Mingxin Automotive Leather Co. Ltd.
Mingxin New Material Co.,Ltd. engages in the research, development, production and sales of automotive interior materials in China. The company offers Verona microfiber, Menocra microfiber, Mingxin leather, and Hurongo PU materials used in seats, steering wheels, dashboards, headrests, armrests, ceilings, etc. The company was formerly known as Mingxin Automotive Leather Co., Ltd. and changed its … Read more
Mingxin Automotive Leather Co. Ltd. (605068) - Net Assets
Latest net assets as of June 2025: CN¥1.65 Billion CNY
Based on the latest financial reports, Mingxin Automotive Leather Co. Ltd. (605068) has net assets worth CN¥1.65 Billion CNY as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥3.62 Billion) and total liabilities (CN¥1.97 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¥1.65 Billion |
| % of Total Assets | 45.58% |
| Annual Growth Rate | 22.15% |
| 5-Year Change | -2.16% |
| 10-Year Change | N/A |
| Growth Volatility | 71.62 |
Mingxin Automotive Leather Co. Ltd. - Net Assets Trend (2019–2024)
This chart illustrates how Mingxin Automotive Leather Co. Ltd.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Mingxin Automotive Leather Co. Ltd. (2019–2024)
The table below shows the annual net assets of Mingxin Automotive Leather Co. Ltd. from 2019 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | CN¥1.67 Billion | -11.02% |
| 2023-12-31 | CN¥1.88 Billion | -2.17% |
| 2022-12-31 | CN¥1.92 Billion | +8.77% |
| 2021-12-31 | CN¥1.76 Billion | +3.34% |
| 2020-12-31 | CN¥1.71 Billion | +178.03% |
| 2019-12-31 | CN¥613.59 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Mingxin Automotive Leather Co. Ltd.'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 34.1% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥505.33 Million | 30.27% |
| Other Components | CN¥1.16 Billion | 69.73% |
| Total Equity | CN¥1.67 Billion | 100.00% |
Mingxin Automotive Leather Co. Ltd. Competitors by Market Cap
The table below lists competitors of Mingxin Automotive Leather Co. Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nantex Industry Co Ltd
TW:2108
|
$188.45 Million |
|
Nanjing Res In of Surveying Mapping
SHE:300826
|
$188.50 Million |
|
Sichuan Dowell Science and Technology Inc
SHE:300535
|
$188.52 Million |
|
ShuYu Civilian Pharmacy Corp. Ltd.
SHE:301017
|
$188.58 Million |
|
FIRST UTD CORP. DL-01
F:FU3
|
$188.41 Million |
|
Zhejiang Zhengguang Industrial Co. Ltd.
SHE:301092
|
$188.39 Million |
|
AVENUESAI LTD
NSE:CCAVENUE
|
$188.25 Million |
|
Guangzhou Tongda Auto Electric Co Ltd
SHG:603390
|
$188.18 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Mingxin Automotive Leather Co. Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,875,944,738 to 1,669,134,727, a change of -206,810,011 (-11.0%).
- Net loss of 172,154,187 reduced equity.
- Dividend payments of 10,183,912 reduced retained earnings.
- Other factors decreased equity by 24,471,912.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥-172.15 Million | -10.31% |
| Dividends Paid | CN¥10.18 Million | -0.61% |
| Other Changes | CN¥-24.47 Million | -1.47% |
| Total Change | CN¥- | -11.02% |
Book Value vs Market Value Analysis
This analysis compares Mingxin Automotive Leather Co. Ltd.'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: 2.77x
- 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 5.79x to 2.77x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2019-12-31 | CN¥4.93 | CN¥28.56 | x |
| 2020-12-31 | CN¥10.28 | CN¥28.56 | x |
| 2021-12-31 | CN¥10.48 | CN¥28.56 | x |
| 2022-12-31 | CN¥11.51 | CN¥28.56 | x |
| 2023-12-31 | CN¥11.54 | CN¥28.56 | x |
| 2024-12-31 | CN¥10.29 | CN¥28.56 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Mingxin Automotive Leather Co. Ltd. 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): -10.31%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -14.60%
- • Asset Turnover: 0.33x
- • Equity Multiplier: 2.12x
- Recent ROE (-10.31%) is below the historical average (8.23%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | 29.22% | 27.25% | 0.70x | 1.54x | CN¥117.96 Million |
| 2020 | 12.93% | 27.28% | 0.37x | 1.29x | CN¥49.91 Million |
| 2021 | 9.36% | 19.91% | 0.31x | 1.53x | CN¥-11.22 Million |
| 2022 | 5.24% | 11.75% | 0.26x | 1.73x | CN¥-91.23 Million |
| 2023 | 2.94% | 6.08% | 0.26x | 1.83x | CN¥-132.51 Million |
| 2024 | -10.31% | -14.60% | 0.33x | 2.12x | CN¥-339.07 Million |
Industry Comparison
This section compares Mingxin Automotive Leather Co. Ltd.'s net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $2,572,980,621
- Average return on equity (ROE) among peers: 8.22%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Mingxin Automotive Leather Co. Ltd. (605068) | CN¥1.65 Billion | 29.22% | 1.19x | $188.41 Million |
| Wanxiang Qianchao Co Ltd (000559) | $2.25 Billion | 8.11% | 1.30x | $2.51 Billion |
| Weifu High-Technology Group Co Ltd (000581) | $15.35 Billion | 16.75% | 0.32x | $1.90 Billion |
| Gui Zhou Tyre Co Ltd (000589) | $840.45 Million | 2.86% | 1.85x | $805.35 Million |
| Qingdao Doublestar Co Ltd (000599) | $772.99 Million | 6.94% | 1.69x | $447.80 Million |
| Hengli Industrial Development Group Co Ltd (000622) | $169.93 Million | 0.00% | 0.80x | $7.81 Million |
| Xiangyang Automobile Bearing Co Ltd (000678) | $926.07 Million | -5.80% | 1.58x | $632.55 Million |
| Jiangnan Mould & Plastic Technology Co Ltd (000700) | $415.84 Million | 7.91% | 0.51x | $929.41 Million |
| Sichuan Haowu Electromechanical Co Ltd (000757) | $97.36 Million | 31.38% | 1.32x | $230.79 Million |
| Anhui Zhongding Sealing Parts Co Ltd (000887) | $598.28 Million | 10.29% | 1.20x | $2.06 Billion |
| Aerospace Hi-Tech Holding Group Co Ltd (000901) | $4.31 Billion | 3.73% | 0.63x | $1.62 Billion |