Sany Heavy Industry Co Ltd (600031) - Net Assets

Latest as of March 2026: CN¥91.71 Billion CNY ≈ $13.42 Billion USD

Based on the latest financial reports, Sany Heavy Industry Co Ltd (600031) has net assets worth CN¥91.71 Billion CNY (≈ $13.42 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¥174.46 Billion ≈ $25.53 Billion USD) and total liabilities (CN¥82.76 Billion ≈ $12.11 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 Sany Heavy Industry Co Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥91.71 Billion
% of Total Assets	52.56%
Annual Growth Rate	28.5%
5-Year Change	37.39%
10-Year Change	281.33%
Growth Volatility	52.08

Sany Heavy Industry Co Ltd - Net Assets Trend (2000–2025)

This chart illustrates how Sany Heavy Industry Co Ltd's net assets have evolved over time, based on quarterly financial data. See Sany Heavy Industry Co Ltd defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Sany Heavy Industry Co Ltd (2000–2025)

The table below shows the annual net assets of Sany Heavy Industry Co Ltd from 2000 to 2025. For live valuation and market cap data, see Sany Heavy Industry Co Ltd stock valuation.

Year	Net Assets	Change
2025-12-31	CN¥89.43 Billion ≈ $13.09 Billion	+22.51%
2024-12-31	CN¥73.00 Billion ≈ $10.68 Billion	+5.53%
2023-12-31	CN¥69.17 Billion ≈ $10.12 Billion	+4.79%
2022-12-31	CN¥66.01 Billion ≈ $9.66 Billion	+1.40%
2021-12-31	CN¥65.10 Billion ≈ $9.53 Billion	+11.87%
2020-12-31	CN¥58.19 Billion ≈ $8.51 Billion	+27.81%
2019-12-31	CN¥45.53 Billion ≈ $6.66 Billion	+40.07%
2018-12-31	CN¥32.50 Billion ≈ $4.76 Billion	+23.24%
2017-12-31	CN¥26.37 Billion ≈ $3.86 Billion	+12.45%
2016-12-31	CN¥23.45 Billion ≈ $3.43 Billion	-0.75%
2015-12-31	CN¥23.63 Billion ≈ $3.46 Billion	-4.49%
2014-12-31	CN¥24.74 Billion ≈ $3.62 Billion	-1.07%
2013-12-31	CN¥25.01 Billion ≈ $3.66 Billion	+1.61%
2012-12-31	CN¥24.61 Billion ≈ $3.60 Billion	+18.60%
2011-12-31	CN¥20.75 Billion ≈ $3.04 Billion	+74.13%
2010-12-31	CN¥11.92 Billion ≈ $1.74 Billion	+43.86%
2009-12-31	CN¥8.28 Billion ≈ $1.21 Billion	+33.95%
2008-12-31	CN¥6.18 Billion ≈ $905.04 Million	+22.54%
2007-12-31	CN¥5.05 Billion ≈ $738.57 Million	+83.33%
2006-12-31	CN¥2.75 Billion ≈ $402.86 Million	+28.23%
2005-12-31	CN¥2.15 Billion ≈ $314.17 Million	+9.61%
2004-12-31	CN¥1.96 Billion ≈ $286.62 Million	+14.98%
2003-12-31	CN¥1.70 Billion ≈ $249.28 Million	+259.10%
2002-12-31	CN¥474.39 Million ≈ $69.42 Million	+81.85%
2001-12-31	CN¥260.87 Million ≈ $38.17 Million	+53.83%
2000-12-31	CN¥169.59 Million ≈ $24.82 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Sany Heavy Industry 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 5838271134823.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥58.37 Billion	66.08%
Other Components	CN¥29.96 Billion	33.92%
Total Equity	CN¥88.33 Billion	100.00%

Sany Heavy Industry Co Ltd Competitors by Market Cap

The table below lists competitors of Sany Heavy Industry Co Ltd ranked by their market capitalization.

Company	Market Cap
T. Rowe Price Group Inc NASDAQ:TROW	$22.29 Billion
AVIVA PLC SPONS.ADR/2 F:GU80	$22.30 Billion
PulteGroup Inc NYSE:PHM	$22.33 Billion
Pan American Silver Corp TO:PAAS	$22.33 Billion
CHINA RES.LAND UNS.ADR/10 F:CHZ0	$22.25 Billion
Markel Corporation NYSE:MKL	$22.24 Billion
Sieyuan Electric Co Ltd SHE:002028	$22.23 Billion
China Jushi Co Ltd SHG:600176	$22.21 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Sany Heavy Industry Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 71,953,244,000 to 88,331,244,000, a change of 16,378,000,000 (22.8%).
Net income of 8,408,057,000 contributed positively to equity growth.
Dividend payments of 6,136,778,000 reduced retained earnings.
Other factors increased equity by 14,106,721,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥8.41 Billion	+9.52%
Dividends Paid	CN¥6.14 Billion	-6.95%
Other Changes	CN¥14.11 Billion	+15.97%
Total Change	CN¥-	22.76%

