Jiangsu Safety Wire Rope (603028) - Net Assets
Based on the latest financial reports, Jiangsu Safety Wire Rope (603028) has net assets worth CN¥352.16 Million CNY (≈ $51.53 Million 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¥2.52 Billion ≈ $368.77 Million USD) and total liabilities (CN¥2.17 Billion ≈ $317.24 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 tangible net worth ratio of Jiangsu Safety Wire Rope to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥352.16 Million |
| % of Total Assets | 13.97% |
| Annual Growth Rate | 2.24% |
| 5-Year Change | -55.03% |
| 10-Year Change | -46.05% |
| Growth Volatility | 22.75 |
Jiangsu Safety Wire Rope - Net Assets Trend (2011–2025)
This chart illustrates how Jiangsu Safety Wire Rope's net assets have evolved over time, based on quarterly financial data. See Jiangsu Safety Wire Rope defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Jiangsu Safety Wire Rope (2011–2025)
The table below shows the annual net assets of Jiangsu Safety Wire Rope from 2011 to 2025. For live valuation and market cap data, see Jiangsu Safety Wire Rope (603028) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥364.56 Million ≈ $53.35 Million |
-17.93% |
| 2024-12-31 | CN¥444.21 Million ≈ $65.00 Million |
-50.99% |
| 2023-12-31 | CN¥906.44 Million ≈ $132.64 Million |
+32.50% |
| 2022-12-31 | CN¥684.13 Million ≈ $100.11 Million |
-15.62% |
| 2021-12-31 | CN¥810.74 Million ≈ $118.64 Million |
+7.03% |
| 2020-12-31 | CN¥757.47 Million ≈ $110.84 Million |
+6.79% |
| 2019-12-31 | CN¥709.33 Million ≈ $103.80 Million |
+1.46% |
| 2018-12-31 | CN¥699.11 Million ≈ $102.30 Million |
+1.62% |
| 2017-12-31 | CN¥687.95 Million ≈ $100.67 Million |
+1.81% |
| 2016-12-31 | CN¥675.74 Million ≈ $98.88 Million |
+49.95% |
| 2015-12-31 | CN¥450.65 Million ≈ $65.94 Million |
+11.68% |
| 2014-12-31 | CN¥403.53 Million ≈ $59.05 Million |
+12.48% |
| 2013-12-31 | CN¥358.74 Million ≈ $52.50 Million |
+14.05% |
| 2012-12-31 | CN¥314.54 Million ≈ $46.03 Million |
+17.61% |
| 2011-12-31 | CN¥267.44 Million ≈ $39.13 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Jiangsu Safety Wire Rope'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 0.2% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥44.85 Million | 9.54% |
| Other Components | CN¥425.49 Million | 90.46% |
| Total Equity | CN¥470.34 Million | 100.00% |
Jiangsu Safety Wire Rope Competitors by Market Cap
The table below lists competitors of Jiangsu Safety Wire Rope ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Handsome
KO:020000
|
$312.93 Million |
|
Berjaya Land Bhd
KLSE:4219
|
$312.99 Million |
|
Danhua Chemical Technology Co Ltd A
SHG:600844
|
$313.02 Million |
|
K&F Growth Acquisition Corp. II Class A Ordinary shares
NASDAQ:KFII
|
$313.05 Million |
|
B&G Foods Inc
NYSE:BGS
|
$312.80 Million |
|
Easy Trip Planners Limited
NSE:EASEMYTRIP
|
$312.68 Million |
|
Nh Investment And Securities 1p
KO:005945
|
$312.68 Million |
|
Oceania Healthcare Ltd
AU:OCA
|
$312.59 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Jiangsu Safety Wire Rope's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 511,061,622 to 470,340,303, a change of -40,721,319 (-8.0%).
- Net loss of 44,887,013 reduced equity.
- Dividend payments of 31,551,430 reduced retained earnings.
