Spring Airlines Co Ltd

SHG:601021 China Airlines
Market Cap
$6.43 Billion
CN¥47.16 Billion CNY
Market Cap Rank
#4131 Global
#394 in China
Share Price
CN¥48.20
Change (1 day)
-0.39%
52-Week Range
CN¥47.60 - CN¥59.93
All Time High
CN¥68.58
Categories
Companies in China Airlines
About

Spring Airlines Co., Ltd. engages in the air passenger and cargo transportation business in Mainland China, Hong Kong, Macao, Taiwan, and internationally. The company also provides air mail and luggage transportation, and extended services; general aviation; inter-city-chartered passenger transportation; inter-city and county fixed-route tourist passenger transportation; and accident, travel, and… Read more

Spring Airlines Co Ltd (601021) - Net Assets

Latest net assets as of September 2025: CN¥18.18 Billion CNY

Based on the latest financial reports, Spring Airlines Co Ltd (601021) has net assets worth CN¥18.18 Billion CNY as of September 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥46.53 Billion) and total liabilities (CN¥28.35 Billion). 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.

Key Net Assets Metrics

Metric Value
Current Net Assets CN¥18.18 Billion
% of Total Assets 39.07%
Annual Growth Rate 21.06%
5-Year Change 22.57%
10-Year Change 165.77%
Growth Volatility 24.8

Spring Airlines Co Ltd - Net Assets Trend (2011–2024)

This chart illustrates how Spring Airlines Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Spring Airlines Co Ltd (2011–2024)

The table below shows the annual net assets of Spring Airlines Co Ltd from 2011 to 2024.

Year Net Assets Change
2024-12-31 CN¥17.38 Billion +10.36%
2023-12-31 CN¥15.75 Billion +15.02%
2022-12-31 CN¥13.69 Billion -0.39%
2021-12-31 CN¥13.75 Billion -3.06%
2020-12-31 CN¥14.18 Billion -5.72%
2019-12-31 CN¥15.04 Billion +12.88%
2018-12-31 CN¥13.32 Billion +57.43%
2017-12-31 CN¥8.46 Billion +15.57%
2016-12-31 CN¥7.32 Billion +11.98%
2015-12-31 CN¥6.54 Billion +84.05%
2014-12-31 CN¥3.55 Billion +29.54%
2013-12-31 CN¥2.74 Billion +32.31%
2012-12-31 CN¥2.07 Billion +43.12%
2011-12-31 CN¥1.45 Billion --

Equity Component Analysis

This analysis shows how different components contribute to Spring Airlines 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 945.3% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component Amount Percentage
Retained Earnings CN¥8.18 Billion 47.07%
Common Stock CN¥978.55 Million 5.63%
Other Comprehensive Income CN¥540.18 Million 3.11%
Other Components CN¥7.68 Billion 44.20%
Total Equity CN¥17.38 Billion 100.00%

Spring Airlines Co Ltd Competitors by Market Cap

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

Company Market Cap
Coromandel International Limited
NSE:COROMANDEL
 		$2.78 Billion
Hawkins Inc
NASDAQ:HWKN
 		$2.78 Billion
Crescent Energy Co
NYSE:CRGY
 		$2.78 Billion
JA Solar Technology Co Ltd
SHE:002459
 		$2.78 Billion
D’Ieteren NV
LSE:0ON7
 		$2.78 Billion
NRGIY
PINK:NRGIY
 		$2.77 Billion
Old Mutual Limited
PINK:ODMUF
 		$2.77 Billion
INDUSTRIAS CH-B (AKQ.SG)
STU:AKQ
 		$2.77 Billion

Equity Growth Attribution

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

Equity Growth Insights

  • From 2023 to 2024, total equity changed from 15,749,909,879 to 17,380,895,272, a change of 1,630,985,393 (10.4%).
  • Net income of 2,272,944,296 contributed positively to equity growth.
  • Dividend payments of 1,166,386,664 reduced retained earnings.
  • Share repurchases of 66,901,325 reduced equity.
  • Other comprehensive income increased equity by 540,184,868.

Equity Change Factors (2023 to 2024)

Factor Impact Contribution
Net Income CN¥2.27 Billion +13.08%
Dividends Paid CN¥1.17 Billion -6.71%
Share Repurchases CN¥66.90 Million -0.38%
Other Comprehensive Income CN¥540.18 Million +3.11%
Other Changes CN¥51.14 Million +0.29%
Total Change CN¥- 10.36%

Book Value vs Market Value Analysis

This analysis compares Spring Airlines 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: 2.71x
  • 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 19.97x to 2.71x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2011-12-31 CN¥2.41 CN¥48.20 x
2012-12-31 CN¥3.45 CN¥48.20 x
2013-12-31 CN¥4.57 CN¥48.20 x
2014-12-31 CN¥5.91 CN¥48.20 x
2015-12-31 CN¥8.27 CN¥48.20 x
2016-12-31 CN¥9.17 CN¥48.20 x
2017-12-31 CN¥10.60 CN¥48.20 x
2018-12-31 CN¥14.81 CN¥48.20 x
2019-12-31 CN¥16.41 CN¥48.20 x
2020-12-31 CN¥15.47 CN¥48.20 x
2021-12-31 CN¥15.00 CN¥48.20 x
2022-12-31 CN¥14.88 CN¥48.20 x
2023-12-31 CN¥16.12 CN¥48.20 x
2024-12-31 CN¥17.82 CN¥48.20 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Spring Airlines 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): 13.08%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 11.36%
  • • Asset Turnover: 0.46x
  • • Equity Multiplier: 2.52x
  • Recent ROE (13.08%) is below the historical average (13.44%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2011 33.35% 10.83% 0.92x 3.34x CN¥338.32 Million
2012 30.13% 11.09% 0.80x 3.38x CN¥417.27 Million
2013 26.69% 11.16% 0.86x 2.79x CN¥457.93 Million
2014 24.88% 12.07% 0.65x 3.17x CN¥528.85 Million
2015 20.30% 16.41% 0.50x 2.45x CN¥673.88 Million
2016 12.98% 11.28% 0.43x 2.68x CN¥218.17 Million
2017 14.91% 11.50% 0.53x 2.43x CN¥415.19 Million
2018 11.28% 11.46% 0.49x 1.99x CN¥170.37 Million
2019 12.24% 12.44% 0.50x 1.95x CN¥337.15 Million
2020 -4.15% -6.28% 0.29x 2.29x CN¥-2.01 Billion
2021 0.28% 0.36% 0.28x 2.79x CN¥-1.34 Billion
2022 -22.17% -36.27% 0.19x 3.17x CN¥-4.41 Billion
2023 14.33% 12.58% 0.41x 2.81x CN¥682.44 Million
2024 13.08% 11.36% 0.46x 2.52x CN¥534.85 Million

Industry Comparison

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

Industry Context

  • Industry: Airlines
  • Average net assets among peers: $35,988,410,377
  • Average return on equity (ROE) among peers: -13.98%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Spring Airlines Co Ltd (601021) CN¥18.18 Billion 33.35% 1.56x $2.78 Billion
Hainan Airlines Co Ltd A (600221) $3.46 Billion -6.23% 7.86x $4.83 Billion
Air China Ltd Class A (601111) $94.93 Billion 7.63% 1.48x $5.24 Billion
Juneyao Airlines (603885) $9.57 Billion -43.34% 3.72x $1.45 Billion