Huali Industries (603038) - Net Assets

Latest as of September 2025: CN¥1.63 Billion CNY ≈ $238.91 Million USD

Based on the latest financial reports, Huali Industries (603038) has net assets worth CN¥1.63 Billion CNY (≈ $238.91 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¥2.86 Billion ≈ $419.01 Million USD) and total liabilities (CN¥1.23 Billion ≈ $180.10 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 Huali Industries (603038) strategic asset index to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥1.63 Billion
% of Total Assets	57.02%
Annual Growth Rate	17.89%
5-Year Change	45.42%
10-Year Change	248.89%
Growth Volatility	19.68

Huali Industries - Net Assets Trend (2011–2024)

This chart illustrates how Huali Industries's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see 603038 company net worth.

Annual Net Assets for Huali Industries (2011–2024)

The table below shows the annual net assets of Huali Industries from 2011 to 2024. Also explore Huali Industries (603038) equity growth momentum to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2024-12-31	CN¥1.58 Billion ≈ $231.56 Million	+15.50%
2023-12-31	CN¥1.37 Billion ≈ $200.49 Million	+0.94%
2022-12-31	CN¥1.36 Billion ≈ $198.63 Million	+0.14%
2021-12-31	CN¥1.36 Billion ≈ $198.35 Million	+24.56%
2020-12-31	CN¥1.09 Billion ≈ $159.24 Million	-0.93%
2019-12-31	CN¥1.10 Billion ≈ $160.72 Million	+7.25%
2018-12-31	CN¥1.02 Billion ≈ $149.85 Million	+8.97%
2017-12-31	CN¥939.78 Million ≈ $137.52 Million	+77.50%
2016-12-31	CN¥529.46 Million ≈ $77.48 Million	+16.73%
2015-12-31	CN¥453.56 Million ≈ $66.37 Million	+18.13%
2014-12-31	CN¥383.96 Million ≈ $56.19 Million	+22.73%
2013-12-31	CN¥312.86 Million ≈ $45.78 Million	+27.82%
2012-12-31	CN¥244.77 Million ≈ $35.82 Million	+31.45%
2011-12-31	CN¥186.21 Million ≈ $27.25 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Huali Industries'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 424.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	CN¥641.07 Million	47.12%
Common Stock	CN¥268.68 Million	19.75%
Other Components	CN¥450.65 Million	33.13%
Total Equity	CN¥1.36 Billion	100.00%

Huali Industries Competitors by Market Cap

The table below lists competitors of Huali Industries ranked by their market capitalization.

Company	Market Cap
Root Inc NASDAQ:ROOT	$682.16 Million
Midland States Bancorp, Inc. NASDAQ:MSBI	$682.54 Million
Weikeng Industrial Co Ltd TW:3033	$682.67 Million
Bestsun Energy Co Ltd SHG:600681	$682.81 Million
Elec-Tech International Co Ltd SHE:002005	$682.12 Million
Chin Hung Int' KO:002780	$681.93 Million
Danel (Adir Yeoshua) Ltd TA:DANE	$681.74 Million
Turkiye Sinai Kalkinma Bankasi AS IS:TSKB	$681.69 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Huali Industries's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 1,346,416,365 to 1,360,395,563, a change of 13,979,198 (1.0%).
Net income of 23,101,276 contributed positively to equity growth.
Dividend payments of 29,461,972 reduced retained earnings.
Other factors increased equity by 20,339,894.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	CN¥23.10 Million	+1.7%
Dividends Paid	CN¥29.46 Million	-2.17%
Other Changes	CN¥20.34 Million	+1.5%
Total Change	CN¥-	1.04%

