Henan Zhongyuan Expressway Co Ltd (600020) - Net Assets
Based on the latest financial reports, Henan Zhongyuan Expressway Co Ltd (600020) has net assets worth CN¥11.89 Billion CNY (≈ $1.74 Billion 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¥53.25 Billion ≈ $7.79 Billion USD) and total liabilities (CN¥41.36 Billion ≈ $6.05 Billion 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 Henan Zhongyuan Expressway Co Ltd liquid asset ratio to evaluate the company's liquid asset resilience ratio.
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. Also explore balance sheet size of Henan Zhongyuan Expressway Co Ltd for the complete picture of this company's asset base.
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. For live valuation and market cap data, see how much is Henan Zhongyuan Expressway Co Ltd worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥15.21 Billion ≈ $2.23 Billion |
+3.00% |
| 2023-12-31 | CN¥14.76 Billion ≈ $2.16 Billion |
+16.95% |
| 2022-12-31 | CN¥12.62 Billion ≈ $1.85 Billion |
+1.79% |
| 2021-12-31 | CN¥12.40 Billion ≈ $1.81 Billion |
+3.68% |
| 2020-12-31 | CN¥11.96 Billion ≈ $1.75 Billion |
-1.97% |
| 2019-12-31 | CN¥12.20 Billion ≈ $1.79 Billion |
+8.84% |
| 2018-12-31 | CN¥11.21 Billion ≈ $1.64 Billion |
-15.78% |
| 2017-12-31 | CN¥13.31 Billion ≈ $1.95 Billion |
+8.33% |
| 2016-12-31 | CN¥12.29 Billion ≈ $1.80 Billion |
+1.21% |
| 2015-12-31 | CN¥12.14 Billion ≈ $1.78 Billion |
+56.68% |
| 2014-12-31 | CN¥7.75 Billion ≈ $1.13 Billion |
+10.90% |
| 2013-12-31 | CN¥6.99 Billion ≈ $1.02 Billion |
+2.38% |
| 2012-12-31 | CN¥6.82 Billion ≈ $998.68 Million |
+7.26% |
| 2011-12-31 | CN¥6.36 Billion ≈ $931.11 Million |
+1.48% |
| 2010-12-31 | CN¥6.27 Billion ≈ $917.50 Million |
+7.72% |
| 2009-12-31 | CN¥5.82 Billion ≈ $851.72 Million |
+6.05% |
| 2008-12-31 | CN¥5.49 Billion ≈ $803.11 Million |
+4.82% |
| 2007-12-31 | CN¥5.24 Billion ≈ $766.18 Million |
+12.44% |
| 2006-12-31 | CN¥4.66 Billion ≈ $681.43 Million |
+10.91% |
| 2005-12-31 | CN¥4.20 Billion ≈ $614.37 Million |
+12.29% |
| 2004-12-31 | CN¥3.74 Billion ≈ $547.11 Million |
-0.20% |
| 2003-12-31 | CN¥3.75 Billion ≈ $548.19 Million |
+114.39% |
| 2002-12-31 | CN¥1.75 Billion ≈ $255.70 Million |
+21.31% |
| 2001-12-31 | CN¥1.44 Billion ≈ $210.79 Million |
+21.61% |
| 2000-12-31 | CN¥1.18 Billion ≈ $173.34 Million |
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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 |
|---|---|
|
Sinomach Automobile Co Ltd
SHG:600335
|
$1.33 Billion |
|
Tinavi Medical Technologies Co Ltd
SHG:688277
|
$1.33 Billion |
|
Winmark Corporation
NASDAQ:WINA
|
$1.33 Billion |
|
Ecovyst Inc
NYSE:ECVT
|
$1.33 Billion |
|
Ingles Markets Incorporated
NASDAQ:IMKTA
|
$1.33 Billion |
|
World Kinect Corporation
NYSE:WKC
|
$1.33 Billion |
|
He Bei Cheng De LoLo Co Ltd
SHE:000848
|
$1.33 Billion |
|
M Yochananof and Sons Ltd
TA:YHNF
|
$1.33 Billion |
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: 0.70x
- 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 7.67x to 0.70x 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¥4.04 | x |
| 2001-12-31 | CN¥0.64 | CN¥4.04 | x |
| 2002-12-31 | CN¥0.78 | CN¥4.04 | x |
| 2003-12-31 | CN¥1.67 | CN¥4.04 | x |
| 2004-12-31 | CN¥2.00 | CN¥4.04 | x |
| 2005-12-31 | CN¥1.86 | CN¥4.04 | x |
| 2006-12-31 | CN¥3.10 | CN¥4.04 | x |
| 2007-12-31 | CN¥2.33 | CN¥4.04 | x |
| 2008-12-31 | CN¥2.43 | CN¥4.04 | x |
| 2009-12-31 | CN¥2.58 | CN¥4.04 | x |
| 2010-12-31 | CN¥2.78 | CN¥4.04 | x |
| 2011-12-31 | CN¥2.82 | CN¥4.04 | x |
| 2012-12-31 | CN¥3.02 | CN¥4.04 | x |
| 2013-12-31 | CN¥3.10 | CN¥4.04 | x |
| 2014-12-31 | CN¥3.44 | CN¥4.04 | x |
| 2015-12-31 | CN¥5.39 | CN¥4.04 | x |
| 2016-12-31 | CN¥5.45 | CN¥4.04 | x |
| 2017-12-31 | CN¥4.51 | CN¥4.04 | x |
| 2018-12-31 | CN¥4.95 | CN¥4.04 | x |
| 2019-12-31 | CN¥5.39 | CN¥4.04 | x |
| 2020-12-31 | CN¥5.29 | CN¥4.04 | x |
| 2021-12-31 | CN¥5.50 | CN¥4.04 | x |
| 2022-12-31 | CN¥5.60 | CN¥4.04 | x |
| 2023-12-31 | CN¥6.57 | CN¥4.04 | x |
| 2024-12-31 | CN¥5.79 | CN¥4.04 | 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: $7,070,981,300
- Average return on equity (ROE) among peers: 8.50%
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 | $1.33 Billion |
| Guangdong Provincial Expressway Development Co Ltd (000429) | $3.37 Billion | 3.94% | 0.12x | $3.21 Billion |
| Shanxi Sanwei Group Co Ltd (000755) | $160.96 Million | 16.73% | 1.44x | $1.08 Billion |
| Dongguan Development Holdings Co Ltd (000828) | $2.54 Billion | 8.82% | 0.40x | $1.58 Billion |
| City Development Environment Co Ltd (000885) | $2.90 Billion | 16.27% | 1.18x | $1.33 Billion |
| Xiandai Investment Co Ltd (000900) | $7.06 Billion | 8.02% | 1.65x | $937.29 Million |
| Merchant Express Class A (001965) | $46.36 Billion | 7.27% | 0.41x | $9.35 Billion |
| Shandong Sunway Petrochemical Engineering Co Ltd (002469) | $1.27 Billion | 0.93% | 0.20x | $682.68 Million |
| Xinjiang Communications Construction Group Co Ltd Class A (002941) | $188.53 Million | 9.86% | 6.32x | $1.48 Billion |
| Guangdong Provincial Expressway Development Co Ltd (200429) | $4.25 Billion | 7.65% | 0.60x | $402.45 Million |
| Anhui Expressway Co Ltd (600012) | $2.61 Billion | 5.54% | 0.17x | $2.67 Billion |
About Henan Zhongyuan Expressway Co Ltd
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