Tianjin Silvery Dragon
Silvery Dragon Group Co., Ltd. Tianjin, together with its subsidiaries, researches, develops, manufactures and sells prestressed steel products in China and internationally. The company offers prestressed materials comprising galvanized (aluminum) wires for bridge cables, PC strands for wind power concrete towers, prestressed galvanized (aluminum) strands for photovoltaic, unbonded galvanized str… Read more
Tianjin Silvery Dragon (603969) - Net Assets
Latest net assets as of September 2025: CN¥2.70 Billion CNY
Based on the latest financial reports, Tianjin Silvery Dragon (603969) has net assets worth CN¥2.70 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¥4.52 Billion) and total liabilities (CN¥1.82 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¥2.70 Billion |
| % of Total Assets | 59.8% |
| Annual Growth Rate | 13.33% |
| 5-Year Change | 28.63% |
| 10-Year Change | 62.08% |
| Growth Volatility | 23.61 |
Tianjin Silvery Dragon - Net Assets Trend (2011–2024)
This chart illustrates how Tianjin Silvery Dragon's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Tianjin Silvery Dragon (2011–2024)
The table below shows the annual net assets of Tianjin Silvery Dragon from 2011 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥2.47 Billion | +8.48% |
| 2023-12-31 | CN¥2.28 Billion | +7.16% |
| 2022-12-31 | CN¥2.12 Billion | +5.46% |
| 2021-12-31 | CN¥2.01 Billion | +4.93% |
| 2020-12-31 | CN¥1.92 Billion | +4.27% |
| 2019-12-31 | CN¥1.84 Billion | +5.91% |
| 2018-12-31 | CN¥1.74 Billion | +5.94% |
| 2017-12-31 | CN¥1.64 Billion | +2.14% |
| 2016-12-31 | CN¥1.61 Billion | +5.45% |
| 2015-12-31 | CN¥1.52 Billion | +94.77% |
| 2014-12-31 | CN¥781.88 Million | +20.13% |
| 2013-12-31 | CN¥650.84 Million | +18.99% |
| 2012-12-31 | CN¥546.98 Million | +12.82% |
| 2011-12-31 | CN¥484.83 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tianjin Silvery Dragon'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 2542.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥1.15 Billion | 47.14% |
| Common Stock | CN¥854.76 Million | 35.02% |
| Other Comprehensive Income | CN¥176.14 Million | 7.22% |
| Other Components | CN¥259.47 Million | 10.63% |
| Total Equity | CN¥2.44 Billion | 100.00% |
Tianjin Silvery Dragon Competitors by Market Cap
The table below lists competitors of Tianjin Silvery Dragon ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shinsung Delta Tech Co.Ltd
KQ:065350
|
$656.39 Million |
|
National Presto Industries Inc
NYSE:NPK
|
$656.39 Million |
|
UIE PLC
CO:UIE
|
$656.42 Million |
|
Tongyang Life
KO:082640
|
$656.57 Million |
|
Vossloh AG
PINK:VOSSF
|
$655.72 Million |
|
Anhui Tongfeng Electronics Co Ltd
SHG:600237
|
$655.70 Million |
|
NOVA LJUBLJ.BK GDR REG.S
F:N1V2
|
$655.64 Million |
|
Shanghai Jin Jiang International Industrial Investment Co Ltd A
SHG:600650
|
$655.58 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tianjin Silvery Dragon's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 2,252,502,205 to 2,441,087,494, a change of 188,585,289 (8.4%).
- Net income of 236,647,685 contributed positively to equity growth.
- Dividend payments of 78,985,038 reduced retained earnings.
- Share repurchases of 17,751,645 reduced equity.
- Other comprehensive income increased equity by 123,499,391.
