Shenzhen Topraysolar Co Ltd
SHENZHEN TOPRAYSOLAR Co.,Ltd. engages in research, development, production, and sale of solar chips and components in China. It also offers solar power supplies, application products, photovoltaic glass and brackets, and collector plates, as well as water heater systems; designs, installs, and sells, solar hot water projects, solar power station, and wind power projects. In addition, the company … Read more
Shenzhen Topraysolar Co Ltd (002218) - Net Assets
Latest net assets as of September 2025: CN¥4.06 Billion CNY
Based on the latest financial reports, Shenzhen Topraysolar Co Ltd (002218) has net assets worth CN¥4.06 Billion CNY as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥6.66 Billion) and total liabilities (CN¥2.60 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥4.06 Billion |
| % of Total Assets | 60.96% |
| Annual Growth Rate | 27.76% |
| 5-Year Change | 35.3% |
| 10-Year Change | 60.53% |
| Growth Volatility | 61.84 |
Shenzhen Topraysolar Co Ltd - Net Assets Trend (2004–2024)
This chart illustrates how Shenzhen Topraysolar Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Shenzhen Topraysolar Co Ltd (2004–2024)
The table below shows the annual net assets of Shenzhen Topraysolar Co Ltd from 2004 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥4.19 Billion | -0.35% |
| 2023-12-31 | CN¥4.20 Billion | -0.82% |
| 2022-12-31 | CN¥4.24 Billion | +0.09% |
| 2021-12-31 | CN¥4.23 Billion | +36.77% |
| 2020-12-31 | CN¥3.09 Billion | +4.47% |
| 2019-12-31 | CN¥2.96 Billion | +2.71% |
| 2018-12-31 | CN¥2.88 Billion | +1.75% |
| 2017-12-31 | CN¥2.83 Billion | +4.80% |
| 2016-12-31 | CN¥2.70 Billion | +3.70% |
| 2015-12-31 | CN¥2.61 Billion | +85.80% |
| 2014-12-31 | CN¥1.40 Billion | -2.52% |
| 2013-12-31 | CN¥1.44 Billion | +0.87% |
| 2012-12-31 | CN¥1.43 Billion | +0.33% |
| 2011-12-31 | CN¥1.42 Billion | +79.98% |
| 2010-12-31 | CN¥790.29 Million | +12.17% |
| 2009-12-31 | CN¥704.57 Million | +4.22% |
| 2008-12-31 | CN¥676.03 Million | +247.06% |
| 2007-12-31 | CN¥194.79 Million | +38.68% |
| 2006-12-31 | CN¥140.45 Million | +93.20% |
| 2005-12-31 | CN¥72.70 Million | +133.26% |
| 2004-12-31 | CN¥31.17 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Shenzhen Topraysolar 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 3346.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥616.16 Million | 14.72% |
| Common Stock | CN¥1.41 Billion | 33.76% |
| Other Components | CN¥2.16 Billion | 51.52% |
| Total Equity | CN¥4.19 Billion | 100.00% |
Shenzhen Topraysolar Co Ltd Competitors by Market Cap
The table below lists competitors of Shenzhen Topraysolar Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GUD Holdings Limited
PINK:GUDHF
|
$670.59 Million |
|
Huizhou China Eagle Electronic Technology Co Ltd
SHE:002579
|
$671.31 Million |
|
Shandong Mining Machinery Group Co Ltd
SHE:002526
|
$671.39 Million |
|
Sichuan Expressway Company Limited
F:EXF1
|
$671.41 Million |
|
RENEWI LS 1
F:1K5A
|
$670.42 Million |
|
Senior plc
PINK:SNIRF
|
$670.33 Million |
|
Xiamen Kingdomway Group Co
SHE:002626
|
$670.28 Million |
|
LINEA DIRECTA A. EO-04
F:8I2
|
$670.18 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shenzhen Topraysolar Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,200,375,334 to 4,185,776,598, a change of -14,598,736 (-0.3%).
- Net income of 10,787,821 contributed positively to equity growth.
- Dividend payments of 96,658,074 reduced retained earnings.
