Novoray Corporation (688300) - Net Assets

Latest as of September 2025: CN¥1.63 Billion CNY ≈ $239.01 Million USD

Based on the latest financial reports, Novoray Corporation (688300) has net assets worth CN¥1.63 Billion CNY (≈ $239.01 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¥2.22 Billion ≈ $324.64 Million USD) and total liabilities (CN¥585.16 Million ≈ $85.63 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 688300 cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CN¥1.63 Billion
% of Total Assets	73.62%
Annual Growth Rate	23.22%
5-Year Change	56.41%
10-Year Change	1122.45%
Growth Volatility	50.34

Novoray Corporation - Net Assets Trend (2012–2024)

This chart illustrates how Novoray Corporation's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Novoray Corporation for the complete picture of this company's asset base.

Annual Net Assets for Novoray Corporation (2012–2024)

The table below shows the annual net assets of Novoray Corporation from 2012 to 2024. For live valuation and market cap data, see Novoray Corporation (688300) total market value.

Year	Net Assets	Change
2024-12-31	CN¥1.51 Billion ≈ $220.62 Million	+11.89%
2023-12-31	CN¥1.35 Billion ≈ $197.17 Million	+9.55%
2022-12-31	CN¥1.23 Billion ≈ $179.99 Million	+12.46%
2021-12-31	CN¥1.09 Billion ≈ $160.04 Million	+13.46%
2020-12-31	CN¥963.95 Million ≈ $141.06 Million	+7.57%
2019-12-31	CN¥896.15 Million ≈ $131.13 Million	+180.45%
2018-12-31	CN¥319.55 Million ≈ $46.76 Million	+65.58%
2017-12-31	CN¥192.98 Million ≈ $28.24 Million	+18.59%
2016-12-31	CN¥162.73 Million ≈ $23.81 Million	+31.94%
2015-12-31	CN¥123.33 Million ≈ $18.05 Million	+28.25%
2014-12-31	CN¥96.16 Million ≈ $14.07 Million	+24.47%
2013-12-31	CN¥77.26 Million ≈ $11.31 Million	-37.20%
2012-12-31	CN¥123.02 Million ≈ $18.00 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Novoray Corporation'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 1076.6% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	CN¥707.40 Million	46.92%
Common Stock	CN¥185.75 Million	12.32%
Other Components	CN¥614.53 Million	40.76%
Total Equity	CN¥1.51 Billion	100.00%

Novoray Corporation Competitors by Market Cap

The table below lists competitors of Novoray Corporation ranked by their market capitalization.

Company	Market Cap
Hisense Kelon Electrical Holdings Co Ltd SHE:000921	$3.33 Billion
Asker Healthcare ST:ASKER	$3.33 Billion
Shenzhen Jove Enterprise Co. Ltd. SHE:300814	$3.33 Billion
Liechtensteinische Landesbank Aktiengesellschaft STU:LLS1	$3.33 Billion
Fujian Sunner Development Co Ltd SHE:002299	$3.33 Billion
Beijing Capital Co Ltd SHG:600008	$3.33 Billion
Guangzhou Zhujiang Brewery Co Ltd SHE:002461	$3.33 Billion
H B Fuller Company NYSE:FUL	$3.33 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 1,347,439,223 to 1,507,675,837, a change of 160,236,614 (11.9%).
Net income of 251,374,416 contributed positively to equity growth.
Dividend payments of 94,994,776 reduced retained earnings.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	CN¥251.37 Million	+16.67%
Dividends Paid	CN¥94.99 Million	-6.3%
Other Changes	CN¥3.86 Million	+0.26%
Total Change	CN¥-	11.89%

