Jiangsu Changbao Steeltube Co Ltd (002478) - Net Assets
Based on the latest financial reports, Jiangsu Changbao Steeltube Co Ltd (002478) has net assets worth CN¥5.91 Billion CNY (≈ $864.56 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¥8.95 Billion ≈ $1.31 Billion USD) and total liabilities (CN¥3.04 Billion ≈ $444.49 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 Jiangsu Changbao Steeltube Co Ltd liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥5.91 Billion |
| % of Total Assets | 66.04% |
| Annual Growth Rate | 15.61% |
| 5-Year Change | 24.95% |
| 10-Year Change | 88.77% |
| Growth Volatility | 30.89 |
Jiangsu Changbao Steeltube Co Ltd - Net Assets Trend (2007–2024)
This chart illustrates how Jiangsu Changbao Steeltube Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Jiangsu Changbao Steeltube Co Ltd assets under control for the complete picture of this company's asset base.
Annual Net Assets for Jiangsu Changbao Steeltube Co Ltd (2007–2024)
The table below shows the annual net assets of Jiangsu Changbao Steeltube Co Ltd from 2007 to 2024. For live valuation and market cap data, see market value of Jiangsu Changbao Steeltube Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥5.85 Billion ≈ $856.33 Million |
+8.16% |
| 2023-12-31 | CN¥5.41 Billion ≈ $791.71 Million |
+14.17% |
| 2022-12-31 | CN¥4.74 Billion ≈ $693.47 Million |
+8.04% |
| 2021-12-31 | CN¥4.39 Billion ≈ $641.87 Million |
-6.34% |
| 2020-12-31 | CN¥4.68 Billion ≈ $685.33 Million |
-5.96% |
| 2019-12-31 | CN¥4.98 Billion ≈ $728.78 Million |
+11.98% |
| 2018-12-31 | CN¥4.45 Billion ≈ $650.81 Million |
+12.28% |
| 2017-12-31 | CN¥3.96 Billion ≈ $579.61 Million |
+25.65% |
| 2016-12-31 | CN¥3.15 Billion ≈ $461.27 Million |
+1.68% |
| 2015-12-31 | CN¥3.10 Billion ≈ $453.64 Million |
+1.17% |
| 2014-12-31 | CN¥3.06 Billion ≈ $448.40 Million |
+6.57% |
| 2013-12-31 | CN¥2.88 Billion ≈ $420.74 Million |
+6.87% |
| 2012-12-31 | CN¥2.69 Billion ≈ $393.69 Million |
+4.04% |
| 2011-12-31 | CN¥2.59 Billion ≈ $378.42 Million |
+9.97% |
| 2010-12-31 | CN¥2.35 Billion ≈ $344.11 Million |
+120.08% |
| 2009-12-31 | CN¥1.07 Billion ≈ $156.36 Million |
+23.10% |
| 2008-12-31 | CN¥868.03 Million ≈ $127.02 Million |
+74.71% |
| 2007-12-31 | CN¥496.84 Million ≈ $72.70 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Jiangsu Changbao Steeltube 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 1614.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥2.92 Billion | 51.85% |
| Common Stock | CN¥901.35 Million | 15.99% |
| Other Components | CN¥1.81 Billion | 32.17% |
| Total Equity | CN¥5.64 Billion | 100.00% |
Jiangsu Changbao Steeltube Co Ltd Competitors by Market Cap
The table below lists competitors of Jiangsu Changbao Steeltube Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Taiyuan Heavy Industry Co Ltd
SHG:600169
|
$1.17 Billion |
|
CHINA RISUN GROUP HD-10
F:45Y
|
$1.17 Billion |
|
Beijing Shenzhou Aerospace Software Technology Co. Ltd. A
SHG:688562
|
$1.17 Billion |
|
Trinity Capital Inc
NASDAQ:TRIN
|
$1.17 Billion |
|
Tetra Technologies Inc
NYSE:TTI
|
$1.16 Billion |
|
Fujian Boss Software Development Co Ltd
SHE:300525
|
$1.16 Billion |
|
Shenyang Toly Bread Co Ltd
SHG:603866
|
$1.16 Billion |
|
Wuhan Huazhong Numerical Control Co Ltd
SHE:300161
|
$1.16 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Jiangsu Changbao Steeltube Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,228,554,000 to 5,638,562,000, a change of 410,008,000 (7.8%).
- Net income of 634,215,249 contributed positively to equity growth.
- Dividend payments of 255,591,000 reduced retained earnings.
- Share repurchases of 30,076,566 reduced equity.
