China First Heavy Industries
China First Heavy Industries manufactures and sells technical equipment in the People's Republic of China and internationally. The company offers nuclear power equipment; petrochemical equipment, such as coal liquefaction, and hydrogenation reactors, PTA and ethylene oxide reactor, oversized heat exchangers, coal gasifiers, etc.; metallurgical equipment, including continuous casting machine, conv… Read more
China First Heavy Industries (601106) - Net Assets
Latest net assets as of September 2025: CN¥6.72 Billion CNY
Based on the latest financial reports, China First Heavy Industries (601106) has net assets worth CN¥6.72 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¥38.49 Billion) and total liabilities (CN¥31.77 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¥6.72 Billion |
| % of Total Assets | 17.46% |
| Annual Growth Rate | 5.32% |
| 5-Year Change | -49.23% |
| 10-Year Change | -62.12% |
| Growth Volatility | 62.95 |
China First Heavy Industries - Net Assets Trend (2008–2024)
This chart illustrates how China First Heavy Industries's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for China First Heavy Industries (2008–2024)
The table below shows the annual net assets of China First Heavy Industries from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥5.71 Billion | -37.51% |
| 2023-12-31 | CN¥9.14 Billion | -22.94% |
| 2022-12-31 | CN¥11.87 Billion | +2.81% |
| 2021-12-31 | CN¥11.54 Billion | +2.56% |
| 2020-12-31 | CN¥11.25 Billion | +0.83% |
| 2019-12-31 | CN¥11.16 Billion | +1.07% |
| 2018-12-31 | CN¥11.04 Billion | +1.16% |
| 2017-12-31 | CN¥10.92 Billion | +17.50% |
| 2016-12-31 | CN¥9.29 Billion | -38.42% |
| 2015-12-31 | CN¥15.08 Billion | -11.09% |
| 2014-12-31 | CN¥16.97 Billion | +0.24% |
| 2013-12-31 | CN¥16.92 Billion | -0.05% |
| 2012-12-31 | CN¥16.93 Billion | +0.13% |
| 2011-12-31 | CN¥16.91 Billion | +2.07% |
| 2010-12-31 | CN¥16.57 Billion | +230.80% |
| 2009-12-31 | CN¥5.01 Billion | +100.86% |
| 2008-12-31 | CN¥2.49 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to China First Heavy Industries'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 1166248300000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CN¥6.86 Billion | 128.18% |
| Other Comprehensive Income | CN¥536.66 Million | 10.03% |
| Other Components | CN¥9.62 Billion | 179.77% |
| Total Equity | CN¥5.35 Billion | 100.00% |
China First Heavy Industries Competitors by Market Cap
The table below lists competitors of China First Heavy Industries ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Orpea SA
PINK:ORPEF
|
$1.78 Billion |
|
Seibu Holdings Inc
PINK:SEIBF
|
$1.78 Billion |
|
Globant SA
NYSE:GLOB
|
$1.78 Billion |
|
Charoen Pokphand Indonesia TBK PT
JK:CPIN
|
$1.78 Billion |
|
JL MAG RARE-EARTH H YC1
F:3KLA
|
$1.78 Billion |
|
Jungheinrich Aktiengesellschaft
PINK:JGHAF
|
$1.78 Billion |
|
Zhongsheng Group Holdings Limited
PINK:ZHSHF
|
$1.77 Billion |
|
Himax Technologies Inc
NASDAQ:HIMX
|
$1.77 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China First Heavy Industries's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 9,008,667,546 to 5,350,128,000, a change of -3,658,539,546 (-40.6%).
- Net loss of 3,735,864,073 reduced equity.
- Dividend payments of 372,595,613 reduced retained earnings.
- Other comprehensive income increased equity by 536,658,000.
