Ve Wong Corp (1203) - Net Assets
Based on the latest financial reports, Ve Wong Corp (1203) has net assets worth NT$7.06 Billion TWD (≈ $222.29 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 (NT$10.41 Billion ≈ $327.89 Million USD) and total liabilities (NT$3.35 Billion ≈ $105.59 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 1203 asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$7.06 Billion |
| % of Total Assets | 67.8% |
| Annual Growth Rate | 5.73% |
| 5-Year Change | 14.23% |
| 10-Year Change | 39.56% |
| Growth Volatility | 8.71 |
Ve Wong Corp - Net Assets Trend (2002–2024)
This chart illustrates how Ve Wong Corp's net assets have evolved over time, based on quarterly financial data. Also explore 1203 total assets for the complete picture of this company's asset base.
Annual Net Assets for Ve Wong Corp (2002–2024)
The table below shows the annual net assets of Ve Wong Corp from 2002 to 2024. For live valuation and market cap data, see 1203 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$7.21 Billion ≈ $227.17 Million |
+6.63% |
| 2023-12-31 | NT$6.76 Billion ≈ $213.05 Million |
+2.84% |
| 2022-12-31 | NT$6.58 Billion ≈ $207.17 Million |
+5.19% |
| 2021-12-31 | NT$6.25 Billion ≈ $196.95 Million |
-0.97% |
| 2020-12-31 | NT$6.31 Billion ≈ $198.87 Million |
+1.56% |
| 2019-12-31 | NT$6.22 Billion ≈ $195.82 Million |
+5.71% |
| 2018-12-31 | NT$5.88 Billion ≈ $185.24 Million |
+4.82% |
| 2017-12-31 | NT$5.61 Billion ≈ $176.72 Million |
+6.17% |
| 2016-12-31 | NT$5.28 Billion ≈ $166.44 Million |
+2.25% |
| 2015-12-31 | NT$5.17 Billion ≈ $162.78 Million |
+0.33% |
| 2014-12-31 | NT$5.15 Billion ≈ $162.25 Million |
+5.15% |
| 2013-12-31 | NT$4.90 Billion ≈ $154.30 Million |
+3.61% |
| 2012-12-31 | NT$4.73 Billion ≈ $148.92 Million |
-0.62% |
| 2011-12-31 | NT$4.76 Billion ≈ $149.85 Million |
-7.03% |
| 2010-12-31 | NT$5.12 Billion ≈ $161.19 Million |
+2.38% |
| 2009-12-31 | NT$5.00 Billion ≈ $157.44 Million |
+12.44% |
| 2008-12-31 | NT$4.44 Billion ≈ $140.03 Million |
+10.95% |
| 2007-12-31 | NT$4.01 Billion ≈ $126.21 Million |
+0.28% |
| 2006-12-31 | NT$3.99 Billion ≈ $125.86 Million |
+3.95% |
| 2005-12-31 | NT$3.84 Billion ≈ $121.08 Million |
+15.34% |
| 2004-12-31 | NT$3.33 Billion ≈ $104.97 Million |
+38.62% |
| 2003-12-31 | NT$2.40 Billion ≈ $75.73 Million |
+13.48% |
| 2002-12-31 | NT$2.12 Billion ≈ $66.73 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Ve Wong Corp'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 1552.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.00 Billion | 32.40% |
| Common Stock | NT$2.40 Billion | 38.84% |
| Other Comprehensive Income | NT$1.77 Billion | 28.58% |
| Other Components | NT$10.93 Million | 0.18% |
| Total Equity | NT$6.18 Billion | 100.00% |
Ve Wong Corp Competitors by Market Cap
The table below lists competitors of Ve Wong Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Rashi Peripherals Limited
NSE:RPTECH
|
$326.59 Million |
|
Firm Capital Mortgage Invest Corp
TO:FC
|
$326.61 Million |
|
Cipher Pharmaceuticals Inc
TO:CPH
|
$326.62 Million |
|
Anhui Fuhuang Steel Structure Co Ltd
SHE:002743
|
$326.75 Million |
|
BayCom Corp
NASDAQ:BCML
|
$326.52 Million |
|
Hunan Baili Engineering Sci
SHG:603959
|
$326.45 Million |
|
Super-Dragon Engineering Plastics Co. Ltd
SHE:301131
|
$326.40 Million |
|
Trigold Holdings Ltd
TWO:3709
|
$326.38 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ve Wong Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 5,770,076,000 to 6,179,471,000, a change of 409,395,000 (7.1%).
- Net income of 561,042,000 contributed positively to equity growth.
- Dividend payments of 261,477,000 reduced retained earnings.
