Sino Horizon Holdings Ltd
Sino Horizon Holdings Limited, together with its subsidiaries, engages in the development, sale, and leasing of real estate properties in mainland China and Taiwan. It operates through Real-Estate Development and Sales, Commercial Leasing, Property Management, and Others segments. The company's property portfolio includes housing, shopping malls, and office buildings. Sino Horizon Holdings Limite… Read more
Sino Horizon Holdings Ltd (2923) - Net Assets
Latest net assets as of June 2025: NT$46.36 Billion TWD
Based on the latest financial reports, Sino Horizon Holdings Ltd (2923) has net assets worth NT$46.36 Billion TWD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$117.26 Billion) and total liabilities (NT$70.89 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$46.36 Billion |
| % of Total Assets | 39.54% |
| Annual Growth Rate | 17.19% |
| 5-Year Change | -4.34% |
| 10-Year Change | -10.12% |
| Growth Volatility | 80.25 |
Sino Horizon Holdings Ltd - Net Assets Trend (2008–2024)
This chart illustrates how Sino Horizon Holdings 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 Sino Horizon Holdings Ltd (2008–2024)
The table below shows the annual net assets of Sino Horizon Holdings Ltd from 2008 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$51.80 Billion | +3.83% |
| 2023-12-31 | NT$49.89 Billion | -0.99% |
| 2022-12-31 | NT$50.39 Billion | -4.37% |
| 2021-12-31 | NT$52.70 Billion | -2.69% |
| 2020-12-31 | NT$54.15 Billion | -1.20% |
| 2019-12-31 | NT$54.81 Billion | +4.35% |
| 2018-12-31 | NT$52.52 Billion | -2.75% |
| 2017-12-31 | NT$54.01 Billion | +0.36% |
| 2016-12-31 | NT$53.82 Billion | -6.62% |
| 2015-12-31 | NT$57.64 Billion | +2.24% |
| 2014-12-31 | NT$56.37 Billion | +73.30% |
| 2013-12-31 | NT$32.53 Billion | +9.20% |
| 2012-12-31 | NT$29.79 Billion | +5.29% |
| 2011-12-31 | NT$28.29 Billion | +34.60% |
| 2010-12-31 | NT$21.02 Billion | +19.21% |
| 2009-12-31 | NT$17.63 Billion | +330.67% |
| 2008-12-31 | NT$4.09 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Sino Horizon Holdings 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 2377.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$36.54 Billion | 72.12% |
| Other Components | NT$14.12 Billion | 27.88% |
| Total Equity | NT$50.66 Billion | 100.00% |
Sino Horizon Holdings Ltd Competitors by Market Cap
The table below lists competitors of Sino Horizon Holdings Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SRG Mining Inc
PINK:SRGMF
|
$24.69 Million |
|
Wafangdian Bearing Co Ltd
SHE:200706
|
$24.70 Million |
|
Proteomics International Laboratories Ltd
AU:PIQ
|
$24.70 Million |
|
PLASTIQ.V.LOI.INH.EO -90
F:1R9
|
$24.70 Million |
|
IDENIX PHARM
MU:NO9
|
$24.66 Million |
|
Alves Kablo San As
IS:ALVES
|
$24.66 Million |
|
Southern Acids (M) Bhd
KLSE:5134
|
$24.66 Million |
|
Astro Malaysia Holdings Bhd
KLSE:6399
|
$24.66 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sino Horizon Holdings Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 48,863,173,000 to 50,659,634,000, a change of 1,796,461,000 (3.7%).
- Net income of 759,299,000 contributed positively to equity growth.
- Dividend payments of 348,059,000 reduced retained earnings.
- Other comprehensive income decreased equity by 11,130,169,000.
