Poly Real Estate Group Co Ltd
Poly Developments and Holdings Group Co., Ltd. engages in the investment, development, and management of real estate properties in China and internationally. The company develops rental housing, shopping centers, hotels, and office buildings. It also operates exhibition halls and stadiums. In addition, it provides exhibition, enterprise management, business, information consulting, and property m… Read more
Poly Real Estate Group Co Ltd (600048) - Net Assets
Latest net assets as of September 2025: CN¥339.67 Billion CNY
Based on the latest financial reports, Poly Real Estate Group Co Ltd (600048) has net assets worth CN¥339.67 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¥1.29 Trillion) and total liabilities (CN¥947.72 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¥339.67 Billion |
| % of Total Assets | 26.38% |
| Annual Growth Rate | 35.98% |
| 5-Year Change | 28.46% |
| 10-Year Change | 252.61% |
| Growth Volatility | 61.32 |
Poly Real Estate Group Co Ltd - Net Assets Trend (2003–2024)
This chart illustrates how Poly Real Estate Group 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 Poly Real Estate Group Co Ltd (2003–2024)
The table below shows the annual net assets of Poly Real Estate Group Co Ltd from 2003 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥342.53 Billion | +1.63% |
| 2023-12-31 | CN¥337.03 Billion | +4.60% |
| 2022-12-31 | CN¥322.19 Billion | +6.36% |
| 2021-12-31 | CN¥302.91 Billion | +13.61% |
| 2020-12-31 | CN¥266.64 Billion | +16.17% |
| 2019-12-31 | CN¥229.52 Billion | +23.07% |
| 2018-12-31 | CN¥186.49 Billion | +17.86% |
| 2017-12-31 | CN¥158.24 Billion | +33.99% |
| 2016-12-31 | CN¥118.10 Billion | +21.58% |
| 2015-12-31 | CN¥97.14 Billion | +20.12% |
| 2014-12-31 | CN¥80.87 Billion | +16.95% |
| 2013-12-31 | CN¥69.15 Billion | +26.24% |
| 2012-12-31 | CN¥54.78 Billion | +30.23% |
| 2011-12-31 | CN¥42.06 Billion | +31.37% |
| 2010-12-31 | CN¥32.02 Billion | +18.76% |
| 2009-12-31 | CN¥26.96 Billion | +72.02% |
| 2008-12-31 | CN¥15.67 Billion | +22.12% |
| 2007-12-31 | CN¥12.83 Billion | +220.33% |
| 2006-12-31 | CN¥4.01 Billion | +233.04% |
| 2005-12-31 | CN¥1.20 Billion | +53.32% |
| 2004-12-31 | CN¥784.69 Million | +45.69% |
| 2003-12-31 | CN¥538.58 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Poly Real Estate Group 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 187122.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥157.82 Billion | 79.87% |
| Common Stock | CN¥11.97 Billion | 6.06% |
| Other Components | CN¥27.81 Billion | 14.07% |
| Total Equity | CN¥197.60 Billion | 100.00% |
Poly Real Estate Group Co Ltd Competitors by Market Cap
The table below lists competitors of Poly Real Estate Group Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tempur Sealy International Inc
NYSE:TPX
|
$10.51 Billion |
|
SHAND.GOLD MNG LTD H HD 1
F:188H
|
$10.51 Billion |
|
Western Midstream Partners LP
NYSE:WES
|
$10.51 Billion |
|
Aramark Holdings
NYSE:ARMK
|
$10.51 Billion |
|
Great-West Lifeco Inc
PINK:GWLIF
|
$10.50 Billion |
|
Sinopac Financial Holdings Co Ltd
TW:2890
|
$10.49 Billion |
|
WATSCO INC. B CV DL-50
F:WC30
|
$10.47 Billion |
|
First Horizon National Corporation
NYSE:FHN
|
$10.46 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Poly Real Estate Group Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 198,543,096,879 to 197,596,494,000, a change of -946,602,879 (-0.5%).
- Net income of 5,001,183,000 contributed positively to equity growth.
- Dividend payments of 19,031,555,000 reduced retained earnings.
