TOPBI International Holdings Ltd (2929) - Net Assets
Based on the latest financial reports, TOPBI International Holdings Ltd (2929) has net assets worth NT$2.74 Billion TWD (≈ $86.35 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$3.79 Billion ≈ $119.49 Million USD) and total liabilities (NT$1.05 Billion ≈ $33.13 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. Also explore 2929 total asset value for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.74 Billion |
| % of Total Assets | 72.27% |
| Annual Growth Rate | 8.24% |
| 5-Year Change | -0.31% |
| 10-Year Change | -26.75% |
| Growth Volatility | 44.34 |
TOPBI International Holdings Ltd - Net Assets Trend (2012–2025)
This chart illustrates how TOPBI International Holdings Ltd's net assets have evolved over time, based on quarterly financial data. Check TOPBI International Holdings Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for TOPBI International Holdings Ltd (2012–2025)
The table below shows the annual net assets of TOPBI International Holdings Ltd from 2012 to 2025. For live valuation and market cap data, see TOPBI International Holdings Ltd stock valuation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.74 Billion ≈ $86.35 Million |
-5.94% |
| 2024-12-31 | NT$2.91 Billion ≈ $91.80 Million |
+4.02% |
| 2023-12-31 | NT$2.80 Billion ≈ $88.26 Million |
-4.14% |
| 2022-12-31 | NT$2.92 Billion ≈ $92.06 Million |
+6.29% |
| 2021-12-31 | NT$2.75 Billion ≈ $86.62 Million |
-21.22% |
| 2020-12-31 | NT$3.49 Billion ≈ $109.95 Million |
-38.44% |
| 2019-12-31 | NT$5.67 Billion ≈ $178.61 Million |
+14.09% |
| 2018-12-31 | NT$4.97 Billion ≈ $156.56 Million |
+10.32% |
| 2017-12-31 | NT$4.50 Billion ≈ $141.91 Million |
+20.38% |
| 2016-12-31 | NT$3.74 Billion ≈ $117.89 Million |
+6.12% |
| 2015-12-31 | NT$3.53 Billion ≈ $111.09 Million |
+12.49% |
| 2014-12-31 | NT$3.13 Billion ≈ $98.75 Million |
+24.54% |
| 2013-12-31 | NT$2.52 Billion ≈ $79.30 Million |
+157.03% |
| 2012-12-31 | NT$979.25 Million ≈ $30.85 Million |
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Equity Component Analysis
This analysis shows how different components contribute to TOPBI International 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 decreased by 1368.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | NT$1.09 Billion | 39.95% |
| Other Comprehensive Income | NT$596.86 Million | 21.78% |
| Other Components | NT$1.52 Billion | 55.38% |
| Total Equity | NT$2.74 Billion | 100.00% |
TOPBI International Holdings Ltd Competitors by Market Cap
The table below lists competitors of TOPBI International Holdings Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GSD Technologies Co. Ltd
TW:6641
|
$20.70 Million |
|
Matching Maximize Solution Public Company Limited
BK:MATCH
|
$20.71 Million |
|
Ken Holdings Bhd
KLSE:7323
|
$20.71 Million |
|
Sala @ Sathorn Property Fund
BK:SSPF
|
$20.72 Million |
|
Roctool
PA:ALROC
|
$20.70 Million |
|
OYAK Yatirim Ortakligi AS
IS:OYAYO
|
$20.70 Million |
|
Tower Resources Ltd
V:TWR
|
$20.68 Million |
|
Big Yellow Group PLC
LSE:BYG
|
$20.68 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in TOPBI International Holdings Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,913,919,000 to 2,740,871,000, a change of -173,048,000 (-5.9%).
- Net loss of 183,290,000 reduced equity.
- New share issuances of 7,158,000 increased equity.
- Other comprehensive income decreased equity by 94,751,000.
