Shanghai Smith Adhesive New (603683) - Net Assets

Latest as of March 2026: CN¥1.71 Billion CNY ≈ $249.59 Million USD

Based on the latest financial reports, Shanghai Smith Adhesive New (603683) has net assets worth CN¥1.71 Billion CNY (≈ $249.59 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¥3.22 Billion ≈ $471.85 Million USD) and total liabilities (CN¥1.52 Billion ≈ $222.26 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 Shanghai Smith Adhesive New tangible equity quality to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥1.71 Billion
% of Total Assets	52.9%
Annual Growth Rate	21.35%
5-Year Change	68.34%
10-Year Change	242.03%
Growth Volatility	21.11

Shanghai Smith Adhesive New - Net Assets Trend (2012–2025)

This chart illustrates how Shanghai Smith Adhesive New's net assets have evolved over time, based on quarterly financial data. See 603683 cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Shanghai Smith Adhesive New (2012–2025)

The table below shows the annual net assets of Shanghai Smith Adhesive New from 2012 to 2025. For live valuation and market cap data, see how much is Shanghai Smith Adhesive New worth.

Year	Net Assets	Change
2025-12-31	CN¥1.66 Billion ≈ $243.41 Million	+24.20%
2024-12-31	CN¥1.34 Billion ≈ $195.98 Million	+3.92%
2023-12-31	CN¥1.29 Billion ≈ $188.58 Million	+27.05%
2022-12-31	CN¥1.01 Billion ≈ $148.44 Million	+2.66%
2021-12-31	CN¥988.12 Million ≈ $144.59 Million	+2.72%
2020-12-31	CN¥962.00 Million ≈ $140.77 Million	+16.40%
2019-12-31	CN¥826.43 Million ≈ $120.93 Million	+2.07%
2018-12-31	CN¥809.64 Million ≈ $118.48 Million	+3.06%
2017-12-31	CN¥785.60 Million ≈ $114.96 Million	+61.54%
2016-12-31	CN¥486.33 Million ≈ $71.16 Million	+15.51%
2015-12-31	CN¥421.01 Million ≈ $61.61 Million	+59.44%
2014-12-31	CN¥264.06 Million ≈ $38.64 Million	+29.95%
2013-12-31	CN¥203.20 Million ≈ $29.73 Million	+51.12%
2012-12-31	CN¥134.46 Million ≈ $19.68 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Shanghai Smith Adhesive New'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 747.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥555.53 Million	33.71%
Other Components	CN¥1.09 Billion	66.29%
Total Equity	CN¥1.65 Billion	100.00%

Shanghai Smith Adhesive New Competitors by Market Cap

The table below lists competitors of Shanghai Smith Adhesive New ranked by their market capitalization.

Company	Market Cap
B.Grimm Power Public Company Limited BK:BGRIM	$1.40 Billion
Xior Student Housing NV BR:XIOR	$1.40 Billion
J & J Snack Foods Corp NASDAQ:JJSF	$1.40 Billion
Wolverine World Wide Inc NYSE:WWW	$1.40 Billion
Geo-Jade Petroleum Corp SHG:600759	$1.40 Billion
Sino Geophysical SHE:300191	$1.40 Billion
Kinnevik Investment AB ser. B ST:KINV-B	$1.40 Billion
World Kinect Corporation NYSE:WKC	$1.40 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Shanghai Smith Adhesive New's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 1,330,490,295 to 1,647,906,330, a change of 317,416,035 (23.9%).
Net income of 89,324,922 contributed positively to equity growth.
Dividend payments of 44,818,944 reduced retained earnings.
Other factors increased equity by 272,910,057.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥89.32 Million	+5.42%
Dividends Paid	CN¥44.82 Million	-2.72%
Other Changes	CN¥272.91 Million	+16.56%
Total Change	CN¥-	23.86%

