Cathay Biotech Inc (688065) - Net Assets

Latest as of June 2026: CN¥21.59 Billion CNY ≈ $3.16 Billion USD

Based on the latest financial reports, Cathay Biotech Inc (688065) has net assets worth CN¥21.59 Billion CNY (≈ $3.16 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CN¥24.61 Billion ≈ $3.60 Billion USD) and total liabilities (CN¥3.02 Billion ≈ $442.54 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. See debt-free asset ratio of Cathay Biotech Inc to measure how much of total assets are equity-financed.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥21.59 Billion
% of Total Assets	87.71%
Annual Growth Rate	49.37%
5-Year Change	207.06%
10-Year Change	N/A
Growth Volatility	66.0

Cathay Biotech Inc - Net Assets Trend (2016–2025)

This chart illustrates how Cathay Biotech Inc's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see 688065 market cap overview.

Annual Net Assets for Cathay Biotech Inc (2016–2025)

The table below shows the annual net assets of Cathay Biotech Inc from 2016 to 2025. Also explore Cathay Biotech Inc annual equity growth to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	CN¥45.10 Billion ≈ $6.60 Billion	+198.65%
2024-12-31	CN¥15.10 Billion ≈ $2.21 Billion	+2.22%
2023-12-31	CN¥14.77 Billion ≈ $2.16 Billion	-1.76%
2022-12-31	CN¥15.04 Billion ≈ $2.20 Billion	+2.39%
2021-12-31	CN¥14.69 Billion ≈ $2.15 Billion	+27.89%
2020-12-31	CN¥11.48 Billion ≈ $1.68 Billion	+147.41%
2019-12-31	CN¥4.64 Billion ≈ $679.25 Million	+47.05%
2018-12-31	CN¥3.16 Billion ≈ $461.93 Million	+43.70%
2017-12-31	CN¥2.20 Billion ≈ $321.46 Million	+80.24%
2016-12-31	CN¥1.22 Billion ≈ $178.35 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Cathay Biotech 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 267723346166.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥2.58 Billion	12.15%
Other Comprehensive Income	CN¥17.60 Billion	82.94%
Other Components	CN¥1.04 Billion	4.91%
Total Equity	CN¥21.22 Billion	100.00%

Cathay Biotech Inc Competitors by Market Cap

The table below lists competitors of Cathay Biotech Inc ranked by their market capitalization.

Company	Market Cap
State Grid Yingda Co Ltd SHG:600517	$4.05 Billion
China Hainan Rubber Industry Group Co Ltd SHG:601118	$4.06 Billion
Fujian Star Net Communic Ltd SHE:002396	$4.06 Billion
Co-Tech Development TWO:8358	$4.06 Billion
JCDECAUX SE ADR 1/2/O.N. F:DCS0	$4.04 Billion
Legence Corp. Class A Common stock NASDAQ:LGN	$4.04 Billion
Just Eat Takeaway AS:TKWY	$4.04 Billion
Forehope Electronic (Ningbo) Co. Ltd. A SHG:688362	$4.04 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Cathay Biotech Inc's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 11,507,005,495 to 21,216,936,000, a change of 9,709,930,505 (84.4%).
Net income of 565,720,400 contributed positively to equity growth.
Dividend payments of 313,131,536 reduced retained earnings.
Other comprehensive income increased equity by 17,238,299,086.
Other factors decreased equity by 7,780,957,445.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥565.72 Million	+2.67%
Dividends Paid	CN¥313.13 Million	-1.48%
Other Comprehensive Income	CN¥17.24 Billion	+81.25%
Other Changes	CN¥-7.78 Billion	-36.67%
Total Change	CN¥-	84.38%

Book Value vs Market Value Analysis

This analysis compares Cathay Biotech 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: 1.23x
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 11.41x to 1.23x 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¥3.36	CN¥38.34	x
2017-12-31	CN¥6.06	CN¥38.34	x
2018-12-31	CN¥6.31	CN¥38.34	x
2019-12-31	CN¥9.14	CN¥38.34	x
2020-12-31	CN¥19.13	CN¥38.34	x
2021-12-31	CN¥18.29	CN¥38.34	x
2022-12-31	CN¥18.80	CN¥38.34	x
2023-12-31	CN¥19.19	CN¥38.34	x
2024-12-31	CN¥19.77	CN¥38.34	x
2025-12-31	CN¥31.13	CN¥38.34	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Cathay Biotech 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): 2.67%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 17.17%
• Asset Turnover: 0.14x
• Equity Multiplier: 1.13x
Recent ROE (2.67%) is below the historical average (7.74%), 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	11.94%	15.66%	0.56x	1.36x	CN¥23.59 Million
2017	15.15%	24.42%	0.43x	1.43x	CN¥113.05 Million
2018	14.77%	26.54%	0.36x	1.53x	CN¥150.62 Million
2019	10.32%	24.99%	0.32x	1.29x	CN¥14.69 Million
2020	4.41%	30.57%	0.12x	1.17x	CN¥-580.80 Million
2021	5.58%	25.16%	0.15x	1.52x	CN¥-471.79 Million
2022	5.05%	22.66%	0.14x	1.63x	CN¥-541.63 Million
2023	3.28%	17.34%	0.11x	1.69x	CN¥-749.89 Million
2024	4.25%	16.53%	0.16x	1.65x	CN¥-661.74 Million
2025	2.67%	17.17%	0.14x	1.13x	CN¥-1.56 Billion

Industry Comparison

This section compares Cathay Biotech Inc's net assets metrics with peer companies in the Chemicals industry.

Industry Context

Industry: Chemicals
Average net assets among peers: $3,308,035,131
Average return on equity (ROE) among peers: 6.58%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Cathay Biotech Inc (688065)	CN¥21.59 Billion	11.94%	0.14x	$4.05 Billion
North Huajin Chemical Industries Co Ltd (000059)	$8.64 Billion	-17.47%	2.56x	$1.31 Billion
Sichuan Chemical Co Ltd (000155)	$-888.05 Million	0.00%	0.00x	$2.98 Billion
Jiangsu Wujiang China Eastern Silk Market Co Ltd (000301)	$1.29 Billion	8.20%	0.49x	$12.92 Billion
Zangge Holding Co Ltd (000408)	$13.85 Billion	18.63%	0.09x	$16.42 Billion
Sichuan Jinlu Group Co Ltd (000510)	$754.79 Million	9.90%	0.56x	$1.76 Billion
Jilin Gpro Titanium Industry Co Ltd (000545)	$2.05 Billion	4.97%	0.52x	$313.36 Million
Aoyuan Beauty Valley Technology Co Ltd (000615)	$706.12 Million	6.49%	1.47x	$837.01 Million
Ningxia Younglight Chemicals Co Ltd (000635)	$2.74 Billion	2.81%	0.29x	$431.98 Million
Maoming Petro-Chemical Shihua Co Ltd (000637)	$985.33 Million	1.48%	0.95x	$321.03 Million
Inner Mongolia Yuan Xing Energy Co Ltd (000683)	$2.95 Billion	30.81%	1.19x	$3.01 Billion

About Cathay Biotech Inc

SHG:688065 China Chemicals

Market Cap

$4.05 Billion

CN¥27.65 Billion CNY

Market Cap Rank

#4081 Global

#607 in China

Share Price

CN¥38.34

Change (1 day)

-2.49%

52-Week Range

CN¥37.00 - CN¥62.24

All Time High

CN¥134.07