Minfeng Special Paper Co Ltd (600235) - Net Assets
Based on the latest financial reports, Minfeng Special Paper Co Ltd (600235) has net assets worth CN¥1.51 Billion CNY (≈ $221.09 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥3.03 Billion ≈ $444.11 Million USD) and total liabilities (CN¥1.52 Billion ≈ $223.02 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 asset resilience ratio of Minfeng Special Paper Co Ltd to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.51 Billion |
| % of Total Assets | 49.78% |
| Annual Growth Rate | 7.9% |
| 5-Year Change | 8.12% |
| 10-Year Change | 18.23% |
| Growth Volatility | 34.78 |
Minfeng Special Paper Co Ltd - Net Assets Trend (1998–2025)
This chart illustrates how Minfeng Special Paper Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 600235 total asset value for the complete picture of this company's asset base.
Annual Net Assets for Minfeng Special Paper Co Ltd (1998–2025)
The table below shows the annual net assets of Minfeng Special Paper Co Ltd from 1998 to 2025. For live valuation and market cap data, see 600235 market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥1.51 Billion ≈ $221.09 Million |
+0.69% |
| 2024-12-31 | CN¥1.50 Billion ≈ $219.58 Million |
+3.51% |
| 2023-12-31 | CN¥1.45 Billion ≈ $212.13 Million |
+3.07% |
| 2022-12-31 | CN¥1.41 Billion ≈ $205.81 Million |
+0.65% |
| 2021-12-31 | CN¥1.40 Billion ≈ $204.48 Million |
+3.94% |
| 2020-12-31 | CN¥1.34 Billion ≈ $196.72 Million |
+3.59% |
| 2019-12-31 | CN¥1.30 Billion ≈ $189.90 Million |
+0.85% |
| 2018-12-31 | CN¥1.29 Billion ≈ $188.31 Million |
-0.69% |
| 2017-12-31 | CN¥1.30 Billion ≈ $189.62 Million |
+1.40% |
| 2016-12-31 | CN¥1.28 Billion ≈ $187.00 Million |
+0.81% |
| 2015-12-31 | CN¥1.27 Billion ≈ $185.50 Million |
-11.41% |
| 2014-12-31 | CN¥1.43 Billion ≈ $209.39 Million |
+0.06% |
| 2013-12-31 | CN¥1.43 Billion ≈ $209.26 Million |
+46.07% |
| 2012-12-31 | CN¥979.00 Million ≈ $143.26 Million |
-5.41% |
| 2011-12-31 | CN¥1.03 Billion ≈ $151.45 Million |
-0.35% |
| 2010-12-31 | CN¥1.04 Billion ≈ $151.98 Million |
+6.92% |
| 2009-12-31 | CN¥971.37 Million ≈ $142.14 Million |
+5.15% |
| 2008-12-31 | CN¥923.77 Million ≈ $135.18 Million |
-0.44% |
| 2007-12-31 | CN¥927.85 Million ≈ $135.77 Million |
+2.77% |
| 2006-12-31 | CN¥902.85 Million ≈ $132.12 Million |
-2.24% |
| 2005-12-31 | CN¥923.54 Million ≈ $135.14 Million |
-1.02% |
| 2004-12-31 | CN¥933.05 Million ≈ $136.54 Million |
+0.79% |
| 2003-12-31 | CN¥925.77 Million ≈ $135.47 Million |
+59.45% |
| 2002-12-31 | CN¥580.61 Million ≈ $84.96 Million |
+3.83% |
| 2001-12-31 | CN¥559.17 Million ≈ $81.82 Million |
+1.48% |
| 2000-12-31 | CN¥551.02 Million ≈ $80.63 Million |
+173.28% |
| 1999-12-31 | CN¥201.63 Million ≈ $29.50 Million |
+4.05% |
| 1998-12-31 | CN¥193.77 Million ≈ $28.36 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Minfeng Special Paper 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 271666.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥231.54 Million | 15.32% |
| Other Components | CN¥1.28 Billion | 84.68% |
| Total Equity | CN¥1.51 Billion | 100.00% |
Minfeng Special Paper Co Ltd Competitors by Market Cap
The table below lists competitors of Minfeng Special Paper Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Suzhou Institute of Building Science Group Co Ltd
SHG:603183
|
$354.29 Million |
|
Baader Bank Aktiengesellschaft
F:BWB
|
$354.30 Million |
|
Ld Intelligent Technology Co Ltd
SHE:300883
|
$354.41 Million |
|
Beijing LabTech Instruments Co Ltd
SHG:688056
|
$354.45 Million |
|
Shenzhen Institute of Building Research Co Ltd Class A
SHE:300675
|
$354.12 Million |
|
Avidia Bancorp, Inc.