- Other factors increased equity by 13,083,769,121.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥5.00 Billion | +2.53% |
| Dividends Paid | CN¥19.03 Billion | -9.63% |
| Other Changes | CN¥13.08 Billion | +6.62% |
| Total Change | CN¥- | -0.48% |
Book Value vs Market Value Analysis
This analysis compares Poly Real Estate Group 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: 0.39x
- 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 191.21x to 0.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2003-12-31 | CN¥0.03 | CN¥6.46 | x |
| 2004-12-31 | CN¥0.05 | CN¥6.46 | x |
| 2005-12-31 | CN¥0.08 | CN¥6.46 | x |
| 2006-12-31 | CN¥0.45 | CN¥6.46 | x |
| 2007-12-31 | CN¥1.32 | CN¥6.46 | x |
| 2008-12-31 | CN¥1.45 | CN¥6.46 | x |
| 2009-12-31 | CN¥2.47 | CN¥6.46 | x |
| 2010-12-31 | CN¥2.78 | CN¥6.46 | x |
| 2011-12-31 | CN¥3.28 | CN¥6.46 | x |
| 2012-12-31 | CN¥3.96 | CN¥6.46 | x |
| 2013-12-31 | CN¥4.82 | CN¥6.46 | x |
| 2014-12-31 | CN¥5.74 | CN¥6.46 | x |
| 2015-12-31 | CN¥6.66 | CN¥6.46 | x |
| 2016-12-31 | CN¥7.90 | CN¥6.46 | x |
| 2017-12-31 | CN¥9.03 | CN¥6.46 | x |
| 2018-12-31 | CN¥10.25 | CN¥6.46 | x |
| 2019-12-31 | CN¥13.11 | CN¥6.46 | x |
| 2020-12-31 | CN¥15.07 | CN¥6.46 | x |
| 2021-12-31 | CN¥16.34 | CN¥6.46 | x |
| 2022-12-31 | CN¥16.40 | CN¥6.46 | x |
| 2023-12-31 | CN¥16.62 | CN¥6.46 | x |
| 2024-12-31 | CN¥16.59 | CN¥6.46 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Poly Real Estate Group 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): 2.53%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.60%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 6.76x
- Recent ROE (2.53%) is below the historical average (17.12%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 17.32% | 11.27% | 0.34x | 4.59x | CN¥29.58 Million |
| 2004 | 33.15% | 12.13% | 0.37x | 7.40x | CN¥132.05 Million |
| 2005 | 42.81% | 17.27% | 0.29x | 8.43x | CN¥311.82 Million |
| 2006 | 18.16% | 16.36% | 0.24x | 4.55x | CN¥296.09 Million |
| 2007 | 12.49% | 18.35% | 0.20x | 3.43x | CN¥296.56 Million |
| 2008 | 15.90% | 14.43% | 0.29x | 3.81x | CN¥830.92 Million |
| 2009 | 14.03% | 15.31% | 0.26x | 3.58x | CN¥1.01 Billion |
| 2010 | 16.56% | 13.71% | 0.24x | 5.13x | CN¥1.95 Billion |
| 2011 | 18.52% | 13.88% | 0.24x | 5.53x | CN¥3.01 Billion |
| 2012 | 19.86% | 12.25% | 0.27x | 5.91x | CN¥4.19 Billion |
| 2013 | 20.76% | 11.64% | 0.29x | 6.06x | CN¥5.57 Billion |
| 2014 | 19.87% | 11.19% | 0.30x | 5.96x | CN¥6.06 Billion |
| 2015 | 17.26% | 10.00% | 0.31x | 5.65x | CN¥5.20 Billion |
| 2016 | 13.92% | 8.03% | 0.33x | 5.24x | CN¥3.50 Billion |
| 2017 | 14.61% | 10.66% | 0.21x | 6.51x | CN¥4.94 Billion |
| 2018 | 15.50% | 9.72% | 0.23x | 6.94x | CN¥6.71 Billion |
| 2019 | 17.92% | 11.85% | 0.23x | 6.62x | CN¥12.36 Billion |
| 2020 | 16.06% | 11.91% | 0.19x | 6.94x | CN¥10.93 Billion |
| 2021 | 14.00% | 9.61% | 0.20x | 7.16x | CN¥7.83 Billion |
| 2022 | 9.33% | 6.52% | 0.19x | 7.49x | CN¥-1.31 Billion |
| 2023 | 6.08% | 3.48% | 0.24x | 7.24x | CN¥-7.79 Billion |
| 2024 | 2.53% | 1.60% | 0.23x | 6.76x | CN¥-14.76 Billion |
Industry Comparison
This section compares Poly Real Estate Group Co Ltd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $13,024,946,017
- Average return on equity (ROE) among peers: 4.99%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Poly Real Estate Group Co Ltd (600048) | CN¥339.67 Billion | 17.32% | 2.79x | $10.51 Billion |
| China Vanke Co Ltd Class A (000002) | $54.59 Billion | 13.34% | 2.95x | $5.23 Billion |
| Shenzhen Zhenye Group Co Ltd (000006) | $429.54 Million | 10.56% | 0.61x | $1.05 Billion |
| Shahe Industry Co Ltd (000014) | $1.68 Billion | 0.98% | 0.31x | $312.36 Million |
| Grandjoy Holdings Group Co Ltd (000031) | $47.50 Billion | -6.07% | 3.51x | $571.80 Million |
| China Union Holdings Ltd (000036) | $1.10 Billion | 8.64% | 1.40x | $361.94 Million |
| Shenzhen Centralcon Investment Holding Co Ltd (000042) | $2.53 Billion | 12.62% | 1.83x | $287.12 Million |
| Financial Street Holdings Co Ltd (000402) | $21.05 Billion | 10.78% | 2.33x | $774.22 Million |
| Chongqing Yukaifa Co Ltd (000514) | $120.33 Million | 7.23% | 0.42x | $208.71 Million |
| Rongan Property Co Ltd (000517) | $185.43 Million | -6.66% | 0.67x | $209.16 Million |
| Lander Sports Development Co Ltd (000558) | $1.08 Billion | -1.57% | 0.70x | $544.98 Million |