Tonghua Grape Wine Co Ltd (600365) - Net Assets
Based on the latest financial reports, Tonghua Grape Wine Co Ltd (600365) has net assets worth CN¥261.59 Million CNY (≈ $38.28 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¥771.86 Million ≈ $112.95 Million USD) and total liabilities (CN¥510.27 Million ≈ $74.67 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. Also explore balance sheet size of Tonghua Grape Wine Co Ltd for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥261.59 Million |
| % of Total Assets | 33.89% |
| Annual Growth Rate | 5.56% |
| 5-Year Change | -57.3% |
| 10-Year Change | -60.42% |
| Growth Volatility | 104.87 |
Tonghua Grape Wine Co Ltd - Net Assets Trend (1997–2024)
This chart illustrates how Tonghua Grape Wine Co Ltd's net assets have evolved over time, based on quarterly financial data. Check Tonghua Grape Wine Co Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Tonghua Grape Wine Co Ltd (1997–2024)
The table below shows the annual net assets of Tonghua Grape Wine Co Ltd from 1997 to 2024. For live valuation and market cap data, see Tonghua Grape Wine Co Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥287.63 Million ≈ $42.09 Million |
-6.64% |
| 2023-12-31 | CN¥308.10 Million ≈ $45.09 Million |
-7.17% |
| 2022-12-31 | CN¥331.91 Million ≈ $48.57 Million |
-9.05% |
| 2021-12-31 | CN¥364.91 Million ≈ $53.40 Million |
-45.83% |
| 2020-12-31 | CN¥673.67 Million ≈ $98.58 Million |
-8.25% |
| 2019-12-31 | CN¥734.28 Million ≈ $107.45 Million |
-5.86% |
| 2018-12-31 | CN¥779.98 Million ≈ $114.14 Million |
+2.42% |
| 2017-12-31 | CN¥761.52 Million ≈ $111.43 Million |
+2.53% |
| 2016-12-31 | CN¥742.71 Million ≈ $108.68 Million |
+2.21% |
| 2015-12-31 | CN¥726.65 Million ≈ $106.33 Million |
+5.85% |
| 2014-12-31 | CN¥686.52 Million ≈ $100.46 Million |
+0.63% |
| 2013-12-31 | CN¥682.23 Million ≈ $99.83 Million |
+354.79% |
| 2012-12-31 | CN¥150.01 Million ≈ $21.95 Million |
+9.58% |
| 2011-12-31 | CN¥136.89 Million ≈ $20.03 Million |
+2.94% |
| 2010-12-31 | CN¥132.99 Million ≈ $19.46 Million |
-14.67% |
| 2009-12-31 | CN¥155.85 Million ≈ $22.81 Million |
-19.56% |
| 2008-12-31 | CN¥193.74 Million ≈ $28.35 Million |
+1.12% |
| 2007-12-31 | CN¥191.60 Million ≈ $28.04 Million |
-55.50% |
| 2006-12-31 | CN¥430.53 Million ≈ $63.00 Million |
-0.61% |
| 2005-12-31 | CN¥433.19 Million ≈ $63.39 Million |
+0.29% |
| 2004-12-31 | CN¥431.92 Million ≈ $63.20 Million |
-18.61% |
| 2003-12-31 | CN¥530.66 Million ≈ $77.65 Million |
+0.95% |
| 2002-12-31 | CN¥525.68 Million ≈ $76.92 Million |
-2.67% |
| 2001-12-31 | CN¥540.12 Million ≈ $79.04 Million |
+1.50% |
| 2000-12-31 | CN¥532.15 Million ≈ $77.87 Million |
+423.77% |
| 1999-12-31 | CN¥101.60 Million ≈ $14.87 Million |
+21.86% |
| 1998-12-31 | CN¥83.37 Million ≈ $12.20 Million |
+24.90% |
| 1997-12-31 | CN¥66.75 Million ≈ $9.77 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Tonghua Grape Wine 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 decreased by 6601.7% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CN¥427.40 Million | 148.52% |
| Other Components | CN¥391.92 Million | 136.19% |
| Total Equity | CN¥287.78 Million | 100.00% |
Tonghua Grape Wine Co Ltd Competitors by Market Cap
The table below lists competitors of Tonghua Grape Wine Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Mayfield Group Holdings Ltd
AU:MYG
|
$180.08 Million |
|
Caisse Regionale de Credit Agricole Mutuel du Languedoc
PA:CRLA
|
$180.11 Million |
|
Critical Holdings Berhad
KLSE:0291
|
$180.13 Million |
|
Dynamix Corp
NASDAQ:DYNC
|
$180.19 Million |
|
Goknur Gida Maddeleri Enerji Imalati Ithalat Ihracat Ticaret ve Sanayi A.S.
