Shanghai Morn Electric Equipment Co Ltd
Shanghai Morn Electric Equipment Co., Ltd. designs, produces, and sells cables under the Morn brand in China. The company operates through Electric Cable Sector; and Special Financial segments. It offers power and electrical equipment cables, such as aluminum alloy, mineral insulated flexible fire-proof, LV and MV fire-resistant power, ceramic high-temperature fire-resistant, metal flexible pipe … Read more
Shanghai Morn Electric Equipment Co Ltd (002451) - Net Assets
Latest net assets as of September 2025: CN¥889.76 Million CNY
Based on the latest financial reports, Shanghai Morn Electric Equipment Co Ltd (002451) has net assets worth CN¥889.76 Million 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¥2.06 Billion) and total liabilities (CN¥1.17 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¥889.76 Million |
| % of Total Assets | 43.2% |
| Annual Growth Rate | 10.95% |
| 5-Year Change | 22.64% |
| 10-Year Change | 23.57% |
| Growth Volatility | 36.06 |
Shanghai Morn Electric Equipment Co Ltd - Net Assets Trend (2007–2024)
This chart illustrates how Shanghai Morn Electric Equipment 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 Shanghai Morn Electric Equipment Co Ltd (2007–2024)
The table below shows the annual net assets of Shanghai Morn Electric Equipment Co Ltd from 2007 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥867.01 Million | +1.29% |
| 2023-12-31 | CN¥855.99 Million | +0.62% |
| 2022-12-31 | CN¥850.70 Million | +1.75% |
| 2021-12-31 | CN¥836.06 Million | +18.26% |
| 2020-12-31 | CN¥706.96 Million | +1.02% |
| 2019-12-31 | CN¥699.81 Million | +5.51% |
| 2018-12-31 | CN¥663.23 Million | +1.30% |
| 2017-12-31 | CN¥654.73 Million | -2.66% |
| 2016-12-31 | CN¥672.64 Million | -4.13% |
| 2015-12-31 | CN¥701.65 Million | +3.09% |
| 2014-12-31 | CN¥680.59 Million | +6.32% |
| 2013-12-31 | CN¥640.12 Million | +0.64% |
| 2012-12-31 | CN¥636.06 Million | +1.73% |
| 2011-12-31 | CN¥625.28 Million | +0.67% |
| 2010-12-31 | CN¥621.10 Million | +153.38% |
| 2009-12-31 | CN¥245.13 Million | +23.70% |
| 2008-12-31 | CN¥198.16 Million | +33.77% |
| 2007-12-31 | CN¥148.14 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Shanghai Morn Electric Equipment 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 5349.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥227.61 Million | 29.76% |
| Common Stock | CN¥439.20 Million | 57.42% |
| Other Comprehensive Income | CN¥30.46 Million | 3.98% |
| Other Components | CN¥67.67 Million | 8.85% |
| Total Equity | CN¥764.95 Million | 100.00% |
Shanghai Morn Electric Equipment Co Ltd Competitors by Market Cap
The table below lists competitors of Shanghai Morn Electric Equipment Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Guangzhou Dongfang Hotel Co Ltd
SHE:000524
|
$373.80 Million |
|
Dayamitra Telekomunikasi PT
JK:MTEL
|
$373.89 Million |
|
Jiangsu Seagull Cooling Tower
SHG:603269
|
$374.06 Million |
|
Pierre et Vacances SA
PA:VAC
|
$374.16 Million |
|
Chong Hong Construction Co Ltd
TW:5534
|
$373.37 Million |
|
Century Wind Power Co. Ltd.
TWO:2072
|
$373.35 Million |
|
Dong Yi Ri Sheng Home Decoration Group Co Ltd
SHE:002713
|
$373.28 Million |
|
ShenZhen V&T Technologies Co Ltd
SHE:300484
|
$373.15 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shanghai Morn Electric Equipment Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 755,448,270 to 764,945,992, a change of 9,497,722 (1.3%).
- Net income of 17,871,821 contributed positively to equity growth.
- Dividend payments of 22,327,644 reduced retained earnings.
- Other comprehensive income increased equity by 6,077,531.
