New Hope Dairy Co Ltd (002946) - Net Assets
Based on the latest financial reports, New Hope Dairy Co Ltd (002946) has net assets worth CN¥3.75 Billion CNY (≈ $549.14 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¥9.38 Billion ≈ $1.37 Billion USD) and total liabilities (CN¥5.62 Billion ≈ $822.97 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 New Hope Dairy Co Ltd tangible equity quality to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥3.75 Billion |
| % of Total Assets | 40.02% |
| Annual Growth Rate | 20.91% |
| 5-Year Change | 9.85% |
| 10-Year Change | 127.25% |
| Growth Volatility | 57.66 |
New Hope Dairy Co Ltd - Net Assets Trend (2014–2024)
This chart illustrates how New Hope Dairy Co Ltd's net assets have evolved over time, based on quarterly financial data. See New Hope Dairy Co Ltd defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for New Hope Dairy Co Ltd (2014–2024)
The table below shows the annual net assets of New Hope Dairy Co Ltd from 2014 to 2024. For live valuation and market cap data, see 002946 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥3.14 Billion ≈ $459.83 Million |
+19.06% |
| 2023-12-31 | CN¥2.64 Billion ≈ $386.23 Million |
-1.00% |
| 2022-12-31 | CN¥2.67 Billion ≈ $390.14 Million |
-7.08% |
| 2021-12-31 | CN¥2.87 Billion ≈ $419.87 Million |
+0.30% |
| 2020-12-31 | CN¥2.86 Billion ≈ $418.62 Million |
+39.12% |
| 2019-12-31 | CN¥2.06 Billion ≈ $300.91 Million |
+33.34% |
| 2018-12-31 | CN¥1.54 Billion ≈ $225.67 Million |
+17.75% |
| 2017-12-31 | CN¥1.31 Billion ≈ $191.66 Million |
+22.49% |
| 2016-12-31 | CN¥1.07 Billion ≈ $156.47 Million |
-22.67% |
| 2015-12-31 | CN¥1.38 Billion ≈ $202.34 Million |
+193.82% |
| 2014-12-31 | CN¥470.63 Million ≈ $68.87 Million |
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Equity Component Analysis
This analysis shows how different components contribute to New Hope Dairy 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 214588394500.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥2.05 Billion | 67.00% |
| Common Stock | CN¥860.67 Million | 28.17% |
| Other Comprehensive Income | CN¥-374.62 Million | -12.26% |
| Other Components | CN¥522.11 Million | 17.09% |
| Total Equity | CN¥3.06 Billion | 100.00% |
New Hope Dairy Co Ltd Competitors by Market Cap
The table below lists competitors of New Hope Dairy Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Unisem M Bhd
KLSE:5005
|
$1.94 Billion |
|
Zhengzhou GL Tech Co Ltd
SHE:300480
|
$1.94 Billion |
|
The Jammu & Kashmir Bank Limited
NSE:J&KBANK
|
$1.94 Billion |
|
Dgb Financial
KO:139130
|
$1.94 Billion |
|
SPS Commerce Inc
NASDAQ:SPSC
|
$1.94 Billion |
|
Guangdong Guangzhou Daily Media Co Ltd
SHE:002181
|
$1.94 Billion |
|
Jinyu Bio-Technology Co Ltd
SHG:600201
|
$1.94 Billion |
|
OliX PharmaceuticalsInc
KQ:226950
|
$1.94 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in New Hope Dairy Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,557,020,138 to 3,055,379,360, a change of 498,359,222 (19.5%).
- Net income of 537,690,944 contributed positively to equity growth.
- Dividend payments of 223,988,701 reduced retained earnings.
- Share repurchases of 45,964,800 reduced equity.
