Topscore Fashion
Topscore Fashion Co., Ltd. engages in production and sales of leather shoes and apparel products, and mobile Internet marketing business in China. It offers mid-to-high-end fashion women's shoes, and apparel accessories, such as leather, fur, feathers, and footwear products under the KISSCAT, ZSAZSAZSU, tigrisso, MUSTHAVE, KissKitty, O bag, and Patricia brands. The company also offers mobile Inte… Read more
Topscore Fashion (603608) - Net Assets
Latest net assets as of September 2025: CN¥1.09 Billion CNY
Based on the latest financial reports, Topscore Fashion (603608) has net assets worth CN¥1.09 Billion CNY as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥1.53 Billion) and total liabilities (CN¥437.51 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.09 Billion |
| % of Total Assets | 71.4% |
| Annual Growth Rate | 6.06% |
| 5-Year Change | -38.06% |
| 10-Year Change | 22.29% |
| Growth Volatility | 25.21 |
Topscore Fashion - Net Assets Trend (2011–2024)
This chart illustrates how Topscore Fashion's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Topscore Fashion (2011–2024)
The table below shows the annual net assets of Topscore Fashion from 2011 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥1.07 Billion | -19.33% |
| 2023-12-31 | CN¥1.32 Billion | -2.12% |
| 2022-12-31 | CN¥1.35 Billion | -14.21% |
| 2021-12-31 | CN¥1.57 Billion | -8.56% |
| 2020-12-31 | CN¥1.72 Billion | -20.80% |
| 2019-12-31 | CN¥2.17 Billion | -0.03% |
| 2018-12-31 | CN¥2.17 Billion | +7.35% |
| 2017-12-31 | CN¥2.02 Billion | +30.45% |
| 2016-12-31 | CN¥1.55 Billion | +78.07% |
| 2015-12-31 | CN¥871.43 Million | +9.60% |
| 2014-12-31 | CN¥795.10 Million | +14.04% |
| 2013-12-31 | CN¥697.19 Million | +12.62% |
| 2012-12-31 | CN¥619.04 Million | +24.77% |
| 2011-12-31 | CN¥496.14 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Topscore Fashion'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 decreased by 228.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CN¥419.71 Million | 40.25% |
| Other Comprehensive Income | CN¥8.71 Million | 0.84% |
| Other Components | CN¥941.74 Million | 90.32% |
| Total Equity | CN¥1.04 Billion | 100.00% |
Topscore Fashion Competitors by Market Cap
The table below lists competitors of Topscore Fashion ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Jiangxi Synergy Pharmaceutical Co Ltd
SHE:300636
|
$312.43 Million |
|
THE REAL BROKERAGE INC.
F:87M
|
$312.50 Million |
|
GP-Act III Acquisition Corp. Units
NASDAQ:GPATU
|
$312.51 Million |
|
Guangdong Tecsun Science & Technology Co Ltd
SHE:002908
|
$312.57 Million |
|
Shahe Industry Co Ltd
SHE:000014
|
$312.36 Million |
|
Shandong Jinling Mining Co Ltd
SHE:000655
|
$312.23 Million |
|
Shenzhen New Nanshan Holding Group Co Ltd
SHE:002314
|
$312.21 Million |
|
Peugeot Invest SA
PA:PEUG
|
$312.21 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Topscore Fashion's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,296,713,082 to 1,042,691,207, a change of -254,021,875 (-19.6%).
- Net loss of 90,814,140 reduced equity.
- Dividend payments of 13,765,514 reduced retained earnings.
- Share repurchases of 140,942,966 reduced equity.
- Other comprehensive income decreased equity by 92,051,937.
