China National Electric Apparatus R (688128) - Net Assets

Latest as of September 2025: CN¥3.44 Billion CNY ≈ $502.92 Million USD

Based on the latest financial reports, China National Electric Apparatus R (688128) has net assets worth CN¥3.44 Billion CNY (≈ $502.92 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¥7.95 Billion ≈ $1.16 Billion USD) and total liabilities (CN¥4.52 Billion ≈ $660.76 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 asset resilience ratio of China National Electric Apparatus R to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥3.44 Billion
% of Total Assets	43.22%
Annual Growth Rate	30.71%
5-Year Change	40.19%
10-Year Change	N/A
Growth Volatility	56.64

China National Electric Apparatus R - Net Assets Trend (2016–2024)

This chart illustrates how China National Electric Apparatus R's net assets have evolved over time, based on quarterly financial data. Also explore China National Electric Apparatus R asset portfolio for the complete picture of this company's asset base.

Annual Net Assets for China National Electric Apparatus R (2016–2024)

The table below shows the annual net assets of China National Electric Apparatus R from 2016 to 2024. For live valuation and market cap data, see China National Electric Apparatus R market capitalisation.

Year	Net Assets	Change
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 7042811193.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Other Comprehensive Income	CN¥3.41 Billion	99.21%
Other Components	CN¥27.19 Million	0.79%
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
Ellington Financial Inc. NYSE:EFC	$1.57 Billion
Astrana Health Inc NASDAQ:ASTH	$1.57 Billion
CONSUN PHARMAC.GR.HD -10 F:C1P	$1.57 Billion
Realia MC:RLIA	$1.57 Billion
ELECTROLUX B ADR/2 SK 5 F:ELXA	$1.57 Billion
Herbalife Nutrition Ltd NYSE:HLF	$1.57 Billion
Mitra Keluarga Karyasehat Tbk PT JK:MIKA	$1.57 Billion
Lonking Holdings Limited F:C9IB	$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.
Other comprehensive income increased equity by 3,275,577,886.
Other factors decreased equity by 3,594,504,636.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CN¥532.63 Million	+15.5%
Other Comprehensive Income	CN¥3.28 Billion	+95.31%
Other Changes	CN¥-3.59 Billion	-104.59%
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: 3.12x
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 14.96x to 3.12x 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¥26.51	x
2017-12-31	CN¥3.44	CN¥26.51	x
2018-12-31	CN¥2.87	CN¥26.51	x
2019-12-31	CN¥5.27	CN¥26.51	x
2020-12-31	CN¥5.67	CN¥26.51	x
2021-12-31	CN¥6.04	CN¥26.51	x
2022-12-31	CN¥6.58	CN¥26.51	x
2023-12-31	CN¥7.19	CN¥26.51	x
2024-12-31	CN¥7.94	CN¥26.51	x
2025-12-31	CN¥8.50	CN¥26.51	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: 0.00x
• Equity Multiplier: 0.00x
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%	0.00x	0.00x	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: $1,164,821,620
Average return on equity (ROE) among peers: -27.63%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
China National Electric Apparatus R (688128)	CN¥3.44 Billion	34.98%	1.31x	$1.57 Billion
XJ Electric Co Ltd (000400)	$789.62 Million	13.31%	0.28x	$3.75 Billion
Guangdong Macro Co Ltd (000533)	$259.29 Million	-377.39%	9.44x	$1.28 Billion
Foshan Electrical and Lighting Co Ltd (000541)	$3.00 Billion	13.36%	0.15x	$1.02 Billion
Dongfang Electronics Co Ltd (000682)	$1.32 Billion	0.16%	0.16x	$2.56 Billion
Shandong Xinneng Taishan Power Generation Co Ltd (000720)	$967.32 Million	3.48%	4.72x	$834.77 Million
Huagong Tech Co Ltd (000988)	$141.93 Million	21.53%	0.30x	$17.59 Billion
Hunan Valin Wire & Cable Co Ltd (001208)	$1.48 Billion	7.41%	1.41x	$1.79 Billion
Sieyuan Electric Co Ltd (002028)	$478.86 Million	17.57%	0.71x	$22.29 Billion
Shanghai Welltech Automation Co Ltd (002058)	$170.82 Million	5.01%	0.32x	$526.87 Million
Gotion High tech Co Ltd (002074)	$3.04 Billion	19.22%	1.21x	$9.75 Billion

About China National Electric Apparatus R

SHG:688128 China Electrical Equipment & Parts

Market Cap

$1.57 Billion

CN¥10.72 Billion CNY

Market Cap Rank

#7201 Global

#1700 in China

Share Price

CN¥26.51

Change (1 day)

+0.34%

52-Week Range

CN¥23.16 - CN¥36.53

All Time High

CN¥47.27