Henan Zhongyuan Expressway Co Ltd

SHG:600020 China Infrastructure Operations
Market Cap
$1.28 Billion
CN¥9.42 Billion CNY
Market Cap Rank
#10438 Global
#2315 in China
Share Price
CN¥4.19
Change (1 day)
-0.24%
52-Week Range
CN¥4.00 - CN¥5.05
All Time High
CN¥6.49
Categories
Companies in China Infrastructure Operations
About

Henan Zhongyuan Expressway Company Limited engages in investment, construction, operation, and management of expressways in China. The company operates Airport Expressway, the Zhengzhou-Zhumadian section of the Beijing-Hong Kong-Macau Expressway, the Zhengzhou-Yaoshan section of the Zhengluan Expressway, Zhengmin Expressway, Shangdeng Expressway, and the Yongcheng Section of Deshang Expressway. I… Read more

Henan Zhongyuan Expressway Co Ltd (600020) - Net Assets

Latest net assets as of September 2025: CN¥11.89 Billion CNY

Based on the latest financial reports, Henan Zhongyuan Expressway Co Ltd (600020) has net assets worth CN¥11.89 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¥53.25 Billion) and total liabilities (CN¥41.36 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¥11.89 Billion
% of Total Assets 22.33%
Annual Growth Rate 11.22%
5-Year Change 27.12%
10-Year Change 25.24%
Growth Volatility 24.57

Henan Zhongyuan Expressway Co Ltd - Net Assets Trend (2000–2024)

This chart illustrates how Henan Zhongyuan Expressway 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 Henan Zhongyuan Expressway Co Ltd (2000–2024)

The table below shows the annual net assets of Henan Zhongyuan Expressway Co Ltd from 2000 to 2024.

Year Net Assets Change
2024-12-31 CN¥15.21 Billion +3.00%
2023-12-31 CN¥14.76 Billion +16.95%
2022-12-31 CN¥12.62 Billion +1.79%
2021-12-31 CN¥12.40 Billion +3.68%
2020-12-31 CN¥11.96 Billion -1.97%
2019-12-31 CN¥12.20 Billion +8.84%
2018-12-31 CN¥11.21 Billion -15.78%
2017-12-31 CN¥13.31 Billion +8.33%
2016-12-31 CN¥12.29 Billion +1.21%
2015-12-31 CN¥12.14 Billion +56.68%
2014-12-31 CN¥7.75 Billion +10.90%
2013-12-31 CN¥6.99 Billion +2.38%
2012-12-31 CN¥6.82 Billion +7.26%
2011-12-31 CN¥6.36 Billion +1.48%
2010-12-31 CN¥6.27 Billion +7.72%
2009-12-31 CN¥5.82 Billion +6.05%
2008-12-31 CN¥5.49 Billion +4.82%
2007-12-31 CN¥5.24 Billion +12.44%
2006-12-31 CN¥4.66 Billion +10.91%
2005-12-31 CN¥4.20 Billion +12.29%
2004-12-31 CN¥3.74 Billion -0.20%
2003-12-31 CN¥3.75 Billion +114.39%
2002-12-31 CN¥1.75 Billion +21.31%
2001-12-31 CN¥1.44 Billion +21.61%
2000-12-31 CN¥1.18 Billion --

Equity Component Analysis

This analysis shows how different components contribute to Henan Zhongyuan Expressway 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 617032842700.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings CN¥6.17 Billion 40.58%
Common Stock CN¥2.25 Billion 14.78%
Other Comprehensive Income CN¥1.66 Billion 10.89%
Other Components CN¥5.13 Billion 33.75%
Total Equity CN¥15.21 Billion 100.00%

Henan Zhongyuan Expressway Co Ltd Competitors by Market Cap

The table below lists competitors of Henan Zhongyuan Expressway Co Ltd ranked by their market capitalization.

Company Market Cap
Linewell Software Co Ltd
SHG:603636
 		$484.66 Million
Nanfang Ventilator Co Ltd
SHE:300004
 		$484.75 Million
Gifore Agricultural Machinery Chain Co Ltd
SHE:300022
 		$484.96 Million
Lanzhou Haimo Technologies Co
SHE:300084
 		$485.03 Million
Udemy Inc
NASDAQ:UDMY
 		$484.45 Million
China BlueChemical Ltd
PINK:CBLUF
 		$484.41 Million
Mission Produce Inc
NASDAQ:AVO
 		$484.25 Million
MegaChips Corporation
F:MHC
 		$484.13 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Henan Zhongyuan Expressway Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 14,763,661,506 to 15,205,772,100, a change of 442,110,594 (3.0%).
  • Net income of 880,390,203 contributed positively to equity growth.
  • Dividend payments of 1,505,992,589 reduced retained earnings.
  • Other comprehensive income increased equity by 127,782,665.
  • Other factors increased equity by 939,930,315.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income CN¥880.39 Million +5.79%
Dividends Paid CN¥1.51 Billion -9.9%
Other Comprehensive Income CN¥127.78 Million +0.84%
Other Changes CN¥939.93 Million +6.18%
Total Change CN¥- 2.99%

