Hangzhou Cable (603618) - Net Assets
Based on the latest financial reports, Hangzhou Cable (603618) has net assets worth CN¥2.79 Billion CNY (≈ $407.97 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¥10.85 Billion ≈ $1.59 Billion USD) and total liabilities (CN¥8.06 Billion ≈ $1.18 Billion 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 Cable (603618) tangible equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥2.79 Billion |
| % of Total Assets | 25.7% |
| Annual Growth Rate | 12.24% |
| 5-Year Change | 0.86% |
| 10-Year Change | 23.56% |
| Growth Volatility | 21.91 |
Hangzhou Cable - Net Assets Trend (2011–2025)
This chart illustrates how Hangzhou Cable's net assets have evolved over time, based on quarterly financial data. See Hangzhou Cable (603618) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Hangzhou Cable (2011–2025)
The table below shows the annual net assets of Hangzhou Cable from 2011 to 2025. For live valuation and market cap data, see Hangzhou Cable stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥2.80 Billion ≈ $409.12 Million |
-9.55% |
| 2024-12-31 | CN¥3.09 Billion ≈ $452.31 Million |
+3.28% |
| 2023-12-31 | CN¥2.99 Billion ≈ $437.93 Million |
+3.82% |
| 2022-12-31 | CN¥2.88 Billion ≈ $421.80 Million |
+3.99% |
| 2021-12-31 | CN¥2.77 Billion ≈ $405.62 Million |
-1.06% |
| 2020-12-31 | CN¥2.80 Billion ≈ $409.96 Million |
+3.78% |
| 2019-12-31 | CN¥2.70 Billion ≈ $395.02 Million |
+17.61% |
| 2018-12-31 | CN¥2.30 Billion ≈ $335.88 Million |
+10.49% |
| 2017-12-31 | CN¥2.08 Billion ≈ $303.99 Million |
-8.19% |
| 2016-12-31 | CN¥2.26 Billion ≈ $331.10 Million |
+47.24% |
| 2015-12-31 | CN¥1.54 Billion ≈ $224.88 Million |
+76.25% |
| 2014-12-31 | CN¥871.93 Million ≈ $127.59 Million |
+15.42% |
| 2013-12-31 | CN¥755.46 Million ≈ $110.55 Million |
+16.49% |
| 2012-12-31 | CN¥648.50 Million ≈ $94.90 Million |
+16.84% |
| 2011-12-31 | CN¥555.04 Million ≈ $81.22 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Hangzhou Cable'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 1836.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥536.30 Million | 19.76% |
| Other Components | CN¥2.18 Billion | 80.24% |
| Total Equity | CN¥2.71 Billion | 100.00% |
Hangzhou Cable Competitors by Market Cap
The table below lists competitors of Hangzhou Cable ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Grupo Simec SAB de CV ADR
NYSE MKT:SIM
|
$4.76 Billion |
|
Sinolink Securities Co Ltd
SHG:600109
|
$4.76 Billion |
|
Lancaster Colony Corporation
NASDAQ:LANC
|
$4.76 Billion |
|
Ondas Holdings Inc.
NASDAQ:ONDS
|
$4.76 Billion |
|
Sinochem International Corp
SHG:600500
|
$4.76 Billion |
|
Ningxia Orient Tantalum Industry Co Ltd
SHE:000962
|
$4.75 Billion |
|
Hubei Energy Group Co Ltd
SHE:000883
|
$4.75 Billion |
|
Pharmaron Beijing Co Ltd
SHE:300759
|
$4.75 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hangzhou Cable's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,004,603,599 to 2,713,582,410, a change of -291,021,189 (-9.7%).
- Net loss of 298,694,279 reduced equity.
- Dividend payments of 158,945,826 reduced retained earnings.
- Other comprehensive income decreased equity by 220,142,996.
