Jiangsu Expressway Co Ltd (600377) - Net Assets
Based on the latest financial reports, Jiangsu Expressway Co Ltd (600377) has net assets worth CN¥52.32 Billion CNY (≈ $7.66 Billion 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¥92.85 Billion ≈ $13.59 Billion USD) and total liabilities (CN¥40.53 Billion ≈ $5.93 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 600377 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥52.32 Billion |
| % of Total Assets | 56.35% |
| Annual Growth Rate | 5.36% |
| 5-Year Change | 50.48% |
| 10-Year Change | 134.75% |
| Growth Volatility | 4.73 |
Jiangsu Expressway Co Ltd - Net Assets Trend (1997–2024)
This chart illustrates how Jiangsu Expressway Co Ltd's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Jiangsu Expressway Co Ltd to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Jiangsu Expressway Co Ltd (1997–2024)
The table below shows the annual net assets of Jiangsu Expressway Co Ltd from 1997 to 2024. For live valuation and market cap data, see 600377 company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥49.73 Billion ≈ $7.28 Billion |
+21.63% |
| 2023-12-31 | CN¥40.89 Billion ≈ $5.98 Billion |
+7.74% |
| 2022-12-31 | CN¥37.95 Billion ≈ $5.55 Billion |
+7.33% |
| 2021-12-31 | CN¥35.36 Billion ≈ $5.17 Billion |
+6.99% |
| 2020-12-31 | CN¥33.05 Billion ≈ $4.84 Billion |
+1.12% |
| 2019-12-31 | CN¥32.68 Billion ≈ $4.78 Billion |
+11.34% |
| 2018-12-31 | CN¥29.35 Billion ≈ $4.30 Billion |
+13.36% |
| 2017-12-31 | CN¥25.89 Billion ≈ $3.79 Billion |
+12.87% |
| 2016-12-31 | CN¥22.94 Billion ≈ $3.36 Billion |
+8.29% |
| 2015-12-31 | CN¥21.19 Billion ≈ $3.10 Billion |
+1.19% |
| 2014-12-31 | CN¥20.94 Billion ≈ $3.06 Billion |
+4.17% |
| 2013-12-31 | CN¥20.10 Billion ≈ $2.94 Billion |
+4.92% |
| 2012-12-31 | CN¥19.16 Billion ≈ $2.80 Billion |
+2.94% |
| 2011-12-31 | CN¥18.61 Billion ≈ $2.72 Billion |
+3.24% |
| 2010-12-31 | CN¥18.02 Billion ≈ $2.64 Billion |
+4.75% |
| 2009-12-31 | CN¥17.21 Billion ≈ $2.52 Billion |
+4.87% |
| 2008-12-31 | CN¥16.41 Billion ≈ $2.40 Billion |
+1.67% |
| 2007-12-31 | CN¥16.14 Billion ≈ $2.36 Billion |
+4.40% |
| 2006-12-31 | CN¥15.46 Billion ≈ $2.26 Billion |
+2.71% |
| 2005-12-31 | CN¥15.05 Billion ≈ $2.20 Billion |
-0.20% |
| 2004-12-31 | CN¥15.08 Billion ≈ $2.21 Billion |
+0.78% |
| 2003-12-31 | CN¥14.96 Billion ≈ $2.19 Billion |
+6.80% |
| 2002-12-31 | CN¥14.01 Billion ≈ $2.05 Billion |
+3.00% |
| 2001-12-31 | CN¥13.60 Billion ≈ $1.99 Billion |
+0.96% |
| 2000-12-31 | CN¥13.47 Billion ≈ $1.97 Billion |
+4.97% |
| 1999-12-31 | CN¥12.83 Billion ≈ $1.88 Billion |
+2.76% |
| 1998-12-31 | CN¥12.49 Billion ≈ $1.83 Billion |
+2.77% |
| 1997-12-31 | CN¥12.15 Billion ≈ $1.78 Billion |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Jiangsu Expressway 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 21801.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥15.69 Billion | 40.65% |
| Common Stock | CN¥5.04 Billion | 13.05% |
| Other Comprehensive Income | CN¥13.74 Billion | 35.59% |
| Other Components | CN¥4.14 Billion | 10.71% |
| Total Equity | CN¥38.60 Billion | 100.00% |
Jiangsu Expressway Co Ltd Competitors by Market Cap
The table below lists competitors of Jiangsu Expressway Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
AptarGroup Inc
NYSE:ATR
|
$7.18 Billion |
|
X-Energy, Inc. Class A Common Stock
NASDAQ:XE
|
$7.18 Billion |
|
Brown-Forman Corporation
NYSE:BF-B
|
$7.19 Billion |
|
Telekom Malaysia Bhd
KLSE:4863
|
$7.20 Billion |
|
HealthEquity Inc
NASDAQ:HQY
|
$7.17 Billion |
|
Nemetschek AG O.N.