- Other factors increased equity by 71,271,517.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥10.79 Million | +0.26% |
| Dividends Paid | CN¥96.66 Million | -2.31% |
| Other Changes | CN¥71.27 Million | +1.7% |
| Total Change | CN¥- | -0.35% |
Book Value vs Market Value Analysis
This analysis compares Shenzhen Topraysolar 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: 2.05x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 9.22x to 2.05x 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¥0.66 | CN¥6.08 | x |
| 2005-12-31 | CN¥1.35 | CN¥6.08 | x |
| 2006-12-31 | CN¥0.52 | CN¥6.08 | x |
| 2007-12-31 | CN¥0.30 | CN¥6.08 | x |
| 2008-12-31 | CN¥0.80 | CN¥6.08 | x |
| 2009-12-31 | CN¥0.85 | CN¥6.08 | x |
| 2010-12-31 | CN¥0.90 | CN¥6.08 | x |
| 2011-12-31 | CN¥1.48 | CN¥6.08 | x |
| 2012-12-31 | CN¥1.47 | CN¥6.08 | x |
| 2013-12-31 | CN¥1.89 | CN¥6.08 | x |
| 2014-12-31 | CN¥1.30 | CN¥6.08 | x |
| 2015-12-31 | CN¥2.10 | CN¥6.08 | x |
| 2016-12-31 | CN¥2.10 | CN¥6.08 | x |
| 2017-12-31 | CN¥2.32 | CN¥6.08 | x |
| 2018-12-31 | CN¥2.19 | CN¥6.08 | x |
| 2019-12-31 | CN¥2.40 | CN¥6.08 | x |
| 2020-12-31 | CN¥2.50 | CN¥6.08 | x |
| 2021-12-31 | CN¥2.99 | CN¥6.08 | x |
| 2022-12-31 | CN¥3.00 | CN¥6.08 | x |
| 2023-12-31 | CN¥2.91 | CN¥6.08 | x |
| 2024-12-31 | CN¥2.97 | CN¥6.08 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shenzhen Topraysolar 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): 0.26%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.82%
- • Asset Turnover: 0.19x
- • Equity Multiplier: 1.63x
- Recent ROE (0.26%) is below the historical average (11.56%), 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 | 52.78% | 27.39% | 1.29x | 1.49x | CN¥13.33 Million |
| 2005 | 57.13% | 30.67% | 1.26x | 1.48x | CN¥34.26 Million |
| 2006 | 48.21% | 39.04% | 0.97x | 1.27x | CN¥53.66 Million |
| 2007 | 35.59% | 33.85% | 0.91x | 1.15x | CN¥49.85 Million |
| 2008 | 10.80% | 24.78% | 0.39x | 1.13x | CN¥5.44 Million |
| 2009 | 4.73% | 14.54% | 0.25x | 1.28x | CN¥-37.12 Million |
| 2010 | 12.18% | 16.38% | 0.43x | 1.74x | CN¥17.24 Million |
| 2011 | -9.82% | -29.22% | 0.24x | 1.42x | CN¥-281.93 Million |
| 2012 | 0.37% | 1.01% | 0.23x | 1.61x | CN¥-137.38 Million |
| 2013 | 0.90% | 1.22% | 0.41x | 1.78x | CN¥-130.97 Million |
| 2014 | -0.38% | -0.99% | 0.17x | 2.28x | CN¥-145.71 Million |
| 2015 | 1.19% | 4.27% | 0.17x | 1.63x | CN¥-229.68 Million |
| 2016 | 4.76% | 11.28% | 0.24x | 1.78x | CN¥-141.67 Million |
| 2017 | 5.76% | 10.77% | 0.26x | 2.03x | CN¥-120.19 Million |
| 2018 | 3.08% | 7.93% | 0.18x | 2.20x | CN¥-199.41 Million |
| 2019 | 2.63% | 7.40% | 0.17x | 2.12x | CN¥-218.19 Million |
| 2020 | 5.22% | 11.86% | 0.21x | 2.11x | CN¥-147.97 Million |
| 2021 | 4.62% | 13.73% | 0.20x | 1.66x | CN¥-227.70 Million |
| 2022 | 2.27% | 7.28% | 0.19x | 1.69x | CN¥-327.28 Million |
| 2023 | 0.55% | 2.05% | 0.17x | 1.58x | CN¥-396.93 Million |
| 2024 | 0.26% | 0.82% | 0.19x | 1.63x | CN¥-407.79 Million |
Industry Comparison
This section compares Shenzhen Topraysolar Co Ltd's net assets metrics with peer companies in the Solar industry.
Industry Context
- Industry: Solar
- Average net assets among peers: $5,065,932,276
- Average return on equity (ROE) among peers: 4.96%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shenzhen Topraysolar Co Ltd (002218) | CN¥4.06 Billion | 52.78% | 0.64x | $670.55 Million |
| JA Solar Technology Co Ltd (002459) | $30.16 Billion | 18.35% | 1.40x | $2.78 Billion |
| GCL System Integration Technology Co Ltd (002506) | $4.29 Billion | 1.05% | 3.39x | $2.32 Billion |
| Changzhou Almaden Co Ltd (002623) | $40.18 Million | 14.90% | 1.71x | $313.43 Million |
| Hainan Drinda Automotive Trim Co Ltd (002865) | $503.78 Million | 9.15% | 1.26x | $2.32 Billion |
| Henan Yicheng New Energy Co Ltd (300080) | $3.27 Billion | 0.58% | 0.91x | $1.28 Billion |
| Gansu Golden Glass Technologies Co Ltd (300093) | $507.06 Million | -25.83% | 0.95x | $512.56 Million |
| Risen Energy (300118) | $3.14 Billion | 10.27% | 1.70x | $2.05 Billion |
| Lingda Group Co Ltd (300125) | $1.03 Billion | 6.42% | 0.30x | $258.47 Million |
| Jolywood Suzhou Sunwatt Co Ltd (300393) | $2.65 Billion | 9.75% | 1.34x | $1.13 Billion |