- Other factors increased equity by 386,761,912.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-298.69 Million | -11.01% |
| Dividends Paid | CN¥158.95 Million | -5.86% |
| Other Comprehensive Income | CN¥-220.14 Million | -8.11% |
| Other Changes | CN¥386.76 Million | +14.25% |
| Total Change | CN¥- | -9.69% |
Book Value vs Market Value Analysis
This analysis compares Hangzhou Cable'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: 11.98x
- 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 37.82x to 11.98x 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¥1.24 | CN¥47.03 | x |
| 2012-12-31 | CN¥1.32 | CN¥47.03 | x |
| 2013-12-31 | CN¥1.50 | CN¥47.03 | x |
| 2014-12-31 | CN¥1.75 | CN¥47.03 | x |
| 2015-12-31 | CN¥2.46 | CN¥47.03 | x |
| 2016-12-31 | CN¥3.33 | CN¥47.03 | x |
| 2017-12-31 | CN¥2.97 | CN¥47.03 | x |
| 2018-12-31 | CN¥3.31 | CN¥47.03 | x |
| 2019-12-31 | CN¥3.86 | CN¥47.03 | x |
| 2020-12-31 | CN¥3.78 | CN¥47.03 | x |
| 2021-12-31 | CN¥3.80 | CN¥47.03 | x |
| 2022-12-31 | CN¥4.11 | CN¥47.03 | x |
| 2023-12-31 | CN¥4.27 | CN¥47.03 | x |
| 2024-12-31 | CN¥4.36 | CN¥47.03 | x |
| 2025-12-31 | CN¥3.92 | CN¥47.03 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hangzhou Cable 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): -11.01%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -3.16%
- • Asset Turnover: 0.95x
- • Equity Multiplier: 3.68x
- Recent ROE (-11.01%) is below the historical average (5.77%), 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 | 3.75% | 0.97% | 1.08x | 3.58x | CN¥-32.94 Million |
| 2012 | 16.67% | 5.07% | 1.01x | 3.26x | CN¥42.02 Million |
| 2013 | 13.30% | 4.01% | 0.96x | 3.46x | CN¥23.99 Million |
| 2014 | 13.88% | 4.39% | 1.01x | 3.14x | CN¥32.69 Million |
| 2015 | 8.95% | 4.33% | 0.94x | 2.19x | CN¥-15.88 Million |
| 2016 | 6.31% | 3.83% | 0.93x | 1.78x | CN¥-82.30 Million |
| 2017 | 5.04% | 2.41% | 0.86x | 2.43x | CN¥-98.58 Million |
| 2018 | 4.53% | 2.30% | 0.77x | 2.56x | CN¥-121.52 Million |
| 2019 | 4.40% | 2.37% | 0.74x | 2.51x | CN¥-148.04 Million |
| 2020 | 2.64% | 1.22% | 0.80x | 2.72x | CN¥-201.27 Million |
| 2021 | 3.69% | 1.34% | 0.85x | 3.25x | CN¥-170.25 Million |
| 2022 | 5.11% | 1.75% | 0.87x | 3.35x | CN¥-136.66 Million |
| 2023 | 4.68% | 1.84% | 0.74x | 3.41x | CN¥-154.18 Million |
| 2024 | 4.59% | 1.56% | 0.88x | 3.34x | CN¥-162.59 Million |
| 2025 | -11.01% | -3.16% | 0.95x | 3.68x | CN¥-570.05 Million |
Industry Comparison
This section compares Hangzhou Cable's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $2,466,870,524
- Average return on equity (ROE) among peers: 7.13%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hangzhou Cable (603618) | CN¥2.79 Billion | 3.75% | 2.89x | $4.76 Billion |
| XJ Electric Co Ltd (000400) | $11.10 Billion | 7.08% | 0.75x | $3.44 Billion |
| Guangdong Macro Co Ltd (000533) | $2.18 Billion | 1.75% | 1.00x | $1.14 Billion |
| Foshan Electrical and Lighting Co Ltd (000541) | $1.19 Billion | 13.28% | 0.23x | $957.37 Million |
| Dongfang Electronics Co Ltd (000682) | $1.32 Billion | 0.16% | 0.16x | $2.44 Billion |
| Shandong Xinneng Taishan Power Generation Co Ltd (000720) | $1.54 Billion | 2.10% | 1.51x | $810.87 Million |
| Huagong Tech Co Ltd (000988) | $2.63 Billion | 5.72% | 0.51x | $24.13 Billion |
| Hunan Valin Wire & Cable Co Ltd (001208) | $1.62 Billion | 6.74% | 1.87x | $1.49 Billion |
| Sieyuan Electric Co Ltd (002028) | $2.82 Billion | 5.45% | 0.34x | $19.98 Billion |
| Shanghai Welltech Automation Co Ltd (002058) | $186.07 Million | 7.07% | 0.22x | $520.79 Million |
| Gotion High tech Co Ltd (002074) | $87.88 Million | 21.99% | 1.03x | $8.04 Billion |
About Hangzhou Cable
Hangzhou Cable Co., Ltd. engages in the research, design, development, manufacture, and sale of wires, cables, and optical fiber cables in China and internationally. The company offers ultra-high voltage, power, overhead power lines, mining, wind power, rail transit, control, mineral insulated, rubber sheathed, and fireproof cables, as well as aluminum alloy, overhead, and plastic wires. It also … Read more