- Other factors decreased equity by 74,825,104.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥236.65 Million | +9.69% |
| Dividends Paid | CN¥78.99 Million | -3.24% |
| Share Repurchases | CN¥17.75 Million | -0.73% |
| Other Comprehensive Income | CN¥123.50 Million | +5.06% |
| Other Changes | CN¥-74.83 Million | -3.07% |
| Total Change | CN¥- | 8.37% |
Book Value vs Market Value Analysis
This analysis compares Tianjin Silvery Dragon'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: 3.40x
- 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 decreased from 12.78x to 3.40x 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¥0.77 | CN¥9.90 | x |
| 2012-12-31 | CN¥0.85 | CN¥9.90 | x |
| 2013-12-31 | CN¥1.02 | CN¥9.90 | x |
| 2014-12-31 | CN¥1.12 | CN¥9.90 | x |
| 2015-12-31 | CN¥1.84 | CN¥9.90 | x |
| 2016-12-31 | CN¥1.88 | CN¥9.90 | x |
| 2017-12-31 | CN¥1.83 | CN¥9.90 | x |
| 2018-12-31 | CN¥2.07 | CN¥9.90 | x |
| 2019-12-31 | CN¥2.16 | CN¥9.90 | x |
| 2020-12-31 | CN¥2.27 | CN¥9.90 | x |
| 2021-12-31 | CN¥2.38 | CN¥9.90 | x |
| 2022-12-31 | CN¥2.52 | CN¥9.90 | x |
| 2023-12-31 | CN¥2.63 | CN¥9.90 | x |
| 2024-12-31 | CN¥2.91 | CN¥9.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tianjin Silvery Dragon 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): 9.69%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.75%
- • Asset Turnover: 0.78x
- • Equity Multiplier: 1.60x
- Recent ROE (9.69%) is below the historical average (9.84%), 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 | 12.28% | 3.77% | 1.99x | 1.64x | CN¥11.06 Million |
| 2012 | 10.05% | 4.07% | 1.35x | 1.83x | CN¥281.57K |
| 2013 | 18.93% | 6.24% | 1.68x | 1.81x | CN¥57.49 Million |
| 2014 | 16.95% | 6.63% | 1.58x | 1.62x | CN¥53.87 Million |
| 2015 | 8.51% | 9.20% | 0.87x | 1.07x | CN¥-22.43 Million |
| 2016 | 9.09% | 9.76% | 0.85x | 1.10x | CN¥-14.52 Million |
| 2017 | 7.27% | 5.43% | 1.02x | 1.31x | CN¥-44.50 Million |
| 2018 | 8.71% | 6.44% | 0.87x | 1.56x | CN¥-22.24 Million |
| 2019 | 9.14% | 6.28% | 0.85x | 1.72x | CN¥-15.70 Million |
| 2020 | 7.19% | 5.34% | 0.95x | 1.42x | CN¥-53.32 Million |
| 2021 | 7.35% | 4.66% | 1.02x | 1.55x | CN¥-52.99 Million |
| 2022 | 4.92% | 4.22% | 0.76x | 1.54x | CN¥-107.24 Million |
| 2023 | 7.62% | 6.24% | 0.82x | 1.49x | CN¥-53.69 Million |
| 2024 | 9.69% | 7.75% | 0.78x | 1.60x | CN¥-7.46 Million |
Industry Comparison
This section compares Tianjin Silvery Dragon's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $13,874,696,979
- Average return on equity (ROE) among peers: 20.52%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tianjin Silvery Dragon (603969) | CN¥2.70 Billion | 12.28% | 0.67x | $656.31 Million |
| CITIC Pacific Special Steel Group Co Ltd (000708) | $4.40 Billion | 81.30% | 0.74x | $1.84 Billion |
| HBIS Co Ltd (000709) | $7.63 Billion | 11.59% | 1.03x | $1.27 Billion |
| Sgis Songshan Co Ltd (000717) | $8.00 Billion | 22.80% | 1.15x | $443.11 Million |
| Bengang Steel Plates Co Ltd (000761) | $20.01 Billion | 2.78% | 2.03x | $452.44 Million |
| Xinxing Ductile Iron Pipes Co Ltd (000778) | $2.18 Billion | 17.60% | 0.97x | $1.51 Billion |
| Shanxi Taigang Stainless Steel Co Ltd (000825) | $27.34 Billion | 16.91% | 1.72x | $1.33 Billion |
| Jiangsu Fasten Co Ltd (000890) | $1.18 Billion | 1.14% | 1.80x | $283.59 Million |
| Angang Steel Co Ltd Class A (000898) | $60.19 Billion | 11.57% | 0.62x | $1.19 Billion |
| Hunan Valin Steel Co Ltd (000932) | $1.39 Billion | 22.60% | 1.61x | $1.17 Billion |
| Beijing Shougang Co Ltd (000959) | $6.43 Billion | 16.93% | 1.18x | $911.24 Million |