- Other factors increased equity by 35,717,124.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-44.89 Million | -9.54% |
| Dividends Paid | CN¥31.55 Million | -6.71% |
| Other Changes | CN¥35.72 Million | +7.59% |
| Total Change | CN¥- | -7.97% |
Book Value vs Market Value Analysis
This analysis compares Jiangsu Safety Wire Rope'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: 4.55x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 5.66x to 4.55x 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¥1.32 | CN¥7.45 | x |
| 2012-12-31 | CN¥1.44 | CN¥7.45 | x |
| 2013-12-31 | CN¥1.67 | CN¥7.45 | x |
| 2014-12-31 | CN¥1.87 | CN¥7.45 | x |
| 2015-12-31 | CN¥2.12 | CN¥7.45 | x |
| 2016-12-31 | CN¥2.51 | CN¥7.45 | x |
| 2017-12-31 | CN¥2.42 | CN¥7.45 | x |
| 2018-12-31 | CN¥2.54 | CN¥7.45 | x |
| 2019-12-31 | CN¥2.66 | CN¥7.45 | x |
| 2020-12-31 | CN¥2.60 | CN¥7.45 | x |
| 2021-12-31 | CN¥3.13 | CN¥7.45 | x |
| 2022-12-31 | CN¥2.41 | CN¥7.45 | x |
| 2023-12-31 | CN¥2.54 | CN¥7.45 | x |
| 2024-12-31 | CN¥1.78 | CN¥7.45 | x |
| 2025-12-31 | CN¥1.64 | CN¥7.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Jiangsu Safety Wire Rope 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): -9.54%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -2.61%
- • Asset Turnover: 0.69x
- • Equity Multiplier: 5.29x
- Recent ROE (-9.54%) is below the historical average (2.45%), 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 | 15.20% | 7.87% | 0.85x | 2.28x | CN¥13.91 Million |
| 2012 | 14.97% | 8.53% | 0.91x | 1.93x | CN¥15.63 Million |
| 2013 | 12.47% | 7.37% | 0.95x | 1.79x | CN¥8.88 Million |
| 2014 | 11.09% | 7.42% | 0.83x | 1.80x | CN¥4.40 Million |
| 2015 | 10.16% | 8.35% | 0.72x | 1.70x | CN¥731.06K |
| 2016 | 4.61% | 6.00% | 0.59x | 1.31x | CN¥-36.45 Million |
| 2017 | 3.49% | 4.33% | 0.58x | 1.40x | CN¥-44.76 Million |
| 2018 | 2.42% | 3.09% | 0.57x | 1.38x | CN¥-53.00 Million |
| 2019 | 2.03% | 2.27% | 0.72x | 1.24x | CN¥-56.57 Million |
| 2020 | 7.10% | 7.16% | 0.64x | 1.54x | CN¥-21.97 Million |
| 2021 | 7.03% | 6.22% | 0.70x | 1.62x | CN¥-24.05 Million |
| 2022 | -11.63% | -9.99% | 0.66x | 1.77x | CN¥-147.83 Million |
| 2023 | 4.34% | 1.98% | 0.68x | 3.20x | CN¥-41.59 Million |
| 2024 | -37.01% | -15.17% | 0.51x | 4.78x | CN¥-240.23 Million |
| 2025 | -9.54% | -2.61% | 0.69x | 5.29x | CN¥-91.92 Million |
Industry Comparison
This section compares Jiangsu Safety Wire Rope's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $18,501,057,162
- Average return on equity (ROE) among peers: 9.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Jiangsu Safety Wire Rope (603028) | CN¥352.16 Million | 15.20% | 6.16x | $312.92 Million |
| CITIC Pacific Special Steel Group Co Ltd (000708) | $543.16 Million | 26.80% | 2.24x | $9.99 Billion |
| HBIS Co Ltd (000709) | $58.95 Billion | 6.15% | 2.54x | $3.12 Billion |
| Sgis Songshan Co Ltd (000717) | $6.75 Billion | -17.10% | 1.73x | $741.29 Million |
| Bengang Steel Plates Co Ltd (000761) | $16.04 Billion | 10.98% | 0.68x | $1.25 Billion |
| Xinxing Ductile Iron Pipes Co Ltd (000778) | $14.00 Billion | 9.04% | 1.87x | $2.34 Billion |
| Shanxi Taigang Stainless Steel Co Ltd (000825) | $17.68 Billion | 24.02% | 2.27x | $3.14 Billion |
| Jiangsu Fasten Co Ltd (000890) | $223.45 Million | 17.91% | 7.78x | $546.34 Million |
| Angang Steel Co Ltd Class A (000898) | $53.86 Billion | 3.67% | 0.63x | $2.33 Billion |
| Hunan Valin Steel Co Ltd (000932) | $11.05 Billion | 4.95% | 2.02x | $3.65 Billion |
| Beijing Shougang Co Ltd (000959) | $5.91 Billion | 8.07% | 1.86x | $3.68 Billion |
About Jiangsu Safety Wire Rope
Jiangsu Safety Group Co.,Ltd. engages in the research, development, production, and sales of wire ropes and rigging for elevators and cranes in China and internationally. The company offers elevator wire ropes, such as low-, mid-, and high-rise traction, as well as governor, compensating, and door closing ropes; and crane wire ropes, including rotation resistant, round strand, compacted strand, s… Read more