Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A (600648) - Net Assets

Latest as of March 2026: CN¥16.44 Billion CNY ≈ $2.41 Billion USD

Based on the latest financial reports, Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A (600648) has net assets worth CN¥16.44 Billion CNY (≈ $2.41 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥48.30 Billion ≈ $7.07 Billion USD) and total liabilities (CN¥31.86 Billion ≈ $4.66 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 Shanghai Waigaoqiao Free Trade Zone Grou tangible book value ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥16.44 Billion
% of Total Assets	34.04%
Annual Growth Rate	11.64%
5-Year Change	37.23%
10-Year Change	67.61%
Growth Volatility	39.19

Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A - Net Assets Trend (1992–2025)

This chart illustrates how Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A's net assets have evolved over time, based on quarterly financial data. See Shanghai Waigaoqiao Free Trade Zone Grou (600648) liquidity interval to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A (1992–2025)

The table below shows the annual net assets of Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A from 1992 to 2025. For live valuation and market cap data, see Shanghai Waigaoqiao Free Trade Zone Grou market cap and net worth.

Year	Net Assets	Change
2025-12-31	CN¥16.42 Billion ≈ $2.40 Billion	+22.22%
2024-12-31	CN¥13.44 Billion ≈ $1.97 Billion	+4.60%
2023-12-31	CN¥12.85 Billion ≈ $1.88 Billion	+4.48%
2022-12-31	CN¥12.30 Billion ≈ $1.80 Billion	+2.74%
2021-12-31	CN¥11.97 Billion ≈ $1.75 Billion	+6.52%
2020-12-31	CN¥11.24 Billion ≈ $1.64 Billion	+3.39%
2019-12-31	CN¥10.87 Billion ≈ $1.59 Billion	+1.63%
2018-12-31	CN¥10.69 Billion ≈ $1.56 Billion	+3.64%
2017-12-31	CN¥10.32 Billion ≈ $1.51 Billion	+5.30%
2016-12-31	CN¥9.80 Billion ≈ $1.43 Billion	+4.27%
2015-12-31	CN¥9.40 Billion ≈ $1.38 Billion	+1.44%
2014-12-31	CN¥9.26 Billion ≈ $1.36 Billion	+60.66%
2013-12-31	CN¥5.77 Billion ≈ $843.79 Million	+7.51%
2012-12-31	CN¥5.36 Billion ≈ $784.85 Million	+2.23%
2011-12-31	CN¥5.25 Billion ≈ $767.75 Million	+2.25%
2010-12-31	CN¥5.13 Billion ≈ $750.82 Million	+6.97%
2009-12-31	CN¥4.80 Billion ≈ $701.92 Million	+20.49%
2008-12-31	CN¥3.98 Billion ≈ $582.54 Million	+145.41%
2007-12-31	CN¥1.62 Billion ≈ $237.37 Million	+39.53%
2006-12-31	CN¥1.16 Billion ≈ $170.12 Million	+0.96%
2005-12-31	CN¥1.15 Billion ≈ $168.50 Million	-16.81%
2004-12-31	CN¥1.38 Billion ≈ $202.56 Million	+2.89%
2003-12-31	CN¥1.35 Billion ≈ $196.87 Million	+2.16%
2002-12-31	CN¥1.32 Billion ≈ $192.70 Million	-6.25%
2001-12-31	CN¥1.40 Billion ≈ $205.54 Million	-1.45%
2000-12-31	CN¥1.43 Billion ≈ $208.57 Million	+0.02%
1999-12-31	CN¥1.42 Billion ≈ $208.52 Million	+4.16%
1998-12-31	CN¥1.37 Billion ≈ $200.20 Million	-27.91%
1997-12-31	CN¥1.90 Billion ≈ $277.71 Million	+7.97%
1996-12-31	CN¥1.76 Billion ≈ $257.21 Million	+2.94%
1995-12-31	CN¥1.71 Billion ≈ $249.86 Million	-12.98%
1994-12-31	CN¥1.96 Billion ≈ $287.11 Million	+75.73%
1993-12-31	CN¥1.12 Billion ≈ $163.38 Million	+156.93%
1992-12-31	CN¥434.55 Million ≈ $63.59 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A'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 18188.5% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥7.47 Billion	46.83%
Other Components	CN¥8.48 Billion	53.17%
Total Equity	CN¥15.94 Billion	100.00%

Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A Competitors by Market Cap

The table below lists competitors of Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A ranked by their market capitalization.

