Hocheng Corp
Hocheng Corporation provides bathroom products in Taiwan and internationally. It offers sanitary ceramics and its attachments, tiles, ceramic toys, sand wheels, fine ceramics, electronic ceramics, voltage insulators, bricks, ceramic table wares, ceramic containers, artistic ceramic products, refractory materials, heat insulating materials, and other kiln ceramics; and bathroom appliances, includi… Read more
Hocheng Corp (1810) - Net Assets
Latest net assets as of September 2025: NT$6.85 Billion TWD
Based on the latest financial reports, Hocheng Corp (1810) has net assets worth NT$6.85 Billion TWD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$10.22 Billion) and total liabilities (NT$3.37 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$6.85 Billion |
| % of Total Assets | 67.01% |
| Annual Growth Rate | 0.01% |
| 5-Year Change | 15.97% |
| 10-Year Change | 22.37% |
| Growth Volatility | 7.17 |
Hocheng Corp - Net Assets Trend (2000–2024)
This chart illustrates how Hocheng Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Hocheng Corp (2000–2024)
The table below shows the annual net assets of Hocheng Corp from 2000 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$6.90 Billion | +2.61% |
| 2023-12-31 | NT$6.73 Billion | +3.35% |
| 2022-12-31 | NT$6.51 Billion | -11.56% |
| 2021-12-31 | NT$7.36 Billion | +23.65% |
| 2020-12-31 | NT$5.95 Billion | +4.29% |
| 2019-12-31 | NT$5.71 Billion | +2.97% |
| 2018-12-31 | NT$5.54 Billion | -5.05% |
| 2017-12-31 | NT$5.84 Billion | +2.15% |
| 2016-12-31 | NT$5.71 Billion | +1.30% |
| 2015-12-31 | NT$5.64 Billion | -4.37% |
| 2014-12-31 | NT$5.90 Billion | +4.99% |
| 2013-12-31 | NT$5.62 Billion | +1.35% |
| 2012-12-31 | NT$5.54 Billion | +0.23% |
| 2011-12-31 | NT$5.53 Billion | -4.09% |
| 2010-12-31 | NT$5.77 Billion | -1.89% |
| 2009-12-31 | NT$5.88 Billion | +1.30% |
| 2008-12-31 | NT$5.80 Billion | -8.51% |
| 2007-12-31 | NT$6.34 Billion | +0.44% |
| 2006-12-31 | NT$6.31 Billion | +5.16% |
| 2005-12-31 | NT$6.00 Billion | -1.22% |
| 2004-12-31 | NT$6.08 Billion | -11.38% |
| 2003-12-31 | NT$6.86 Billion | +10.06% |
| 2002-12-31 | NT$6.23 Billion | -8.04% |
| 2001-12-31 | NT$6.78 Billion | -1.51% |
| 2000-12-31 | NT$6.88 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hocheng 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 47.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.68 Billion | 24.52% |
| Common Stock | NT$3.02 Billion | 44.20% |
| Other Comprehensive Income | NT$2.13 Billion | 31.16% |
| Other Components | NT$8.17 Million | 0.12% |
| Total Equity | NT$6.84 Billion | 100.00% |
Hocheng Corp Competitors by Market Cap
The table below lists competitors of Hocheng Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ESR-REIT
PINK:CGIUF
|
$119.59 Million |
|
Karelia Tobacco Company Inc
AT:KARE
|
$119.60 Million |
|
Fujian Jinsen Forestry Co Ltd
SHE:002679
|
$119.61 Million |
|
Imexpharm Corp
VN:IMP
|
$119.65 Million |
|
ChargePoint Holdings Inc
NYSE:CHPT
|
$119.59 Million |
|
BGR Energy Systems Limited
NSE:BGRENERGY
|
$119.54 Million |
|
WALLIX GROUP EO -10
F:3WG
|
$119.51 Million |
|
Galata Wind Enerji Anonim Sirket
IS:GWIND
|
$119.51 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hocheng Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,669,472,000 to 6,839,502,000, a change of 170,030,000 (2.5%).
- Net income of 58,418,000 contributed positively to equity growth.
- Dividend payments of 60,461,000 reduced retained earnings.
- Other comprehensive income increased equity by 1,513,793,000.
