Zhejiang Meilun Elevator Co Ltd (603321) - Net Assets
Based on the latest financial reports, Zhejiang Meilun Elevator Co Ltd (603321) has net assets worth CN¥1.48 Billion CNY (≈ $216.92 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¥2.10 Billion ≈ $306.84 Million USD) and total liabilities (CN¥614.49 Million ≈ $89.92 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 Zhejiang Meilun Elevator Co Ltd tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.48 Billion |
| % of Total Assets | 70.69% |
| Annual Growth Rate | 16.19% |
| 5-Year Change | 14.47% |
| 10-Year Change | 201.19% |
| Growth Volatility | 28.09 |
Zhejiang Meilun Elevator Co Ltd - Net Assets Trend (2013–2024)
This chart illustrates how Zhejiang Meilun Elevator Co Ltd's net assets have evolved over time, based on quarterly financial data. See operational self-sufficiency of Zhejiang Meilun Elevator Co Ltd to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Zhejiang Meilun Elevator Co Ltd (2013–2024)
The table below shows the annual net assets of Zhejiang Meilun Elevator Co Ltd from 2013 to 2024. For live valuation and market cap data, see 603321 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥1.26 Billion ≈ $184.33 Million |
+5.22% |
| 2023-12-31 | CN¥1.20 Billion ≈ $175.18 Million |
+4.70% |
| 2022-12-31 | CN¥1.14 Billion ≈ $167.31 Million |
+2.24% |
| 2021-12-31 | CN¥1.12 Billion ≈ $163.64 Million |
+1.62% |
| 2020-12-31 | CN¥1.10 Billion ≈ $161.03 Million |
+4.05% |
| 2019-12-31 | CN¥1.06 Billion ≈ $154.77 Million |
+3.10% |
| 2018-12-31 | CN¥1.03 Billion ≈ $150.11 Million |
+2.16% |
| 2017-12-31 | CN¥1.00 Billion ≈ $146.94 Million |
+99.87% |
| 2016-12-31 | CN¥502.41 Million ≈ $73.52 Million |
+20.13% |
| 2015-12-31 | CN¥418.22 Million ≈ $61.20 Million |
+25.39% |
| 2014-12-31 | CN¥333.54 Million ≈ $48.81 Million |
+38.03% |
| 2013-12-31 | CN¥241.65 Million ≈ $35.36 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Zhejiang Meilun Elevator 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 333.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥525.90 Million | 42.74% |
| Common Stock | CN¥307.00 Million | 24.95% |
| Other Comprehensive Income | CN¥115.19 Million | 9.36% |
| Other Components | CN¥282.32 Million | 22.95% |
| Total Equity | CN¥1.23 Billion | 100.00% |
Zhejiang Meilun Elevator Co Ltd Competitors by Market Cap
The table below lists competitors of Zhejiang Meilun Elevator Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ratos AB (publ)
ST:RATO-A
|
$307.86 Million |
|
Timberland Bancorp Inc
NASDAQ:TSBK
|
$307.88 Million |
|
Ive Group Ltd
AU:IGL
|
$307.88 Million |
|
Fortune Ng Fung Food Hebei Co Ltd
SHG:600965
|
$307.89 Million |
|
Glarner Kantonalbank
SW:GLKBN
|
$307.80 Million |
|
Best Pacific International Holdings Limited
F:NWQ
|
$307.78 Million |
|
Prudential plc
LSE:PRU
|
$307.73 Million |
|
Oneconnect Financial Technology Co
NYSE:OCFT
|
$307.70 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Zhejiang Meilun Elevator Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,194,082,751 to 1,230,397,510, a change of 36,314,759 (3.0%).
- Net income of 134,446,356 contributed positively to equity growth.
- Dividend payments of 45,620,484 reduced retained earnings.
- Share repurchases of 47,715,935 reduced equity.
- Other comprehensive income increased equity by 15,200,851.
