Xingguang Agricultural Mach
Thinker Agricultural Machinery Co., Ltd. engages in the research and development, manufacture, sale, and service of agricultural machinery in China and internationally. Its products include grain harvesting, grain crop harvesting, grain processing, farming, power, and hay harvesting machineries. The company was founded in 2004 and is based in Huzhou, China.
Xingguang Agricultural Mach (603789) - Net Assets
Latest net assets as of September 2025: CN¥255.30 Million CNY
Based on the latest financial reports, Xingguang Agricultural Mach (603789) has net assets worth CN¥255.30 Million 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¥1.24 Billion) and total liabilities (CN¥988.29 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¥255.30 Million |
| % of Total Assets | 20.53% |
| Annual Growth Rate | -0.23% |
| 5-Year Change | -67.61% |
| 10-Year Change | -72.48% |
| Growth Volatility | 32.34 |
Xingguang Agricultural Mach - Net Assets Trend (2011–2024)
This chart illustrates how Xingguang Agricultural Mach's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Xingguang Agricultural Mach (2011–2024)
The table below shows the annual net assets of Xingguang Agricultural Mach from 2011 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥283.84 Million | -38.77% |
| 2023-12-31 | CN¥463.59 Million | -9.71% |
| 2022-12-31 | CN¥513.46 Million | -22.55% |
| 2021-12-31 | CN¥662.92 Million | -24.35% |
| 2020-12-31 | CN¥876.28 Million | -21.36% |
| 2019-12-31 | CN¥1.11 Billion | +1.50% |
| 2018-12-31 | CN¥1.10 Billion | -3.15% |
| 2017-12-31 | CN¥1.13 Billion | +2.20% |
| 2016-12-31 | CN¥1.11 Billion | +7.55% |
| 2015-12-31 | CN¥1.03 Billion | +93.71% |
| 2014-12-31 | CN¥532.36 Million | +9.94% |
| 2013-12-31 | CN¥484.22 Million | +24.13% |
| 2012-12-31 | CN¥390.08 Million | +33.46% |
| 2011-12-31 | CN¥292.28 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Xingguang Agricultural Mach'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 4747.1% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CN¥270.45 Million | 110.96% |
| Other Comprehensive Income | CN¥17.17 Million | 7.04% |
| Other Components | CN¥590.00 Million | 242.06% |
| Total Equity | CN¥243.74 Million | 100.00% |
Xingguang Agricultural Mach Competitors by Market Cap
The table below lists competitors of Xingguang Agricultural Mach ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Falcon Oil & Gas Ltd.
PINK:FOLGF
|
$75.61 Million |
|
ATW Technology Inc
TWO:8097
|
$75.62 Million |
|
Pacific Century Regional Developments Limited
F:PFQ
|
$75.65 Million |
|
Satellos Bioscience Inc
OTCQB:MSCLF
|
$75.67 Million |
|
Galaxy Far East
TWO:6227
|
$75.60 Million |
|
Eltel AB (publ)
F:E5E
|
$75.60 Million |
|
Keyang Elec Ma
KO:012200
|
$75.59 Million |
|
Administradora Americana de Inversiones S.A.
SN:AAISA
|
$75.58 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Xingguang Agricultural Mach's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 419,198,745 to 243,742,828, a change of -175,455,917 (-41.9%).
- Net loss of 175,060,501 reduced equity.
- Dividend payments of 11,944,450 reduced retained earnings.
- Share repurchases of 32,634,844 reduced equity.
- Other comprehensive income decreased equity by 4,709,301.
