Ting Sin Co Ltd
Ting Sin Co., Ltd. manufactures, sells, and tests aluminum alloy products worldwide. It operates through two segments, Aluminum Alloy Business and Leather Goods Business. The company offers aluminum ingots, aluminum alloy billets, aluminum alloy continuous casting and rolling coils, aluminum shots (deoxidizer), and magnesium bone nails; aluminum wire rods; and aluminum/magnesium alloys. It also e… Read more
Ting Sin Co Ltd (2358) - Net Assets
Latest net assets as of September 2023: NT$1.56 Billion TWD
Based on the latest financial reports, Ting Sin Co Ltd (2358) has net assets worth NT$1.56 Billion TWD as of September 2023.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$3.65 Billion) and total liabilities (NT$2.10 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$1.56 Billion |
| % of Total Assets | 42.59% |
| Annual Growth Rate | 7.57% |
| 5-Year Change | 61.97% |
| 10-Year Change | 176.63% |
| Growth Volatility | 38.63 |
Ting Sin Co Ltd - Net Assets Trend (2002–2022)
This chart illustrates how Ting Sin Co Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Ting Sin Co Ltd (2002–2022)
The table below shows the annual net assets of Ting Sin Co Ltd from 2002 to 2022.
| Year | Net Assets | Change |
|---|---|---|
| 2022-12-31 | NT$2.00 Billion | +12.27% |
| 2021-12-31 | NT$1.78 Billion | +46.76% |
| 2020-12-31 | NT$1.21 Billion | -0.62% |
| 2019-12-31 | NT$1.22 Billion | -1.08% |
| 2018-12-31 | NT$1.24 Billion | +38.67% |
| 2017-12-31 | NT$891.26 Million | +160.55% |
| 2016-12-31 | NT$342.06 Million | -31.06% |
| 2015-12-31 | NT$496.16 Million | -27.81% |
| 2014-12-31 | NT$687.32 Million | -5.02% |
| 2013-12-31 | NT$723.64 Million | -15.28% |
| 2012-12-31 | NT$854.19 Million | +29.38% |
| 2011-12-31 | NT$660.22 Million | -3.47% |
| 2010-12-31 | NT$683.95 Million | +3.90% |
| 2009-12-31 | NT$658.29 Million | +13.56% |
| 2008-12-31 | NT$579.66 Million | +2.98% |
| 2007-12-31 | NT$562.91 Million | +3.66% |
| 2006-12-31 | NT$543.04 Million | +1.45% |
| 2005-12-31 | NT$535.29 Million | +3.11% |
| 2004-12-31 | NT$519.15 Million | +8.95% |
| 2003-12-31 | NT$476.50 Million | +2.52% |
| 2002-12-31 | NT$464.77 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ting Sin 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 10253200000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2022)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$102.53 Million | 5.30% |
| Common Stock | NT$1.37 Billion | 70.61% |
| Other Comprehensive Income | NT$22.49 Million | 1.16% |
| Other Components | NT$443.65 Million | 22.93% |
| Total Equity | NT$1.93 Billion | 100.00% |
Ting Sin Co Ltd Competitors by Market Cap
The table below lists competitors of Ting Sin Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Visang Educati
KO:100220
|
$18.83 Million |
|
AMCON Distributing Company
NYSE MKT:DIT
|
$18.83 Million |
|
Vukile Property Fund Ltd
JSE:VKE
|
$18.83 Million |
|
Artemis Resources Ltd
PINK:ARTTF
|
$18.84 Million |
|
East Africa Metals Inc
PINK:EFRMF
|
$18.83 Million |
|
J.ESTINA Co.Ltd
KQ:026040
|
$18.83 Million |
|
Cintac
SN:CINTAC
|
$18.82 Million |
|
ENGILITY HLDGS
F:EH2
|
$18.82 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ting Sin Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2021 to 2022, total equity changed from 1,783,037,000 to 1,934,837,000, a change of 151,800,000 (8.5%).
- Net income of 1,586,000 contributed positively to equity growth.