- Other factors decreased equity by 19,996,029.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥134.45 Million | +10.93% |
| Dividends Paid | CN¥45.62 Million | -3.71% |
| Share Repurchases | CN¥47.72 Million | -3.88% |
| Other Comprehensive Income | CN¥15.20 Million | +1.24% |
| Other Changes | CN¥-20.00 Million | -1.63% |
| Total Change | CN¥- | 3.04% |
Book Value vs Market Value Analysis
This analysis compares Zhejiang Meilun Elevator 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: 1.46x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5.81x to 1.46x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | CN¥1.04 | CN¥6.03 | x |
| 2014-12-31 | CN¥1.43 | CN¥6.03 | x |
| 2015-12-31 | CN¥1.83 | CN¥6.03 | x |
| 2016-12-31 | CN¥2.16 | CN¥6.03 | x |
| 2017-12-31 | CN¥4.06 | CN¥6.03 | x |
| 2018-12-31 | CN¥3.27 | CN¥6.03 | x |
| 2019-12-31 | CN¥3.45 | CN¥6.03 | x |
| 2020-12-31 | CN¥3.58 | CN¥6.03 | x |
| 2021-12-31 | CN¥3.64 | CN¥6.03 | x |
| 2022-12-31 | CN¥3.72 | CN¥6.03 | x |
| 2023-12-31 | CN¥3.89 | CN¥6.03 | x |
| 2024-12-31 | CN¥4.12 | CN¥6.03 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Zhejiang Meilun Elevator 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): 10.93%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.56%
- • Asset Turnover: 0.40x
- • Equity Multiplier: 1.66x
- Recent ROE (10.93%) is below the historical average (12.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 33.56% | 10.16% | 1.04x | 3.17x | CN¥56.94 Million |
| 2014 | 26.51% | 10.76% | 0.94x | 2.63x | CN¥55.07 Million |
| 2015 | 26.80% | 13.00% | 0.91x | 2.25x | CN¥70.28 Million |
| 2016 | 18.04% | 11.61% | 0.80x | 1.93x | CN¥40.38 Million |
| 2017 | 7.63% | 10.47% | 0.49x | 1.50x | CN¥-23.77 Million |
| 2018 | 4.89% | 6.80% | 0.48x | 1.49x | CN¥-52.44 Million |
| 2019 | 3.74% | 5.37% | 0.46x | 1.53x | CN¥-66.18 Million |
| 2020 | 4.65% | 7.04% | 0.41x | 1.62x | CN¥-58.82 Million |
| 2021 | 3.93% | 4.14% | 0.55x | 1.73x | CN¥-67.79 Million |
| 2022 | 4.09% | 4.59% | 0.51x | 1.73x | CN¥-67.46 Million |
| 2023 | 6.85% | 8.57% | 0.45x | 1.76x | CN¥-37.56 Million |
| 2024 | 10.93% | 16.56% | 0.40x | 1.66x | CN¥11.41 Million |
Industry Comparison
This section compares Zhejiang Meilun Elevator Co Ltd's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $1,789,881,335
- Average return on equity (ROE) among peers: -6.32%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Zhejiang Meilun Elevator Co Ltd (603321) | CN¥1.48 Billion | 33.56% | 0.41x | $307.85 Million |
| Huayi Compressor Co Ltd (000404) | $83.42 Million | 0.00% | 1.93x | $748.57 Million |
| Shenyang Machine Tool Co Ltd (000410) | $937.49 Million | -5.66% | 3.09x | $1.84 Billion |
| North Industries Group Red Arrow Co Ltd (000519) | $5.49 Billion | 7.05% | 0.45x | $4.41 Billion |
| Bingshan Refrigeration & Heat Transfer Technologies Co Ltd (000530) | $1.74 Billion | 7.32% | 0.56x | $470.18 Million |
| Changchai Co Ltd (000570) | $3.47 Billion | 3.13% | 0.49x | $391.13 Million |
| Jiangsu Youli Investment Holding Co Ltd (000584) | $548.85 Million | -73.31% | 6.48x | $32.29 Million |
| Baota Industry Co Ltd (000595) | $429.75 Million | 1.60% | 1.63x | $929.75 Million |
| SUFA Technology Industry Co Ltd CNNC (000777) | $267.53 Million | -2.75% | 0.69x | $953.80 Million |
| J.S. Corrugating Machinery Co Ltd (000821) | $1.07 Billion | -7.82% | 0.37x | $674.48 Million |
| Qinchuan Machine Tool & Tool Group Share Co Ltd (000837) | $3.87 Billion | 7.25% | 1.03x | $1.66 Billion |
About Zhejiang Meilun Elevator Co Ltd
Zhejiang Meilun Elevator Co., Ltd. designs, manufactures, and sells elevators and escalators in China. It offers passenger, freight, old residential areas, household, medical, and sightseeing elevators, as well as escalators, moving walkways, stereo garages, and accessories. Its products are used for applications in shopping malls, supermarkets, stations, airports, overpasses and other public tra… Read more