Changbai Mountain Tourism Co Ltd (603099) - Net Assets
Based on the latest financial reports, Changbai Mountain Tourism Co Ltd (603099) has net assets worth CN¥1.53 Billion CNY (≈ $223.53 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¥1.82 Billion ≈ $265.87 Million USD) and total liabilities (CN¥289.34 Million ≈ $42.34 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 Changbai Mountain Tourism Co Ltd tangible equity quality to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.53 Billion |
| % of Total Assets | 84.08% |
| Annual Growth Rate | 12.5% |
| 5-Year Change | 57.76% |
| 10-Year Change | 69.05% |
| Growth Volatility | 19.69 |
Changbai Mountain Tourism Co Ltd - Net Assets Trend (2009–2025)
This chart illustrates how Changbai Mountain Tourism Co Ltd's net assets have evolved over time, based on quarterly financial data. See 603099 defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Changbai Mountain Tourism Co Ltd (2009–2025)
The table below shows the annual net assets of Changbai Mountain Tourism Co Ltd from 2009 to 2025. For live valuation and market cap data, see Changbai Mountain Tourism Co Ltd (603099) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥1.52 Billion ≈ $222.92 Million |
+31.10% |
| 2024-12-31 | CN¥1.16 Billion ≈ $170.04 Million |
+11.83% |
| 2023-12-31 | CN¥1.04 Billion ≈ $152.06 Million |
+14.67% |
| 2022-12-31 | CN¥906.20 Million ≈ $132.61 Million |
-6.15% |
| 2021-12-31 | CN¥965.63 Million ≈ $141.30 Million |
-5.05% |
| 2020-12-31 | CN¥1.02 Billion ≈ $148.82 Million |
-6.01% |
| 2019-12-31 | CN¥1.08 Billion ≈ $158.34 Million |
+7.02% |
| 2018-12-31 | CN¥1.01 Billion ≈ $147.95 Million |
+6.40% |
| 2017-12-31 | CN¥950.25 Million ≈ $139.05 Million |
+5.44% |
| 2016-12-31 | CN¥901.19 Million ≈ $131.87 Million |
+4.80% |
| 2015-12-31 | CN¥859.89 Million ≈ $125.83 Million |
+9.32% |
| 2014-12-31 | CN¥786.57 Million ≈ $115.10 Million |
+79.59% |
| 2013-12-31 | CN¥437.97 Million ≈ $64.09 Million |
+14.24% |
| 2012-12-31 | CN¥383.38 Million ≈ $56.10 Million |
+24.90% |
| 2011-12-31 | CN¥306.95 Million ≈ $44.92 Million |
+11.80% |
| 2010-12-31 | CN¥274.55 Million ≈ $40.18 Million |
+18.66% |
| 2009-12-31 | CN¥231.37 Million ≈ $33.86 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Changbai Mountain Tourism Co Ltd'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 317.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥613.28 Million | 40.98% |
| Common Stock | CN¥272.36 Million | 18.20% |
| Other Comprehensive Income | CN¥101.79 Million | 6.80% |
| Other Components | CN¥509.10 Million | 34.02% |
| Total Equity | CN¥1.50 Billion | 100.00% |
Changbai Mountain Tourism Co Ltd Competitors by Market Cap
The table below lists competitors of Changbai Mountain Tourism Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
YFY Inc
TW:1907
|
$1.42 Billion |
|
JiangXi Tianxin Pharm Co Ltd
SHG:603235
|
$1.42 Billion |
|
Opera Limited
F:2V8
|
$1.42 Billion |
|
Shenzhen Gongjin Electn
SHG:603118
|
$1.42 Billion |
|
Machvision Inc
TW:3563
|
$1.42 Billion |
|
Insperity Inc
NYSE:NSP
|
$1.42 Billion |
|
EFORT Intelligent Equipment Co Ltd
SHG:688165
|
$1.42 Billion |
|
Orange Belgium SA
BR:OBEL
|
$1.42 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Changbai Mountain Tourism Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,162,029,741 to 1,496,521,293, a change of 334,491,552 (28.8%).
- Net income of 129,347,677 contributed positively to equity growth.
- Dividend payments of 21,733,605 reduced retained earnings.
- Other comprehensive income increased equity by 7,486,457.
