Hangzhou Zongheng Commun (603602) - Net Assets
Based on the latest financial reports, Hangzhou Zongheng Commun (603602) has net assets worth CN¥916.77 Million CNY (≈ $134.15 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¥2.32 Billion ≈ $340.06 Million USD) and total liabilities (CN¥1.41 Billion ≈ $205.91 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 Hangzhou Zongheng Commun (603602) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥916.77 Million |
| % of Total Assets | 39.45% |
| Annual Growth Rate | 13.76% |
| 5-Year Change | 23.05% |
| 10-Year Change | 179.05% |
| Growth Volatility | 26.28 |
Hangzhou Zongheng Commun - Net Assets Trend (2011–2025)
This chart illustrates how Hangzhou Zongheng Commun's net assets have evolved over time, based on quarterly financial data. See 603602 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Hangzhou Zongheng Commun (2011–2025)
The table below shows the annual net assets of Hangzhou Zongheng Commun from 2011 to 2025. For live valuation and market cap data, see market cap of Hangzhou Zongheng Commun.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥904.58 Million ≈ $132.37 Million |
-14.23% |
| 2024-12-31 | CN¥1.05 Billion ≈ $154.33 Million |
+31.59% |
| 2023-12-31 | CN¥801.51 Million ≈ $117.29 Million |
+6.86% |
| 2022-12-31 | CN¥750.09 Million ≈ $109.76 Million |
+2.03% |
| 2021-12-31 | CN¥735.14 Million ≈ $107.57 Million |
+1.05% |
| 2020-12-31 | CN¥727.53 Million ≈ $106.46 Million |
+2.39% |
| 2019-12-31 | CN¥710.54 Million ≈ $103.98 Million |
+4.20% |
| 2018-12-31 | CN¥681.90 Million ≈ $99.78 Million |
+4.94% |
| 2017-12-31 | CN¥649.82 Million ≈ $95.09 Million |
+100.46% |
| 2016-12-31 | CN¥324.16 Million ≈ $47.43 Million |
+16.71% |
| 2015-12-31 | CN¥277.74 Million ≈ $40.64 Million |
-0.23% |
| 2014-12-31 | CN¥278.39 Million ≈ $40.74 Million |
+20.93% |
| 2013-12-31 | CN¥230.22 Million ≈ $33.69 Million |
+25.20% |
| 2012-12-31 | CN¥183.88 Million ≈ $26.91 Million |
+23.53% |
| 2011-12-31 | CN¥148.85 Million ≈ $21.78 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Hangzhou Zongheng Commun'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 130.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥203.56 Million | 22.98% |
| Other Components | CN¥682.19 Million | 77.02% |
| Total Equity | CN¥885.74 Million | 100.00% |
Hangzhou Zongheng Commun Competitors by Market Cap
The table below lists competitors of Hangzhou Zongheng Commun ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shanghai Join Buy Co Ltd
SHG:600838
|
$447.00 Million |
|
EUROKAI GmbH & Co. KGaA
F:EUK3
|
$447.05 Million |
|
Alexander Marine Co Ltd
TW:8478
|
$447.06 Million |
|
Liaoning Shenhua Holdings Co Ltd
SHG:600653
|
$447.16 Million |
|
Assembly Biosciences Inc
NASDAQ:ASMB
|
$446.98 Million |
|
Barem Ambalaj Sanayi ve Ticaret a.s.
IS:BARMA
|
$446.83 Million |
|
LandOcean Energy Services Co
SHE:300157
|
$446.82 Million |
|
Lion Travel Service Co Ltd
TW:2731
|
$446.69 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hangzhou Zongheng Commun's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,040,576,397 to 885,743,978, a change of -154,832,419 (-14.9%).
- Net loss of 163,028,339 reduced equity.
- Dividend payments of 35,188,976 reduced retained earnings.
- Other comprehensive income decreased equity by 44,957,448.
