Qinghai Huzhu Barley Wine Co Ltd (002646) - Net Assets

Latest as of March 2026: CN¥2.86 Billion CNY ≈ $419.09 Million USD

Based on the latest financial reports, Qinghai Huzhu Barley Wine Co Ltd (002646) has net assets worth CN¥2.86 Billion CNY (≈ $419.09 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¥3.19 Billion ≈ $466.80 Million USD) and total liabilities (CN¥326.00 Million ≈ $47.70 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 tangible equity quality of Qinghai Huzhu Barley Wine Co Ltd to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥2.86 Billion
% of Total Assets	89.78%
Annual Growth Rate	19.46%
5-Year Change	4.4%
10-Year Change	14.19%
Growth Volatility	64.49

Qinghai Huzhu Barley Wine Co Ltd - Net Assets Trend (2008–2025)

This chart illustrates how Qinghai Huzhu Barley Wine Co Ltd's net assets have evolved over time, based on quarterly financial data. See 002646 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Qinghai Huzhu Barley Wine Co Ltd (2008–2025)

The table below shows the annual net assets of Qinghai Huzhu Barley Wine Co Ltd from 2008 to 2025. For live valuation and market cap data, see 002646 market cap overview.

Year	Net Assets	Change
2025-12-31	CN¥2.81 Billion ≈ $411.80 Million	+0.67%
2024-12-31	CN¥2.80 Billion ≈ $409.04 Million	-0.29%
2023-12-31	CN¥2.80 Billion ≈ $410.21 Million	+2.47%
2022-12-31	CN¥2.74 Billion ≈ $400.34 Million	+1.49%
2021-12-31	CN¥2.70 Billion ≈ $394.46 Million	+20.89%
2020-12-31	CN¥2.23 Billion ≈ $326.29 Million	-5.56%
2019-12-31	CN¥2.36 Billion ≈ $345.52 Million	-0.66%
2018-12-31	CN¥2.38 Billion ≈ $347.82 Million	+3.45%
2017-12-31	CN¥2.30 Billion ≈ $336.22 Million	-6.76%
2016-12-31	CN¥2.46 Billion ≈ $360.62 Million	+5.43%
2015-12-31	CN¥2.34 Billion ≈ $342.04 Million	+5.08%
2014-12-31	CN¥2.22 Billion ≈ $325.49 Million	+8.94%
2013-12-31	CN¥2.04 Billion ≈ $298.79 Million	+14.65%
2012-12-31	CN¥1.78 Billion ≈ $260.61 Million	+13.47%
2011-12-31	CN¥1.57 Billion ≈ $229.66 Million	+245.78%
2010-12-31	CN¥453.90 Million ≈ $66.42 Million	+149.48%
2009-12-31	CN¥181.94 Million ≈ $26.62 Million	+32.93%
2008-12-31	CN¥136.87 Million ≈ $20.03 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Qinghai Huzhu Barley Wine 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 2293.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥876.54 Million	30.94%
Other Components	CN¥1.96 Billion	69.06%
Total Equity	CN¥2.83 Billion	100.00%

Qinghai Huzhu Barley Wine Co Ltd Competitors by Market Cap

The table below lists competitors of Qinghai Huzhu Barley Wine Co Ltd ranked by their market capitalization.

Company	Market Cap
Alltek Technology Corp TW:3209	$462.02 Million
BANK OG TIANJIN H YC1 F:B95	$462.11 Million
Shengjing Bank Co. Ltd F:6SY	$462.48 Million
Ensign Energy Services Inc TO:ESI	$462.75 Million
Minto Apartment Real Estate Investment Trust TO:MI-UN	$461.89 Million
Tengda Construction Group Co Ltd SHG:600512	$461.78 Million
XiAn Typical Industries Co Ltd SHG:600302	$461.76 Million
Runa Smart Equipment Co. Ltd. SHE:301129	$461.75 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Qinghai Huzhu Barley Wine Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 2,814,061,051 to 2,832,894,965, a change of 18,833,914 (0.7%).
Net income of 4,298,089 contributed positively to equity growth.
Dividend payments of 6,762,904 reduced retained earnings.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥4.30 Million	+0.15%
Dividends Paid	CN¥6.76 Million	-0.24%
Other Changes	CN¥21.30 Million	+0.75%
Total Change	CN¥-	0.67%