- Other factors increased equity by 7,876,014.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥17.87 Million | +2.34% |
| Dividends Paid | CN¥22.33 Million | -2.92% |
| Other Comprehensive Income | CN¥6.08 Million | +0.79% |
| Other Changes | CN¥7.88 Million | +1.03% |
| Total Change | CN¥- | 1.26% |
Book Value vs Market Value Analysis
This analysis compares Shanghai Morn Electric Equipment 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: 6.28x
- 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 18.54x to 6.28x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | CN¥0.59 | CN¥10.93 | x |
| 2008-12-31 | CN¥0.61 | CN¥10.93 | x |
| 2009-12-31 | CN¥0.74 | CN¥10.93 | x |
| 2010-12-31 | CN¥1.63 | CN¥10.93 | x |
| 2011-12-31 | CN¥1.61 | CN¥10.93 | x |
| 2012-12-31 | CN¥1.33 | CN¥10.93 | x |
| 2013-12-31 | CN¥1.50 | CN¥10.93 | x |
| 2014-12-31 | CN¥1.51 | CN¥10.93 | x |
| 2015-12-31 | CN¥1.40 | CN¥10.93 | x |
| 2016-12-31 | CN¥1.54 | CN¥10.93 | x |
| 2017-12-31 | CN¥1.43 | CN¥10.93 | x |
| 2018-12-31 | CN¥1.58 | CN¥10.93 | x |
| 2019-12-31 | CN¥1.59 | CN¥10.93 | x |
| 2020-12-31 | CN¥1.60 | CN¥10.93 | x |
| 2021-12-31 | CN¥1.70 | CN¥10.93 | x |
| 2022-12-31 | CN¥1.70 | CN¥10.93 | x |
| 2023-12-31 | CN¥1.87 | CN¥10.93 | x |
| 2024-12-31 | CN¥1.74 | CN¥10.93 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shanghai Morn Electric Equipment 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): 2.34%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.33%
- • Asset Turnover: 0.77x
- • Equity Multiplier: 2.27x
- Recent ROE (2.34%) is below the historical average (6.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 31.10% | 17.07% | 0.96x | 1.90x | CN¥30.72 Million |
| 2008 | 24.44% | 12.87% | 1.03x | 1.85x | CN¥28.61 Million |
| 2009 | 19.03% | 13.48% | 0.86x | 1.65x | CN¥22.13 Million |
| 2010 | 4.92% | 8.54% | 0.45x | 1.29x | CN¥-31.58 Million |
| 2011 | 0.93% | 1.30% | 0.48x | 1.48x | CN¥-56.71 Million |
| 2012 | 1.12% | 1.82% | 0.37x | 1.66x | CN¥-56.27 Million |
| 2013 | 2.66% | 3.84% | 0.36x | 1.93x | CN¥-46.80 Million |
| 2014 | 3.98% | 4.09% | 0.41x | 2.38x | CN¥-39.97 Million |
| 2015 | 2.15% | 2.53% | 0.32x | 2.68x | CN¥-53.32 Million |
| 2016 | 1.30% | 1.74% | 0.28x | 2.65x | CN¥-58.31 Million |
| 2017 | 9.08% | 12.67% | 0.29x | 2.50x | CN¥-6.02 Million |
| 2018 | 1.27% | 1.43% | 0.37x | 2.41x | CN¥-57.70 Million |
| 2019 | 5.24% | 9.95% | 0.30x | 1.73x | CN¥-33.22 Million |
| 2020 | 1.06% | 1.64% | 0.37x | 1.74x | CN¥-63.02 Million |
| 2021 | 1.73% | 1.12% | 0.81x | 1.89x | CN¥-61.61 Million |
| 2022 | 1.96% | 1.36% | 0.66x | 2.20x | CN¥-60.06 Million |
| 2023 | 2.14% | 1.48% | 0.66x | 2.19x | CN¥-59.38 Million |
| 2024 | 2.34% | 1.33% | 0.77x | 2.27x | CN¥-58.62 Million |
Industry Comparison
This section compares Shanghai Morn Electric Equipment Co Ltd's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $1,441,846,436
- Average return on equity (ROE) among peers: 9.51%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shanghai Morn Electric Equipment Co Ltd (002451) | CN¥889.76 Million | 31.10% | 1.32x | $373.60 Million |
| XJ Electric Co Ltd (000400) | $2.33 Billion | 4.98% | 1.00x | $2.59 Billion |
| Guangdong Macro Co Ltd (000533) | $598.74 Million | 0.58% | 4.38x | $880.32 Million |
| Shandong Xinneng Taishan Power Generation Co Ltd (000720) | $557.50 Million | 13.45% | 0.65x | $370.62 Million |
| Huagong Tech Co Ltd (000988) | $1.16 Billion | 4.84% | 1.06x | $9.70 Billion |
| Hunan Valin Wire & Cable Co Ltd (001208) | $1.62 Billion | 6.74% | 1.87x | $883.83 Million |
| Shijiazhuang Shangtai Technology Co. Ltd. A (001301) | $1.84 Billion | 29.48% | 0.99x | $1.66 Billion |
| Guangdong Xinyaguang Cable Co (001382) | $915.55 Million | 12.10% | 0.81x | $193.26 Million |
| Sieyuan Electric Co Ltd (002028) | $4.71 Billion | 6.26% | 0.61x | $14.43 Billion |
| Shanghai Welltech Automation Co Ltd (002058) | $218.98 Million | 10.86% | 0.64x | $218.23 Million |
| Gotion High tech Co Ltd (002074) | $467.84 Million | 5.86% | 0.80x | $5.23 Billion |