Air China Ltd Class A (601111) - Net Assets
Based on the latest financial reports, Air China Ltd Class A (601111) has net assets worth CN¥42.33 Billion CNY (≈ $6.19 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥349.36 Billion ≈ $51.12 Billion USD) and total liabilities (CN¥307.03 Billion ≈ $44.93 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 how resilient are Air China Ltd Class A's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥42.33 Billion |
| % of Total Assets | 12.12% |
| Annual Growth Rate | 11.52% |
| 5-Year Change | -51.15% |
| 10-Year Change | -38.52% |
| Growth Volatility | 58.8 |
Air China Ltd Class A - Net Assets Trend (2002–2024)
This chart illustrates how Air China Ltd Class A's net assets have evolved over time, based on quarterly financial data. Also explore Air China Ltd Class A asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Air China Ltd Class A (2002–2024)
The table below shows the annual net assets of Air China Ltd Class A from 2002 to 2024. For live valuation and market cap data, see 601111 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 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 |
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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 3074412000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CN¥17.45 Billion | 38.65% |
| Other Comprehensive Income | CN¥15.24 Billion | 33.75% |
| Other Components | CN¥43.21 Billion | 95.70% |
| Total Equity | CN¥45.15 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 |
|---|---|
|
UPM-Kymmene Oyj
HE:UPM
|
$12.31 Billion |
|
Align Technology Inc
NASDAQ:ALGN
|
$12.31 Billion |
|
Korea Zinc Inc
KO:010130
|
$12.32 Billion |
|
China Pacific Insurance (Group) Co. Ltd
F:75C
|
$12.33 Billion |
|
SECOM CO.LTD ADR 1/4/O.N.
F:XSC0
|
$12.30 Billion |
|
TAISEI CORP. ADR/ 1/4
F:TKK
|
$12.29 Billion |
|
Onto Innovation Inc
NYSE:ONTO
|
$12.28 Billion |
|
Lite-On Technology Corp
TW:2301
|
$12.26 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 2023 to 2024, total equity changed from 37,229,962,000 to 45,147,411,000, a change of 7,917,449,000 (21.3%).
- Net loss of 237,305,000 reduced equity.
- Dividend payments of 6,561,686,000 reduced retained earnings.
- Other comprehensive income increased equity by 355,207,000.
- Other factors increased equity by 14,361,233,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-237.31 Million | -0.53% |
| Dividends Paid | CN¥6.56 Billion | -14.53% |
| Other Comprehensive Income | CN¥355.21 Million | +0.79% |
| Other Changes | CN¥14.36 Billion | +31.81% |
| Total Change | CN¥- | 21.27% |
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: 2.36x
- 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 30.44x to 2.36x 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¥6.73 | x |
| 2003-12-31 | CN¥0.42 | CN¥6.73 | x |
| 2004-12-31 | CN¥1.66 | CN¥6.73 | x |
| 2005-12-31 | CN¥1.93 | CN¥6.73 | x |
| 2006-12-31 | CN¥3.05 | CN¥6.73 | x |
| 2007-12-31 | CN¥2.60 | CN¥6.73 | x |
| 2008-12-31 | CN¥1.66 | CN¥6.73 | x |
| 2009-12-31 | CN¥2.00 | CN¥6.73 | x |
| 2010-12-31 | CN¥3.58 | CN¥6.73 | x |
| 2011-12-31 | CN¥3.81 | CN¥6.73 | x |
| 2012-12-31 | CN¥4.12 | CN¥6.73 | x |
| 2013-12-31 | CN¥4.41 | CN¥6.73 | x |
| 2014-12-31 | CN¥4.41 | CN¥6.73 | x |
| 2015-12-31 | CN¥4.86 | CN¥6.73 | x |
| 2016-12-31 | CN¥5.56 | CN¥6.73 | x |
| 2017-12-31 | CN¥6.42 | CN¥6.73 | x |
| 2018-12-31 | CN¥6.73 | CN¥6.73 | x |
| 2019-12-31 | CN¥6.81 | CN¥6.73 | x |
| 2020-12-31 | CN¥5.65 | CN¥6.73 | x |
| 2021-12-31 | CN¥4.47 | CN¥6.73 | x |
| 2022-12-31 | CN¥1.72 | CN¥6.73 | x |
| 2023-12-31 | CN¥2.42 | CN¥6.73 | x |
| 2024-12-31 | CN¥2.85 | CN¥6.73 | 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): -0.53%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -0.14%
- • Asset Turnover: 0.48x
- • Equity Multiplier: 7.66x
- Recent ROE (-0.53%) is above the historical average (-1.63%), indicating improving 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 |
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: $8,974,119,496
- Average return on equity (ROE) among peers: 21.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Air China Ltd Class A (601111) | CN¥42.33 Billion | 36.51% | 7.25x | $12.30 Billion |
| China Express Airlines Co Ltd Class A (002928) | $793.93 Million | 43.55% | 3.56x | $1.48 Billion |
| China Southern Airlines Co Ltd Class A (600029) | $13.26 Billion | 3.97% | 6.14x | $10.67 Billion |
| China Eastern Airlines Corp Ltd (600115) | $24.55 Billion | 12.92% | 4.04x | $10.76 Billion |
| Hainan Airlines Co Ltd A (600221) | $400.19 Million | 21.78% | 2.89x | $9.47 Billion |
| Spring Airlines Co Ltd (601021) | $2.74 Billion | 26.69% | 1.79x | $6.75 Billion |
| Juneyao Airlines (603885) | $10.10 Billion | -4.73% | 3.34x | $3.66 Billion |
| Hainan Airlines Co Ltd B (900945) | $10.97 Billion | 43.05% | 12.06x | $92.36 Million |
About Air China Ltd Class A
Air China Limited, together with its subsidiaries, provides air passenger, air cargo, and airline-related services in Mainland China, Hong Kong, Macau, Taiwan, and internationally. It operates in Airline Operations and Other Operations segments. The company also provides aircraft engineering and airport ground handling services. In addition, it is involved in the import and export trading busines… Read more