- Other factors increased equity by 219,391,023.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥129.35 Million | +8.64% |
| Dividends Paid | CN¥21.73 Million | -1.45% |
| Other Comprehensive Income | CN¥7.49 Million | +0.5% |
| Other Changes | CN¥219.39 Million | +14.66% |
| Total Change | CN¥- | 28.79% |
Book Value vs Market Value Analysis
This analysis compares Changbai Mountain Tourism Co Ltd'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: 6.43x
- 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 31.24x to 6.43x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | CN¥1.14 | CN¥35.70 | x |
| 2010-12-31 | CN¥1.36 | CN¥35.70 | x |
| 2011-12-31 | CN¥1.51 | CN¥35.70 | x |
| 2012-12-31 | CN¥1.92 | CN¥35.70 | x |
| 2013-12-31 | CN¥2.18 | CN¥35.70 | x |
| 2014-12-31 | CN¥3.55 | CN¥35.70 | x |
| 2015-12-31 | CN¥3.25 | CN¥35.70 | x |
| 2016-12-31 | CN¥3.42 | CN¥35.70 | x |
| 2017-12-31 | CN¥3.62 | CN¥35.70 | x |
| 2018-12-31 | CN¥3.74 | CN¥35.70 | x |
| 2019-12-31 | CN¥4.06 | CN¥35.70 | x |
| 2020-12-31 | CN¥3.81 | CN¥35.70 | x |
| 2021-12-31 | CN¥3.62 | CN¥35.70 | x |
| 2022-12-31 | CN¥3.40 | CN¥35.70 | x |
| 2023-12-31 | CN¥3.91 | CN¥35.70 | x |
| 2024-12-31 | CN¥4.35 | CN¥35.70 | x |
| 2025-12-31 | CN¥5.55 | CN¥35.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Changbai Mountain Tourism Co Ltd 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): 8.64%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.46%
- • Asset Turnover: 0.43x
- • Equity Multiplier: 1.23x
- Recent ROE (8.64%) is below the historical average (9.19%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 24.04% | 41.00% | 0.55x | 1.06x | CN¥32.50 Million |
| 2010 | 9.59% | 22.73% | 0.40x | 1.07x | CN¥-1.14 Million |
| 2011 | 21.17% | 30.22% | 0.57x | 1.23x | CN¥34.28 Million |
| 2012 | 19.27% | 29.56% | 0.58x | 1.13x | CN¥35.56 Million |
| 2013 | 14.21% | 26.70% | 0.49x | 1.09x | CN¥18.46 Million |
| 2014 | 10.13% | 27.21% | 0.35x | 1.06x | CN¥1.04 Million |
| 2015 | 11.69% | 31.57% | 0.35x | 1.05x | CN¥14.57 Million |
| 2016 | 7.89% | 23.17% | 0.28x | 1.24x | CN¥-19.01 Million |
| 2017 | 7.45% | 18.22% | 0.35x | 1.18x | CN¥-24.23 Million |
| 2018 | 6.69% | 14.57% | 0.37x | 1.25x | CN¥-33.48 Million |
| 2019 | 6.96% | 16.11% | 0.36x | 1.22x | CN¥-32.94 Million |
| 2020 | -5.49% | -37.80% | 0.12x | 1.19x | CN¥-157.49 Million |
| 2021 | -5.35% | -26.81% | 0.17x | 1.15x | CN¥-148.18 Million |
| 2022 | -6.33% | -29.48% | 0.18x | 1.18x | CN¥-148.01 Million |
| 2023 | 13.29% | 22.25% | 0.50x | 1.19x | CN¥34.15 Million |
| 2024 | 12.41% | 19.41% | 0.51x | 1.24x | CN¥28.05 Million |
| 2025 | 8.64% | 16.46% | 0.43x | 1.23x | CN¥-20.30 Million |
Industry Comparison
This section compares Changbai Mountain Tourism Co Ltd's net assets metrics with peer companies in the Travel Services industry.
Industry Context
- Industry: Travel Services
- Average net assets among peers: $577,202,894
- Average return on equity (ROE) among peers: 9.26%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Changbai Mountain Tourism Co Ltd (603099) | CN¥1.53 Billion | 24.04% | 0.19x | $1.42 Billion |
| Guangzhou Dongfang Hotel Co Ltd (000524) | $609.15 Million | 5.08% | 0.22x | $877.75 Million |
| Hna-Caissa Travel Group Co Ltd (000796) | $439.29 Million | 9.33% | 0.85x | $924.66 Million |
| Emei Shan Tourism Co Ltd (000888) | $55.18 Million | 51.72% | 0.75x | $709.36 Million |
| Wuhan Sante Cableway Group Co Ltd (002159) | $445.47 Million | 6.68% | 1.25x | $327.42 Million |
| Beijing Utour International Travel Service Co Ltd (002707) | $515.82 Million | 6.26% | 3.67x | $721.89 Million |
| Western Regions Tourism Development (300859) | $776.89 Million | 11.14% | 0.40x | $596.07 Million |
| XiAn Qujiang Cultural Tourism Co Ltd (600706) | $819.63 Million | -23.84% | 3.44x | $262.38 Million |
| Anhui Jiuhuashan Tourism Dvlp (603199) | $956.19 Million | 7.74% | 0.13x | $503.69 Million |
About Changbai Mountain Tourism Co Ltd
Changbai Mountain Tourism Co., Ltd. operates in the tourism industry in China. The company engages in tourist passenger transportation, hot spring development, hotel and travel agency management, scenic spot management, transportation operation, vacation services, business management consulting and operation, product planning and marketing, and other activities. Changbai Mountain Tourism Co., Ltd… Read more