- Other factors decreased equity by 1,341,720,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$58.42 Million | +0.85% |
| Dividends Paid | NT$60.46 Million | -0.88% |
| Other Comprehensive Income | NT$1.51 Billion | +22.13% |
| Other Changes | NT$-1.34 Billion | -19.62% |
| Total Change | NT$- | 2.55% |
Book Value vs Market Value Analysis
This analysis compares Hocheng 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: 0.78x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 0.93x to 0.78x 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$19.07 | NT$17.80 | x |
| 2010-12-31 | NT$18.65 | NT$17.80 | x |
| 2011-12-31 | NT$17.86 | NT$17.80 | x |
| 2012-12-31 | NT$17.92 | NT$17.80 | x |
| 2013-12-31 | NT$18.23 | NT$17.80 | x |
| 2014-12-31 | NT$19.12 | NT$17.80 | x |
| 2015-12-31 | NT$18.26 | NT$17.80 | x |
| 2016-12-31 | NT$18.44 | NT$17.80 | x |
| 2017-12-31 | NT$18.90 | NT$17.80 | x |
| 2018-12-31 | NT$18.09 | NT$17.80 | x |
| 2019-12-31 | NT$18.65 | NT$17.80 | x |
| 2020-12-31 | NT$19.47 | NT$17.80 | x |
| 2021-12-31 | NT$23.71 | NT$17.80 | x |
| 2022-12-31 | NT$18.60 | NT$17.80 | x |
| 2023-12-31 | NT$22.03 | NT$17.80 | x |
| 2024-12-31 | NT$22.70 | NT$17.80 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hocheng Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.85%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 1.20%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 1.53x
- Recent ROE (0.85%) is below the historical average (2.53%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 0.43% | 1.17% | 0.24x | 1.54x | NT$-656.10 Million |
| 2005 | 1.01% | 1.26% | 0.41x | 1.93x | NT$-524.84 Million |
| 2006 | 3.34% | 4.04% | 0.44x | 1.88x | NT$-403.57 Million |
| 2009 | -4.23% | -5.76% | 0.41x | 1.77x | NT$-818.96 Million |
| 2010 | 0.46% | 0.52% | 0.48x | 1.86x | NT$-539.36 Million |
| 2011 | 0.84% | 0.82% | 0.52x | 1.97x | NT$-494.10 Million |
| 2012 | 0.79% | 0.75% | 0.52x | 2.03x | NT$-498.69 Million |
| 2013 | 3.25% | 2.98% | 0.53x | 2.07x | NT$-371.94 Million |
| 2014 | 3.14% | 3.03% | 0.51x | 2.01x | NT$-396.80 Million |
| 2015 | 2.30% | 2.13% | 0.53x | 2.04x | NT$-425.72 Million |
| 2016 | 5.29% | 5.01% | 0.51x | 2.06x | NT$-264.53 Million |
| 2017 | 2.92% | 2.94% | 0.51x | 1.95x | NT$-406.52 Million |
| 2018 | -1.20% | -1.20% | 0.51x | 1.97x | NT$-611.74 Million |
| 2019 | 0.64% | 0.65% | 0.51x | 1.94x | NT$-527.75 Million |
| 2020 | 1.47% | 1.70% | 0.48x | 1.82x | NT$-502.04 Million |
| 2021 | 24.06% | 32.86% | 0.46x | 1.58x | NT$1.02 Billion |
| 2022 | 2.44% | 3.14% | 0.51x | 1.53x | NT$-487.51 Million |
| 2023 | 0.29% | 0.40% | 0.46x | 1.59x | NT$-647.60 Million |
| 2024 | 0.85% | 1.20% | 0.47x | 1.53x | NT$-625.53 Million |
Industry Comparison
This section compares Hocheng Corp's net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.
Industry Context
- Industry: Furnishings, Fixtures & Appliances
- Average net assets among peers: $6,468,556,222
- Average return on equity (ROE) among peers: 10.78%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hocheng Corp (1810) | NT$6.85 Billion | 0.43% | 0.49x | $119.59 Million |
| Zeng Hsing Industrial Co Ltd (1558) | $8.23 Billion | 5.97% | 0.53x | $159.60 Million |
| Sampo Corp (1604) | $7.48 Billion | 1.91% | 0.73x | $194.91 Million |
| China Electric Manufacturing Corp (1611) | $4.56 Billion | 1.75% | 0.29x | $96.73 Million |
| Taiwan Sanyo Electric Co Ltd (1614) | $5.17 Billion | 4.11% | 0.26x | $126.91 Million |
| Airmate Cayman International Co Ltd (1626) | $2.22 Billion | 22.35% | 2.06x | $26.74 Million |
| King Slide Works Co Ltd (2059) | $28.04 Billion | 35.08% | 0.25x | $5.64 Billion |
| Fortune Oriental Co Ltd (2491) | $724.35 Million | 5.40% | 1.92x | $24.92 Million |
| Bedding World Co., Ltd. (2938) | $492.43 Million | 17.07% | 2.01x | $3.06 Million |
| Ado Optronics (3516) | $1.30 Billion | 3.37% | 0.48x | $15.82 Million |