Tbea Co Ltd (600089) - Net Assets
Based on the latest financial reports, Tbea Co Ltd (600089) has net assets worth CN¥104.83 Billion CNY (≈ $15.34 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¥241.40 Billion ≈ $35.32 Billion USD) and total liabilities (CN¥136.58 Billion ≈ $19.99 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 600089 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥104.83 Billion |
| % of Total Assets | 43.42% |
| Annual Growth Rate | 31.23% |
| 5-Year Change | 77.05% |
| 10-Year Change | 267.86% |
| Growth Volatility | 57.03 |
Tbea Co Ltd - Net Assets Trend (1994–2025)
This chart illustrates how Tbea Co Ltd's net assets have evolved over time, based on quarterly financial data. See 600089 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Tbea Co Ltd (1994–2025)
The table below shows the annual net assets of Tbea Co Ltd from 1994 to 2025. For live valuation and market cap data, see 600089 market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥100.85 Billion ≈ $14.76 Billion |
+12.01% |
| 2024-12-31 | CN¥90.04 Billion ≈ $13.18 Billion |
+2.63% |
| 2023-12-31 | CN¥87.73 Billion ≈ $12.84 Billion |
+9.45% |
| 2022-12-31 | CN¥80.16 Billion ≈ $11.73 Billion |
+40.72% |
| 2021-12-31 | CN¥56.96 Billion ≈ $8.34 Billion |
+22.25% |
| 2020-12-31 | CN¥46.60 Billion ≈ $6.82 Billion |
+8.29% |
| 2019-12-31 | CN¥43.03 Billion ≈ $6.30 Billion |
+10.38% |
| 2018-12-31 | CN¥38.98 Billion ≈ $5.70 Billion |
+14.59% |
| 2017-12-31 | CN¥34.02 Billion ≈ $4.98 Billion |
+24.08% |
| 2016-12-31 | CN¥27.42 Billion ≈ $4.01 Billion |
+11.14% |
| 2015-12-31 | CN¥24.67 Billion ≈ $3.61 Billion |
+17.36% |
| 2014-12-31 | CN¥21.02 Billion ≈ $3.08 Billion |
+31.78% |
| 2013-12-31 | CN¥15.95 Billion ≈ $2.33 Billion |
+7.08% |
| 2012-12-31 | CN¥14.90 Billion ≈ $2.18 Billion |
+6.00% |
| 2011-12-31 | CN¥14.05 Billion ≈ $2.06 Billion |
+11.04% |
| 2010-12-31 | CN¥12.66 Billion ≈ $1.85 Billion |
+58.87% |
| 2009-12-31 | CN¥7.97 Billion ≈ $1.17 Billion |
+34.44% |
| 2008-12-31 | CN¥5.93 Billion ≈ $867.09 Million |
+77.67% |
| 2007-12-31 | CN¥3.34 Billion ≈ $488.03 Million |
+43.34% |
| 2006-12-31 | CN¥2.33 Billion ≈ $340.47 Million |
+10.47% |
| 2005-12-31 | CN¥2.11 Billion ≈ $308.20 Million |
+13.65% |
| 2004-12-31 | CN¥1.85 Billion ≈ $271.17 Million |
+24.95% |
| 2003-12-31 | CN¥1.48 Billion ≈ $217.02 Million |
+48.12% |
| 2002-12-31 | CN¥1.00 Billion ≈ $146.51 Million |
+6.77% |
| 2001-12-31 | CN¥937.75 Million ≈ $137.22 Million |
+6.74% |
| 2000-12-31 | CN¥878.52 Million ≈ $128.56 Million |
+55.16% |
| 1999-12-31 | CN¥566.20 Million ≈ $82.85 Million |
+24.97% |
| 1998-12-31 | CN¥453.06 Million ≈ $66.30 Million |
+82.73% |
| 1997-12-31 | CN¥247.94 Million ≈ $36.28 Million |
+167.82% |
| 1996-12-31 | CN¥92.58 Million ≈ $13.55 Million |
+294.11% |
| 1995-12-31 | CN¥23.49 Million ≈ $3.44 Million |
+6.14% |
| 1994-12-31 | CN¥22.13 Million ≈ $3.24 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tbea 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 1108318.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥47.00 Billion | 63.18% |
| Other Components | CN¥27.39 Billion | 36.82% |
| Total Equity | CN¥74.39 Billion | 100.00% |
Tbea Co Ltd Competitors by Market Cap
The table below lists competitors of Tbea Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SAIC Motor Corp Ltd
SHG:600104
|
$17.91 Billion |
|
E.SUN Financial Holding Co Ltd
TW:2884
|
$17.94 Billion |
|
Luzhou Lao Jiao Co Ltd
SHE:000568
|
$17.94 Billion |
|
OMV AG ADR 1
F:OMVI
|
$18.00 Billion |
|
Brookfield Infrastructure Partners L.P
TO:BIP-UN
|
$17.82 Billion |
|
FORTUM OYJ ADR 1/5/EO340
F:FOT0
|
$17.80 Billion |
|
Brambles Ltd
AU:BXB
|
$17.75 Billion |
|
Essity AB (publ)
ST:ESSITY-B
|
$17.73 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tbea Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 67,439,883,000 to 74,391,821,611, a change of 6,951,938,611 (10.3%).