- Other factors decreased equity by 86,737,860.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-3.74 Billion | -69.83% |
| Dividends Paid | CN¥372.60 Million | -6.96% |
| Other Comprehensive Income | CN¥536.66 Million | +10.03% |
| Other Changes | CN¥-86.74 Million | -1.62% |
| Total Change | CN¥- | -40.61% |
Book Value vs Market Value Analysis
This analysis compares China First Heavy Industries'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: 6.13x
- 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 8.77x to 6.13x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2008-12-31 | CN¥0.54 | CN¥4.74 | x |
| 2009-12-31 | CN¥0.97 | CN¥4.74 | x |
| 2010-12-31 | CN¥2.70 | CN¥4.74 | x |
| 2011-12-31 | CN¥2.37 | CN¥4.74 | x |
| 2012-12-31 | CN¥2.56 | CN¥4.74 | x |
| 2013-12-31 | CN¥2.53 | CN¥4.74 | x |
| 2014-12-31 | CN¥2.55 | CN¥4.74 | x |
| 2015-12-31 | CN¥2.28 | CN¥4.74 | x |
| 2016-12-31 | CN¥1.41 | CN¥4.74 | x |
| 2017-12-31 | CN¥1.65 | CN¥4.74 | x |
| 2018-12-31 | CN¥1.60 | CN¥4.74 | x |
| 2019-12-31 | CN¥1.61 | CN¥4.74 | x |
| 2020-12-31 | CN¥1.62 | CN¥4.74 | x |
| 2021-12-31 | CN¥1.67 | CN¥4.74 | x |
| 2022-12-31 | CN¥1.71 | CN¥4.74 | x |
| 2023-12-31 | CN¥1.30 | CN¥4.74 | x |
| 2024-12-31 | CN¥0.77 | CN¥4.74 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China First Heavy Industries 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): -69.83%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -22.48%
- • Asset Turnover: 0.42x
- • Equity Multiplier: 7.47x
- Recent ROE (-69.83%) is below the historical average (-5.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | 40.69% | 9.86% | 0.51x | 8.02x | CN¥759.04 Million |
| 2009 | 26.83% | 12.99% | 0.40x | 5.16x | CN¥745.92 Million |
| 2010 | 4.81% | 9.19% | 0.31x | 1.71x | CN¥-853.01 Million |
| 2011 | 2.53% | 4.83% | 0.26x | 2.04x | CN¥-1.25 Billion |
| 2012 | 0.18% | 0.35% | 0.23x | 2.17x | CN¥-1.64 Billion |
| 2013 | 0.10% | 0.21% | 0.23x | 2.14x | CN¥-1.65 Billion |
| 2014 | 0.15% | 0.35% | 0.18x | 2.39x | CN¥-1.65 Billion |
| 2015 | -12.05% | -35.81% | 0.13x | 2.55x | CN¥-3.29 Billion |
| 2016 | -62.29% | -178.94% | 0.11x | 3.30x | CN¥-6.65 Billion |
| 2017 | 0.78% | 0.82% | 0.31x | 3.08x | CN¥-998.83 Million |
| 2018 | 1.18% | 1.22% | 0.31x | 3.12x | CN¥-964.10 Million |
| 2019 | 1.17% | 0.98% | 0.40x | 3.00x | CN¥-975.95 Million |
| 2020 | 1.17% | 0.66% | 0.61x | 2.95x | CN¥-982.94 Million |
| 2021 | 1.47% | 0.73% | 0.60x | 3.35x | CN¥-975.84 Million |
| 2022 | 0.89% | 0.44% | 0.58x | 3.52x | CN¥-1.07 Billion |
| 2023 | -30.05% | -15.77% | 0.43x | 4.44x | CN¥-3.61 Billion |
| 2024 | -69.83% | -22.48% | 0.42x | 7.47x | CN¥-4.27 Billion |
Industry Comparison
This section compares China First Heavy Industries's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $1,569,233,767
- Average return on equity (ROE) among peers: 5.20%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China First Heavy Industries (601106) | CN¥6.72 Billion | 40.69% | 4.73x | $1.78 Billion |
| Huayi Compressor Co Ltd (000404) | $4.26 Billion | 2.35% | 1.40x | $442.61 Million |
| Shenyang Machine Tool Co Ltd (000410) | $665.41 Million | 10.13% | 1.41x | $1.49 Billion |
| North Industries Group Red Arrow Co Ltd (000519) | $3.61 Billion | 10.56% | 0.36x | $1.93 Billion |
| Bingshan Refrigeration & Heat Transfer Technologies Co Ltd (000530) | $1.16 Billion | 7.64% | 0.59x | $518.05 Million |
| Changchai Co Ltd (000570) | $1.16 Billion | -7.27% | 0.64x | $384.56 Million |
| Jiangsu Youli Investment Holding Co Ltd (000584) | $476.85 Million | 1.36% | 1.42x | $25.43 Million |
| Baota Industry Co Ltd (000595) | $352.33 Million | 0.81% | 1.70x | $533.76 Million |
| SUFA Technology Industry Co Ltd CNNC (000777) | $260.61 Million | 10.90% | 0.50x | $943.61 Million |
| J.S. Corrugating Machinery Co Ltd (000821) | $863.72 Million | 10.27% | 0.62x | $759.53 Million |
| Qinchuan Machine Tool & Tool Group Share Co Ltd (000837) | $2.89 Billion | 5.30% | 2.21x | $880.10 Million |