Laobaixing Pharmacy Net Assets
Laobaixing Pharmacy net assets. Based on the latest financial reports, Laobaixing Pharmacy (603883) has net assets worth CN¥7.30 Billion CNY (≈ $1.07 Billion 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¥19.91 Billion ≈ $2.91 Billion USD) and total liabilities (CN¥12.61 Billion ≈ $1.85 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. Also explore how fast is Laobaixing Pharmacy growing its equity to track the company's year-over-year net asset growth rate.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥7.30 Billion |
| % of Total Assets | 36.66% |
| Annual Growth Rate | 19.07% |
| 5-Year Change | 46.4% |
| 10-Year Change | 259.63% |
| Growth Volatility | 31.3 |
Net Assets of Laobaixing Pharmacy (2011–2025)
Net assets of Laobaixing Pharmacy from 2011 to 2025. This chart illustrates how Laobaixing Pharmacy's net assets have evolved over time, based on quarterly financial data. See 603883 net asset quality index to measure how much of total assets are equity-financed.
Annual Net Assets for Laobaixing Pharmacy (2011–2025)
The table below shows the annual net assets of Laobaixing Pharmacy from 2011 to 2025. For live market cap and overall valuation, see market cap of Laobaixing Pharmacy.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥7.00 Billion ≈ $1.02 Billion |
-2.41% |
| 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 1953.3% over the analyzed period, indicating profitable operations and earnings retention.
Laobaixing Pharmacy Net Assets Breakdown (December 2025)
Laobaixing Pharmacy net assets breakdown by equity component as of December 2025.
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥3.72 Billion | 56.86% |
| Other Components | CN¥2.82 Billion | 43.14% |
| Total Equity | CN¥6.54 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 |
|---|---|
|
ASBISc Enterprises PLC
WAR:ASB
|
$1.66 Billion |
|
Lindblad Expeditions Holdings Inc
NASDAQ:LIND
|
$1.66 Billion |
|
Husqvarna AB (publ)
ST:HUSQ-B
|
$1.66 Billion |
|
Robertet SA
PA:RBT
|
$1.66 Billion |
|
Apollo Micro Systems Limited
NSE:APOLLO
|
$1.66 Billion |
|
Telkom
JSE:TKG
|
$1.66 Billion |
|
Sarda Energy & Minerals Limited
NSE:SARDAEN
|
$1.66 Billion |
|
PC Jeweller Limited
NSE:PCJEWELLER
|
$1.66 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 2024 to 2025, total equity changed from 6,580,857,270 to 6,535,391,985, a change of -45,465,285 (-0.7%).
- Net income of 381,846,593 contributed positively to equity growth.
- Dividend payments of 224,619,171 reduced retained earnings.
- Other comprehensive income increased equity by 843,114,804.
- Other factors decreased equity by 1,045,807,511.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥381.85 Million | +5.84% |
| Dividends Paid | CN¥224.62 Million | -3.44% |
| Other Comprehensive Income | CN¥843.11 Million | +12.9% |
| Other Changes | CN¥-1.05 Billion | -16.0% |
| Total Change | CN¥- | -0.69% |
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: 1.74x
- 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 10.23x to 1.74x 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¥14.97 | x |
| 2012-12-31 | CN¥1.80 | CN¥14.97 | x |
| 2013-12-31 | CN¥2.21 | CN¥14.97 | x |
| 2014-12-31 | CN¥2.65 | CN¥14.97 | x |
| 2015-12-31 | CN¥4.97 | CN¥14.97 | x |
| 2016-12-31 | CN¥3.80 | CN¥14.97 | x |
| 2017-12-31 | CN¥5.99 | CN¥14.97 | x |
| 2018-12-31 | CN¥5.89 | CN¥14.97 | x |
| 2019-12-31 | CN¥6.64 | CN¥14.97 | x |
| 2020-12-31 | CN¥8.08 | CN¥14.97 | x |
| 2021-12-31 | CN¥8.21 | CN¥14.97 | x |
| 2022-12-31 | CN¥11.31 | CN¥14.97 | x |
| 2023-12-31 | CN¥8.82 | CN¥14.97 | x |
| 2024-12-31 | CN¥8.62 | CN¥14.97 | x |
| 2025-12-31 | CN¥8.61 | CN¥14.97 | 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): 5.84%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.72%
- • Asset Turnover: 1.12x
- • Equity Multiplier: 3.04x
- Recent ROE (5.84%) is below the historical average (14.42%), 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 |
| 2025 | 5.84% | 1.72% | 1.12x | 3.04x | CN¥-271.69 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: $1,643,057,721
- Average return on equity (ROE) among peers: 17.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Laobaixing Pharmacy (603883) | CN¥7.30 Billion | 18.39% | 1.73x | $1.66 Billion |
| Cachet Pharmaceutical Co Ltd (002462) | $6.06 Billion | 2.65% | 1.31x | $459.73 Million |
| Yunnan Hongxiang Yixintang (002727) | $262.78 Million | 32.29% | 1.61x | $1.16 Billion |
| Luyan Pharma Co Ltd (002788) | $3.32 Billion | 8.45% | 3.03x | $541.80 Million |
| Ji Yao Holding Group Co Ltd (300108) | $82.07 Million | 28.65% | 0.28x | $20.47 Million |
| ShuYu Civilian Pharmacy Corp. Ltd. (301017) | $2.27 Billion | 10.12% | 2.47x | $851.12 Million |
| Hunan Dajiaweikang Pharmaceutical Industry Co.Ltd (301126) | $977.24 Million | 8.97% | 1.06x | $264.80 Million |
| Anhui Huaren Health Pharmaceutical Co. Ltd. Cl A (301408) | $947.01 Million | 16.98% | 1.72x | $808.36 Million |
| Shanghai No1 Pharmacy Co Ltd (600833) | $287.59 Million | 6.55% | 3.23x | $306.53 Million |
| Dashenlin Pharm Grp Co Ltd (603233) | $574.85 Million | 46.19% | 3.11x | $3.58 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