Top Energy Shanxi Co Ltd (600780) - Net Assets
Based on the latest financial reports, Top Energy Shanxi Co Ltd (600780) has net assets worth CN¥8.53 Billion CNY (≈ $1.25 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¥12.17 Billion ≈ $1.78 Billion USD) and total liabilities (CN¥3.64 Billion ≈ $533.09 Million 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 Top Energy Shanxi Co Ltd (600780) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥8.53 Billion |
| % of Total Assets | 70.08% |
| Annual Growth Rate | 16.38% |
| 5-Year Change | 45.85% |
| 10-Year Change | 77.82% |
| Growth Volatility | 41.69 |
Top Energy Shanxi Co Ltd - Net Assets Trend (1993–2025)
This chart illustrates how Top Energy Shanxi Co Ltd's net assets have evolved over time, based on quarterly financial data. See 600780 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Top Energy Shanxi Co Ltd (1993–2025)
The table below shows the annual net assets of Top Energy Shanxi Co Ltd from 1993 to 2025. For live valuation and market cap data, see Top Energy Shanxi Co Ltd market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥8.34 Billion ≈ $1.22 Billion |
+8.95% |
| 2024-12-31 | CN¥7.66 Billion ≈ $1.12 Billion |
+4.67% |
| 2023-12-31 | CN¥7.31 Billion ≈ $1.07 Billion |
+11.03% |
| 2022-12-31 | CN¥6.59 Billion ≈ $963.90 Million |
+15.19% |
| 2021-12-31 | CN¥5.72 Billion ≈ $836.76 Million |
+1.77% |
| 2020-12-31 | CN¥5.62 Billion ≈ $822.19 Million |
+4.92% |
| 2019-12-31 | CN¥5.36 Billion ≈ $783.64 Million |
+5.45% |
| 2018-12-31 | CN¥5.08 Billion ≈ $743.14 Million |
+5.84% |
| 2017-12-31 | CN¥4.80 Billion ≈ $702.12 Million |
+2.30% |
| 2016-12-31 | CN¥4.69 Billion ≈ $686.32 Million |
+1.16% |
| 2015-12-31 | CN¥4.64 Billion ≈ $678.43 Million |
+5.19% |
| 2014-12-31 | CN¥4.41 Billion ≈ $644.98 Million |
+12.91% |
| 2013-12-31 | CN¥3.90 Billion ≈ $571.22 Million |
+8.78% |
| 2012-12-31 | CN¥3.59 Billion ≈ $525.10 Million |
+10.77% |
| 2011-12-31 | CN¥3.24 Billion ≈ $474.06 Million |
+92.43% |
| 2010-12-31 | CN¥1.68 Billion ≈ $246.35 Million |
+1.78% |
| 2009-12-31 | CN¥1.65 Billion ≈ $242.05 Million |
+0.54% |
| 2008-12-31 | CN¥1.65 Billion ≈ $240.75 Million |
-1.66% |
| 2007-12-31 | CN¥1.67 Billion ≈ $244.81 Million |
+3.59% |
| 2006-12-31 | CN¥1.61 Billion ≈ $236.32 Million |
+9.55% |
| 2005-12-31 | CN¥1.47 Billion ≈ $215.72 Million |
-11.91% |
| 2004-12-31 | CN¥1.67 Billion ≈ $244.88 Million |
+15.82% |
| 2003-12-31 | CN¥1.44 Billion ≈ $211.43 Million |
+32.18% |
| 2002-12-31 | CN¥1.09 Billion ≈ $159.95 Million |
+107.44% |
| 2001-12-31 | CN¥526.95 Million ≈ $77.11 Million |
+9.54% |
| 2000-12-31 | CN¥481.06 Million ≈ $70.39 Million |
+5.69% |
| 1999-12-31 | CN¥455.16 Million ≈ $66.60 Million |
+73.76% |
| 1998-12-31 | CN¥261.95 Million ≈ $38.33 Million |
+8.05% |
| 1997-12-31 | CN¥242.44 Million ≈ $35.48 Million |
+12.80% |
| 1996-12-31 | CN¥214.93 Million ≈ $31.45 Million |
+203.19% |
| 1995-12-31 | CN¥70.89 Million ≈ $10.37 Million |
+4.74% |
| 1994-12-31 | CN¥67.68 Million ≈ $9.90 Million |
+4.20% |
| 1993-12-31 | CN¥64.95 Million ≈ $9.50 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Top Energy Shanxi 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 521750483473.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥5.22 Billion | 62.28% |
| Other Components | CN¥3.16 Billion | 37.72% |
| Total Equity | CN¥8.38 Billion | 100.00% |
Top Energy Shanxi Co Ltd Competitors by Market Cap
The table below lists competitors of Top Energy Shanxi Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Paradise Co. Ltd
KQ:034230
|
$1.04 Billion |
|
Shanghai Jiao Yun Group Co Ltd
SHG:600676
|
$1.04 Billion |
|
Service Properties Trust
NASDAQ:SVC
|
$1.04 Billion |
|
Safety Insurance Group Inc
NASDAQ:SAFT
|
$1.04 Billion |
|
Hana Microelectronics Public Company Limited
BK:HANA
|
$1.03 Billion |
|
Ina Invest Holding AG
SW:INA
|
$1.03 Billion |
|
U Blox Holding AG
SW:UBXN
|
$1.03 Billion |
|
Zhejiang Zhengguang Industrial Co. Ltd.
