China National Electric Apparatus R (688128) - Net Assets

Latest as of March 2026: CN¥3.63 Billion CNY ≈ $530.87 Million USD

Based on the latest financial reports, China National Electric Apparatus R (688128) has net assets worth CN¥3.63 Billion CNY (≈ $530.87 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¥8.44 Billion ≈ $1.23 Billion USD) and total liabilities (CN¥4.81 Billion ≈ $703.84 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 688128 intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥3.63 Billion
% of Total Assets	43.0%
Annual Growth Rate	46.51%
5-Year Change	381.12%
10-Year Change	N/A
Growth Volatility	88.72

China National Electric Apparatus R - Net Assets Trend (2016–2025)

This chart illustrates how China National Electric Apparatus R's net assets have evolved over time, based on quarterly financial data. See how many days can China National Electric Apparatus R fund operations to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for China National Electric Apparatus R (2016–2025)

The table below shows the annual net assets of China National Electric Apparatus R from 2016 to 2025. For live valuation and market cap data, see China National Electric Apparatus R market capitalisation.

Year	Net Assets	Change
2025-12-31	CN¥11.86 Billion ≈ $1.74 Billion	+264.97%
2024-12-31	CN¥3.25 Billion ≈ $475.40 Million	+9.87%
2023-12-31	CN¥2.96 Billion ≈ $432.68 Million	+10.48%
2022-12-31	CN¥2.68 Billion ≈ $391.63 Million	+8.59%
2021-12-31	CN¥2.46 Billion ≈ $360.63 Million	+6.35%
2020-12-31	CN¥2.32 Billion ≈ $339.11 Million	+7.44%
2019-12-31	CN¥2.16 Billion ≈ $315.64 Million	+108.07%
2018-12-31	CN¥1.04 Billion ≈ $151.70 Million	+3.93%
2017-12-31	CN¥997.44 Million ≈ $145.96 Million	+161.53%
2016-12-31	CN¥381.38 Million ≈ $55.81 Million	--

Equity Component Analysis

This analysis shows how different components contribute to China National Electric Apparatus R'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 166836992512.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CN¥1.60 Billion	46.49%
Other Comprehensive Income	CN¥3.41 Billion	99.21%
Total Equity	CN¥3.44 Billion	100.00%

China National Electric Apparatus R Competitors by Market Cap

The table below lists competitors of China National Electric Apparatus R ranked by their market capitalization.

Company	Market Cap
Guangdong Homa Appliances Co Ltd SHE:002668	$1.57 Billion
Adient PLC NYSE:ADNT	$1.57 Billion
Longwell Co TWO:6290	$1.57 Billion
Sanoma Oyj HE:SANOMA	$1.57 Billion
Fair Oaks Income Limited LSE:FAIR	$1.57 Billion
EFORT Intelligent Equipment Co Ltd SHG:688165	$1.57 Billion
Minera Valparaiso S.A. SN:MINERA	$1.57 Billion
Stef SA PA:STF	$1.57 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in China National Electric Apparatus R's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 3,223,172,351 to 3,436,878,000, a change of 213,705,649 (6.6%).
Net income of 532,632,399 contributed positively to equity growth.
Dividend payments of 202,732,194 reduced retained earnings.
Other comprehensive income increased equity by 3,275,577,886.
Other factors decreased equity by 3,391,772,442.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥532.63 Million	+15.5%
Dividends Paid	CN¥202.73 Million	-5.9%
Other Comprehensive Income	CN¥3.28 Billion	+95.31%
Other Changes	CN¥-3.39 Billion	-98.69%
Total Change	CN¥-	6.63%

Book Value vs Market Value Analysis

This analysis compares China National Electric Apparatus R'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: 3.13x
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 14.99x to 3.13x 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¥1.77	CN¥26.58	x
2017-12-31	CN¥3.44	CN¥26.58	x
2018-12-31	CN¥2.87	CN¥26.58	x
2019-12-31	CN¥5.27	CN¥26.58	x
2020-12-31	CN¥5.67	CN¥26.58	x
2021-12-31	CN¥6.04	CN¥26.58	x
2022-12-31	CN¥6.58	CN¥26.58	x
2023-12-31	CN¥7.19	CN¥26.58	x
2024-12-31	CN¥7.94	CN¥26.58	x
2025-12-31	CN¥8.50	CN¥26.58	x

Capital Efficiency Dashboard

This dashboard shows how efficiently China National Electric Apparatus R 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): 15.50%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 11.18%
• Asset Turnover: 0.57x
• Equity Multiplier: 2.45x
Recent ROE (15.50%) is below the historical average (16.13%), 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	34.98%	8.29%	0.87x	4.84x	CN¥93.54 Million
2017	11.34%	5.76%	0.81x	2.42x	CN¥13.24 Million
2018	20.24%	7.96%	0.99x	2.58x	CN¥104.67 Million
2019	11.83%	9.16%	0.78x	1.66x	CN¥39.08 Million
2020	12.32%	11.22%	0.63x	1.74x	CN¥53.21 Million
2021	12.89%	9.25%	0.70x	1.98x	CN¥70.62 Million
2022	13.65%	9.57%	0.61x	2.35x	CN¥97.17 Million
2023	14.05%	9.83%	0.57x	2.53x	CN¥118.29 Million
2024	14.49%	10.33%	0.61x	2.30x	CN¥144.74 Million
2025	15.50%	11.18%	0.57x	2.45x	CN¥188.94 Million

Industry Comparison

This section compares China National Electric Apparatus R's net assets metrics with peer companies in the Electrical Equipment & Parts industry.

Industry Context

Industry: Electrical Equipment & Parts
Average net assets among peers: $2,466,870,524
Average return on equity (ROE) among peers: 7.13%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
China National Electric Apparatus R (688128)	CN¥3.63 Billion	34.98%	1.33x	$1.57 Billion
XJ Electric Co Ltd (000400)	$11.10 Billion	7.08%	0.75x	$3.44 Billion
Guangdong Macro Co Ltd (000533)	$2.18 Billion	1.75%	1.00x	$1.14 Billion
Foshan Electrical and Lighting Co Ltd (000541)	$1.19 Billion	13.28%	0.23x	$957.37 Million
Dongfang Electronics Co Ltd (000682)	$1.32 Billion	0.16%	0.16x	$2.44 Billion
Shandong Xinneng Taishan Power Generation Co Ltd (000720)	$1.54 Billion	2.10%	1.51x	$810.87 Million
Huagong Tech Co Ltd (000988)	$2.63 Billion	5.72%	0.51x	$24.13 Billion
Hunan Valin Wire & Cable Co Ltd (001208)	$1.62 Billion	6.74%	1.87x	$1.49 Billion
Sieyuan Electric Co Ltd (002028)	$2.82 Billion	5.45%	0.34x	$19.98 Billion
Shanghai Welltech Automation Co Ltd (002058)	$186.07 Million	7.07%	0.22x	$520.79 Million
Gotion High tech Co Ltd (002074)	$87.88 Million	21.99%	1.03x	$8.04 Billion

About China National Electric Apparatus R

SHG:688128 China Electrical Equipment & Parts

Market Cap

$1.57 Billion

CN¥10.75 Billion CNY

Market Cap Rank

#7195 Global

#1645 in China

Share Price

CN¥26.58

Change (1 day)

+0.91%

52-Week Range

CN¥23.16 - CN¥36.53

All Time High

CN¥47.27