Hai Kwang Enterprise Corp (2038) - Net Assets
Based on the latest financial reports, Hai Kwang Enterprise Corp (2038) has net assets worth NT$4.12 Billion TWD (≈ $129.84 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$9.89 Billion ≈ $311.62 Million USD) and total liabilities (NT$5.77 Billion ≈ $181.78 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 Hai Kwang Enterprise Corp liquidity resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$4.12 Billion |
| % of Total Assets | 41.67% |
| Annual Growth Rate | 2.03% |
| 5-Year Change | 18.78% |
| 10-Year Change | 43.0% |
| Growth Volatility | 9.47 |
Hai Kwang Enterprise Corp - Net Assets Trend (2008–2024)
This chart illustrates how Hai Kwang Enterprise Corp's net assets have evolved over time, based on quarterly financial data. Also explore balance sheet size of Hai Kwang Enterprise Corp for the complete picture of this company's asset base.
Annual Net Assets for Hai Kwang Enterprise Corp (2008–2024)
The table below shows the annual net assets of Hai Kwang Enterprise Corp from 2008 to 2024. For live valuation and market cap data, see how much is Hai Kwang Enterprise Corp worth.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$4.21 Billion ≈ $132.49 Million |
+6.23% |
| 2023-12-31 | NT$3.96 Billion ≈ $124.72 Million |
+0.29% |
| 2022-12-31 | NT$3.95 Billion ≈ $124.36 Million |
+0.93% |
| 2021-12-31 | NT$3.91 Billion ≈ $123.22 Million |
+10.47% |
| 2020-12-31 | NT$3.54 Billion ≈ $111.54 Million |
+2.68% |
| 2019-12-31 | NT$3.45 Billion ≈ $108.63 Million |
-7.43% |
| 2018-12-31 | NT$3.72 Billion ≈ $117.35 Million |
-11.77% |
| 2017-12-31 | NT$4.22 Billion ≈ $132.99 Million |
+11.92% |
| 2016-12-31 | NT$3.77 Billion ≈ $118.83 Million |
+28.25% |
| 2015-12-31 | NT$2.94 Billion ≈ $92.65 Million |
-6.69% |
| 2014-12-31 | NT$3.15 Billion ≈ $99.30 Million |
-4.52% |
| 2013-12-31 | NT$3.30 Billion ≈ $104.00 Million |
+2.98% |
| 2012-12-31 | NT$3.21 Billion ≈ $100.99 Million |
-3.19% |
| 2011-12-31 | NT$3.31 Billion ≈ $104.32 Million |
+11.81% |
| 2010-12-31 | NT$2.96 Billion ≈ $93.30 Million |
+1.15% |
| 2009-12-31 | NT$2.93 Billion ≈ $92.24 Million |
-3.91% |
| 2008-12-31 | NT$3.05 Billion ≈ $96.00 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to Hai Kwang Enterprise 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 decreased by 43.2% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$603.51 Million | 15.15% |
| Common Stock | NT$1.90 Billion | 47.78% |
| Other Comprehensive Income | NT$1.08 Billion | 27.13% |
| Other Components | NT$396.01 Million | 9.94% |
| Total Equity | NT$3.98 Billion | 100.00% |
Hai Kwang Enterprise Corp Competitors by Market Cap
The table below lists competitors of Hai Kwang Enterprise Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Tycoons Group Enterprise Co Ltd
TW:2022
|
$86.26 Million |
|
Biomea Fusion Inc
NASDAQ:BMEA
|
$86.26 Million |
|
AGF A/S
CO:AGF-B
|
$86.26 Million |
|
JASTECH Ltd
KQ:090470
|
$86.32 Million |
|
Arena Bilgisayar Sanayi ve Ticaret AS
IS:ARENA
|
$86.23 Million |
|
AI TRANSPORTATION ACQUISITION CORP Ordinary shares
NASDAQ:AITR
|
$86.22 Million |
|
Airtasker Ltd
AU:ART
|
$86.21 Million |
|
IF Bancorp Inc
NASDAQ:IROQ
|
$86.17 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hai Kwang Enterprise Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,699,058,000 to 3,983,623,000, a change of 284,565,000 (7.7%).
- Net income of 37,717,000 contributed positively to equity growth.