- Dividend payments of 37,385,000 reduced retained earnings.
- New share issuances of 225,001,000 increased equity.
- Other comprehensive income increased equity by 31,346,000.
- Other factors decreased equity by 68,748,000.
Equity Change Factors (2021 to 2022)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.59 Million | +0.08% |
| Dividends Paid | NT$37.38 Million | -1.93% |
| Share Issuances | NT$225.00 Million | +11.63% |
| Other Comprehensive Income | NT$31.35 Million | +1.62% |
| Other Changes | NT$-68.75 Million | -3.55% |
| Total Change | NT$- | 8.51% |
Book Value vs Market Value Analysis
This analysis compares Ting Sin 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: 0.32x
- 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 0.43x to 0.32x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$10.52 | NT$4.56 | x |
| 2018-12-31 | NT$12.46 | NT$4.56 | x |
| 2019-12-31 | NT$12.38 | NT$4.56 | x |
| 2020-12-31 | NT$12.31 | NT$4.56 | x |
| 2021-12-31 | NT$14.31 | NT$4.56 | x |
| 2022-12-31 | NT$14.16 | NT$4.56 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ting Sin Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 0.08%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 0.08%
- • Asset Turnover: 0.53x
- • Equity Multiplier: 2.05x
- Recent ROE (0.08%) is above the historical average (-2.73%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 5.95% | 0.97% | 1.81x | 3.38x | NT$-19.32 Million |
| 2004 | 5.19% | 1.31% | 1.85x | 2.15x | NT$-24.99 Million |
| 2005 | 3.06% | 0.80% | 1.66x | 2.29x | NT$-37.16 Million |
| 2006 | 1.80% | 0.50% | 1.98x | 1.81x | NT$-44.54 Million |
| 2007 | 2.91% | 0.71% | 2.38x | 1.73x | NT$-39.91 Million |
| 2008 | 3.37% | 1.09% | 2.50x | 1.24x | NT$-38.44 Million |
| 2009 | 12.87% | 6.97% | 1.77x | 1.04x | NT$18.92 Million |
| 2010 | 4.02% | 3.12% | 1.23x | 1.05x | NT$-40.88 Million |
| 2013 | -18.04% | -8.35% | 1.84x | 1.17x | NT$-202.90 Million |
| 2014 | -5.28% | -1.99% | 1.99x | 1.33x | NT$-105.05 Million |
| 2015 | -38.53% | -11.72% | 2.24x | 1.47x | NT$-240.78 Million |
| 2016 | -45.05% | -7.97% | 1.35x | 4.19x | NT$-188.30 Million |
| 2017 | 3.87% | 1.39% | 1.33x | 2.09x | NT$-54.63 Million |
| 2018 | 5.69% | 3.02% | 0.91x | 2.08x | NT$-53.26 Million |
| 2019 | 0.10% | 0.06% | 0.70x | 2.41x | NT$-121.08 Million |
| 2020 | 0.86% | 0.54% | 0.61x | 2.59x | NT$-111.06 Million |
| 2021 | 8.08% | 5.71% | 0.63x | 2.24x | NT$-34.15 Million |
| 2022 | 0.08% | 0.08% | 0.53x | 2.05x | NT$-191.90 Million |
Industry Comparison
This section compares Ting Sin Co Ltd's net assets metrics with peer companies in the Aluminum industry.
Industry Context
- Industry: Aluminum
- Average net assets among peers: $3,643,594,333
- Average return on equity (ROE) among peers: 12.95%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ting Sin Co Ltd (2358) | NT$1.56 Billion | 5.95% | 1.35x | $18.83 Million |
| ALFORMER Industrial Co. Ltd. (4558) | $599.10 Million | 14.93% | 1.49x | $14.75 Million |
| Liton Technology (6175) | $2.59 Billion | 11.69% | 0.85x | $110.21 Million |
| Xxentria Technology Materials Co Ltd (8942) | $7.74 Billion | 12.23% | 0.45x | $155.33 Million |