China Glaze Co Ltd (1809) - Net Assets
Based on the latest financial reports, China Glaze Co Ltd (1809) has net assets worth NT$3.31 Billion TWD (≈ $104.14 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$4.51 Billion ≈ $142.14 Million USD) and total liabilities (NT$1.21 Billion ≈ $38.01 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 China Glaze Co Ltd (1809) tangible net worth to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.31 Billion |
| % of Total Assets | 73.26% |
| Annual Growth Rate | 2.29% |
| 5-Year Change | -2.16% |
| 10-Year Change | -18.15% |
| Growth Volatility | 13.19 |
China Glaze Co Ltd - Net Assets Trend (2002–2025)
This chart illustrates how China Glaze Co Ltd's net assets have evolved over time, based on quarterly financial data. See 1809 defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for China Glaze Co Ltd (2002–2025)
The table below shows the annual net assets of China Glaze Co Ltd from 2002 to 2025. For live valuation and market cap data, see market cap of China Glaze Co Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.31 Billion ≈ $104.14 Million |
-2.11% |
| 2024-12-31 | NT$3.38 Billion ≈ $106.38 Million |
+1.35% |
| 2023-12-31 | NT$3.33 Billion ≈ $104.96 Million |
-2.57% |
| 2022-12-31 | NT$3.42 Billion ≈ $107.73 Million |
+1.22% |
| 2021-12-31 | NT$3.38 Billion ≈ $106.44 Million |
-2.62% |
| 2020-12-31 | NT$3.47 Billion ≈ $109.30 Million |
-4.36% |
| 2019-12-31 | NT$3.63 Billion ≈ $114.28 Million |
-4.59% |
| 2018-12-31 | NT$3.80 Billion ≈ $119.78 Million |
-3.09% |
| 2017-12-31 | NT$3.92 Billion ≈ $123.60 Million |
-2.85% |
| 2016-12-31 | NT$4.04 Billion ≈ $127.23 Million |
-9.11% |
| 2015-12-31 | NT$4.44 Billion ≈ $139.98 Million |
-2.38% |
| 2014-12-31 | NT$4.55 Billion ≈ $143.40 Million |
+4.99% |
| 2013-12-31 | NT$4.34 Billion ≈ $136.59 Million |
+5.59% |
| 2012-12-31 | NT$4.11 Billion ≈ $129.36 Million |
-2.15% |
| 2011-12-31 | NT$4.20 Billion ≈ $132.20 Million |
+4.21% |
| 2010-12-31 | NT$4.03 Billion ≈ $126.86 Million |
+9.36% |
| 2009-12-31 | NT$3.68 Billion ≈ $116.00 Million |
+4.82% |
| 2008-12-31 | NT$3.51 Billion ≈ $110.66 Million |
+4.99% |
| 2007-12-31 | NT$3.35 Billion ≈ $105.40 Million |
+9.68% |
| 2006-12-31 | NT$3.05 Billion ≈ $96.10 Million |
+5.49% |
| 2005-12-31 | NT$2.89 Billion ≈ $91.10 Million |
+43.57% |
| 2004-12-31 | NT$2.01 Billion ≈ $63.45 Million |
-24.09% |
| 2003-12-31 | NT$2.65 Billion ≈ $83.59 Million |
+35.11% |
| 2002-12-31 | NT$1.96 Billion ≈ $61.86 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to China Glaze Co Ltd'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 457.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$699.90 Million | 23.89% |
| Common Stock | NT$1.67 Billion | 57.02% |
| Other Comprehensive Income | NT$443.82 Million | 15.15% |
| Other Components | NT$115.31 Million | 3.94% |
| Total Equity | NT$2.93 Billion | 100.00% |
China Glaze Co Ltd Competitors by Market Cap
The table below lists competitors of China Glaze Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Renatus Tactical Acquisition Corp I Class A Ordinary Shares
NASDAQ:RTAC
|
$251.88 Million |
|
Creditwest Faktoring AS
IS:CRDFA
|
$251.97 Million |
|
H+H International A/S
CO:HH
|
$251.99 Million |
|
Jeju Bank
KO:006220
|
$252.06 Million |
|
Lexinfintech Holdings Ltd
NASDAQ:LX
|
$251.78 Million |
|
Eugene Inv&Sec
KO:001200
|
$251.75 Million |
|
Grupa Azoty Zaklady Chemiczne Police SA
WAR:PCE
|
$251.53 Million |
|
Dirui Industrial Co Ltd
SHE:300396
|
$251.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in China Glaze Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,956,291,000 to 2,929,459,000, a change of -26,832,000 (-0.9%).
- Net income of 32,108,000 contributed positively to equity growth.
- Dividend payments of 41,760,000 reduced retained earnings.
- Other comprehensive income increased equity by 443,824,999.
