Lets Holding Group Co Ltd (002398) - Net Assets
Based on the latest financial reports, Lets Holding Group Co Ltd (002398) has net assets worth CN¥3.70 Billion CNY (≈ $541.83 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥5.82 Billion ≈ $851.54 Million USD) and total liabilities (CN¥2.12 Billion ≈ $309.71 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 002398 financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥3.70 Billion |
| % of Total Assets | 63.63% |
| Annual Growth Rate | 19.72% |
| 5-Year Change | 11.41% |
| 10-Year Change | 79.2% |
| Growth Volatility | 72.95 |
Lets Holding Group Co Ltd - Net Assets Trend (2006–2024)
This chart illustrates how Lets Holding Group Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 002398 total assets for the complete picture of this company's asset base.
Annual Net Assets for Lets Holding Group Co Ltd (2006–2024)
The table below shows the annual net assets of Lets Holding Group Co Ltd from 2006 to 2024. For live valuation and market cap data, see 002398 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥3.66 Billion ≈ $535.12 Million |
-1.90% |
| 2023-12-31 | CN¥3.73 Billion ≈ $545.50 Million |
+1.20% |
| 2022-12-31 | CN¥3.68 Billion ≈ $539.04 Million |
+5.54% |
| 2021-12-31 | CN¥3.49 Billion ≈ $510.76 Million |
+6.34% |
| 2020-12-31 | CN¥3.28 Billion ≈ $480.30 Million |
+13.24% |
| 2019-12-31 | CN¥2.90 Billion ≈ $424.14 Million |
+14.75% |
| 2018-12-31 | CN¥2.53 Billion ≈ $369.63 Million |
+8.64% |
| 2017-12-31 | CN¥2.33 Billion ≈ $340.22 Million |
+6.82% |
| 2016-12-31 | CN¥2.18 Billion ≈ $318.51 Million |
+6.66% |
| 2015-12-31 | CN¥2.04 Billion ≈ $298.62 Million |
+9.26% |
| 2014-12-31 | CN¥1.87 Billion ≈ $273.30 Million |
+11.97% |
| 2013-12-31 | CN¥1.67 Billion ≈ $244.07 Million |
+15.61% |
| 2012-12-31 | CN¥1.44 Billion ≈ $211.12 Million |
+14.46% |
| 2011-12-31 | CN¥1.26 Billion ≈ $184.44 Million |
+11.37% |
| 2010-12-31 | CN¥1.13 Billion ≈ $165.62 Million |
+328.38% |
| 2009-12-31 | CN¥264.20 Million ≈ $38.66 Million |
+22.66% |
| 2008-12-31 | CN¥215.39 Million ≈ $31.52 Million |
+23.18% |
| 2007-12-31 | CN¥174.86 Million ≈ $25.59 Million |
+22.12% |
| 2006-12-31 | CN¥143.19 Million ≈ $20.95 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Lets Holding Group 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 3628.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥2.67 Billion | 73.69% |
| Common Stock | CN¥698.02 Million | 19.28% |
| Other Components | CN¥254.20 Million | 7.02% |
| Total Equity | CN¥3.62 Billion | 100.00% |
Lets Holding Group Co Ltd Competitors by Market Cap
The table below lists competitors of Lets Holding Group Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Insteel Industries Inc
NYSE:IIIN
|
$523.12 Million |
|
Datamatics Global Services Limited
NSE:DATAMATICS
|
$523.13 Million |
|
Shanxi C&Y Pharmaceutical Group Co Ltd
SHE:300254
|
$523.55 Million |
|
IDI S.C.A.
PA:IDIP
|
$523.70 Million |
|
Shanghai Yahong Moulding Co Ltd
SHG:603159
|
$522.81 Million |
|
Ennis Inc
NYSE:EBF
|
$522.80 Million |
|
Smith & Wesson Brands Inc
NASDAQ:SWBI
|
$522.80 Million |
|
Empresa Distribuidora y Comercializadora Norte S.A.
BA:EDN
|
$522.65 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Lets Holding Group Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,687,776,300 to 3,619,544,478, a change of -68,231,822 (-1.9%).
- Net income of 49,262,122 contributed positively to equity growth.
- Dividend payments of 60,199,077 reduced retained earnings.
- Share repurchases of 111,315,113 reduced equity.
