Shandong Linglong Tyre Co Ltd (601966) - Net Assets
Based on the latest financial reports, Shandong Linglong Tyre Co Ltd (601966) has net assets worth CN¥23.28 Billion CNY (≈ $3.41 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¥47.67 Billion ≈ $6.98 Billion USD) and total liabilities (CN¥24.40 Billion ≈ $3.57 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 Shandong Linglong Tyre Co Ltd's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥23.28 Billion |
| % of Total Assets | 48.82% |
| Annual Growth Rate | 18.38% |
| 5-Year Change | 31.33% |
| 10-Year Change | 396.46% |
| Growth Volatility | 22.62 |
Shandong Linglong Tyre Co Ltd - Net Assets Trend (2011–2024)
This chart illustrates how Shandong Linglong Tyre Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 601966 asset base for the complete picture of this company's asset base.
Annual Net Assets for Shandong Linglong Tyre Co Ltd (2011–2024)
The table below shows the annual net assets of Shandong Linglong Tyre Co Ltd from 2011 to 2024. For live valuation and market cap data, see 601966 company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥21.69 Billion ≈ $3.17 Billion |
+3.71% |
| 2023-12-31 | CN¥20.91 Billion ≈ $3.06 Billion |
+8.64% |
| 2022-12-31 | CN¥19.25 Billion ≈ $2.82 Billion |
+17.45% |
| 2021-12-31 | CN¥16.39 Billion ≈ $2.40 Billion |
-0.75% |
| 2020-12-31 | CN¥16.51 Billion ≈ $2.42 Billion |
+49.68% |
| 2019-12-31 | CN¥11.03 Billion ≈ $1.61 Billion |
+10.14% |
| 2018-12-31 | CN¥10.02 Billion ≈ $1.47 Billion |
+15.04% |
| 2017-12-31 | CN¥8.71 Billion ≈ $1.27 Billion |
+8.64% |
| 2016-12-31 | CN¥8.01 Billion ≈ $1.17 Billion |
+83.47% |
| 2015-12-31 | CN¥4.37 Billion ≈ $639.19 Million |
-3.87% |
| 2014-12-31 | CN¥4.54 Billion ≈ $664.93 Million |
+18.15% |
| 2013-12-31 | CN¥3.85 Billion ≈ $562.78 Million |
+28.70% |
| 2012-12-31 | CN¥2.99 Billion ≈ $437.28 Million |
+23.55% |
| 2011-12-31 | CN¥2.42 Billion ≈ $353.91 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Shandong Linglong Tyre 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 2280.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥10.33 Billion | 47.66% |
| Common Stock | CN¥1.46 Billion | 6.75% |
| Other Components | CN¥9.88 Billion | 45.59% |
| Total Equity | CN¥21.68 Billion | 100.00% |
Shandong Linglong Tyre Co Ltd Competitors by Market Cap
The table below lists competitors of Shandong Linglong Tyre Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Altarea SCA
PA:ALTA
|
$2.84 Billion |
|
Zhejiang Orient Holdings Co Ltd
SHG:600120
|
$2.84 Billion |
|
Upstart Holdings Inc
NASDAQ:UPST
|
$2.84 Billion |
|
AIR FRANCE-KLM ADR EO 85
F:FQZ
|
$2.84 Billion |
|
Schneider National Inc
NYSE:SNDR
|
$2.84 Billion |
|
Sportradar Group AG
NASDAQ:SRAD
|
$2.84 Billion |
|
Aperam SA
F:7AA
|
$2.84 Billion |
|
Trinity Industries Inc
NYSE:TRN
|
$2.84 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shandong Linglong Tyre Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 20,905,168,284 to 21,680,373,000, a change of 775,204,716 (3.7%).
- Net income of 1,752,351,636 contributed positively to equity growth.
- Dividend payments of 1,276,082,160 reduced retained earnings.