Book Value vs Market Value Analysis

This analysis compares Novoray Corporation'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: 11.62x
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 92.86x to 11.62x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2012-12-31	CN¥1.02	CN¥94.29	x
2013-12-31	CN¥0.97	CN¥94.29	x
2014-12-31	CN¥0.80	CN¥94.29	x
2015-12-31	CN¥1.00	CN¥94.29	x
2016-12-31	CN¥1.31	CN¥94.29	x
2017-12-31	CN¥1.48	CN¥94.29	x
2018-12-31	CN¥2.36	CN¥94.29	x
2019-12-31	CN¥4.82	CN¥94.29	x
2020-12-31	CN¥5.19	CN¥94.29	x
2021-12-31	CN¥5.89	CN¥94.29	x
2022-12-31	CN¥6.62	CN¥94.29	x
2023-12-31	CN¥7.28	CN¥94.29	x
2024-12-31	CN¥8.12	CN¥94.29	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Novoray Corporation 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): 16.67%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 26.18%
• Asset Turnover: 0.49x
• Equity Multiplier: 1.31x
Recent ROE (16.67%) is above the historical average (15.77%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2012	11.40%	12.92%	0.64x	1.37x	CN¥1.72 Million
2013	18.43%	11.82%	0.63x	2.46x	CN¥6.51 Million
2014	19.66%	15.09%	0.71x	1.84x	CN¥9.29 Million
2015	14.77%	14.89%	0.62x	1.59x	CN¥5.89 Million
2016	20.10%	21.29%	0.63x	1.50x	CN¥16.44 Million
2017	21.89%	20.03%	0.70x	1.57x	CN¥22.95 Million
2018	18.27%	20.99%	0.67x	1.29x	CN¥26.41 Million
2019	8.34%	23.69%	0.31x	1.14x	CN¥-14.92 Million
2020	11.51%	27.44%	0.37x	1.13x	CN¥14.52 Million
2021	15.81%	27.67%	0.48x	1.19x	CN¥63.50 Million
2022	15.30%	28.44%	0.43x	1.25x	CN¥65.24 Million
2023	12.91%	24.45%	0.41x	1.30x	CN¥39.25 Million
2024	16.67%	26.18%	0.49x	1.31x	CN¥100.61 Million

Industry Comparison

This section compares Novoray Corporation's net assets metrics with peer companies in the Specialty Chemicals industry.

Industry Context

Industry: Specialty Chemicals
Average net assets among peers: $2,232,855,093
Average return on equity (ROE) among peers: 3.96%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Novoray Corporation (688300)	CN¥1.63 Billion	11.40%	0.36x	$3.33 Billion
Chongqing Sanxia Paints Co Ltd (000565)	$631.81 Million	6.70%	0.50x	$516.47 Million
Hengyi Petrochemical Co Ltd (000703)	$207.78 Million	-7.69%	0.69x	$8.23 Billion
Guangdong Xinhui Meida Nylon Co Ltd (000782)	$1.28 Billion	-17.84%	0.99x	$826.86 Million
Luxi Chemical Group Co Ltd (000830)	$2.27 Billion	9.90%	1.68x	$4.38 Billion
China Minmetals Rare Earth Co Ltd (000831)	$5.03 Billion	8.31%	0.10x	$8.58 Billion
Anhui Guofeng Plastic Industry Co Ltd (000859)	$1.65 Billion	5.07%	0.31x	$1.22 Billion
Cofco Biochemical Anhui Co Ltd (000930)	$10.20 Billion	5.81%	0.68x	$1.60 Billion
Shandong Link Science and Technology Co Ltd (001207)	$211.24 Million	7.97%	2.37x	$571.59 Million
Zhejiang Transfar Co Ltd (002010)	$379.82 Million	13.84%	0.21x	$2.37 Billion
Poly Union Chemical Holding Group Co Ltd (002037)	$466.37 Million	7.55%	0.43x	$614.61 Million

About Novoray Corporation

SHG:688300 China Specialty Chemicals

Market Cap

$3.33 Billion

CN¥22.77 Billion CNY

Market Cap Rank

#4669 Global

#871 in China

Share Price

CN¥94.29

Change (1 day)

-0.71%

52-Week Range

CN¥38.16 - CN¥99.96

All Time High

CN¥99.96