Sh Belling (600171) - Net Assets

Latest as of March 2026: CN¥4.55 Billion CNY ≈ $665.43 Million USD

Based on the latest financial reports, Sh Belling (600171) has net assets worth CN¥4.55 Billion CNY (≈ $665.43 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¥5.26 Billion ≈ $770.23 Million USD) and total liabilities (CN¥716.14 Million ≈ $104.79 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 Sh Belling 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¥4.55 Billion
% of Total Assets	86.39%
Annual Growth Rate	10.89%
5-Year Change	13.66%
10-Year Change	141.36%
Growth Volatility	69.68

Sh Belling - Net Assets Trend (1995–2025)

This chart illustrates how Sh Belling's net assets have evolved over time, based on quarterly financial data. See 600171 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Sh Belling (1995–2025)

The table below shows the annual net assets of Sh Belling from 1995 to 2025. For live valuation and market cap data, see 600171 company net worth.

Year	Net Assets	Change
2025-12-31	CN¥4.53 Billion ≈ $662.15 Million	+2.62%
2024-12-31	CN¥4.41 Billion ≈ $645.22 Million	+8.63%
2023-12-31	CN¥4.06 Billion ≈ $593.98 Million	-3.98%
2022-12-31	CN¥4.23 Billion ≈ $618.57 Million	+6.18%
2021-12-31	CN¥3.98 Billion ≈ $582.59 Million	+19.63%
2020-12-31	CN¥3.33 Billion ≈ $486.99 Million	+8.24%
2019-12-31	CN¥3.07 Billion ≈ $449.92 Million	+25.10%
2018-12-31	CN¥2.46 Billion ≈ $359.64 Million	+1.51%
2017-12-31	CN¥2.42 Billion ≈ $354.30 Million	+29.15%
2016-12-31	CN¥1.87 Billion ≈ $274.34 Million	+1.28%
2015-12-31	CN¥1.85 Billion ≈ $270.87 Million	+12.32%
2014-12-31	CN¥1.65 Billion ≈ $241.17 Million	-7.99%
2013-12-31	CN¥1.79 Billion ≈ $262.12 Million	+1.85%
2012-12-31	CN¥1.76 Billion ≈ $257.36 Million	+1.74%
2011-12-31	CN¥1.73 Billion ≈ $252.96 Million	+1.49%
2010-12-31	CN¥1.70 Billion ≈ $249.26 Million	+1.28%
2009-12-31	CN¥1.68 Billion ≈ $246.11 Million	-4.51%
2008-12-31	CN¥1.76 Billion ≈ $257.75 Million	-2.89%
2007-12-31	CN¥1.81 Billion ≈ $265.42 Million	+2.25%
2006-12-31	CN¥1.77 Billion ≈ $259.57 Million	+0.41%
2005-12-31	CN¥1.77 Billion ≈ $258.52 Million	+0.55%
2004-12-31	CN¥1.76 Billion ≈ $257.11 Million	+0.86%
2003-12-31	CN¥1.74 Billion ≈ $254.91 Million	+29.55%
2002-12-31	CN¥1.34 Billion ≈ $196.76 Million	+5.36%
2001-12-31	CN¥1.28 Billion ≈ $186.75 Million	+6.22%
2000-12-31	CN¥1.20 Billion ≈ $175.81 Million	+8.92%
1999-12-31	CN¥1.10 Billion ≈ $161.41 Million	+4.98%
1998-12-31	CN¥1.05 Billion ≈ $153.76 Million	+390.59%
1997-12-31	CN¥214.18 Million ≈ $31.34 Million	+0.00%
1996-12-31	CN¥214.17 Million ≈ $31.34 Million	+5.15%
1995-12-31	CN¥203.68 Million ≈ $29.81 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Sh Belling'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 247217005418.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥2.47 Billion	54.63%
Other Components	CN¥2.05 Billion	45.37%
Total Equity	CN¥4.53 Billion	100.00%

Sh Belling Competitors by Market Cap

The table below lists competitors of Sh Belling ranked by their market capitalization.