- Other factors increased equity by 97,835,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$-183.29 Million | -6.69% |
| Share Issuances | NT$7.16 Million | +0.26% |
| Other Comprehensive Income | NT$-94.75 Million | -3.46% |
| Other Changes | NT$97.83 Million | +3.57% |
| Total Change | NT$- | -5.94% |
Book Value vs Market Value Analysis
This analysis compares TOPBI International 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: 0.24x
- 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 0.56x to 0.24x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2012-12-31 | NT$10.80 | NT$6.00 | x |
| 2013-12-31 | NT$27.68 | NT$6.00 | x |
| 2014-12-31 | NT$29.43 | NT$6.00 | x |
| 2015-12-31 | NT$33.05 | NT$6.00 | x |
| 2016-12-31 | NT$34.95 | NT$6.00 | x |
| 2017-12-31 | NT$41.62 | NT$6.00 | x |
| 2018-12-31 | NT$45.44 | NT$6.00 | x |
| 2019-12-31 | NT$52.01 | NT$6.00 | x |
| 2020-12-31 | NT$31.91 | NT$6.00 | x |
| 2021-12-31 | NT$25.23 | NT$6.00 | x |
| 2022-12-31 | NT$26.81 | NT$6.00 | x |
| 2023-12-31 | NT$25.70 | NT$6.00 | x |
| 2024-12-31 | NT$26.74 | NT$6.00 | x |
| 2025-12-31 | NT$25.12 | NT$6.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently TOPBI International 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): -6.69%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -10.45%
- • Asset Turnover: 0.46x
- • Equity Multiplier: 1.38x
- Recent ROE (-6.69%) is below the historical average (6.70%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 37.75% | 13.25% | 1.53x | 1.86x | NT$271.70 Million |
| 2013 | 22.80% | 15.12% | 1.02x | 1.48x | NT$322.12 Million |
| 2014 | 24.06% | 16.19% | 0.99x | 1.50x | NT$440.62 Million |
| 2015 | 23.72% | 15.57% | 0.96x | 1.58x | NT$483.72 Million |
| 2016 | 19.65% | 12.91% | 0.92x | 1.65x | NT$361.06 Million |
| 2017 | 20.27% | 15.43% | 0.81x | 1.62x | NT$462.48 Million |
| 2018 | 19.19% | 14.10% | 0.80x | 1.71x | NT$456.70 Million |
| 2019 | 20.02% | 15.83% | 0.89x | 1.42x | NT$567.89 Million |
| 2020 | -64.04% | -79.57% | 0.48x | 1.66x | NT$-2.58 Billion |
| 2021 | -25.49% | -23.65% | 0.72x | 1.50x | NT$-975.75 Million |
| 2022 | 4.54% | 5.21% | 0.58x | 1.50x | NT$-159.45 Million |
| 2023 | -2.43% | -2.86% | 0.59x | 1.45x | NT$-348.34 Million |
| 2024 | 0.51% | 0.70% | 0.53x | 1.38x | NT$-276.59 Million |
| 2025 | -6.69% | -10.45% | 0.46x | 1.38x | NT$-457.38 Million |
Industry Comparison
This section compares TOPBI International Holdings Ltd's net assets metrics with peer companies in the Apparel Manufacturing industry.
Industry Context
- Industry: Apparel Manufacturing
- Average net assets among peers: $2,193,002,667
- Average return on equity (ROE) among peers: 5.98%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| TOPBI International Holdings Ltd (2929) | NT$2.74 Billion | 37.75% | 0.38x | $20.70 Million |
| Tah Hsin Industrial Corp (1315) | $6.92 Billion | 3.69% | 0.30x | $194.12 Million |
| Tex-Ray Industrial Co Ltd (1467) | $2.40 Billion | 6.25% | 1.82x | $77.28 Million |
| Tainan Enterprises Co Ltd (1473) | $3.30 Billion | 16.95% | 0.76x | $93.93 Million |
| Eclat Textile Co Ltd (1476) | $1.29 Billion | 6.85% | 0.79x | $2.97 Billion |
| Makalot Industrial Co Ltd (1477) | $2.95 Billion | 9.82% | 0.57x | $1.69 Billion |
| Munsin Garment (2916) | $1.05 Billion | 17.04% | 0.33x | $80.43 Million |
| Cayman Tung Ling Co Ltd (2924) | $158.10 Million | -21.70% | 0.56x | $29.92 Million |
| Roo Hsing Co Ltd (4414) | $409.92 Million | 1.22% | 5.13x | $71.72 Million |
| Hakers Enterprise Co Ltd (4432) | $1.26 Billion | 13.71% | 0.22x | $25.34 Million |
About TOPBI International Holdings Ltd
TOPBI International Holdings Limited, an investment holding company, designs, develops, and sells children's clothing and accessories in Taiwan and China. It is also involved in the property leasing activities; online sale of children's clothing; and online live streaming-related information services. TOPBI International Holdings Limited was founded in 2002 and is based in Taipei, Taiwan.