Top Resource Conservation Engineering Co Ltd
Top Resource Energy Co., Ltd. engages in the trading and sale of natural gas, pipeline transportation, urban gas transmission and distribution, gas engineering design, and technical services. The company offers technical services for renewable resource power generation and heating and desulfurization, and denitrification processes, as well as produces liquefied natural gas. In addition, it provid… Read more
Top Resource Conservation Engineering Co Ltd (300332) - Net Assets
Latest net assets as of September 2025: CN¥4.55 Billion CNY
Based on the latest financial reports, Top Resource Conservation Engineering Co Ltd (300332) has net assets worth CN¥4.55 Billion CNY as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥8.02 Billion) and total liabilities (CN¥3.47 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 | CN¥4.55 Billion |
| % of Total Assets | 56.73% |
| Annual Growth Rate | 22.76% |
| 5-Year Change | 21.71% |
| 10-Year Change | 88.31% |
| Growth Volatility | 43.9 |
Top Resource Conservation Engineering Co Ltd - Net Assets Trend (2009–2024)
This chart illustrates how Top Resource Conservation Engineering Co 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 Top Resource Conservation Engineering Co Ltd (2009–2024)
The table below shows the annual net assets of Top Resource Conservation Engineering Co Ltd from 2009 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥4.44 Billion | +0.42% |
| 2023-12-31 | CN¥4.42 Billion | +5.93% |
| 2022-12-31 | CN¥4.17 Billion | +10.75% |
| 2021-12-31 | CN¥3.77 Billion | +3.32% |
| 2020-12-31 | CN¥3.65 Billion | +3.14% |
| 2019-12-31 | CN¥3.54 Billion | -1.70% |
| 2018-12-31 | CN¥3.60 Billion | -1.99% |
| 2017-12-31 | CN¥3.67 Billion | +2.77% |
| 2016-12-31 | CN¥3.57 Billion | +51.51% |
| 2015-12-31 | CN¥2.36 Billion | +69.34% |
| 2014-12-31 | CN¥1.39 Billion | +8.62% |
| 2013-12-31 | CN¥1.28 Billion | +9.97% |
| 2012-12-31 | CN¥1.17 Billion | +150.53% |
| 2011-12-31 | CN¥465.13 Million | +12.38% |
| 2010-12-31 | CN¥413.88 Million | +102.18% |
| 2009-12-31 | CN¥204.71 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Top Resource Conservation Engineering 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 32294.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥1.39 Billion | 32.85% |
| Common Stock | CN¥865.11 Million | 20.52% |
| Other Comprehensive Income | CN¥211.73 Million | 5.02% |
| Other Components | CN¥1.75 Billion | 41.61% |
| Total Equity | CN¥4.22 Billion | 100.00% |
Top Resource Conservation Engineering Co Ltd Competitors by Market Cap
The table below lists competitors of Top Resource Conservation Engineering Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Beijing Hualu Baina Film TV
SHE:300291
|
$507.72 Million |
|
Midland States Bancorp Inc
NASDAQ:MSBIP
|
$507.98 Million |
|
Gold Royalty Corp.
NYSE MKT:GROY
|
$508.32 Million |
|
Lectra SA
PA:LSS
|
$508.47 Million |
|
Pell Bio-Med Technology Co., Ltd.
TW:6949
|
$507.62 Million |
|
Jiangxi Ganneng Co Ltd
SHE:000899
|
$507.45 Million |
|
MorningStar Partners, L.P.
NYSE:TXO
|
$507.44 Million |
|
MedCap AB (publ)
ST:MCAP
|
$507.41 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Top Resource Conservation Engineering Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 4,205,531,726 to 4,216,495,653, a change of 10,963,927 (0.3%).
- Net income of 124,811,017 contributed positively to equity growth.
- Dividend payments of 91,361,650 reduced retained earnings.
- Share repurchases of 129,230,532 reduced equity.
- Other comprehensive income increased equity by 211,732,385.
