Hangzhou First PV Material Co Ltd
Hangzhou First Applied Material Co., Ltd., together with its subsidiaries, designs, develops, manufactures, and sells solar battery encapsulation materials in China and internationally. It operates through Photovoltaic Film, Photovoltaic Backplane, Solar Power Generation System, Aluminum plastic film, and Photosensitive Dry Film segments. The company offers encapsulant EVA films, polyolefin films… Read more
Hangzhou First PV Material Co Ltd (603806) - Net Assets
Latest net assets as of September 2025: CN¥16.08 Billion CNY
Based on the latest financial reports, Hangzhou First PV Material Co Ltd (603806) has net assets worth CN¥16.08 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¥20.68 Billion) and total liabilities (CN¥4.60 Billion). 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¥16.08 Billion |
| % of Total Assets | 77.74% |
| Annual Growth Rate | 35.15% |
| 5-Year Change | 84.04% |
| 10-Year Change | 289.31% |
| Growth Volatility | 74.09 |
Hangzhou First PV Material Co Ltd - Net Assets Trend (2009–2024)
This chart illustrates how Hangzhou First PV Material Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Hangzhou First PV Material Co Ltd (2009–2024)
The table below shows the annual net assets of Hangzhou First PV Material Co Ltd from 2009 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥16.62 Billion | +5.19% |
| 2023-12-31 | CN¥15.80 Billion | +12.76% |
| 2022-12-31 | CN¥14.01 Billion | +14.93% |
| 2021-12-31 | CN¥12.19 Billion | +35.01% |
| 2020-12-31 | CN¥9.03 Billion | +38.29% |
| 2019-12-31 | CN¥6.53 Billion | +17.52% |
| 2018-12-31 | CN¥5.56 Billion | +10.48% |
| 2017-12-31 | CN¥5.03 Billion | +3.87% |
| 2016-12-31 | CN¥4.84 Billion | +13.42% |
| 2015-12-31 | CN¥4.27 Billion | +12.27% |
| 2014-12-31 | CN¥3.80 Billion | +100.00% |
| 2013-12-31 | CN¥1.90 Billion | +5.53% |
| 2012-12-31 | CN¥1.80 Billion | +38.68% |
| 2011-12-31 | CN¥1.30 Billion | +77.24% |
| 2010-12-31 | CN¥732.90 Million | +304.44% |
| 2009-12-31 | CN¥181.21 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hangzhou First PV Material Co Ltd'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 18064.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥10.30 Billion | 62.78% |
| Common Stock | CN¥2.61 Billion | 15.89% |
| Other Comprehensive Income | CN¥908.93 Million | 5.54% |
| Other Components | CN¥2.59 Billion | 15.79% |
| Total Equity | CN¥16.41 Billion | 100.00% |
Hangzhou First PV Material Co Ltd Competitors by Market Cap
The table below lists competitors of Hangzhou First PV Material Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
360 Finance Inc
NASDAQ:QFIN
|
$2.34 Billion |
|
Transwarp Technology (Shanghai) Co. Ltd. A
SHG:688031
|
$2.34 Billion |
|
MONETA MONEY BANK KC 20
F:MM0
|
$2.34 Billion |
|
Ringcentral Inc
NYSE:RNG
|
$2.34 Billion |
|
Bank Millennium S.A.
WAR:MIL
|
$2.33 Billion |
|
Chenzhou Jingui Silver Industry Co Ltd
SHE:002716
|
$2.33 Billion |
|
Zhejiang XCC Group Co Ltd
SHG:603667
|
$2.33 Billion |
|
IDEAYA BIOSCIENCE DL-01
F:30J
|
$2.33 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hangzhou First PV Material Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 15,069,321,246 to 16,412,409,543, a change of 1,343,088,297 (8.9%).
- Net income of 1,307,559,527 contributed positively to equity growth.
- Dividend payments of 524,054,991 reduced retained earnings.
- Share repurchases of 9,102,443 reduced equity.
- Other comprehensive income increased equity by 125,060,570.
