Tianjin Silvery Dragon (603969) - Net Assets
Based on the latest financial reports, Tianjin Silvery Dragon (603969) has net assets worth CN¥2.70 Billion CNY (≈ $395.39 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¥4.52 Billion ≈ $661.21 Million USD) and total liabilities (CN¥1.82 Billion ≈ $265.83 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 Tianjin Silvery Dragon tangible book value ratio to evaluate the tangible quality of the company's equity base.
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. See Tianjin Silvery Dragon liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
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. For live valuation and market cap data, see Tianjin Silvery Dragon market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥2.47 Billion ≈ $361.20 Million |
+8.48% |
| 2023-12-31 | CN¥2.28 Billion ≈ $332.95 Million |
+7.16% |
| 2022-12-31 | CN¥2.12 Billion ≈ $310.71 Million |
+5.46% |
| 2021-12-31 | CN¥2.01 Billion ≈ $294.63 Million |
+4.93% |
| 2020-12-31 | CN¥1.92 Billion ≈ $280.80 Million |
+4.27% |
| 2019-12-31 | CN¥1.84 Billion ≈ $269.30 Million |
+5.91% |
| 2018-12-31 | CN¥1.74 Billion ≈ $254.28 Million |
+5.94% |
| 2017-12-31 | CN¥1.64 Billion ≈ $240.01 Million |
+2.14% |
| 2016-12-31 | CN¥1.61 Billion ≈ $234.99 Million |
+5.45% |
| 2015-12-31 | CN¥1.52 Billion ≈ $222.85 Million |
+94.77% |
| 2014-12-31 | CN¥781.88 Million ≈ $114.41 Million |
+20.13% |
| 2013-12-31 | CN¥650.84 Million ≈ $95.24 Million |
+18.99% |
| 2012-12-31 | CN¥546.98 Million ≈ $80.04 Million |
+12.82% |
| 2011-12-31 | CN¥484.83 Million ≈ $70.95 Million |
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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 |
|---|---|
|
Corticeira Amorim
LS:COR
|
$887.11 Million |
|
Shenyang Toly Bread Co Ltd
SHG:603866
|
$887.20 Million |
|
Maravai Lifesciences Holdings Inc
NASDAQ:MRVI
|
$887.54 Million |
|
Svenska Handelsbanken AB (publ)
ST:SHB-B
|
$887.70 Million |
|
Hunan Huakai Cultural and Creative Co Ltd
SHE:300592
|
$886.97 Million |
|
SKF India Limited
NSE:SKFINDIA
|
$886.45 Million |
|
Inox Green Energy Services Limited
NSE:INOXGREEN
|
$886.42 Million |
|
Standard Lithium Ltd
NYSE MKT:SLI
|
$886.39 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: 2.43x
- 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 9.13x to 2.43x 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¥7.07 | x |
| 2012-12-31 | CN¥0.85 | CN¥7.07 | x |
| 2013-12-31 | CN¥1.02 | CN¥7.07 | x |
| 2014-12-31 | CN¥1.12 | CN¥7.07 | x |
| 2015-12-31 | CN¥1.84 | CN¥7.07 | x |
| 2016-12-31 | CN¥1.88 | CN¥7.07 | x |
| 2017-12-31 | CN¥1.83 | CN¥7.07 | x |
| 2018-12-31 | CN¥2.07 | CN¥7.07 | x |
| 2019-12-31 | CN¥2.16 | CN¥7.07 | x |
| 2020-12-31 | CN¥2.27 | CN¥7.07 | x |
| 2021-12-31 | CN¥2.38 | CN¥7.07 | x |
| 2022-12-31 | CN¥2.52 | CN¥7.07 | x |
| 2023-12-31 | CN¥2.63 | CN¥7.07 | x |
| 2024-12-31 | CN¥2.91 | CN¥7.07 | 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: $17,330,859,715
- Average return on equity (ROE) among peers: 13.96%
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 | $886.98 Million |
| CITIC Pacific Special Steel Group Co Ltd (000708) | $3.32 Billion | 8.08% | 0.52x | $9.85 Billion |
| HBIS Co Ltd (000709) | $44.79 Billion | 0.26% | 2.73x | $3.06 Billion |
| Sgis Songshan Co Ltd (000717) | $6.18 Billion | 53.52% | 1.66x | $712.92 Million |
| Bengang Steel Plates Co Ltd (000761) | $806.40 Million | 41.52% | 0.99x | $1.20 Billion |
| Xinxing Ductile Iron Pipes Co Ltd (000778) | $6.54 Billion | 7.81% | 1.19x | $2.26 Billion |
| Shanxi Taigang Stainless Steel Co Ltd (000825) | $25.06 Billion | 7.20% | 1.64x | $3.00 Billion |
| Jiangsu Fasten Co Ltd (000890) | $610.17 Million | 9.69% | 0.76x | $507.05 Million |
| Angang Steel Co Ltd Class A (000898) | $5.43 Billion | 5.36% | 0.28x | $2.24 Billion |
| Hunan Valin Steel Co Ltd (000932) | $57.59 Billion | 11.08% | 1.08x | $3.51 Billion |
| Beijing Shougang Co Ltd (000959) | $22.99 Billion | -4.93% | 1.89x | $3.63 Billion |
About 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