Zhejiang Zheneng Electric Power Co Ltd (600023) - Net Assets
Based on the latest financial reports, Zhejiang Zheneng Electric Power Co Ltd (600023) has net assets worth CN¥90.32 Billion CNY (≈ $13.22 Billion 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¥154.12 Billion ≈ $22.55 Billion USD) and total liabilities (CN¥63.80 Billion ≈ $9.34 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 Zhejiang Zheneng Electric Power Co Ltd PP&E and investment ratio to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥90.32 Billion |
| % of Total Assets | 58.6% |
| Annual Growth Rate | 6.1% |
| 5-Year Change | 25.19% |
| 10-Year Change | 35.54% |
| Growth Volatility | 8.89 |
Zhejiang Zheneng Electric Power Co Ltd - Net Assets Trend (2010–2025)
This chart illustrates how Zhejiang Zheneng Electric Power Co Ltd's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see 600023 market cap.
Annual Net Assets for Zhejiang Zheneng Electric Power Co Ltd (2010–2025)
The table below shows the annual net assets of Zhejiang Zheneng Electric Power Co Ltd from 2010 to 2025. Also explore net asset momentum of Zhejiang Zheneng Electric Power Co Ltd to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥89.87 Billion ≈ $13.15 Billion |
+3.51% |
| 2024-12-31 | CN¥86.82 Billion ≈ $12.70 Billion |
+8.57% |
| 2023-12-31 | CN¥79.97 Billion ≈ $11.70 Billion |
+18.37% |
| 2022-12-31 | CN¥67.56 Billion ≈ $9.89 Billion |
-5.89% |
| 2021-12-31 | CN¥71.79 Billion ≈ $10.50 Billion |
-5.93% |
| 2020-12-31 | CN¥76.31 Billion ≈ $11.17 Billion |
+5.27% |
| 2019-12-31 | CN¥72.50 Billion ≈ $10.61 Billion |
+4.84% |
| 2018-12-31 | CN¥69.15 Billion ≈ $10.12 Billion |
+0.52% |
| 2017-12-31 | CN¥68.80 Billion ≈ $10.07 Billion |
+3.76% |
| 2016-12-31 | CN¥66.31 Billion ≈ $9.70 Billion |
+3.82% |
| 2015-12-31 | CN¥63.87 Billion ≈ $9.35 Billion |
+24.91% |
| 2014-12-31 | CN¥51.13 Billion ≈ $7.48 Billion |
+17.79% |
| 2013-12-31 | CN¥43.41 Billion ≈ $6.35 Billion |
+9.96% |
| 2012-12-31 | CN¥39.47 Billion ≈ $5.78 Billion |
+13.12% |
| 2011-12-31 | CN¥34.90 Billion ≈ $5.11 Billion |
-5.55% |
| 2010-12-31 | CN¥36.95 Billion ≈ $5.41 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Zhejiang Zheneng Electric Power 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 421.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥28.36 Billion | 37.06% |
| Other Components | CN¥48.16 Billion | 62.94% |
| Total Equity | CN¥76.51 Billion | 100.00% |
Zhejiang Zheneng Electric Power Co Ltd Competitors by Market Cap
The table below lists competitors of Zhejiang Zheneng Electric Power Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Beijing YanDong MicroElectronic Co. Ltd. A
SHG:688172
|
$9.81 Billion |
|
Yintai Resources Co Ltd
SHE:000975
|
$9.82 Billion |
|
Impala Platinum Holdings Ltd
JSE:IMP
|
$9.82 Billion |
|
Domino's Pizza Inc Common Stock
NASDAQ:DPZ
|
$9.83 Billion |
|
SARTORIUS (UNSP.ADS)/1/5
F:SRT0
|
$9.81 Billion |
|
Hanwha Systems Co Ltd
KO:272210
|
$9.81 Billion |
|
Orient Sec Co Ltd
SHG:600958
|
$9.80 Billion |
|
D'Ieteren Group SA
BR:DIE
|
$9.80 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Zhejiang Zheneng Electric Power Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 73,315,244,000 to 76,512,396,209, a change of 3,197,152,209 (4.4%).
- Net income of 7,528,041,661 contributed positively to equity growth.
- Dividend payments of 5,747,810,795 reduced retained earnings.
- Other comprehensive income decreased equity by 11,204,517,000.