Company	Market Cap
Galecto Inc NASDAQ:GLTO	$1.47 Billion
Max Stock Ltd TA:MAXO	$1.47 Billion
Stanley Fertilizer Co Ltd SHE:002588	$1.47 Billion
Guangdong Taienkang Pharmaceutical Co. Ltd SHE:301263	$1.47 Billion
Chacha Food Co Ltd SHE:002557	$1.47 Billion
Deutsche EuroShop AG F:DEQ	$1.47 Billion
Zhejiang Windey Co Ltd SHE:300772	$1.47 Billion
Bilia AB (publ) ST:BILI-A	$1.47 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 13,030,399,618 to 15,942,551,460, a change of 2,912,151,842 (22.3%).
Net income of 939,368,000 contributed positively to equity growth.
Dividend payments of 1,023,922,275 reduced retained earnings.
Other comprehensive income decreased equity by 1,291,565,141.
Other factors increased equity by 4,288,271,259.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥939.37 Million	+5.89%
Dividends Paid	CN¥1.02 Billion	-6.42%
Other Comprehensive Income	CN¥-1.29 Billion	-8.1%
Other Changes	CN¥4.29 Billion	+26.9%
Total Change	CN¥-	22.35%

Book Value vs Market Value Analysis

This analysis compares Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A'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: 0.74x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 8.19x to 0.74x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1993-12-31	CN¥1.06	CN¥8.68	x
1994-12-31	CN¥1.79	CN¥8.68	x
1995-12-31	CN¥1.59	CN¥8.68	x
1996-12-31	CN¥1.65	CN¥8.68	x
1997-12-31	CN¥1.84	CN¥8.68	x
1998-12-31	CN¥1.98	CN¥8.68	x
1999-12-31	CN¥2.06	CN¥8.68	x
2000-12-31	CN¥2.06	CN¥8.68	x
2001-12-31	CN¥2.03	CN¥8.68	x
2002-12-31	CN¥1.88	CN¥8.68	x
2003-12-31	CN¥1.88	CN¥8.68	x
2004-12-31	CN¥1.99	CN¥8.68	x
2005-12-31	CN¥1.65	CN¥8.68	x
2006-12-31	CN¥1.67	CN¥8.68	x
2007-12-31	CN¥1.55	CN¥8.68	x
2008-12-31	CN¥3.48	CN¥8.68	x
2009-12-31	CN¥4.30	CN¥8.68	x
2010-12-31	CN¥4.54	CN¥8.68	x
2011-12-31	CN¥4.55	CN¥8.68	x
2012-12-31	CN¥4.95	CN¥8.68	x
2013-12-31	CN¥5.35	CN¥8.68	x
2014-12-31	CN¥8.15	CN¥8.68	x
2015-12-31	CN¥7.86	CN¥8.68	x
2016-12-31	CN¥8.34	CN¥8.68	x
2017-12-31	CN¥8.77	CN¥8.68	x
2018-12-31	CN¥8.97	CN¥8.68	x
2019-12-31	CN¥9.29	CN¥8.68	x
2020-12-31	CN¥9.65	CN¥8.68	x
2021-12-31	CN¥10.30	CN¥8.68	x
2022-12-31	CN¥10.56	CN¥8.68	x
2023-12-31	CN¥11.08	CN¥8.68	x
2024-12-31	CN¥11.50	CN¥8.68	x
2025-12-31	CN¥11.71	CN¥8.68	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A 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): 5.89%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 15.74%
• Asset Turnover: 0.13x
• Equity Multiplier: 2.99x
Recent ROE (5.89%) is below the historical average (6.95%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1993	31.23%	30.61%	0.30x	3.42x	CN¥154.06 Million
1994	17.99%	29.35%	0.22x	2.84x	CN¥98.19 Million
1995	11.16%	25.87%	0.13x	3.33x	CN¥12.62 Million
1996	10.07%	17.57%	0.16x	3.51x	CN¥801.93K
1997	10.43%	15.94%	0.19x	3.46x	CN¥5.42 Million
1998	8.16%	74.32%	0.06x	1.95x	CN¥-24.89 Million
1999	2.16%	25.80%	0.04x	2.07x	CN¥-110.67 Million
2000	0.99%	15.05%	0.03x	1.98x	CN¥-127.34 Million
2001	0.66%	4.51%	0.07x	2.09x	CN¥-129.97 Million
2002	-9.74%	-69.23%	0.06x	2.34x	CN¥-253.82 Million
2003	1.94%	7.04%	0.11x	2.51x	CN¥-103.75 Million
2004	4.30%	11.64%	0.13x	2.88x	CN¥-77.78 Million
2005	-18.10%	-59.78%	0.08x	3.65x	CN¥-317.15 Million
2006	-1.56%	-3.70%	0.12x	3.64x	CN¥-131.98 Million
2007	12.22%	2.69%	1.16x	3.91x	CN¥34.93 Million
2008	6.90%	2.83%	0.47x	5.19x	CN¥-108.50 Million
2009	8.16%	5.11%	0.32x	4.99x	CN¥-79.40 Million
2010	14.53%	7.46%	0.37x	5.26x	CN¥206.64 Million
2011	7.69%	4.31%	0.34x	5.17x	CN¥-107.17 Million
2012	8.90%	6.03%	0.30x	4.95x	CN¥-54.62 Million
2013	10.09%	7.71%	0.28x	4.63x	CN¥4.91 Million
2014	7.85%	8.99%	0.30x	2.94x	CN¥-190.88 Million
2015	5.98%	6.76%	0.28x	3.21x	CN¥-362.48 Million
2016	7.67%	8.35%	0.29x	3.14x	CN¥-219.13 Million
2017	7.64%	8.42%	0.29x	3.08x	CN¥-234.61 Million
2018	8.03%	10.49%	0.25x	3.05x	CN¥-200.70 Million
2019	8.30%	9.72%	0.26x	3.30x	CN¥-179.67 Million
2020	6.59%	7.06%	0.26x	3.59x	CN¥-374.11 Million
2021	8.02%	10.55%	0.21x	3.69x	CN¥-231.79 Million
2022	10.35%	13.49%	0.22x	3.48x	CN¥41.42 Million
2023	7.40%	12.07%	0.17x	3.56x	CN¥-326.07 Million
2024	7.30%	13.14%	0.16x	3.54x	CN¥-351.61 Million
2025	5.89%	15.74%	0.13x	2.99x	CN¥-654.89 Million