- Other factors decreased equity by 104,987,293.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥124.81 Million | +2.96% |
| Dividends Paid | CN¥91.36 Million | -2.17% |
| Share Repurchases | CN¥129.23 Million | -3.06% |
| Other Comprehensive Income | CN¥211.73 Million | +5.02% |
| Other Changes | CN¥-104.99 Million | -2.49% |
| Total Change | CN¥- | 0.26% |
Book Value vs Market Value Analysis
This analysis compares Top Resource Conservation Engineering 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: 1.17x
- 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 8.11x to 1.17x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | CN¥0.73 | CN¥5.95 | x |
| 2010-12-31 | CN¥0.97 | CN¥5.95 | x |
| 2011-12-31 | CN¥0.94 | CN¥5.95 | x |
| 2012-12-31 | CN¥2.06 | CN¥5.95 | x |
| 2013-12-31 | CN¥1.96 | CN¥5.95 | x |
| 2014-12-31 | CN¥2.12 | CN¥5.95 | x |
| 2015-12-31 | CN¥3.21 | CN¥5.95 | x |
| 2016-12-31 | CN¥4.56 | CN¥5.95 | x |
| 2017-12-31 | CN¥3.87 | CN¥5.95 | x |
| 2018-12-31 | CN¥4.11 | CN¥5.95 | x |
| 2019-12-31 | CN¥3.86 | CN¥5.95 | x |
| 2020-12-31 | CN¥4.02 | CN¥5.95 | x |
| 2021-12-31 | CN¥4.22 | CN¥5.95 | x |
| 2022-12-31 | CN¥4.64 | CN¥5.95 | x |
| 2023-12-31 | CN¥4.91 | CN¥5.95 | x |
| 2024-12-31 | CN¥5.07 | CN¥5.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Top Resource Conservation Engineering 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): 2.96%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 3.25%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 1.96x
- Recent ROE (2.96%) is below the historical average (5.57%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 5.45% | 22.45% | 0.14x | 1.79x | CN¥-9.24 Million |
| 2010 | 7.20% | 33.01% | 0.13x | 1.71x | CN¥-11.53 Million |
| 2011 | 11.11% | 28.16% | 0.17x | 2.26x | CN¥5.16 Million |
| 2012 | 7.77% | 35.16% | 0.17x | 1.33x | CN¥-25.93 Million |
| 2013 | 9.20% | 35.65% | 0.20x | 1.31x | CN¥-10.06 Million |
| 2014 | 10.14% | 31.28% | 0.19x | 1.72x | CN¥1.98 Million |
| 2015 | 6.22% | 14.73% | 0.23x | 1.83x | CN¥-85.21 Million |
| 2016 | 1.75% | 3.46% | 0.22x | 2.28x | CN¥-274.37 Million |
| 2017 | 2.59% | 4.55% | 0.24x | 2.40x | CN¥-258.37 Million |
| 2018 | 2.43% | 4.28% | 0.24x | 2.35x | CN¥-262.22 Million |
| 2019 | 0.31% | 0.59% | 0.23x | 2.31x | CN¥-329.41 Million |
| 2020 | 1.58% | 3.30% | 0.20x | 2.40x | CN¥-297.73 Million |
| 2021 | 5.61% | 9.94% | 0.25x | 2.28x | CN¥-159.40 Million |
| 2022 | 9.12% | 9.52% | 0.41x | 2.32x | CN¥-35.37 Million |
| 2023 | 5.71% | 5.31% | 0.50x | 2.17x | CN¥-180.53 Million |
| 2024 | 2.96% | 3.25% | 0.47x | 1.96x | CN¥-296.84 Million |
Industry Comparison
This section compares Top Resource Conservation Engineering Co Ltd's net assets metrics with peer companies in the Utilities - Regulated Gas industry.
Industry Context
- Industry: Utilities - Regulated Gas
- Average net assets among peers: $7,561,060,666
- Average return on equity (ROE) among peers: 9.75%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Top Resource Conservation Engineering Co Ltd (300332) | CN¥4.55 Billion | 5.45% | 0.76x | $507.68 Million |
| Delong Composite Energy Group Co Ltd (000593) | $933.66 Million | 2.04% | 1.10x | $622.98 Million |
| Shaanxi Meineng Clean Energy Corp. Ltd. A (001299) | $1.30 Billion | 6.72% | 0.36x | $106.29 Million |
| Xinjiang Haoyuan Natural Gas Co Ltd (002700) | $147.90 Million | 32.85% | 1.37x | $172.04 Million |
| Foran Energy Group Co Ltd (002911) | $745.57 Million | 24.41% | 1.42x | $410.21 Million |
| Sichuan Qiaoyuan Gas Co.Ltd (301286) | $1.75 Billion | 8.51% | 0.14x | $245.07 Million |
| Changchun Gas Co Ltd (600333) | $2.06 Billion | -4.78% | 1.94x | $195.28 Million |
| Shanghai DaZhong Public Utilities Group Co Ltd (600635) | $1.16 Billion | 10.61% | 0.49x | $1.87 Billion |
| Bestsun Energy Co Ltd (600681) | $-593.14 Million | 0.00% | 0.00x | $86.89 Million |
| ENN Ecological Holdings Co Ltd (600803) | $60.54 Billion | 7.42% | 1.19x | $2.55 Billion |