Henan Thinker Automation (603508) - Net Assets
Based on the latest financial reports, Henan Thinker Automation (603508) has net assets worth CN¥4.31 Billion CNY (≈ $631.04 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¥4.63 Billion ≈ $677.24 Million USD) and total liabilities (CN¥315.73 Million ≈ $46.20 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. Also explore 603508 total assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥4.31 Billion |
| % of Total Assets | 93.18% |
| Annual Growth Rate | 22.34% |
| 5-Year Change | -3.26% |
| 10-Year Change | 67.73% |
| Growth Volatility | 52.07 |
Henan Thinker Automation - Net Assets Trend (2011–2025)
This chart illustrates how Henan Thinker Automation's net assets have evolved over time, based on quarterly financial data. Check Henan Thinker Automation (603508) tangible net worth to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Henan Thinker Automation (2011–2025)
The table below shows the annual net assets of Henan Thinker Automation from 2011 to 2025. For live valuation and market cap data, see market cap of Henan Thinker Automation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥4.14 Billion ≈ $606.27 Million |
-14.11% |
| 2024-12-31 | CN¥4.82 Billion ≈ $705.87 Million |
+3.63% |
| 2023-12-31 | CN¥4.65 Billion ≈ $681.15 Million |
+4.96% |
| 2022-12-31 | CN¥4.43 Billion ≈ $648.97 Million |
+3.55% |
| 2021-12-31 | CN¥4.28 Billion ≈ $626.73 Million |
+9.43% |
| 2020-12-31 | CN¥3.91 Billion ≈ $572.74 Million |
-11.39% |
| 2019-12-31 | CN¥4.42 Billion ≈ $646.34 Million |
+63.84% |
| 2018-12-31 | CN¥2.70 Billion ≈ $394.49 Million |
+5.09% |
| 2017-12-31 | CN¥2.57 Billion ≈ $375.39 Million |
+3.86% |
| 2016-12-31 | CN¥2.47 Billion ≈ $361.45 Million |
+7.95% |
| 2015-12-31 | CN¥2.29 Billion ≈ $334.84 Million |
+197.41% |
| 2014-12-31 | CN¥769.40 Million ≈ $112.59 Million |
+44.91% |
| 2013-12-31 | CN¥530.94 Million ≈ $77.69 Million |
+40.45% |
| 2012-12-31 | CN¥378.03 Million ≈ $55.32 Million |
+53.63% |
| 2011-12-31 | CN¥246.07 Million ≈ $36.01 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Henan Thinker Automation'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 6972.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥1.14 Billion | 28.52% |
| Other Components | CN¥2.86 Billion | 71.48% |
| Total Equity | CN¥4.00 Billion | 100.00% |
Henan Thinker Automation Competitors by Market Cap
The table below lists competitors of Henan Thinker Automation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
TTW Public Company Limited
BK:TTW
|
$1.31 Billion |
|
Zotye Automobile Co Ltd
SHE:000980
|
$1.31 Billion |
|
Shanghai Luoman Lighting Technologies Inc.
SHG:605289
|
$1.31 Billion |
|
Allied Properties Real Estate Investment Trust
TO:AP-UN
|
$1.31 Billion |
|
Zhejiang Hisoar Pharmaceutical Co Ltd
SHE:002099
|
$1.31 Billion |
|
Yapp Automotive Systems Co Ltd
SHG:603013
|
$1.30 Billion |
|
Wuhan East Lake High Technology Group Co Ltd
SHG:600133
|
$1.30 Billion |
|
Pabrik Kertas Tjiwi Kimia Tbk
JK:TKIM
|
$1.30 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Henan Thinker Automation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 4,701,316,120 to 4,004,486,871, a change of -696,829,249 (-14.8%).
- Net income of 556,146,870 contributed positively to equity growth.