Industry Comparison

This section compares Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A's net assets metrics with peer companies in the Specialty Business Services industry.

Industry Context

Industry: Specialty Business Services
Average net assets among peers: $1,953,306,522
Average return on equity (ROE) among peers: 0.41%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A (600648)	CN¥16.44 Billion	31.23%	1.94x	$1.47 Billion
Shaanxi Jinye Science Technology and Education Group Co Ltd (000812)	$385.12 Million	6.26%	0.80x	$384.69 Million
Tungkong Inc (002117)	$1.01 Billion	7.84%	0.32x	$675.94 Million
Eternal Asia Supply Chain Management Ltd (002183)	$10.57 Billion	1.33%	4.13x	$2.15 Billion
Hongbo Co Ltd (002229)	$889.84 Million	5.52%	0.35x	$937.37 Million
Beijing Shengtong Printing Co Ltd (002599)	$1.40 Billion	4.82%	0.86x	$452.88 Million
Shanghai Nar Industrial Co Ltd (002825)	$1.40 Billion	25.19%	0.41x	$473.29 Million
Xuchang Ketop Testing Research Ins (003008)	$1.08 Billion	7.94%	0.07x	$280.17 Million
Suzhou Electrical Apparatus Sci (300215)	$2.00 Billion	0.95%	0.43x	$793.62 Million
Trust Alliance Information Development Inc Ltd Shanghai (300469)	$362.85 Million	-41.50%	2.61x	$1.94 Billion
Hunan Huakai Cultural and Creative Co Ltd (300592)	$438.67 Million	-14.24%	1.08x	$744.37 Million

About Shanghai Waigaoqiao Free Trade Zone Group Co Ltd A

SHG:600648 China Specialty Business Services

Market Cap

$1.47 Billion

CN¥10.06 Billion CNY

Market Cap Rank

#7470 Global

#1726 in China

Share Price

CN¥8.68

Change (1 day)

-2.91%

52-Week Range

CN¥8.68 - CN¥11.65

All Time High

CN¥26.51