Lushang Property Co Ltd (600223) - Net Assets

Latest as of September 2025: CN¥4.89 Billion CNY ≈ $715.41 Million USD

Based on the latest financial reports, Lushang Property Co Ltd (600223) has net assets worth CN¥4.89 Billion CNY (≈ $715.41 Million 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¥5.83 Billion ≈ $853.29 Million USD) and total liabilities (CN¥942.21 Million ≈ $137.88 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 600223 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥4.89 Billion
% of Total Assets	83.84%
Annual Growth Rate	9.94%
5-Year Change	-23.88%
10-Year Change	94.08%
Growth Volatility	35.63

Lushang Property Co Ltd - Net Assets Trend (1996–2025)

This chart illustrates how Lushang Property Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Lushang Property Co Ltd for the complete picture of this company's asset base.

Annual Net Assets for Lushang Property Co Ltd (1996–2025)

The table below shows the annual net assets of Lushang Property Co Ltd from 1996 to 2025. For live valuation and market cap data, see Lushang Property Co Ltd (600223) total market value.

Year	Net Assets	Change
2025-12-31	CN¥4.95 Billion ≈ $724.01 Million	+3.33%
2024-12-31	CN¥4.79 Billion ≈ $700.69 Million	+2.31%
2023-12-31	CN¥4.68 Billion ≈ $684.85 Million	-15.93%
2022-12-31	CN¥5.57 Billion ≈ $814.61 Million	-14.35%
2021-12-31	CN¥6.50 Billion ≈ $951.12 Million	-0.27%
2020-12-31	CN¥6.52 Billion ≈ $953.70 Million	+38.80%
2019-12-31	CN¥4.70 Billion ≈ $687.12 Million	+62.54%
2018-12-31	CN¥2.89 Billion ≈ $422.73 Million	+10.23%
2017-12-31	CN¥2.62 Billion ≈ $383.48 Million	+2.80%
2016-12-31	CN¥2.55 Billion ≈ $373.05 Million	+5.75%
2015-12-31	CN¥2.41 Billion ≈ $352.77 Million	+7.04%
2014-12-31	CN¥2.25 Billion ≈ $329.58 Million	+11.26%
2013-12-31	CN¥2.02 Billion ≈ $296.22 Million	+16.90%
2012-12-31	CN¥1.73 Billion ≈ $253.39 Million	+23.40%
2011-12-31	CN¥1.40 Billion ≈ $205.34 Million	+21.96%
2010-12-31	CN¥1.15 Billion ≈ $168.36 Million	+66.03%
2009-12-31	CN¥692.95 Million ≈ $101.40 Million	+51.19%
2008-12-31	CN¥458.34 Million ≈ $67.07 Million	-32.79%
2007-12-31	CN¥681.96 Million ≈ $99.79 Million	-24.44%
2006-12-31	CN¥902.56 Million ≈ $132.07 Million	-47.64%
2005-12-31	CN¥1.72 Billion ≈ $252.25 Million	-7.26%
2004-12-31	CN¥1.86 Billion ≈ $272.00 Million	-2.20%
2003-12-31	CN¥1.90 Billion ≈ $278.12 Million	+7.85%
2002-12-31	CN¥1.76 Billion ≈ $257.89 Million	-2.52%
2001-12-31	CN¥1.81 Billion ≈ $264.56 Million	+9.04%
2000-12-31	CN¥1.66 Billion ≈ $242.63 Million	+3.44%
1999-12-31	CN¥1.60 Billion ≈ $234.57 Million	+117.18%
1998-12-31	CN¥738.11 Million ≈ $108.01 Million	+103.06%
1997-12-31	CN¥363.49 Million ≈ $53.19 Million	+14.64%
1996-12-31	CN¥317.08 Million ≈ $46.40 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Lushang Property 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 9615.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥2.32 Billion	54.77%
Other Components	CN¥1.91 Billion	45.23%
Total Equity	CN¥4.23 Billion	100.00%

Lushang Property Co Ltd Competitors by Market Cap

The table below lists competitors of Lushang Property Co Ltd ranked by their market capitalization.

