Grandblue Environment Co Ltd (600323) - Net Assets
Based on the latest financial reports, Grandblue Environment Co Ltd (600323) has net assets worth CN¥19.31 Billion CNY (≈ $2.83 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¥62.24 Billion ≈ $9.11 Billion USD) and total liabilities (CN¥42.93 Billion ≈ $6.28 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 600323 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¥19.31 Billion |
| % of Total Assets | 31.03% |
| Annual Growth Rate | 18.39% |
| 5-Year Change | 76.3% |
| 10-Year Change | 235.3% |
| Growth Volatility | 30.54 |
Grandblue Environment Co Ltd - Net Assets Trend (1997–2025)
This chart illustrates how Grandblue Environment Co Ltd's net assets have evolved over time, based on quarterly financial data. See how many days can Grandblue Environment Co Ltd fund operations to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Grandblue Environment Co Ltd (1997–2025)
The table below shows the annual net assets of Grandblue Environment Co Ltd from 1997 to 2025. For live valuation and market cap data, see 600323 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥18.57 Billion ≈ $2.72 Billion |
+22.03% |
| 2024-12-31 | CN¥15.22 Billion ≈ $2.23 Billion |
+18.54% |
| 2023-12-31 | CN¥12.84 Billion ≈ $1.88 Billion |
+10.70% |
| 2022-12-31 | CN¥11.60 Billion ≈ $1.70 Billion |
+10.10% |
| 2021-12-31 | CN¥10.54 Billion ≈ $1.54 Billion |
+28.95% |
| 2020-12-31 | CN¥8.17 Billion ≈ $1.20 Billion |
+14.57% |
| 2019-12-31 | CN¥7.13 Billion ≈ $1.04 Billion |
+11.00% |
| 2018-12-31 | CN¥6.42 Billion ≈ $940.08 Million |
+5.35% |
| 2017-12-31 | CN¥6.10 Billion ≈ $892.32 Million |
+10.08% |
| 2016-12-31 | CN¥5.54 Billion ≈ $810.61 Million |
+12.73% |
| 2015-12-31 | CN¥4.91 Billion ≈ $719.05 Million |
+33.23% |
| 2014-12-31 | CN¥3.69 Billion ≈ $539.72 Million |
+48.50% |
| 2013-12-31 | CN¥2.48 Billion ≈ $363.45 Million |
+7.90% |
| 2012-12-31 | CN¥2.30 Billion ≈ $336.85 Million |
+28.38% |
| 2011-12-31 | CN¥1.79 Billion ≈ $262.38 Million |
+9.29% |
| 2010-12-31 | CN¥1.64 Billion ≈ $240.08 Million |
+47.65% |
| 2009-12-31 | CN¥1.11 Billion ≈ $162.60 Million |
+12.92% |
| 2008-12-31 | CN¥984.05 Million ≈ $144.00 Million |
+7.95% |
| 2007-12-31 | CN¥911.57 Million ≈ $133.39 Million |
+6.27% |
| 2006-12-31 | CN¥857.76 Million ≈ $125.52 Million |
+1.59% |
| 2005-12-31 | CN¥844.36 Million ≈ $123.56 Million |
+5.17% |
| 2004-12-31 | CN¥802.84 Million ≈ $117.48 Million |
+3.86% |
| 2003-12-31 | CN¥773.02 Million ≈ $113.12 Million |
+9.03% |
| 2002-12-31 | CN¥708.97 Million ≈ $103.74 Million |
+4.48% |
| 2001-12-31 | CN¥678.57 Million ≈ $99.30 Million |
+4.11% |
| 2000-12-31 | CN¥651.80 Million ≈ $95.38 Million |
+165.09% |
| 1999-12-31 | CN¥245.88 Million ≈ $35.98 Million |
+8.71% |
| 1998-12-31 | CN¥226.18 Million ≈ $33.10 Million |
+37.48% |
| 1997-12-31 | CN¥164.51 Million ≈ $24.07 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Grandblue Environment 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 89046.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥10.68 Billion | 73.07% |
| Other Components | CN¥3.93 Billion | 26.93% |
| Total Equity | CN¥14.61 Billion | 100.00% |
Grandblue Environment Co Ltd Competitors by Market Cap
The table below lists competitors of Grandblue Environment Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Caida Securities Co Ltd
SHG:600906
|
$3.45 Billion |
|
Tonghua Golden-Horse Pharmaceutical Industry Co Ltd
SHE:000766
|
$3.45 Billion |
|
Guangdong Provincial Expressway Development Co Ltd
SHE:000429
|
$3.46 Billion |
|
Alm. Brand
CO:ALMB
|
$3.46 Billion |
|
HSD Engine Co Ltd
KO:082740
|
$3.45 Billion |
|
Jiangsu Dingsheng New Material Joint-Stock Co Ltd
SHG:603876
|
$3.45 Billion |
|
Lotte Shopping
KO:023530
|
$3.45 Billion |
|
Schibsted ASA A
OL:SCHA
|
$3.45 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Grandblue Environment Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 13,402,321,274 to 14,609,951,606, a change of 1,207,630,332 (9.0%).