XETRA:NEM
|
$7.17 Billion |
|
Silicon Laboratories Inc
NASDAQ:SLAB
|
$7.16 Billion |
|
Terex Corporation
NYSE:TEX
|
$7.16 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Jiangsu Expressway Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 33,987,287,307 to 38,596,796,000, a change of 4,609,508,693 (13.6%).
- Net income of 4,946,691,610 contributed positively to equity growth.
- Dividend payments of 3,330,286,000 reduced retained earnings.
- Other comprehensive income increased equity by 2,133,212,282.
- Other factors increased equity by 859,890,801.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥4.95 Billion | +12.82% |
| Dividends Paid | CN¥3.33 Billion | -8.63% |
| Other Comprehensive Income | CN¥2.13 Billion | +5.53% |
| Other Changes | CN¥859.89 Million | +2.23% |
| Total Change | CN¥- | 13.56% |
Book Value vs Market Value Analysis
This analysis compares Jiangsu Expressway 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: 1.53x
- 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 5.38x to 1.53x 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¥2.39 | CN¥12.84 | x |
| 1998-12-31 | CN¥2.44 | CN¥12.84 | x |
| 1999-12-31 | CN¥2.48 | CN¥12.84 | x |
| 2000-12-31 | CN¥2.65 | CN¥12.84 | x |
| 2001-12-31 | CN¥2.67 | CN¥12.84 | x |
| 2002-12-31 | CN¥2.70 | CN¥12.84 | x |
| 2003-12-31 | CN¥2.89 | CN¥12.84 | x |
| 2004-12-31 | CN¥2.91 | CN¥12.84 | x |
| 2005-12-31 | CN¥2.91 | CN¥12.84 | x |
| 2006-12-31 | CN¥2.94 | CN¥12.84 | x |
| 2007-12-31 | CN¥3.12 | CN¥12.84 | x |
| 2008-12-31 | CN¥3.16 | CN¥12.84 | x |
| 2009-12-31 | CN¥3.32 | CN¥12.84 | x |
| 2010-12-31 | CN¥3.49 | CN¥12.84 | x |
| 2011-12-31 | CN¥3.60 | CN¥12.84 | x |
| 2012-12-31 | CN¥3.71 | CN¥12.84 | x |
| 2013-12-31 | CN¥3.89 | CN¥12.84 | x |
| 2014-12-31 | CN¥4.04 | CN¥12.84 | x |
| 2015-12-31 | CN¥4.06 | CN¥12.84 | x |
| 2016-12-31 | CN¥4.41 | CN¥12.84 | x |
| 2017-12-31 | CN¥4.67 | CN¥12.84 | x |
| 2018-12-31 | CN¥5.19 | CN¥12.84 | x |
| 2019-12-31 | CN¥5.67 | CN¥12.84 | x |
| 2020-12-31 | CN¥5.60 | CN¥12.84 | x |
| 2021-12-31 | CN¥6.00 | CN¥12.84 | x |
| 2022-12-31 | CN¥6.96 | CN¥12.84 | x |
| 2023-12-31 | CN¥7.40 | CN¥12.84 | x |
| 2024-12-31 | CN¥8.41 | CN¥12.84 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Jiangsu Expressway 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): 12.82%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.32%
- • Asset Turnover: 0.26x
- • Equity Multiplier: 2.33x
- Recent ROE (12.82%) is above the historical average (10.16%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1997 | 2.61% | 43.35% | 0.05x | 1.17x | CN¥-888.62 Million |
| 1998 | 4.42% | 53.58% | 0.07x | 1.15x | CN¥-684.89 Million |
| 1999 | 4.84% | 53.13% | 0.08x | 1.16x | CN¥-644.18 Million |
| 2000 | 5.18% | 50.05% | 0.09x | 1.13x | CN¥-642.82 Million |
| 2001 | 5.80% | 48.02% | 0.11x | 1.11x | CN¥-566.19 Million |
| 2002 | 6.00% | 40.31% | 0.13x | 1.11x | CN¥-544.49 Million |
| 2003 | 6.53% | 34.80% | 0.16x | 1.15x | CN¥-505.70 Million |
| 2004 | 5.64% | 27.02% | 0.15x | 1.41x | CN¥-639.88 Million |
| 2005 | 4.76% | 32.99% | 0.08x | 1.86x | CN¥-766.80 Million |
