Zhejiang Xinao Textiles Inc (603889) - Net Assets
Based on the latest financial reports, Zhejiang Xinao Textiles Inc (603889) has net assets worth CN¥3.95 Billion CNY (≈ $577.41 Million 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¥6.57 Billion ≈ $962.06 Million USD) and total liabilities (CN¥2.63 Billion ≈ $384.66 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. Check Zhejiang Xinao Textiles Inc (603889) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥3.95 Billion |
| % of Total Assets | 60.02% |
| Annual Growth Rate | 19.16% |
| 5-Year Change | 37.84% |
| 10-Year Change | 222.57% |
| Growth Volatility | 31.22 |
Zhejiang Xinao Textiles Inc - Net Assets Trend (2011–2024)
This chart illustrates how Zhejiang Xinao Textiles Inc's net assets have evolved over time, based on quarterly financial data. Also explore Zhejiang Xinao Textiles Inc asset portfolio for the complete picture of this company's asset base.
Annual Net Assets for Zhejiang Xinao Textiles Inc (2011–2024)
The table below shows the annual net assets of Zhejiang Xinao Textiles Inc from 2011 to 2024. For live valuation and market cap data, see Zhejiang Xinao Textiles Inc (603889) market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥3.55 Billion ≈ $519.66 Million |
+7.76% |
| 2023-12-31 | CN¥3.30 Billion ≈ $482.24 Million |
+8.72% |
| 2022-12-31 | CN¥3.03 Billion ≈ $443.57 Million |
+9.15% |
| 2021-12-31 | CN¥2.78 Billion ≈ $406.37 Million |
+7.79% |
| 2020-12-31 | CN¥2.58 Billion ≈ $377.01 Million |
+7.45% |
| 2019-12-31 | CN¥2.40 Billion ≈ $350.88 Million |
+1.13% |
| 2018-12-31 | CN¥2.37 Billion ≈ $346.95 Million |
+5.29% |
| 2017-12-31 | CN¥2.25 Billion ≈ $329.52 Million |
+85.78% |
| 2016-12-31 | CN¥1.21 Billion ≈ $177.38 Million |
+10.10% |
| 2015-12-31 | CN¥1.10 Billion ≈ $161.10 Million |
+7.97% |
| 2014-12-31 | CN¥1.02 Billion ≈ $149.21 Million |
+102.94% |
| 2013-12-31 | CN¥502.45 Million ≈ $73.52 Million |
+19.21% |
| 2012-12-31 | CN¥421.50 Million ≈ $61.68 Million |
+16.00% |
| 2011-12-31 | CN¥363.35 Million ≈ $53.17 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Zhejiang Xinao Textiles Inc'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 649.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥1.59 Billion | 46.70% |
| Common Stock | CN¥730.49 Million | 21.46% |
| Other Comprehensive Income | CN¥-4.58 Million | -0.13% |
| Other Components | CN¥1.09 Billion | 31.97% |
| Total Equity | CN¥3.40 Billion | 100.00% |
Zhejiang Xinao Textiles Inc Competitors by Market Cap
The table below lists competitors of Zhejiang Xinao Textiles Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Morguard Corporation
TO:MRC
|
$930.79 Million |
|
Dynavox Group
ST:DYVOX
|
$930.88 Million |
|
Alarko Holding AS
IS:ALARK
|
$930.89 Million |
|
Jiangsu Huaxicun Co Ltd
SHE:000936
|
$930.90 Million |
|
Xvivo Perfusion AB
ST:XVIVO
|
$930.17 Million |
|
Sensirion Holding AG
SW:SENS
|
$930.10 Million |
|
Voltalia SA
PA:VLTSA
|
$929.74 Million |
|
Surya Citra Media Tbk
JK:SCMA
|
$929.73 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Zhejiang Xinao Textiles Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,170,360,509 to 3,403,635,216, a change of 233,274,707 (7.4%).
- Net income of 428,297,429 contributed positively to equity growth.
- Dividend payments of 263,782,005 reduced retained earnings.
- Share repurchases of 628,650 reduced equity.
- Other comprehensive income decreased equity by 10,807,343.
