Shin Shin Co Ltd
Shin Shin Co Ltd. operates supermarkets, department store retail, cinemas, parking lots, leasing, and other business in Taiwan. It also offers VAC products, military fashion, and customized gifts. The company was founded in 1971 and is based in Taipei, Taiwan.
Shin Shin Co Ltd (2901) - Net Assets
Latest net assets as of September 2025: NT$874.98 Million TWD
Based on the latest financial reports, Shin Shin Co Ltd (2901) has net assets worth NT$874.98 Million 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$998.53 Million) and total liabilities (NT$123.55 Million). 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$874.98 Million |
| % of Total Assets | 87.63% |
| Annual Growth Rate | 0.6% |
| 5-Year Change | 2.69% |
| 10-Year Change | 1.82% |
| Growth Volatility | 1.15 |
Shin Shin Co Ltd - Net Assets Trend (2002–2024)
This chart illustrates how Shin Shin 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 Shin Shin Co Ltd (2002–2024)
The table below shows the annual net assets of Shin Shin Co Ltd from 2002 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$883.73 Million | +0.38% |
| 2023-12-31 | NT$880.35 Million | +1.61% |
| 2022-12-31 | NT$866.38 Million | +1.38% |
| 2021-12-31 | NT$854.60 Million | -0.70% |
| 2020-12-31 | NT$860.59 Million | -1.68% |
| 2019-12-31 | NT$875.30 Million | +0.55% |
| 2018-12-31 | NT$870.50 Million | +0.23% |
| 2017-12-31 | NT$868.48 Million | +0.62% |
| 2016-12-31 | NT$863.11 Million | -0.55% |
| 2015-12-31 | NT$867.91 Million | +0.88% |
| 2014-12-31 | NT$860.35 Million | +0.93% |
| 2013-12-31 | NT$852.40 Million | +0.72% |
| 2012-12-31 | NT$846.30 Million | +0.05% |
| 2011-12-31 | NT$845.89 Million | +1.57% |
| 2010-12-31 | NT$832.85 Million | -0.26% |
| 2009-12-31 | NT$835.00 Million | +0.57% |
| 2008-12-31 | NT$830.28 Million | +1.04% |
| 2007-12-31 | NT$821.76 Million | +1.61% |
| 2006-12-31 | NT$808.75 Million | -1.70% |
| 2005-12-31 | NT$822.77 Million | +3.63% |
| 2004-12-31 | NT$793.97 Million | +1.43% |
| 2003-12-31 | NT$782.75 Million | +1.11% |
| 2002-12-31 | NT$774.13 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Shin Shin 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 705.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$30.11 Million | 3.41% |
| Common Stock | NT$730.43 Million | 82.65% |
| Other Comprehensive Income | NT$122.73 Million | 13.89% |
| Other Components | NT$455.00K | 0.05% |
| Total Equity | NT$883.73 Million | 100.00% |
Shin Shin Co Ltd Competitors by Market Cap
The table below lists competitors of Shin Shin Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
First Bancshares Inc. (Bellevue OH)
PINK:FIBH
|
$22.31 Million |
|
Arogo Capital Acquisition Corp
NASDAQ:AOGO
|
$22.32 Million |
|
First Nordic Metals Corp
OTCQB:FNMCF
|
$22.33 Million |
|
Acrivon Therapeutics, Inc. Common Stock
NASDAQ:ACRV
|
$22.33 Million |
|
Focus Lighting and Fixtures Limited
NSE:FOCUS
|
$22.30 Million |
|
Medipharm Labs Corp
OTCQX:MEDIF
|
$22.30 Million |
|
Sand Nisko Capital Bhd
KLSE:7943
|
$22.29 Million |
|
Nam Kwang Cons
KO:001260
|
$22.29 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Shin Shin Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 880,351,000 to 883,729,000, a change of 3,378,000 (0.4%).
- Net income of 29,890,000 contributed positively to equity growth.
- Dividend payments of 26,335,000 reduced retained earnings.