Book Value vs Market Value Analysis

This analysis compares Henan Zhongyuan Expressway 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: 0.72x
  • 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 7.95x to 0.72x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2000-12-31 CN¥0.53 CN¥4.19 x
2001-12-31 CN¥0.64 CN¥4.19 x
2002-12-31 CN¥0.78 CN¥4.19 x
2003-12-31 CN¥1.67 CN¥4.19 x
2004-12-31 CN¥2.00 CN¥4.19 x
2005-12-31 CN¥1.86 CN¥4.19 x
2006-12-31 CN¥3.10 CN¥4.19 x
2007-12-31 CN¥2.33 CN¥4.19 x
2008-12-31 CN¥2.43 CN¥4.19 x
2009-12-31 CN¥2.58 CN¥4.19 x
2010-12-31 CN¥2.78 CN¥4.19 x
2011-12-31 CN¥2.82 CN¥4.19 x
2012-12-31 CN¥3.02 CN¥4.19 x
2013-12-31 CN¥3.10 CN¥4.19 x
2014-12-31 CN¥3.44 CN¥4.19 x
2015-12-31 CN¥5.39 CN¥4.19 x
2016-12-31 CN¥5.45 CN¥4.19 x
2017-12-31 CN¥4.51 CN¥4.19 x
2018-12-31 CN¥4.95 CN¥4.19 x
2019-12-31 CN¥5.39 CN¥4.19 x
2020-12-31 CN¥5.29 CN¥4.19 x
2021-12-31 CN¥5.50 CN¥4.19 x
2022-12-31 CN¥5.60 CN¥4.19 x
2023-12-31 CN¥6.57 CN¥4.19 x
2024-12-31 CN¥5.79 CN¥4.19 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Henan Zhongyuan Expressway 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): 5.79%
  • The company has moderate efficiency in generating returns from equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 12.63%
  • • Asset Turnover: 0.13x
  • • Equity Multiplier: 3.43x
  • Recent ROE (5.79%) is below the historical average (8.60%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2000 7.06% 26.16% 0.14x 1.92x CN¥-34.85 Million
2001 17.77% 51.92% 0.18x 1.89x CN¥111.90 Million
2002 17.56% 45.03% 0.21x 1.86x CN¥132.18 Million
2003 7.24% 33.79% 0.17x 1.27x CN¥-103.36 Million
2004 13.85% 41.99% 0.23x 1.45x CN¥143.76 Million
2005 13.23% 36.16% 0.23x 1.56x CN¥135.20 Million
2006 12.16% 35.14% 0.14x 2.51x CN¥100.49 Million
2007 11.28% 32.10% 0.11x 3.18x CN¥66.81 Million
2008 4.72% 13.91% 0.10x 3.50x CN¥-288.67 Million
2009 7.67% 22.16% 0.09x 3.79x CN¥-134.87 Million
2010 8.43% 22.98% 0.08x 4.54x CN¥-98.01 Million
2011 4.70% 11.76% 0.08x 4.79x CN¥-336.17 Million
2012 7.65% 13.09% 0.13x 4.57x CN¥-159.85 Million
2013 5.66% 12.93% 0.09x 5.07x CN¥-302.48 Million
2014 11.94% 23.75% 0.10x 5.09x CN¥150.04 Million
2015 9.45% 25.21% 0.10x 3.91x CN¥-66.51 Million
2016 6.10% 19.02% 0.08x 3.95x CN¥-477.65 Million
2017 8.65% 18.40% 0.12x 3.79x CN¥-178.67 Million
2018 7.19% 15.38% 0.10x 4.51x CN¥-312.92 Million
2019 12.05% 22.86% 0.13x 4.03x CN¥248.46 Million
2020 2.04% 4.77% 0.11x 4.00x CN¥-945.40 Million
2021 6.02% 13.26% 0.12x 3.79x CN¥-491.64 Million
2022 1.11% 1.89% 0.15x 3.95x CN¥-1.12 Billion
2023 5.61% 14.53% 0.11x 3.39x CN¥-647.94 Million
2024 5.79% 12.63% 0.13x 3.43x CN¥-640.19 Million

Industry Comparison

This section compares Henan Zhongyuan Expressway Co Ltd's net assets metrics with peer companies in the Infrastructure Operations industry.

Industry Context

  • Industry: Infrastructure Operations
  • Average net assets among peers: $11,798,096,729
  • Average return on equity (ROE) among peers: 0.42%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Henan Zhongyuan Expressway Co Ltd (600020) CN¥11.89 Billion 7.06% 3.48x $484.63 Million
Shanxi Sanwei Group Co Ltd (000755) $4.95 Billion 9.26% 1.57x $239.87 Million
Dongguan Development Holdings Co Ltd (000828) $2.67 Billion 6.91% 0.56x $469.41 Million
City Development Environment Co Ltd (000885) $103.40 Million -76.39% 3.38x $431.18 Million
Xiandai Investment Co Ltd (000900) $5.14 Billion 16.00% 0.56x $475.65 Million
Merchant Express Class A (001965) $63.32 Billion 7.85% 0.55x $2.91 Billion
Shandong Sunway Petrochemical Engineering Co Ltd (002469) $2.87 Billion 9.16% 0.26x $626.47 Million
Xinjiang Communications Construction Group Co Ltd Class A (002941) $2.50 Billion 14.14% 3.06x $839.14 Million
Guangdong Provincial Expressway Development Co Ltd (200429) $12.41 Billion 13.17% 0.72x $1.13 Billion
Fujian Expressway Development Co Ltd (600033) $12.23 Billion 3.70% 0.32x $626.53 Million