Jiangsu Safety Wire Rope (603028) - Net Assets
Based on the latest financial reports, Jiangsu Safety Wire Rope (603028) has net assets worth CN¥419.59 Million CNY (≈ $61.40 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¥2.78 Billion ≈ $406.46 Million USD) and total liabilities (CN¥2.36 Billion ≈ $345.07 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 603028 asset resilience ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥419.59 Million |
| % of Total Assets | 15.11% |
| Annual Growth Rate | 3.98% |
| 5-Year Change | -41.36% |
| 10-Year Change | -1.43% |
| Growth Volatility | 22.65 |
Jiangsu Safety Wire Rope - Net Assets Trend (2011–2024)
This chart illustrates how Jiangsu Safety Wire Rope's net assets have evolved over time, based on quarterly financial data. Also explore Jiangsu Safety Wire Rope assets under control for the complete picture of this company's asset base.
Annual Net Assets for Jiangsu Safety Wire Rope (2011–2024)
The table below shows the annual net assets of Jiangsu Safety Wire Rope from 2011 to 2024. For live valuation and market cap data, see Jiangsu Safety Wire Rope (603028) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 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 grown by 100.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥90.12 Million | 17.63% |
| Common Stock | CN¥287.04 Million | 56.17% |
| Other Components | CN¥133.91 Million | 26.20% |
| Total Equity | CN¥511.06 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 |
|---|---|
|
TrueLight
TWO:3234
|
$361.74 Million |
|
Bpost NV
BR:BPOST
|
$362.00 Million |
|
Wei Long Grape Wine Co Ltd
SHG:603779
|
$362.03 Million |
|
Nantong Acetic Acid Chemical Co Ltd
SHG:603968
|
$362.05 Million |
|
Aldebaran Resources Inc
V:ALDE
|
$361.64 Million |
|
Shanghai KEN Tools Co Ltd
SHE:300126
|
$361.61 Million |
|
Hunan Dajiaweikang Pharmaceutical Industry Co.Ltd
SHE:301126
|
$361.59 Million |
|
Prudential plc
LSE:PRU
|
$361.48 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 2023 to 2024, total equity changed from 734,259,406 to 511,061,622, a change of -223,197,784 (-30.4%).
- Net loss of 189,126,240 reduced equity.
- Dividend payments of 40,178,343 reduced retained earnings.
- Share repurchases of 32,077,613 reduced equity.
- Other factors increased equity by 38,184,412.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-189.13 Million | -37.01% |
| Dividends Paid | CN¥40.18 Million | -7.86% |
| Share Repurchases | CN¥32.08 Million | -6.28% |
| Other Changes | CN¥38.18 Million | +7.47% |
| Total Change | CN¥- | -30.40% |
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: 4.83x
- 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 6.54x to 4.83x 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¥8.61 | x |
| 2012-12-31 | CN¥1.44 | CN¥8.61 | x |
| 2013-12-31 | CN¥1.66 | CN¥8.61 | x |
| 2014-12-31 | CN¥1.87 | CN¥8.61 | x |
| 2015-12-31 | CN¥2.12 | CN¥8.61 | x |
| 2016-12-31 | CN¥2.51 | CN¥8.61 | x |
| 2017-12-31 | CN¥2.42 | CN¥8.61 | x |
| 2018-12-31 | CN¥2.54 | CN¥8.61 | x |
| 2019-12-31 | CN¥2.47 | CN¥8.61 | x |
| 2020-12-31 | CN¥2.64 | CN¥8.61 | x |
| 2021-12-31 | CN¥2.82 | CN¥8.61 | x |
| 2022-12-31 | CN¥2.41 | CN¥8.61 | x |
| 2023-12-31 | CN¥2.54 | CN¥8.61 | x |
| 2024-12-31 | CN¥1.78 | CN¥8.61 | 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): -37.01%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -15.17%
- • Asset Turnover: 0.51x
- • Equity Multiplier: 4.78x
- Recent ROE (-37.01%) is below the historical average (3.31%), 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 | -11.62% | -9.98% | 0.66x | 1.77x | CN¥-147.76 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 |
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: $19,556,327,260
- Average return on equity (ROE) among peers: -4.79%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Jiangsu Safety Wire Rope (603028) | CN¥419.59 Million | 15.20% | 5.62x | $361.65 Million |
| CITIC Pacific Special Steel Group Co Ltd (000708) | $2.94 Billion | 7.43% | 0.45x | $11.44 Billion |
| HBIS Co Ltd (000709) | $47.66 Billion | 3.81% | 2.99x | $3.62 Billion |
| Sgis Songshan Co Ltd (000717) | $1.92 Billion | 9.47% | 0.30x | $883.17 Million |
| Bengang Steel Plates Co Ltd (000761) | $12.44 Billion | -26.48% | 2.57x | $1.58 Billion |
| Xinxing Ductile Iron Pipes Co Ltd (000778) | $28.48 Billion | 4.74% | 0.95x | $2.69 Billion |
| Shanxi Taigang Stainless Steel Co Ltd (000825) | $17.66 Billion | 24.06% | 2.27x | $3.61 Billion |
| Jiangsu Fasten Co Ltd (000890) | $89.23 Million | -118.72% | 10.72x | $963.77 Million |
| Angang Steel Co Ltd Class A (000898) | $53.10 Billion | 5.63% | 0.74x | $2.70 Billion |
| Hunan Valin Steel Co Ltd (000932) | $26.24 Billion | 28.12% | 1.87x | $4.63 Billion |
| Beijing Shougang Co Ltd (000959) | $5.04 Billion | 14.08% | 0.93x | $5.19 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