China National Accord Medicines Corp Ltd (200028) - Net Assets
Based on the latest financial reports, China National Accord Medicines Corp Ltd (200028) has net assets worth HK$21.55 Billion HKD as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (HK$50.56 Billion) and total liabilities (HK$29.01 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | HK$21.55 Billion |
| % of Total Assets | 42.63% |
| Annual Growth Rate | 17.85% |
| 5-Year Change | 19.99% |
| 10-Year Change | 142.59% |
| Growth Volatility | 38.73 |
China National Accord Medicines Corp Ltd - Net Assets Trend (1992–2025)
This chart illustrates how China National Accord Medicines Corp Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for China National Accord Medicines Corp Ltd (1992–2025)
The table below shows the annual net assets of China National Accord Medicines Corp Ltd from 1992 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | HK$21.62 Billion | +4.19% |
| 2024-12-31 | HK$20.76 Billion | -1.06% |
| 2023-12-31 | HK$20.98 Billion | +7.88% |
| 2022-12-31 | HK$19.44 Billion | +7.89% |
| 2021-12-31 | HK$18.02 Billion | +6.71% |
| 2020-12-31 | HK$16.89 Billion | +9.95% |
| 2019-12-31 | HK$15.36 Billion | +10.46% |
| 2018-12-31 | HK$13.91 Billion | +40.07% |
| 2017-12-31 | HK$9.93 Billion | +11.37% |
| 2016-12-31 | HK$8.91 Billion | +60.14% |
| 2015-12-31 | HK$5.57 Billion | +14.74% |
| 2014-12-31 | HK$4.85 Billion | +109.41% |
| 2013-12-31 | HK$2.32 Billion | +25.97% |
| 2012-12-31 | HK$1.84 Billion | +28.89% |
| 2011-12-31 | HK$1.43 Billion | +26.10% |
| 2010-12-31 | HK$1.13 Billion | +28.85% |
| 2009-12-31 | HK$878.13 Million | +35.23% |
| 2008-12-31 | HK$649.37 Million | +25.46% |
| 2007-12-31 | HK$517.58 Million | +9.45% |
| 2006-12-31 | HK$472.90 Million | +20.11% |
| 2005-12-31 | HK$393.72 Million | +9.92% |
| 2004-12-31 | HK$358.20 Million | +4.47% |
| 2003-12-31 | HK$342.86 Million | +2.44% |
| 2002-12-31 | HK$334.70 Million | -8.16% |
| 2001-12-31 | HK$364.45 Million | -10.02% |
| 2000-12-31 | HK$405.06 Million | -10.43% |
| 1999-12-31 | HK$452.23 Million | +0.89% |
| 1998-12-31 | HK$448.25 Million | +36.59% |
| 1997-12-31 | HK$328.17 Million | -8.11% |
| 1996-12-31 | HK$357.13 Million | +8.33% |
| 1995-12-31 | HK$329.65 Million | +2.09% |
| 1994-12-31 | HK$322.91 Million | +12.44% |
| 1993-12-31 | HK$287.19 Million | +199.84% |
| 1992-12-31 | HK$95.78 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to China National Accord Medicines Corp 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 1350972238420.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | HK$13.51 Billion | 72.58% |
| Other Components | HK$5.10 Billion | 27.42% |
| Total Equity | HK$18.61 Billion | 100.00% |
China National Accord Medicines Corp Ltd Competitors by Market Cap
The table below lists competitors of China National Accord Medicines Corp Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
New Best Wire Industrial Co Ltd
TWO:5013
|
$126.52 Million |
|
Almogim Holdings Ltd
TA:ALMA
|
$126.56 Million |
|
Wattanapat Hospital Trang Public Company Limited
BK:WPH
|
$126.57 Million |
|
I Controls Inc
KO:039570
|
$126.58 Million |
|
EDAP TMS SA
NASDAQ:EDAP
|
$126.31 Million |
|
Monte Carlo Fashions Limited
NSE:MONTECARLO
|
$126.31 Million |
|
Birikim Varlik Yonetim A.S.
IS:BRKVY
|
$126.30 Million |
|
Penta Teknoloji Urunleri Dagitim Ticaret AS
IS:PENTA
|
$126.30 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China National Accord Medicines Corp Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 17,669,528,000 to 18,609,963,276, a change of 940,435,276 (5.3%).