SHE:301092
|
$1.03 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Top Energy Shanxi Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,691,509,462 to 8,377,805,187, a change of 686,295,725 (8.9%).
- Net income of 648,166,214 contributed positively to equity growth.
- Dividend payments of 10,793,737 reduced retained earnings.
- Other comprehensive income decreased equity by 1,008,250,813.
- Other factors increased equity by 1,057,174,061.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥648.17 Million | +7.74% |
| Dividends Paid | CN¥10.79 Million | -0.13% |
| Other Comprehensive Income | CN¥-1.01 Billion | -12.03% |
| Other Changes | CN¥1.06 Billion | +12.62% |
| Total Change | CN¥- | 8.92% |
Book Value vs Market Value Analysis
This analysis compares Top Energy Shanxi 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: 0.84x
- 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 82.91x to 0.84x 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¥0.07 | CN¥6.17 | x |
| 1994-12-31 | CN¥0.08 | CN¥6.17 | x |
| 1995-12-31 | CN¥0.08 | CN¥6.17 | x |
| 1996-12-31 | CN¥0.25 | CN¥6.17 | x |
| 1997-12-31 | CN¥0.27 | CN¥6.17 | x |
| 1998-12-31 | CN¥0.30 | CN¥6.17 | x |
| 1999-12-31 | CN¥0.52 | CN¥6.17 | x |
| 2000-12-31 | CN¥0.55 | CN¥6.17 | x |
| 2001-12-31 | CN¥0.60 | CN¥6.17 | x |
| 2002-12-31 | CN¥1.25 | CN¥6.17 | x |
| 2003-12-31 | CN¥1.51 | CN¥6.17 | x |
| 2004-12-31 | CN¥1.75 | CN¥6.17 | x |
| 2005-12-31 | CN¥1.54 | CN¥6.17 | x |
| 2006-12-31 | CN¥1.70 | CN¥6.17 | x |
| 2007-12-31 | CN¥1.92 | CN¥6.17 | x |
| 2008-12-31 | CN¥1.89 | CN¥6.17 | x |
| 2009-12-31 | CN¥1.89 | CN¥6.17 | x |
| 2010-12-31 | CN¥1.47 | CN¥6.17 | x |
| 2011-12-31 | CN¥2.82 | CN¥6.17 | x |
| 2012-12-31 | CN¥3.08 | CN¥6.17 | x |
| 2013-12-31 | CN¥3.36 | CN¥6.17 | x |
| 2014-12-31 | CN¥3.77 | CN¥6.17 | x |
| 2015-12-31 | CN¥3.99 | CN¥6.17 | x |
| 2016-12-31 | CN¥4.11 | CN¥6.17 | x |
| 2017-12-31 | CN¥4.20 | CN¥6.17 | x |
| 2018-12-31 | CN¥4.45 | CN¥6.17 | x |
| 2019-12-31 | CN¥4.69 | CN¥6.17 | x |
| 2020-12-31 | CN¥4.93 | CN¥6.17 | x |
| 2021-12-31 | CN¥5.01 | CN¥6.17 | x |
| 2022-12-31 | CN¥5.77 | CN¥6.17 | x |
| 2023-12-31 | CN¥6.41 | CN¥6.17 | x |
| 2024-12-31 | CN¥6.71 | CN¥6.17 | x |
| 2025-12-31 | CN¥7.31 | CN¥6.17 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Top Energy Shanxi 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): 7.74%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.75%
- • Asset Turnover: 0.93x
- • Equity Multiplier: 1.44x
- Recent ROE (7.74%) is below the historical average (9.31%), 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 | 9.52% | 18.60% | 0.33x | 1.56x | CN¥-311.83K |
| 1994 | 20.16% | 15.94% | 0.54x | 2.34x | CN¥6.88 Million |
| 1995 | 22.62% | 19.44% | 0.48x | 2.42x | CN¥8.94 Million |
| 1996 | 10.95% | 24.85% | 0.28x | 1.60x | CN¥2.03 Million |
| 1997 | 10.24% | 26.74% | 0.25x | 1.56x | CN¥572.61K |
| 1998 | 10.10% | 11.42% | 0.27x | 3.32x | CN¥257.60K |
| 1999 | 13.34% | 34.46% | 0.20x | 1.91x | CN¥15.21 Million |
| 2000 | 10.99% | 21.97% | 0.31x | 1.62x | CN¥4.76 Million |
| 2001 | 11.16% | 22.13% | 0.38x | 1.31x | CN¥6.11 Million |
| 2002 | 6.83% | 26.68% | 0.22x | 1.15x | CN¥-34.54 Million |
