Zhejiang MustangBattery Co.Ltd (605378) - Net Assets
Based on the latest financial reports, Zhejiang MustangBattery Co.Ltd (605378) has net assets worth CN¥1.24 Billion CNY (≈ $182.12 Million 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¥1.53 Billion ≈ $223.96 Million USD) and total liabilities (CN¥285.92 Million ≈ $41.84 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 tangible net worth ratio of Zhejiang MustangBattery Co.Ltd to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CN¥1.24 Billion |
| % of Total Assets | 81.32% |
| Annual Growth Rate | 15.52% |
| 5-Year Change | 10.06% |
| 10-Year Change | N/A |
| Growth Volatility | 28.53 |
Zhejiang MustangBattery Co.Ltd - Net Assets Trend (2016–2025)
This chart illustrates how Zhejiang MustangBattery Co.Ltd's net assets have evolved over time, based on quarterly financial data. See 605378 cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Zhejiang MustangBattery Co.Ltd (2016–2025)
The table below shows the annual net assets of Zhejiang MustangBattery Co.Ltd from 2016 to 2025. For live valuation and market cap data, see 605378 stock market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | CN¥1.25 Billion ≈ $183.19 Million |
-2.74% |
| 2024-12-31 | CN¥1.29 Billion ≈ $188.35 Million |
+4.54% |
| 2023-12-31 | CN¥1.23 Billion ≈ $180.17 Million |
+3.48% |
| 2022-12-31 | CN¥1.19 Billion ≈ $174.12 Million |
+4.61% |
| 2021-12-31 | CN¥1.14 Billion ≈ $166.44 Million |
+94.91% |
| 2020-12-31 | CN¥583.58 Million ≈ $85.40 Million |
+15.49% |
| 2019-12-31 | CN¥505.32 Million ≈ $73.94 Million |
+12.26% |
| 2018-12-31 | CN¥450.12 Million ≈ $65.87 Million |
+28.99% |
| 2017-12-31 | CN¥348.96 Million ≈ $51.06 Million |
+2.13% |
| 2016-12-31 | CN¥341.67 Million ≈ $50.00 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Zhejiang MustangBattery 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 62.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | CN¥331.93 Million | 26.51% |
| Other Components | CN¥919.98 Million | 73.49% |
| Total Equity | CN¥1.25 Billion | 100.00% |
Zhejiang MustangBattery Co.Ltd Competitors by Market Cap
The table below lists competitors of Zhejiang MustangBattery Co.Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
BAE Systems plc
LSE:BA
|
$659.70 Million |
|
Union Optech Co Ltd
SHE:300691
|
$659.85 Million |
|
Shanghai Jiaoda Onlly Co Ltd
SHG:600530
|
$659.96 Million |
|
Shanghai Maling Aquarius Co Ltd
SHG:600073
|
$660.02 Million |
|
Hanilcmt Co Ltd
KO:300720
|
$659.47 Million |
|
Banco da Amazônia S.A
SA:BAZA3
|
$659.43 Million |
|
Invengo Information Technology Co Ltd
SHE:002161
|
$659.24 Million |
|
Zhejiang Meishuo Electric Technology Co. Ltd. A
SHE:301295
|
$659.19 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Zhejiang MustangBattery Co.Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,287,172,753 to 1,251,902,388, a change of -35,270,365 (-2.7%).
- Net income of 58,239,782 contributed positively to equity growth.
- Dividend payments of 93,338,000 reduced retained earnings.
- Other comprehensive income decreased equity by 270,109,506.
