Zheshang Securities Co Ltd (601878) - Net Assets
Based on the latest financial reports, Zheshang Securities Co Ltd (601878) has net assets worth CN¥46.99 Billion CNY (≈ $6.88 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¥219.05 Billion ≈ $32.05 Billion USD) and total liabilities (CN¥172.05 Billion ≈ $25.18 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 Zheshang Securities Co Ltd's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥46.99 Billion |
| % of Total Assets | 21.45% |
| Annual Growth Rate | 15.94% |
| 5-Year Change | 88.76% |
| 10-Year Change | 332.29% |
| Growth Volatility | 12.57 |
Zheshang Securities Co Ltd - Net Assets Trend (2007–2024)
This chart illustrates how Zheshang Securities Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Zheshang Securities Co Ltd for the complete picture of this company's asset base.
Annual Net Assets for Zheshang Securities Co Ltd (2007–2024)
The table below shows the annual net assets of Zheshang Securities Co Ltd from 2007 to 2024. For live valuation and market cap data, see Zheshang Securities Co Ltd (601878) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥36.52 Billion ≈ $5.34 Billion |
+29.19% |
| 2023-12-31 | CN¥28.27 Billion ≈ $4.14 Billion |
+3.52% |
| 2022-12-31 | CN¥27.31 Billion ≈ $4.00 Billion |
+14.57% |
| 2021-12-31 | CN¥23.84 Billion ≈ $3.49 Billion |
+23.19% |
| 2020-12-31 | CN¥19.35 Billion ≈ $2.83 Billion |
+30.25% |
| 2019-12-31 | CN¥14.86 Billion ≈ $2.17 Billion |
+8.72% |
| 2018-12-31 | CN¥13.66 Billion ≈ $2.00 Billion |
+1.11% |
| 2017-12-31 | CN¥13.51 Billion ≈ $1.98 Billion |
+41.28% |
| 2016-12-31 | CN¥9.57 Billion ≈ $1.40 Billion |
+13.21% |
| 2015-12-31 | CN¥8.45 Billion ≈ $1.24 Billion |
+28.88% |
| 2014-12-31 | CN¥6.56 Billion ≈ $959.28 Million |
+13.93% |
| 2013-12-31 | CN¥5.75 Billion ≈ $841.97 Million |
+7.60% |
| 2012-12-31 | CN¥5.35 Billion ≈ $782.49 Million |
+3.32% |
| 2011-12-31 | CN¥5.18 Billion ≈ $757.35 Million |
+35.76% |
| 2010-12-31 | CN¥3.81 Billion ≈ $557.88 Million |
+19.07% |
| 2009-12-31 | CN¥3.20 Billion ≈ $468.54 Million |
+11.79% |
| 2008-12-31 | CN¥2.86 Billion ≈ $419.13 Million |
-3.08% |
| 2007-12-31 | CN¥2.96 Billion ≈ $432.46 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Zheshang Securities 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 1888.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥8.51 Billion | 24.17% |
| Common Stock | CN¥4.57 Billion | 13.00% |
| Other Comprehensive Income | CN¥5.40 Billion | 15.35% |
| Other Components | CN¥16.71 Billion | 47.48% |
| Total Equity | CN¥35.19 Billion | 100.00% |
Zheshang Securities Co Ltd Competitors by Market Cap
The table below lists competitors of Zheshang Securities Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Wan Hai Lines Ltd
TW:2615
|
$6.60 Billion |
|
Repligen Corporation
NASDAQ:RGEN
|
$6.60 Billion |
|
Gamuda Bhd
KLSE:5398
|
$6.61 Billion |
|
Nedbank Group Ltd
JSE:NED
|
$6.61 Billion |
|
CNOOC Energy Technology & Services Ltd
SHG:600968
|
$6.59 Billion |
|
Prestige Estates Projects Limited
NSE:PRESTIGE
|
$6.59 Billion |
|
Shin Kong Financial Holding Co Ltd
TW:2888
|
$6.58 Billion |
|
Tsingtao Brewery Co Ltd
SHG:600600
|
$6.58 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Zheshang Securities Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 27,016,418,000 to 35,192,805,000, a change of 8,176,387,000 (30.3%).
- Net income of 1,931,881,941 contributed positively to equity growth.
- Dividend payments of 1,327,408,804 reduced retained earnings.
- Other comprehensive income increased equity by 194,571,000.
