Tongwei Co Ltd (600438) - Net Assets

Latest as of September 2025: CN¥56.46 Billion CNY ≈ $8.26 Billion USD

Based on the latest financial reports, Tongwei Co Ltd (600438) has net assets worth CN¥56.46 Billion CNY (≈ $8.26 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¥201.32 Billion ≈ $29.46 Billion USD) and total liabilities (CN¥144.85 Billion ≈ $21.20 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 Tongwei Co Ltd (600438) asset resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric Value
Current Net Assets CN¥56.46 Billion
% of Total Assets 28.05%
Annual Growth Rate 29.2%
5-Year Change 83.61%
10-Year Change 2143.43%
Growth Volatility 73.42

Tongwei Co Ltd - Net Assets Trend (2000–2024)

This chart illustrates how Tongwei Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Tongwei Co Ltd balance sheet assets for the complete picture of this company's asset base.

Annual Net Assets for Tongwei Co Ltd (2000–2024)

The table below shows the annual net assets of Tongwei Co Ltd from 2000 to 2024. For live valuation and market cap data, see 600438 stock market capitalisation.

Year Net Assets Change
2024-12-31 CN¥57.92 Billion
≈ $8.48 Billion		 -21.55%
2023-12-31 CN¥73.83 Billion
≈ $10.80 Billion		 +0.80%
2022-12-31 CN¥73.25 Billion
≈ $10.72 Billion		 +75.83%
2021-12-31 CN¥41.66 Billion
≈ $6.10 Billion		 +32.06%
2020-12-31 CN¥31.54 Billion
≈ $4.62 Billion		 +74.39%
2019-12-31 CN¥18.09 Billion
≈ $2.65 Billion		 +18.79%
2018-12-31 CN¥15.23 Billion
≈ $2.23 Billion		 +11.10%
2017-12-31 CN¥13.70 Billion
≈ $2.01 Billion		 +16.13%
2016-12-31 CN¥11.80 Billion
≈ $1.73 Billion		 +357.12%
2015-12-31 CN¥2.58 Billion
≈ $377.79 Million		 +7.54%
2014-12-31 CN¥2.40 Billion
≈ $351.28 Million		 +4.86%
2013-12-31 CN¥2.29 Billion
≈ $335.01 Million		 +53.41%
2012-12-31 CN¥1.49 Billion
≈ $218.38 Million		 +3.30%
2011-12-31 CN¥1.44 Billion
≈ $211.40 Million		 +3.39%
2010-12-31 CN¥1.40 Billion
≈ $204.46 Million		 -13.71%
2009-12-31 CN¥1.62 Billion
≈ $236.96 Million		 +8.55%
2008-12-31 CN¥1.49 Billion
≈ $218.29 Million		 +28.32%
2007-12-31 CN¥1.16 Billion
≈ $170.12 Million		 +14.17%
2006-12-31 CN¥1.02 Billion
≈ $149.01 Million		 +36.98%
2005-12-31 CN¥743.39 Million
≈ $108.78 Million		 +12.69%
2004-12-31 CN¥659.70 Million
≈ $96.54 Million		 +129.15%
2003-12-31 CN¥287.90 Million
≈ $42.13 Million		 +19.21%
2002-12-31 CN¥241.51 Million
≈ $35.34 Million		 +31.55%
2001-12-31 CN¥183.59 Million
≈ $26.87 Million		 +48.45%
2000-12-31 CN¥123.67 Million
≈ $18.10 Million		 --

Equity Component Analysis

This analysis shows how different components contribute to Tongwei 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 420116.3% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings CN¥23.01 Billion 47.48%
Common Stock CN¥4.50 Billion 9.29%
Other Comprehensive Income CN¥6.84 Billion 14.12%
Other Components CN¥14.10 Billion 29.11%
Total Equity CN¥48.46 Billion 100.00%

Tongwei Co Ltd Competitors by Market Cap

The table below lists competitors of Tongwei Co Ltd ranked by their market capitalization.