- Other factors increased equity by 12,515,390,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$759.30 Million | +1.5% |
| Dividends Paid | NT$348.06 Million | -0.69% |
| Other Comprehensive Income | NT$-11.13 Billion | -21.97% |
| Other Changes | NT$12.52 Billion | +24.7% |
| Total Change | NT$- | 3.68% |
Book Value vs Market Value Analysis
This analysis compares Sino Horizon Holdings 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: 0.64x
- 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 increased from 0.31x to 0.64x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2009-12-31 | NT$60.20 | NT$18.65 | x |
| 2010-12-31 | NT$13.24 | NT$18.65 | x |
| 2011-12-31 | NT$16.08 | NT$18.65 | x |
| 2012-12-31 | NT$16.94 | NT$18.65 | x |
| 2013-12-31 | NT$18.09 | NT$18.65 | x |
| 2014-12-31 | NT$30.74 | NT$18.65 | x |
| 2015-12-31 | NT$31.32 | NT$18.65 | x |
| 2016-12-31 | NT$29.23 | NT$18.65 | x |
| 2017-12-31 | NT$29.40 | NT$18.65 | x |
| 2018-12-31 | NT$28.74 | NT$18.65 | x |
| 2019-12-31 | NT$31.32 | NT$18.65 | x |
| 2020-12-31 | NT$30.96 | NT$18.65 | x |
| 2021-12-31 | NT$30.18 | NT$18.65 | x |
| 2022-12-31 | NT$28.81 | NT$18.65 | x |
| 2023-12-31 | NT$28.03 | NT$18.65 | x |
| 2024-12-31 | NT$29.11 | NT$18.65 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sino Horizon Holdings Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 1.50%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 8.87%
- • Asset Turnover: 0.07x
- • Equity Multiplier: 2.57x
- Recent ROE (1.50%) is below the historical average (3.92%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2009 | 1.22% | 6.57% | 0.06x | 2.95x | NT$-1.49 Billion |
| 2010 | 4.71% | 14.42% | 0.12x | 2.76x | NT$-1.07 Billion |
| 2011 | 18.56% | 124.86% | 0.06x | 2.59x | NT$2.34 Billion |
| 2012 | 5.10% | 13.95% | 0.14x | 2.55x | NT$-1.41 Billion |
| 2013 | 4.15% | 12.14% | 0.15x | 2.35x | NT$-1.85 Billion |
| 2014 | 5.41% | 37.71% | 0.06x | 2.23x | NT$-2.46 Billion |
| 2015 | 6.35% | 27.17% | 0.10x | 2.26x | NT$-1.99 Billion |
| 2016 | 4.70% | 32.22% | 0.07x | 2.23x | NT$-2.70 Billion |
| 2017 | 0.29% | 2.94% | 0.04x | 2.27x | NT$-4.97 Billion |
| 2018 | 3.26% | 23.54% | 0.06x | 2.38x | NT$-3.37 Billion |
| 2019 | 0.77% | 7.37% | 0.05x | 2.26x | NT$-5.05 Billion |
| 2020 | 2.18% | 8.77% | 0.12x | 2.15x | NT$-4.23 Billion |
| 2021 | 2.23% | 24.38% | 0.04x | 2.11x | NT$-4.09 Billion |
| 2022 | 1.18% | 6.43% | 0.08x | 2.23x | NT$-4.44 Billion |
| 2023 | 1.16% | 4.82% | 0.10x | 2.48x | NT$-4.32 Billion |
| 2024 | 1.50% | 8.87% | 0.07x | 2.57x | NT$-4.31 Billion |
Industry Comparison
This section compares Sino Horizon Holdings Ltd's net assets metrics with peer companies in the Real Estate - Development industry.
Industry Context
- Industry: Real Estate - Development
- Average net assets among peers: $6,584,659,200
- Average return on equity (ROE) among peers: 6.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sino Horizon Holdings Ltd (2923) | NT$46.36 Billion | 1.22% | 1.53x | $24.68 Million |
| HUA YU LIEN Development Co Ltd (1436) | $3.02 Billion | 16.10% | 3.53x | $129.39 Million |
| Advancetek Enterprise Co Ltd (1442) | $5.24 Billion | 2.31% | 1.02x | $178.30 Million |
| Better Life Group Co Ltd (1805) | $323.75 Million | 0.00% | 2.24x | $19.30 Million |
| Run Long Construction Co Ltd (1808) | $2.63 Billion | 29.05% | 2.13x | $368.38 Million |
| Jean Co Ltd (2442) | $3.33 Billion | 0.00% | 1.23x | $101.72 Million |
| Kuo Yang Construction Co Ltd (2505) | $8.22 Billion | 0.69% | 1.26x | $116.40 Million |
| Pacific Construction Co Ltd (2506) | $15.29 Billion | 0.00% | 2.26x | $53.85 Million |
| Prince Housing & Development Corp (2511) | $10.50 Billion | -3.12% | 3.02x | $221.71 Million |
| King’s Town Construction Co Ltd (2524) | $8.23 Billion | 17.33% | 1.31x | $49.96 Million |
| Hung Sheng Construction Ltd (2534) | $9.07 Billion | 0.00% | 1.89x | $203.67 Million |