Book Value vs Market Value Analysis

This analysis compares Qinghai Huzhu Barley Wine 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: 1.11x
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 15.68x to 1.11x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2008-12-31	CN¥0.42	CN¥6.59	x
2009-12-31	CN¥0.55	CN¥6.59	x
2010-12-31	CN¥1.27	CN¥6.59	x
2011-12-31	CN¥4.02	CN¥6.59	x
2012-12-31	CN¥3.96	CN¥6.59	x
2013-12-31	CN¥4.54	CN¥6.59	x
2014-12-31	CN¥4.94	CN¥6.59	x
2015-12-31	CN¥5.21	CN¥6.59	x
2016-12-31	CN¥5.50	CN¥6.59	x
2017-12-31	CN¥5.13	CN¥6.59	x
2018-12-31	CN¥5.31	CN¥6.59	x
2019-12-31	CN¥5.27	CN¥6.59	x
2020-12-31	CN¥4.99	CN¥6.59	x
2021-12-31	CN¥5.91	CN¥6.59	x
2022-12-31	CN¥5.84	CN¥6.59	x
2023-12-31	CN¥5.95	CN¥6.59	x
2024-12-31	CN¥5.89	CN¥6.59	x
2025-12-31	CN¥5.91	CN¥6.59	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Qinghai Huzhu Barley Wine 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): 0.15%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 0.39%
• Asset Turnover: 0.35x
• Equity Multiplier: 1.13x
Recent ROE (0.15%) is below the historical average (12.10%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2008	36.00%	20.31%	0.99x	1.78x	CN¥35.52 Million
2009	63.74%	26.55%	1.34x	1.78x	CN¥95.76 Million
2010	29.86%	22.71%	0.84x	1.56x	CN¥90.15 Million
2011	13.48%	25.14%	0.47x	1.15x	CN¥54.68 Million
2012	16.93%	25.19%	0.56x	1.21x	CN¥123.35 Million
2013	18.29%	25.97%	0.60x	1.17x	CN¥169.20 Million
2014	14.26%	23.41%	0.54x	1.13x	CN¥94.83 Million
2015	9.85%	16.94%	0.50x	1.16x	CN¥-3.50 Million
2016	8.72%	15.04%	0.45x	1.28x	CN¥-31.58 Million
2017	-4.08%	-7.14%	0.49x	1.15x	CN¥-325.04 Million
2018	4.50%	7.98%	0.46x	1.23x	CN¥-131.44 Million
2019	1.52%	2.88%	0.45x	1.18x	CN¥-201.11 Million
2020	-5.13%	-15.07%	0.29x	1.19x	CN¥-339.63 Million
2021	2.33%	6.00%	0.33x	1.19x	CN¥-208.33 Million
2022	2.74%	7.72%	0.31x	1.16x	CN¥-200.10 Million
2023	3.17%	7.40%	0.36x	1.18x	CN¥-192.63 Million
2024	1.50%	3.36%	0.38x	1.19x	CN¥-239.27 Million
2025	0.15%	0.39%	0.35x	1.13x	CN¥-278.99 Million

Industry Comparison

This section compares Qinghai Huzhu Barley Wine Co Ltd's net assets metrics with peer companies in the Beverages - Wineries & Distilleries industry.

Industry Context

Industry: Beverages - Wineries & Distilleries
Average net assets among peers: $23,647,857,296
Average return on equity (ROE) among peers: 15.57%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Qinghai Huzhu Barley Wine Co Ltd (002646)	CN¥2.86 Billion	36.00%	0.11x	$462.02 Million
Luzhou Lao Jiao Co Ltd (000568)	$1.29 Billion	5.66%	0.67x	$17.43 Billion
Anhui Gujing Distillery Co Ltd (000596)	$3.38 Billion	21.50%	0.57x	$4.89 Billion
Jiugui Liquor Co Ltd (000799)	$577.01 Million	10.82%	1.28x	$1.87 Billion
Wuliangye Yibin Co Ltd (000858)	$132.35 Billion	22.83%	0.25x	$43.08 Billion
Beijing Shunxin Agriculture Co Ltd (000860)	$7.05 Billion	3.28%	1.13x	$1.09 Billion
Yantai Changyu Pioneer Wine Co Ltd (000869)	$6.06 Billion	28.07%	0.34x	$1.12 Billion
Jiangsu Yanghe Brewery Joint-Stock Co Ltd (002304)	$52.05 Billion	19.24%	0.34x	$9.04 Billion
Shanghai Bairun Flavor & Fragrance Co Ltd (002568)	$640.01 Million	6.54%	0.02x	$2.54 Billion
Anhui Gujing Distillery Co Ltd (200596)	$9.43 Billion	22.24%	0.47x	$825.51 Million

About Qinghai Huzhu Barley Wine Co Ltd

SHE:002646 China Beverages - Wineries & Distilleries

Market Cap

$462.02 Million

CN¥3.16 Billion CNY

Market Cap Rank

#12835 Global

#3808 in China

Share Price

CN¥6.59

Change (1 day)

-0.75%

52-Week Range

CN¥6.59 - CN¥10.54

All Time High

CN¥27.29