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¥13.51 Billion CNY (≈ $1.98 Billion 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¥25.38 Billion ≈ $3.71 Billion USD) and total liabilities (CN¥11.87 Billion ≈ $1.74 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. Also explore 603228 total assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥13.51 Billion |
| % of Total Assets | 53.23% |
| Annual Growth Rate | 31.96% |
| 5-Year Change | 82.77% |
| 10-Year Change | 377.83% |
| Growth Volatility | 26.53 |
Shenzhen Kinwong Electronic Co Ltd - Net Assets Trend (2011–2025)
This chart illustrates how Shenzhen Kinwong Electronic Co Ltd's net assets have evolved over time, based on quarterly financial data. Check 603228 tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Shenzhen Kinwong Electronic Co Ltd (2011–2025)
The table below shows the annual net assets of Shenzhen Kinwong Electronic Co Ltd from 2011 to 2025. For live valuation and market cap data, see 603228 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥13.67 Billion ≈ $2.00 Billion |
+18.92% |
| 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 |
-- |
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 4525.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥6.41 Billion | 49.02% |
| Common Stock | CN¥984.81 Million | 7.53% |
| Other Comprehensive Income | CN¥614.71 Million | 4.70% |
| Other Components | CN¥5.07 Billion | 38.75% |
| Total Equity | CN¥13.07 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 |
|---|---|
|
Insulet Corporation
NASDAQ:PODD
|
$10.68 Billion |
|
Taiwan Mobile Co Ltd
TW:3045
|
$10.69 Billion |
|
Strabag SE
VI:STR
|
$10.70 Billion |
|
Encompass Health Corp
NYSE:EHC
|
$10.72 Billion |
|
XPENG INC. CL.A DL-00001
F:8XP
|
$10.63 Billion |
|
BrightSpring Health Services, Inc. Common Stock
NASDAQ:BTSG
|
$10.63 Billion |
|
XPENG INC. SP.ADS/2 CL.A
F:8XPA
|
$10.62 Billion |
|
China Spacesat Co Ltd
SHG:600118
|
$10.61 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 2024 to 2025, total equity changed from 11,313,673,268 to 13,072,711,240, a change of 1,759,037,972 (15.5%).
- Net income of 1,230,969,813 contributed positively to equity growth.
- Dividend payments of 780,156,799 reduced retained earnings.
- Share repurchases of 192,833,104 reduced equity.
- Other comprehensive income increased equity by 614,714,054.
- Other factors increased equity by 886,344,008.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥1.23 Billion | +9.42% |
| Dividends Paid | CN¥780.16 Million | -5.97% |
| Share Repurchases | CN¥192.83 Million | -1.48% |
| Other Comprehensive Income | CN¥614.71 Million | +4.7% |
| Other Changes | CN¥886.34 Million | +6.78% |
| Total Change | CN¥- | 15.55% |
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: 5.43x
- 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 223.41x to 5.43x 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¥73.86 | x |
| 2012-12-31 | CN¥0.54 | CN¥73.86 | x |
| 2013-12-31 | CN¥1.02 | CN¥73.86 | x |
| 2014-12-31 | CN¥1.34 | CN¥73.86 | x |
| 2015-12-31 | CN¥1.94 | CN¥73.86 | x |
| 2016-12-31 | CN¥4.05 | CN¥73.86 | x |
| 2017-12-31 | CN¥4.10 | CN¥73.86 | x |
| 2018-12-31 | CN¥5.20 | CN¥73.86 | x |
| 2019-12-31 | CN¥6.61 | CN¥73.86 | x |
| 2020-12-31 | CN¥7.79 | CN¥73.86 | x |
| 2021-12-31 | CN¥8.64 | CN¥73.86 | x |
| 2022-12-31 | CN¥9.62 | CN¥73.86 | x |
| 2023-12-31 | CN¥10.41 | CN¥73.86 | x |
| 2024-12-31 | CN¥12.97 | CN¥73.86 | x |
| 2025-12-31 | CN¥13.59 | CN¥73.86 | 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): 9.42%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.04%
- • Asset Turnover: 0.64x
- • Equity Multiplier: 1.82x
- Recent ROE (9.42%) is below the historical average (21.41%), 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 |
| 2025 | 9.42% | 8.04% | 0.64x | 1.82x | CN¥-76.30 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: $20,143,014,268
- Average return on equity (ROE) among peers: 13.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shenzhen Kinwong Electronic Co Ltd (603228) | CN¥13.51 Billion | 36.73% | 0.88x | $10.64 Billion |
| Shenzhen Zhongheng Huafa Co Ltd Class A (000020) | $232.24 Million | -19.09% | 0.85x | $259.00 Million |
| Shenzhen Desay Battery Technology Co Ltd (000049) | $918.48 Million | 25.54% | 4.09x | $1.36 Billion |
| Shenzhen Huakong Seg Co Ltd (000068) | $574.21 Million | 35.78% | 2.25x | $375.63 Million |
| CPT Technology Group Co Ltd (000536) | $37.48 Million | 52.37% | 3.78x | $1.23 Billion |
| Guangdong Fenghua Advanced Technology Holding Co Ltd (000636) | $4.57 Billion | 3.04% | 0.46x | $7.50 Billion |
| Xiamen Xindeco Ltd (000701) | $524.39 Million | 2.71% | 1.74x | $434.14 Million |
| BOE Technology Group Co Ltd (000725) | $173.40 Billion | 2.90% | 1.45x | $33.57 Billion |
| China Zhenhua Group Science & Technology Co Ltd (000733) | $14.35 Billion | 18.69% | 0.25x | $3.24 Billion |
| Beijing Zhong Ke San Huan High-Tech Co Ltd (000970) | $4.84 Billion | 6.54% | 0.15x | $2.26 Billion |
| Guizhou Space Appliance Co Ltd (002025) | $1.98 Billion | 8.85% | 0.25x | $4.46 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