Hunan Changgao High Voltage Switchgear Group Co Ltd (002452) - Net Assets
Based on the latest financial reports, Hunan Changgao High Voltage Switchgear Group Co Ltd (002452) has net assets worth CN¥2.81 Billion CNY (≈ $411.18 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¥4.54 Billion ≈ $664.25 Million USD) and total liabilities (CN¥1.73 Billion ≈ $253.07 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 002452 tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥2.81 Billion |
| % of Total Assets | 61.9% |
| Annual Growth Rate | 17.26% |
| 5-Year Change | 29.73% |
| 10-Year Change | 104.65% |
| Growth Volatility | 47.32 |
Hunan Changgao High Voltage Switchgear Group Co Ltd - Net Assets Trend (2007–2025)
This chart illustrates how Hunan Changgao High Voltage Switchgear Group Co Ltd's net assets have evolved over time, based on quarterly financial data. See Hunan Changgao High Voltage Switchgear G defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Hunan Changgao High Voltage Switchgear Group Co Ltd (2007–2025)
The table below shows the annual net assets of Hunan Changgao High Voltage Switchgear Group Co Ltd from 2007 to 2025. For live valuation and market cap data, see market value of Hunan Changgao High Voltage Switchgear G.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥2.72 Billion ≈ $397.35 Million |
+12.61% |
| 2024-12-31 | CN¥2.41 Billion ≈ $352.84 Million |
+6.62% |
| 2023-12-31 | CN¥2.26 Billion ≈ $330.92 Million |
+7.51% |
| 2022-12-31 | CN¥2.10 Billion ≈ $307.80 Million |
+0.50% |
| 2021-12-31 | CN¥2.09 Billion ≈ $306.29 Million |
+42.80% |
| 2020-12-31 | CN¥1.47 Billion ≈ $214.49 Million |
+15.54% |
| 2019-12-31 | CN¥1.27 Billion ≈ $185.63 Million |
+11.39% |
| 2018-12-31 | CN¥1.14 Billion ≈ $166.66 Million |
-18.27% |
| 2017-12-31 | CN¥1.39 Billion ≈ $203.91 Million |
+5.02% |
| 2016-12-31 | CN¥1.33 Billion ≈ $194.16 Million |
+7.68% |
| 2015-12-31 | CN¥1.23 Billion ≈ $180.30 Million |
+4.46% |
| 2014-12-31 | CN¥1.18 Billion ≈ $172.60 Million |
+7.66% |
| 2013-12-31 | CN¥1.10 Billion ≈ $160.31 Million |
+4.27% |
| 2012-12-31 | CN¥1.05 Billion ≈ $153.75 Million |
+3.12% |
| 2011-12-31 | CN¥1.02 Billion ≈ $149.11 Million |
+4.00% |
| 2010-12-31 | CN¥979.75 Million ≈ $143.37 Million |
+205.24% |
| 2009-12-31 | CN¥320.98 Million ≈ $46.97 Million |
+29.54% |
| 2008-12-31 | CN¥247.79 Million ≈ $36.26 Million |
+60.42% |
| 2007-12-31 | CN¥154.46 Million ≈ $22.60 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Hunan Changgao High Voltage Switchgear 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 2517.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥1.34 Billion | 49.37% |
| Other Components | CN¥1.37 Billion | 50.63% |
| Total Equity | CN¥2.71 Billion | 100.00% |
Hunan Changgao High Voltage Switchgear Group Co Ltd Competitors by Market Cap
The table below lists competitors of Hunan Changgao High Voltage Switchgear Group Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Altri SGPS SA
LS:ALTR
|
$1.00 Billion |
|
JinkoSolar Holding Company Limited
NYSE:JKS
|
$1.00 Billion |
|
CSSC Offshore & Marine Engineering (Group) Co Ltd
F:GSZ
|
$1.00 Billion |
|
Vesuvius India Limited
NSE:VESUVIUS
|
$1.00 Billion |
|
MAP Aktif Adiperkasa Tbk PT
JK:MAPA
|
$1.00 Billion |
|
Grupo Herdez S.A.B. de C.V
MX:HERDEZ
|
$1.00 Billion |
|
Hunan Er Kang Pharmaceutical
SHE:300267
|
$1.00 Billion |
|
Axis Real Estate Investment Trust
KLSE:5106
|
$1.00 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hunan Changgao High Voltage Switchgear Group Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,409,091,000 to 2,712,229,547, a change of 303,138,547 (12.6%).
- Net income of 342,631,421 contributed positively to equity growth.
- Dividend payments of 71,624,667 reduced retained earnings.
- Other comprehensive income decreased equity by 139,779,494.