Company Market Cap
Advanced Drainage Systems Inc
NYSE:WMS
 $11.46 Billion
Globe Life Inc
NYSE:GL
 $11.46 Billion
Hong Leong Bank Bhd
KLSE:5819
 $11.46 Billion
Zhengzhou Yutong Bus Co Ltd
SHG:600066
 $11.47 Billion
360 Security Technology Inc
SHG:601360
 $11.44 Billion
Cipla Limited
NSE:CIPLA
 $11.44 Billion
Washington H Soul Pattinson & Company Ltd
AU:SOL
 $11.44 Billion
Healthpeak Properties Inc
NYSE:DOC
 $11.41 Billion

Equity Growth Attribution

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

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 61,528,838,529 to 48,455,870,000, a change of -13,072,968,529 (-21.2%).
  • Net loss of 7,038,757,000 reduced equity.
  • Dividend payments of 5,628,105,000 reduced retained earnings.
  • Share repurchases of 2,001,450,000 reduced equity.
  • Other comprehensive income increased equity by 587,709,863.
  • Other factors increased equity by 1,007,633,608.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income CN¥-7.04 Billion -14.53%
Dividends Paid CN¥5.63 Billion -11.61%
Share Repurchases CN¥2.00 Billion -4.13%
Other Comprehensive Income CN¥587.71 Million +1.21%
Other Changes CN¥1.01 Billion +2.08%
Total Change CN¥- -21.25%

Book Value vs Market Value Analysis

This analysis compares Tongwei 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 270.45x 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
2000-12-31 CN¥0.06 CN¥17.37 x
2001-12-31 CN¥0.09 CN¥17.37 x
2002-12-31 CN¥0.12 CN¥17.37 x
2003-12-31 CN¥0.14 CN¥17.37 x
2004-12-31 CN¥0.34 CN¥17.37 x
2005-12-31 CN¥0.37 CN¥17.37 x
2006-12-31 CN¥0.61 CN¥17.37 x
2007-12-31 CN¥0.70 CN¥17.37 x
2008-12-31 CN¥0.78 CN¥17.37 x
2009-12-31 CN¥0.89 CN¥17.37 x
2010-12-31 CN¥0.99 CN¥17.37 x
2011-12-31 CN¥1.04 CN¥17.37 x
2012-12-31 CN¥1.08 CN¥17.37 x
2013-12-31 CN¥1.53 CN¥17.37 x
2014-12-31 CN¥1.43 CN¥17.37 x
2015-12-31 CN¥0.92 CN¥17.37 x
2016-12-31 CN¥3.67 CN¥17.37 x
2017-12-31 CN¥3.44 CN¥17.37 x
2018-12-31 CN¥3.80 CN¥17.37 x
2019-12-31 CN¥4.38 CN¥17.37 x
2020-12-31 CN¥7.17 CN¥17.37 x
2021-12-31 CN¥8.33 CN¥17.37 x
2022-12-31 CN¥12.97 CN¥17.37 x
2023-12-31 CN¥13.03 CN¥17.37 x
2024-12-31 CN¥10.87 CN¥17.37 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Tongwei 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): -14.53%
  • The company may be facing challenges in efficiently utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: -7.65%
  • • Asset Turnover: 0.47x
  • • Equity Multiplier: 4.04x
  • Recent ROE (-14.53%) is below the historical average (15.56%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2000 20.93% 7.17% 1.55x 1.88x CN¥13.23 Million
2001 29.78% 10.11% 1.11x 2.65x CN¥34.09 Million
2002 23.62% 3.88% 2.28x 2.67x CN¥30.75 Million
2003 16.08% 2.55% 1.88x 3.36x CN¥16.35 Million
2004 10.91% 2.65% 2.30x 1.79x CN¥5.81 Million
2005 17.47% 3.34% 2.57x 2.03x CN¥52.47 Million
2006 17.85% 3.11% 2.06x 2.78x CN¥66.08 Million
2007 13.51% 1.93% 2.18x 3.22x CN¥33.82 Million
2008 9.89% 1.02% 2.00x 4.83x CN¥-1.15 Million
2009 11.96% 1.41% 1.85x 4.58x CN¥24.02 Million
2010 11.82% 1.67% 2.61x 2.71x CN¥24.71 Million
2011 5.88% 0.72% 2.93x 2.78x CN¥-58.70 Million
2012 6.49% 0.71% 2.97x 3.07x CN¥-51.99 Million
2013 13.51% 2.01% 2.85x 2.36x CN¥79.40 Million
2014 14.14% 2.14% 2.49x 2.65x CN¥96.36 Million
2015 29.47% 3.92% 3.08x 2.44x CN¥486.85 Million
2016 8.77% 4.91% 0.98x 1.83x CN¥-143.08 Million
2017 15.06% 7.70% 1.02x 1.92x CN¥674.56 Million
2018 13.70% 7.33% 0.72x 2.61x CN¥544.97 Million
2019 14.99% 7.02% 0.80x 2.66x CN¥876.86 Million
2020 11.81% 8.16% 0.69x 2.10x CN¥553.78 Million
2021 21.62% 12.51% 0.73x 2.35x CN¥4.36 Billion
2022 42.33% 18.07% 0.98x 2.39x CN¥19.65 Billion
2023 22.06% 9.76% 0.85x 2.67x CN¥7.42 Billion
2024 -14.53% -7.65% 0.47x 4.04x CN¥-11.88 Billion

