Ningbo United Group Co Ltd (600051) - Net Assets

Latest as of March 2026: CN¥3.71 Billion CNY ≈ $543.40 Million USD

Based on the latest financial reports, Ningbo United Group Co Ltd (600051) has net assets worth CN¥3.71 Billion CNY (≈ $543.40 Million 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¥4.55 Billion ≈ $666.02 Million USD) and total liabilities (CN¥837.98 Million ≈ $122.62 Million 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 how tangible is Ningbo United Group Co Ltd's equity to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥3.71 Billion
% of Total Assets	81.59%
Annual Growth Rate	10.56%
5-Year Change	5.64%
10-Year Change	75.54%
Growth Volatility	28.57

Ningbo United Group Co Ltd - Net Assets Trend (1993–2025)

This chart illustrates how Ningbo United Group Co Ltd's net assets have evolved over time, based on quarterly financial data. See 600051 cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Ningbo United Group Co Ltd (1993–2025)

The table below shows the annual net assets of Ningbo United Group Co Ltd from 1993 to 2025. For live valuation and market cap data, see 600051 stock market capitalisation.

Year	Net Assets	Change
2025-12-31	CN¥3.71 Billion ≈ $543.01 Million	-0.02%
2024-12-31	CN¥3.71 Billion ≈ $543.10 Million	+0.87%
2023-12-31	CN¥3.68 Billion ≈ $538.41 Million	+1.24%
2022-12-31	CN¥3.63 Billion ≈ $531.81 Million	+3.46%
2021-12-31	CN¥3.51 Billion ≈ $514.02 Million	+7.94%
2020-12-31	CN¥3.25 Billion ≈ $476.22 Million	+16.04%
2019-12-31	CN¥2.80 Billion ≈ $410.37 Million	+5.61%
2018-12-31	CN¥2.66 Billion ≈ $388.58 Million	-1.49%
2017-12-31	CN¥2.70 Billion ≈ $394.47 Million	+27.52%
2016-12-31	CN¥2.11 Billion ≈ $309.34 Million	+3.57%
2015-12-31	CN¥2.04 Billion ≈ $298.67 Million	-1.32%
2014-12-31	CN¥2.07 Billion ≈ $302.65 Million	+9.73%
2013-12-31	CN¥1.88 Billion ≈ $275.82 Million	-5.44%
2012-12-31	CN¥1.99 Billion ≈ $291.68 Million	+4.43%
2011-12-31	CN¥1.91 Billion ≈ $279.32 Million	+3.73%
2010-12-31	CN¥1.84 Billion ≈ $269.26 Million	+12.02%
2009-12-31	CN¥1.64 Billion ≈ $240.36 Million	+18.95%
2008-12-31	CN¥1.38 Billion ≈ $202.08 Million	-6.73%
2007-12-31	CN¥1.48 Billion ≈ $216.66 Million	+6.38%
2006-12-31	CN¥1.39 Billion ≈ $203.68 Million	+68.82%
2005-12-31	CN¥824.46 Million ≈ $120.64 Million	-6.55%
2004-12-31	CN¥882.22 Million ≈ $129.10 Million	-8.80%
2003-12-31	CN¥967.33 Million ≈ $141.55 Million	-12.17%
2002-12-31	CN¥1.10 Billion ≈ $161.16 Million	+16.59%
2001-12-31	CN¥944.63 Million ≈ $138.23 Million	+4.78%
2000-12-31	CN¥901.51 Million ≈ $131.92 Million	+1.10%
1999-12-31	CN¥891.70 Million ≈ $130.48 Million	-2.64%
1998-12-31	CN¥915.85 Million ≈ $134.02 Million	+4.59%
1997-12-31	CN¥875.64 Million ≈ $128.13 Million	+133.83%
1996-12-31	CN¥374.47 Million ≈ $54.80 Million	+8.54%
1995-12-31	CN¥345.02 Million ≈ $50.49 Million	+73.03%
1994-12-31	CN¥199.40 Million ≈ $29.18 Million	+33.50%
1993-12-31	CN¥149.36 Million ≈ $21.86 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Ningbo United 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 484936.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥2.54 Billion	74.39%
Other Components	CN¥874.14 Million	25.61%
Total Equity	CN¥3.41 Billion	100.00%

Ningbo United Group Co Ltd Competitors by Market Cap

The table below lists competitors of Ningbo United Group Co Ltd ranked by their market capitalization.