Company	Market Cap
Heilongjiang ZBD Pharmaceutical Co Ltd SHG:603567	$974.90 Million
Fujian Apex Software Co Ltd SHG:603383	$975.53 Million
Longyan Zhuoyue New Energy Co Ltd SHG:688196	$975.64 Million
Beijing SL Pharmaceutical Co Ltd SHE:002038	$975.67 Million
Equity Bancshares, Inc. NYSE:EQBK	$974.10 Million
Appian Corp NASDAQ:APPN	$974.06 Million
Shenzhen Jiang and Associates Creative Design Co Ltd SHE:300668	$973.96 Million
Itcen Co. Ltd KQ:124500	$973.40 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 4,104,899,060 to 4,232,820,089, a change of 127,921,029 (3.1%).
Net income of 187,751,525 contributed positively to equity growth.
Other comprehensive income decreased equity by 252,557,571.
Other factors increased equity by 192,727,075.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥187.75 Million	+4.44%
Other Comprehensive Income	CN¥-252.56 Million	-5.97%
Other Changes	CN¥192.73 Million	+4.55%
Total Change	CN¥-	3.12%

Book Value vs Market Value Analysis

This analysis compares Lushang Property 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: 1.57x
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 11.09x to 1.57x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1996-12-31	CN¥0.59	CN¥6.55	x
1997-12-31	CN¥0.68	CN¥6.55	x
1998-12-31	CN¥1.37	CN¥6.55	x
1999-12-31	CN¥2.99	CN¥6.55	x
2000-12-31	CN¥2.96	CN¥6.55	x
2001-12-31	CN¥3.22	CN¥6.55	x
2002-12-31	CN¥2.91	CN¥6.55	x
2003-12-31	CN¥3.10	CN¥6.55	x
2004-12-31	CN¥2.99	CN¥6.55	x
2005-12-31	CN¥2.76	CN¥6.55	x
2006-12-31	CN¥1.51	CN¥6.55	x
2007-12-31	CN¥0.54	CN¥6.55	x
2008-12-31	CN¥0.38	CN¥6.55	x
2009-12-31	CN¥0.64	CN¥6.55	x
2010-12-31	CN¥1.08	CN¥6.55	x
2011-12-31	CN¥1.29	CN¥6.55	x
2012-12-31	CN¥1.58	CN¥6.55	x
2013-12-31	CN¥1.80	CN¥6.55	x
2014-12-31	CN¥2.06	CN¥6.55	x
2015-12-31	CN¥2.09	CN¥6.55	x
2016-12-31	CN¥2.17	CN¥6.55	x
2017-12-31	CN¥2.37	CN¥6.55	x
2018-12-31	CN¥2.41	CN¥6.55	x
2019-12-31	CN¥2.74	CN¥6.55	x
2020-12-31	CN¥4.02	CN¥6.55	x
2021-12-31	CN¥4.57	CN¥6.55	x
2022-12-31	CN¥3.27	CN¥6.55	x
2023-12-31	CN¥3.97	CN¥6.55	x
2024-12-31	CN¥4.05	CN¥6.55	x
2025-12-31	CN¥4.16	CN¥6.55	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Lushang Property 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): 4.44%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 5.14%
• Asset Turnover: 0.62x
• Equity Multiplier: 1.38x
Recent ROE (4.44%) is below the historical average (4.47%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1996	8.38%	19.09%	0.33x	1.34x	CN¥-5.14 Million
1997	12.77%	21.67%	0.46x	1.28x	CN¥10.06 Million
1998	8.16%	21.71%	0.31x	1.20x	CN¥-13.56 Million
1999	8.48%	23.88%	0.32x	1.11x	CN¥-24.38 Million
2000	9.15%	19.07%	0.35x	1.37x	CN¥-13.53 Million
2001	8.09%	13.93%	0.40x	1.47x	CN¥-32.94 Million
2002	6.30%	8.68%	0.39x	1.86x	CN¥-57.78 Million
2003	6.08%	4.77%	0.53x	2.40x	CN¥-65.22 Million
2004	1.34%	0.88%	0.58x	2.62x	CN¥-138.82 Million
2005	-8.17%	-5.58%	0.47x	3.10x	CN¥-269.31 Million
2006	-95.51%	-62.39%	0.29x	5.22x	CN¥-854.27 Million
2007	4.07%	1.75%	0.33x	7.04x	CN¥-33.11 Million
2008	-79.38%	-11.80%	0.54x	12.57x	CN¥-341.82 Million
2009	68.65%	17.57%	0.35x	11.31x	CN¥375.36 Million
2010	40.79%	14.61%	0.27x	10.30x	CN¥332.88 Million
2011	17.83%	10.72%	0.12x	13.40x	CN¥103.06 Million
2012	15.79%	6.71%	0.17x	13.80x	CN¥90.38 Million
2013	14.41%	4.97%	0.19x	14.95x	CN¥80.51 Million
2014	10.20%	3.63%	0.18x	15.23x	CN¥4.05 Million
2015	5.27%	1.92%	0.17x	16.27x	CN¥-101.13 Million
2016	4.15%	1.21%	0.18x	19.10x	CN¥-130.25 Million
2017	5.49%	1.55%	0.19x	18.61x	CN¥-105.09 Million
2018	6.65%	1.84%	0.18x	20.06x	CN¥-81.66 Million
2019	12.56%	3.35%	0.18x	20.43x	CN¥70.29 Million
2020	15.65%	4.69%	0.22x	15.07x	CN¥230.66 Million
2021	7.66%	2.93%	0.20x	12.99x	CN¥-110.81 Million
2022	1.22%	0.35%	0.22x	15.73x	CN¥-326.22 Million
2023	7.56%	6.63%	0.59x	1.95x	CN¥-98.09 Million
2024	5.93%	6.11%	0.66x	1.46x	CN¥-166.96 Million
2025	4.44%	5.14%	0.62x	1.38x	CN¥-235.53 Million

