Kexin Development Co Ltd Shanxi (600234) - Net Assets
Based on the latest financial reports, Kexin Development Co Ltd Shanxi (600234) has net assets worth CN¥478.37 Million CNY (≈ $70.00 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¥1.11 Billion ≈ $162.45 Million USD) and total liabilities (CN¥631.76 Million ≈ $92.45 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 600234 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥478.37 Million |
| % of Total Assets | 43.09% |
| Annual Growth Rate | 4.52% |
| 5-Year Change | -26.32% |
| 10-Year Change | 300.65% |
| Growth Volatility | 116.39 |
Kexin Development Co Ltd Shanxi - Net Assets Trend (1997–2025)
This chart illustrates how Kexin Development Co Ltd Shanxi's net assets have evolved over time, based on quarterly financial data. See Kexin Development Co Ltd Shanxi (600234) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Kexin Development Co Ltd Shanxi (1997–2025)
The table below shows the annual net assets of Kexin Development Co Ltd Shanxi from 1997 to 2025. For live valuation and market cap data, see 600234 market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥467.93 Million ≈ $68.47 Million |
-4.14% |
| 2024-12-31 | CN¥488.13 Million ≈ $71.43 Million |
+9.34% |
| 2023-12-31 | CN¥446.45 Million ≈ $65.33 Million |
-27.66% |
| 2022-12-31 | CN¥617.18 Million ≈ $90.31 Million |
-2.82% |
| 2021-12-31 | CN¥635.07 Million ≈ $92.93 Million |
+323.31% |
| 2020-12-31 | CN¥150.02 Million ≈ $21.95 Million |
+61.08% |
| 2019-12-31 | CN¥93.13 Million ≈ $13.63 Million |
+27.95% |
| 2018-12-31 | CN¥72.79 Million ≈ $10.65 Million |
-17.90% |
| 2017-12-31 | CN¥88.66 Million ≈ $12.97 Million |
-24.09% |
| 2016-12-31 | CN¥116.79 Million ≈ $17.09 Million |
+70.87% |
| 2015-12-31 | CN¥68.35 Million ≈ $10.00 Million |
-19.80% |
| 2014-12-31 | CN¥85.22 Million ≈ $12.47 Million |
+11.52% |
| 2013-12-31 | CN¥76.42 Million ≈ $11.18 Million |
+189.32% |
| 2012-12-31 | CN¥-85.56 Million ≈ $-12.52 Million |
-43.77% |
| 2011-12-31 | CN¥-59.51 Million ≈ $-8.71 Million |
+66.21% |
| 2010-12-31 | CN¥-176.10 Million ≈ $-25.77 Million |
-2.23% |
| 2009-12-31 | CN¥-172.25 Million ≈ $-25.21 Million |
+57.83% |
| 2008-12-31 | CN¥-408.50 Million ≈ $-59.78 Million |
-8.53% |
| 2007-12-31 | CN¥-376.40 Million ≈ $-55.08 Million |
+46.12% |
| 2006-12-31 | CN¥-698.60 Million ≈ $-102.23 Million |
+1.21% |
| 2005-12-31 | CN¥-707.19 Million ≈ $-103.48 Million |
-84.66% |
| 2004-12-31 | CN¥-382.96 Million ≈ $-56.04 Million |
-340.39% |
| 2003-12-31 | CN¥159.31 Million ≈ $23.31 Million |
+100.60% |
| 2002-12-31 | CN¥79.42 Million ≈ $11.62 Million |
-63.94% |
| 2001-12-31 | CN¥220.22 Million ≈ $32.22 Million |
-28.29% |
| 2000-12-31 | CN¥307.11 Million ≈ $44.94 Million |
+109.77% |
| 1999-12-31 | CN¥146.40 Million ≈ $21.42 Million |
+8.04% |
| 1998-12-31 | CN¥135.50 Million ≈ $19.83 Million |
-0.11% |
| 1997-12-31 | CN¥135.65 Million ≈ $19.85 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Kexin Development Co Ltd Shanxi'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 decreased by 56242056317.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | CN¥1.02 Billion | 225.54% |
| Total Equity | CN¥451.74 Million | 100.00% |
Kexin Development Co Ltd Shanxi Competitors by Market Cap
The table below lists competitors of Kexin Development Co Ltd Shanxi ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanxi Sanwei Group Co Ltd
SHE:000755
|
$1.00 Billion |
|
Dogus Otomotiv Servis ve Ticaret AS
IS:DOAS
|
$1.01 Billion |
|
Jiangsu Tongxingbao Intelligent Transportation Technology Co. Ltd. A
SHE:301339
|
$1.01 Billion |
|
Zhenjiang Dongfang Electric Heat
SHE:300217
|
$1.01 Billion |
|
Ventyx Biosciences Inc
NASDAQ:VTYX
|
$1.00 Billion |
|
China Reform Health Management and Services Group Co Ltd
SHE:000503
|
$1.00 Billion |
|
Yuanta Futures Co Ltd
TWO:6023
|
$1.00 Billion |
|
Green Cross Corp
KO:006280
|
$1.00 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kexin Development Co Ltd Shanxi's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 468,915,809 to 451,737,499, a change of -17,178,310 (-3.7%).
