Guizhou Panjiang Refined Coal Co Ltd (600395) - Net Assets

Latest as of September 2025: CN¥11.57 Billion CNY ≈ $1.69 Billion USD

Based on the latest financial reports, Guizhou Panjiang Refined Coal Co Ltd (600395) has net assets worth CN¥11.57 Billion CNY (≈ $1.69 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¥46.50 Billion ≈ $6.80 Billion USD) and total liabilities (CN¥34.93 Billion ≈ $5.11 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. Also explore 600395 total assets for the complete picture of this company's asset base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥11.57 Billion
% of Total Assets	24.89%
Annual Growth Rate	15.03%
5-Year Change	47.45%
10-Year Change	92.36%
Growth Volatility	47.95

Guizhou Panjiang Refined Coal Co Ltd - Net Assets Trend (1997–2024)

This chart illustrates how Guizhou Panjiang Refined Coal Co Ltd's net assets have evolved over time, based on quarterly financial data. Check Guizhou Panjiang Refined Coal Co Ltd (600395) tangible net worth to evaluate the tangible quality of the company's equity base.

Annual Net Assets for Guizhou Panjiang Refined Coal Co Ltd (1997–2024)

The table below shows the annual net assets of Guizhou Panjiang Refined Coal Co Ltd from 1997 to 2024. For live valuation and market cap data, see Guizhou Panjiang Refined Coal Co Ltd market cap and net worth.

Year	Net Assets	Change
2024-12-31	CN¥11.49 Billion ≈ $1.68 Billion	-8.20%
2023-12-31	CN¥12.52 Billion ≈ $1.83 Billion	-0.54%
2022-12-31	CN¥12.58 Billion ≈ $1.84 Billion	+58.29%
2021-12-31	CN¥7.95 Billion ≈ $1.16 Billion	+2.03%
2020-12-31	CN¥7.79 Billion ≈ $1.14 Billion	+1.62%
2019-12-31	CN¥7.67 Billion ≈ $1.12 Billion	+11.17%
2018-12-31	CN¥6.90 Billion ≈ $1.01 Billion	+2.27%
2017-12-31	CN¥6.74 Billion ≈ $986.93 Million	+4.40%
2016-12-31	CN¥6.46 Billion ≈ $945.37 Million	+8.16%
2015-12-31	CN¥5.97 Billion ≈ $874.01 Million	-6.12%
2014-12-31	CN¥6.36 Billion ≈ $931.01 Million	-17.55%
2013-12-31	CN¥7.72 Billion ≈ $1.13 Billion	-6.30%
2012-12-31	CN¥8.24 Billion ≈ $1.21 Billion	+10.14%
2011-12-31	CN¥7.48 Billion ≈ $1.09 Billion	+17.08%
2010-12-31	CN¥6.39 Billion ≈ $934.62 Million	+18.99%
2009-12-31	CN¥5.37 Billion ≈ $785.44 Million	+153.82%
2008-12-31	CN¥2.11 Billion ≈ $309.45 Million	+45.76%
2007-12-31	CN¥1.45 Billion ≈ $212.30 Million	+3.86%
2006-12-31	CN¥1.40 Billion ≈ $204.40 Million	+3.40%
2005-12-31	CN¥1.35 Billion ≈ $197.68 Million	+4.42%
2004-12-31	CN¥1.29 Billion ≈ $189.32 Million	+3.24%
2003-12-31	CN¥1.25 Billion ≈ $183.38 Million	+3.04%
2002-12-31	CN¥1.22 Billion ≈ $177.96 Million	+2.59%
2001-12-31	CN¥1.19 Billion ≈ $173.48 Million	+204.73%
2000-12-31	CN¥389.03 Million ≈ $56.93 Million	+6.74%
1999-12-31	CN¥364.48 Million ≈ $53.33 Million	+35.81%
1998-12-31	CN¥268.38 Million ≈ $39.27 Million	+2.31%
1997-12-31	CN¥262.32 Million ≈ $38.39 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Guizhou Panjiang Refined Coal 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 319113407054.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	CN¥3.18 Billion	30.51%
Common Stock	CN¥2.15 Billion	20.60%
Other Components	CN¥5.10 Billion	48.90%
Total Equity	CN¥10.42 Billion	100.00%

Guizhou Panjiang Refined Coal Co Ltd Competitors by Market Cap

The table below lists competitors of Guizhou Panjiang Refined Coal Co Ltd ranked by their market capitalization.