- Other factors increased equity by 298,935,240.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥1.75 Billion | +8.08% |
| Dividends Paid | CN¥1.28 Billion | -5.89% |
| Other Changes | CN¥298.94 Million | +1.38% |
| Total Change | CN¥- | 3.71% |
Book Value vs Market Value Analysis
This analysis compares Shandong Linglong Tyre 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: 0.89x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 5.55x to 0.89x 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¥2.39 | CN¥13.25 | x |
| 2012-12-31 | CN¥2.99 | CN¥13.25 | x |
| 2013-12-31 | CN¥3.85 | CN¥13.25 | x |
| 2014-12-31 | CN¥4.52 | CN¥13.25 | x |
| 2015-12-31 | CN¥4.38 | CN¥13.25 | x |
| 2016-12-31 | CN¥7.29 | CN¥13.25 | x |
| 2017-12-31 | CN¥7.22 | CN¥13.25 | x |
| 2018-12-31 | CN¥8.22 | CN¥13.25 | x |
| 2019-12-31 | CN¥9.06 | CN¥13.25 | x |
| 2020-12-31 | CN¥13.16 | CN¥13.25 | x |
| 2021-12-31 | CN¥12.05 | CN¥13.25 | x |
| 2022-12-31 | CN¥13.20 | CN¥13.25 | x |
| 2023-12-31 | CN¥14.28 | CN¥13.25 | x |
| 2024-12-31 | CN¥14.85 | CN¥13.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shandong Linglong Tyre 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): 8.08%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.94%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 2.17x
- Recent ROE (8.08%) is below the historical average (12.83%), 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 | 15.07% | 3.51% | 1.08x | 3.98x | CN¥122.70 Million |
| 2012 | 19.08% | 5.55% | 1.00x | 3.45x | CN¥271.33 Million |
| 2013 | 25.48% | 8.49% | 0.83x | 3.61x | CN¥595.42 Million |
| 2014 | 18.37% | 8.12% | 0.61x | 3.68x | CN¥380.11 Million |
| 2015 | 15.54% | 7.76% | 0.53x | 3.80x | CN¥241.46 Million |
| 2016 | 12.62% | 9.60% | 0.59x | 2.24x | CN¥209.46 Million |
| 2017 | 12.04% | 7.53% | 0.72x | 2.23x | CN¥177.82 Million |
| 2018 | 11.80% | 7.72% | 0.59x | 2.58x | CN¥180.46 Million |
| 2019 | 15.13% | 9.72% | 0.65x | 2.41x | CN¥565.37 Million |
| 2020 | 13.45% | 12.08% | 0.63x | 1.78x | CN¥569.79 Million |
| 2021 | 4.81% | 4.25% | 0.54x | 2.08x | CN¥-849.54 Million |
| 2022 | 1.52% | 1.71% | 0.45x | 1.94x | CN¥-1.63 Billion |
| 2023 | 6.65% | 6.90% | 0.47x | 2.07x | CN¥-699.84 Million |
| 2024 | 8.08% | 7.94% | 0.47x | 2.17x | CN¥-415.69 Million |
Industry Comparison
This section compares Shandong Linglong Tyre Co Ltd's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $1,591,014,487
- Average return on equity (ROE) among peers: 4.14%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shandong Linglong Tyre Co Ltd (601966) | CN¥23.28 Billion | 15.07% | 1.05x | $2.84 Billion |
| FAWER Automotive Parts Ltd Co (000030) | $-981.31 Million | 0.00% | 0.00x | $1.25 Billion |
| Wanxiang Qianchao Co Ltd (000559) | $4.12 Billion | 11.29% | 1.14x | $8.58 Billion |
| Weifu High-Technology Group Co Ltd (000581) | $1.12 Billion | 6.84% | 0.38x | $2.32 Billion |
| Gui Zhou Tyre Co Ltd (000589) | $1.20 Billion | 7.26% | 1.93x | $1.14 Billion |
| Qingdao Doublestar Co Ltd (000599) | $1.73 Billion | -20.59% | 4.27x | $707.54 Million |
| Hengli Industrial Development Group Co Ltd (000622) | $204.20 Million | 1.54% | 0.67x | $9.33 Million |
| Xiangyang Automobile Bearing Co Ltd (000678) | $1.29 Billion | 0.90% | 1.00x | $907.28 Million |
| Jiangnan Mould & Plastic Technology Co Ltd (000700) | $255.64 Million | 10.42% | 0.21x | $1.95 Billion |
| Sichuan Haowu Electromechanical Co Ltd (000757) | $341.13 Million | 10.15% | 0.30x | $381.97 Million |
| Anhui Zhongding Sealing Parts Co Ltd (000887) | $6.63 Billion | 13.60% | 0.79x | $3.58 Billion |
About Shandong Linglong Tyre Co Ltd
Shandong Linglong Tyre Co.,Ltd. designs, manufactures, develops, and sells tires in the People's Republic of China. It offers passenger light truck radial, bus radial, and off-highway tires. The company serves passenger cars, commercial, and construction machinery vehicles. It also exports its products to approximately 173 countries, such as Europe, the Middle East, the Americas, Africa, and the … Read more