- Net income of 1,973,065,483 contributed positively to equity growth.
- Dividend payments of 1,665,241,608 reduced retained earnings.
- Other comprehensive income decreased equity by 581,446,959.
- Other factors increased equity by 1,481,253,417.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥1.97 Billion | +13.5% |
| Dividends Paid | CN¥1.67 Billion | -11.4% |
| Other Comprehensive Income | CN¥-581.45 Million | -3.98% |
| Other Changes | CN¥1.48 Billion | +10.14% |
| Total Change | CN¥- | 9.01% |
Book Value vs Market Value Analysis
This analysis compares Grandblue Environment 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: 1.61x
- 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 87.51x to 1.61x 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¥0.33 | CN¥28.92 | x |
| 1998-12-31 | CN¥0.45 | CN¥28.92 | x |
| 1999-12-31 | CN¥0.49 | CN¥28.92 | x |
| 2000-12-31 | CN¥1.31 | CN¥28.92 | x |
| 2001-12-31 | CN¥1.36 | CN¥28.92 | x |
| 2002-12-31 | CN¥1.42 | CN¥28.92 | x |
| 2003-12-31 | CN¥1.55 | CN¥28.92 | x |
| 2004-12-31 | CN¥1.61 | CN¥28.92 | x |
| 2005-12-31 | CN¥1.66 | CN¥28.92 | x |
| 2006-12-31 | CN¥1.68 | CN¥28.92 | x |
| 2007-12-31 | CN¥1.80 | CN¥28.92 | x |
| 2008-12-31 | CN¥1.91 | CN¥28.92 | x |
| 2009-12-31 | CN¥2.05 | CN¥28.92 | x |
| 2010-12-31 | CN¥3.13 | CN¥28.92 | x |
| 2011-12-31 | CN¥3.35 | CN¥28.92 | x |
| 2012-12-31 | CN¥4.41 | CN¥28.92 | x |
| 2013-12-31 | CN¥3.91 | CN¥28.92 | x |
| 2014-12-31 | CN¥5.28 | CN¥28.92 | x |
| 2015-12-31 | CN¥5.78 | CN¥28.92 | x |
| 2016-12-31 | CN¥6.26 | CN¥28.92 | x |
| 2017-12-31 | CN¥6.94 | CN¥28.92 | x |
| 2018-12-31 | CN¥7.62 | CN¥28.92 | x |
| 2019-12-31 | CN¥8.56 | CN¥28.92 | x |
| 2020-12-31 | CN¥9.65 | CN¥28.92 | x |
| 2021-12-31 | CN¥12.34 | CN¥28.92 | x |
| 2022-12-31 | CN¥13.35 | CN¥28.92 | x |
| 2023-12-31 | CN¥14.83 | CN¥28.92 | x |
| 2024-12-31 | CN¥16.43 | CN¥28.92 | x |
| 2025-12-31 | CN¥17.92 | CN¥28.92 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Grandblue Environment 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): 13.50%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 14.16%
- • Asset Turnover: 0.22x
- • Equity Multiplier: 4.26x
- Recent ROE (13.50%) is above the historical average (11.15%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 3.13% | 12.95% | 0.10x | 2.47x | CN¥-11.31 Million |
| 1998 | 8.63% | 90.79% | 0.05x | 2.01x | CN¥-3.09 Million |
| 1999 | 7.81% | 63.90% | 0.07x | 1.87x | CN¥-5.39 Million |
| 2000 | 4.91% | 24.31% | 0.14x | 1.49x | CN¥-33.17 Million |
| 2001 | 10.79% | 33.51% | 0.24x | 1.32x | CN¥5.33 Million |
| 2002 | 10.17% | 30.82% | 0.26x | 1.28x | CN¥1.20 Million |
| 2003 | 8.29% | 25.08% | 0.27x | 1.21x | CN¥-13.25 Million |
| 2004 | 8.91% | 26.26% | 0.25x | 1.33x | CN¥-8.77 Million |
| 2005 | 9.36% | 24.31% | 0.26x | 1.51x | CN¥-5.30 Million |
| 2006 | 10.43% | 24.01% | 0.26x | 1.65x | CN¥3.56 Million |
| 2007 | 10.50% | 22.54% | 0.29x | 1.58x | CN¥4.44 Million |