NYSE:AVBC
|
$353.93 Million |
|
Shanghai Hile Bio-tech
SHG:603718
|
$353.91 Million |
|
Shenwu Energy Saving Co Ltd
SHE:000820
|
$353.85 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Minfeng Special Paper Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,500,570,969 to 1,510,882,560, a change of 10,311,591 (0.7%).
- Net income of 16,283,691 contributed positively to equity growth.
- Dividend payments of 39,051,053 reduced retained earnings.
- Other comprehensive income decreased equity by 97,219,255.
- Other factors increased equity by 130,298,209.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥16.28 Million | +1.08% |
| Dividends Paid | CN¥39.05 Million | -2.58% |
| Other Comprehensive Income | CN¥-97.22 Million | -6.43% |
| Other Changes | CN¥130.30 Million | +8.62% |
| Total Change | CN¥- | 0.69% |
Book Value vs Market Value Analysis
This analysis compares Minfeng Special Paper 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: 1.60x
- 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 9.35x to 1.60x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-12-31 | CN¥0.74 | CN¥6.89 | x |
| 1999-12-31 | CN¥0.77 | CN¥6.89 | x |
| 2000-12-31 | CN¥2.05 | CN¥6.89 | x |
| 2001-12-31 | CN¥2.08 | CN¥6.89 | x |
| 2002-12-31 | CN¥2.11 | CN¥6.89 | x |
| 2003-12-31 | CN¥3.23 | CN¥6.89 | x |
| 2004-12-31 | CN¥3.23 | CN¥6.89 | x |
| 2005-12-31 | CN¥3.19 | CN¥6.89 | x |
| 2006-12-31 | CN¥3.17 | CN¥6.89 | x |
| 2007-12-31 | CN¥3.29 | CN¥6.89 | x |
| 2008-12-31 | CN¥2.92 | CN¥6.89 | x |
| 2009-12-31 | CN¥3.54 | CN¥6.89 | x |
| 2010-12-31 | CN¥3.88 | CN¥6.89 | x |
| 2011-12-31 | CN¥3.95 | CN¥6.89 | x |
| 2012-12-31 | CN¥3.58 | CN¥6.89 | x |
| 2013-12-31 | CN¥4.07 | CN¥6.89 | x |
| 2014-12-31 | CN¥3.31 | CN¥6.89 | x |
| 2015-12-31 | CN¥3.54 | CN¥6.89 | x |
| 2016-12-31 | CN¥4.02 | CN¥6.89 | x |
| 2017-12-31 | CN¥3.33 | CN¥6.89 | x |
| 2018-12-31 | CN¥3.85 | CN¥6.89 | x |
| 2019-12-31 | CN¥4.06 | CN¥6.89 | x |
| 2020-12-31 | CN¥3.88 | CN¥6.89 | x |
| 2021-12-31 | CN¥4.07 | CN¥6.89 | x |
| 2022-12-31 | CN¥3.65 | CN¥6.89 | x |
| 2023-12-31 | CN¥4.03 | CN¥6.89 | x |
| 2024-12-31 | CN¥4.17 | CN¥6.89 | x |
| 2025-12-31 | CN¥4.30 | CN¥6.89 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Minfeng Special Paper 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): 1.08%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.35%
- • Asset Turnover: 0.40x
- • Equity Multiplier: 2.01x
- Recent ROE (1.08%) is below the historical average (4.21%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | 20.99% | 16.33% | 0.57x | 2.25x | CN¥21.30 Million |
| 1999 | 20.83% | 14.99% | 0.48x | 2.88x | CN¥21.84 Million |
| 2000 | 8.24% | 14.14% | 0.33x | 1.76x | CN¥-9.48 Million |
| 2001 | 8.22% | 14.20% | 0.28x | 2.09x | CN¥-9.75 Million |
| 2002 | 8.47% | 12.13% | 0.26x | 2.67x | CN¥-8.50 Million |
| 2003 | 6.88% | 12.39% | 0.24x | 2.33x | CN¥-26.56 Million |
| 2004 | 4.53% | 6.81% | 0.25x | 2.64x | CN¥-46.45 Million |
| 2005 | 2.58% | 3.23% | 0.29x | 2.77x | CN¥-62.31 Million |