Company	Market Cap
Carabao Group Public Company Limited BK:CBG	$1.59 Billion
Anhui Xinhua Media Co Ltd SHG:601801	$1.59 Billion
Reinsurance Group of America Inc NYSE:RZB	$1.59 Billion
Golden Ocean Group Ltd NASDAQ:GOGL	$1.59 Billion
Jiangsu New Energy Development Co Ltd SHG:603693	$1.59 Billion
YFY Inc TW:1907	$1.59 Billion
Jubilant Pharmova Limited NSE:JUBLPHARMA	$1.59 Billion
Formula Systems (1985) Ltd F:FSY	$1.59 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Guizhou Panjiang Refined Coal Co Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 11,413,582,825 to 10,422,486,000, a change of -991,096,825 (-8.7%).
Net income of 104,159,395 contributed positively to equity growth.
Dividend payments of 1,097,859,751 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	CN¥104.16 Million	+1.0%
Dividends Paid	CN¥1.10 Billion	-10.53%
Other Changes	CN¥2.60 Million	+0.02%
Total Change	CN¥-	-8.68%

Book Value vs Market Value Analysis

This analysis compares Guizhou Panjiang Refined Coal 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: 1.03x
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 10.52x to 1.03x 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¥0.48	CN¥5.06	x
1998-12-31	CN¥0.49	CN¥5.06	x
1999-12-31	CN¥0.67	CN¥5.06	x
2000-12-31	CN¥0.71	CN¥5.06	x
2001-12-31	CN¥2.17	CN¥5.06	x
2002-12-31	CN¥1.38	CN¥5.06	x
2003-12-31	CN¥1.42	CN¥5.06	x
2004-12-31	CN¥1.46	CN¥5.06	x
2005-12-31	CN¥1.52	CN¥5.06	x
2006-12-31	CN¥1.57	CN¥5.06	x
2007-12-31	CN¥2.60	CN¥5.06	x
2008-12-31	CN¥2.37	CN¥5.06	x
2009-12-31	CN¥3.65	CN¥5.06	x
2010-12-31	CN¥3.82	CN¥5.06	x
2011-12-31	CN¥4.19	CN¥5.06	x
2012-12-31	CN¥4.60	CN¥5.06	x
2013-12-31	CN¥4.43	CN¥5.06	x
2014-12-31	CN¥3.66	CN¥5.06	x
2015-12-31	CN¥3.41	CN¥5.06	x
2016-12-31	CN¥3.76	CN¥5.06	x
2017-12-31	CN¥3.89	CN¥5.06	x
2018-12-31	CN¥3.97	CN¥5.06	x
2019-12-31	CN¥4.44	CN¥5.06	x
2020-12-31	CN¥4.25	CN¥5.06	x
2021-12-31	CN¥4.18	CN¥5.06	x
2022-12-31	CN¥5.81	CN¥5.06	x
2023-12-31	CN¥5.31	CN¥5.06	x
2024-12-31	CN¥4.90	CN¥5.06	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Guizhou Panjiang Refined Coal 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): 1.00%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 1.17%
• Asset Turnover: 0.20x
• Equity Multiplier: 4.17x
Recent ROE (1.00%) is below the historical average (11.67%), 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	21.02%	11.15%	1.00x	1.88x	CN¥28.92 Million
1998	14.35%	8.91%	0.85x	1.88x	CN¥11.66 Million
1999	11.82%	9.01%	0.79x	1.66x	CN¥6.65 Million
2000	12.77%	10.56%	0.64x	1.88x	CN¥10.76 Million
2001	5.79%	13.91%	0.35x	1.17x	CN¥-49.96 Million
2002	5.57%	10.14%	0.46x	1.19x	CN¥-53.84 Million
2003	5.92%	7.70%	0.63x	1.22x	CN¥-51.18 Million
2004	6.01%	4.55%	0.93x	1.42x	CN¥-51.66 Million
2005	5.93%	3.16%	1.28x	1.47x	CN¥-55.04 Million
2006	5.79%	3.31%	1.24x	1.42x	CN¥-58.82 Million
2007	6.66%	4.01%	1.16x	1.43x	CN¥-48.49 Million
2008	25.55%	13.52%	1.50x	1.26x	CN¥328.86 Million
2009	18.54%	22.35%	0.62x	1.34x	CN¥456.03 Million
2010	21.27%	24.60%	0.66x	1.31x	CN¥712.63 Million
2011	24.57%	22.84%	0.61x	1.76x	CN¥1.01 Billion
2012	19.76%	19.08%	0.56x	1.84x	CN¥742.65 Million
2013	6.55%	8.58%	0.39x	1.93x	CN¥-249.22 Million
2014	5.08%	5.94%	0.47x	1.81x	CN¥-297.77 Million
2015	0.41%	0.57%	0.39x	1.83x	CN¥-542.83 Million
2016	3.19%	5.01%	0.34x	1.87x	CN¥-418.78 Million
2017	13.62%	14.43%	0.50x	1.90x	CN¥233.08 Million
2018	14.38%	15.52%	0.46x	2.00x	CN¥287.80 Million
2019	16.51%	16.35%	0.52x	1.95x	CN¥477.64 Million
2020	12.33%	13.20%	0.38x	2.47x	CN¥163.95 Million
2021	16.94%	12.05%	0.47x	2.96x	CN¥480.16 Million
2022	19.05%	18.53%	0.39x	2.61x	CN¥1.04 Billion
2023	6.42%	7.79%	0.27x	3.09x	CN¥-408.87 Million
2024	1.00%	1.17%	0.20x	4.17x	CN¥-938.09 Million