Book Value vs Market Value Analysis

This analysis compares Huali Industries'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: 3.27x
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 12.73x to 3.27x 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¥1.36	CN¥17.35	x
2012-12-31	CN¥1.78	CN¥17.35	x
2013-12-31	CN¥2.28	CN¥17.35	x
2014-12-31	CN¥2.80	CN¥17.35	x
2015-12-31	CN¥3.32	CN¥17.35	x
2016-12-31	CN¥3.86	CN¥17.35	x
2017-12-31	CN¥5.22	CN¥17.35	x
2018-12-31	CN¥5.49	CN¥17.35	x
2019-12-31	CN¥5.88	CN¥17.35	x
2020-12-31	CN¥5.88	CN¥17.35	x
2021-12-31	CN¥6.79	CN¥17.35	x
2022-12-31	CN¥6.46	CN¥17.35	x
2023-12-31	CN¥5.01	CN¥17.35	x
2024-12-31	CN¥5.30	CN¥17.35	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Huali Industries 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): 1.70%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 2.19%
• Asset Turnover: 0.36x
• Equity Multiplier: 2.14x
Recent ROE (1.70%) is below the historical average (11.52%), 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	27.54%	13.99%	1.19x	1.65x	CN¥32.66 Million
2012	24.16%	14.88%	0.99x	1.63x	CN¥34.66 Million
2013	21.77%	15.74%	0.96x	1.44x	CN¥36.81 Million
2014	18.59%	15.28%	0.82x	1.49x	CN¥32.98 Million
2015	15.38%	14.27%	0.74x	1.45x	CN¥24.42 Million
2016	18.70%	17.60%	0.73x	1.45x	CN¥46.05 Million
2017	9.67%	13.99%	0.57x	1.22x	CN¥-3.08 Million
2018	8.20%	11.00%	0.60x	1.25x	CN¥-18.23 Million
2019	8.67%	10.30%	0.64x	1.32x	CN¥-14.39 Million
2020	3.14%	3.92%	0.54x	1.48x	CN¥-74.24 Million
2021	1.62%	1.86%	0.57x	1.53x	CN¥-111.78 Million
2022	0.80%	1.38%	0.38x	1.52x	CN¥-122.82 Million
2023	1.38%	2.35%	0.39x	1.51x	CN¥-116.05 Million
2024	1.70%	2.19%	0.36x	2.14x	CN¥-112.94 Million

Industry Comparison

This section compares Huali Industries's net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.

Industry Context

Industry: Furnishings, Fixtures & Appliances
Average net assets among peers: $33,935,470,963
Average return on equity (ROE) among peers: 11.30%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Huali Industries (603038)	CN¥1.63 Billion	27.54%	0.75x	$682.13 Million
Midea Group Co Ltd (000333)	$174.30 Billion	19.35%	1.79x	$85.82 Billion
Changhong Meiling Co Ltd (000521)	$5.16 Billion	0.63%	2.10x	$571.58 Million
Gree Electric Appliances Inc of Zhuhai (000651)	$141.51 Billion	22.74%	1.60x	$31.61 Billion
Hisense Kelon Electrical Holdings Co Ltd (000921)	$3.24 Billion	17.80%	0.53x	$3.74 Billion
Suncha Technology Co Ltd (001211)	$330.46 Million	13.91%	1.01x	$378.71 Million
Elec-Tech International Co Ltd (002005)	$606.16 Million	-10.29%	2.03x	$682.12 Million
Zhejiang Supor Co Ltd (002032)	$7.66 Billion	25.38%	0.81x	$4.71 Billion
Vatti Corp Ltd (002035)	$3.82 Billion	12.68%	0.91x	$560.65 Million
CNlight Co Ltd (002076)	$1.05 Billion	5.32%	1.11x	$345.70 Million
Guangzhou Seagull Kitchen And Bath Products Co Ltd (002084)	$1.68 Billion	5.48%	0.46x	$525.63 Million

About Huali Industries

SHG:603038 China Furnishings, Fixtures & Appliances

Market Cap

$682.13 Million

CN¥4.66 Billion CNY

Market Cap Rank

#10792 Global

#2963 in China

Share Price

CN¥17.35

Change (1 day)

+2.36%

52-Week Range

CN¥11.47 - CN¥23.07

All Time High

CN¥137.66