- Other comprehensive income increased equity by 2,524,999.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$29.89 Million | +3.38% |
| Dividends Paid | NT$26.34 Million | -2.98% |
| Other Comprehensive Income | NT$2.52 Million | +0.29% |
| Other Changes | NT$-2.70 Million | -0.31% |
| Total Change | NT$- | 0.38% |
Book Value vs Market Value Analysis
This analysis compares Shin Shin 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: 1.93x
- 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 2.18x to 1.93x 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$10.87 | NT$23.70 | x |
| 2005-12-31 | NT$11.26 | NT$23.70 | x |
| 2006-12-31 | NT$11.07 | NT$23.70 | x |
| 2007-12-31 | NT$11.25 | NT$23.70 | x |
| 2008-12-31 | NT$11.37 | NT$23.70 | x |
| 2009-12-31 | NT$11.43 | NT$23.70 | x |
| 2010-12-31 | NT$11.40 | NT$23.70 | x |
| 2011-12-31 | NT$11.56 | NT$23.70 | x |
| 2012-12-31 | NT$11.59 | NT$23.70 | x |
| 2013-12-31 | NT$11.66 | NT$23.70 | x |
| 2014-12-31 | NT$11.77 | NT$23.70 | x |
| 2015-12-31 | NT$11.87 | NT$23.70 | x |
| 2016-12-31 | NT$11.80 | NT$23.70 | x |
| 2017-12-31 | NT$11.88 | NT$23.70 | x |
| 2018-12-31 | NT$11.90 | NT$23.70 | x |
| 2019-12-31 | NT$11.98 | NT$23.70 | x |
| 2020-12-31 | NT$11.77 | NT$23.70 | x |
| 2021-12-31 | NT$11.70 | NT$23.70 | x |
| 2022-12-31 | NT$11.85 | NT$23.70 | x |
| 2023-12-31 | NT$12.04 | NT$23.70 | x |
| 2024-12-31 | NT$12.25 | NT$23.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Shin Shin Co Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 3.38%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 22.37%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 1.14x
- Recent ROE (3.38%) is above the historical average (2.69%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2002 | 0.48% | 0.55% | 0.71x | 1.24x | NT$-73.67 Million |
| 2003 | 1.16% | 1.21% | 0.77x | 1.25x | NT$-69.19 Million |
| 2004 | 1.31% | 1.34% | 0.79x | 1.24x | NT$-68.99 Million |
| 2005 | 2.25% | 2.56% | 0.73x | 1.19x | NT$-63.80 Million |
| 2006 | 0.52% | 0.65% | 0.66x | 1.20x | NT$-76.69 Million |
| 2007 | 1.50% | 1.98% | 0.63x | 1.20x | NT$-69.85 Million |
| 2008 | 2.74% | 3.42% | 0.69x | 1.17x | NT$-60.26 Million |
| 2009 | 2.63% | 3.22% | 0.70x | 1.16x | NT$-61.51 Million |
| 2010 | 2.35% | 2.84% | 0.71x | 1.16x | NT$-63.70 Million |
| 2011 | 3.81% | 3.91% | 0.84x | 1.17x | NT$-52.26 Million |
| 2012 | 4.35% | 23.62% | 0.16x | 1.17x | NT$-47.83 Million |
| 2013 | 4.28% | 24.14% | 0.15x | 1.16x | NT$-48.79 Million |
| 2014 | 4.16% | 23.80% | 0.15x | 1.15x | NT$-50.25 Million |
| 2015 | 4.61% | 25.62% | 0.16x | 1.15x | NT$-46.78 Million |
| 2016 | 3.63% | 20.84% | 0.15x | 1.14x | NT$-54.96 Million |
| 2017 | 3.93% | 22.89% | 0.15x | 1.15x | NT$-52.74 Million |
| 2018 | 3.64% | 22.45% | 0.14x | 1.15x | NT$-55.39 Million |
| 2019 | 3.74% | 23.77% | 0.14x | 1.14x | NT$-54.81 Million |
| 2020 | 1.64% | 12.93% | 0.11x | 1.15x | NT$-71.97 Million |
| 2021 | 0.57% | 5.25% | 0.09x | 1.15x | NT$-80.58 Million |
| 2022 | 1.93% | 14.78% | 0.11x | 1.15x | NT$-69.89 Million |
| 2023 | 3.36% | 22.22% | 0.13x | 1.15x | NT$-58.42 Million |
| 2024 | 3.38% | 22.37% | 0.13x | 1.14x | NT$-58.48 Million |
Industry Comparison
This section compares Shin Shin Co Ltd's net assets metrics with peer companies in the Department Stores industry.
Industry Context
- Industry: Department Stores
- Average net assets among peers: $6,376,015,875
- Average return on equity (ROE) among peers: 5.88%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Shin Shin Co Ltd (2901) | NT$874.98 Million | 0.48% | 0.14x | $22.30 Million |
| First Steamship Co Ltd (2601) | $2.19 Billion | 0.00% | 0.33x | $131.52 Million |
| Far Eastern Department Stores Ltd (2903) | $37.39 Billion | 6.22% | 2.80x | $689.40 Million |
| Tonlin Department Store Co Ltd (2910) | $2.22 Billion | 4.51% | 1.33x | $19.00 Million |
| Eslite Spectrum (2926) | $561.52 Million | -23.00% | 30.03x | $21.91 Million |
| Jing-Jan Retail Business Co., Ltd. (2942) | $1.15 Billion | 17.60% | 5.64x | $10.93 Million |
| Taiwan FamilyMart Co Ltd (5903) | $1.65 Billion | 9.54% | 1.77x | $197.35 Million |
| Poya International Co Ltd (5904) | $2.40 Billion | 32.16% | 1.04x | $1.03 Billion |
| Grand Ocean Retail Group Ltd (5907) | $3.44 Billion | 0.00% | 2.16x | $19.26 Million |