- Other factors increased equity by 80,195,276.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥428.30 Million | +12.58% |
| Dividends Paid | CN¥263.78 Million | -7.75% |
| Share Repurchases | CN¥628.65K | -0.02% |
| Other Comprehensive Income | CN¥-10.81 Million | -0.32% |
| Other Changes | CN¥80.20 Million | +2.36% |
| Total Change | CN¥- | 7.36% |
Book Value vs Market Value Analysis
This analysis compares Zhejiang Xinao Textiles Inc'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: 1.86x
- 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 11.92x to 1.86x 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¥0.73 | CN¥8.71 | x |
| 2012-12-31 | CN¥0.86 | CN¥8.71 | x |
| 2013-12-31 | CN¥1.04 | CN¥8.71 | x |
| 2014-12-31 | CN¥1.99 | CN¥8.71 | x |
| 2015-12-31 | CN¥1.82 | CN¥8.71 | x |
| 2016-12-31 | CN¥2.05 | CN¥8.71 | x |
| 2017-12-31 | CN¥3.48 | CN¥8.71 | x |
| 2018-12-31 | CN¥3.28 | CN¥8.71 | x |
| 2019-12-31 | CN¥3.31 | CN¥8.71 | x |
| 2020-12-31 | CN¥3.53 | CN¥8.71 | x |
| 2021-12-31 | CN¥5.44 | CN¥8.71 | x |
| 2022-12-31 | CN¥4.13 | CN¥8.71 | x |
| 2023-12-31 | CN¥4.39 | CN¥8.71 | x |
| 2024-12-31 | CN¥4.69 | CN¥8.71 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Zhejiang Xinao Textiles Inc 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): 12.58%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.85%
- • Asset Turnover: 0.85x
- • Equity Multiplier: 1.67x
- Recent ROE (12.58%) is below the historical average (13.55%), 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 | 30.83% | 6.69% | 1.63x | 2.83x | CN¥66.34 Million |
| 2012 | 20.64% | 5.21% | 1.64x | 2.41x | CN¥39.98 Million |
| 2013 | 21.32% | 6.77% | 1.27x | 2.47x | CN¥51.37 Million |
| 2014 | 11.74% | 7.41% | 0.93x | 1.70x | CN¥16.84 Million |
| 2015 | 12.39% | 8.15% | 1.13x | 1.34x | CN¥25.51 Million |
| 2016 | 13.41% | 8.68% | 1.10x | 1.40x | CN¥40.46 Million |
| 2017 | 9.32% | 8.97% | 0.86x | 1.21x | CN¥-15.18 Million |
| 2018 | 8.50% | 7.77% | 0.84x | 1.30x | CN¥-35.06 Million |
| 2019 | 6.04% | 5.29% | 0.88x | 1.30x | CN¥-93.75 Million |
| 2020 | 5.99% | 6.66% | 0.70x | 1.29x | CN¥-101.47 Million |
| 2021 | 10.98% | 8.66% | 0.87x | 1.46x | CN¥26.50 Million |
| 2022 | 13.18% | 9.87% | 0.85x | 1.57x | CN¥94.07 Million |
| 2023 | 12.75% | 9.11% | 0.79x | 1.78x | CN¥87.18 Million |
| 2024 | 12.58% | 8.85% | 0.85x | 1.67x | CN¥87.93 Million |
Industry Comparison
This section compares Zhejiang Xinao Textiles Inc's net assets metrics with peer companies in the Textile Manufacturing industry.
Industry Context
- Industry: Textile Manufacturing
- Average net assets among peers: $2,474,351,262
- Average return on equity (ROE) among peers: 3.20%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Zhejiang Xinao Textiles Inc (603889) | CN¥3.95 Billion | 30.83% | 0.67x | $930.73 Million |
| Shenzhen Textile Holdings Co Ltd (000045) | $3.46 Billion | -0.66% | 0.34x | $803.19 Million |
| Shijiazhuang Changshan Textile Co Ltd (000158) | $1.19 Billion | 7.88% | 0.59x | $4.02 Billion |
| Jilin Chemical Fibre Co Ltd (000420) | $288.96 Million | 0.00% | 1.67x | $1.84 Billion |
| Lu Thai Textile Co Ltd (000726) | $7.78 Billion | 10.82% | 0.31x | $566.63 Million |
| Anhui Huamao Textile Co Ltd (000850) | $4.54 Billion | -4.05% | 0.61x | $626.92 Million |
| Xinxiang Chemical Fiber Co Ltd (000949) | $1.73 Billion | 1.75% | 1.49x | $1.96 Billion |
| Xinlong Holding Group Co Ltd (000955) | $755.81 Million | 6.01% | 0.76x | $409.68 Million |
| Huafu Top Dyed Melange Yarn Co Ltd (002042) | $284.04 Million | 2.07% | 1.02x | $1.23 Billion |
| Sunvim Group Co Ltd (002083) | $2.85 Billion | 4.73% | 1.59x | $1.57 Billion |
| Hongda High-Tech Holding Co Ltd (002144) | $1.86 Billion | 3.48% | 0.12x | $368.59 Million |
About Zhejiang Xinao Textiles Inc
Zhejiang Xinao Textiles Inc. engages in the research and development, production, and sale of wool yarn and its intermediate products, wool tops, and cashmere yarns in China. It offers worsted and woolen pure wool, and wool blended yarns; and worsted and woolen pure cashmere, and cashmere blended yarns. The company's products are used in cashmere sweaters, wool sweaters, wool underwear, wool t-sh… Read more