Company	Market Cap
Ningbo GQY Video Telecom SHE:300076	$279.82 Million
Forcecon Technology Co Ltd TWO:3483	$279.87 Million
Keysino Separation Technology Inc SHE:300899	$279.91 Million
Marine Products Corporation NYSE:MPX	$280.04 Million
Brightstar Resources Ltd AU:BTR	$279.63 Million
Jeju Air Co Ltd KO:089590	$279.56 Million
XiAn Qujiang Cultural Tourism Co Ltd SHG:600706	$279.55 Million
Grindrod Shipping Holdings Ltd NASDAQ:GRIN	$279.54 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Ningbo United Group Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 3,366,870,844 to 3,413,876,264, a change of 47,005,420 (1.4%).
Net income of 84,387,429 contributed positively to equity growth.
Dividend payments of 52,089,907 reduced retained earnings.
Other comprehensive income decreased equity by 414,850,543.
Other factors increased equity by 429,558,441.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥84.39 Million	+2.47%
Dividends Paid	CN¥52.09 Million	-1.53%
Other Comprehensive Income	CN¥-414.85 Million	-12.15%
Other Changes	CN¥429.56 Million	+12.58%
Total Change	CN¥-	1.40%

Book Value vs Market Value Analysis

This analysis compares Ningbo United 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: 0.56x
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 10.81x to 0.56x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1993-12-31	CN¥0.57	CN¥6.15	x
1994-12-31	CN¥0.76	CN¥6.15	x
1995-12-31	CN¥1.24	CN¥6.15	x
1996-12-31	CN¥1.30	CN¥6.15	x
1997-12-31	CN¥3.06	CN¥6.15	x
1998-12-31	CN¥3.15	CN¥6.15	x
1999-12-31	CN¥3.05	CN¥6.15	x
2000-12-31	CN¥3.04	CN¥6.15	x
2001-12-31	CN¥3.13	CN¥6.15	x
2002-12-31	CN¥3.27	CN¥6.15	x
2003-12-31	CN¥3.23	CN¥6.15	x
2004-12-31	CN¥3.17	CN¥6.15	x
2005-12-31	CN¥2.98	CN¥6.15	x
2006-12-31	CN¥3.55	CN¥6.15	x
2007-12-31	CN¥4.42	CN¥6.15	x
2008-12-31	CN¥4.04	CN¥6.15	x
2009-12-31	CN¥4.83	CN¥6.15	x
2010-12-31	CN¥5.55	CN¥6.15	x
2011-12-31	CN¥5.84	CN¥6.15	x
2012-12-31	CN¥6.25	CN¥6.15	x
2013-12-31	CN¥5.92	CN¥6.15	x
2014-12-31	CN¥6.18	CN¥6.15	x
2015-12-31	CN¥6.19	CN¥6.15	x
2016-12-31	CN¥6.25	CN¥6.15	x
2017-12-31	CN¥7.84	CN¥6.15	x
2018-12-31	CN¥7.69	CN¥6.15	x
2019-12-31	CN¥8.56	CN¥6.15	x
2020-12-31	CN¥9.52	CN¥6.15	x
2021-12-31	CN¥10.06	CN¥6.15	x
2022-12-31	CN¥10.42	CN¥6.15	x
2023-12-31	CN¥10.64	CN¥6.15	x
2024-12-31	CN¥10.83	CN¥6.15	x
2025-12-31	CN¥10.98	CN¥6.15	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ningbo United 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): 2.47%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 6.66%
• Asset Turnover: 0.28x
• Equity Multiplier: 1.32x
Recent ROE (2.47%) is below the historical average (10.73%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1993	33.70%	6.09%	1.26x	4.40x	CN¥35.40 Million