- Net income of 5,954,294,958 contributed positively to equity growth.
- Dividend payments of 2,596,377,072 reduced retained earnings.
- Other factors increased equity by 3,594,020,724.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥5.95 Billion | +8.0% |
| Dividends Paid | CN¥2.60 Billion | -3.49% |
| Other Changes | CN¥3.59 Billion | +4.83% |
| Total Change | CN¥- | 10.31% |
Book Value vs Market Value Analysis
This analysis compares Tbea 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: 1.64x
- 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 2038.68x to 1.64x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1994-12-31 | CN¥0.01 | CN¥24.11 | x |
| 1995-12-31 | CN¥0.01 | CN¥24.11 | x |
| 1996-12-31 | CN¥0.05 | CN¥24.11 | x |
| 1997-12-31 | CN¥0.13 | CN¥24.11 | x |
| 1998-12-31 | CN¥0.24 | CN¥24.11 | x |
| 1999-12-31 | CN¥0.28 | CN¥24.11 | x |
| 2000-12-31 | CN¥0.45 | CN¥24.11 | x |
| 2001-12-31 | CN¥0.45 | CN¥24.11 | x |
| 2002-12-31 | CN¥0.49 | CN¥24.11 | x |
| 2003-12-31 | CN¥0.55 | CN¥24.11 | x |
| 2004-12-31 | CN¥0.75 | CN¥24.11 | x |
| 2005-12-31 | CN¥0.84 | CN¥24.11 | x |
| 2006-12-31 | CN¥0.89 | CN¥24.11 | x |
| 2007-12-31 | CN¥1.16 | CN¥24.11 | x |
| 2008-12-31 | CN¥2.18 | CN¥24.11 | x |
| 2009-12-31 | CN¥2.08 | CN¥24.11 | x |
| 2010-12-31 | CN¥3.38 | CN¥24.11 | x |
| 2011-12-31 | CN¥3.41 | CN¥24.11 | x |
| 2012-12-31 | CN¥3.62 | CN¥24.11 | x |
| 2013-12-31 | CN¥4.11 | CN¥24.11 | x |
| 2014-12-31 | CN¥4.61 | CN¥24.11 | x |
| 2015-12-31 | CN¥4.78 | CN¥24.11 | x |
| 2016-12-31 | CN¥5.54 | CN¥24.11 | x |
| 2017-12-31 | CN¥6.30 | CN¥24.11 | x |
| 2018-12-31 | CN¥6.02 | CN¥24.11 | x |
| 2019-12-31 | CN¥6.24 | CN¥24.11 | x |
| 2020-12-31 | CN¥6.86 | CN¥24.11 | x |
| 2021-12-31 | CN¥8.81 | CN¥24.11 | x |
| 2022-12-31 | CN¥11.51 | CN¥24.11 | x |
| 2023-12-31 | CN¥13.96 | CN¥24.11 | x |
| 2024-12-31 | CN¥12.99 | CN¥24.11 | x |
| 2025-12-31 | CN¥14.72 | CN¥24.11 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tbea 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): 8.00%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.12%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 3.05x
- Recent ROE (8.00%) is below the historical average (12.74%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1994 | 25.45% | 17.86% | 0.53x | 2.67x | CN¥3.36 Million |
| 1995 | 23.82% | 13.59% | 0.58x | 3.01x | CN¥3.18 Million |
| 1996 | 20.43% | 15.01% | 0.72x | 1.88x | CN¥9.60 Million |
| 1997 | 14.82% | 17.18% | 0.47x | 1.84x | CN¥11.95 Million |
| 1998 | 10.74% | 10.22% | 0.51x | 2.07x | CN¥3.22 Million |
| 1999 | 17.49% | 14.32% | 0.50x | 2.44x | CN¥38.87 Million |
| 2000 | 6.94% | 5.70% | 0.55x | 2.22x | CN¥-25.13 Million |
| 2001 | 9.70% | 6.12% | 0.59x | 2.69x | CN¥-2.50 Million |
| 2002 | 9.71% | 4.92% | 0.65x | 3.03x | CN¥-2.61 Million |
| 2003 | 11.03% | 4.79% | 0.47x | 4.86x | CN¥10.40 Million |
| 2004 | 6.87% | 2.59% | 0.61x | 4.35x | CN¥-43.42 Million |
