Ve Wong Corp (1203) - Net Assets
Based on the latest financial reports, Ve Wong Corp (1203) has net assets worth NT$7.59 Billion TWD (≈ $239.27 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 (NT$10.74 Billion ≈ $338.27 Million USD) and total liabilities (NT$3.14 Billion ≈ $99.01 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 tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$7.59 Billion |
| % of Total Assets | 70.73% |
| Annual Growth Rate | 5.6% |
| 5-Year Change | 18.76% |
| 10-Year Change | 40.54% |
| Growth Volatility | 8.55 |
Ve Wong Corp - Net Assets Trend (2002–2025)
This chart illustrates how Ve Wong Corp's net assets have evolved over time, based on quarterly financial data. See 1203 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Ve Wong Corp (2002–2025)
The table below shows the annual net assets of Ve Wong Corp from 2002 to 2025. For live valuation and market cap data, see 1203 market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$7.42 Billion ≈ $233.91 Million |
+2.97% |
| 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 |
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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 1654.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.13 Billion | 33.31% |
| Common Stock | NT$2.40 Billion | 37.61% |
| Other Comprehensive Income | NT$1.84 Billion | 28.86% |
| Other Components | NT$13.69 Million | 0.21% |
| Total Equity | NT$6.38 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 |
|---|---|
|
Suzhou Fushilai Pharmaceutical Co. Ltd.
SHE:301258
|
$323.28 Million |
|
ITAFOS INC. ON
F:82E
|
$323.34 Million |
|
Hainan Yedao Group Co Ltd
SHG:600238
|
$323.34 Million |
|
Zhejiang Dayang Biotech Group Co
SHE:003017
|
$323.40 Million |
|
Eupraxia Pharmaceuticals Inc
TO:EPRX
|
$323.15 Million |
|
enCore Energy Corp.
V:EU
|
$323.13 Million |
|
Dimed S.A. Distribuidora de Medicamentos
SA:PNVL3
|
$323.12 Million |
|
Unico Silver Ltd
AU:USL
|
$322.96 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 2024 to 2025, total equity changed from 6,179,471,000 to 6,380,806,000, a change of 201,335,000 (3.3%).
- Net income of 430,560,000 contributed positively to equity growth.
- Dividend payments of 285,247,000 reduced retained earnings.
- Other comprehensive income increased equity by 75,339,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$430.56 Million | +6.75% |
| Dividends Paid | NT$285.25 Million | -4.47% |
| Other Comprehensive Income | NT$75.34 Million | +1.18% |
| Other Changes | NT$-19.32 Million | -0.3% |
| Total Change | NT$- | 3.26% |
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: 2.58x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has increased from 2.23x to 2.58x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$19.32 | NT$43.15 | x |
| 2010-12-31 | NT$17.85 | NT$43.15 | x |
| 2011-12-31 | NT$16.84 | NT$43.15 | x |
| 2012-12-31 | NT$16.64 | NT$43.15 | x |
| 2013-12-31 | NT$17.34 | NT$43.15 | x |
| 2014-12-31 | NT$18.02 | NT$43.15 | x |
| 2015-12-31 | NT$17.80 | NT$43.15 | x |
| 2016-12-31 | NT$18.43 | NT$43.15 | x |
| 2017-12-31 | NT$19.12 | NT$43.15 | x |
| 2018-12-31 | NT$19.90 | NT$43.15 | x |
| 2019-12-31 | NT$21.02 | NT$43.15 | x |
| 2020-12-31 | NT$21.69 | NT$43.15 | x |
| 2021-12-31 | NT$22.17 | NT$43.15 | x |
| 2022-12-31 | NT$23.28 | NT$43.15 | x |
| 2023-12-31 | NT$24.27 | NT$43.15 | x |
| 2024-12-31 | NT$26.00 | NT$43.15 | x |
| 2025-12-31 | NT$16.75 | NT$43.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ve Wong Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.75%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.61%
- • Asset Turnover: 0.54x
- • Equity Multiplier: 1.64x
- Recent ROE (6.75%) is below the historical average (7.13%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 2.55% | 2.05% | 0.36x | 3.40x | NT$-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$-56.91 Million |
| 2025 | 6.75% | 7.61% | 0.54x | 1.64x | NT$-207.52 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: $28,608,318,667
- Average return on equity (ROE) among peers: 5.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ve Wong Corp (1203) | NT$7.59 Billion | 2.55% | 0.41x | $323.15 Million |
| Wei Chuan Foods Corp (1201) | $3.37 Billion | 0.00% | 2.77x | $198.50 Million |
| Great Wall Enterprise Co Ltd (1210) | $35.47 Billion | 10.22% | 1.15x | $1.45 Billion |
| Charoen Pokphand Enterprise Taiwan Co Ltd (1215) | $2.36 Billion | 0.12% | 0.82x | $1.08 Billion |
| Uni-President Enterprises Corp (1216) | $195.21 Billion | 9.39% | 2.41x | $13.61 Billion |
| AGV Products Corp (1217) | $7.40 Billion | 2.72% | 0.87x | $154.09 Million |
| Taisun Enterprise Co Ltd (1218) | $3.86 Billion | 5.19% | 1.17x | $275.03 Million |
| Fwusow Industry Co Ltd (1219) | $4.43 Billion | 7.26% | 1.32x | $135.46 Million |
| Tai Roun Products Co Ltd (1220) | $1.69 Billion | 0.00% | 0.47x | $65.02 Million |
| Formosa Oilseed Processing Co Ltd (1225) | $3.68 Billion | 10.47% | 0.81x | $251.88 Million |
About Ve Wong Corp
Ve Wong Corporation engages in the production and sale of monosodium glutamate, soy sauce, instant noodles, canned food, and beverages in Taiwan, Thailand, and Vietnam. The company offers canned foods, including pickled cucumber, pickled lettuce, chili turnip strips, strip cucumber with perilla, ginger crisp, chili bamboo shoots, fermented tofu, and garlic chili sauce; canned beverages, such as a… Read more