Industry Comparison

This section compares Lushang Property 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: $1,245,010,225
Average return on equity (ROE) among peers: 10.13%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Lushang Property Co Ltd (600223)	CN¥4.89 Billion	8.38%	0.19x	$974.35 Million
China Vanke Co Ltd Class A (000002)	$1.36 Billion	10.82%	1.37x	$5.56 Billion
Shenzhen Zhenye Group Co Ltd (000006)	$4.19 Billion	16.63%	1.38x	$1.92 Billion
Shenzhen Properties & Resources Development Group Ltd (000011)	$1.80 Billion	16.68%	1.15x	$623.95 Million
Shahe Industry Co Ltd (000014)	$633.37 Million	4.41%	2.19x	$467.53 Million
Grandjoy Holdings Group Co Ltd (000031)	$356.78 Million	19.15%	1.42x	$1.92 Billion
China Union Holdings Ltd (000036)	$1.42 Billion	-28.30%	1.16x	$1.15 Billion
Shenzhen Centralcon Investment Holding Co Ltd (000042)	$1.39 Billion	8.07%	1.49x	$936.86 Million
Shenzhen Wongtee International Enterprise Co Ltd (000056)	$227.60 Million	17.95%	1.46x	$239.16 Million
Financial Street Holdings Co Ltd (000402)	$897.02 Million	18.63%	2.21x	$1.39 Billion
Chongqing Yukaifa Co Ltd (000514)	$174.08 Million	17.29%	1.07x	$608.71 Million

About Lushang Property Co Ltd

SHG:600223 China Real Estate - Development

Market Cap

$974.35 Million

CN¥6.66 Billion CNY

Market Cap Rank

#9231 Global

#2486 in China

Share Price

CN¥6.55

Change (1 day)

-0.46%

52-Week Range

CN¥6.43 - CN¥9.30

All Time High

CN¥17.98