Laobaixing Pharmacy (603883) - Net Assets
Based on the latest financial reports, Laobaixing Pharmacy (603883) has net assets worth CN¥7.20 Billion CNY (≈ $1.05 Billion USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥20.34 Billion ≈ $2.98 Billion USD) and total liabilities (CN¥13.13 Billion ≈ $1.92 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 603883 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥7.20 Billion |
| % of Total Assets | 35.43% |
| Annual Growth Rate | 20.91% |
| 5-Year Change | 49.18% |
| 10-Year Change | 212.78% |
| Growth Volatility | 31.68 |
Laobaixing Pharmacy - Net Assets Trend (2011–2024)
This chart illustrates how Laobaixing Pharmacy's net assets have evolved over time, based on quarterly financial data. Also explore 603883 total assets for the complete picture of this company's asset base.
Annual Net Assets for Laobaixing Pharmacy (2011–2024)
The table below shows the annual net assets of Laobaixing Pharmacy from 2011 to 2024. For live valuation and market cap data, see market cap of Laobaixing Pharmacy.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥7.17 Billion ≈ $1.05 Billion |
-1.65% |
| 2023-12-31 | CN¥7.29 Billion ≈ $1.07 Billion |
+2.70% |
| 2022-12-31 | CN¥7.10 Billion ≈ $1.04 Billion |
+48.52% |
| 2021-12-31 | CN¥4.78 Billion ≈ $699.30 Million |
-0.55% |
| 2020-12-31 | CN¥4.81 Billion ≈ $703.18 Million |
+24.02% |
| 2019-12-31 | CN¥3.87 Billion ≈ $567.00 Million |
+15.00% |
| 2018-12-31 | CN¥3.37 Billion ≈ $493.04 Million |
+8.65% |
| 2017-12-31 | CN¥3.10 Billion ≈ $453.79 Million |
+59.41% |
| 2016-12-31 | CN¥1.95 Billion ≈ $284.66 Million |
-15.12% |
| 2015-12-31 | CN¥2.29 Billion ≈ $335.39 Million |
+111.12% |
| 2014-12-31 | CN¥1.09 Billion ≈ $158.86 Million |
+18.46% |
| 2013-12-31 | CN¥916.46 Million ≈ $134.11 Million |
+25.10% |
| 2012-12-31 | CN¥732.59 Million ≈ $107.20 Million |
+20.61% |
| 2011-12-31 | CN¥607.41 Million ≈ $88.88 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Laobaixing Pharmacy'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 1861.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥3.55 Billion | 53.95% |
| Common Stock | CN¥760.23 Million | 11.55% |
| Other Comprehensive Income | CN¥-843.11 Million | -12.81% |
| Other Components | CN¥3.11 Billion | 47.31% |
| Total Equity | CN¥6.58 Billion | 100.00% |
Laobaixing Pharmacy Competitors by Market Cap
The table below lists competitors of Laobaixing Pharmacy ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Center Power Tech Co Ltd
SHE:002733
|
$1.56 Billion |
|
Hyundai Green Food Co Ltd
KO:005440
|
$1.56 Billion |
|
Telkom
JSE:TKG
|
$1.56 Billion |
|
Quantum Computing Inc
NASDAQ:QUBT
|
$1.56 Billion |
|
Select Energy Services Inc
NYSE:WTTR
|
$1.55 Billion |
|
Glotech Industrial
TWO:5475
|
$1.55 Billion |
|
Lontium Semiconductor Corp. A
SHG:688486
|
$1.55 Billion |
|
IMDEX Ltd
AU:IMD
|
$1.55 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Laobaixing Pharmacy's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,701,235,576 to 6,580,857,270, a change of -120,378,306 (-1.8%).
- Net income of 519,063,405 contributed positively to equity growth.
- Dividend payments of 637,371,969 reduced retained earnings.
- Share repurchases of 3,862,887 reduced equity.
- Other comprehensive income increased equity by 1,563,768,130.
