Xiamen Tungsten Co Ltd (600549) - Net Assets

Latest as of September 2025: CN¥25.57 Billion CNY ≈ $3.74 Billion USD

Based on the latest financial reports, Xiamen Tungsten Co Ltd (600549) has net assets worth CN¥25.57 Billion CNY (≈ $3.74 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¥50.37 Billion ≈ $7.37 Billion USD) and total liabilities (CN¥24.80 Billion ≈ $3.63 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 Xiamen Tungsten Co Ltd (600549) asset resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥25.57 Billion
% of Total Assets	50.77%
Annual Growth Rate	20.59%
5-Year Change	145.32%
10-Year Change	195.71%
Growth Volatility	32.54

Xiamen Tungsten Co Ltd - Net Assets Trend (1999–2024)

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

Annual Net Assets for Xiamen Tungsten Co Ltd (1999–2024)

The table below shows the annual net assets of Xiamen Tungsten Co Ltd from 1999 to 2024. For live valuation and market cap data, see market value of Xiamen Tungsten Co Ltd.

Year	Net Assets	Change
2024-12-31	CN¥24.35 Billion ≈ $3.56 Billion	+27.68%
2023-12-31	CN¥19.07 Billion ≈ $2.79 Billion	+18.75%
2022-12-31	CN¥16.06 Billion ≈ $2.35 Billion	+23.02%
2021-12-31	CN¥13.05 Billion ≈ $1.91 Billion	+31.51%
2020-12-31	CN¥9.93 Billion ≈ $1.45 Billion	+1.54%
2019-12-31	CN¥9.78 Billion ≈ $1.43 Billion	+6.69%
2018-12-31	CN¥9.16 Billion ≈ $1.34 Billion	+4.74%
2017-12-31	CN¥8.75 Billion ≈ $1.28 Billion	+7.76%
2016-12-31	CN¥8.12 Billion ≈ $1.19 Billion	-1.42%
2015-12-31	CN¥8.23 Billion ≈ $1.20 Billion	-9.42%
2014-12-31	CN¥9.09 Billion ≈ $1.33 Billion	+49.93%
2013-12-31	CN¥6.06 Billion ≈ $887.30 Million	+7.62%
2012-12-31	CN¥5.63 Billion ≈ $824.47 Million	+11.52%
2011-12-31	CN¥5.05 Billion ≈ $739.31 Million	+23.14%
2010-12-31	CN¥4.10 Billion ≈ $600.37 Million	+2.12%
2009-12-31	CN¥4.02 Billion ≈ $587.92 Million	+17.95%
2008-12-31	CN¥3.41 Billion ≈ $498.45 Million	+7.50%
2007-12-31	CN¥3.17 Billion ≈ $463.68 Million	+111.30%
2006-12-31	CN¥1.50 Billion ≈ $219.44 Million	+21.90%
2005-12-31	CN¥1.23 Billion ≈ $180.01 Million	+18.51%
2004-12-31	CN¥1.04 Billion ≈ $151.90 Million	+27.51%
2003-12-31	CN¥814.09 Million ≈ $119.13 Million	+28.92%
2002-12-31	CN¥631.47 Million ≈ $92.40 Million	+138.25%
2001-12-31	CN¥265.05 Million ≈ $38.78 Million	+14.13%
2000-12-31	CN¥232.24 Million ≈ $33.98 Million	+2.78%
1999-12-31	CN¥225.95 Million ≈ $33.06 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Xiamen Tungsten 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 100.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Other Comprehensive Income	CN¥16.78 Billion	65.62%
Other Components	CN¥8.79 Billion	34.38%
Total Equity	CN¥25.57 Billion	100.00%

Xiamen Tungsten Co Ltd Competitors by Market Cap

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

Company	Market Cap
China Energy Engineering Corp Ltd SHG:601868	$13.43 Billion
Suzhou TA&A Ultra Clean Technology Co Ltd SHE:300390	$13.43 Billion
Galp Energia SGPS S.A. LS:GALP	$13.45 Billion
Jindal Steel & Power Limited NSE:JINDALSTEL	$13.46 Billion
CP ALL Public Company Limited BK:CPALL-R	$13.41 Billion
Jeronimo Martins SGPS SA LS:JMT	$13.41 Billion
Unisplendour Corp Ltd SHE:000938	$13.39 Billion
Hasbro Inc NASDAQ:HAS	$13.38 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 15,902,788,000 to 25,573,641,000, a change of 9,670,853,000 (60.8%).
Net income of 2,311,001,000 contributed positively to equity growth.
Other comprehensive income increased equity by 15,214,459,000.
Other factors decreased equity by 7,854,607,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥2.31 Billion	+9.04%
Other Comprehensive Income	CN¥15.21 Billion	+59.49%
Other Changes	CN¥-7.85 Billion	-30.71%
Total Change	CN¥-	60.81%