IS:GOKNR
|
$179.99 Million |
|
Mayne Pharma Group Ltd
AU:MYX
|
$179.93 Million |
|
Aspo Oyj
HE:ASPO
|
$179.88 Million |
|
VietinBank Securities JSC
VN:CTS
|
$179.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tonghua Grape Wine Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 307,948,127 to 287,777,857, a change of -20,170,270 (-6.5%).
- Net loss of 49,882,101 reduced equity.
- Dividend payments of 5,703,255 reduced retained earnings.
- Other factors increased equity by 35,415,086.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-49.88 Million | -17.33% |
| Dividends Paid | CN¥5.70 Million | -1.98% |
| Other Changes | CN¥35.42 Million | +12.31% |
| Total Change | CN¥- | -6.55% |
Book Value vs Market Value Analysis
This analysis compares Tonghua Grape Wine 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: 3.91x
- 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 11.59x to 3.91x 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¥0.23 | CN¥2.71 | x |
| 1998-12-31 | CN¥0.29 | CN¥2.71 | x |
| 1999-12-31 | CN¥0.36 | CN¥2.71 | x |
| 2000-12-31 | CN¥1.86 | CN¥2.71 | x |
| 2001-12-31 | CN¥1.89 | CN¥2.71 | x |
| 2002-12-31 | CN¥1.84 | CN¥2.71 | x |
| 2003-12-31 | CN¥1.86 | CN¥2.71 | x |
| 2004-12-31 | CN¥1.51 | CN¥2.71 | x |
| 2005-12-31 | CN¥1.52 | CN¥2.71 | x |
| 2006-12-31 | CN¥1.51 | CN¥2.71 | x |
| 2007-12-31 | CN¥0.69 | CN¥2.71 | x |
| 2008-12-31 | CN¥0.90 | CN¥2.71 | x |
| 2009-12-31 | CN¥0.56 | CN¥2.71 | x |
| 2010-12-31 | CN¥0.47 | CN¥2.71 | x |
| 2011-12-31 | CN¥0.53 | CN¥2.71 | x |
| 2012-12-31 | CN¥0.51 | CN¥2.71 | x |
| 2013-12-31 | CN¥1.73 | CN¥2.71 | x |
| 2014-12-31 | CN¥1.52 | CN¥2.71 | x |
| 2015-12-31 | CN¥2.69 | CN¥2.71 | x |
| 2016-12-31 | CN¥1.71 | CN¥2.71 | x |
| 2017-12-31 | CN¥2.27 | CN¥2.71 | x |
| 2018-12-31 | CN¥1.65 | CN¥2.71 | x |
| 2019-12-31 | CN¥1.69 | CN¥2.71 | x |
| 2020-12-31 | CN¥1.49 | CN¥2.71 | x |
| 2021-12-31 | CN¥0.97 | CN¥2.71 | x |
| 2022-12-31 | CN¥0.83 | CN¥2.71 | x |
| 2023-12-31 | CN¥0.72 | CN¥2.71 | x |
| 2024-12-31 | CN¥0.69 | CN¥2.71 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tonghua Grape Wine 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): -17.33%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -5.75%
- • Asset Turnover: 0.89x
- • Equity Multiplier: 3.39x
- Recent ROE (-17.33%) is below the historical average (-6.98%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 14.41% | 13.36% | 0.36x | 2.98x | CN¥2.94 Million |
| 1998 | 19.94% | 16.10% | 0.45x | 2.74x | CN¥8.28 Million |
| 1999 | 17.94% | 14.38% | 0.43x | 2.88x | CN¥8.07 Million |
| 2000 | 3.76% | 14.48% | 0.20x | 1.28x | CN¥-33.19 Million |
| 2001 | 3.07% | 12.88% | 0.20x | 1.17x | CN¥-37.45 Million |
| 2002 | 1.75% | 8.96% | 0.16x | 1.24x | CN¥-43.38 Million |
| 2003 | 0.94% | 5.68% | 0.14x | 1.15x | CN¥-48.09 Million |
| 2004 | -22.86% | -247.98% | 0.07x | 1.23x | CN¥-141.93 Million |
| 2005 | 0.24% | 1.47% | 0.13x | 1.20x | CN¥-42.27 Million |
| 2006 | 0.27% | 1.66% | 0.14x | 1.17x | CN¥-41.88 Million |