Company	Market Cap
Shinsung E&G Co. Ltd KO:011930	$2.92 Billion
Provident Financial Services Inc NYSE:PFS	$2.92 Billion
CorVel Corp NASDAQ:CRVL	$2.92 Billion
Inner Mongolia First Machinery Group Co Ltd SHG:600967	$2.92 Billion
Kesko Oyj HE:KESKOA	$2.91 Billion
Walvax BioTech SHE:300142	$2.91 Billion
Natura &Co Holding S.A. SA:NTCO3	$2.91 Billion
Shenzhen China Micro Semicon Co. Ltd. A SHG:688380	$2.91 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Sh Belling's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,409,292,428 to 4,525,002,438, a change of 115,710,010 (2.6%).
Net income of 236,226,971 contributed positively to equity growth.
Dividend payments of 120,516,962 reduced retained earnings.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥236.23 Million	+5.22%
Dividends Paid	CN¥120.52 Million	-2.66%
Other Changes	CN¥0.68	+0.0%
Total Change	CN¥-	2.62%

Book Value vs Market Value Analysis

This analysis compares Sh Belling'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: 4.40x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 98.30x to 4.40x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1995-12-31	CN¥0.29	CN¥28.09	x
1996-12-31	CN¥0.30	CN¥28.09	x
1997-12-31	CN¥0.30	CN¥28.09	x
1998-12-31	CN¥1.47	CN¥28.09	x
1999-12-31	CN¥1.55	CN¥28.09	x
2000-12-31	CN¥1.69	CN¥28.09	x
2001-12-31	CN¥1.79	CN¥28.09	x
2002-12-31	CN¥1.89	CN¥28.09	x
2003-12-31	CN¥2.44	CN¥28.09	x
2004-12-31	CN¥2.46	CN¥28.09	x
2005-12-31	CN¥2.47	CN¥28.09	x
2006-12-31	CN¥2.61	CN¥28.09	x
2007-12-31	CN¥2.64	CN¥28.09	x
2008-12-31	CN¥2.63	CN¥28.09	x
2009-12-31	CN¥2.45	CN¥28.09	x
2010-12-31	CN¥2.53	CN¥28.09	x
2011-12-31	CN¥2.52	CN¥28.09	x
2012-12-31	CN¥2.60	CN¥28.09	x
2013-12-31	CN¥2.62	CN¥28.09	x
2014-12-31	CN¥2.52	CN¥28.09	x
2015-12-31	CN¥2.86	CN¥28.09	x
2016-12-31	CN¥2.93	CN¥28.09	x
2017-12-31	CN¥3.58	CN¥28.09	x
2018-12-31	CN¥3.52	CN¥28.09	x
2019-12-31	CN¥4.35	CN¥28.09	x
2020-12-31	CN¥4.71	CN¥28.09	x
2021-12-31	CN¥5.56	CN¥28.09	x
2022-12-31	CN¥6.04	CN¥28.09	x
2023-12-31	CN¥6.07	CN¥28.09	x
2024-12-31	CN¥6.22	CN¥28.09	x
2025-12-31	CN¥6.38	CN¥28.09	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Sh Belling 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): 5.22%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 7.44%
• Asset Turnover: 0.60x
• Equity Multiplier: 1.18x
Recent ROE (5.22%) is below the historical average (10.15%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1995	61.42%	29.36%	0.86x	2.43x	CN¥104.73 Million
1996	50.98%	28.98%	0.69x	2.56x	CN¥87.76 Million
1997	51.14%	29.12%	0.64x	2.76x	CN¥88.11 Million
1998	11.59%	31.76%	0.30x	1.23x	CN¥16.66 Million
1999	12.82%	34.77%	0.32x	1.15x	CN¥31.08 Million
2000	14.33%	21.73%	0.54x	1.22x	CN¥52.02 Million
2001	11.68%	19.02%	0.51x	1.21x	CN¥21.42 Million
2002	7.82%	13.77%	0.48x	1.19x	CN¥-29.37 Million
2003	3.54%	8.15%	0.37x	1.18x	CN¥-112.50 Million
2004	2.51%	5.97%	0.35x	1.19x	CN¥-131.52 Million
2005	1.88%	5.20%	0.31x	1.16x	CN¥-142.88 Million
2006	1.78%	7.46%	0.21x	1.15x	CN¥-145.10 Million
2007	1.29%	4.98%	0.23x	1.15x	CN¥-156.27 Million
2008	0.38%	1.31%	0.25x	1.15x	CN¥-169.15 Million
2009	-11.08%	-36.14%	0.28x	1.10x	CN¥-352.52 Million
2010	0.99%	2.84%	0.30x	1.14x	CN¥-152.42 Million
2011	1.86%	5.30%	0.30x	1.17x	CN¥-139.34 Million
2012	1.92%	4.93%	0.33x	1.19x	CN¥-140.14 Million
2013	2.29%	6.90%	0.28x	1.19x	CN¥-136.18 Million
2014	2.38%	8.27%	0.25x	1.14x	CN¥-124.00 Million
2015	2.80%	10.45%	0.24x	1.13x	CN¥-131.60 Million
2016	2.05%	7.44%	0.24x	1.14x	CN¥-146.99 Million
2017	7.26%	30.91%	0.20x	1.15x	CN¥-65.69 Million
2018	5.97%	18.50%	0.29x	1.11x	CN¥-97.78 Million
2019	8.25%	22.87%	0.32x	1.11x	CN¥-53.14 Million
2020	16.04%	39.63%	0.34x	1.18x	CN¥198.82 Million
2021	18.52%	36.03%	0.43x	1.18x	CN¥335.57 Million
2022	9.44%	19.52%	0.41x	1.18x	CN¥-23.68 Million
2023	-1.48%	-2.82%	0.44x	1.20x	CN¥-466.13 Million
2024	8.97%	14.03%	0.53x	1.20x	CN¥-45.40 Million
2025	5.22%	7.44%	0.60x	1.18x	CN¥-216.27 Million