- Other factors decreased equity by 1,561,974,985.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥519.06 Million | +7.89% |
| Dividends Paid | CN¥637.37 Million | -9.69% |
| Share Repurchases | CN¥3.86 Million | -0.06% |
| Other Comprehensive Income | CN¥1.56 Billion | +23.76% |
| Other Changes | CN¥-1.56 Billion | -23.74% |
| Total Change | CN¥- | -1.80% |
Book Value vs Market Value Analysis
This analysis compares Laobaixing Pharmacy'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: 1.62x
- 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 9.56x to 1.62x 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¥1.46 | CN¥14.00 | x |
| 2012-12-31 | CN¥1.80 | CN¥14.00 | x |
| 2013-12-31 | CN¥2.21 | CN¥14.00 | x |
| 2014-12-31 | CN¥2.65 | CN¥14.00 | x |
| 2015-12-31 | CN¥4.97 | CN¥14.00 | x |
| 2016-12-31 | CN¥3.80 | CN¥14.00 | x |
| 2017-12-31 | CN¥5.99 | CN¥14.00 | x |
| 2018-12-31 | CN¥5.89 | CN¥14.00 | x |
| 2019-12-31 | CN¥6.64 | CN¥14.00 | x |
| 2020-12-31 | CN¥8.08 | CN¥14.00 | x |
| 2021-12-31 | CN¥8.21 | CN¥14.00 | x |
| 2022-12-31 | CN¥11.31 | CN¥14.00 | x |
| 2023-12-31 | CN¥8.82 | CN¥14.00 | x |
| 2024-12-31 | CN¥8.62 | CN¥14.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Laobaixing Pharmacy 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): 7.89%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 2.32%
- • Asset Turnover: 1.01x
- • Equity Multiplier: 3.37x
- Recent ROE (7.89%) is below the historical average (15.03%), 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 | 18.39% | 4.01% | 1.62x | 2.83x | CN¥45.16 Million |
| 2012 | 19.26% | 4.40% | 1.76x | 2.49x | CN¥60.13 Million |
| 2013 | 19.85% | 4.84% | 1.52x | 2.69x | CN¥79.74 Million |
| 2014 | 20.91% | 5.13% | 1.56x | 2.61x | CN¥105.59 Million |
| 2015 | 10.84% | 5.26% | 1.20x | 1.71x | CN¥18.66 Million |
| 2016 | 16.05% | 4.87% | 1.24x | 2.65x | CN¥111.86 Million |
| 2017 | 12.65% | 4.94% | 1.12x | 2.29x | CN¥77.72 Million |
| 2018 | 14.28% | 4.59% | 1.12x | 2.79x | CN¥130.42 Million |
| 2019 | 14.59% | 4.36% | 1.18x | 2.85x | CN¥160.00 Million |
| 2020 | 14.48% | 4.45% | 1.24x | 2.63x | CN¥192.10 Million |
| 2021 | 15.36% | 4.26% | 0.93x | 3.89x | CN¥233.48 Million |
| 2022 | 12.02% | 3.89% | 0.94x | 3.28x | CN¥131.97 Million |
| 2023 | 13.86% | 4.14% | 1.06x | 3.17x | CN¥258.90 Million |
| 2024 | 7.89% | 2.32% | 1.01x | 3.37x | CN¥-139.02 Million |
Industry Comparison
This section compares Laobaixing Pharmacy's net assets metrics with peer companies in the Pharmaceutical Retailers industry.
Industry Context
- Industry: Pharmaceutical Retailers
- Average net assets among peers: $2,189,975,826
- Average return on equity (ROE) among peers: 13.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Laobaixing Pharmacy (603883) | CN¥7.20 Billion | 18.39% | 1.82x | $1.55 Billion |
| Cachet Pharmaceutical Co Ltd (002462) | $2.20 Billion | 7.86% | 1.67x | $589.07 Million |
| Yunnan Hongxiang Yixintang (002727) | $810.77 Million | 22.52% | 0.88x | $1.09 Billion |
| Luyan Pharma Co Ltd (002788) | $649.30 Million | 16.84% | 4.10x | $776.60 Million |
| Ji Yao Holding Group Co Ltd (300108) | $82.07 Million | 28.65% | 0.28x | $20.47 Million |
| ShuYu Civilian Pharmacy Corp. Ltd. (301017) | $1.91 Billion | 6.00% | 1.61x | $778.12 Million |
| Hunan Dajiaweikang Pharmaceutical Industry Co.Ltd (301126) | $1.04 Billion | 6.23% | 1.11x | $357.38 Million |
| Anhui Huaren Health Pharmaceutical Co. Ltd. Cl A (301408) | $947.01 Million | 16.98% | 1.72x | $1.25 Billion |
| Shanghai No1 Pharmacy Co Ltd (600833) | $669.57 Million | 7.05% | 0.61x | $403.16 Million |
| Yifeng Pharmacy (603939) | $11.39 Billion | 13.42% | 1.46x | $4.12 Billion |
About Laobaixing Pharmacy
LBX Pharmacy Chain Joint Stock Company operates a chain of pharmacy stores in Mainland China. The company operates through three segments: Retail business, Wholesale business, and Other. It engages in commodity retail and wholesale business; and pharmaceutical manufacturing business and others, as well as sells drugs, and other health and beauty-related products through its marketing network. The… Read more