CN¥5.34 | x |
| 2012-12-31 | CN¥2.16 | CN¥5.34 | x |
| 2013-12-31 | CN¥2.04 | CN¥5.34 | x |
| 2014-12-31 | CN¥1.97 | CN¥5.34 | x |
| 2015-12-31 | CN¥11.03 | CN¥5.34 | x |
| 2016-12-31 | CN¥6.92 | CN¥5.34 | x |
| 2017-12-31 | CN¥0.04 | CN¥5.34 | x |
| 2018-12-31 | CN¥-2.13 | CN¥5.34 | x |
| 2019-12-31 | CN¥0.04 | CN¥5.34 | x |
| 2020-12-31 | CN¥-0.38 | CN¥5.34 | x |
| 2021-12-31 | CN¥0.18 | CN¥5.34 | x |
| 2022-12-31 | CN¥0.39 | CN¥5.34 | x |
| 2023-12-31 | CN¥0.46 | CN¥5.34 | x |
| 2024-12-31 | CN¥0.85 | CN¥5.34 | x |
| 2025-12-31 | CN¥1.08 | CN¥5.34 | 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: $6,852,220,766
- Average return on equity (ROE) among peers: -12.00%
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 | $255.60 Million |
| ZTE Corp (000063) | $59.54 Billion | 13.57% | 2.04x | $22.19 Billion |
| Shenzhen SDG Information Co Ltd (000070) | $777.81 Million | 0.64% | 0.63x | $2.72 Billion |
| Addsino Co Ltd (000547) | $5.39 Billion | 4.52% | 0.29x | $4.69 Billion |
| Sichuan Huiyuan Optical Com (000586) | $448.24 Million | 2.88% | 0.47x | $438.47 Million |
| PetroChina Jinhong Energy Investment Co Ltd (000669) | $366.30 Million | -60.83% | 6.39x | $413.20 Million |
| Sichuan Jiuzhou Electronic Co Ltd (000801) | $117.42 Million | 3.98% | 0.49x | $1.72 Billion |
| Skyworth Digital Co Ltd (000810) | $301.13 Million | 0.65% | 1.81x | $2.04 Billion |
| Gohigh Data Networks Technology Co Ltd (000851) | $397.58 Million | -4.60% | 0.35x | $64.38 Million |
| Shenzhen Coship Electronics Co Ltd (002052) | $231.11 Million | -66.53% | 2.00x | $983.24 Million |
| Sunwave Communications Co Ltd (002115) | $945.20 Million | -14.30% | 1.10x | $1.40 Billion |
About Bus Online Co Ltd
Zhongtian Service Co., Ltd., together with its subsidiaries, provides property management services in China. It offers its services to residential communities, buildings, villas, office buildings, and community commercial properties. The company was formerly known as Bus Online Co., Ltd. and changed its name to Zhongtian Service Co., Ltd. in August 2022. Zhongtian Service Co., Ltd. was founded in… Read more