Tong Ming Enterprise Co Ltd
Tong Ming Enterprise Co., Ltd., together with its subsidiaries, manufactures and sells stainless steel fasteners and wires under the TONG brand name in China and internationally. It offers fasteners, such as screws, nuts, industrial rice, and threaded rods; and stainless-steel wires, which are used as customized raw materials for manufacturing small screws, kitchen supplies, mesh belts, re-stretc… Read more
Tong Ming Enterprise Co Ltd (5538) - Net Assets
Latest net assets as of September 2025: NT$6.96 Billion TWD
Based on the latest financial reports, Tong Ming Enterprise Co Ltd (5538) has net assets worth NT$6.96 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$13.47 Billion) and total liabilities (NT$6.51 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$6.96 Billion |
| % of Total Assets | 51.67% |
| Annual Growth Rate | 7.6% |
| 5-Year Change | 71.06% |
| 10-Year Change | 102.5% |
| Growth Volatility | 14.6 |
Tong Ming Enterprise Co Ltd - Net Assets Trend (2010–2024)
This chart illustrates how Tong Ming Enterprise 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 Tong Ming Enterprise Co Ltd (2010–2024)
The table below shows the annual net assets of Tong Ming Enterprise Co Ltd from 2010 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$7.15 Billion | +9.21% |
| 2023-12-31 | NT$6.54 Billion | -5.65% |
| 2022-12-31 | NT$6.93 Billion | +6.03% |
| 2021-12-31 | NT$6.54 Billion | +56.58% |
| 2020-12-31 | NT$4.18 Billion | +7.49% |
| 2019-12-31 | NT$3.89 Billion | -0.14% |
| 2018-12-31 | NT$3.89 Billion | +1.33% |
| 2017-12-31 | NT$3.84 Billion | +8.48% |
| 2016-12-31 | NT$3.54 Billion | +0.33% |
| 2015-12-31 | NT$3.53 Billion | -5.37% |
| 2014-12-31 | NT$3.73 Billion | +13.03% |
| 2013-12-31 | NT$3.30 Billion | +11.83% |
| 2012-12-31 | NT$2.95 Billion | +2.57% |
| 2011-12-31 | NT$2.88 Billion | +12.23% |
| 2010-12-31 | NT$2.56 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Tong Ming Enterprise 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 423.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.37 Billion | 33.32% |
| Common Stock | NT$2.01 Billion | 28.27% |
| Other Comprehensive Income | NT$-38.76 Million | -0.54% |
| Other Components | NT$2.77 Billion | 38.95% |
| Total Equity | NT$7.12 Billion | 100.00% |
Tong Ming Enterprise Co Ltd Competitors by Market Cap
The table below lists competitors of Tong Ming Enterprise Co Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhejiang Yuancheng Landscape
SHG:603388
|
$21.74 Million |
|
Aura Systems Inc
PINK:AUSI
|
$21.75 Million |
|
Nam Kwang Cons
KO:001260
|
$21.76 Million |
|
Doctor Care Anywhere Group Plc
AU:DOC
|
$21.76 Million |
|
SINGULAR PEOPLE S EO-1
F:H0U
|
$21.74 Million |
|
Axita Cotton Limited
NSE:AXITA
|
$21.73 Million |
|
HMCIB SPAC 3
KQ:226340
|
$21.73 Million |
|
Redtone International Bhd
KLSE:0032
|
$21.72 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Tong Ming Enterprise Co Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 6,516,434,000 to 7,116,119,000, a change of 599,685,000 (9.2%).
- Net income of 575,662,000 contributed positively to equity growth.
- Dividend payments of 201,203,000 reduced retained earnings.
- Other comprehensive income decreased equity by 1,415,378,000.