- Other factors increased equity by 88,342,343.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-163.03 Million | -18.41% |
| Dividends Paid | CN¥35.19 Million | -3.97% |
| Other Comprehensive Income | CN¥-44.96 Million | -5.08% |
| Other Changes | CN¥88.34 Million | +9.97% |
| Total Change | CN¥- | -14.88% |
Book Value vs Market Value Analysis
This analysis compares Hangzhou Zongheng Commun'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: 3.45x
- 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 13.71x to 3.45x 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¥0.96 | CN¥13.22 | x |
| 2012-12-31 | CN¥1.17 | CN¥13.22 | x |
| 2013-12-31 | CN¥1.47 | CN¥13.22 | x |
| 2014-12-31 | CN¥1.78 | CN¥13.22 | x |
| 2015-12-31 | CN¥1.78 | CN¥13.22 | x |
| 2016-12-31 | CN¥2.09 | CN¥13.22 | x |
| 2017-12-31 | CN¥3.77 | CN¥13.22 | x |
| 2018-12-31 | CN¥3.27 | CN¥13.22 | x |
| 2019-12-31 | CN¥3.47 | CN¥13.22 | x |
| 2020-12-31 | CN¥3.51 | CN¥13.22 | x |
| 2021-12-31 | CN¥3.75 | CN¥13.22 | x |
| 2022-12-31 | CN¥3.79 | CN¥13.22 | x |
| 2023-12-31 | CN¥3.83 | CN¥13.22 | x |
| 2024-12-31 | CN¥4.97 | CN¥13.22 | x |
| 2025-12-31 | CN¥3.83 | CN¥13.22 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hangzhou Zongheng Commun 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): -18.41%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.88%
- • Asset Turnover: 0.76x
- • Equity Multiplier: 2.75x
- Recent ROE (-18.41%) is below the historical average (9.39%), 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 | 27.67% | 15.49% | 0.74x | 2.43x | CN¥25.87 Million |
| 2012 | 23.92% | 15.26% | 0.72x | 2.18x | CN¥24.96 Million |
| 2013 | 20.27% | 14.73% | 0.66x | 2.09x | CN¥23.08 Million |
| 2014 | 17.59% | 14.46% | 0.59x | 2.06x | CN¥20.72 Million |
| 2015 | 17.88% | 11.62% | 0.61x | 2.51x | CN¥21.39 Million |
| 2016 | 16.91% | 10.51% | 0.70x | 2.31x | CN¥21.95 Million |
| 2017 | 9.32% | 10.19% | 0.58x | 1.58x | CN¥-4.34 Million |
| 2018 | 6.59% | 7.63% | 0.53x | 1.62x | CN¥-23.02 Million |
| 2019 | 5.48% | 4.45% | 0.71x | 1.72x | CN¥-31.80 Million |
| 2020 | 2.28% | 2.14% | 0.49x | 2.16x | CN¥-56.24 Million |
| 2021 | 2.40% | 2.01% | 0.53x | 2.25x | CN¥-56.20 Million |
| 2022 | 2.90% | 1.93% | 0.71x | 2.11x | CN¥-53.62 Million |
| 2023 | 4.18% | 2.42% | 0.80x | 2.15x | CN¥-45.80 Million |
| 2024 | 1.81% | 1.13% | 0.71x | 2.24x | CN¥-85.20 Million |
| 2025 | -18.41% | -8.88% | 0.76x | 2.75x | CN¥-251.60 Million |
Industry Comparison
This section compares Hangzhou Zongheng Commun's net assets metrics with peer companies in the Telecom Services industry.
Industry Context
- Industry: Telecom Services
- Average net assets among peers: $1,205,935,474
- Average return on equity (ROE) among peers: 6.03%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hangzhou Zongheng Commun (603602) | CN¥916.77 Million | 27.67% | 1.53x | $446.98 Million |
| Beijing Bewinner Communications Co Ltd (002148) | $1.13 Billion | -2.52% | 0.10x | $511.02 Million |
| Net263 Ltd (002467) | $2.02 Billion | 3.39% | 0.17x | $1.04 Billion |
| Runjian Communication Co Ltd Class A (002929) | $946.00 Million | 18.90% | 1.02x | $2.58 Billion |
| Hangzhou Huaxing Chuangye Communication Technology Co Ltd (300025) | $800.19 Million | -16.68% | 2.76x | $336.52 Million |
| Dingli Communications Corp Ltd (300050) | $2.42 Billion | 1.07% | 0.27x | $537.37 Million |
| Fuchun Technology Co Ltd (300299) | $531.11 Million | 14.13% | 0.92x | $514.15 Million |
| Zhong Fu Tong Co Ltd (300560) | $1.14 Billion | 3.14% | 1.37x | $630.35 Million |
| Zhejiang Merit Interactive Network Technology Co Ltd Class A (300766) | $1.13 Billion | 21.95% | 0.08x | $1.39 Billion |
| NOVA Technology Corporation Limited (300921) | $805.10 Million | 9.45% | 0.14x | $598.69 Million |
| Wuxi Online Offline Communication Information Technology Co. Ltd. (300959) | $1.13 Billion | 7.48% | 0.04x | $1.88 Billion |
About Hangzhou Zongheng Commun
Hangzhou Freely Communication Co., Ltd., together with its subsidiaries, provides communication network technology services in China. The company offers communication network construction and maintenance services; indoor distribution system, base installation, and antenna engineering services; and integrated access services. It also provides digital services for government and enterprise industri… Read more