Book Value vs Market Value Analysis

This analysis compares Sany Heavy Industry 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: 1.87x
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 621.14x to 1.87x 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¥0.03	CN¥17.96	x
2001-12-31	CN¥0.04	CN¥17.96	x
2002-12-31	CN¥0.08	CN¥17.96	x
2003-12-31	CN¥0.29	CN¥17.96	x
2004-12-31	CN¥0.33	CN¥17.96	x
2005-12-31	CN¥0.35	CN¥17.96	x
2006-12-31	CN¥0.45	CN¥17.96	x
2007-12-31	CN¥0.79	CN¥17.96	x
2008-12-31	CN¥0.96	CN¥17.96	x
2009-12-31	CN¥0.99	CN¥17.96	x
2010-12-31	CN¥1.49	CN¥17.96	x
2011-12-31	CN¥2.59	CN¥17.96	x
2012-12-31	CN¥3.04	CN¥17.96	x
2013-12-31	CN¥3.13	CN¥17.96	x
2014-12-31	CN¥3.12	CN¥17.96	x
2015-12-31	CN¥3.20	CN¥17.96	x
2016-12-31	CN¥2.98	CN¥17.96	x
2017-12-31	CN¥3.26	CN¥17.96	x
2018-12-31	CN¥3.84	CN¥17.96	x
2019-12-31	CN¥5.36	CN¥17.96	x
2020-12-31	CN¥6.73	CN¥17.96	x
2021-12-31	CN¥7.54	CN¥17.96	x
2022-12-31	CN¥7.69	CN¥17.96	x
2023-12-31	CN¥8.04	CN¥17.96	x
2024-12-31	CN¥8.50	CN¥17.96	x
2025-12-31	CN¥9.61	CN¥17.96	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Sany Heavy Industry 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): 9.52%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 9.37%
• Asset Turnover: 0.52x
• Equity Multiplier: 1.96x
Recent ROE (9.52%) is below the historical average (20.32%), 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	35.35%	15.27%	0.65x	3.58x	CN¥42.99 Million
2001	34.98%	16.58%	0.81x	2.60x	CN¥65.16 Million
2002	44.53%	21.31%	0.85x	2.45x	CN¥162.73 Million
2003	19.10%	15.56%	0.78x	1.58x	CN¥154.76 Million
2004	17.17%	12.32%	0.61x	2.27x	CN¥136.67 Million
2005	10.42%	8.52%	0.53x	2.29x	CN¥8.78 Million
2006	21.05%	12.18%	0.77x	2.23x	CN¥292.59 Million
2007	33.95%	17.56%	0.82x	2.36x	CN¥1.13 Billion
2008	21.11%	8.96%	0.98x	2.39x	CN¥648.43 Million
2009	26.07%	11.90%	1.04x	2.10x	CN¥1.21 Billion
2010	49.47%	16.54%	1.08x	2.76x	CN¥4.48 Billion
2011	43.99%	17.03%	0.99x	2.61x	CN¥6.68 Billion
2012	24.70%	12.14%	0.73x	2.80x	CN¥3.38 Billion
2013	12.16%	7.78%	0.58x	2.67x	CN¥514.82 Million
2014	2.98%	2.34%	0.48x	2.65x	CN¥-1.67 Billion
2015	0.02%	0.02%	0.38x	2.70x	CN¥-2.26 Billion
2016	0.90%	0.87%	0.38x	2.71x	CN¥-2.07 Billion
2017	8.21%	5.46%	0.66x	2.28x	CN¥-457.51 Million
2018	19.43%	10.96%	0.76x	2.34x	CN¥2.97 Billion
2019	25.50%	14.86%	0.84x	2.04x	CN¥6.88 Billion
2020	27.29%	15.43%	0.79x	2.23x	CN¥9.78 Billion
2021	18.89%	11.26%	0.77x	2.18x	CN¥5.66 Billion
2022	6.60%	5.31%	0.51x	2.44x	CN¥-2.21 Billion
2023	6.65%	6.12%	0.49x	2.22x	CN¥-2.28 Billion
2024	8.30%	7.62%	0.52x	2.11x	CN¥-1.22 Billion
2025	9.52%	9.37%	0.52x	1.96x	CN¥-425.07 Million

Industry Comparison

This section compares Sany Heavy Industry Co Ltd's net assets metrics with peer companies in the Farm & Heavy Construction Machinery industry.

Industry Context

Industry: Farm & Heavy Construction Machinery
Average net assets among peers: $7,161,358,712
Average return on equity (ROE) among peers: 7.39%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Sany Heavy Industry Co Ltd (600031)	CN¥91.71 Billion	35.35%	0.90x	$22.27 Billion
Zoomlion Heavy Industry Science and Technology Co Ltd (000157)	$59.84 Billion	5.88%	1.07x	$7.53 Billion
XCMG Construction Machinery Co Ltd (000425)	$980.54 Million	8.78%	1.20x	$16.11 Billion
Guangxi Liugong Machinery Co Ltd (000528)	$736.80 Million	2.73%	0.71x	$2.64 Billion
Shantui Construction Machinery Co Ltd (000680)	$562.10 Million	2.39%	1.35x	$2.38 Billion
Faw Car Co Ltd (000800)	$4.84 Billion	10.72%	0.19x	$4.41 Billion
JiangSu JiangHuai Engine Co Ltd (000816)	$1.28 Billion	11.29%	1.21x	$571.71 Million
HBIS Resources Co Ltd (000923)	$372.01 Million	-11.73%	1.21x	$1.50 Billion
Sinotruk Jinan Truck Co Ltd (000951)	$300.43 Million	0.00%	3.30x	$3.91 Billion
Zhongtong Bus Holding Co Ltd (000957)	$2.59 Billion	22.66%	2.13x	$894.50 Million
Sunward Intelligent Equipment Co Ltd (002097)	$124.23 Million	21.20%	1.64x	$1.33 Billion

About Sany Heavy Industry Co Ltd

SHG:600031 China Farm & Heavy Construction Machinery

Market Cap

$22.27 Billion

CN¥152.20 Billion CNY

Market Cap Rank

#1161 Global

#93 in China

Share Price

CN¥17.96

Change (1 day)

-0.99%

52-Week Range

CN¥17.44 - CN¥23.98

All Time High

CN¥45.21