Hwang Chang General Contractor Co Ltd
Hwang Chang General Contractor Co., Ltd engages in the contracting business of civil engineering projects in Taiwan. The company manufactures and sells ready-mixed concrete. It also engages in earth retaining support and earthwork professional construction industry business. Hwang Chang General Contractor Co., Ltd was founded in 1981 and is based in Taipei, Taiwan.
Hwang Chang General Contractor Co Ltd (2543) - Net Assets
Latest net assets as of September 2025: NT$10.06 Billion TWD
Based on the latest financial reports, Hwang Chang General Contractor Co Ltd (2543) has net assets worth NT$10.06 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$19.47 Billion) and total liabilities (NT$9.41 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$10.06 Billion |
| % of Total Assets | 51.65% |
| Annual Growth Rate | 9.39% |
| 5-Year Change | 232.17% |
| 10-Year Change | 162.44% |
| Growth Volatility | 26.79 |
Hwang Chang General Contractor Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Hwang Chang General Contractor 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 Hwang Chang General Contractor Co Ltd (2002–2024)
The table below shows the annual net assets of Hwang Chang General Contractor Co Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$7.21 Billion | +116.64% |
| 2023-12-31 | NT$3.33 Billion | +17.67% |
| 2022-12-31 | NT$2.83 Billion | +10.39% |
| 2021-12-31 | NT$2.56 Billion | +18.04% |
| 2020-12-31 | NT$2.17 Billion | +2.15% |
| 2019-12-31 | NT$2.13 Billion | +0.81% |
| 2018-12-31 | NT$2.11 Billion | -20.56% |
| 2017-12-31 | NT$2.65 Billion | -2.60% |
| 2016-12-31 | NT$2.73 Billion | -0.83% |
| 2015-12-31 | NT$2.75 Billion | +4.93% |
| 2014-12-31 | NT$2.62 Billion | +40.28% |
| 2013-12-31 | NT$1.87 Billion | +9.28% |
| 2012-12-31 | NT$1.71 Billion | +0.64% |
| 2011-12-31 | NT$1.70 Billion | +3.78% |
| 2010-12-31 | NT$1.64 Billion | -12.56% |
| 2009-12-31 | NT$1.87 Billion | -17.34% |
| 2008-12-31 | NT$2.26 Billion | +3.92% |
| 2007-12-31 | NT$2.18 Billion | +15.13% |
| 2006-12-31 | NT$1.89 Billion | +33.98% |
| 2005-12-31 | NT$1.41 Billion | +12.14% |
| 2004-12-31 | NT$1.26 Billion | +16.62% |
| 2003-12-31 | NT$1.08 Billion | +7.80% |
| 2002-12-31 | NT$1.00 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Hwang Chang General Contractor 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 1327.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$1.03 Billion | 14.88% |
| Common Stock | NT$4.20 Billion | 60.88% |
| Other Comprehensive Income | NT$260.62 Million | 3.78% |
| Other Components | NT$1.41 Billion | 20.46% |
| Total Equity | NT$6.90 Billion | 100.00% |
Hwang Chang General Contractor Co Ltd Competitors by Market Cap
The table below lists competitors of Hwang Chang General Contractor Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Ningbo Donly Co Ltd
SHE:002164
|
$515.03 Million |
|
Malion New Materials Co Ltd
SHE:300586
|
$515.18 Million |
|
Guangdong High Dream Intellectualized Machinery Co Ltd Class A
SHE:300720
|
$515.21 Million |
|
CTO REALTY GROWTH NEW DL1
F:8QB0
|
$515.25 Million |
|
TOWA PHARMA. CO.
F:6QC
|
$514.92 Million |
|
Sichuan Huiyu Pharmaceutical Co Ltd
SHG:688553
|
$514.70 Million |
|
ICOSF
PINK:ICOSF
|
$514.68 Million |
|
Luolai Home Textile Co Ltd
SHE:002293
|
$514.67 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hwang Chang General Contractor Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,034,776,000 to 6,899,768,000, a change of 3,864,992,000 (127.4%).
- Net income of 2,017,813,000 contributed positively to equity growth.
- Dividend payments of 194,233,000 reduced retained earnings.
- New share issuances of 1,980,000,000 increased equity.
- Other comprehensive income increased equity by 260,623,000.
