Air China Ltd Class A (601111) - Net Assets

Latest as of March 2026: CN¥40.73 Billion CNY ≈ $5.96 Billion USD

Based on the latest financial reports, Air China Ltd Class A (601111) has net assets worth CN¥40.73 Billion CNY (≈ $5.96 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¥344.27 Billion ≈ $50.38 Billion USD) and total liabilities (CN¥303.54 Billion ≈ $44.42 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 Air China Ltd Class A 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¥40.73 Billion
% of Total Assets	11.83%
Annual Growth Rate	10.82%
5-Year Change	-39.96%
10-Year Change	-48.29%
Growth Volatility	57.74

Air China Ltd Class A - Net Assets Trend (2002–2025)

This chart illustrates how Air China Ltd Class A's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Air China Ltd Class A to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Air China Ltd Class A (2002–2025)

The table below shows the annual net assets of Air China Ltd Class A from 2002 to 2025. For live valuation and market cap data, see 601111 market cap overview.

Year	Net Assets	Change
2025-12-31	CN¥39.55 Billion ≈ $5.79 Billion	-3.42%
2024-12-31	CN¥40.95 Billion ≈ $5.99 Billion	+16.03%
2023-12-31	CN¥35.29 Billion ≈ $5.16 Billion	+63.67%
2022-12-31	CN¥21.56 Billion ≈ $3.15 Billion	-67.27%
2021-12-31	CN¥65.87 Billion ≈ $9.64 Billion	-21.42%
2020-12-31	CN¥83.81 Billion ≈ $12.26 Billion	-17.32%
2019-12-31	CN¥101.38 Billion ≈ $14.83 Billion	+0.82%
2018-12-31	CN¥100.56 Billion ≈ $14.71 Billion	+5.93%
2017-12-31	CN¥94.93 Billion ≈ $13.89 Billion	+24.14%
2016-12-31	CN¥76.47 Billion ≈ $11.19 Billion	+14.83%
2015-12-31	CN¥66.60 Billion ≈ $9.74 Billion	+11.98%
2014-12-31	CN¥59.47 Billion ≈ $8.70 Billion	+2.64%
2013-12-31	CN¥57.94 Billion ≈ $8.48 Billion	+7.41%
2012-12-31	CN¥53.95 Billion ≈ $7.89 Billion	+8.98%
2011-12-31	CN¥49.50 Billion ≈ $7.24 Billion	+18.71%
2010-12-31	CN¥41.70 Billion ≈ $6.10 Billion	+74.03%
2009-12-31	CN¥23.96 Billion ≈ $3.51 Billion	+18.11%
2008-12-31	CN¥20.29 Billion ≈ $2.97 Billion	-35.47%
2007-12-31	CN¥31.44 Billion ≈ $4.60 Billion	-9.96%
2006-12-31	CN¥34.92 Billion ≈ $5.11 Billion	+54.42%
2005-12-31	CN¥22.61 Billion ≈ $3.31 Billion	+14.95%
2004-12-31	CN¥19.67 Billion ≈ $2.88 Billion	+250.66%
2003-12-31	CN¥5.61 Billion ≈ $820.91 Million	+50.78%
2002-12-31	CN¥3.72 Billion ≈ $544.44 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Air China Ltd Class 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 decreased by 3248663100000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	CN¥17.45 Billion	41.01%
Other Comprehensive Income	CN¥14.38 Billion	33.80%
Other Components	CN¥43.21 Billion	101.54%
Total Equity	CN¥42.55 Billion	100.00%

Air China Ltd Class A Competitors by Market Cap

The table below lists competitors of Air China Ltd Class A ranked by their market capitalization.

Company	Market Cap
Astra International Tbk JK:ASII	$11.41 Billion
China XD Electric Co Ltd SHG:601179	$11.45 Billion
Trimble Inc NASDAQ:TRMB	$11.46 Billion
The Phoenix Holdings Ltd. TA:PHOE	$11.46 Billion
Hong Leong Bank Bhd KLSE:5819	$11.41 Billion
Stanley Black & Decker Inc NYSE:SWK	$11.40 Billion
MILLICOM INTL CELL. DL15 F:M4M1	$11.39 Billion
Ambuja Cements Limited NSE:AMBUJACEM	$11.39 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Air China Ltd Class A's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 45,147,411,000 to 42,551,575,000, a change of -2,595,836,000 (-5.7%).
Net loss of 1,770,393,000 reduced equity.
Dividend payments of 5,670,983,000 reduced retained earnings.
Other comprehensive income decreased equity by 853,325,000.
Other factors increased equity by 5,698,865,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥-1.77 Billion	-4.16%
Dividends Paid	CN¥5.67 Billion	-13.33%
Other Comprehensive Income	CN¥-853.33 Million	-2.01%
Other Changes	CN¥5.70 Billion	+13.39%
Total Change	CN¥-	-5.75%

