Zhejiang Hailiang Co Ltd (002203) - Net Assets

Latest as of March 2026: CN¥19.72 Billion CNY ≈ $2.89 Billion USD

Based on the latest financial reports, Zhejiang Hailiang Co Ltd (002203) has net assets worth CN¥19.72 Billion CNY (≈ $2.89 Billion 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¥52.19 Billion ≈ $7.64 Billion USD) and total liabilities (CN¥32.47 Billion ≈ $4.75 Billion 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 Zhejiang Hailiang Co Ltd (002203) tangible equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥19.72 Billion
% of Total Assets	37.78%
Annual Growth Rate	22.5%
5-Year Change	65.65%
10-Year Change	317.47%
Growth Volatility	22.66

Zhejiang Hailiang Co Ltd - Net Assets Trend (2004–2025)

This chart illustrates how Zhejiang Hailiang Co Ltd's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Zhejiang Hailiang Co Ltd to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Zhejiang Hailiang Co Ltd (2004–2025)

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

Year	Net Assets	Change
2025-12-31	CN¥19.41 Billion ≈ $2.84 Billion	+14.52%
2024-12-31	CN¥16.95 Billion ≈ $2.48 Billion	+0.65%
2023-12-31	CN¥16.84 Billion ≈ $2.46 Billion	+25.88%
2022-12-31	CN¥13.38 Billion ≈ $1.96 Billion	+14.17%
2021-12-31	CN¥11.72 Billion ≈ $1.71 Billion	+14.70%
2020-12-31	CN¥10.21 Billion ≈ $1.49 Billion	+4.62%
2019-12-31	CN¥9.76 Billion ≈ $1.43 Billion	+17.14%
2018-12-31	CN¥8.33 Billion ≈ $1.22 Billion	+50.95%
2017-12-31	CN¥5.52 Billion ≈ $807.99 Million	+18.77%
2016-12-31	CN¥4.65 Billion ≈ $680.27 Million	+12.47%
2015-12-31	CN¥4.13 Billion ≈ $604.84 Million	+19.10%
2014-12-31	CN¥3.47 Billion ≈ $507.83 Million	+20.30%
2013-12-31	CN¥2.88 Billion ≈ $422.12 Million	+7.09%
2012-12-31	CN¥2.69 Billion ≈ $394.17 Million	+6.23%
2011-12-31	CN¥2.54 Billion ≈ $371.05 Million	+62.43%
2010-12-31	CN¥1.56 Billion ≈ $228.44 Million	+8.18%
2009-12-31	CN¥1.44 Billion ≈ $211.17 Million	-3.94%
2008-12-31	CN¥1.50 Billion ≈ $219.83 Million	+88.95%
2007-12-31	CN¥795.03 Million ≈ $116.34 Million	+32.70%
2006-12-31	CN¥599.10 Million ≈ $87.67 Million	+42.93%
2005-12-31	CN¥419.16 Million ≈ $61.34 Million	+53.21%
2004-12-31	CN¥273.58 Million ≈ $40.03 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Zhejiang Hailiang 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 grown by 16197.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥8.74 Billion	52.00%
Other Components	CN¥8.07 Billion	48.00%
Total Equity	CN¥16.82 Billion	100.00%

Zhejiang Hailiang Co Ltd Competitors by Market Cap

The table below lists competitors of Zhejiang Hailiang Co Ltd ranked by their market capitalization.

Company	Market Cap
Indoritel Makmur Internasional JK:DNET	$8.56 Billion
Yintai Resources Co Ltd SHE:000975	$8.56 Billion
Walsin Technology Corp TW:2492	$8.57 Billion
AKZO NOBEL SPONS.ADRS 1/3 F:AKUP	$8.57 Billion
Beijing Compass Technology Develop SHE:300803	$8.54 Billion
Subsea 7 S.A F:SOCA	$8.54 Billion
National Retail Properties Inc NYSE:NNN	$8.54 Billion
Wuhan Guide Infrared Co Ltd SHE:002414	$8.54 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 14,366,383,000 to 16,815,245,022, a change of 2,448,862,022 (17.0%).
Net income of 943,160,922 contributed positively to equity growth.
Dividend payments of 1,133,403,090 reduced retained earnings.
Other comprehensive income decreased equity by 912,631,000.
Other factors increased equity by 3,551,735,190.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥943.16 Million	+5.61%
Dividends Paid	CN¥1.13 Billion	-6.74%
Other Comprehensive Income	CN¥-912.63 Million	-5.43%
Other Changes	CN¥3.55 Billion	+21.12%
Total Change	CN¥-	17.05%