- Other factors increased equity by 171,911,286.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥342.63 Million | +12.63% |
| Dividends Paid | CN¥71.62 Million | -2.64% |
| Other Comprehensive Income | CN¥-139.78 Million | -5.15% |
| Other Changes | CN¥171.91 Million | +6.34% |
| Total Change | CN¥- | 12.58% |
Book Value vs Market Value Analysis
This analysis compares Hunan Changgao High Voltage Switchgear 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: 2.53x
- 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 26.14x to 2.53x 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¥0.42 | CN¥11.05 | x |
| 2008-12-31 | CN¥0.64 | CN¥11.05 | x |
| 2009-12-31 | CN¥0.81 | CN¥11.05 | x |
| 2010-12-31 | CN¥2.16 | CN¥11.05 | x |
| 2011-12-31 | CN¥1.92 | CN¥11.05 | x |
| 2012-12-31 | CN¥1.99 | CN¥11.05 | x |
| 2013-12-31 | CN¥2.08 | CN¥11.05 | x |
| 2014-12-31 | CN¥2.23 | CN¥11.05 | x |
| 2015-12-31 | CN¥2.33 | CN¥11.05 | x |
| 2016-12-31 | CN¥2.50 | CN¥11.05 | x |
| 2017-12-31 | CN¥2.60 | CN¥11.05 | x |
| 2018-12-31 | CN¥2.10 | CN¥11.05 | x |
| 2019-12-31 | CN¥2.38 | CN¥11.05 | x |
| 2020-12-31 | CN¥2.74 | CN¥11.05 | x |
| 2021-12-31 | CN¥3.71 | CN¥11.05 | x |
| 2022-12-31 | CN¥3.39 | CN¥11.05 | x |
| 2023-12-31 | CN¥3.64 | CN¥11.05 | x |
| 2024-12-31 | CN¥3.88 | CN¥11.05 | x |
| 2025-12-31 | CN¥4.37 | CN¥11.05 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hunan Changgao High Voltage Switchgear 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): 12.63%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.58%
- • Asset Turnover: 0.44x
- • Equity Multiplier: 1.38x
- Recent ROE (12.63%) is above the historical average (9.64%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 32.30% | 14.56% | 1.01x | 2.19x | CN¥34.37 Million |
| 2008 | 28.70% | 17.82% | 0.84x | 1.92x | CN¥46.33 Million |
| 2009 | 23.51% | 18.94% | 0.72x | 1.72x | CN¥42.82 Million |
| 2010 | 4.77% | 15.02% | 0.27x | 1.20x | CN¥-50.02 Million |
| 2011 | 4.99% | 14.24% | 0.27x | 1.28x | CN¥-49.95 Million |
| 2012 | 5.29% | 13.36% | 0.32x | 1.22x | CN¥-48.84 Million |
| 2013 | 7.05% | 15.43% | 0.38x | 1.21x | CN¥-32.00 Million |
| 2014 | 7.71% | 18.90% | 0.34x | 1.19x | CN¥-26.81 Million |
| 2015 | 5.58% | 10.27% | 0.36x | 1.49x | CN¥-53.98 Million |
| 2016 | 9.16% | 9.32% | 0.45x | 2.16x | CN¥-11.01 Million |
| 2017 | 4.45% | 4.30% | 0.49x | 2.11x | CN¥-75.87 Million |
| 2018 | -22.15% | -23.36% | 0.43x | 2.19x | CN¥-357.13 Million |
| 2019 | 11.53% | 12.50% | 0.39x | 2.35x | CN¥19.23 Million |
| 2020 | 14.69% | 13.66% | 0.43x | 2.49x | CN¥68.10 Million |
| 2021 | 12.07% | 16.53% | 0.46x | 1.60x | CN¥43.16 Million |
| 2022 | 2.76% | 4.74% | 0.38x | 1.55x | CN¥-151.94 Million |
| 2023 | 7.66% | 11.59% | 0.46x | 1.43x | CN¥-52.86 Million |
| 2024 | 10.46% | 14.32% | 0.50x | 1.46x | CN¥11.19 Million |
| 2025 | 12.63% | 20.58% | 0.44x | 1.38x | CN¥71.41 Million |
Industry Comparison
This section compares Hunan Changgao High Voltage Switchgear Group Co Ltd's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $2,053,540,271
- Average return on equity (ROE) among peers: 4.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hunan Changgao High Voltage Switchgear Group Co Ltd (002452) | CN¥2.81 Billion | 32.30% | 0.62x | $1.00 Billion |
| Huayi Compressor Co Ltd (000404) | $2.70 Billion | 6.94% | 1.45x | $768.94 Million |
| Shenyang Machine Tool Co Ltd (000410) | $1.11 Billion | 8.63% | 3.77x | $1.98 Billion |
| North Industries Group Red Arrow Co Ltd (000519) | $9.75 Billion | 8.40% | 0.54x | $4.14 Billion |
| Bingshan Refrigeration & Heat Transfer Technologies Co Ltd (000530) | $657.04 Million | 17.35% | 0.68x | $478.11 Million |
| Changchai Co Ltd (000570) | $2.06 Billion | 3.02% | 0.72x | $409.83 Million |
| Jiangsu Youli Investment Holding Co Ltd (000584) | $437.03 Million | 6.41% | 1.13x | $32.29 Million |
| Baota Industry Co Ltd (000595) | $356.47 Million | -22.08% | 1.87x | $1.07 Billion |
| SUFA Technology Industry Co Ltd CNNC (000777) | $303.55 Million | 4.59% | 0.79x | $1.10 Billion |
| J.S. Corrugating Machinery Co Ltd (000821) | $2.36 Billion | 2.28% | 1.62x | $788.41 Million |
| Qinchuan Machine Tool & Tool Group Share Co Ltd (000837) | $803.92 Million | 9.00% | 0.67x | $1.83 Billion |
About Hunan Changgao High Voltage Switchgear Group Co Ltd
Changgao Electric Group Co., Ltd. engages in the research, development, manufacture, and sale of power transmission equipment in the People's Republic of China. The company offers gas insulated metal enclosed switchgear; outdoor pole type vacuum and outdoor high voltage AC circuit breaker; disconnectors; low/medium voltage switchgear, including series relay, cable type data collection unit, cable… Read more