- Other comprehensive income increased equity by 220,253,424.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥537.69 Million | +17.6% |
| Dividends Paid | CN¥223.99 Million | -7.33% |
| Share Repurchases | CN¥45.96 Million | -1.5% |
| Other Comprehensive Income | CN¥220.25 Million | +7.21% |
| Other Changes | CN¥10.37 Million | +0.34% |
| Total Change | CN¥- | 19.49% |
Book Value vs Market Value Analysis
This analysis compares New Hope Dairy 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: 4.37x
- 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 17.87x to 4.37x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | CN¥0.86 | CN¥15.39 | x |
| 2015-12-31 | CN¥2.51 | CN¥15.39 | x |
| 2016-12-31 | CN¥1.13 | CN¥15.39 | x |
| 2017-12-31 | CN¥1.60 | CN¥15.39 | x |
| 2018-12-31 | CN¥1.92 | CN¥15.39 | x |
| 2019-12-31 | CN¥2.34 | CN¥15.39 | x |
| 2020-12-31 | CN¥3.11 | CN¥15.39 | x |
| 2021-12-31 | CN¥3.09 | CN¥15.39 | x |
| 2022-12-31 | CN¥2.94 | CN¥15.39 | x |
| 2023-12-31 | CN¥2.97 | CN¥15.39 | x |
| 2024-12-31 | CN¥3.52 | CN¥15.39 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently New Hope Dairy 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): 17.60%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.04%
- • Asset Turnover: 1.20x
- • Equity Multiplier: 2.91x
- Recent ROE (17.60%) is above the historical average (15.72%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 13.93% | 1.67% | 1.21x | 6.87x | CN¥16.69 Million |
| 2015 | 25.07% | 7.72% | 0.96x | 3.38x | CN¥181.79 Million |
| 2016 | 15.99% | 3.71% | 0.91x | 4.75x | CN¥56.29 Million |
| 2017 | 18.11% | 5.03% | 1.01x | 3.57x | CN¥99.54 Million |
| 2018 | 16.63% | 4.88% | 1.17x | 2.91x | CN¥96.81 Million |
| 2019 | 12.38% | 4.29% | 1.06x | 2.72x | CN¥46.84 Million |
| 2020 | 10.21% | 4.02% | 0.79x | 3.23x | CN¥5.59 Million |
| 2021 | 11.84% | 3.48% | 0.94x | 3.60x | CN¥48.48 Million |
| 2022 | 14.34% | 3.61% | 1.05x | 3.77x | CN¥109.32 Million |
| 2023 | 16.85% | 3.92% | 1.23x | 3.50x | CN¥175.12 Million |
| 2024 | 17.60% | 5.04% | 1.20x | 2.91x | CN¥232.15 Million |
Industry Comparison
This section compares New Hope Dairy Co Ltd's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $726,002,317
- Average return on equity (ROE) among peers: 9.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| New Hope Dairy Co Ltd (002946) | CN¥3.75 Billion | 13.93% | 1.50x | $1.94 Billion |
| Shenzhen Shenbao Industrial Co Ltd (000019) | $289.64 Million | 0.97% | 0.47x | $1.00 Billion |
| Hainan Pearl River Holdings Co Ltd (000505) | $396.33 Million | 6.65% | 1.27x | $522.12 Million |
| Xiwang Foodstuffs Co Ltd (000639) | $79.91 Million | 6.40% | 1.37x | $214.82 Million |
| Nanfang Black Sesame Group Co Ltd (000716) | $355.06 Million | 1.69% | 1.09x | $488.06 Million |
| CNFC Overseas Fishery Co Ltd (000798) | $585.93 Million | 8.74% | 0.54x | $405.81 Million |
| Henan Shuanghui Investment & Development Co Ltd (000895) | $4.61 Billion | 23.64% | 0.55x | $11.69 Billion |
| Xinjiang Chalkis Co Ltd (000972) | $-254.89 Million | 0.00% | 0.00x | $393.89 Million |
| Zhengzhou Qianweiyangchu Food Co Ltd (001215) | $274.27 Million | 16.98% | 0.48x | $572.69 Million |
| Qingdao Foods Co Ltd (001219) | $857.75 Million | 7.93% | 0.09x | $353.51 Million |
| Shandong Oriental Ocean Sci-Tech Co Ltd (002086) | $67.42 Million | 17.97% | 1.69x | $521.71 Million |
About New Hope Dairy Co Ltd
New Hope Dairy Co., Ltd. produces and sells dairy products in China. It offers pasteurized milk, ultra-high temperature milk, formulated milk, fermented milk, and other dairy products, as well as involved in food trading, dairy cattle breeding, and other businesses. New Hope Dairy Co., Ltd. was founded in 2006 and is based in Chengdu, China. New Hope Dairy Co., Ltd. operates as a subsidiary of UN… Read more