Book Value vs Market Value Analysis

This analysis compares Air China Ltd Class 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: 2.44x
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 28.22x to 2.44x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-12-31	CN¥0.22	CN¥6.24	x
2003-12-31	CN¥0.42	CN¥6.24	x
2004-12-31	CN¥1.66	CN¥6.24	x
2005-12-31	CN¥1.93	CN¥6.24	x
2006-12-31	CN¥3.05	CN¥6.24	x
2007-12-31	CN¥2.60	CN¥6.24	x
2008-12-31	CN¥1.66	CN¥6.24	x
2009-12-31	CN¥2.00	CN¥6.24	x
2010-12-31	CN¥3.58	CN¥6.24	x
2011-12-31	CN¥3.81	CN¥6.24	x
2012-12-31	CN¥4.12	CN¥6.24	x
2013-12-31	CN¥4.41	CN¥6.24	x
2014-12-31	CN¥4.41	CN¥6.24	x
2015-12-31	CN¥4.86	CN¥6.24	x
2016-12-31	CN¥5.56	CN¥6.24	x
2017-12-31	CN¥6.42	CN¥6.24	x
2018-12-31	CN¥6.73	CN¥6.24	x
2019-12-31	CN¥6.81	CN¥6.24	x
2020-12-31	CN¥5.65	CN¥6.24	x
2021-12-31	CN¥4.47	CN¥6.24	x
2022-12-31	CN¥1.72	CN¥6.24	x
2023-12-31	CN¥2.42	CN¥6.24	x
2024-12-31	CN¥2.85	CN¥6.24	x
2025-12-31	CN¥2.55	CN¥6.24	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Air China Ltd Class 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): -4.16%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -1.03%
• Asset Turnover: 0.49x
• Equity Multiplier: 8.26x
Recent ROE (-4.16%) is below the historical average (-1.74%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2002	36.51%	3.34%	0.45x	24.20x	CN¥601.05 Million
2003	5.04%	0.89%	0.46x	12.34x	CN¥-212.06 Million
2004	15.05%	7.35%	0.51x	3.99x	CN¥859.57 Million
2005	8.62%	4.26%	0.58x	3.48x	CN¥-274.72 Million
2006	10.22%	6.79%	0.54x	2.79x	CN¥67.38 Million
2007	12.41%	7.80%	0.56x	2.82x	CN¥752.54 Million
2008	-46.27%	-17.27%	0.54x	5.00x	CN¥-11.13 Billion
2009	21.02%	9.84%	0.48x	4.44x	CN¥2.64 Billion
2010	29.31%	15.08%	0.52x	3.73x	CN¥8.04 Billion
2011	16.00%	7.70%	0.56x	3.71x	CN¥2.80 Billion
2012	9.71%	4.92%	0.54x	3.67x	CN¥-147.69 Million
2013	6.13%	3.40%	0.48x	3.79x	CN¥-2.10 Billion
2014	7.03%	3.64%	0.50x	3.86x	CN¥-1.62 Billion
2015	11.32%	6.22%	0.51x	3.57x	CN¥791.97 Million
2016	9.89%	6.05%	0.50x	3.25x	CN¥-73.63 Million
2017	8.41%	5.97%	0.51x	2.74x	CN¥-1.37 Billion
2018	7.87%	5.36%	0.56x	2.61x	CN¥-1.99 Billion
2019	6.85%	4.71%	0.46x	3.15x	CN¥-2.94 Billion
2020	-18.57%	-20.73%	0.24x	3.66x	CN¥-22.17 Billion
2021	-27.10%	-22.33%	0.25x	4.86x	CN¥-22.78 Billion
2022	-163.58%	-73.01%	0.18x	12.50x	CN¥-40.98 Billion
2023	-2.81%	-0.74%	0.42x	9.01x	CN¥-4.77 Billion
2024	-0.53%	-0.14%	0.48x	7.66x	CN¥-4.75 Billion
2025	-4.16%	-1.03%	0.49x	8.26x	CN¥-6.03 Billion

Industry Comparison

This section compares Air China Ltd Class A's net assets metrics with peer companies in the Airlines industry.

Industry Context

Industry: Airlines
Average net assets among peers: $24,066,324,377
Average return on equity (ROE) among peers: -1.31%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Air China Ltd Class A (601111)	CN¥40.73 Billion	36.51%	7.45x	$11.41 Billion
China Express Airlines Co Ltd Class A (002928)	$3.09 Billion	-31.25%	4.89x	$1.34 Billion
China Southern Airlines Co Ltd Class A (600029)	$55.01 Billion	1.56%	5.36x	$10.43 Billion
China Eastern Airlines Corp Ltd (600115)	$21.81 Billion	20.98%	4.26x	$9.77 Billion
Hainan Airlines Co Ltd A (600221)	$2.17 Billion	7.53%	3.69x	$9.09 Billion
Spring Airlines Co Ltd (601021)	$14.18 Billion	-4.15%	1.29x	$6.55 Billion
Juneyao Airlines (603885)	$10.10 Billion	-4.73%	3.34x	$3.47 Billion
Hainan Airlines Co Ltd B (900945)	$62.11 Billion	0.87%	2.16x	$82.76 Million

About Air China Ltd Class A

SHG:601111 China Airlines

Market Cap

$11.41 Billion

CN¥77.96 Billion CNY

Market Cap Rank

#2050 Global

#233 in China

Share Price

CN¥6.24

Change (1 day)

-3.55%

52-Week Range

CN¥5.96 - CN¥9.37

All Time High

CN¥13.91