- Net income of 1,106,528,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 1,449,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | HK$1.11 Billion | +5.95% |
| Other Comprehensive Income | HK$1.45 Million | +0.01% |
| Other Changes | HK$-167.54 Million | -0.9% |
| Total Change | HK$- | 5.32% |
Book Value vs Market Value Analysis
This analysis compares China National Accord Medicines Corp 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: 0.42x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 41.71x to 0.42x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1992-12-31 | HK$0.33 | HK$13.88 | x |
| 1993-12-31 | HK$1.00 | HK$13.88 | x |
| 1994-12-31 | HK$1.12 | HK$13.88 | x |
| 1995-12-31 | HK$1.14 | HK$13.88 | x |
| 1996-12-31 | HK$1.24 | HK$13.88 | x |
| 1997-12-31 | HK$1.13 | HK$13.88 | x |
| 1998-12-31 | HK$1.18 | HK$13.88 | x |
| 1999-12-31 | HK$1.19 | HK$13.88 | x |
| 2000-12-31 | HK$1.12 | HK$13.88 | x |
| 2001-12-31 | HK$1.23 | HK$13.88 | x |
| 2002-12-31 | HK$1.16 | HK$13.88 | x |
| 2003-12-31 | HK$1.19 | HK$13.88 | x |
| 2004-12-31 | HK$1.24 | HK$13.88 | x |
| 2005-12-31 | HK$1.37 | HK$13.88 | x |
| 2006-12-31 | HK$1.19 | HK$13.88 | x |
| 2007-12-31 | HK$1.29 | HK$13.88 | x |
| 2008-12-31 | HK$1.66 | HK$13.88 | x |
| 2009-12-31 | HK$2.20 | HK$13.88 | x |
| 2010-12-31 | HK$2.82 | HK$13.88 | x |
| 2011-12-31 | HK$3.61 | HK$13.88 | x |
| 2012-12-31 | HK$4.74 | HK$13.88 | x |
| 2013-12-31 | HK$5.99 | HK$13.88 | x |
| 2014-12-31 | HK$10.65 | HK$13.88 | x |
| 2015-12-31 | HK$9.90 | HK$13.88 | x |
| 2016-12-31 | HK$15.34 | HK$13.88 | x |
| 2017-12-31 | HK$16.88 | HK$13.88 | x |
| 2018-12-31 | HK$20.88 | HK$13.88 | x |
| 2019-12-31 | HK$23.01 | HK$13.88 | x |
| 2020-12-31 | HK$25.06 | HK$13.88 | x |
| 2021-12-31 | HK$26.82 | HK$13.88 | x |
| 2022-12-31 | HK$28.97 | HK$13.88 | x |
| 2023-12-31 | HK$31.25 | HK$13.88 | x |
| 2024-12-31 | HK$31.75 | HK$13.88 | x |
| 2025-12-31 | HK$33.42 | HK$13.88 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China National Accord Medicines Corp 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): 5.95%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.55%
- • Asset Turnover: 1.46x
- • Equity Multiplier: 2.64x
- Recent ROE (5.95%) is below the historical average (12.02%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1992 | 21.59% | 24.47% | 0.45x | 1.97x | HK$11.11 Million |
| 1993 | 11.37% | 27.34% | 0.31x | 1.34x | HK$3.94 Million |
| 1994 | 11.16% | 27.95% | 0.34x | 1.18x | HK$3.73 Million |
| 1995 | 7.10% | 14.47% | 0.42x | 1.16x | HK$-9.53 Million |
| 1996 | 11.37% | 26.73% | 0.34x | 1.25x | HK$4.88 Million |
| 1997 | -9.11% | -35.13% | 0.17x | 1.52x | HK$-62.38 Million |
| 1998 | 4.14% | 15.96% | 0.16x | 1.65x | HK$-19.94 Million |
| 1999 | 6.02% | 22.83% | 0.17x | 1.58x | HK$-13.58 Million |
| 2000 | -0.55% | -1.65% | 0.22x | 1.52x | HK$-34.08 Million |
| 2001 | 10.32% | 2.19% | 1.49x | 3.16x | HK$1.12 Million |
| 2002 | 1.48% | 0.26% | 1.78x | 3.16x | HK$-28.41 Million |
| 2003 | 4.45% | 0.85% | 1.77x | 2.95x | HK$-18.97 Million |
| 2004 | 7.61% | 1.73% | 1.86x | 2.36x | HK$-8.57 Million |