- Other factors increased equity by 1,640,604,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$575.66 Million | +8.09% |
| Dividends Paid | NT$201.20 Million | -2.83% |
| Other Comprehensive Income | NT$-1.42 Billion | -19.89% |
| Other Changes | NT$1.64 Billion | +23.05% |
| Total Change | NT$- | 9.20% |
Book Value vs Market Value Analysis
This analysis compares Tong Ming Enterprise 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: 0.86x
- 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 1.85x to 0.86x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | NT$16.42 | NT$30.45 | x |
| 2011-12-31 | NT$18.39 | NT$30.45 | x |
| 2012-12-31 | NT$18.87 | NT$30.45 | x |
| 2013-12-31 | NT$20.88 | NT$30.45 | x |
| 2014-12-31 | NT$21.29 | NT$30.45 | x |
| 2015-12-31 | NT$20.15 | NT$30.45 | x |
| 2016-12-31 | NT$20.36 | NT$30.45 | x |
| 2017-12-31 | NT$22.09 | NT$30.45 | x |
| 2018-12-31 | NT$22.00 | NT$30.45 | x |
| 2019-12-31 | NT$21.33 | NT$30.45 | x |
| 2020-12-31 | NT$22.80 | NT$30.45 | x |
| 2021-12-31 | NT$35.06 | NT$30.45 | x |
| 2022-12-31 | NT$34.36 | NT$30.45 | x |
| 2023-12-31 | NT$32.39 | NT$30.45 | x |
| 2024-12-31 | NT$35.37 | NT$30.45 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Tong Ming Enterprise 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): 8.09%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.59%
- • Asset Turnover: 0.90x
- • Equity Multiplier: 1.96x
- Recent ROE (8.09%) is below the historical average (11.26%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 17.85% | 9.44% | 1.08x | 1.75x | NT$199.28 Million |
| 2011 | 3.23% | 1.57% | 1.31x | 1.57x | NT$-192.65 Million |
| 2012 | 5.56% | 2.85% | 1.27x | 1.54x | NT$-129.69 Million |
| 2013 | 7.25% | 3.80% | 1.17x | 1.63x | NT$-89.65 Million |
| 2014 | 13.91% | 8.00% | 1.23x | 1.41x | NT$144.11 Million |
| 2015 | 6.83% | 3.96% | 1.18x | 1.45x | NT$-110.81 Million |
| 2016 | 13.22% | 7.78% | 1.20x | 1.42x | NT$113.63 Million |
| 2017 | 17.86% | 9.00% | 1.13x | 1.75x | NT$300.86 Million |
| 2018 | 13.82% | 6.03% | 1.16x | 1.98x | NT$148.08 Million |
| 2019 | 12.03% | 5.29% | 1.20x | 1.89x | NT$78.81 Million |
| 2020 | 11.86% | 5.38% | 1.04x | 2.13x | NT$77.36 Million |
| 2021 | 22.13% | 10.90% | 1.11x | 1.82x | NT$791.07 Million |
| 2022 | 13.18% | 5.91% | 1.14x | 1.96x | NT$219.96 Million |
| 2023 | 2.07% | 1.04% | 1.06x | 1.89x | NT$-516.47 Million |
| 2024 | 8.09% | 4.59% | 0.90x | 1.96x | NT$-135.95 Million |
Industry Comparison
This section compares Tong Ming Enterprise Co Ltd's net assets metrics with peer companies in the Steel industry.
Industry Context
- Industry: Steel
- Average net assets among peers: $14,507,134,500
- Average return on equity (ROE) among peers: 0.84%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Tong Ming Enterprise Co Ltd (5538) | NT$6.96 Billion | 17.85% | 0.94x | $21.74 Million |
| 1480 (1480) | $3.18 Billion | 0.46% | 1.04x | $28.61 Million |
| Walsin Lihwa Corp (1605) | $62.20 Billion | -4.32% | 0.82x | $2.92 Billion |
| Tung Ho Steel Enterprise Corp (2006) | $27.71 Billion | 12.86% | 0.60x | $1.04 Billion |
| Yieh Hsing Enterprise Co Ltd (2007) | $3.58 Billion | 0.00% | 3.75x | $31.36 Million |
| Kao Hsiung Chang Iron & Steel Corp (2008) | $2.62 Billion | 0.00% | 3.66x | $28.78 Million |
| Chun Yuan Steel Industry Co Ltd (2010) | $10.15 Billion | 4.10% | 0.66x | $342.51 Million |
| Chun Yu Works & Co Ltd (2012) | $2.58 Billion | 3.92% | 1.85x | $36.48 Million |
| Chung Hung Steel Corp (2014) | $12.53 Billion | -19.54% | 2.05x | $458.80 Million |
| Feng Hsin Steel Co Ltd (2015) | $16.58 Billion | 10.95% | 0.18x | $690.55 Million |
| Quintain Steel Co Ltd (2017) | $3.95 Billion | 0.00% | 0.88x | $71.75 Million |