Industry Comparison

This section compares Sh Belling's net assets metrics with peer companies in the Semiconductors industry.

Industry Context

Industry: Semiconductors
Average net assets among peers: $758,137,872
Average return on equity (ROE) among peers: 7.55%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Sh Belling (600171)	CN¥4.55 Billion	61.42%	0.16x	$2.91 Billion
UniTTEC Co Ltd (000925)	$3.09 Billion	1.86%	1.43x	$807.63 Million
Unigroup Guoxin Microelectronics Co Ltd (002049)	$87.45 Million	17.73%	0.92x	$9.99 Billion
Sinosteel Anhui Tianyuan Technology Co Ltd (002057)	$238.46 Million	1.47%	0.52x	$1.34 Billion
Suzhou Good-Ark Electronics Co Ltd (002079)	$150.59 Million	29.58%	0.75x	$1.83 Billion
Ningbo Kangqiang Electronics Co Ltd (002119)	$552.98 Million	1.15%	0.72x	$1.90 Billion
Tianjin Printronics Circuit Corp (002134)	$609.67 Million	-14.49%	0.33x	$1.09 Billion
Tatwah Smartech Co Ltd (002512)	$318.94 Million	-63.28%	6.24x	$640.43 Million
Chutian Dragon Co Ltd (003040)	$916.47 Million	6.34%	0.58x	$791.53 Million
Jiangsu Huasheng Tianlong Photo (300029)	$63.06 Million	81.02%	3.66x	$5.87 Million
Nations Technologies Inc (300077)	$1.55 Billion	14.11%	0.72x	$1.99 Billion

About Sh Belling

SHG:600171 China Semiconductors

Market Cap

$2.91 Billion

CN¥19.91 Billion CNY

Market Cap Rank

#5105 Global

#952 in China

Share Price

CN¥28.09

Change (1 day)

+0.43%

52-Week Range

CN¥26.03 - CN¥38.94

All Time High

CN¥51.33