Book Value vs Market Value Analysis

This analysis compares Zhejiang Hailiang 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: 3.48x
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 53.52x to 3.48x 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¥0.48	CN¥25.52	x
2005-12-31	CN¥0.61	CN¥25.52	x
2006-12-31	CN¥0.47	CN¥25.52	x
2007-12-31	CN¥0.52	CN¥25.52	x
2008-12-31	CN¥1.04	CN¥25.52	x
2009-12-31	CN¥1.07	CN¥25.52	x
2010-12-31	CN¥1.16	CN¥25.52	x
2011-12-31	CN¥1.89	CN¥25.52	x
2012-12-31	CN¥1.74	CN¥25.52	x
2013-12-31	CN¥1.86	CN¥25.52	x
2014-12-31	CN¥2.08	CN¥25.52	x
2015-12-31	CN¥2.28	CN¥25.52	x
2016-12-31	CN¥2.58	CN¥25.52	x
2017-12-31	CN¥3.07	CN¥25.52	x
2018-12-31	CN¥4.53	CN¥25.52	x
2019-12-31	CN¥4.76	CN¥25.52	x
2020-12-31	CN¥4.74	CN¥25.52	x
2021-12-31	CN¥5.19	CN¥25.52	x
2022-12-31	CN¥6.32	CN¥25.52	x
2023-12-31	CN¥6.42	CN¥25.52	x
2024-12-31	CN¥7.15	CN¥25.52	x
2025-12-31	CN¥7.34	CN¥25.52	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Zhejiang Hailiang 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): 5.61%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 1.13%
• Asset Turnover: 1.73x
• Equity Multiplier: 2.86x
Recent ROE (5.61%) is below the historical average (13.05%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	26.07%	3.39%	1.20x	6.41x	CN¥37.37 Million
2005	19.32%	2.44%	2.46x	3.21x	CN¥36.18 Million
2006	28.24%	2.48%	2.95x	3.87x	CN¥99.43 Million
2007	25.18%	2.57%	2.38x	4.10x	CN¥105.03 Million
2008	12.72%	2.22%	2.38x	2.41x	CN¥37.52 Million
2009	12.25%	2.90%	1.33x	3.17x	CN¥32.22 Million
2010	15.30%	2.62%	1.67x	3.51x	CN¥82.07 Million
2011	9.10%	1.93%	1.71x	2.75x	CN¥-22.56 Million
2012	8.67%	2.26%	1.61x	2.39x	CN¥-35.84 Million
2013	10.00%	2.20%	1.79x	2.54x	CN¥-25.76K
2014	14.26%	4.03%	1.44x	2.46x	CN¥148.01 Million
2015	11.98%	3.36%	1.47x	2.42x	CN¥75.63 Million
2016	12.78%	3.08%	1.40x	2.96x	CN¥120.04 Million
2017	13.62%	2.36%	1.96x	2.95x	CN¥187.56 Million
2018	11.39%	2.24%	2.12x	2.40x	CN¥111.05 Million
2019	11.32%	2.58%	1.68x	2.61x	CN¥123.81 Million
2020	6.89%	1.46%	1.77x	2.68x	CN¥-306.01 Million
2021	10.01%	1.75%	1.97x	2.90x	CN¥1.31 Million
2022	9.50%	1.64%	2.21x	2.63x	CN¥-63.71 Million
2023	7.94%	1.48%	1.87x	2.87x	CN¥-289.63 Million
2024	4.90%	0.80%	1.96x	3.10x	CN¥-733.34 Million
2025	5.61%	1.13%	1.73x	2.86x	CN¥-738.36 Million

Industry Comparison

This section compares Zhejiang Hailiang Co Ltd's net assets metrics with peer companies in the Copper industry.

Industry Context

Industry: Copper
Average net assets among peers: $4,444,196,483
Average return on equity (ROE) among peers: 8.88%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Zhejiang Hailiang Co Ltd (002203)	CN¥19.72 Billion	26.07%	1.65x	$8.56 Billion
Tongling Nonferrous Metals Group Co Ltd (000630)	$17.53 Billion	1.03%	1.54x	$15.01 Billion
North Copper Shanxi Co Ltd (000737)	$1.62 Billion	0.67%	1.24x	$4.21 Billion
Yunnan Copper Co Ltd (000878)	$6.31 Billion	0.41%	2.69x	$6.62 Billion
Nanjing Hanrui Cobalt Co Ltd (300618)	$1.90 Billion	37.26%	0.82x	$1.73 Billion
Jiangyin Electrical Alloy Co Ltd (300697)	$269.86 Million	20.74%	3.10x	$1.20 Billion
Xinke Material (600255)	$1.16 Billion	1.90%	0.84x	$1.12 Billion
Jiangxi Copper Co Ltd Class A (600362)	$3.79 Billion	0.26%	0.73x	$16.19 Billion
Pengxin International Mining Co Ltd (600490)	$314.42 Million	1.82%	0.58x	$2.33 Billion
Ningbo Boway Alloy Material Co Ltd (601137)	$7.11 Billion	15.81%	1.30x	$3.46 Billion

About Zhejiang Hailiang Co Ltd

SHE:002203 China Copper

Market Cap

$8.56 Billion

CN¥58.49 Billion CNY

Market Cap Rank

#2537 Global

#321 in China

Share Price

CN¥25.52

Change (1 day)

+10.00%

52-Week Range

CN¥9.85 - CN¥25.52

All Time High

CN¥25.52