- Other factors increased equity by 7,377,342,863.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥1.93 Billion | +5.49% |
| Dividends Paid | CN¥1.33 Billion | -3.77% |
| Other Comprehensive Income | CN¥194.57 Million | +0.55% |
| Other Changes | CN¥7.38 Billion | +20.96% |
| Total Change | CN¥- | 30.26% |
Book Value vs Market Value Analysis
This analysis compares Zheshang Securities 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: 1.18x
- 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 9.41x to 1.18x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2007-12-31 | CN¥1.05 | CN¥9.85 | x |
| 2008-12-31 | CN¥1.01 | CN¥9.85 | x |
| 2009-12-31 | CN¥1.13 | CN¥9.85 | x |
| 2010-12-31 | CN¥1.35 | CN¥9.85 | x |
| 2011-12-31 | CN¥1.83 | CN¥9.85 | x |
| 2012-12-31 | CN¥1.89 | CN¥9.85 | x |
| 2013-12-31 | CN¥1.86 | CN¥9.85 | x |
| 2014-12-31 | CN¥2.18 | CN¥9.85 | x |
| 2015-12-31 | CN¥2.81 | CN¥9.85 | x |
| 2016-12-31 | CN¥3.16 | CN¥9.85 | x |
| 2017-12-31 | CN¥4.32 | CN¥9.85 | x |
| 2018-12-31 | CN¥4.08 | CN¥9.85 | x |
| 2019-12-31 | CN¥4.46 | CN¥9.85 | x |
| 2020-12-31 | CN¥5.59 | CN¥9.85 | x |
| 2021-12-31 | CN¥6.30 | CN¥9.85 | x |
| 2022-12-31 | CN¥6.48 | CN¥9.85 | x |
| 2023-12-31 | CN¥6.47 | CN¥9.85 | x |
| 2024-12-31 | CN¥8.38 | CN¥9.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Zheshang Securities 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): 5.49%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.15%
- • Asset Turnover: 0.11x
- • Equity Multiplier: 4.38x
- Recent ROE (5.49%) is below the historical average (11.50%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2007 | 39.21% | 50.79% | 0.21x | 3.74x | CN¥863.20 Million |
| 2008 | 14.53% | 49.43% | 0.10x | 3.06x | CN¥129.86 Million |
| 2009 | 19.27% | 35.24% | 0.11x | 4.76x | CN¥296.69 Million |
| 2010 | 16.22% | 35.51% | 0.10x | 4.48x | CN¥237.29 Million |
| 2011 | 5.81% | 22.04% | 0.11x | 2.45x | CN¥-216.82 Million |
| 2012 | 3.17% | 13.26% | 0.10x | 2.47x | CN¥-365.40 Million |
| 2013 | 7.01% | 20.99% | 0.12x | 2.76x | CN¥-172.15 Million |
| 2014 | 11.44% | 23.19% | 0.09x | 5.36x | CN¥94.69 Million |
| 2015 | 21.72% | 29.83% | 0.11x | 6.57x | CN¥990.03 Million |
| 2016 | 12.97% | 26.94% | 0.09x | 5.62x | CN¥284.34 Million |
| 2017 | 7.87% | 23.08% | 0.09x | 3.92x | CN¥-287.88 Million |
| 2018 | 5.39% | 15.19% | 0.09x | 4.17x | CN¥-629.46 Million |
| 2019 | 6.51% | 13.94% | 0.10x | 4.54x | CN¥-518.01 Million |
| 2020 | 8.41% | 13.74% | 0.13x | 4.71x | CN¥-307.75 Million |
| 2021 | 9.21% | 12.20% | 0.14x | 5.25x | CN¥-188.00 Million |
| 2022 | 6.33% | 9.87% | 0.12x | 5.24x | CN¥-958.34 Million |
| 2023 | 6.49% | 9.06% | 0.13x | 5.39x | CN¥-948.10 Million |
| 2024 | 5.49% | 11.15% | 0.11x | 4.38x | CN¥-1.59 Billion |
Industry Comparison
This section compares Zheshang Securities Co Ltd's net assets metrics with peer companies in the Capital Markets industry.
Industry Context
- Industry: Capital Markets
- Average net assets among peers: $12,822,562,853
- Average return on equity (ROE) among peers: 7.47%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Zheshang Securities Co Ltd (601878) | CN¥46.99 Billion | 39.21% | 3.66x | $6.59 Billion |
| Shenwan Hongyuan Group Co Ltd (000166) | $19.38 Billion | 9.72% | 2.65x | $15.63 Billion |
| Northeast Securities Co Ltd (000686) | $19.59 Billion | 4.46% | 3.55x | $2.97 Billion |
| Guangdong Golden Dragon Development Inc (000712) | $2.25 Billion | 1.05% | 0.21x | $1.37 Billion |
| Guoyuan Securities Co Ltd (000728) | $2.55 Billion | 21.64% | 2.23x | $4.69 Billion |
| Sealand Securities Co Ltd (000750) | $22.72 Billion | 1.44% | 2.07x | $3.65 Billion |
| GF Securities Co Ltd (000776) | $431.06 Million | 6.01% | 0.62x | $18.34 Billion |
| Changjiang Securities Co Ltd (000783) | $9.12 Billion | 15.04% | 2.88x | $6.47 Billion |
| Shanxi Securities Co Ltd (002500) | $13.26 Billion | 3.08% | 2.89x | $2.97 Billion |
| Western Securities Co Ltd (002673) | $26.11 Billion | 4.28% | 1.45x | $4.70 Billion |
| Huaxi Securities Co Ltd Class A (002926) | $12.82 Billion | 7.95% | 2.94x | $3.35 Billion |
About Zheshang Securities Co Ltd
Zheshang Securities Co., Ltd. provides investment and financing products and services in China. It offers securities brokerage services, including investment consulting and diverse wealth management services and solutions for margin trading and short selling; investment banking services comprising personalized and full-range capital market advisory services; asset management services, such as man… Read more