Novoray Corporation (688300) - Net Assets
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 tangible net worth ratio to evaluate the tangible quality of the company's equity base.
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. See operational self-sufficiency of Novoray Corporation to measure how many days the company can operate on defensive assets alone.
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 |
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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 |
|---|---|
|
Israel Discount Bank Ltd
TA:DSCT
|
$9.54 Billion |
|
MOWI ASA SP.ADR
F:PNDA
|
$9.54 Billion |
|
Jfrog Ltd
NASDAQ:FROG
|
$9.54 Billion |
|
Oshkosh Corporation
NYSE:OSK
|
$9.55 Billion |
|
Ecopro BM. Co. Ltd
KQ:247540
|
$9.54 Billion |
|
Xpeng Inc
NYSE:XPEV
|
$9.53 Billion |
|
Nordnet AB
ST:SAVE
|
$9.52 Billion |
|
Godaddy Inc
NYSE:GDDY
|
$9.51 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: 33.26x
- 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 265.90x to 33.26x 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¥269.99 | x |
| 2013-12-31 | CN¥0.97 | CN¥269.99 | x |
| 2014-12-31 | CN¥0.80 | CN¥269.99 | x |
| 2015-12-31 | CN¥1.00 | CN¥269.99 | x |
| 2016-12-31 | CN¥1.31 | CN¥269.99 | x |
| 2017-12-31 | CN¥1.48 | CN¥269.99 | x |
| 2018-12-31 | CN¥2.36 | CN¥269.99 | x |
| 2019-12-31 | CN¥4.82 | CN¥269.99 | x |
| 2020-12-31 | CN¥5.19 | CN¥269.99 | x |
| 2021-12-31 | CN¥5.89 | CN¥269.99 | x |
| 2022-12-31 | CN¥6.62 | CN¥269.99 | x |
| 2023-12-31 | CN¥7.28 | CN¥269.99 | x |
| 2024-12-31 | CN¥8.12 | CN¥269.99 | 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: $4,195,204,725
- Average return on equity (ROE) among peers: 12.99%
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 | $9.54 Billion |
| Chongqing Sanxia Paints Co Ltd (000565) | $68.04 Million | 13.07% | 2.21x | $375.61 Million |
| Hengyi Petrochemical Co Ltd (000703) | $30.29 Billion | 10.14% | 2.05x | $8.19 Billion |
| Guangdong Xinhui Meida Nylon Co Ltd (000782) | $823.60 Million | 2.14% | 0.74x | $783.65 Million |
| Luxi Chemical Group Co Ltd (000830) | $8.64 Billion | 2.92% | 1.90x | $3.62 Billion |
| China Minmetals Rare Earth Co Ltd (000831) | $191.02 Million | 12.96% | 1.30x | $8.95 Billion |
| Anhui Guofeng Plastic Industry Co Ltd (000859) | $1.07 Billion | 0.85% | 1.12x | $1.47 Billion |
| Cofco Biochemical Anhui Co Ltd (000930) | $592.08 Million | 13.66% | 1.28x | $1.23 Billion |
| Shandong Link Science and Technology Co Ltd (001207) | $96.46 Million | 22.88% | 0.50x | $694.21 Million |
| Zhejiang Transfar Co Ltd (002010) | $71.42 Million | 29.88% | 0.91x | $1.92 Billion |
| Poly Union Chemical Holding Group Co Ltd (002037) | $107.09 Million | 21.41% | 1.19x | $453.17 Million |
About Novoray Corporation
Novoray Corporation provides industrial powder materials in China and internationally. The company offers crystalline silica powder, fused silica powder, soft composite silica powder, round corner crystalline silica powder, spherical silica powder, spherical aluminum oxide powder, sub-micron spherical silica powder, and acicular powder. It serves electronic materials, electrical insulating materi… Read more