1994	37.50%	8.23%	1.20x	3.81x	CN¥54.83 Million
1995	31.38%	8.73%	1.38x	2.61x	CN¥69.85 Million
1996	27.82%	13.01%	0.77x	2.78x	CN¥60.91 Million
1997	14.82%	10.73%	0.79x	1.76x	CN¥38.73 Million
1998	6.17%	3.95%	0.81x	1.94x	CN¥-31.62 Million
1999	4.49%	1.80%	1.20x	2.07x	CN¥-44.15 Million
2000	6.28%	1.70%	1.61x	2.31x	CN¥-29.66 Million
2001	6.60%	1.49%	1.59x	2.78x	CN¥-27.93 Million
2002	3.80%	0.82%	1.40x	3.32x	CN¥-53.19 Million
2003	2.62%	0.43%	1.41x	4.36x	CN¥-62.64 Million
2004	3.56%	0.70%	1.69x	3.01x	CN¥-53.53 Million
2005	5.48%	1.37%	0.81x	4.91x	CN¥-35.35 Million
2006	21.67%	4.70%	1.29x	3.57x	CN¥125.87 Million
2007	6.11%	2.22%	0.98x	2.81x	CN¥-51.84 Million
2008	10.16%	3.90%	0.91x	2.86x	CN¥1.95 Million
2009	8.70%	4.04%	0.62x	3.46x	CN¥-18.89 Million
2010	10.08%	4.86%	0.66x	3.16x	CN¥1.38 Million
2011	12.85%	5.50%	0.76x	3.06x	CN¥50.45 Million
2012	1.76%	1.09%	0.47x	3.45x	CN¥-155.09 Million
2013	3.38%	2.13%	0.37x	4.35x	CN¥-117.79 Million
2014	6.15%	2.57%	0.58x	4.13x	CN¥-71.59 Million
2015	6.78%	3.44%	0.46x	4.32x	CN¥-60.38 Million
2016	7.68%	3.55%	0.51x	4.21x	CN¥-44.95 Million
2017	19.85%	7.02%	1.01x	2.80x	CN¥238.72 Million
2018	10.41%	6.31%	0.60x	2.77x	CN¥9.74 Million
2019	12.03%	8.26%	0.49x	2.99x	CN¥54.01 Million
2020	11.66%	7.00%	0.70x	2.39x	CN¥48.84 Million
2021	7.96%	6.69%	0.61x	1.95x	CN¥-64.10 Million
2022	4.61%	5.64%	0.41x	1.97x	CN¥-175.46 Million
2023	3.20%	6.02%	0.32x	1.67x	CN¥-226.10 Million
2024	2.41%	4.54%	0.34x	1.55x	CN¥-255.51 Million
2025	2.47%	6.66%	0.28x	1.32x	CN¥-257.00 Million

Industry Comparison

This section compares Ningbo United Group Co Ltd's net assets metrics with peer companies in the Industrial Distribution industry.

Industry Context

Industry: Industrial Distribution
Average net assets among peers: $2,069,816,982
Average return on equity (ROE) among peers: 2.63%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ningbo United Group Co Ltd (600051)	CN¥3.71 Billion	33.70%	0.23x	$279.77 Million
China National Complete Plant Import & Export Corp Ltd (000151)	$861.74 Million	-1.28%	0.38x	$739.93 Million
Sichuan Goldstone Orient New Material Equipment Co Ltd (300434)	$2.55 Billion	4.54%	0.23x	$537.32 Million
Shandong Hiking International Co Ltd Class A (600735)	$723.49 Million	5.41%	0.26x	$410.34 Million
Orient Group Inc (600811)	$3.29 Billion	3.44%	1.12x	$192.74 Million
Asian Star Anchor Chain Co Ltd Jiangsu (601890)	$2.92 Billion	1.02%	0.30x	$1.24 Billion

About Ningbo United Group Co Ltd

SHG:600051 China Industrial Distribution

Market Cap

$279.77 Million

CN¥1.91 Billion CNY

Market Cap Rank

#15287 Global

#4530 in China

Share Price

CN¥6.15

Change (1 day)

-0.32%

52-Week Range

CN¥6.15 - CN¥8.27

All Time High

CN¥12.52