Huali Industries (603038) - Net Assets
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 liquidity resilience to evaluate the company's liquid asset resilience ratio.
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. Also explore 603038 current and non-current assets for the complete picture of this company's asset base.
Annual Net Assets for Huali Industries (2011–2024)
The table below shows the annual net assets of Huali Industries from 2011 to 2024. For live valuation and market cap data, see Huali Industries (603038) market capitalisation.
| 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 |
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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 |
|---|---|
|
Laan & Spar Bank AS
CO:LASP
|
$665.33 Million |
|
Synektik S.A.
WAR:SNT
|
$665.71 Million |
|
Inventronics Hangzhou Inc
SHE:300582
|
$665.76 Million |
|
ZJBC Information Technology Co Ltd
SHE:000889
|
$665.86 Million |
|
LightPath Technologies Inc
NASDAQ:LPTH
|
$664.80 Million |
|
Shandong Sunway Petrochemical Engineering Co Ltd
SHE:002469
|
$664.64 Million |
|
China Wuyi Co Ltd
SHE:000797
|
$664.27 Million |
|
Shenzhen Longli Technology Co Ltd Class A
SHE:300752
|
$664.05 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: 3.19x
- 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 12.41x to 3.19x 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¥16.92 | x |
| 2012-12-31 | CN¥1.78 | CN¥16.92 | x |
| 2013-12-31 | CN¥2.28 | CN¥16.92 | x |
| 2014-12-31 | CN¥2.80 | CN¥16.92 | x |
| 2015-12-31 | CN¥3.32 | CN¥16.92 | x |
| 2016-12-31 | CN¥3.86 | CN¥16.92 | x |
| 2017-12-31 | CN¥5.22 | CN¥16.92 | x |
| 2018-12-31 | CN¥5.49 | CN¥16.92 | x |
| 2019-12-31 | CN¥5.88 | CN¥16.92 | x |
| 2020-12-31 | CN¥5.88 | CN¥16.92 | x |
| 2021-12-31 | CN¥6.79 | CN¥16.92 | x |
| 2022-12-31 | CN¥6.46 | CN¥16.92 | x |
| 2023-12-31 | CN¥5.01 | CN¥16.92 | x |
| 2024-12-31 | CN¥5.30 | CN¥16.92 | 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: $17,549,251,672
- Average return on equity (ROE) among peers: 11.21%
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 | $665.23 Million |
| Midea Group Co Ltd (000333) | $134.83 Billion | 21.19% | 1.88x | $81.80 Billion |
| Changhong Meiling Co Ltd (000521) | $6.19 Billion | 11.96% | 2.13x | $734.15 Million |
| Gree Electric Appliances Inc of Zhuhai (000651) | $7.73 Billion | 25.45% | 2.99x | $32.75 Billion |
| Hisense Kelon Electrical Holdings Co Ltd (000921) | $12.48 Billion | 14.37% | 1.72x | $3.28 Billion |
| Suncha Technology Co Ltd (001211) | $477.06 Million | 18.82% | 0.71x | $452.94 Million |
| Elec-Tech International Co Ltd (002005) | $6.45 Billion | -15.06% | 1.16x | $738.53 Million |
| Zhejiang Supor Co Ltd (002032) | $5.01 Billion | 17.75% | 0.48x | $5.54 Billion |
| Vatti Corp Ltd (002035) | $1.27 Billion | 17.60% | 0.86x | $736.79 Million |
| CNlight Co Ltd (002076) | $259.28 Million | -5.05% | 1.04x | $355.44 Million |
| Guangzhou Seagull Kitchen And Bath Products Co Ltd (002084) | $797.95 Million | 5.06% | 1.07x | $363.03 Million |
About Huali Industries
Dongguan Huali Industries Co.,Ltd researches and develops, designs, produces, and sells decorative composite materials in China and internationally. It offers Melamine edge-banding, ABS edge-banding, PVC edge-banding, 3D edge-banding, LASER / HOT AIR edge banding etc.; bumper strip, sealing strip, golden-silver line, skirting board, kitchen skirting, wave board, flooring profile, Roman column, do… Read more