Book Value vs Market Value Analysis

This analysis compares Xiamen Tungsten 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: 3.59x
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 172.43x to 3.59x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1999-12-31	CN¥0.34	CN¥57.78	x
2000-12-31	CN¥0.35	CN¥57.78	x
2001-12-31	CN¥0.39	CN¥57.78	x
2002-12-31	CN¥1.05	CN¥57.78	x
2003-12-31	CN¥1.16	CN¥57.78	x
2004-12-31	CN¥1.36	CN¥57.78	x
2005-12-31	CN¥1.59	CN¥57.78	x
2006-12-31	CN¥1.00	CN¥57.78	x
2007-12-31	CN¥1.57	CN¥57.78	x
2008-12-31	CN¥1.71	CN¥57.78	x
2009-12-31	CN¥2.01	CN¥57.78	x
2010-12-31	CN¥2.22	CN¥57.78	x
2011-12-31	CN¥2.99	CN¥57.78	x
2012-12-31	CN¥3.35	CN¥57.78	x
2013-12-31	CN¥3.61	CN¥57.78	x
2014-12-31	CN¥6.45	CN¥57.78	x
2015-12-31	CN¥4.72	CN¥57.78	x
2016-12-31	CN¥4.61	CN¥57.78	x
2017-12-31	CN¥4.90	CN¥57.78	x
2018-12-31	CN¥5.15	CN¥57.78	x
2019-12-31	CN¥5.22	CN¥57.78	x
2020-12-31	CN¥5.42	CN¥57.78	x
2021-12-31	CN¥6.61	CN¥57.78	x
2022-12-31	CN¥7.11	CN¥57.78	x
2023-12-31	CN¥7.95	CN¥57.78	x
2024-12-31	CN¥11.13	CN¥57.78	x
2025-12-31	CN¥16.11	CN¥57.78	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Xiamen Tungsten 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): 9.04%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 4.97%
• Asset Turnover: 0.00x
• Equity Multiplier: 0.00x
Recent ROE (9.04%) is below the historical average (12.13%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1999	16.29%	5.48%	0.75x	3.96x	CN¥11.12 Million
2000	19.40%	5.49%	0.94x	3.77x	CN¥17.25 Million
2001	29.95%	8.69%	1.21x	2.86x	CN¥40.85 Million
2002	9.06%	8.65%	0.52x	2.00x	CN¥-5.18 Million
2003	8.91%	7.00%	0.44x	2.87x	CN¥-6.62 Million
2004	15.47%	7.42%	0.68x	3.07x	CN¥39.11 Million
2005	20.40%	5.94%	0.82x	4.16x	CN¥87.31 Million
2006	22.77%	5.49%	0.77x	5.39x	CN¥134.75 Million
2007	11.15%	4.33%	0.54x	4.76x	CN¥20.61 Million
2008	10.26%	4.10%	0.56x	4.47x	CN¥5.14 Million
2009	9.21%	3.36%	0.59x	4.63x	CN¥-18.26 Million
2010	13.68%	6.32%	0.46x	4.68x	CN¥94.15 Million
2011	29.67%	8.57%	0.94x	3.68x	CN¥676.75 Million
2012	13.25%	5.76%	0.69x	3.33x	CN¥125.44 Million
2013	11.05%	4.65%	0.64x	3.71x	CN¥43.53 Million
2014	5.93%	4.35%	0.59x	2.33x	CN¥-302.53 Million
2015	-9.98%	-8.54%	0.49x	2.41x	CN¥-1.33 Billion
2016	2.27%	1.72%	0.55x	2.39x	CN¥-501.91 Million
2017	8.97%	4.36%	0.75x	2.73x	CN¥-71.27 Million
2018	6.89%	2.55%	0.87x	3.11x	CN¥-225.62 Million
2019	3.53%	1.50%	0.74x	3.18x	CN¥-476.75 Million
2020	8.06%	3.24%	0.76x	3.30x	CN¥-147.37 Million
2021	12.69%	3.70%	0.97x	3.54x	CN¥250.14 Million
2022	14.48%	3.00%	1.21x	3.98x	CN¥447.14 Million
2023	14.29%	4.07%	1.00x	3.50x	CN¥480.52 Million
2024	10.87%	4.91%	0.77x	2.86x	CN¥137.65 Million
2025	9.04%	4.97%	0.00x	0.00x	CN¥-246.36 Million

Industry Comparison

This section compares Xiamen Tungsten Co Ltd's net assets metrics with peer companies in the Other Industrial Metals & Mining industry.

Industry Context

Industry: Other Industrial Metals & Mining
Average net assets among peers: $4,199,174,310
Average return on equity (ROE) among peers: -4.01%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Xiamen Tungsten Co Ltd (600549)	CN¥25.57 Billion	16.29%	0.97x	$13.42 Billion
Shenzhen Zhongjin Lingnan Nonfemet Co Ltd (000060)	$10.72 Billion	8.58%	0.82x	$4.18 Billion
Inner Mongolia Xingye Mining Co Ltd (000426)	$1.33 Billion	1.42%	1.40x	$11.01 Billion
Shengda Mining Co Ltd (000603)	$3.91 Billion	3.79%	0.68x	$3.68 Billion
Pangang Group Vanadium Titanium & Resources Co Ltd (000629)	$8.87 Billion	10.35%	1.29x	$4.95 Billion
China Tungsten and Hightech Materials Co Ltd (000657)	$3.87 Billion	3.20%	0.89x	$19.40 Billion
Guocheng Mining Co Ltd (000688)	$1.10 Billion	0.92%	1.62x	$8.93 Billion
Huludao Zinc Industry Co Ltd (000751)	$3.00 Billion	2.20%	1.74x	$1.44 Billion
China Nonferrous Metal Industry’s Foreign Engineering and Construction Co Ltd (000758)	$8.46 Billion	0.49%	1.25x	$2.04 Billion
Tibet Mineral Development Co Ltd (000762)	$525.07 Million	0.19%	0.44x	$2.95 Billion
Innuovo Technology Co Ltd Class A (000795)	$222.51 Million	-71.28%	5.89x	$1.53 Billion

About Xiamen Tungsten Co Ltd

SHG:600549 China Other Industrial Metals & Mining

Market Cap

$13.42 Billion

CN¥91.73 Billion CNY

Market Cap Rank

#1763 Global

#189 in China

Share Price

CN¥57.78

Change (1 day)

-2.84%

52-Week Range

CN¥18.98 - CN¥78.76

All Time High

CN¥78.76