Industry Comparison

This section compares Tongwei Co Ltd's net assets metrics with peer companies in the Solar industry.

Industry Context

  • Industry: Solar
  • Average net assets among peers: $2,176,731,972
  • Average return on equity (ROE) among peers: -122.24%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Tongwei Co Ltd (600438) CN¥56.46 Billion 20.93% 2.57x $11.44 Billion
Shenzhen Topraysolar Co Ltd (002218) $4.20 Billion 0.55% 0.58x $1.13 Billion
JA Solar Technology Co Ltd (002459) $1.30 Billion 0.58% 0.71x $5.26 Billion
GCL System Integration Technology Co Ltd (002506) $4.44 Billion 1.25% 2.61x $3.62 Billion
Changzhou Almaden Co Ltd (002623) $2.22 Billion 3.56% 0.90x $617.25 Million
Hainan Drinda Automotive Trim Co Ltd (002865) $1.60 Billion -11.14% 2.75x $2.70 Billion
Henan Yicheng New Energy Co Ltd (300080) $5.57 Billion -2.89% 0.85x $1.23 Billion
Gansu Golden Glass Technologies Co Ltd (300093) $28.82 Million -1255.23% 99.99x $697.90 Million
Risen Energy (300118) $254.41 Million 27.58% 1.06x $2.96 Billion
Lingda Group Co Ltd (300125) $1.26 Billion 1.17% 0.88x $956.81 Million
Jolywood Suzhou Sunwatt Co Ltd (300393) $883.17 Million 12.19% 0.81x $1.61 Billion

About Tongwei Co Ltd

SHG:600438 China Solar
Market Cap
$11.44 Billion
CN¥78.20 Billion CNY
Market Cap Rank
#2015 Global
#226 in China
Share Price
CN¥17.37
Change (1 day)
+0.23%
52-Week Range
CN¥14.98 - CN¥27.16
All Time High
CN¥62.55
Categories
Companies in China Solar
About

Tongwei Co.,Ltd engages in the production and distribution of feed products in China and internationally. The company offers fish feed, pig feed, poultry feed and freshwater and aquatic feed; aquatic products; breeding and seedling cultivation; production, wholesale and retail of veterinary drugs, feed pharmaceutical additives; slaughter and processing of fish, pig, duck food and sales of fresh f… Read more