- Other comprehensive income increased equity by 232,949,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$37.72 Million | +0.95% |
| Other Comprehensive Income | NT$232.95 Million | +5.85% |
| Other Changes | NT$13.90 Million | +0.35% |
| Total Change | NT$- | 7.69% |
Book Value vs Market Value Analysis
This analysis compares Hai Kwang Enterprise 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: 0.69x
- 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 0.87x to 0.69x 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$16.15 | NT$14.10 | x |
| 2010-12-31 | NT$14.93 | NT$14.10 | x |
| 2011-12-31 | NT$14.52 | NT$14.10 | x |
| 2012-12-31 | NT$15.97 | NT$14.10 | x |
| 2013-12-31 | NT$15.76 | NT$14.10 | x |
| 2014-12-31 | NT$14.94 | NT$14.10 | x |
| 2015-12-31 | NT$13.79 | NT$14.10 | x |
| 2016-12-31 | NT$17.73 | NT$14.10 | x |
| 2017-12-31 | NT$20.24 | NT$14.10 | x |
| 2018-12-31 | NT$17.55 | NT$14.10 | x |
| 2019-12-31 | NT$15.32 | NT$14.10 | x |
| 2020-12-31 | NT$15.77 | NT$14.10 | x |
| 2021-12-31 | NT$18.51 | NT$14.10 | x |
| 2022-12-31 | NT$18.77 | NT$14.10 | x |
| 2023-12-31 | NT$19.04 | NT$14.10 | x |
| 2024-12-31 | NT$20.49 | NT$14.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hai Kwang Enterprise 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): 0.95%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.39%
- • Asset Turnover: 0.95x
- • Equity Multiplier: 2.56x
- Recent ROE (0.95%) is below the historical average (1.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2008 | 16.11% | 2.76% | 2.91x | 2.01x | NT$186.29 Million |
| 2009 | -6.13% | -1.72% | 1.75x | 2.03x | NT$-472.34 Million |
| 2010 | 2.25% | 0.56% | 1.93x | 2.08x | NT$-229.58 Million |
| 2011 | 7.67% | 1.76% | 2.30x | 1.89x | NT$-77.14 Million |
| 2012 | 2.27% | 0.55% | 1.68x | 2.47x | NT$-240.86 Million |
| 2013 | -2.23% | -0.55% | 1.61x | 2.52x | NT$-356.92 Million |
| 2014 | -5.53% | -1.40% | 1.38x | 2.87x | NT$-429.18 Million |
| 2015 | -7.84% | -2.49% | 1.32x | 2.38x | NT$-454.99 Million |
| 2016 | 3.43% | 2.37% | 0.80x | 1.80x | NT$-215.92 Million |
| 2017 | 0.29% | 0.20% | 0.66x | 2.13x | NT$-363.63 Million |
| 2018 | -6.09% | -2.42% | 0.99x | 2.55x | NT$-521.86 Million |
| 2019 | -8.72% | -3.26% | 1.01x | 2.66x | NT$-556.65 Million |
| 2020 | 5.16% | 2.08% | 0.92x | 2.71x | NT$-148.41 Million |
| 2021 | 12.76% | 4.50% | 1.14x | 2.49x | NT$99.54 Million |
| 2022 | 5.77% | 1.91% | 1.18x | 2.57x | NT$-154.54 Million |
| 2023 | 1.44% | 0.57% | 0.99x | 2.55x | NT$-316.59 Million |
| 2024 | 0.95% | 0.39% | 0.95x | 2.56x | NT$-360.65 Million |
Industry Comparison
This section compares Hai Kwang Enterprise Corp's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $78,318,497,200
- Average return on equity (ROE) among peers: 5.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hai Kwang Enterprise Corp (2038) | NT$4.12 Billion | 16.11% | 1.40x | $86.24 Million |
| Walsin Lihwa Corp (1605) | $59.38 Billion | 13.22% | 0.34x | $4.21 Billion |
| China Steel Corp (2002) | $331.95 Billion | 5.09% | 1.01x | $9.00 Billion |
| China Steel Corp Pref (2002A) | $342.25 Billion | 0.49% | 0.98x | $46.78 Million |
| Tung Ho Steel Enterprise Corp (2006) | $14.24 Billion | 17.57% | 0.78x | $1.50 Billion |
| Yieh Hsing Enterprise Co Ltd (2007) | $3.22 Billion | -5.72% | 4.62x | $124.72 Million |
| Kao Hsiung Chang Iron & Steel Corp (2008) | $3.67 Billion | -10.06% | 0.43x | $165.35 Million |
| Chun Yuan Steel Industry Co Ltd (2010) | $9.90 Billion | 3.68% | 1.20x | $505.02 Million |
| Chun Yu Works & Co Ltd (2012) | $4.00 Billion | 6.23% | 1.65x | $129.09 Million |
| China Steel Structure Co Ltd (2013) | $2.65 Billion | 0.00% | 2.18x | $269.37 Million |
| Chung Hung Steel Corp (2014) | $11.93 Billion | 21.85% | 1.63x | $796.00 Million |
About Hai Kwang Enterprise Corp
Hai Kwang Enterprise Corporation engages in the manufacturing and sales of billets and reinforcing steel bars in Taiwan. The company provides bamboo rebar for building structures, tunnel engineering, and bridges applications. It is involved in real estate rental and leasing business. The company was founded in 1958 and is based in Kaohsiung City, Taiwan.