Hes Technology Group (002963) - Net Assets
Based on the latest financial reports, Hes Technology Group (002963) has net assets worth CN¥1.19 Billion CNY (≈ $173.64 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¥1.58 Billion ≈ $231.72 Million USD) and total liabilities (CN¥396.92 Million ≈ $58.08 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 002963 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.19 Billion |
| % of Total Assets | 74.93% |
| Annual Growth Rate | 23.38% |
| 5-Year Change | -28.46% |
| 10-Year Change | 345.18% |
| Growth Volatility | 54.48 |
Hes Technology Group - Net Assets Trend (2015–2025)
This chart illustrates how Hes Technology Group's net assets have evolved over time, based on quarterly financial data. See 002963 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Hes Technology Group (2015–2025)
The table below shows the annual net assets of Hes Technology Group from 2015 to 2025. For live valuation and market cap data, see Hes Technology Group (002963) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥1.19 Billion ≈ $174.33 Million |
-11.74% |
| 2024-12-31 | CN¥1.35 Billion ≈ $197.51 Million |
-11.74% |
| 2023-12-31 | CN¥1.53 Billion ≈ $223.80 Million |
+1.33% |
| 2022-12-31 | CN¥1.51 Billion ≈ $220.86 Million |
-9.37% |
| 2021-12-31 | CN¥1.67 Billion ≈ $243.69 Million |
+0.53% |
| 2020-12-31 | CN¥1.66 Billion ≈ $242.41 Million |
+0.99% |
| 2019-12-31 | CN¥1.64 Billion ≈ $240.02 Million |
+163.01% |
| 2018-12-31 | CN¥623.64 Million ≈ $91.26 Million |
+37.72% |
| 2017-12-31 | CN¥452.83 Million ≈ $66.26 Million |
+69.22% |
| 2016-12-31 | CN¥267.60 Million ≈ $39.16 Million |
+83.64% |
| 2015-12-31 | CN¥145.72 Million ≈ $21.32 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Hes Technology Group'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 151.6% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CN¥1.23 Billion | 103.67% |
| Total Equity | CN¥1.19 Billion | 100.00% |
Hes Technology Group Competitors by Market Cap
The table below lists competitors of Hes Technology Group ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Groupe Guillin SA
PA:ALGIL
|
$428.84 Million |
|
Shanghai Information2 Software Inc. A
SHG:688435
|
$428.88 Million |
|
Guanhao Biotech Co Ltd
SHE:300238
|
$429.13 Million |
|
Nawi Brothers Group Ltd
TA:NAWI
|
$429.28 Million |
|
Pacific Biosciences of California
NASDAQ:PACB
|
$428.63 Million |
|
Hualan Group Co Ltd
SHE:301027
|
$428.49 Million |
|
Kumyang
KO:001570
|
$428.33 Million |
|
Colony Bankcorp Inc.
NYSE:CBAN
|
$428.27 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hes Technology Group's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,348,105,344 to 1,190,562,589, a change of -157,542,755 (-11.7%).
- Net loss of 127,470,769 reduced equity.
- Dividend payments of 30,071,986 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-127.47 Million | -10.71% |
| Dividends Paid | CN¥30.07 Million | -2.53% |
| Other Changes | CN¥0.03 | +0.0% |
| Total Change | CN¥- | -11.69% |
Book Value vs Market Value Analysis
This analysis compares Hes Technology Group'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: 2.46x
- 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 6.91x to 2.46x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2015-12-31 | CN¥2.82 | CN¥19.49 | x |
| 2016-12-31 | CN¥3.34 | CN¥19.49 | x |
| 2017-12-31 | CN¥4.30 | CN¥19.49 | x |
| 2018-12-31 | CN¥5.51 | CN¥19.49 | x |
| 2019-12-31 | CN¥13.76 | CN¥19.49 | x |
| 2020-12-31 | CN¥10.85 | CN¥19.49 | x |
| 2021-12-31 | CN¥11.28 | CN¥19.49 | x |
| 2022-12-31 | CN¥10.09 | CN¥19.49 | x |
| 2023-12-31 | CN¥10.29 | CN¥19.49 | x |
| 2024-12-31 | CN¥8.94 | CN¥19.49 | x |
| 2025-12-31 | CN¥7.92 | CN¥19.49 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hes Technology Group 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): -10.71%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -36.79%
- • Asset Turnover: 0.21x
- • Equity Multiplier: 1.36x
- Recent ROE (-10.71%) is below the historical average (4.54%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 15.04% | 9.14% | 0.95x | 1.74x | CN¥7.35 Million |
| 2016 | 5.98% | 5.70% | 0.71x | 1.47x | CN¥-10.76 Million |
| 2017 | 18.16% | 16.93% | 0.72x | 1.49x | CN¥36.94 Million |
| 2018 | 27.39% | 18.53% | 0.88x | 1.67x | CN¥108.45 Million |
| 2019 | 13.16% | 18.65% | 0.51x | 1.39x | CN¥51.79 Million |
| 2020 | 2.58% | 7.15% | 0.28x | 1.29x | CN¥-122.90 Million |
| 2021 | 0.80% | 1.69% | 0.34x | 1.39x | CN¥-153.24 Million |
| 2022 | -10.31% | -38.23% | 0.19x | 1.40x | CN¥-306.55 Million |
| 2023 | 1.17% | 3.31% | 0.26x | 1.34x | CN¥-134.94 Million |
| 2024 | -13.31% | -39.08% | 0.25x | 1.35x | CN¥-314.19 Million |
| 2025 | -10.71% | -36.79% | 0.21x | 1.36x | CN¥-246.53 Million |
Industry Comparison
This section compares Hes Technology Group's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $21,404,927,234
- Average return on equity (ROE) among peers: 44.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hes Technology Group (002963) | CN¥1.19 Billion | 15.04% | 0.33x | $428.83 Million |
| Shenzhen Zhongheng Huafa Co Ltd Class A (000020) | $276.94 Million | 3.75% | 1.41x | $305.93 Million |
| Shenzhen Desay Battery Technology Co Ltd (000049) | $202.23 Million | 1.58% | 1.20x | $1.35 Billion |
| Shenzhen Huakong Seg Co Ltd (000068) | $116.44 Million | -93.06% | 2.61x | $481.70 Million |
| CPT Technology Group Co Ltd (000536) | $52.05 Million | 490.89% | 0.65x | $1.46 Billion |
| Guangdong Fenghua Advanced Technology Holding Co Ltd (000636) | $5.53 Billion | 18.40% | 0.27x | $12.63 Billion |
| Xiamen Xindeco Ltd (000701) | $920.35 Million | 5.21% | 1.79x | $491.49 Million |
| BOE Technology Group Co Ltd (000725) | $197.80 Billion | 1.29% | 1.12x | $34.84 Billion |
| China Zhenhua Group Science & Technology Co Ltd (000733) | $2.43 Billion | 3.50% | 0.53x | $4.85 Billion |
| Beijing Zhong Ke San Huan High-Tech Co Ltd (000970) | $5.48 Billion | 2.36% | 0.29x | $2.66 Billion |
| Guizhou Space Appliance Co Ltd (002025) | $1.25 Billion | 7.05% | 0.10x | $4.23 Billion |
About Hes Technology Group
Haoersai Technology Group Corp., Ltd. designs, constructs, procures, operates, maintains, and sells lighting engineering products primarily in China. The company offers smart light poles that are applied to various scenarios, including smart communities, smart security, and smart parking; and smart city and town, digital village, smart parking and security, and smart sanitation solutions. It also… Read more