Shanghai Smith Adhesive New (603683) - Net Assets
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. Also explore Shanghai Smith Adhesive New balance sheet assets for the complete picture of this company's asset 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. Check 603683 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
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 Shanghai Smith Adhesive New (603683) market capitalisation.
| 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 |
|---|---|
|
Hangzhou Bio-Sincerity Pharma-Tech Co.Ltd.
SHE:301096
|
$668.75 Million |
|
Prima Marine Public Company Limited
BK:PRM
|
$668.78 Million |
|
Algoma Central Corporation
TO:ALC
|
$669.09 Million |
|
QuinStreet Inc
NASDAQ:QNST
|
$669.11 Million |
|
Shenzhen Strongteam Decoration Engineering Co Ltd
SHE:002989
|
$668.24 Million |
|
J.S. Corrugating Machinery Co Ltd
SHE:000821
|
$668.10 Million |
|
Hypoport SE
XETRA:HYQ
|
$668.08 Million |
|
Beijing Global Safety Technology Co Ltd
SHE:300523
|
$667.91 Million |
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: 2.77x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 15.24x to 2.77x 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¥15.69 | x |
| 2013-12-31 | CN¥1.56 | CN¥15.69 | x |
| 2014-12-31 | CN¥1.94 | CN¥15.69 | x |
| 2015-12-31 | CN¥2.83 | CN¥15.69 | x |
| 2016-12-31 | CN¥2.95 | CN¥15.69 | x |
| 2017-12-31 | CN¥4.52 | CN¥15.69 | x |
| 2018-12-31 | CN¥3.69 | CN¥15.69 | x |
| 2019-12-31 | CN¥3.72 | CN¥15.69 | x |
| 2020-12-31 | CN¥4.36 | CN¥15.69 | x |
| 2021-12-31 | CN¥4.53 | CN¥15.69 | x |
| 2022-12-31 | CN¥4.53 | CN¥15.69 | x |
| 2023-12-31 | CN¥5.44 | CN¥15.69 | x |
| 2024-12-31 | CN¥5.16 | CN¥15.69 | x |
| 2025-12-31 | CN¥5.67 | CN¥15.69 | 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: $3,134,350,548
- Average return on equity (ROE) among peers: 8.63%
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 | $668.51 Million |
| Chongqing Sanxia Paints Co Ltd (000565) | $190.36 Million | 11.29% | 0.83x | $374.34 Million |
| Hengyi Petrochemical Co Ltd (000703) | $22.27 Billion | 8.41% | 1.68x | $9.07 Billion |
| Guangdong Xinhui Meida Nylon Co Ltd (000782) | $964.66 Million | 9.99% | 1.51x | $759.54 Million |
| Luxi Chemical Group Co Ltd (000830) | $1.14 Billion | 6.96% | 1.67x | $3.58 Billion |
| China Minmetals Rare Earth Co Ltd (000831) | $2.74 Billion | 9.31% | 0.09x | $8.07 Billion |
| Anhui Guofeng Plastic Industry Co Ltd (000859) | $558.99 Million | 10.59% | 0.58x | $1.17 Billion |
| Cofco Biochemical Anhui Co Ltd (000930) | $2.03 Billion | 2.67% | 2.54x | $1.29 Billion |
| Shandong Link Science and Technology Co Ltd (001207) | $211.24 Million | 7.97% | 2.37x | $691.99 Million |
| Zhejiang Transfar Co Ltd (002010) | $740.36 Million | 11.17% | 0.60x | $1.97 Billion |
| Poly Union Chemical Holding Group Co Ltd (002037) | $490.45 Million | 7.95% | 0.50x | $494.94 Million |
About Shanghai Smith Adhesive New
Shanghai Smith Adhesive New Material Co.,Ltd manufactures and sells various adhesive tapes and adhesives in China. The company offers industrial materials, including masking, duct, rice paper, electronics, foam, aluminum foil, covering, double sided, and kraft paper tapes, as well as BOPP tapes; electronic materials, which comprise PET, blue film, transfer, conductive, PE foam, tissue, and firepr… Read more