- Other factors increased equity by 48,893,179.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-175.06 Million | -71.82% |
| Dividends Paid | CN¥11.94 Million | -4.9% |
| Share Repurchases | CN¥32.63 Million | -13.39% |
| Other Comprehensive Income | CN¥-4.71 Million | -1.93% |
| Other Changes | CN¥48.89 Million | +20.06% |
| Total Change | CN¥- | -41.86% |
Book Value vs Market Value Analysis
This analysis compares Xingguang Agricultural Mach'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: 6.01x
- 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 increased from 3.58x to 6.01x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-12-31 | CN¥1.50 | CN¥5.37 | x |
| 2012-12-31 | CN¥2.00 | CN¥5.37 | x |
| 2013-12-31 | CN¥2.48 | CN¥5.37 | x |
| 2014-12-31 | CN¥2.73 | CN¥5.37 | x |
| 2015-12-31 | CN¥4.33 | CN¥5.37 | x |
| 2016-12-31 | CN¥4.08 | CN¥5.37 | x |
| 2017-12-31 | CN¥4.13 | CN¥5.37 | x |
| 2018-12-31 | CN¥3.94 | CN¥5.37 | x |
| 2019-12-31 | CN¥4.01 | CN¥5.37 | x |
| 2020-12-31 | CN¥3.02 | CN¥5.37 | x |
| 2021-12-31 | CN¥2.38 | CN¥5.37 | x |
| 2022-12-31 | CN¥1.80 | CN¥5.37 | x |
| 2023-12-31 | CN¥1.61 | CN¥5.37 | x |
| 2024-12-31 | CN¥0.89 | CN¥5.37 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Xingguang Agricultural Mach 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): -71.82%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -64.98%
- • Asset Turnover: 0.23x
- • Equity Multiplier: 4.76x
- Recent ROE (-71.82%) is below the historical average (-3.05%), 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 | 36.92% | 21.35% | 1.01x | 1.72x | CN¥78.68 Million |
| 2012 | 45.17% | 23.19% | 1.06x | 1.85x | CN¥137.20 Million |
| 2013 | 31.34% | 25.00% | 0.91x | 1.38x | CN¥103.31 Million |
| 2014 | 23.69% | 21.88% | 0.69x | 1.56x | CN¥72.87 Million |
| 2015 | 7.70% | 13.57% | 0.52x | 1.09x | CN¥-23.69 Million |
| 2016 | 3.11% | 6.37% | 0.34x | 1.45x | CN¥-73.56 Million |
| 2017 | 2.34% | 3.96% | 0.44x | 1.35x | CN¥-82.84 Million |
| 2018 | -5.68% | -9.83% | 0.37x | 1.57x | CN¥-161.56 Million |
| 2019 | 1.16% | 1.71% | 0.41x | 1.65x | CN¥-92.30 Million |
| 2020 | -37.89% | -119.90% | 0.18x | 1.78x | CN¥-376.46 Million |
| 2021 | -31.22% | -48.03% | 0.30x | 2.15x | CN¥-254.83 Million |
| 2022 | -34.21% | -65.64% | 0.23x | 2.30x | CN¥-206.90 Million |
| 2023 | -13.31% | -18.09% | 0.24x | 3.09x | CN¥-97.71 Million |
| 2024 | -71.82% | -64.98% | 0.23x | 4.76x | CN¥-199.43 Million |
Industry Comparison
This section compares Xingguang Agricultural Mach's net assets metrics with peer companies in the Farm & Heavy Construction Machinery industry.
Industry Context
- Industry: Farm & Heavy Construction Machinery
- Average net assets among peers: $4,713,679,816
- Average return on equity (ROE) among peers: 9.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Xingguang Agricultural Mach (603789) | CN¥255.30 Million | 36.92% | 3.87x | $75.61 Million |
| XCMG Construction Machinery Co Ltd (000425) | $20.48 Billion | 1.02% | 1.15x | $11.30 Billion |
| Guangxi Liugong Machinery Co Ltd (000528) | $737.85 Million | 2.72% | 0.71x | $1.96 Billion |
| Shantui Construction Machinery Co Ltd (000680) | $4.51 Billion | 1.03% | 1.49x | $1.25 Billion |
| JiangSu JiangHuai Engine Co Ltd (000816) | $2.54 Billion | -0.35% | 0.35x | $528.05 Million |
| Sinotruk Jinan Truck Co Ltd (000951) | $14.59 Billion | 1.46% | 1.36x | $1.65 Billion |
| Zhongtong Bus Holding Co Ltd (000957) | $474.72 Million | 1.13% | 1.63x | $610.98 Million |
| Anhui Tuoshan Heavy Industry Co. Ltd. (001226) | $252.67 Million | 34.83% | 1.21x | $123.77 Million |
| Nanchang Mineral Systems Co. Ltd. A (001360) | $569.40 Million | 21.21% | 1.34x | $202.86 Million |
| Sunward Intelligent Equipment Co Ltd (002097) | $163.46 Million | 23.10% | 1.31x | $970.29 Million |
| Weihai Guangtai Airport Equipment Co Ltd (002111) | $2.82 Billion | 8.32% | 0.62x | $383.43 Million |