- Other comprehensive income increased equity by 120,679,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$561.04 Million | +9.08% |
| Dividends Paid | NT$261.48 Million | -4.23% |
| Other Comprehensive Income | NT$120.68 Million | +1.95% |
| Other Changes | NT$-10.85 Million | -0.18% |
| Total Change | NT$- | 7.10% |
Book Value vs Market Value Analysis
This analysis compares Ve Wong Corp'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: 1.68x
- 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 2.26x to 1.68x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$19.32 | NT$43.60 | x |
| 2010-12-31 | NT$17.85 | NT$43.60 | x |
| 2011-12-31 | NT$16.84 | NT$43.60 | x |
| 2012-12-31 | NT$16.64 | NT$43.60 | x |
| 2013-12-31 | NT$17.34 | NT$43.60 | x |
| 2014-12-31 | NT$18.02 | NT$43.60 | x |
| 2015-12-31 | NT$17.80 | NT$43.60 | x |
| 2016-12-31 | NT$18.43 | NT$43.60 | x |
| 2017-12-31 | NT$19.12 | NT$43.60 | x |
| 2018-12-31 | NT$19.90 | NT$43.60 | x |
| 2019-12-31 | NT$21.02 | NT$43.60 | x |
| 2020-12-31 | NT$21.69 | NT$43.60 | x |
| 2021-12-31 | NT$22.17 | NT$43.60 | x |
| 2022-12-31 | NT$23.28 | NT$43.60 | x |
| 2023-12-31 | NT$24.27 | NT$43.60 | x |
| 2024-12-31 | NT$26.00 | NT$43.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ve Wong Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.08%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.92%
- • Asset Turnover: 0.61x
- • Equity Multiplier: 1.66x
- Recent ROE (9.08%) is above the historical average (7.15%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 2.55% | 2.05% | 0.36x | 3.40x | NT$-157.89 Million |
| 2003 | 5.03% | 3.83% | 0.43x | 3.08x | NT$-114.27 Million |
| 2004 | 6.39% | 6.09% | 0.52x | 2.01x | NT$-117.29 Million |
| 2007 | 0.32% | 0.21% | 0.59x | 2.62x | NT$-315.62 Million |
| 2008 | 17.59% | 9.49% | 0.83x | 2.23x | NT$289.64 Million |
| 2009 | 10.72% | 6.53% | 0.89x | 1.84x | NT$30.13 Million |
| 2010 | 2.72% | 1.93% | 0.75x | 1.88x | NT$-308.97 Million |
| 2011 | 1.03% | 0.70% | 0.72x | 2.03x | NT$-358.93 Million |
| 2012 | 2.54% | 1.64% | 0.79x | 1.96x | NT$-295.13 Million |
| 2013 | 6.39% | 4.39% | 0.77x | 1.90x | NT$-148.66 Million |
| 2014 | 6.23% | 4.24% | 0.76x | 1.94x | NT$-161.37 Million |
| 2015 | 6.30% | 4.02% | 0.79x | 1.97x | NT$-156.55 Million |
| 2016 | 9.65% | 6.66% | 0.74x | 1.96x | NT$-15.18 Million |
| 2017 | 9.74% | 7.14% | 0.67x | 2.02x | NT$-11.83 Million |
| 2018 | 9.13% | 7.10% | 0.67x | 1.91x | NT$-41.21 Million |
| 2019 | 9.14% | 7.23% | 0.67x | 1.89x | NT$-42.87 Million |
| 2020 | 8.32% | 7.10% | 0.65x | 1.81x | NT$-86.45 Million |
| 2021 | 8.50% | 7.69% | 0.61x | 1.82x | NT$-79.09 Million |
| 2022 | 11.30% | 9.79% | 0.64x | 1.81x | NT$71.98 Million |
| 2023 | 7.41% | 6.68% | 0.63x | 1.75x | NT$-149.31 Million |
| 2024 | 9.08% | 8.92% | 0.61x | 1.66x | NT$-56.91 Million |
Industry Comparison
This section compares Ve Wong Corp's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $28,308,859,889
- Average return on equity (ROE) among peers: 6.12%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ve Wong Corp (1203) | NT$7.06 Billion | 2.55% | 0.48x | $326.52 Million |
| Wei Chuan Foods Corp (1201) | $6.86 Billion | 7.81% | 1.63x | $199.30 Million |
| Great Wall Enterprise Co Ltd (1210) | $14.78 Billion | 7.31% | 0.91x | $1.41 Billion |
| Charoen Pokphand Enterprise Taiwan Co Ltd (1215) | $5.18 Billion | 13.27% | 0.86x | $1.29 Billion |
| Uni-President Enterprises Corp (1216) | $210.68 Billion | 9.32% | 2.50x | $12.41 Billion |
| AGV Products Corp (1217) | $5.87 Billion | 0.87% | 1.13x | $154.24 Million |
| Taisun Enterprise Co Ltd (1218) | $3.67 Billion | 6.42% | 1.09x | $290.35 Million |
| Fwusow Industry Co Ltd (1219) | $3.64 Billion | 6.82% | 0.62x | $145.14 Million |
| Tai Roun Products Co Ltd (1220) | $2.39 Billion | 3.24% | 0.27x | $69.47 Million |
| Formosa Oilseed Processing Co Ltd (1225) | $1.71 Billion | 0.00% | 0.96x | $244.25 Million |
About Ve Wong Corp
Ve Wong Corporation produces and distributes foods, drinks, and seasonings in Taiwan, and internationally. It offers instant noodles and soups, monosodium glutamate (MSG), IG-enriched MSG, soup base seasonings, spice powder mixes, soy sauces, canned fried glutens, and canned mixed porridge-Chinese style. The company also provides canned drinks of asparagus, lemon tea, peach, guava, orange, mixed … Read more