- Net loss of 17,178,311 reduced equity.
- Dividend payments of 108,197 reduced retained earnings.
- Other comprehensive income decreased equity by 276,507,143.
- Other factors increased equity by 276,615,341.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-17.18 Million | -3.8% |
| Dividends Paid | CN¥108.20K | -0.02% |
| Other Comprehensive Income | CN¥-276.51 Million | -61.21% |
| Other Changes | CN¥276.62 Million | +61.23% |
| Total Change | CN¥- | -3.66% |
Book Value vs Market Value Analysis
This analysis compares Kexin Development Co Ltd Shanxi'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: 15.20x
- 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 27.79x to 15.20x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1997-12-31 | CN¥0.94 | CN¥26.15 | x |
| 1998-12-31 | CN¥0.94 | CN¥26.15 | x |
| 1999-12-31 | CN¥1.02 | CN¥26.15 | x |
| 2000-12-31 | CN¥2.13 | CN¥26.15 | x |
| 2001-12-31 | CN¥1.53 | CN¥26.15 | x |
| 2002-12-31 | CN¥0.55 | CN¥26.15 | x |
| 2003-12-31 | CN¥1.05 | CN¥26.15 | x |
| 2004-12-31 | CN¥-2.43 | CN¥26.15 | x |
| 2005-12-31 | CN¥-4.62 | CN¥26.15 | x |
| 2006-12-31 | CN¥-5.02 | CN¥26.15 | x |
| 2007-12-31 | CN¥-1.87 | CN¥26.15 | x |
| 2008-12-31 | CN¥-1.95 | CN¥26.15 | x |
| 2009-12-31 | CN¥-0.86 | CN¥26.15 | x |
| 2010-12-31 | CN¥-0.83 | CN¥26.15 | x |
| 2011-12-31 | CN¥-0.54 | CN¥26.15 | x |
| 2012-12-31 | CN¥-0.63 | CN¥26.15 | x |
| 2013-12-31 | CN¥0.22 | CN¥26.15 | x |
| 2014-12-31 | CN¥0.29 | CN¥26.15 | x |
| 2015-12-31 | CN¥0.23 | CN¥26.15 | x |
| 2016-12-31 | CN¥0.47 | CN¥26.15 | x |
| 2017-12-31 | CN¥0.36 | CN¥26.15 | x |
| 2018-12-31 | CN¥0.26 | CN¥26.15 | x |
| 2019-12-31 | CN¥0.35 | CN¥26.15 | x |
| 2020-12-31 | CN¥0.65 | CN¥26.15 | x |
| 2021-12-31 | CN¥2.72 | CN¥26.15 | x |
| 2022-12-31 | CN¥2.28 | CN¥26.15 | x |
| 2023-12-31 | CN¥1.63 | CN¥26.15 | x |
| 2024-12-31 | CN¥1.76 | CN¥26.15 | x |
| 2025-12-31 | CN¥1.72 | CN¥26.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kexin Development Co Ltd Shanxi 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): -3.80%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -4.47%
- • Asset Turnover: 0.48x
- • Equity Multiplier: 1.78x
- Recent ROE (-3.80%) is above the historical average (-5.31%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 10.71% | 2.80% | 1.68x | 2.28x | CN¥965.39K |
| 1998 | 8.38% | 2.98% | 1.18x | 2.38x | CN¥-2.20 Million |
| 1999 | 12.68% | 4.14% | 1.34x | 2.29x | CN¥3.92 Million |
| 2000 | 6.35% | 4.61% | 0.94x | 1.46x | CN¥-11.21 Million |
| 2001 | -31.05% | -48.97% | 0.21x | 3.08x | CN¥-90.41 Million |
| 2002 | -177.29% | -100.68% | 0.24x | 7.35x | CN¥-148.74 Million |
| 2003 | 13.74% | 3.08% | 0.85x | 5.24x | CN¥5.66 Million |
| 2004 | 0.00% | -29.81% | 1.53x | 0.00x | CN¥-174.46 Million |
| 2005 | 0.00% | -588.53% | 0.46x | 0.00x | CN¥-224.82 Million |
| 2006 | 0.00% | 13.05% | 0.52x | 0.00x | CN¥76.01 Million |
| 2007 | 0.00% | -35.24% | 1.32x | 0.00x | CN¥-5.45 Million |