| 2008 | 10.16% | 22.59% | 0.24x | 1.84x | CN¥1.53 Million |
| 2009 | 10.28% | 22.26% | 0.22x | 2.11x | CN¥2.78 Million |
| 2010 | 36.59% | 93.76% | 0.19x | 2.09x | CN¥405.61 Million |
| 2011 | 9.26% | 20.20% | 0.19x | 2.41x | CN¥-12.05 Million |
| 2012 | 8.39% | 21.49% | 0.19x | 2.05x | CN¥-36.41 Million |
| 2013 | 11.78% | 13.34% | 0.40x | 2.22x | CN¥43.43 Million |
| 2014 | 9.27% | 12.68% | 0.22x | 3.30x | CN¥-24.19 Million |
| 2015 | 9.17% | 12.00% | 0.27x | 2.81x | CN¥-36.54 Million |
| 2016 | 10.54% | 13.78% | 0.28x | 2.75x | CN¥26.14 Million |
| 2017 | 12.25% | 15.52% | 0.30x | 2.65x | CN¥119.77 Million |
| 2018 | 14.97% | 18.01% | 0.29x | 2.83x | CN¥289.96 Million |
| 2019 | 13.92% | 14.81% | 0.29x | 3.21x | CN¥256.79 Million |
| 2020 | 13.99% | 14.13% | 0.30x | 3.30x | CN¥301.73 Million |
| 2021 | 11.75% | 9.88% | 0.40x | 2.96x | CN¥172.92 Million |
| 2022 | 10.49% | 8.87% | 0.39x | 3.06x | CN¥53.25 Million |
| 2023 | 11.80% | 11.40% | 0.35x | 2.95x | CN¥217.75 Million |
| 2024 | 12.42% | 14.00% | 0.30x | 2.93x | CN¥323.67 Million |
| 2025 | 13.50% | 14.16% | 0.22x | 4.26x | CN¥512.07 Million |
Industry Comparison
This section compares Grandblue Environment Co Ltd's net assets metrics with peer companies in the Utilities - Regulated Water industry.
Industry Context
- Industry: Utilities - Regulated Water
- Average net assets among peers: $2,835,977,511
- Average return on equity (ROE) among peers: 1.86%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Grandblue Environment Co Ltd (600323) | CN¥19.31 Billion | 3.13% | 2.22x | $3.45 Billion |
| Chengdu Xingrong Investment Co Ltd (000598) | $13.20 Billion | 9.84% | 1.36x | $2.96 Billion |
| Bohai Water Industry Co Ltd (000605) | $-95.96 Million | 0.00% | 0.00x | $293.12 Million |
| Zhongshan Public Utilities Group Co Ltd (000685) | $309.02 Million | 6.22% | 0.31x | $2.35 Billion |
| Guangdong Shunkong Development Co Ltd (003039) | $1.83 Billion | 5.74% | 0.76x | $1.10 Billion |
| Gansu Dayu Water saving Group (300021) | $3.05 Billion | 1.60% | 2.40x | $550.54 Million |
| Beijing Water Business Doctor (300055) | $5.54 Billion | 3.83% | 0.31x | $931.79 Million |
| BGT Group Co. Ltd. (300774) | $1.13 Billion | 13.20% | 0.46x | $811.69 Million |
| Hynar Water Group Co. Ltd. (300961) | $777.03 Million | -31.81% | 2.48x | $280.95 Million |
| Shenzhen Water Planning & Design Institute Co. Ltd. (301038) | $930.59 Million | 5.66% | 1.18x | $606.52 Million |
| Wuhan Sanzhen Industry Holding Co Ltd (600168) | $1.68 Billion | 4.30% | 1.07x | $622.16 Million |
About Grandblue Environment Co Ltd
Grandblue Environment Co., Ltd. engages in the water supply, drainage, solid waste treatment, and energy businesses in China. The company provides water intake, water production, water transmission, and drinking water services; and sewage treatment, and pipeline network operation and maintenance services, as well as manages and controls wastewater plants, draining pipeline networks, and pumping s… Read more