Book Value vs Market Value Analysis

This analysis compares Shanghai Smith Adhesive New'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: 5.78x
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 31.86x to 5.78x 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¥1.03	CN¥32.80	x
2013-12-31	CN¥1.56	CN¥32.80	x
2014-12-31	CN¥1.94	CN¥32.80	x
2015-12-31	CN¥2.83	CN¥32.80	x
2016-12-31	CN¥2.95	CN¥32.80	x
2017-12-31	CN¥4.52	CN¥32.80	x
2018-12-31	CN¥3.69	CN¥32.80	x
2019-12-31	CN¥3.72	CN¥32.80	x
2020-12-31	CN¥4.36	CN¥32.80	x
2021-12-31	CN¥4.53	CN¥32.80	x
2022-12-31	CN¥4.53	CN¥32.80	x
2023-12-31	CN¥5.44	CN¥32.80	x
2024-12-31	CN¥5.16	CN¥32.80	x
2025-12-31	CN¥5.67	CN¥32.80	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Shanghai Smith Adhesive New 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): 5.42%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 4.12%
• Asset Turnover: 0.69x
• Equity Multiplier: 1.92x
Recent ROE (5.42%) is below the historical average (10.19%), 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	27.54%	6.97%	1.35x	2.94x	CN¥23.50 Million
2013	26.29%	8.59%	1.41x	2.16x	CN¥32.97 Million
2014	22.58%	8.56%	1.40x	1.88x	CN¥32.87 Million
2015	11.12%	7.59%	1.09x	1.35x	CN¥4.66 Million
2016	10.88%	7.85%	0.94x	1.47x	CN¥4.17 Million
2017	5.40%	5.71%	0.63x	1.51x	CN¥-35.42 Million
2018	2.90%	2.61%	0.66x	1.68x	CN¥-56.20 Million
2019	0.44%	0.37%	0.62x	1.91x	CN¥-75.59 Million
2020	16.76%	14.97%	0.63x	1.78x	CN¥62.72 Million
2021	3.29%	2.27%	0.79x	1.83x	CN¥-64.71 Million
2022	0.60%	0.41%	0.77x	1.90x	CN¥-90.99 Million
2023	4.41%	3.63%	0.73x	1.66x	CN¥-71.68 Million
2024	5.04%	3.56%	0.74x	1.92x	CN¥-66.02 Million
2025	5.42%	4.12%	0.69x	1.92x	CN¥-75.47 Million

Industry Comparison

This section compares Shanghai Smith Adhesive New's net assets metrics with peer companies in the Specialty Chemicals industry.

Industry Context

Industry: Specialty Chemicals
Average net assets among peers: $3,574,587,449
Average return on equity (ROE) among peers: 9.26%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Shanghai Smith Adhesive New (603683)	CN¥1.71 Billion	27.54%	0.89x	$1.40 Billion
Chongqing Sanxia Paints Co Ltd (000565)	$351.19 Million	0.65%	0.36x	$390.84 Million
Hengyi Petrochemical Co Ltd (000703)	$246.42 Million	-7.64%	1.62x	$6.57 Billion
Guangdong Xinhui Meida Nylon Co Ltd (000782)	$989.28 Million	9.64%	1.17x	$737.44 Million
Luxi Chemical Group Co Ltd (000830)	$17.02 Billion	4.81%	1.07x	$3.51 Billion
China Minmetals Rare Earth Co Ltd (000831)	$3.12 Billion	24.63%	0.08x	$9.61 Billion
Anhui Guofeng Plastic Industry Co Ltd (000859)	$1.08 Billion	0.46%	0.67x	$1.50 Billion
Cofco Biochemical Anhui Co Ltd (000930)	$10.20 Billion	5.81%	0.68x	$1.27 Billion
Shandong Link Science and Technology Co Ltd (001207)	$268.26 Million	17.39%	2.70x	$751.43 Million
Zhejiang Transfar Co Ltd (002010)	$104.13 Million	34.21%	0.82x	$1.98 Billion
Poly Union Chemical Holding Group Co Ltd (002037)	$2.36 Billion	2.62%	2.10x	$468.74 Million

About Shanghai Smith Adhesive New

SHG:603683 China Specialty Chemicals

Market Cap

$1.40 Billion

CN¥9.55 Billion CNY

Market Cap Rank

#7656 Global

#1789 in China

Share Price

CN¥32.80

Change (1 day)

+2.95%

52-Week Range

CN¥14.15 - CN¥36.39

All Time High

CN¥36.39