Three Stars NM (603578) - Net Assets
Based on the latest financial reports, Three Stars NM (603578) has net assets worth CN¥1.33 Billion CNY (≈ $195.08 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¥5.08 Billion ≈ $743.61 Million USD) and total liabilities (CN¥3.75 Billion ≈ $548.53 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 asset allocation strategy of Three Stars NM to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.33 Billion |
| % of Total Assets | 26.23% |
| Annual Growth Rate | 13.92% |
| 5-Year Change | -18.03% |
| 10-Year Change | 251.84% |
| Growth Volatility | 33.74 |
Three Stars NM - Net Assets Trend (2012–2025)
This chart illustrates how Three Stars NM's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see 603578 market cap.
Annual Net Assets for Three Stars NM (2012–2025)
The table below shows the annual net assets of Three Stars NM from 2012 to 2025. Also explore net asset growth rate of Three Stars NM to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥777.48 Million ≈ $113.77 Million |
-22.55% |
| 2024-12-31 | CN¥1.00 Billion ≈ $146.90 Million |
-10.40% |
| 2023-12-31 | CN¥1.12 Billion ≈ $163.95 Million |
+15.49% |
| 2022-12-31 | CN¥970.08 Million ≈ $141.95 Million |
+2.27% |
| 2021-12-31 | CN¥948.51 Million ≈ $138.80 Million |
+27.15% |
| 2020-12-31 | CN¥745.98 Million ≈ $109.16 Million |
+17.81% |
| 2019-12-31 | CN¥633.23 Million ≈ $92.66 Million |
+17.33% |
| 2018-12-31 | CN¥539.71 Million ≈ $78.98 Million |
+8.76% |
| 2017-12-31 | CN¥496.25 Million ≈ $72.62 Million |
+124.57% |
| 2016-12-31 | CN¥220.98 Million ≈ $32.34 Million |
-2.25% |
| 2015-12-31 | CN¥226.07 Million ≈ $33.08 Million |
+6.92% |
| 2014-12-31 | CN¥211.45 Million ≈ $30.94 Million |
+19.45% |
| 2013-12-31 | CN¥177.01 Million ≈ $25.90 Million |
+23.88% |
| 2012-12-31 | CN¥142.89 Million ≈ $20.91 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Three Stars NM'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 1411.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥175.74 Million | 20.60% |
| Other Components | CN¥677.54 Million | 79.40% |
| Total Equity | CN¥853.28 Million | 100.00% |
Three Stars NM Competitors by Market Cap
The table below lists competitors of Three Stars NM ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Guangzhou Huayan Precision Machinery Co.Ltd.
SHE:301138
|
$488.16 Million |
|
Innocean Worldwide Inc
KO:214320
|
$488.20 Million |
|
Beijing Centergate Technologies Holding Co Ltd
SHE:000931
|
$488.21 Million |
|
Albaraka Turk Katilim Bankasi AS
IS:ALBRK
|
$488.26 Million |
|
Ce Link Ltd
SHE:300787
|
$488.00 Million |
|
Wuxi Double Elephant Micro Fibre Material Co Ltd
SHE:002395
|
$487.85 Million |
|
Zinzino AB Series B
ST:ZZ-B
|
$487.76 Million |
|
Jiangsu Phoenix Property Investment Co Ltd
SHG:600716
|
$487.63 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Three Stars NM's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,012,340,393 to 853,277,352, a change of -159,063,041 (-15.7%).
- Net loss of 169,641,406 reduced equity.
- Dividend payments of 26,816,608 reduced retained earnings.
- Other comprehensive income decreased equity by 95,871,432.