| 2005 | 8.10% | 2.80% | 0.66x | 4.38x | CN¥-29.38 Million |
| 2006 | 12.81% | 3.74% | 0.83x | 4.11x | CN¥50.44 Million |
| 2007 | 21.83% | 6.03% | 0.89x | 4.07x | CN¥291.90 Million |
| 2008 | 18.46% | 7.69% | 0.83x | 2.91x | CN¥441.19 Million |
| 2009 | 21.93% | 10.36% | 0.78x | 2.71x | CN¥831.51 Million |
| 2010 | 13.66% | 9.07% | 0.75x | 2.00x | CN¥431.58 Million |
| 2011 | 9.57% | 6.77% | 0.54x | 2.62x | CN¥-55.81 Million |
| 2012 | 7.18% | 4.82% | 0.48x | 3.08x | CN¥-385.43 Million |
| 2013 | 9.10% | 4.55% | 0.58x | 3.47x | CN¥-131.77 Million |
| 2014 | 8.43% | 4.57% | 0.61x | 3.03x | CN¥-306.14 Million |
| 2015 | 9.03% | 5.04% | 0.53x | 3.36x | CN¥-202.23 Million |
| 2016 | 9.44% | 5.46% | 0.53x | 3.23x | CN¥-128.93 Million |
| 2017 | 7.47% | 5.74% | 0.46x | 2.84x | CN¥-745.06 Million |
| 2018 | 6.26% | 5.16% | 0.43x | 2.83x | CN¥-1.22 Billion |
| 2019 | 5.79% | 5.46% | 0.36x | 2.93x | CN¥-1.47 Billion |
| 2020 | 6.51% | 5.49% | 0.41x | 2.91x | CN¥-1.31 Billion |
| 2021 | 16.42% | 10.52% | 0.55x | 2.86x | CN¥2.84 Billion |
| 2022 | 27.58% | 16.51% | 0.57x | 2.95x | CN¥10.14 Billion |
| 2023 | 17.11% | 10.91% | 0.51x | 3.07x | CN¥4.45 Billion |
| 2024 | 6.13% | 4.23% | 0.47x | 3.08x | CN¥-2.61 Billion |
| 2025 | 8.00% | 6.12% | 0.43x | 3.05x | CN¥-1.48 Billion |
Industry Comparison
This section compares Tbea Co Ltd's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $2,466,870,524
- Average return on equity (ROE) among peers: 7.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tbea Co Ltd (600089) | CN¥104.83 Billion | 25.45% | 1.30x | $17.83 Billion |
| XJ Electric Co Ltd (000400) | $11.10 Billion | 7.08% | 0.75x | $3.44 Billion |
| Guangdong Macro Co Ltd (000533) | $2.18 Billion | 1.75% | 1.00x | $1.14 Billion |
| Foshan Electrical and Lighting Co Ltd (000541) | $1.19 Billion | 13.28% | 0.23x | $957.37 Million |
| Dongfang Electronics Co Ltd (000682) | $1.32 Billion | 0.16% | 0.16x | $2.44 Billion |
| Shandong Xinneng Taishan Power Generation Co Ltd (000720) | $1.54 Billion | 2.10% | 1.51x | $810.87 Million |
| Huagong Tech Co Ltd (000988) | $2.63 Billion | 5.72% | 0.51x | $24.13 Billion |
| Hunan Valin Wire & Cable Co Ltd (001208) | $1.62 Billion | 6.74% | 1.87x | $1.49 Billion |
| Sieyuan Electric Co Ltd (002028) | $2.82 Billion | 5.45% | 0.34x | $19.98 Billion |
| Shanghai Welltech Automation Co Ltd (002058) | $186.07 Million | 7.07% | 0.22x | $520.79 Million |
| Gotion High tech Co Ltd (002074) | $87.88 Million | 21.99% | 1.03x | $8.04 Billion |
About Tbea Co Ltd
TBEA Co., Ltd., together with its subsidiaries, provides power transmission, renewable energy, new materials, and energy solutions in China and internationally. The company produces and sells transformers, switches, electric wires and cables, cable accessories, smart distribution grids, and charging facilities. It also provides power control systems, photovoltaic products, polycrystalline silicon… Read more