Sun Max Tech Ltd (6591) - Net Assets
Based on the latest financial reports, Sun Max Tech Ltd (6591) has net assets worth NT$2.25 Billion TWD (≈ $70.91 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$3.52 Billion ≈ $111.04 Million USD) and total liabilities (NT$1.27 Billion ≈ $40.13 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. Check Sun Max Tech Ltd (6591) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$2.25 Billion |
| % of Total Assets | 63.86% |
| Annual Growth Rate | 31.59% |
| 5-Year Change | 47.82% |
| 10-Year Change | 340.34% |
| Growth Volatility | 44.04 |
Sun Max Tech Ltd - Net Assets Trend (2014–2025)
This chart illustrates how Sun Max Tech Ltd's net assets have evolved over time, based on quarterly financial data. Also explore 6591 asset base for the complete picture of this company's asset base.
Annual Net Assets for Sun Max Tech Ltd (2014–2025)
The table below shows the annual net assets of Sun Max Tech Ltd from 2014 to 2025. For live valuation and market cap data, see market value of Sun Max Tech Ltd.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$2.25 Billion ≈ $70.91 Million |
+16.30% |
| 2024-12-31 | NT$1.94 Billion ≈ $60.97 Million |
+10.04% |
| 2023-12-31 | NT$1.76 Billion ≈ $55.40 Million |
+1.29% |
| 2022-12-31 | NT$1.74 Billion ≈ $54.70 Million |
+14.03% |
| 2021-12-31 | NT$1.52 Billion ≈ $47.97 Million |
+10.90% |
| 2020-12-31 | NT$1.37 Billion ≈ $43.25 Million |
+34.27% |
| 2019-12-31 | NT$1.02 Billion ≈ $32.21 Million |
+15.41% |
| 2018-12-31 | NT$885.90 Million ≈ $27.91 Million |
-0.30% |
| 2017-12-31 | NT$888.52 Million ≈ $27.99 Million |
+73.84% |
| 2016-12-31 | NT$511.11 Million ≈ $16.10 Million |
+145.14% |
| 2015-12-31 | NT$208.49 Million ≈ $6.57 Million |
+89.76% |
| 2014-12-31 | NT$109.87 Million ≈ $3.46 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Sun Max Tech 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 48251.6% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$635.82 Million | 28.33% |
| Common Stock | NT$411.23 Million | 18.32% |
| Other Components | NT$1.20 Billion | 53.35% |
| Total Equity | NT$2.24 Billion | 100.00% |
Sun Max Tech Ltd Competitors by Market Cap
The table below lists competitors of Sun Max Tech Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Orior AG
SW:ORON
|
$73.85 Million |
|
Lin Horn Technology Co Ltd
TWO:5464
|
$73.89 Million |
|
CammSys Corp
KQ:050110
|
$73.90 Million |
|
Anabatic Technologies Tbk PT
JK:ATIC
|
$73.94 Million |
|
Fortune Information Systems Corp
TW:2468
|
$73.84 Million |
|
Wintergreen Acquisition Corp. Ordinary Shares
NASDAQ:WTG
|
$73.84 Million |
|
Info Yatirim AS
IS:INFO
|
$73.78 Million |
|
Soonest Express Co Ltd
TWO:2643
|
$73.77 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Sun Max Tech Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,927,293,000 to 2,244,412,000, a change of 317,119,000 (16.5%).
- Net income of 208,152,000 contributed positively to equity growth.
- Dividend payments of 90,957,000 reduced retained earnings.
- New share issuances of 139,850,000 increased equity.
- Other comprehensive income decreased equity by 192,799,000.
