Poly Real Estate Group Co Ltd (600048) - Net Assets

Latest as of September 2025: CN¥339.67 Billion CNY ≈ $49.70 Billion USD

Based on the latest financial reports, Poly Real Estate Group Co Ltd (600048) has net assets worth CN¥339.67 Billion CNY (≈ $49.70 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¥1.29 Trillion ≈ $188.39 Billion USD) and total liabilities (CN¥947.72 Billion ≈ $138.68 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 Poly Real Estate Group Co Ltd (600048) asset resilience to evaluate the company's liquid asset resilience ratio.

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. Also explore Poly Real Estate Group Co Ltd assets under control for the complete picture of this company's asset base.

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. For live valuation and market cap data, see 600048 market cap overview.

Year	Net Assets	Change
2024-12-31	CN¥342.53 Billion ≈ $50.12 Billion	+1.63%
2023-12-31	CN¥337.03 Billion ≈ $49.32 Billion	+4.60%
2022-12-31	CN¥322.19 Billion ≈ $47.15 Billion	+6.36%
2021-12-31	CN¥302.91 Billion ≈ $44.33 Billion	+13.61%
2020-12-31	CN¥266.64 Billion ≈ $39.02 Billion	+16.17%
2019-12-31	CN¥229.52 Billion ≈ $33.59 Billion	+23.07%
2018-12-31	CN¥186.49 Billion ≈ $27.29 Billion	+17.86%
2017-12-31	CN¥158.24 Billion ≈ $23.16 Billion	+33.99%
2016-12-31	CN¥118.10 Billion ≈ $17.28 Billion	+21.58%
2015-12-31	CN¥97.14 Billion ≈ $14.21 Billion	+20.12%
2014-12-31	CN¥80.87 Billion ≈ $11.83 Billion	+16.95%
2013-12-31	CN¥69.15 Billion ≈ $10.12 Billion	+26.24%
2012-12-31	CN¥54.78 Billion ≈ $8.02 Billion	+30.23%
2011-12-31	CN¥42.06 Billion ≈ $6.16 Billion	+31.37%
2010-12-31	CN¥32.02 Billion ≈ $4.69 Billion	+18.76%
2009-12-31	CN¥26.96 Billion ≈ $3.95 Billion	+72.02%
2008-12-31	CN¥15.67 Billion ≈ $2.29 Billion	+22.12%
2007-12-31	CN¥12.83 Billion ≈ $1.88 Billion	+220.33%
2006-12-31	CN¥4.01 Billion ≈ $586.30 Million	+233.04%
2005-12-31	CN¥1.20 Billion ≈ $176.05 Million	+53.32%
2004-12-31	CN¥784.69 Million ≈ $114.82 Million	+45.69%
2003-12-31	CN¥538.58 Million ≈ $78.81 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
China Eastern Airlines Corp Ltd SHG:600115	$10.76 Billion
Sime Darby Plantation Bhd KLSE:5285	$10.77 Billion
Alcoa Corp NYSE:AA	$10.77 Billion
Essential Utilities Inc NYSE:WTRG	$10.77 Billion
TURKIYE GARANTI BANKASI AS F:GBKB	$10.75 Billion
Encompass Health Corp NYSE:EHC	$10.75 Billion
Sonova H Ag SW:SOON	$10.75 Billion
Far EasTone Telecommunications Co Ltd TW:4904	$10.74 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: 0.37x
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 181.74x to 0.37x 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¥6.14	x
2004-12-31	CN¥0.05	CN¥6.14	x
2005-12-31	CN¥0.08	CN¥6.14	x
2006-12-31	CN¥0.45	CN¥6.14	x
2007-12-31	CN¥1.32	CN¥6.14	x
2008-12-31	CN¥1.45	CN¥6.14	x
2009-12-31	CN¥2.47	CN¥6.14	x
2010-12-31	CN¥2.78	CN¥6.14	x
2011-12-31	CN¥3.28	CN¥6.14	x
2012-12-31	CN¥3.96	CN¥6.14	x
2013-12-31	CN¥4.82	CN¥6.14	x
2014-12-31	CN¥5.74	CN¥6.14	x
2015-12-31	CN¥6.66	CN¥6.14	x
2016-12-31	CN¥7.90	CN¥6.14	x
2017-12-31	CN¥9.03	CN¥6.14	x
2018-12-31	CN¥10.25	CN¥6.14	x
2019-12-31	CN¥13.11	CN¥6.14	x
2020-12-31	CN¥15.07	CN¥6.14	x
2021-12-31	CN¥16.34	CN¥6.14	x
2022-12-31	CN¥16.40	CN¥6.14	x
2023-12-31	CN¥16.62	CN¥6.14	x
2024-12-31	CN¥16.59	CN¥6.14	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: $14,185,137,300
Average return on equity (ROE) among peers: 8.46%

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	$10.76 Billion
China Vanke Co Ltd Class A (000002)	$105.44 Billion	14.34%	3.54x	$5.56 Billion
Shenzhen Zhenye Group Co Ltd (000006)	$5.71 Billion	14.12%	1.30x	$1.92 Billion
Shenzhen Properties & Resources Development Group Ltd (000011)	$2.41 Billion	14.72%	1.76x	$623.95 Million
Shahe Industry Co Ltd (000014)	$993.60 Million	4.93%	1.56x	$467.53 Million
Grandjoy Holdings Group Co Ltd (000031)	$1.05 Billion	5.59%	0.57x	$1.92 Billion
China Union Holdings Ltd (000036)	$1.02 Billion	7.97%	1.19x	$1.15 Billion
Shenzhen Centralcon Investment Holding Co Ltd (000042)	$1.91 Billion	10.58%	1.82x	$936.86 Million
Shenzhen Wongtee International Enterprise Co Ltd (000056)	$5.81 Billion	1.56%	1.28x	$239.16 Million
Financial Street Holdings Co Ltd (000402)	$17.24 Billion	10.34%	2.14x	$1.39 Billion
Chongqing Yukaifa Co Ltd (000514)	$280.39 Million	0.42%	2.43x	$608.71 Million

About Poly Real Estate Group Co Ltd

SHG:600048 China Real Estate - Development

Market Cap

$10.76 Billion

CN¥73.50 Billion CNY

Market Cap Rank

#2126 Global

#247 in China

Share Price

CN¥6.14

Change (1 day)

+0.00%

52-Week Range

CN¥5.50 - CN¥8.50

All Time High

CN¥18.24