| 2006 | 7.58% | 29.04% | 0.15x | 1.76x | CN¥-363.18 Million |
| 2007 | 10.19% | 30.15% | 0.20x | 1.65x | CN¥29.99 Million |
| 2008 | 9.73% | 29.45% | 0.21x | 1.55x | CN¥-42.88 Million |
| 2009 | 12.00% | 35.03% | 0.23x | 1.52x | CN¥335.32 Million |
| 2010 | 14.15% | 37.66% | 0.26x | 1.42x | CN¥728.03 Million |
| 2011 | 13.39% | 33.68% | 0.28x | 1.40x | CN¥615.28 Million |
| 2012 | 12.49% | 29.93% | 0.30x | 1.38x | CN¥464.46 Million |
| 2013 | 13.82% | 35.56% | 0.28x | 1.37x | CN¥748.09 Million |
| 2014 | 10.95% | 25.23% | 0.32x | 1.35x | CN¥193.07 Million |
| 2015 | 12.24% | 28.61% | 0.24x | 1.78x | CN¥459.01 Million |
| 2016 | 15.07% | 36.37% | 0.25x | 1.63x | CN¥1.13 Billion |
| 2017 | 15.25% | 37.94% | 0.22x | 1.81x | CN¥1.24 Billion |
| 2018 | 16.74% | 43.90% | 0.21x | 1.84x | CN¥1.76 Billion |
| 2019 | 14.71% | 41.67% | 0.18x | 1.95x | CN¥1.35 Billion |
| 2020 | 8.74% | 30.68% | 0.13x | 2.17x | CN¥-356.78 Million |
| 2021 | 14.16% | 30.01% | 0.21x | 2.24x | CN¥1.26 Billion |
| 2022 | 11.66% | 28.09% | 0.17x | 2.46x | CN¥530.03 Million |
| 2023 | 12.99% | 29.05% | 0.19x | 2.31x | CN¥1.01 Billion |
| 2024 | 12.82% | 21.32% | 0.26x | 2.33x | CN¥1.09 Billion |
Industry Comparison
This section compares Jiangsu Expressway Co Ltd's net assets metrics with peer companies in the Infrastructure Operations industry.
Industry Context
- Industry: Infrastructure Operations
- Average net assets among peers: $7,096,415,073
- Average return on equity (ROE) among peers: 13.21%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Jiangsu Expressway Co Ltd (600377) | CN¥52.32 Billion | 2.61% | 0.77x | $7.17 Billion |
| Guangdong Provincial Expressway Development Co Ltd (000429) | $1.06 Billion | 11.07% | 0.10x | $3.52 Billion |
| Shanxi Sanwei Group Co Ltd (000755) | $697.83 Million | 15.20% | 1.87x | $1.16 Billion |
| Dongguan Development Holdings Co Ltd (000828) | $3.18 Billion | 11.17% | 0.57x | $1.53 Billion |
| City Development Environment Co Ltd (000885) | $1.63 Billion | 7.90% | 1.70x | $1.24 Billion |
| Xiandai Investment Co Ltd (000900) | $6.61 Billion | 6.20% | 1.62x | $852.89 Million |
| Merchant Express Class A (001965) | $46.36 Billion | 7.27% | 0.41x | $9.64 Billion |
| Shandong Sunway Petrochemical Engineering Co Ltd (002469) | $91.13 Million | 33.03% | 0.59x | $610.52 Million |
| Xinjiang Communications Construction Group Co Ltd Class A (002941) | $232.30 Million | 17.55% | 4.83x | $1.26 Billion |
| Guangdong Provincial Expressway Development Co Ltd (200429) | $1.07 Billion | 11.81% | 0.12x | $423.82 Million |
| Anhui Expressway Co Ltd (600012) | $10.03 Billion | 10.88% | 0.41x | $2.76 Billion |
About Jiangsu Expressway Co Ltd
Jiangsu Expressway Company Limited, together with its subsidiaries, engages in investment, construction, operation, and management of toll roads and bridges in the People's Republic of China. The company operates the Jiangsu section of Shanghai-Nanjing Expressway, Ningchang Expressway, Zhenli Expressway, Guangjing Expressway, Xicheng Expressway, Xiyi Expressway, Zhendan Expressway, Changyi Expres… Read more