Shenzhen Kinwong Electronic Co Ltd (603228) - Net Assets
Based on the latest financial reports, Shenzhen Kinwong Electronic Co Ltd (603228) has net assets worth CN¥12.96 Billion CNY (≈ $1.90 Billion 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¥22.76 Billion ≈ $3.33 Billion USD) and total liabilities (CN¥9.80 Billion ≈ $1.43 Billion 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 Shenzhen Kinwong Electronic Co Ltd liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥12.96 Billion |
| % of Total Assets | 56.95% |
| Annual Growth Rate | 33.02% |
| 5-Year Change | 70.16% |
| 10-Year Change | 739.52% |
| Growth Volatility | 27.18 |
Shenzhen Kinwong Electronic Co Ltd - Net Assets Trend (2011–2024)
This chart illustrates how Shenzhen Kinwong Electronic Co Ltd's net assets have evolved over time, based on quarterly financial data. Also explore Shenzhen Kinwong Electronic Co Ltd assets under control for the complete picture of this company's asset base.
Annual Net Assets for Shenzhen Kinwong Electronic Co Ltd (2011–2024)
The table below shows the annual net assets of Shenzhen Kinwong Electronic Co Ltd from 2011 to 2024. For live valuation and market cap data, see 603228 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥11.50 Billion ≈ $1.68 Billion |
+28.18% |
| 2023-12-31 | CN¥8.97 Billion ≈ $1.31 Billion |
+8.20% |
| 2022-12-31 | CN¥8.29 Billion ≈ $1.21 Billion |
+10.82% |
| 2021-12-31 | CN¥7.48 Billion ≈ $1.09 Billion |
+10.72% |
| 2020-12-31 | CN¥6.76 Billion ≈ $988.74 Million |
+20.04% |
| 2019-12-31 | CN¥5.63 Billion ≈ $823.65 Million |
+27.73% |
| 2018-12-31 | CN¥4.41 Billion ≈ $644.85 Million |
+34.50% |
| 2017-12-31 | CN¥3.28 Billion ≈ $479.45 Million |
+14.50% |
| 2016-12-31 | CN¥2.86 Billion ≈ $418.73 Million |
+108.94% |
| 2015-12-31 | CN¥1.37 Billion ≈ $200.41 Million |
+43.50% |
| 2014-12-31 | CN¥954.43 Million ≈ $139.66 Million |
+30.01% |
| 2013-12-31 | CN¥734.12 Million ≈ $107.42 Million |
+60.28% |
| 2012-12-31 | CN¥458.02 Million ≈ $67.02 Million |
+62.67% |
| 2011-12-31 | CN¥281.56 Million ≈ $41.20 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Shenzhen Kinwong Electronic 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 4260.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥6.04 Billion | 53.40% |
| Common Stock | CN¥932.53 Million | 8.24% |
| Other Components | CN¥4.34 Billion | 38.36% |
| Total Equity | CN¥11.31 Billion | 100.00% |
Shenzhen Kinwong Electronic Co Ltd Competitors by Market Cap
The table below lists competitors of Shenzhen Kinwong Electronic Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Anhui Tongguan Copper Foil Group Co. Ltd.
SHE:301217
|
$10.74 Billion |
|
Sonova H Ag
SW:SOON
|
$10.75 Billion |
|
TURKIYE GARANTI BANKASI AS
F:GBKB
|
$10.75 Billion |
|
Alcoa Corp
NYSE:AA
|
$10.77 Billion |
|
Camden Property Trust
NYSE:CPT
|
$10.73 Billion |
|
Antero Resources Corp
NYSE:AR
|
$10.72 Billion |
|
Ningbo Zhoushan Port Co Ltd
SHG:601018
|
$10.70 Billion |
|
Sitime Corporation
NASDAQ:SITM
|
$10.70 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shenzhen Kinwong Electronic Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 8,777,369,212 to 11,313,673,268, a change of 2,536,304,056 (28.9%).
- Net income of 1,169,026,280 contributed positively to equity growth.
- Dividend payments of 446,513,377 reduced retained earnings.
- Share repurchases of 6,941,092 reduced equity.