- Other factors increased equity by 61,460,317.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥634.22 Million | +11.25% |
| Dividends Paid | CN¥255.59 Million | -4.53% |
| Share Repurchases | CN¥30.08 Million | -0.53% |
| Other Changes | CN¥61.46 Million | +1.09% |
| Total Change | CN¥- | 7.84% |
Book Value vs Market Value Analysis
This analysis compares Jiangsu Changbao Steeltube 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: 1.42x
- 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 12.50x to 1.42x 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¥0.71 | CN¥8.84 | x |
| 2008-12-31 | CN¥1.09 | CN¥8.84 | x |
| 2009-12-31 | CN¥1.36 | CN¥8.84 | x |
| 2010-12-31 | CN¥3.16 | CN¥8.84 | x |
| 2011-12-31 | CN¥2.94 | CN¥8.84 | x |
| 2012-12-31 | CN¥3.18 | CN¥8.84 | x |
| 2013-12-31 | CN¥3.38 | CN¥8.84 | x |
| 2014-12-31 | CN¥3.54 | CN¥8.84 | x |
| 2015-12-31 | CN¥3.74 | CN¥8.84 | x |
| 2016-12-31 | CN¥3.70 | CN¥8.84 | x |
| 2017-12-31 | CN¥4.40 | CN¥8.84 | x |
| 2018-12-31 | CN¥4.05 | CN¥8.84 | x |
| 2019-12-31 | CN¥4.68 | CN¥8.84 | x |
| 2020-12-31 | CN¥4.64 | CN¥8.84 | x |
| 2021-12-31 | CN¥4.68 | CN¥8.84 | x |
| 2022-12-31 | CN¥5.06 | CN¥8.84 | x |
| 2023-12-31 | CN¥5.88 | CN¥8.84 | x |
| 2024-12-31 | CN¥6.22 | CN¥8.84 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Jiangsu Changbao Steeltube 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): 11.25%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.13%
- • Asset Turnover: 0.69x
- • Equity Multiplier: 1.47x
- Recent ROE (11.25%) is below the historical average (11.96%), 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 | 31.83% | 8.95% | 1.31x | 2.72x | CN¥101.18 Million |
| 2008 | 36.32% | 7.77% | 1.23x | 3.80x | CN¥190.00 Million |
| 2009 | 21.36% | 8.89% | 0.96x | 2.50x | CN¥102.53 Million |
| 2010 | 8.40% | 6.36% | 0.80x | 1.65x | CN¥-34.96 Million |
| 2011 | 9.69% | 6.18% | 1.24x | 1.27x | CN¥-7.26 Million |
| 2012 | 8.18% | 6.01% | 1.02x | 1.33x | CN¥-46.06 Million |
| 2013 | 8.44% | 5.69% | 1.08x | 1.38x | CN¥-41.94 Million |
| 2014 | 8.61% | 6.51% | 0.95x | 1.39x | CN¥-39.71 Million |
| 2015 | 6.95% | 7.05% | 0.74x | 1.33x | CN¥-90.35 Million |
| 2016 | 3.65% | 4.97% | 0.56x | 1.31x | CN¥-190.57 Million |
| 2017 | 3.86% | 4.11% | 0.62x | 1.53x | CN¥-228.52 Million |
| 2018 | 12.09% | 8.93% | 0.84x | 1.62x | CN¥82.89 Million |
| 2019 | 13.47% | 11.37% | 0.77x | 1.53x | CN¥154.87 Million |
| 2020 | 2.80% | 3.14% | 0.57x | 1.56x | CN¥-317.70 Million |
| 2021 | 3.20% | 3.21% | 0.61x | 1.64x | CN¥-288.16 Million |
| 2022 | 10.29% | 7.57% | 0.85x | 1.60x | CN¥13.09 Million |
| 2023 | 14.98% | 11.76% | 0.85x | 1.50x | CN¥260.17 Million |
| 2024 | 11.25% | 11.13% | 0.69x | 1.47x | CN¥70.36 Million |
Industry Comparison
This section compares Jiangsu Changbao Steeltube Co Ltd's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $21,033,016,152
- Average return on equity (ROE) among peers: 14.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Jiangsu Changbao Steeltube Co Ltd (002478) | CN¥5.91 Billion | 31.83% | 0.51x | $1.17 Billion |
| CITIC Pacific Special Steel Group Co Ltd (000708) | $25.28 Billion | 21.31% | 1.87x | $11.51 Billion |
| HBIS Co Ltd (000709) | $46.63 Billion | 3.34% | 2.99x | $3.60 Billion |
| Sgis Songshan Co Ltd (000717) | $2.97 Billion | 84.66% | 3.85x | $883.17 Million |
| Bengang Steel Plates Co Ltd (000761) | $15.05 Billion | 6.15% | 1.38x | $1.58 Billion |
| Xinxing Ductile Iron Pipes Co Ltd (000778) | $28.18 Billion | 0.59% | 0.89x | $2.60 Billion |
| Shanxi Taigang Stainless Steel Co Ltd (000825) | $21.29 Billion | 5.80% | 2.06x | $3.63 Billion |
| Jiangsu Fasten Co Ltd (000890) | $223.45 Million | 31.03% | 7.78x | $867.39 Million |
| Angang Steel Co Ltd Class A (000898) | $48.20 Billion | 1.93% | 0.89x | $2.69 Billion |
| Hunan Valin Steel Co Ltd (000932) | $14.49 Billion | -18.24% | 4.16x | $4.74 Billion |
| Beijing Shougang Co Ltd (000959) | $8.03 Billion | 7.94% | 1.27x | $5.15 Billion |
About Jiangsu Changbao Steeltube Co Ltd
Jiangsu Changbao Steeltube Co.,Ltd manufactures and sells steel tubes in the People's Republic of China and internationally. The company offers OCTG products for petroleum industry, including connection tubing and casings, coupling stocks, perforation gun carrier pipes, petroleum tool pipes, drill and green pipes, and slotted pipes; boiler tubes for power generation, such as boiler tubes, water h… Read more