| 2008 | 0.00% | -35.80% | 0.92x | 0.00x | CN¥10.58 Million |
| 2009 | 0.00% | 57.90% | 0.23x | 0.00x | CN¥61.72 Million |
| 2010 | 0.00% | -16.43% | 0.11x | 0.00x | CN¥11.22 Million |
| 2011 | 0.00% | 99.79% | 0.16x | 0.00x | CN¥79.04 Million |
| 2012 | 0.00% | -194.39% | 0.06x | 0.00x | CN¥-35.65 Million |
| 2013 | 76.17% | 321.35% | 0.02x | 10.03x | CN¥29.16 Million |
| 2014 | -17.34% | -103.17% | 0.02x | 7.46x | CN¥-17.21 Million |
| 2015 | -34.41% | -147.08% | 0.02x | 10.29x | CN¥-20.79 Million |
| 2016 | 14.77% | 69.18% | 0.04x | 5.16x | CN¥4.61 Million |
| 2017 | -35.88% | -175.96% | 0.03x | 6.71x | CN¥-32.59 Million |
| 2018 | -31.37% | -11.58% | 0.29x | 9.34x | CN¥-22.36 Million |
| 2019 | 22.98% | 7.41% | 0.38x | 8.23x | CN¥9.54 Million |
| 2020 | 43.38% | 5.05% | 1.06x | 8.11x | CN¥43.33 Million |
| 2021 | 2.48% | 2.58% | 0.57x | 1.69x | CN¥-46.46 Million |
| 2022 | -3.25% | -16.32% | 0.14x | 1.41x | CN¥-79.46 Million |
| 2023 | -39.78% | -243.43% | 0.11x | 1.55x | CN¥-213.54 Million |
| 2024 | 8.53% | 10.67% | 0.43x | 1.86x | CN¥-6.91 Million |
| 2025 | -3.80% | -4.47% | 0.48x | 1.78x | CN¥-62.35 Million |
Industry Comparison
This section compares Kexin Development Co Ltd Shanxi's net assets metrics with peer companies in the Advertising Agencies industry.
Industry Context
- Industry: Advertising Agencies
- Average net assets among peers: $4,657,436,026
- Average return on equity (ROE) among peers: 11.05%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kexin Development Co Ltd Shanxi (600234) | CN¥478.37 Million | 10.71% | 1.32x | $1.00 Billion |
| Genimous Technology Co Ltd (000676) | $6.66 Billion | 9.31% | 0.39x | $1.03 Billion |
| Hunan TV & Broadcast Intermediary Co Ltd (000917) | $11.39 Billion | 1.21% | 0.49x | $1.46 Billion |
| Focus Media Information Technology Co Ltd (002027) | $10.56 Billion | 56.87% | 0.47x | $11.31 Billion |
| NanJi ECommerce Co Ltd (002127) | $1.22 Billion | 5.82% | 1.80x | $987.87 Million |
| Leo Group Co Ltd (002131) | $7.46 Billion | 7.54% | 0.51x | $5.33 Billion |
| Foshan Saturday Shoes Co Ltd (002291) | $1.65 Billion | 2.06% | 0.74x | $727.98 Million |
| Guangdong Advertising Co Ltd (002400) | $4.91 Billion | 4.33% | 0.89x | $1.82 Billion |
| Simei Media Co Ltd (002712) | $1.52 Billion | 9.32% | 0.71x | $375.13 Million |
| Beijing Yuanlong Yato Culture Dissemination Co Ltd (002878) | $148.87 Million | 8.97% | 1.28x | $513.72 Million |
| Beijing Quanshi World Online Net (002995) | $1.06 Billion | 5.09% | 0.56x | $565.56 Million |
About Kexin Development Co Ltd Shanxi
Kexin Development Co.,Ltd,Shanxi engages in construction engineering, office leasing, and internet advertising and marketing businesses. The company is involved in the provision of architectural decoration, design, and installation projects, including hotels, real estate marketing centers, office buildings, and residential model apartments. It also provides property management services; and digit… Read more