- Other factors increased equity by 1,820,732,245.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥1.17 Billion | +10.33% |
| Dividends Paid | CN¥446.51 Million | -3.95% |
| Share Repurchases | CN¥6.94 Million | -0.06% |
| Other Changes | CN¥1.82 Billion | +16.09% |
| Total Change | CN¥- | 28.90% |
Book Value vs Market Value Analysis
This analysis compares Shenzhen Kinwong Electronic 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: 5.74x
- 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 225.35x to 5.74x 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¥0.33 | CN¥74.50 | x |
| 2012-12-31 | CN¥0.54 | CN¥74.50 | x |
| 2013-12-31 | CN¥1.02 | CN¥74.50 | x |
| 2014-12-31 | CN¥1.34 | CN¥74.50 | x |
| 2015-12-31 | CN¥1.94 | CN¥74.50 | x |
| 2016-12-31 | CN¥4.05 | CN¥74.50 | x |
| 2017-12-31 | CN¥4.10 | CN¥74.50 | x |
| 2018-12-31 | CN¥5.20 | CN¥74.50 | x |
| 2019-12-31 | CN¥6.61 | CN¥74.50 | x |
| 2020-12-31 | CN¥7.79 | CN¥74.50 | x |
| 2021-12-31 | CN¥8.64 | CN¥74.50 | x |
| 2022-12-31 | CN¥9.62 | CN¥74.50 | x |
| 2023-12-31 | CN¥10.41 | CN¥74.50 | x |
| 2024-12-31 | CN¥12.97 | CN¥74.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shenzhen Kinwong Electronic 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): 10.33%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.23%
- • Asset Turnover: 0.66x
- • Equity Multiplier: 1.70x
- Recent ROE (10.33%) is below the historical average (22.26%), 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 | 36.73% | 8.88% | 1.10x | 3.76x | CN¥75.26 Million |
| 2012 | 38.31% | 12.53% | 1.06x | 2.89x | CN¥129.68 Million |
| 2013 | 36.60% | 15.02% | 1.02x | 2.40x | CN¥192.15 Million |
| 2014 | 34.35% | 14.55% | 0.98x | 2.41x | CN¥230.78 Million |
| 2015 | 30.85% | 15.78% | 1.00x | 1.96x | CN¥285.50 Million |
| 2016 | 18.78% | 16.37% | 0.76x | 1.52x | CN¥251.31 Million |
| 2017 | 20.14% | 15.74% | 0.88x | 1.46x | CN¥332.09 Million |
| 2018 | 19.37% | 16.10% | 0.65x | 1.85x | CN¥388.36 Million |
| 2019 | 15.43% | 13.22% | 0.72x | 1.63x | CN¥294.60 Million |
| 2020 | 14.06% | 13.04% | 0.58x | 1.85x | CN¥266.05 Million |
| 2021 | 12.85% | 9.81% | 0.66x | 1.97x | CN¥207.44 Million |
| 2022 | 13.20% | 10.14% | 0.68x | 1.92x | CN¥258.60 Million |
| 2023 | 10.67% | 8.70% | 0.62x | 1.96x | CN¥58.51 Million |
| 2024 | 10.33% | 9.23% | 0.66x | 1.70x | CN¥37.66 Million |
Industry Comparison
This section compares Shenzhen Kinwong Electronic Co Ltd's net assets metrics with peer companies in the Electronic Components industry.
Industry Context
- Industry: Electronic Components
- Average net assets among peers: $22,207,061,921
- Average return on equity (ROE) among peers: 2.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shenzhen Kinwong Electronic Co Ltd (603228) | CN¥12.96 Billion | 36.73% | 0.76x | $10.74 Billion |
| Shenzhen Zhongheng Huafa Co Ltd Class A (000020) | $412.50 Million | -16.79% | 0.29x | $382.28 Million |
| Shenzhen Desay Battery Technology Co Ltd (000049) | $217.50 Million | 13.85% | 1.05x | $1.61 Billion |
| Shenzhen Huakong Seg Co Ltd (000068) | $936.36 Million | -14.92% | 2.68x | $484.64 Million |
| CPT Technology Group Co Ltd (000536) | $5.57 Billion | 10.98% | 1.18x | $1.67 Billion |
| Guangdong Fenghua Advanced Technology Holding Co Ltd (000636) | $2.08 Billion | 2.04% | 0.58x | $4.38 Billion |
| Xiamen Xindeco Ltd (000701) | $796.35 Million | 5.67% | 2.04x | $608.18 Million |
| BOE Technology Group Co Ltd (000725) | $204.55 Billion | 2.60% | 1.10x | $22.18 Billion |
| China Zhenhua Group Science & Technology Co Ltd (000733) | $5.38 Billion | 5.53% | 0.63x | $3.62 Billion |
| Beijing Zhong Ke San Huan High-Tech Co Ltd (000970) | $884.58 Million | 12.98% | 0.75x | $2.19 Billion |
| Guizhou Space Appliance Co Ltd (002025) | $1.25 Billion | 7.05% | 0.10x | $5.04 Billion |
About Shenzhen Kinwong Electronic Co Ltd
Shenzhen Kinwong Electronic Co., Ltd. engages in research, development, production, and sale of printed circuit boards (PCB) and electronic materials in China and internationally. The company offers conventional PCBs, including single-layer, double-layer, and multi-layer PCBs; metal-based PCBs that comprise copper, aluminum, stainless steel, and iron; flexible PCBs, such as single and double side… Read more