- Dividend payments of 1,253,736,908 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥556.15 Million | +13.89% |
| Dividends Paid | CN¥1.25 Billion | -31.31% |
| Other Changes | CN¥760.79K | +0.02% |
| Total Change | CN¥- | -14.82% |
Book Value vs Market Value Analysis
This analysis compares Henan Thinker Automation'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: 2.23x
- 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 22.45x to 2.23x 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¥1.04 | CN¥23.40 | x |
| 2012-12-31 | CN¥1.61 | CN¥23.40 | x |
| 2013-12-31 | CN¥2.25 | CN¥23.40 | x |
| 2014-12-31 | CN¥3.28 | CN¥23.40 | x |
| 2015-12-31 | CN¥9.72 | CN¥23.40 | x |
| 2016-12-31 | CN¥7.82 | CN¥23.40 | x |
| 2017-12-31 | CN¥8.12 | CN¥23.40 | x |
| 2018-12-31 | CN¥8.48 | CN¥23.40 | x |
| 2019-12-31 | CN¥11.61 | CN¥23.40 | x |
| 2020-12-31 | CN¥10.34 | CN¥23.40 | x |
| 2021-12-31 | CN¥15.43 | CN¥23.40 | x |
| 2022-12-31 | CN¥11.42 | CN¥23.40 | x |
| 2023-12-31 | CN¥11.94 | CN¥23.40 | x |
| 2024-12-31 | CN¥12.33 | CN¥23.40 | x |
| 2025-12-31 | CN¥10.50 | CN¥23.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Henan Thinker Automation 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): 13.89%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 36.60%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 1.14x
- Recent ROE (13.89%) is below the historical average (15.12%), 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 | 45.52% | 37.24% | 0.71x | 1.72x | CN¥87.39 Million |
| 2012 | 34.91% | 35.34% | 0.80x | 1.23x | CN¥94.16 Million |
| 2013 | 28.80% | 35.07% | 0.64x | 1.29x | CN¥99.82 Million |
| 2014 | 30.99% | 37.16% | 0.68x | 1.22x | CN¥161.52 Million |
| 2015 | 11.82% | 36.77% | 0.29x | 1.11x | CN¥41.55 Million |
| 2016 | 7.64% | 30.63% | 0.23x | 1.09x | CN¥-57.89 Million |
| 2017 | 5.15% | 28.49% | 0.17x | 1.09x | CN¥-123.38 Million |
| 2018 | 7.04% | 34.69% | 0.19x | 1.07x | CN¥-78.94 Million |
| 2019 | 18.06% | 87.48% | 0.18x | 1.14x | CN¥352.31 Million |
| 2020 | -14.92% | -68.09% | 0.19x | 1.13x | CN¥-959.28 Million |
| 2021 | 9.16% | 36.21% | 0.23x | 1.10x | CN¥-35.46 Million |
| 2022 | 7.97% | 32.46% | 0.22x | 1.10x | CN¥-88.40 Million |
| 2023 | 9.05% | 34.91% | 0.23x | 1.11x | CN¥-43.21 Million |
| 2024 | 11.66% | 36.19% | 0.29x | 1.12x | CN¥78.25 Million |
| 2025 | 13.89% | 36.60% | 0.33x | 1.14x | CN¥155.70 Million |
Industry Comparison
This section compares Henan Thinker Automation's net assets metrics with peer companies in the Scientific & Technical Instruments industry.
Industry Context
- Industry: Scientific & Technical Instruments
- Average net assets among peers: $1,500,158,816
- Average return on equity (ROE) among peers: 10.08%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Henan Thinker Automation (603508) | CN¥4.31 Billion | 45.52% | 0.07x | $1.31 Billion |
| Beijing BDStar Navigation Co Ltd (002151) | $849.33 Million | 5.08% | 0.99x | $2.32 Billion |
| Oriental Times Media Corp (002175) | $258.65 Million | 2.09% | 0.47x | $444.66 Million |
| Changchun UP Optotech Co Ltd (002338) | $890.24 Million | 4.58% | 0.11x | $1.37 Billion |
| Nanjing Sciyon Automation Group Co Ltd (002380) | $949.47 Million | 4.48% | 0.18x | $1.01 Billion |
| Beijing UniStrong Science & Technology Co Ltd (002383) | $1.84 Billion | 3.30% | 0.36x | $756.20 Million |
| Jiangsu Changfa Refrigeration Co Ltd (002413) | $4.96 Billion | -4.85% | 0.30x | $1.57 Billion |
| Wuhan Guide Infrared Co Ltd (002414) | $126.98 Million | 64.90% | 0.90x | $7.97 Billion |
| Shenzhen Jieshun Science and Technology Industry Co Ltd (002609) | $2.13 Billion | 6.69% | 0.30x | $732.53 Million |
| Beijing SDL Technology Co Ltd (002658) | $1.36 Billion | 14.67% | 0.20x | $680.99 Million |
| Shenzhen Soling Industrial Co Ltd (002766) | $1.65 Billion | -0.14% | 1.22x | $497.00 Million |
About Henan Thinker Automation
Henan Thinker Automatic Equipment Co.,Ltd. engages in the production, research and development, and sale of train operation control systems in China. The company offers in-vehicle solutions, such as train operation control, locomotive onboard safety protection, locomotive remote monitoring and diagnosis, and train operation status information systems. It also provides ground solutions, including … Read more