Tianshan Aluminum Group Co Ltd (002532) - Net Assets

Latest as of December 2025: CN¥29.56 Billion CNY ≈ $4.33 Billion USD

Based on the latest financial reports, Tianshan Aluminum Group Co Ltd (002532) has net assets worth CN¥29.56 Billion CNY (≈ $4.33 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥54.15 Billion ≈ $7.92 Billion USD) and total liabilities (CN¥24.59 Billion ≈ $3.60 Billion 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 how resilient are Tianshan Aluminum Group Co Ltd's assets to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥29.56 Billion
% of Total Assets	54.6%
Annual Growth Rate	40.08%
5-Year Change	39.0%
10-Year Change	2048.31%
Growth Volatility	195.12

Tianshan Aluminum Group Co Ltd - Net Assets Trend (2007–2025)

This chart illustrates how Tianshan Aluminum Group Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 002532 total asset value for the complete picture of this company's asset base.

Annual Net Assets for Tianshan Aluminum Group Co Ltd (2007–2025)

The table below shows the annual net assets of Tianshan Aluminum Group Co Ltd from 2007 to 2025. For live valuation and market cap data, see 002532 market cap overview.

Year	Net Assets	Change
2025-12-31	CN¥29.56 Billion ≈ $4.33 Billion	+10.17%
2024-12-31	CN¥26.83 Billion ≈ $3.93 Billion	+11.30%
2023-12-31	CN¥24.11 Billion ≈ $3.53 Billion	+5.25%
2022-12-31	CN¥22.91 Billion ≈ $3.35 Billion	+7.70%
2021-12-31	CN¥21.27 Billion ≈ $3.11 Billion	+10.21%
2020-12-31	CN¥19.30 Billion ≈ $2.82 Billion	+54.07%
2019-12-31	CN¥12.53 Billion ≈ $1.83 Billion	+780.89%
2018-12-31	CN¥1.42 Billion ≈ $208.08 Million	-2.23%
2017-12-31	CN¥1.45 Billion ≈ $212.83 Million	+5.69%
2016-12-31	CN¥1.38 Billion ≈ $201.37 Million	+7.16%
2015-12-31	CN¥1.28 Billion ≈ $187.91 Million	+11.50%
2014-12-31	CN¥1.15 Billion ≈ $168.52 Million	+7.61%
2013-12-31	CN¥1.07 Billion ≈ $156.61 Million	+11.62%
2012-12-31	CN¥958.82 Million ≈ $140.30 Million	+13.49%
2011-12-31	CN¥844.87 Million ≈ $123.63 Million	+8.57%
2010-12-31	CN¥778.15 Million ≈ $113.87 Million	+432.28%
2009-12-31	CN¥146.19 Million ≈ $21.39 Million	+50.83%
2008-12-31	CN¥96.92 Million ≈ $14.18 Million	+41.44%
2007-12-31	CN¥68.52 Million ≈ $10.03 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Tianshan Aluminum 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 81831.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥15.15 Billion	51.23%
Other Components	CN¥14.42 Billion	48.77%
Total Equity	CN¥29.57 Billion	100.00%

Tianshan Aluminum Group Co Ltd Competitors by Market Cap

The table below lists competitors of Tianshan Aluminum Group Co Ltd ranked by their market capitalization.

Company	Market Cap
SK Holdings 1p Pref KO:03473K	$11.27 Billion
A.P.MOELL-M.B U.ADR 1/200 F:DP4H	$11.30 Billion
AtkinsRealis Group Inc TO:ATRL	$11.31 Billion
Embraer S.A. NYSE:EMBJ	$11.31 Billion
Fuzhou Rockchip Electronics Co Ltd SHG:603893	$11.27 Billion
CITIC Pacific Special Steel Group Co Ltd SHE:000708	$11.26 Billion
Grupo Aeroportuario del Pacifico SAB De CV ADR NYSE:PAC	$11.25 Billion
Huaneng Power International Inc SHG:600011	$11.25 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Tianshan Aluminum Group Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 26,831,388,895 to 29,567,404,713, a change of 2,736,015,818 (10.2%).
Net income of 4,817,847,502 contributed positively to equity growth.
Dividend payments of 2,356,302,189 reduced retained earnings.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥4.82 Billion	+16.29%
Dividends Paid	CN¥2.36 Billion	-7.97%
Other Changes	CN¥274.47 Million	+0.93%
Total Change	CN¥-	10.20%

