Guangdong Piano Customized Furniture Co Ltd (002853) - Net Assets
Based on the latest financial reports, Guangdong Piano Customized Furniture Co Ltd (002853) has net assets worth CN¥878.33 Million CNY (≈ $128.53 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¥1.42 Billion ≈ $207.61 Million USD) and total liabilities (CN¥540.43 Million ≈ $79.08 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 net worth ratio of Guangdong Piano Customized Furniture Co to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥878.33 Million |
| % of Total Assets | 61.91% |
| Annual Growth Rate | 21.22% |
| 5-Year Change | -22.64% |
| 10-Year Change | 133.74% |
| Growth Volatility | 50.49 |
Guangdong Piano Customized Furniture Co Ltd - Net Assets Trend (2012–2025)
This chart illustrates how Guangdong Piano Customized Furniture Co Ltd's net assets have evolved over time, based on quarterly financial data. See 002853 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Guangdong Piano Customized Furniture Co Ltd (2012–2025)
The table below shows the annual net assets of Guangdong Piano Customized Furniture Co Ltd from 2012 to 2025. For live valuation and market cap data, see market cap of Guangdong Piano Customized Furniture Co .
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥889.80 Million ≈ $130.21 Million |
-4.48% |
| 2024-12-31 | CN¥931.54 Million ≈ $136.31 Million |
-30.81% |
| 2023-12-31 | CN¥1.35 Billion ≈ $197.01 Million |
+6.70% |
| 2022-12-31 | CN¥1.26 Billion ≈ $184.64 Million |
+9.71% |
| 2021-12-31 | CN¥1.15 Billion ≈ $168.31 Million |
-42.72% |
| 2020-12-31 | CN¥2.01 Billion ≈ $293.84 Million |
+61.62% |
| 2019-12-31 | CN¥1.24 Billion ≈ $181.82 Million |
+13.09% |
| 2018-12-31 | CN¥1.10 Billion ≈ $160.76 Million |
+15.51% |
| 2017-12-31 | CN¥951.10 Million ≈ $139.18 Million |
+149.85% |
| 2016-12-31 | CN¥380.68 Million ≈ $55.70 Million |
+22.11% |
| 2015-12-31 | CN¥311.75 Million ≈ $45.62 Million |
+28.18% |
| 2014-12-31 | CN¥243.22 Million ≈ $35.59 Million |
+97.72% |
| 2013-12-31 | CN¥123.02 Million ≈ $18.00 Million |
+68.74% |
| 2012-12-31 | CN¥72.90 Million ≈ $10.67 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Guangdong Piano Customized Furniture 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 decreased by 1103.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CN¥1.29 Billion | 143.15% |
| Total Equity | CN¥900.70 Million | 100.00% |
Guangdong Piano Customized Furniture Co Ltd Competitors by Market Cap
The table below lists competitors of Guangdong Piano Customized Furniture Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Latham Group Inc
NASDAQ:SWIM
|
$619.93 Million |
|
Jiangxi Chen Guang New Materials Co Ltd
SHG:605399
|
$619.95 Million |
|
Hyundai Bioscience Co. Ltd
KQ:048410
|
$620.25 Million |
|
Thunder Tiger Corp
TW:8033
|
$620.32 Million |
|
Shenzhen Neptunus Bioengineering Co Ltd
SHE:000078
|
$619.88 Million |
|
Tipco Asphalt Public Company Limited
F:NVP5
|
$619.71 Million |
|
SNP Schneider-Neureither & Partner SE
XETRA:SHF
|
$619.59 Million |
|
Shinkong Textile Co Ltd
TW:1419
|
$619.39 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Guangdong Piano Customized Furniture Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 939,385,447 to 900,700,323, a change of -38,685,124 (-4.1%).
- Net loss of 38,685,125 reduced equity.