| 2005 | 9.08% | 2.19% | 1.53x | 2.72x | HK$-3.61 Million |
| 2006 | 16.21% | 1.28% | 2.12x | 5.98x | HK$27.78 Million |
| 2007 | 25.80% | 1.82% | 2.37x | 6.00x | HK$76.50 Million |
| 2008 | 24.65% | 1.85% | 2.27x | 5.87x | HK$92.01 Million |
| 2009 | 23.43% | 1.76% | 2.09x | 6.36x | HK$110.45 Million |
| 2010 | 24.81% | 2.00% | 2.07x | 5.99x | HK$155.88 Million |
| 2011 | 24.46% | 2.18% | 1.97x | 5.68x | HK$195.29 Million |
| 2012 | 26.79% | 2.64% | 1.94x | 5.23x | HK$298.20 Million |
| 2013 | 23.19% | 2.46% | 1.92x | 4.93x | HK$296.01 Million |
| 2014 | 13.69% | 2.72% | 1.87x | 2.69x | HK$176.04 Million |
| 2015 | 17.01% | 2.45% | 2.86x | 2.42x | HK$382.27 Million |
| 2016 | 14.04% | 2.88% | 1.94x | 2.52x | HK$341.52 Million |
| 2017 | 11.26% | 2.56% | 1.85x | 2.38x | HK$118.13 Million |
| 2018 | 10.42% | 2.81% | 1.49x | 2.49x | HK$48.90 Million |
| 2019 | 9.90% | 2.40% | 1.57x | 2.62x | HK$-12.71 Million |
| 2020 | 10.05% | 2.35% | 1.51x | 2.84x | HK$7.06 Million |
| 2021 | 8.95% | 1.96% | 1.60x | 2.87x | HK$-156.07 Million |
| 2022 | 9.22% | 2.02% | 1.72x | 2.64x | HK$-125.88 Million |
| 2023 | 9.18% | 2.12% | 1.59x | 2.73x | HK$-142.23 Million |
| 2024 | 3.64% | 0.86% | 1.56x | 2.69x | HK$-1.12 Billion |
| 2025 | 5.95% | 1.55% | 1.46x | 2.64x | HK$-754.47 Million |
Industry Comparison
This section compares China National Accord Medicines Corp Ltd's net assets metrics with peer companies in the Medical Distribution industry.
Industry Context
- Industry: Medical Distribution
- Average net assets among peers: $13,168,986,917
- Average return on equity (ROE) among peers: 13.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China National Accord Medicines Corp Ltd (200028) | HK$21.55 Billion | 21.59% | 1.35x | $126.42 Million |
| C.Q. Pharmaceutical Holding Co Ltd (000950) | $49.15 Million | 21.86% | 1.89x | $1.54 Billion |
| Shenzhen Glory Medical Co Ltd (002551) | $276.00 Million | 16.81% | 0.77x | $420.66 Million |
| Shandong Realcan Pharmaceutical Co Ltd (002589) | $3.40 Billion | 6.93% | 1.60x | $755.24 Million |
| Qingdao Baheal Medical INC. (301015) | $1.31 Billion | 16.08% | 1.63x | $2.04 Billion |
| China Meheco Co Ltd (600056) | $12.51 Billion | 5.17% | 1.49x | $2.34 Billion |
| Liaoning Cheng Da Co Ltd (600739) | $1.75 Billion | 29.52% | 1.04x | $2.61 Billion |
| Jointown Pharmaceutical Group Co Ltd (600998) | $4.00 Billion | 8.99% | 1.03x | $3.88 Billion |
| Shanghai Pharmaceuticals Holding Co Ltd (601607) | $89.79 Billion | 6.38% | 1.60x | $6.93 Billion |
| Guangxi Liuzhou Pharm Co Ltd (603368) | $5.44 Billion | 13.07% | 1.72x | $982.89 Million |
About China National Accord Medicines Corp Ltd
China National Accord Medicines Corporation Ltd. engages in the retail and distribution of pharmaceutical products in China and internationally. The company offers new and special drugs and medications for chronic diseases. It also provides traditional Chinese medicine, Western medicine, rehabilitation therapy, and various medical-related resources, as well as chemical drugs, OTC drugs, and healt… Read more