- Other factors increased equity by 443,625,634.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥1.31 Billion | +7.97% |
| Dividends Paid | CN¥524.05 Million | -3.19% |
| Share Repurchases | CN¥9.10 Million | -0.06% |
| Other Comprehensive Income | CN¥125.06 Million | +0.76% |
| Other Changes | CN¥443.63 Million | +2.7% |
| Total Change | CN¥- | 8.91% |
Book Value vs Market Value Analysis
This analysis compares Hangzhou First PV Material Co Ltd'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: 2.78x
- 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 141.79x to 2.78x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | CN¥0.12 | CN¥17.47 | x |
| 2010-12-31 | CN¥0.50 | CN¥17.47 | x |
| 2011-12-31 | CN¥0.89 | CN¥17.47 | x |
| 2012-12-31 | CN¥1.23 | CN¥17.47 | x |
| 2013-12-31 | CN¥1.30 | CN¥17.47 | x |
| 2014-12-31 | CN¥3.48 | CN¥17.47 | x |
| 2015-12-31 | CN¥5.47 | CN¥17.47 | x |
| 2016-12-31 | CN¥2.81 | CN¥17.47 | x |
| 2017-12-31 | CN¥2.92 | CN¥17.47 | x |
| 2018-12-31 | CN¥3.23 | CN¥17.47 | x |
| 2019-12-31 | CN¥3.79 | CN¥17.47 | x |
| 2020-12-31 | CN¥4.99 | CN¥17.47 | x |
| 2021-12-31 | CN¥6.65 | CN¥17.47 | x |
| 2022-12-31 | CN¥7.46 | CN¥17.47 | x |
| 2023-12-31 | CN¥5.78 | CN¥17.47 | x |
| 2024-12-31 | CN¥6.28 | CN¥17.47 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hangzhou First PV Material Co Ltd 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): 7.97%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.83%
- • Asset Turnover: 0.90x
- • Equity Multiplier: 1.29x
- Recent ROE (7.97%) is below the historical average (25.04%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 68.26% | 29.20% | 1.24x | 1.88x | CN¥105.57 Million |
| 2010 | 75.27% | 32.39% | 1.86x | 1.25x | CN¥478.39 Million |
| 2011 | 47.04% | 24.85% | 1.65x | 1.15x | CN¥481.17 Million |
| 2012 | 27.89% | 22.90% | 1.04x | 1.17x | CN¥322.33 Million |
| 2013 | 31.33% | 30.43% | 0.83x | 1.23x | CN¥405.44 Million |
| 2014 | 11.36% | 18.11% | 0.56x | 1.12x | CN¥51.88 Million |
| 2015 | 15.16% | 19.42% | 0.69x | 1.13x | CN¥220.44 Million |
| 2016 | 17.52% | 21.45% | 0.72x | 1.14x | CN¥363.74 Million |
| 2017 | 11.64% | 12.76% | 0.80x | 1.13x | CN¥82.50 Million |
| 2018 | 13.53% | 15.62% | 0.75x | 1.16x | CN¥195.87 Million |
| 2019 | 14.67% | 15.01% | 0.77x | 1.27x | CN¥304.56 Million |
| 2020 | 17.34% | 18.65% | 0.73x | 1.28x | CN¥662.52 Million |
| 2021 | 18.04% | 17.08% | 0.94x | 1.12x | CN¥978.93 Million |
| 2022 | 11.29% | 8.36% | 0.93x | 1.44x | CN¥180.47 Million |
| 2023 | 12.28% | 8.19% | 1.03x | 1.45x | CN¥343.23 Million |
| 2024 | 7.97% | 6.83% | 0.90x | 1.29x | CN¥-333.68 Million |
Industry Comparison
This section compares Hangzhou First PV Material Co Ltd's net assets metrics with peer companies in the Semiconductor Equipment & Materials industry.
Industry Context
- Industry: Semiconductor Equipment & Materials
- Average net assets among peers: $20,570,804,952
- Average return on equity (ROE) among peers: 8.41%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hangzhou First PV Material Co Ltd (603806) | CN¥16.08 Billion | 68.26% | 0.29x | $2.34 Billion |
| TCL Corp (000100) | $132.14 Billion | 0.20% | 1.72x | $11.00 Billion |
| Inner Mongolia Ojing Science & Technology Co. Ltd. A (001269) | $470.47 Million | 28.36% | 1.12x | $193.39 Million |
| TCL Zhonghuan Renewable Energy Technology Co Ltd (002129) | $47.06 Billion | 14.49% | 1.32x | $3.68 Billion |
| TongFu Microelectronics Co Ltd (002156) | $222.39 Million | 16.98% | 3.34x | $6.97 Billion |
| Tianshui Huatian Technology Co Ltd (002185) | $19.12 Billion | 1.18% | 0.76x | $4.61 Billion |
| NAURA Technology Group Co Ltd (002371) | $3.36 Billion | 2.76% | 0.94x | $23.27 Billion |
| Jiangsu Yoke Technology Co Ltd (002409) | $1.25 Billion | 6.30% | 0.11x | $3.07 Billion |
| Guangdong Huafeng New Energy Technology Co Ltd (002806) | $1.01 Billion | 8.50% | 1.05x | $204.60 Million |
| Zhejiang Mtcn Technology Co Ltd (003026) | $44.34 Million | 1.04% | 0.46x | $308.98 Million |
| Hubei Tech Semiconductors Co (300046) | $1.03 Billion | 4.28% | 0.07x | $823.72 Million |