Apple Flavor&Fragrance Grp (603020) - Net Assets
Based on the latest financial reports, Apple Flavor&Fragrance Grp (603020) has net assets worth CN¥3.45 Billion CNY (≈ $505.11 Million 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¥3.71 Billion ≈ $542.63 Million USD) and total liabilities (CN¥256.39 Million ≈ $37.52 Million 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 Apple Flavor&Fragrance Grp (603020) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥3.45 Billion |
| % of Total Assets | 93.09% |
| Annual Growth Rate | 15.34% |
| 5-Year Change | 40.19% |
| 10-Year Change | 91.08% |
| Growth Volatility | 26.05 |
Apple Flavor&Fragrance Grp - Net Assets Trend (2011–2024)
This chart illustrates how Apple Flavor&Fragrance Grp's net assets have evolved over time, based on quarterly financial data. Also explore Apple Flavor&Fragrance Grp balance sheet assets for the complete picture of this company's asset base.
Annual Net Assets for Apple Flavor&Fragrance Grp (2011–2024)
The table below shows the annual net assets of Apple Flavor&Fragrance Grp from 2011 to 2024. For live valuation and market cap data, see 603020 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥3.40 Billion ≈ $497.63 Million |
+0.35% |
| 2023-12-31 | CN¥3.39 Billion ≈ $495.90 Million |
+2.18% |
| 2022-12-31 | CN¥3.32 Billion ≈ $485.30 Million |
-1.12% |
| 2021-12-31 | CN¥3.35 Billion ≈ $490.78 Million |
+38.26% |
| 2020-12-31 | CN¥2.43 Billion ≈ $354.96 Million |
+5.82% |
| 2019-12-31 | CN¥2.29 Billion ≈ $335.43 Million |
+6.18% |
| 2018-12-31 | CN¥2.16 Billion ≈ $315.90 Million |
+9.13% |
| 2017-12-31 | CN¥1.98 Billion ≈ $289.46 Million |
+3.49% |
| 2016-12-31 | CN¥1.91 Billion ≈ $279.70 Million |
+7.40% |
| 2015-12-31 | CN¥1.78 Billion ≈ $260.43 Million |
+100.25% |
| 2014-12-31 | CN¥888.74 Million ≈ $130.05 Million |
+14.49% |
| 2013-12-31 | CN¥776.28 Million ≈ $113.59 Million |
+19.61% |
| 2012-12-31 | CN¥649.01 Million ≈ $94.97 Million |
+22.03% |
| 2011-12-31 | CN¥531.86 Million ≈ $77.83 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Apple Flavor&Fragrance Grp'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 815.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥1.27 Billion | 39.03% |
| Common Stock | CN¥383.24 Million | 11.75% |
| Other Comprehensive Income | CN¥190.41 Million | 5.84% |
| Other Components | CN¥1.42 Billion | 43.38% |
| Total Equity | CN¥3.26 Billion | 100.00% |
Apple Flavor&Fragrance Grp Competitors by Market Cap
The table below lists competitors of Apple Flavor&Fragrance Grp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai HiTech Control System
SHE:002184
|
$614.34 Million |
|
MarineMax Inc
NYSE:HZO
|
$614.34 Million |
|
SurModics Inc
NASDAQ:SRDX
|
$614.51 Million |
|
Cheng Loong Corp
TW:1904
|
$614.53 Million |
|
Hangzhou Flariant Co Ltd
SHG:605566
|
$614.04 Million |
|
Basellandschaftliche Kantonalbank
SW:BLKB
|
$613.95 Million |
|
SunCoke Energy Inc
NYSE:SXC
|
$613.82 Million |
|
Shanghai Yanhua Smartech Group
SHE:002178
|
$613.80 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Apple Flavor&Fragrance Grp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,139,761,885 to 3,261,815,914, a change of 122,054,029 (3.9%).
- Net income of 159,076,325 contributed positively to equity growth.
- Dividend payments of 40,346,402 reduced retained earnings.
- Other comprehensive income increased equity by 190,410,654.