- Other factors increased equity by 252,873,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$208.15 Million | +9.27% |
| Dividends Paid | NT$90.96 Million | -4.05% |
| Share Issuances | NT$139.85 Million | +6.23% |
| Other Comprehensive Income | NT$-192.80 Million | -8.59% |
| Other Changes | NT$252.87 Million | +11.27% |
| Total Change | NT$- | 16.45% |
Book Value vs Market Value Analysis
This analysis compares Sun Max Tech 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: 0.98x
- 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 4.27x to 0.98x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2014-12-31 | NT$13.36 | NT$57.00 | x |
| 2015-12-31 | NT$19.37 | NT$57.00 | x |
| 2016-12-31 | NT$29.36 | NT$57.00 | x |
| 2017-12-31 | NT$42.68 | NT$57.00 | x |
| 2018-12-31 | NT$36.52 | NT$57.00 | x |
| 2019-12-31 | NT$35.05 | NT$57.00 | x |
| 2020-12-31 | NT$43.66 | NT$57.00 | x |
| 2021-12-31 | NT$42.12 | NT$57.00 | x |
| 2022-12-31 | NT$46.80 | NT$57.00 | x |
| 2023-12-31 | NT$42.70 | NT$57.00 | x |
| 2024-12-31 | NT$49.96 | NT$57.00 | x |
| 2025-12-31 | NT$57.90 | NT$57.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Sun Max Tech Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.27%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 11.87%
- • Asset Turnover: 0.50x
- • Equity Multiplier: 1.57x
- Recent ROE (9.27%) is below the historical average (13.31%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2014 | 1.55% | 0.23% | 1.24x | 5.37x | NT$-9.29 Million |
| 2015 | 40.86% | 10.13% | 1.29x | 3.13x | NT$64.33 Million |
| 2016 | 28.81% | 12.54% | 1.17x | 1.97x | NT$96.15 Million |
| 2017 | 9.73% | 6.69% | 0.89x | 1.64x | NT$-2.43 Million |
| 2018 | 8.33% | 6.06% | 0.88x | 1.57x | NT$-14.81 Million |
| 2019 | 8.73% | 7.53% | 0.67x | 1.72x | NT$-13.00 Million |
| 2020 | 11.94% | 10.38% | 0.66x | 1.73x | NT$26.59 Million |
| 2021 | 14.46% | 11.89% | 0.73x | 1.66x | NT$67.44 Million |
| 2022 | 13.09% | 13.63% | 0.56x | 1.70x | NT$53.34 Million |
| 2023 | 6.77% | 8.57% | 0.53x | 1.50x | NT$-56.43 Million |
| 2024 | 6.20% | 9.47% | 0.42x | 1.55x | NT$-73.19 Million |
| 2025 | 9.27% | 11.87% | 0.50x | 1.57x | NT$-16.29 Million |
Industry Comparison
This section compares Sun Max Tech Ltd's net assets metrics with peer companies in the Computer Hardware industry.
Industry Context
- Industry: Computer Hardware
- Average net assets among peers: $37,332,807,700
- Average return on equity (ROE) among peers: -1.65%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Sun Max Tech Ltd (6591) | NT$2.25 Billion | 1.55% | 0.57x | $73.85 Million |
| Solytech Enterprise Corp (1471) | $1.00 Billion | -31.82% | 0.68x | $53.55 Million |
| Lite-On Technology Corp (2301) | $79.28 Billion | 11.88% | 1.66x | $11.87 Billion |
| Microtek International Inc (2305) | $2.23 Billion | -0.87% | 0.17x | $100.28 Million |
| Kinpo Electronics Inc (2312) | $14.67 Billion | 10.08% | 0.70x | $1.31 Billion |
| CMC Magnetics Corp (2323) | $33.57 Billion | -1.91% | 0.45x | $348.35 Million |
| Compal Electronics Inc (2324) | $115.99 Billion | 8.07% | 3.03x | $3.98 Billion |
| Elitegroup Computer Systems Co Ltd (2331) | $11.02 Billion | 0.42% | 1.12x | $360.88 Million |
| Ritek Corp (2349) | $9.39 Billion | -2.63% | 0.94x | $272.09 Million |
| Qisda Corp (2352) | $31.13 Billion | -5.81% | 2.57x | $975.88 Million |
| Acer Inc (2353) | $75.03 Billion | -3.88% | 2.02x | $2.61 Billion |
About Sun Max Tech Ltd
Sun Max Tech Limited, an investment holding company, manufactures, wholesales, retails, and trades cooling fans in China, Taiwan, and internationally. The company provides air purifiers, hanging neck fans, and UV sterilization bottles; and electronic cooling products, including axial and dish fans, and blowers. Sun Max Tech Limited was founded in 1998 and is based in New Taipei City, Taiwan.