| 2006 | 0.72% | 0.62% | 0.43x | 2.67x | CN¥-76.30 Million |
| 2007 | 3.27% | 2.51% | 0.54x | 2.40x | CN¥-57.55 Million |
| 2008 | 1.37% | 0.99% | 0.58x | 2.39x | CN¥-74.47 Million |
| 2009 | 11.29% | 9.11% | 0.58x | 2.15x | CN¥12.22 Million |
| 2010 | 6.70% | 5.08% | 0.69x | 1.92x | CN¥-33.42 Million |
| 2011 | 0.76% | 0.54% | 0.62x | 2.28x | CN¥-91.40 Million |
| 2012 | 1.68% | 1.26% | 0.62x | 2.15x | CN¥-79.24 Million |
| 2013 | 1.23% | 1.37% | 0.55x | 1.63x | CN¥-123.14 Million |
| 2014 | 0.30% | 0.31% | 0.58x | 1.69x | CN¥-136.56 Million |
| 2015 | -12.44% | -11.00% | 0.55x | 2.07x | CN¥-279.95 Million |
| 2016 | 1.00% | 0.85% | 0.64x | 1.82x | CN¥-113.49 Million |
| 2017 | 1.50% | 1.19% | 0.72x | 1.75x | CN¥-108.70 Million |
| 2018 | 0.78% | 0.66% | 0.70x | 1.69x | CN¥-118.66 Million |
| 2019 | 0.99% | 0.91% | 0.64x | 1.67x | CN¥-116.98 Million |
| 2020 | 3.61% | 3.59% | 0.62x | 1.62x | CN¥-85.88 Million |
| 2021 | 4.17% | 3.82% | 0.69x | 1.59x | CN¥-81.42 Million |
| 2022 | 1.10% | 0.92% | 0.78x | 1.53x | CN¥-125.24 Million |
| 2023 | 3.22% | 2.89% | 0.67x | 1.68x | CN¥-98.24 Million |
| 2024 | 4.80% | 4.94% | 0.47x | 2.06x | CN¥-78.06 Million |
| 2025 | 1.08% | 1.35% | 0.40x | 2.01x | CN¥-134.80 Million |
Industry Comparison
This section compares Minfeng Special Paper Co Ltd's net assets metrics with peer companies in the Paper & Paper Products industry.
Industry Context
- Industry: Paper & Paper Products
- Average net assets among peers: $2,936,468,910
- Average return on equity (ROE) among peers: 6.74%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Minfeng Special Paper Co Ltd (600235) | CN¥1.51 Billion | 20.99% | 1.01x | $354.19 Million |
| Shandong Chenming Paper Holdings Ltd (000488) | $14.02 Billion | 7.67% | 0.88x | $621.89 Million |
| MCC Meili Paper Industry Co Ltd (000815) | $2.07 Billion | 2.14% | 0.50x | $2.13 Billion |
| Zhejiang Kan Specialities Material Co Ltd (002012) | $427.58 Million | 14.28% | 1.51x | $460.52 Million |
| Zhejiang Jingxing Paper Joint Stock Co Ltd (002067) | $1.94 Billion | 4.26% | 0.89x | $1.06 Billion |
| Shan Dong Sun Paper Industry Joint Stock Co Ltd (002078) | $3.14 Billion | 7.29% | 1.63x | $6.05 Billion |
| Xiamen Anne Corp Ltd (002235) | $487.19 Million | 0.86% | 0.68x | $1.01 Billion |
| Qifeng New Material Co Ltd (002521) | $2.03 Billion | 3.85% | 0.26x | $683.50 Million |
| Shandong Chenming Paper Holdings Ltd Class B (200488) | $173.01 Million | 15.23% | 0.35x | $73.04 Million |
| Cre8 Direct Ningbo Co Ltd (300703) | $855.95 Million | 8.97% | 0.74x | $473.56 Million |
| Fujian Qingshan Paper Industry Co Ltd (600103) | $4.22 Billion | 2.89% | 0.46x | $1.53 Billion |
About Minfeng Special Paper Co Ltd
Minfeng Special Paper Co.,Ltd. manufactures and sells papers in China. It offers cigarette, shaping, plug wrap, tipping base, tracing, translucent, transparent, glassine and coated, wet strength label, aluminized base, and released base papers. The company was founded in 1923 and is based in Jiaxing, China.