- Other factors decreased equity by 461,004,999.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$32.11 Million | +1.1% |
| Dividends Paid | NT$41.76 Million | -1.43% |
| Other Comprehensive Income | NT$443.82 Million | +15.15% |
| Other Changes | NT$-461.00 Million | -15.74% |
| Total Change | NT$- | -0.91% |
Book Value vs Market Value Analysis
This analysis compares China Glaze Co Ltd'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: 2.06x
- 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 3.74x to 2.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | NT$12.80 | NT$47.85 | x |
| 2005-12-31 | NT$13.55 | NT$47.85 | x |
| 2006-12-31 | NT$13.97 | NT$47.85 | x |
| 2007-12-31 | NT$14.71 | NT$47.85 | x |
| 2008-12-31 | NT$15.53 | NT$47.85 | x |
| 2009-12-31 | NT$17.08 | NT$47.85 | x |
| 2010-12-31 | NT$19.68 | NT$47.85 | x |
| 2011-12-31 | NT$19.47 | NT$47.85 | x |
| 2012-12-31 | NT$19.27 | NT$47.85 | x |
| 2013-12-31 | NT$20.38 | NT$47.85 | x |
| 2014-12-31 | NT$21.51 | NT$47.85 | x |
| 2015-12-31 | NT$18.78 | NT$47.85 | x |
| 2016-12-31 | NT$18.16 | NT$47.85 | x |
| 2017-12-31 | NT$18.95 | NT$47.85 | x |
| 2018-12-31 | NT$18.69 | NT$47.85 | x |
| 2019-12-31 | NT$18.00 | NT$47.85 | x |
| 2020-12-31 | NT$17.37 | NT$47.85 | x |
| 2021-12-31 | NT$17.27 | NT$47.85 | x |
| 2022-12-31 | NT$17.63 | NT$47.85 | x |
| 2023-12-31 | NT$17.24 | NT$47.85 | x |
| 2024-12-31 | NT$17.68 | NT$47.85 | x |
| 2025-12-31 | NT$23.19 | NT$47.85 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently China Glaze Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.10%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.29%
- • Asset Turnover: 0.55x
- • Equity Multiplier: 1.54x
- Recent ROE (1.10%) is below the historical average (2.68%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 1.97% | 1.77% | 0.53x | 2.09x | NT$-162.96 Million |
| 2004 | 0.46% | 0.49% | 0.58x | 1.61x | NT$-191.71 Million |
| 2005 | 3.87% | 2.51% | 0.73x | 2.11x | NT$-130.45 Million |
| 2006 | 4.05% | 2.30% | 0.80x | 2.19x | NT$-130.50 Million |
| 2007 | 3.69% | 1.92% | 0.86x | 2.24x | NT$-145.70 Million |
| 2008 | 4.62% | 2.89% | 0.72x | 2.21x | NT$-131.25 Million |
| 2009 | 8.93% | 6.42% | 0.64x | 2.19x | NT$-28.18 Million |
| 2010 | 6.61% | 5.30% | 0.65x | 1.92x | NT$-102.85 Million |
| 2011 | 7.43% | 6.15% | 0.65x | 1.86x | NT$-83.76 Million |
| 2012 | 3.87% | 3.24% | 0.66x | 1.82x | NT$-197.45 Million |
| 2013 | 4.18% | 4.07% | 0.59x | 1.74x | NT$-198.32 Million |
| 2014 | 4.57% | 4.60% | 0.60x | 1.66x | NT$-195.54 Million |
| 2015 | 2.05% | 2.59% | 0.49x | 1.61x | NT$-284.36 Million |
| 2016 | 3.43% | 4.45% | 0.49x | 1.56x | NT$-217.05 Million |
| 2017 | -0.49% | -0.64% | 0.48x | 1.61x | NT$-331.94 Million |
| 2018 | 0.00% | 0.00% | 0.51x | 1.54x | NT$-312.11 Million |
| 2019 | -1.36% | -1.79% | 0.50x | 1.52x | NT$-341.43 Million |
| 2020 | -2.09% | -3.26% | 0.43x | 1.48x | NT$-350.89 Million |
| 2021 | 1.46% | 1.91% | 0.50x | 1.52x | NT$-246.61 Million |
| 2022 | 2.13% | 2.42% | 0.55x | 1.60x | NT$-232.34 Million |
| 2023 | -0.58% | -0.71% | 0.51x | 1.60x | NT$-304.66 Million |
| 2024 | 1.85% | 2.27% | 0.53x | 1.53x | NT$-240.81 Million |
| 2025 | 1.10% | 1.29% | 0.55x | 1.54x | NT$-260.84 Million |
Industry Comparison
This section compares China Glaze Co Ltd's net assets metrics with peer companies in the Building Products & Equipment industry.
Industry Context
- Industry: Building Products & Equipment
- Average net assets among peers: $3,852,800,500
- Average return on equity (ROE) among peers: 12.43%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| China Glaze Co Ltd (1809) | NT$3.31 Billion | 1.97% | 0.36x | $251.82 Million |
| Champion Building Materials Co Ltd (1806) | $4.79 Billion | 12.22% | 0.99x | $98.15 Million |
| Sunspring Metal Corp (2062) | $4.27 Billion | 15.24% | 0.12x | $118.14 Million |
| Buima Group (5543) | $753.17 Million | 2.99% | 0.44x | $42.97 Million |
| M.J. International Co Ltd (8466) | $2.66 Billion | 10.49% | 0.70x | $40.05 Million |
| CKM Building Material (8930) | $1.50 Billion | 17.06% | 0.53x | $69.31 Million |
| Kuo Toong International Co Ltd (8936) | $6.44 Billion | 2.99% | 0.89x | $459.57 Million |
| Taiwan Fu Hsing Industrial Co Ltd (9924) | $3.80 Billion | 9.38% | 0.29x | $189.99 Million |
| Globe Union Industrial Corp (9934) | $6.62 Billion | 29.04% | 1.52x | $127.68 Million |
About China Glaze Co Ltd
China Glaze Co.,Ltd. manufactures and sells ceramic glaze materials. The company offers frits, glazes, glass pigments, fine ceramics, crystallized glass, photoelectric fluorescent powders, and textile inks.It also provides building construction materials, such as crystallized glass; ceramic tiles; nano materials; and phosphor powder for photoelectric use and digital textile ink. The company was f… Read more