| 2007 | -137.89% | -322.99% | 0.25x | 1.69x | CN¥-283.35 Million |
| 2008 | 1.11% | 2.46% | 0.29x | 1.54x | CN¥-17.23 Million |
| 2009 | -24.31% | -55.01% | 0.25x | 1.73x | CN¥-53.48 Million |
| 2010 | -17.19% | -27.59% | 0.32x | 1.95x | CN¥-36.16 Million |
| 2011 | 2.85% | 4.13% | 0.35x | 1.97x | CN¥-9.78 Million |
| 2012 | 8.74% | 15.57% | 0.24x | 2.33x | CN¥-1.89 Million |
| 2013 | 1.45% | 11.61% | 0.11x | 1.10x | CN¥-58.36 Million |
| 2014 | 0.33% | 2.05% | 0.14x | 1.12x | CN¥-66.20 Million |
| 2015 | 0.07% | 0.10% | 0.48x | 1.44x | CN¥-68.02 Million |
| 2016 | 0.30% | 0.35% | 0.55x | 1.58x | CN¥-66.24 Million |
| 2017 | 0.88% | 0.66% | 0.82x | 1.62x | CN¥-62.85 Million |
| 2018 | 0.61% | 0.41% | 0.86x | 1.73x | CN¥-65.14 Million |
| 2019 | -4.73% | -3.21% | 0.85x | 1.73x | CN¥-97.52 Million |
| 2020 | -11.43% | -11.17% | 0.56x | 1.82x | CN¥-127.33 Million |
| 2021 | 1.03% | 0.55% | 0.79x | 2.35x | CN¥-32.73 Million |
| 2022 | -15.60% | -6.30% | 0.87x | 2.85x | CN¥-84.92 Million |
| 2023 | -23.65% | -8.57% | 0.95x | 2.91x | CN¥-103.63 Million |
| 2024 | -17.33% | -5.75% | 0.89x | 3.39x | CN¥-78.66 Million |
Industry Comparison
This section compares Tonghua Grape Wine Co Ltd's net assets metrics with peer companies in the Beverages - Wineries & Distilleries industry.
Industry Context
- Industry: Beverages - Wineries & Distilleries
- Average net assets among peers: $9,950,655,804
- Average return on equity (ROE) among peers: 17.78%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tonghua Grape Wine Co Ltd (600365) | CN¥261.59 Million | 14.41% | 1.95x | $180.05 Million |
| Luzhou Lao Jiao Co Ltd (000568) | $144.84 Million | 28.79% | 0.85x | $18.85 Billion |
| Anhui Gujing Distillery Co Ltd (000596) | $1.14 Billion | 12.86% | 0.39x | $5.38 Billion |
| Jiugui Liquor Co Ltd (000799) | $1.76 Billion | 5.04% | 0.30x | $1.95 Billion |
| Wuliangye Yibin Co Ltd (000858) | $40.33 Billion | 14.47% | 0.15x | $42.88 Billion |
| Beijing Shunxin Agriculture Co Ltd (000860) | $2.39 Billion | 9.24% | 1.75x | $1.18 Billion |
| Yantai Changyu Pioneer Wine Co Ltd (000869) | $1.89 Billion | 16.55% | 0.24x | $1.17 Billion |
| Jiangsu Yanghe Brewery Joint-Stock Co Ltd (002304) | $47.52 Billion | 19.73% | 0.43x | $9.10 Billion |
| Shanghai Bairun Flavor & Fragrance Co Ltd (002568) | $1.78 Billion | 10.25% | 0.30x | $3.03 Billion |
| Qinghai Huzhu Barley Wine Co Ltd (002646) | $2.22 Billion | 14.26% | 0.13x | $478.14 Million |
| Anhui Gujing Distillery Co Ltd (200596) | $315.78 Million | 46.57% | 0.90x | $882.80 Million |
About Tonghua Grape Wine Co Ltd
Tonghua Grape Wine Co.,Ltd manufactures and sells fruit wines and wine in China. The company offers various categories of wines, such as dry wine, ice wine, sweet wine, and grape spirits under the Hongmei, Tonghua, Tianchi, and other brands. It also sells its products through e-commerce platforms. The company was founded in 1937 and is based in Tonghua, the People's Republic of China.