- Other factors increased equity by 269,937,358.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CN¥58.24 Million | +4.65% |
| Dividends Paid | CN¥93.34 Million | -7.46% |
| Other Comprehensive Income | CN¥-270.11 Million | -21.58% |
| Other Changes | CN¥269.94 Million | +21.56% |
| Total Change | CN¥- | -2.74% |
Book Value vs Market Value Analysis
This analysis compares Zhejiang MustangBattery 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: 3.60x
- 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 9.90x to 3.60x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | CN¥1.74 | CN¥17.25 | x |
| 2017-12-31 | CN¥1.78 | CN¥17.25 | x |
| 2018-12-31 | CN¥2.30 | CN¥17.25 | x |
| 2019-12-31 | CN¥2.57 | CN¥17.25 | x |
| 2020-12-31 | CN¥2.97 | CN¥17.25 | x |
| 2021-12-31 | CN¥4.74 | CN¥17.25 | x |
| 2022-12-31 | CN¥4.55 | CN¥17.25 | x |
| 2023-12-31 | CN¥4.70 | CN¥17.25 | x |
| 2024-12-31 | CN¥5.60 | CN¥17.25 | x |
| 2025-12-31 | CN¥4.79 | CN¥17.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Zhejiang MustangBattery 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): 4.65%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.70%
- • Asset Turnover: 0.84x
- • Equity Multiplier: 1.18x
- Recent ROE (4.65%) is below the historical average (16.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 39.23% | 14.92% | 1.45x | 1.81x | CN¥99.87 Million |
| 2017 | 15.48% | 5.01% | 1.51x | 2.05x | CN¥19.13 Million |
| 2018 | 23.30% | 9.97% | 1.46x | 1.61x | CN¥59.87 Million |
| 2019 | 24.38% | 12.44% | 1.29x | 1.52x | CN¥72.67 Million |
| 2020 | 20.27% | 10.76% | 1.22x | 1.55x | CN¥59.91 Million |
| 2021 | 6.67% | 6.39% | 0.83x | 1.26x | CN¥-37.90 Million |
| 2022 | 8.29% | 9.67% | 0.69x | 1.25x | CN¥-20.32 Million |
| 2023 | 8.57% | 10.59% | 0.64x | 1.27x | CN¥-17.58 Million |
| 2024 | 11.87% | 11.76% | 0.80x | 1.27x | CN¥24.06 Million |
| 2025 | 4.65% | 4.70% | 0.84x | 1.18x | CN¥-66.95 Million |
Industry Comparison
This section compares Zhejiang MustangBattery Co.Ltd's net assets metrics with peer companies in the Electrical Equipment & Parts industry.
Industry Context
- Industry: Electrical Equipment & Parts
- Average net assets among peers: $4,521,607,784
- Average return on equity (ROE) among peers: -17.97%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Zhejiang MustangBattery Co.Ltd (605378) | CN¥1.24 Billion | 39.23% | 0.23x | $659.70 Million |
| XJ Electric Co Ltd (000400) | $2.06 Billion | 5.67% | 0.94x | $3.41 Billion |
| Guangdong Macro Co Ltd (000533) | $259.29 Million | -377.39% | 9.44x | $1.05 Billion |
| Foshan Electrical and Lighting Co Ltd (000541) | $2.81 Billion | 9.38% | 0.11x | $908.69 Million |
| Dongfang Electronics Co Ltd (000682) | $78.67 Million | 125.00% | 0.63x | $2.52 Billion |
| Shandong Xinneng Taishan Power Generation Co Ltd (000720) | $1.26 Billion | 6.39% | 3.26x | $742.84 Million |
| Huagong Tech Co Ltd (000988) | $8.26 Billion | 10.96% | 1.03x | $26.12 Billion |
| Hunan Valin Wire & Cable Co Ltd (001208) | $1.38 Billion | 9.72% | 0.89x | $1.44 Billion |
| Sieyuan Electric Co Ltd (002028) | $4.51 Billion | 5.52% | 0.51x | $21.78 Billion |
| Shanghai Welltech Automation Co Ltd (002058) | $88.12 Million | 23.77% | 0.92x | $468.31 Million |
| Gotion High tech Co Ltd (002074) | $24.50 Billion | 1.27% | 1.96x | $7.89 Billion |
About Zhejiang MustangBattery Co.Ltd
Zhejiang Mustang Battery Co.,Ltd engages in the research and development, production, and sale of zinc-manganese batteries in China. The company offers alkaline batteries, zinc-carbon products, Ni-mh products, special products, and package products, as well as alkaline-manganese batteries under the Mustang, MUSTANG, and RAYMAX brands. It sells its products in the European Union, North America, So… Read more