Book Value vs Market Value Analysis

This analysis compares Tianshan Aluminum 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: 2.60x
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 126.16x to 2.60x 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¥0.13	CN¥16.64	x
2008-12-31	CN¥0.19	CN¥16.64	x
2009-12-31	CN¥0.28	CN¥16.64	x
2010-12-31	CN¥2.02	CN¥16.64	x
2011-12-31	CN¥1.62	CN¥16.64	x
2012-12-31	CN¥1.76	CN¥16.64	x
2013-12-31	CN¥1.97	CN¥16.64	x
2014-12-31	CN¥2.12	CN¥16.64	x
2015-12-31	CN¥2.35	CN¥16.64	x
2016-12-31	CN¥2.52	CN¥16.64	x
2017-12-31	CN¥2.74	CN¥16.64	x
2018-12-31	CN¥2.74	CN¥16.64	x
2019-12-31	CN¥24.89	CN¥16.64	x
2020-12-31	CN¥5.15	CN¥16.64	x
2021-12-31	CN¥4.57	CN¥16.64	x
2022-12-31	CN¥4.95	CN¥16.64	x
2023-12-31	CN¥5.21	CN¥16.64	x
2024-12-31	CN¥5.82	CN¥16.64	x
2025-12-31	CN¥6.39	CN¥16.64	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Tianshan Aluminum 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): 16.29%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 16.33%
• Asset Turnover: 0.54x
• Equity Multiplier: 1.83x
Recent ROE (16.29%) is above the historical average (14.60%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2007	40.29%	7.49%	1.63x	3.31x	CN¥20.45 Million
2008	28.92%	6.64%	1.66x	2.62x	CN¥17.97 Million
2009	32.63%	10.52%	1.54x	2.01x	CN¥32.66 Million
2010	7.62%	10.43%	0.56x	1.29x	CN¥-18.46 Million
2011	7.27%	7.87%	0.74x	1.26x	CN¥-22.58 Million
2012	9.58%	9.16%	0.74x	1.41x	CN¥-3.74 Million
2013	12.00%	10.76%	0.79x	1.40x	CN¥20.16 Million
2014	8.07%	7.66%	0.76x	1.39x	CN¥-20.91 Million
2015	9.76%	0.54%	13.37x	1.35x	CN¥-2.91 Million
2016	8.97%	8.85%	0.57x	1.77x	CN¥-13.37 Million
2017	9.17%	8.65%	0.76x	1.40x	CN¥-11.78 Million
2018	9.48%	8.73%	0.76x	1.44x	CN¥-7.14 Million
2019	11.99%	4.61%	0.80x	3.27x	CN¥248.63 Million
2020	9.91%	6.96%	0.54x	2.62x	CN¥-17.34 Million
2021	18.02%	13.33%	0.54x	2.51x	CN¥1.71 Billion
2022	11.57%	8.03%	0.58x	2.50x	CN¥360.11 Million
2023	9.15%	7.61%	0.51x	2.37x	CN¥-205.38 Million
2024	16.61%	15.86%	0.49x	2.12x	CN¥1.77 Billion
2025	16.29%	16.33%	0.54x	1.83x	CN¥1.86 Billion

Industry Comparison

This section compares Tianshan Aluminum Group Co Ltd's net assets metrics with peer companies in the Aluminum industry.

Industry Context

Industry: Aluminum
Average net assets among peers: $1,976,915,041
Average return on equity (ROE) among peers: 8.81%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Tianshan Aluminum Group Co Ltd (002532)	CN¥29.56 Billion	40.29%	0.83x	$11.27 Billion
Jiaozuo Wanfang Aluminum (000612)	$4.31 Billion	2.47%	0.63x	$2.32 Billion
Yunnan Aluminium Co Ltd (000807)	$1.32 Billion	11.50%	1.08x	$16.14 Billion
Henan Shenhuo Coal & Power Co Ltd (000933)	$770.05 Million	10.06%	0.35x	$10.57 Billion
Guangdong Hongtu Technology Holdings Co Ltd (002101)	$4.89 Billion	6.88%	0.74x	$973.16 Million
Jiangsu Alcha Aluminium Co Ltd (002160)	$3.03 Billion	0.73%	0.98x	$737.51 Million
Nanjing Yunhai Special Metals Co Ltd (002182)	$1.09 Billion	0.35%	1.17x	$2.28 Billion
ZYF Lopsking Aluminum Co Ltd (002333)	$1.91 Billion	2.73%	0.70x	$543.19 Million
Shandong Hongchuang Aluminum Industry Holding Co Ltd (002379)	$177.45 Million	25.62%	2.25x	$47.48 Billion
Jilin Liyuan Precision Manufacturing Co Ltd (002501)	$282.59 Million	18.96%	1.83x	$768.83 Million

About Tianshan Aluminum Group Co Ltd

SHE:002532 China Aluminum

Market Cap

$11.27 Billion

CN¥77.02 Billion CNY

Market Cap Rank

#2047 Global

#233 in China

Share Price

CN¥16.64

Change (1 day)

-4.09%

52-Week Range

CN¥7.41 - CN¥20.72

All Time High

CN¥20.72