Industry Comparison

This section compares Guizhou Panjiang Refined Coal Co Ltd's net assets metrics with peer companies in the Thermal Coal industry.

Industry Context

Industry: Thermal Coal
Average net assets among peers: $7,669,355,688
Average return on equity (ROE) among peers: 10.17%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Guizhou Panjiang Refined Coal Co Ltd (600395)	CN¥11.57 Billion	21.02%	3.02x	$1.59 Billion
Gansu Jingyuan Coal Industry and Electricity Power Co Ltd (000552)	$7.78 Billion	6.68%	0.41x	$2.03 Billion
Jizhong Energy Resources Co Ltd (000937)	$1.49 Billion	9.97%	0.40x	$2.45 Billion
Shanxi Xishan Coal and Electricity Power Co Ltd (000983)	$18.71 Billion	1.46%	1.58x	$5.54 Billion
Huolinhe Opencut Coal Industry Corp Ltd of Inner Mongolia (002128)	$1.08 Billion	36.67%	1.79x	$9.12 Billion
Guangzhou Development Group Inc (600098)	$6.57 Billion	12.54%	0.64x	$3.22 Billion
Zhengzhou Coal Industry & Electric Power Co Ltd (600121)	$4.44 Billion	-12.25%	1.50x	$759.52 Million
Shanxi Lanhua Sci-Tech Venture Co Ltd (600123)	$5.89 Billion	21.58%	0.97x	$1.51 Billion
Wintime Energy Co Ltd (600157)	$353.78 Million	0.72%	1.96x	$5.14 Billion
Yankuang Energy Group Co Ltd (600188)	$28.46 Billion	13.63%	1.19x	$18.56 Billion
Shan XI Hua Yang Group New Energy Co Ltd (600348)	$1.93 Billion	10.66%	0.69x	$4.51 Billion

About Guizhou Panjiang Refined Coal Co Ltd

SHG:600395 China Thermal Coal

Market Cap

$1.59 Billion

CN¥10.86 Billion CNY

Market Cap Rank

#6976 Global

#1468 in China

Share Price

CN¥5.06

Change (1 day)

+4.12%

52-Week Range

CN¥4.56 - CN¥6.33

All Time High

CN¥10.86