- Other factors decreased equity by 187,086,548.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥159.08 Million | +4.88% |
| Dividends Paid | CN¥40.35 Million | -1.24% |
| Other Comprehensive Income | CN¥190.41 Million | +5.84% |
| Other Changes | CN¥-187.09 Million | -5.74% |
| Total Change | CN¥- | 3.89% |
Book Value vs Market Value Analysis
This analysis compares Apple Flavor&Fragrance Grp'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: 1.26x
- 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 5.03x to 1.26x 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¥2.18 | CN¥10.95 | x |
| 2012-12-31 | CN¥2.66 | CN¥10.95 | x |
| 2013-12-31 | CN¥3.18 | CN¥10.95 | x |
| 2014-12-31 | CN¥3.65 | CN¥10.95 | x |
| 2015-12-31 | CN¥5.88 | CN¥10.95 | x |
| 2016-12-31 | CN¥5.71 | CN¥10.95 | x |
| 2017-12-31 | CN¥5.93 | CN¥10.95 | x |
| 2018-12-31 | CN¥6.21 | CN¥10.95 | x |
| 2019-12-31 | CN¥6.58 | CN¥10.95 | x |
| 2020-12-31 | CN¥6.95 | CN¥10.95 | x |
| 2021-12-31 | CN¥9.36 | CN¥10.95 | x |
| 2022-12-31 | CN¥8.07 | CN¥10.95 | x |
| 2023-12-31 | CN¥8.36 | CN¥10.95 | x |
| 2024-12-31 | CN¥8.68 | CN¥10.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Apple Flavor&Fragrance Grp 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): 4.88%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 5.93%
- • Asset Turnover: 0.74x
- • Equity Multiplier: 1.12x
- Recent ROE (4.88%) is below the historical average (10.21%), 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 | 21.02% | 8.80% | 1.51x | 1.58x | CN¥57.58 Million |
| 2012 | 18.14% | 8.77% | 1.54x | 1.34x | CN¥51.98 Million |
| 2013 | 19.65% | 10.20% | 1.45x | 1.33x | CN¥73.76 Million |
| 2014 | 17.64% | 9.32% | 1.49x | 1.27x | CN¥67.01 Million |
| 2015 | 10.11% | 9.75% | 0.89x | 1.16x | CN¥1.94 Million |
| 2016 | 10.43% | 8.36% | 1.06x | 1.17x | CN¥7.95 Million |
| 2017 | 7.59% | 6.20% | 1.05x | 1.16x | CN¥-45.69 Million |
| 2018 | 5.54% | 4.41% | 1.04x | 1.21x | CN¥-88.53 Million |
| 2019 | 7.21% | 6.13% | 0.94x | 1.25x | CN¥-58.72 Million |
| 2020 | 7.66% | 6.38% | 0.96x | 1.26x | CN¥-52.11 Million |
| 2021 | 6.55% | 6.06% | 0.87x | 1.25x | CN¥-106.62 Million |
| 2022 | 3.58% | 3.44% | 0.83x | 1.26x | CN¥-196.88 Million |
| 2023 | 2.89% | 3.26% | 0.73x | 1.22x | CN¥-223.21 Million |
| 2024 | 4.88% | 5.93% | 0.74x | 1.12x | CN¥-167.11 Million |
Industry Comparison
This section compares Apple Flavor&Fragrance Grp's net assets metrics with peer companies in the Specialty Chemicals industry.
Industry Context
- Industry: Specialty Chemicals
- Average net assets among peers: $757,076,135
- Average return on equity (ROE) among peers: 17.07%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Apple Flavor&Fragrance Grp (603020) | CN¥3.45 Billion | 21.02% | 0.07x | $614.07 Million |
| Chongqing Sanxia Paints Co Ltd (000565) | $132.89 Million | 13.77% | 0.98x | $508.22 Million |
| Hengyi Petrochemical Co Ltd (000703) | $187.55 Million | -10.77% | 0.62x | $9.61 Billion |
| Guangdong Xinhui Meida Nylon Co Ltd (000782) | $1.24 Billion | 2.83% | 1.13x | $754.52 Million |
| Luxi Chemical Group Co Ltd (000830) | $2.59 Billion | 8.19% | 3.36x | $4.71 Billion |
| China Minmetals Rare Earth Co Ltd (000831) | $92.67 Million | 58.60% | 2.88x | $8.64 Billion |
| Anhui Guofeng Plastic Industry Co Ltd (000859) | $158.61 Million | 29.32% | 1.96x | $1.21 Billion |
| Cofco Biochemical Anhui Co Ltd (000930) | $98.99 Million | 29.63% | 2.11x | $1.62 Billion |
| Shandong Link Science and Technology Co Ltd (001207) | $1.77 Billion | 9.55% | 0.33x | $583.32 Million |
| Zhejiang Transfar Co Ltd (002010) | $516.04 Million | 15.39% | 0.20x | $2.36 Billion |
| Poly Union Chemical Holding Group Co Ltd (002037) | $790.80 Million | 14.23% | 1.34x | $604.70 Million |
About Apple Flavor&Fragrance Grp
Apple Flavor & Fragrance Group Co.,Ltd., together with its subsidiaries, engages in the manufacture and sale of flavors, fragrances, and food ingredients in China. It offers food flavors, including dairy, ice cream, beverage, confectionery, savory, bakery, and snack related flavors, as well as fragrances for perfumes, personal care, oral care, home care, and candle and air care products. The comp… Read more