- Dividend payments of 188,978 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-38.69 Million | -4.3% |
| Dividends Paid | CN¥188.98K | -0.02% |
| Other Changes | CN¥188.98K | +0.02% |
| Total Change | CN¥- | -4.12% |
Book Value vs Market Value Analysis
This analysis compares Guangdong Piano Customized Furniture 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: 4.70x
- 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 23.83x to 4.70x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | CN¥0.97 | CN¥23.16 | x |
| 2013-12-31 | CN¥1.64 | CN¥23.16 | x |
| 2014-12-31 | CN¥2.27 | CN¥23.16 | x |
| 2015-12-31 | CN¥2.67 | CN¥23.16 | x |
| 2016-12-31 | CN¥2.74 | CN¥23.16 | x |
| 2017-12-31 | CN¥5.93 | CN¥23.16 | x |
| 2018-12-31 | CN¥6.59 | CN¥23.16 | x |
| 2019-12-31 | CN¥7.57 | CN¥23.16 | x |
| 2020-12-31 | CN¥12.39 | CN¥23.16 | x |
| 2021-12-31 | CN¥6.17 | CN¥23.16 | x |
| 2022-12-31 | CN¥6.75 | CN¥23.16 | x |
| 2023-12-31 | CN¥7.23 | CN¥23.16 | x |
| 2024-12-31 | CN¥5.04 | CN¥23.16 | x |
| 2025-12-31 | CN¥4.92 | CN¥23.16 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Guangdong Piano Customized Furniture 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): -4.30%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -6.83%
- • Asset Turnover: 0.41x
- • Equity Multiplier: 1.55x
- Recent ROE (-4.30%) is below the historical average (8.07%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 35.63% | 8.45% | 1.60x | 2.63x | CN¥18.68 Million |
| 2013 | 44.70% | 13.08% | 1.30x | 2.62x | CN¥42.69 Million |
| 2014 | 26.39% | 12.76% | 1.28x | 1.61x | CN¥39.87 Million |
| 2015 | 21.98% | 13.38% | 0.99x | 1.65x | CN¥37.35 Million |
| 2016 | 23.00% | 13.89% | 0.98x | 1.69x | CN¥49.47 Million |
| 2017 | 11.31% | 12.46% | 0.62x | 1.47x | CN¥11.90 Million |
| 2018 | 13.81% | 12.80% | 0.70x | 1.54x | CN¥39.19 Million |
| 2019 | 14.92% | 11.91% | 0.73x | 1.71x | CN¥57.78 Million |
| 2020 | 10.25% | 13.19% | 0.48x | 1.63x | CN¥4.86 Million |
| 2021 | -63.33% | -39.96% | 0.76x | 2.08x | CN¥-843.84 Million |
| 2022 | 12.15% | 10.58% | 0.60x | 1.91x | CN¥27.13 Million |
| 2023 | 6.37% | 6.53% | 0.57x | 1.71x | CN¥-49.09 Million |
| 2024 | -39.89% | -42.30% | 0.58x | 1.64x | CN¥-468.70 Million |
| 2025 | -4.30% | -6.83% | 0.41x | 1.55x | CN¥-128.76 Million |
Industry Comparison
This section compares Guangdong Piano Customized Furniture Co Ltd's net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.
Industry Context
- Industry: Furnishings, Fixtures & Appliances
- Average net assets among peers: $5,863,909,792
- Average return on equity (ROE) among peers: 13.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Guangdong Piano Customized Furniture Co Ltd (002853) | CN¥878.33 Million | 35.63% | 0.62x | $619.91 Million |
| Midea Group Co Ltd (000333) | $30.15 Billion | 11.44% | 2.00x | $82.29 Billion |
| Changhong Meiling Co Ltd (000521) | $930.83 Million | 1.90% | 2.16x | $759.96 Million |
| Gree Electric Appliances Inc of Zhuhai (000651) | $3.15 Billion | 21.99% | 4.08x | $31.03 Billion |
| Hisense Kelon Electrical Holdings Co Ltd (000921) | $14.41 Billion | 10.96% | 1.90x | $3.85 Billion |
| Suncha Technology Co Ltd (001211) | $874.84 Million | -1.36% | 0.86x | $397.31 Million |
| Elec-Tech International Co Ltd (002005) | $192.40 Million | 37.34% | 2.03x | $705.20 Million |
| Zhejiang Supor Co Ltd (002032) | $4.56 Billion | 23.64% | 0.72x | $4.97 Billion |
| Vatti Corp Ltd (002035) | $3.23 Billion | 12.61% | 0.81x | $622.67 Million |
| CNlight Co Ltd (002076) | $401.07 Million | 3.08% | 0.32x | $413.86 Million |
| Guangzhou Seagull Kitchen And Bath Products Co Ltd (002084) | $750.18 Million | 12.65% | 0.85x | $310.09 Million |
About Guangdong Piano Customized Furniture Co Ltd
Guangdong Piano Customized Furniture Co., Ltd., together with its subsidiaries, engages in the research, design, development, production, and sale of furniture in China. It offers customized cabinets, wardrobes, wooden doors, and other supporting home products; and provides installation and after-sales services. The company was founded in 2005 and is headquartered in Zhongshan, China.