- Other factors decreased equity by 199,211,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$2.02 Billion | +29.24% |
| Dividends Paid | NT$194.23 Million | -2.82% |
| Share Issuances | NT$1.98 Billion | +28.7% |
| Other Comprehensive Income | NT$260.62 Million | +3.78% |
| Other Changes | NT$-199.21 Million | -2.89% |
| Total Change | NT$- | 127.36% |
Book Value vs Market Value Analysis
This analysis compares Hwang Chang General Contractor 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: 4.03x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 7.60x to 4.03x 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$9.42 | NT$71.60 | x |
| 2010-12-31 | NT$8.08 | NT$71.60 | x |
| 2011-12-31 | NT$8.50 | NT$71.60 | x |
| 2012-12-31 | NT$8.63 | NT$71.60 | x |
| 2013-12-31 | NT$9.61 | NT$71.60 | x |
| 2014-12-31 | NT$11.03 | NT$71.60 | x |
| 2015-12-31 | NT$10.59 | NT$71.60 | x |
| 2016-12-31 | NT$10.67 | NT$71.60 | x |
| 2017-12-31 | NT$10.49 | NT$71.60 | x |
| 2018-12-31 | NT$8.23 | NT$71.60 | x |
| 2019-12-31 | NT$8.32 | NT$71.60 | x |
| 2020-12-31 | NT$8.44 | NT$71.60 | x |
| 2021-12-31 | NT$9.95 | NT$71.60 | x |
| 2022-12-31 | NT$10.94 | NT$71.60 | x |
| 2023-12-31 | NT$12.75 | NT$71.60 | x |
| 2024-12-31 | NT$17.77 | NT$71.60 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hwang Chang General Contractor Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 29.24%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 16.23%
- • Asset Turnover: 0.75x
- • Equity Multiplier: 2.42x
- Recent ROE (29.24%) is above the historical average (4.15%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 2.70% | 0.67% | 1.16x | 3.44x | NT$-73.11 Million |
| 2003 | 8.97% | 2.51% | 1.12x | 3.20x | NT$-11.07 Million |
| 2004 | 8.58% | 2.42% | 1.09x | 3.26x | NT$-17.82 Million |
| 2005 | 5.62% | 2.18% | 0.70x | 3.69x | NT$-61.82 Million |
| 2006 | 10.05% | 2.42% | 1.06x | 3.91x | NT$973.00K |
| 2007 | 5.61% | 1.17% | 1.22x | 3.92x | NT$-88.31 Million |
| 2008 | 3.54% | 0.87% | 1.38x | 2.93x | NT$-132.90 Million |
| 2009 | -22.04% | -8.09% | 0.96x | 2.84x | NT$-540.38 Million |
| 2010 | -16.67% | -4.73% | 1.08x | 3.27x | NT$-385.53 Million |
| 2011 | 4.94% | 1.65% | 1.00x | 3.01x | NT$-76.94 Million |
| 2012 | 1.56% | 0.65% | 0.69x | 3.48x | NT$-130.39 Million |
| 2013 | 15.33% | 7.33% | 0.78x | 2.69x | NT$91.74 Million |
| 2014 | 11.84% | 5.31% | 1.03x | 2.15x | NT$45.12 Million |
| 2015 | 4.59% | 2.16% | 0.95x | 2.24x | NT$-138.83 Million |
| 2016 | 4.44% | 2.44% | 0.89x | 2.05x | NT$-142.14 Million |
| 2017 | 0.42% | 0.26% | 0.83x | 1.95x | NT$-238.77 Million |
| 2018 | -26.26% | -11.51% | 0.67x | 3.42x | NT$-708.71 Million |
| 2019 | -0.60% | -0.21% | 0.74x | 3.85x | NT$-209.36 Million |
| 2020 | 1.78% | 0.56% | 0.79x | 4.04x | NT$-164.78 Million |
| 2021 | 15.63% | 4.62% | 0.88x | 3.87x | NT$133.19 Million |
| 2022 | 9.30% | 2.87% | 0.65x | 4.96x | NT$-18.21 Million |
| 2023 | 16.81% | 4.52% | 0.77x | 4.85x | NT$206.55 Million |
| 2024 | 29.24% | 16.23% | 0.75x | 2.42x | NT$1.33 Billion |
Industry Comparison
This section compares Hwang Chang General Contractor Co Ltd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $5,537,388,333
- Average return on equity (ROE) among peers: 5.17%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hwang Chang General Contractor Co Ltd (2543) | NT$10.06 Billion | 2.70% | 0.94x | $514.98 Million |
| Tri Ocean Textile Co Ltd (1472) | $333.36 Million | -10.62% | 2.04x | $47.78 Million |
| Ju-Kao Engineering Co., Ltd. (1594) | $297.75 Million | -0.44% | 0.99x | $1.54 Million |
| United Integrated Services Co Ltd (2404) | $6.61 Billion | 18.38% | 1.52x | $4.54 Billion |
| Long Bon International Co Ltd (2514) | $8.15 Billion | 2.95% | 0.61x | $63.02 Million |
| BES Engineering Co (2515) | $19.46 Billion | 1.31% | 1.00x | $632.27 Million |
| New Asia Construction & Development Corp (2516) | $2.41 Billion | 2.77% | 2.80x | $83.75 Million |
| Delpha Construction Co Ltd (2530) | $3.35 Billion | 17.30% | 0.87x | $263.82 Million |
| Da-Cin Construction Co Ltd (2535) | $7.35 Billion | 8.58% | 1.32x | $428.26 Million |
| Kedge Construction Co Ltd (2546) | $1.88 Billion | 6.30% | 1.33x | $163.03 Million |