- Other factors increased equity by 12,621,438,343.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥7.53 Billion | +9.84% |
| Dividends Paid | CN¥5.75 Billion | -7.51% |
| Other Comprehensive Income | CN¥-11.20 Billion | -14.64% |
| Other Changes | CN¥12.62 Billion | +16.5% |
| Total Change | CN¥- | 4.36% |
Book Value vs Market Value Analysis
This analysis compares Zhejiang Zheneng Electric Power 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: 0.88x
- 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 1.93x to 0.88x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | CN¥2.59 | CN¥5.00 | x |
| 2011-12-31 | CN¥2.41 | CN¥5.00 | x |
| 2012-12-31 | CN¥2.75 | CN¥5.00 | x |
| 2013-12-31 | CN¥3.45 | CN¥5.00 | x |
| 2014-12-31 | CN¥3.57 | CN¥5.00 | x |
| 2015-12-31 | CN¥4.31 | CN¥5.00 | x |
| 2016-12-31 | CN¥4.31 | CN¥5.00 | x |
| 2017-12-31 | CN¥4.49 | CN¥5.00 | x |
| 2018-12-31 | CN¥4.55 | CN¥5.00 | x |
| 2019-12-31 | CN¥4.72 | CN¥5.00 | x |
| 2020-12-31 | CN¥4.99 | CN¥5.00 | x |
| 2021-12-31 | CN¥4.73 | CN¥5.00 | x |
| 2022-12-31 | CN¥4.57 | CN¥5.00 | x |
| 2023-12-31 | CN¥5.07 | CN¥5.00 | x |
| 2024-12-31 | CN¥5.48 | CN¥5.00 | x |
| 2025-12-31 | CN¥5.71 | CN¥5.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Zhejiang Zheneng Electric Power 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): 9.84%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.46%
- • Asset Turnover: 0.51x
- • Equity Multiplier: 2.04x
- Recent ROE (9.84%) is above the historical average (8.73%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 9.74% | 6.85% | 0.46x | 3.07x | CN¥-65.36 Million |
| 2011 | 9.24% | 5.06% | 0.57x | 3.18x | CN¥-179.55 Million |
| 2012 | 12.58% | 7.43% | 0.58x | 2.93x | CN¥718.06 Million |
| 2013 | 15.93% | 10.68% | 0.59x | 2.55x | CN¥2.14 Billion |
| 2014 | 13.72% | 13.50% | 0.42x | 2.40x | CN¥1.62 Billion |
| 2015 | 12.54% | 17.58% | 0.38x | 1.86x | CN¥1.41 Billion |
| 2016 | 10.68% | 15.88% | 0.37x | 1.82x | CN¥394.31 Million |
| 2017 | 7.13% | 8.47% | 0.45x | 1.86x | CN¥-1.74 Billion |
| 2018 | 6.59% | 7.13% | 0.52x | 1.79x | CN¥-2.08 Billion |
| 2019 | 6.69% | 7.90% | 0.49x | 1.73x | CN¥-2.12 Billion |
| 2020 | 8.97% | 11.78% | 0.45x | 1.69x | CN¥-698.55 Million |
| 2021 | -1.31% | -1.18% | 0.61x | 1.81x | CN¥-7.23 Billion |
| 2022 | -2.98% | -2.28% | 0.66x | 1.97x | CN¥-7.96 Billion |
| 2023 | 9.67% | 6.79% | 0.65x | 2.18x | CN¥-220.70 Million |
| 2024 | 10.58% | 8.81% | 0.57x | 2.10x | CN¥421.86 Million |
| 2025 | 9.84% | 9.46% | 0.51x | 2.04x | CN¥-123.20 Million |
Industry Comparison
This section compares Zhejiang Zheneng Electric Power Co Ltd's net assets metrics with peer companies in the Utilities - Independent Power Producers industry.
Industry Context
- Industry: Utilities - Independent Power Producers
- Average net assets among peers: $38,159,690,895
- Average return on equity (ROE) among peers: 5.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Zhejiang Zheneng Electric Power Co Ltd (600023) | CN¥90.32 Billion | 9.74% | 0.71x | $9.81 Billion |
| Guangdong Baolihua New Energy Stock Co LTD (000690) | $9.50 Billion | 9.30% | 1.00x | $1.63 Billion |
| CGN Power (003816) | $100.90 Billion | 9.42% | 2.54x | $24.17 Billion |
| Henan BCCY Environmental Energy Co. Ltd (300614) | $1.48 Billion | 7.38% | 0.22x | $244.64 Million |
| Huaneng Power International Inc (600011) | $171.36 Billion | 4.93% | 2.16x | $10.94 Billion |
| Beijing Jingneng Power Co Ltd (600578) | $35.19 Billion | 4.90% | 1.75x | $5.23 Billion |
| Sichuan Chuantou Energy Co Ltd (600674) | $541.45 Million | 22.20% | 0.77x | $11.36 Billion |
| Dalian Thermal Power Co Ltd (600719) | $718.40 Million | 1.48% | 1.04x | $477.79 Million |
| Huadian Energy (600726) | $4.59 Billion | -16.44% | 3.06x | $5.79 Billion |
| Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd (600863) | $19.16 Billion | 2.58% | 1.17x | $5.43 Billion |
About Zhejiang Zheneng Electric Power Co Ltd
Zhejiang Zheneng Electric Power Co., Ltd. engages in thermal power generation business in China and internationally. The company provides thermal products, as well as invests in nuclear power projects. It also engages in gas power generation, integrated energy and other businesses; coal-fired generation; shipping and port management services; and engineering maintenance, power equipment and engin… Read more