- Other factors increased equity by 133,266,405.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-169.64 Million | -19.88% |
| Dividends Paid | CN¥26.82 Million | -3.14% |
| Other Comprehensive Income | CN¥-95.87 Million | -11.24% |
| Other Changes | CN¥133.27 Million | +15.62% |
| Total Change | CN¥- | -15.71% |
Book Value vs Market Value Analysis
This analysis compares Three Stars NM'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: 3.01x
- 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 11.60x to 3.01x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | CN¥1.23 | CN¥14.25 | x |
| 2013-12-31 | CN¥1.48 | CN¥14.25 | x |
| 2014-12-31 | CN¥1.75 | CN¥14.25 | x |
| 2015-12-31 | CN¥1.88 | CN¥14.25 | x |
| 2016-12-31 | CN¥1.83 | CN¥14.25 | x |
| 2017-12-31 | CN¥3.25 | CN¥14.25 | x |
| 2018-12-31 | CN¥3.36 | CN¥14.25 | x |
| 2019-12-31 | CN¥3.95 | CN¥14.25 | x |
| 2020-12-31 | CN¥4.57 | CN¥14.25 | x |
| 2021-12-31 | CN¥5.50 | CN¥14.25 | x |
| 2022-12-31 | CN¥5.35 | CN¥14.25 | x |
| 2023-12-31 | CN¥6.16 | CN¥14.25 | x |
| 2024-12-31 | CN¥5.56 | CN¥14.25 | x |
| 2025-12-31 | CN¥4.73 | CN¥14.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Three Stars NM 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): -19.88%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -11.03%
- • Asset Turnover: 0.35x
- • Equity Multiplier: 5.22x
- Recent ROE (-19.88%) is below the historical average (10.35%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 22.13% | 16.26% | 0.86x | 1.58x | CN¥17.34 Million |
| 2013 | 19.27% | 15.36% | 0.81x | 1.56x | CN¥16.42 Million |
| 2014 | 16.29% | 14.62% | 0.86x | 1.30x | CN¥13.29 Million |
| 2015 | 16.69% | 15.82% | 0.83x | 1.28x | CN¥15.12 Million |
| 2016 | 21.59% | 17.44% | 0.91x | 1.35x | CN¥25.61 Million |
| 2017 | 11.16% | 18.52% | 0.50x | 1.21x | CN¥5.73 Million |
| 2018 | 11.13% | 18.38% | 0.51x | 1.18x | CN¥6.08 Million |
| 2019 | 9.73% | 18.12% | 0.37x | 1.47x | CN¥-1.72 Million |
| 2020 | 11.18% | 14.49% | 0.54x | 1.44x | CN¥8.77 Million |
| 2021 | 10.54% | 11.93% | 0.66x | 1.35x | CN¥5.02 Million |
| 2022 | 10.85% | 13.66% | 0.63x | 1.26x | CN¥8.13 Million |
| 2023 | 10.72% | 13.00% | 0.33x | 2.48x | CN¥7.79 Million |
| 2024 | -6.48% | -6.46% | 0.23x | 4.39x | CN¥-166.84 Million |
| 2025 | -19.88% | -11.03% | 0.35x | 5.22x | CN¥-254.97 Million |
Industry Comparison
This section compares Three Stars NM's net assets metrics with peer companies in the Specialty Industrial Machinery industry.
Industry Context
- Industry: Specialty Industrial Machinery
- Average net assets among peers: $916,926,324
- Average return on equity (ROE) among peers: 3.91%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Three Stars NM (603578) | CN¥1.33 Billion | 22.13% | 2.81x | $488.07 Million |
| Huayi Compressor Co Ltd (000404) | $1.12 Billion | 9.22% | 3.23x | $700.70 Million |
| Shenyang Machine Tool Co Ltd (000410) | $1.55 Billion | 9.14% | 5.77x | $2.16 Billion |
| North Industries Group Red Arrow Co Ltd (000519) | $137.29 Million | 0.92% | 0.66x | $3.14 Billion |
| Bingshan Refrigeration & Heat Transfer Technologies Co Ltd (000530) | $1.06 Billion | 6.63% | 0.45x | $457.86 Million |
| Changchai Co Ltd (000570) | $376.02 Million | 53.26% | 1.68x | $427.72 Million |
| Jiangsu Youli Investment Holding Co Ltd (000584) | $1.12 Billion | -70.12% | 3.14x | $32.29 Million |
| Baota Industry Co Ltd (000595) | $434.81 Million | 0.07% | 1.59x | $878.09 Million |
| SUFA Technology Industry Co Ltd CNNC (000777) | $2.00 Billion | 11.10% | 0.64x | $938.65 Million |
| J.S. Corrugating Machinery Co Ltd (000821) | $738.00 Million | 11.68% | 0.18x | $683.60 Million |
| Qinchuan Machine Tool & Tool Group Share Co Ltd (000837) | $637.23 Million | 7.17% | 0.71x | $1.45 Billion |
About Three Stars NM
Zhejiang Three Stars New Materials Co., Ltd., together with its subsidiaries, manufactures and sells glass products in China and internationally. It offers glass door, processed glass, photovoltaic glass, and plastic products. Its products are used in low-temperature storage equipment, including beverage cabinets, wine cabinets, smart retail cabinets, horizontal freezers, food refrigerators, and … Read more