| 2003 | 17.73% | 12.51% | 0.36x | 3.90x | CN¥101.87 Million |
| 2004 | 15.70% | 11.46% | 0.46x | 2.98x | CN¥87.14 Million |
| 2005 | 9.63% | 6.01% | 0.52x | 3.09x | CN¥-4.95 Million |
| 2006 | 9.15% | 6.06% | 0.59x | 2.57x | CN¥-12.62 Million |
| 2007 | 14.38% | 11.54% | 0.64x | 1.96x | CN¥73.21 Million |
| 2008 | 0.79% | 0.67% | 0.66x | 1.78x | CN¥-151.50 Million |
| 2009 | 0.42% | 0.37% | 0.69x | 1.66x | CN¥-158.37 Million |
| 2010 | 1.84% | 1.46% | 0.88x | 1.44x | CN¥-137.31 Million |
| 2011 | 11.54% | 6.84% | 0.82x | 2.07x | CN¥49.68 Million |
| 2012 | 10.49% | 6.12% | 0.82x | 2.10x | CN¥17.30 Million |
| 2013 | 9.95% | 5.98% | 0.79x | 2.10x | CN¥-1.90 Million |
| 2014 | 13.01% | 8.82% | 0.77x | 1.92x | CN¥130.63 Million |
| 2015 | 8.08% | 6.52% | 0.65x | 1.91x | CN¥-88.07 Million |
| 2016 | 2.17% | 2.09% | 0.40x | 2.57x | CN¥-368.56 Million |
| 2017 | 1.70% | 1.61% | 0.42x | 2.50x | CN¥-399.92 Million |
| 2018 | 4.39% | 3.72% | 0.50x | 2.35x | CN¥-286.22 Million |
| 2019 | 5.20% | 4.23% | 0.80x | 1.54x | CN¥-258.19 Million |
| 2020 | 5.31% | 4.32% | 0.84x | 1.46x | CN¥-264.90 Million |
| 2021 | 3.24% | 2.38% | 0.91x | 1.49x | CN¥-388.92 Million |
| 2022 | 12.91% | 7.69% | 1.11x | 1.52x | CN¥192.65 Million |
| 2023 | 9.25% | 6.24% | 1.07x | 1.39x | CN¥-55.11 Million |
| 2024 | 6.67% | 4.73% | 1.03x | 1.37x | CN¥-256.48 Million |
| 2025 | 7.74% | 5.75% | 0.93x | 1.44x | CN¥-189.61 Million |
Industry Comparison
This section compares Top Energy Shanxi Co Ltd's net assets metrics with peer companies in the Utilities - Regulated Electric industry.
Industry Context
- Industry: Utilities - Regulated Electric
- Average net assets among peers: $4,871,615,249
- Average return on equity (ROE) among peers: 5.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Top Energy Shanxi Co Ltd (600780) | CN¥8.53 Billion | 9.52% | 0.43x | $1.04 Billion |
| Shenzhen Energy Group Co Ltd (000027) | $2.21 Billion | 5.58% | 1.50x | $4.79 Billion |
| Shenzhen Nanshan Power Co Ltd (000037) | $1.39 Billion | -11.50% | 0.87x | $514.28 Million |
| Guangzhou Hengyun Enterprises Holding Ltd (000531) | $3.48 Billion | 18.56% | 1.15x | $982.91 Million |
| An Hui Wenergy Co Ltd (000543) | $1.21 Billion | 20.23% | 0.23x | $2.66 Billion |
| Jointo Energy Investment Co Ltd Hebei (000600) | $14.72 Billion | 6.51% | 1.30x | $2.59 Billion |
| Guangdong Shaoneng Group Co Ltd (000601) | $5.06 Billion | 4.24% | 1.51x | $1.03 Billion |
| Tianjin Binhai Energy & Development Co Ltd (000695) | $273.76 Million | -8.68% | 1.71x | $480.54 Million |
| Shanxi Zhangze Electric Power Co Ltd (000767) | $1.62 Billion | 12.58% | 1.88x | $2.07 Billion |
| Jilin Power Share Co Ltd (000875) | $14.28 Billion | 3.50% | 3.67x | $2.90 Billion |
| Jiangxi Ganneng Co Ltd (000899) | $4.47 Billion | 0.37% | 0.64x | $1.54 Billion |
About Top Energy Shanxi Co Ltd
Top Energy Company Ltd.Shanxi is mainly engaged in the thermal power generation, power transmission, and distribution business in China. The company operates through three segments: Thermal Power Generation, Power Grid Distribution, and Other segments. Top Energy Company Ltd.Shanxi was founded in 1992 and is based in Taiyuan, China.