- Other factors increased equity by 83,552,682.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-90.81 Million | -8.71% |
| Dividends Paid | CN¥13.77 Million | -1.32% |
| Share Repurchases | CN¥140.94 Million | -13.52% |
| Other Comprehensive Income | CN¥-92.05 Million | -8.83% |
| Other Changes | CN¥83.55 Million | +8.01% |
| Total Change | CN¥- | -19.59% |
Book Value vs Market Value Analysis
This analysis compares Topscore Fashion'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: 4.16x
- 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 6.91x to 4.16x 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¥1.66 | CN¥11.46 | x |
| 2012-12-31 | CN¥2.06 | CN¥11.46 | x |
| 2013-12-31 | CN¥2.34 | CN¥11.46 | x |
| 2014-12-31 | CN¥2.63 | CN¥11.46 | x |
| 2015-12-31 | CN¥2.91 | CN¥11.46 | x |
| 2016-12-31 | CN¥4.04 | CN¥11.46 | x |
| 2017-12-31 | CN¥5.13 | CN¥11.46 | x |
| 2018-12-31 | CN¥4.98 | CN¥11.46 | x |
| 2019-12-31 | CN¥5.09 | CN¥11.46 | x |
| 2020-12-31 | CN¥4.06 | CN¥11.46 | x |
| 2021-12-31 | CN¥3.74 | CN¥11.46 | x |
| 2022-12-31 | CN¥3.27 | CN¥11.46 | x |
| 2023-12-31 | CN¥3.01 | CN¥11.46 | x |
| 2024-12-31 | CN¥2.76 | CN¥11.46 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Topscore Fashion 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): -8.71%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -8.27%
- • Asset Turnover: 0.67x
- • Equity Multiplier: 1.57x
- Recent ROE (-8.71%) is below the historical average (4.74%), 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 | 21.10% | 9.76% | 1.18x | 1.84x | CN¥54.12 Million |
| 2012 | 19.72% | 9.27% | 1.17x | 1.81x | CN¥59.02 Million |
| 2013 | 15.27% | 6.89% | 1.15x | 1.92x | CN¥35.91 Million |
| 2014 | 15.47% | 7.12% | 1.21x | 1.80x | CN¥42.48 Million |
| 2015 | 12.28% | 6.39% | 1.16x | 1.66x | CN¥19.36 Million |
| 2016 | 7.67% | 7.58% | 0.85x | 1.19x | CN¥-35.68 Million |
| 2017 | 9.36% | 10.84% | 0.61x | 1.41x | CN¥-12.83 Million |
| 2018 | 11.24% | 11.80% | 0.76x | 1.26x | CN¥26.76 Million |
| 2019 | 9.64% | 9.93% | 0.79x | 1.24x | CN¥-7.84 Million |
| 2020 | -26.97% | -24.50% | 0.70x | 1.58x | CN¥-630.62 Million |
| 2021 | -4.04% | -3.28% | 0.75x | 1.64x | CN¥-219.15 Million |
| 2022 | -13.35% | -14.05% | 0.59x | 1.60x | CN¥-312.77 Million |
| 2023 | -2.33% | -2.37% | 0.60x | 1.64x | CN¥-159.83 Million |
| 2024 | -8.71% | -8.27% | 0.67x | 1.57x | CN¥-195.08 Million |
Industry Comparison
This section compares Topscore Fashion's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $1,443,015,518
- Average return on equity (ROE) among peers: 3.30%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Topscore Fashion (603608) | CN¥1.09 Billion | 21.10% | 0.40x | $312.39 Million |
| Wuxi Double Elephant Micro Fibre Material Co Ltd (002395) | $904.81 Million | 5.58% | 1.28x | $239.60 Million |
| Anhui ANLI Artificial Leather (300218) | $1.41 Billion | 5.04% | 0.56x | $299.48 Million |
| Shandong Tongda Island New Materials Co Ltd (300321) | $533.14 Million | 5.46% | 0.35x | $195.48 Million |
| Anhui Korrun Co Ltd (300577) | $900.20 Million | 25.11% | 1.19x | $260.39 Million |
| Guangdong Wanlima Industry Co Ltd (300591) | $576.44 Million | -36.88% | 0.65x | $319.12 Million |
| Zhejiang Zoenn Design Co Ltd (300901) | $957.63 Million | 10.91% | 0.13x | $230.20 Million |
| Zhejiang Aokang Shoes Co Ltd (603001) | $3.47 Billion | 0.98% | 0.26x | $215.04 Million |
| Zhejiang Red Dragonfly Footwear Co Ltd (603116) | $3.20 Billion | 8.72% | 0.37x | $163.02 Million |
| Zhejiang Kanglongda Special (603665) | $1.04 Billion | 4.80% | 0.37x | $378.58 Million |