- Other comprehensive income increased equity by 17,966,106.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥49.26 Million | +1.36% |
| Dividends Paid | CN¥60.20 Million | -1.66% |
| Share Repurchases | CN¥111.32 Million | -3.08% |
| Other Comprehensive Income | CN¥17.97 Million | +0.5% |
| Other Changes | CN¥36.05 Million | +1.0% |
| Total Change | CN¥- | -1.85% |
Book Value vs Market Value Analysis
This analysis compares Lets Holding Group 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: 0.99x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 21.72x to 0.99x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-12-31 | CN¥0.24 | CN¥5.12 | x |
| 2007-12-31 | CN¥0.34 | CN¥5.12 | x |
| 2008-12-31 | CN¥0.41 | CN¥5.12 | x |
| 2009-12-31 | CN¥0.51 | CN¥5.12 | x |
| 2010-12-31 | CN¥1.78 | CN¥5.12 | x |
| 2011-12-31 | CN¥1.80 | CN¥5.12 | x |
| 2012-12-31 | CN¥2.08 | CN¥5.12 | x |
| 2013-12-31 | CN¥2.37 | CN¥5.12 | x |
| 2014-12-31 | CN¥2.67 | CN¥5.12 | x |
| 2015-12-31 | CN¥2.92 | CN¥5.12 | x |
| 2016-12-31 | CN¥3.12 | CN¥5.12 | x |
| 2017-12-31 | CN¥3.34 | CN¥5.12 | x |
| 2018-12-31 | CN¥3.58 | CN¥5.12 | x |
| 2019-12-31 | CN¥4.09 | CN¥5.12 | x |
| 2020-12-31 | CN¥4.66 | CN¥5.12 | x |
| 2021-12-31 | CN¥4.77 | CN¥5.12 | x |
| 2022-12-31 | CN¥5.15 | CN¥5.12 | x |
| 2023-12-31 | CN¥5.11 | CN¥5.12 | x |
| 2024-12-31 | CN¥5.19 | CN¥5.12 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Lets Holding Group 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): 1.36%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.88%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 1.65x
- Recent ROE (1.36%) is below the historical average (14.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 45.29% | 15.64% | 1.28x | 2.26x | CN¥42.69 Million |
| 2007 | 38.64% | 13.80% | 1.53x | 1.82x | CN¥49.17 Million |
| 2008 | 26.29% | 14.60% | 0.95x | 1.90x | CN¥34.62 Million |
| 2009 | 26.29% | 18.88% | 0.75x | 1.85x | CN¥42.55 Million |
| 2010 | 5.11% | 9.67% | 0.44x | 1.20x | CN¥-54.99 Million |
| 2011 | 11.01% | 13.88% | 0.66x | 1.20x | CN¥12.53 Million |
| 2012 | 13.68% | 14.85% | 0.67x | 1.38x | CN¥52.29 Million |
| 2013 | 13.93% | 12.78% | 0.76x | 1.43x | CN¥63.87 Million |
| 2014 | 12.18% | 12.40% | 0.74x | 1.34x | CN¥39.75 Million |
| 2015 | 10.12% | 15.02% | 0.54x | 1.24x | CN¥2.33 Million |
| 2016 | 7.85% | 12.08% | 0.52x | 1.25x | CN¥-45.74 Million |
| 2017 | 8.38% | 9.57% | 0.64x | 1.38x | CN¥-36.93 Million |
| 2018 | 10.07% | 9.17% | 0.74x | 1.48x | CN¥1.68 Million |
| 2019 | 14.20% | 11.86% | 0.76x | 1.57x | CN¥118.98 Million |
| 2020 | 11.59% | 9.62% | 0.71x | 1.69x | CN¥51.05 Million |
| 2021 | 7.97% | 5.53% | 0.76x | 1.91x | CN¥-69.36 Million |
| 2022 | 5.84% | 5.35% | 0.62x | 1.77x | CN¥-150.41 Million |
| 2023 | 4.31% | 5.20% | 0.47x | 1.76x | CN¥-209.90 Million |
| 2024 | 1.36% | 1.88% | 0.44x | 1.65x | CN¥-312.69 Million |
Industry Comparison
This section compares Lets Holding Group Co Ltd's net assets metrics with peer companies in the Building Materials industry.
Industry Context
- Industry: Building Materials
- Average net assets among peers: $6,435,806,394
- Average return on equity (ROE) among peers: 16.03%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Lets Holding Group Co Ltd (002398) | CN¥3.70 Billion | 45.29% | 0.57x | $522.97 Million |
| CSG Holding Co Ltd (000012) | $1.04 Billion | 12.98% | 1.18x | $1.16 Billion |
| Tangshan Jidong Cement Co Ltd (000401) | $29.26 Billion | -3.39% | 1.03x | $1.66 Billion |
| Gansu Shangfeng Cement Co Ltd (000672) | $9.59 Billion | 7.76% | 0.87x | $2.01 Billion |
| Jiangxi Wannianqing Cement Co Ltd (000789) | $1.24 Billion | 2.67% | 1.12x | $576.43 Million |
| Xinjiang Tianshan Cement Co Ltd (000877) | $11.32 Billion | 114.74% | 0.32x | $4.92 Billion |
| Sinostone Guangdong Co Ltd (001212) | $1.73 Billion | 1.76% | 0.35x | $1.70 Billion |
| Ruitai Materials Technology Co Ltd (002066) | $1.45 Billion | 5.02% | 2.34x | $801.95 Million |
| Guangdong Tapai Group Co Ltd (002233) | $3.47 Billion | 5.81% | 0.48x | $1.52 Billion |
| China West Construction Group Co Ltd (002302) | $4.37 Billion | 7.94% | 1.87x | $1.05 Billion |
| Hubei Guochuang Hi-tech Material Co Ltd (002377) | $892.12 Million | 5.01% | 1.60x | $490.76 Million |
About Lets Holding Group Co Ltd
Lets Holdings Group Co., Ltd. engages in the research and development, production, and sale of construction materials in China and internationally. It provides concrete manufacturing and construction services for the nuclear power, ports, bridges, tunnels, highways, high-speed rail, subways, water conservancy, electric power, and other projects. The company also offers technical construction serv… Read more