Ushine Photonics Corporation
Ushine Photonics Corporation engages in the production and supply of indium tin oxide (ITO) film products. The company offers resistive transparent conductive film, projected capacitive transparent conductive film, low-impedance transparent conductive film, iSDMS smart energy management system, an communication and control system products, such as LoRaWAN gateway module, Industrial-grade LoRaWAN … Read more
Ushine Photonics Corporation (3678) - Net Assets
Latest net assets as of June 2025: NT$553.97 Million TWD
Based on the latest financial reports, Ushine Photonics Corporation (3678) has net assets worth NT$553.97 Million 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$908.76 Million) and total liabilities (NT$354.79 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$553.97 Million |
| % of Total Assets | 60.96% |
| Annual Growth Rate | 16.76% |
| 5-Year Change | 201.18% |
| 10-Year Change | N/A |
| Growth Volatility | 33.75 |
Ushine Photonics Corporation - Net Assets Trend (2016–2024)
This chart illustrates how Ushine Photonics Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Ushine Photonics Corporation (2016–2024)
The table below shows the annual net assets of Ushine Photonics Corporation from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$565.01 Million | +12.26% |
| 2023-12-31 | NT$503.32 Million | -7.21% |
| 2022-12-31 | NT$542.45 Million | +98.30% |
| 2021-12-31 | NT$273.55 Million | +45.82% |
| 2020-12-31 | NT$187.60 Million | +0.22% |
| 2019-12-31 | NT$187.19 Million | +0.08% |
| 2018-12-31 | NT$187.04 Million | -6.86% |
| 2017-12-31 | NT$200.81 Million | +22.79% |
| 2016-12-31 | NT$163.54 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Ushine Photonics Corporation'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 26538500000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$182.46 Million | 32.29% |
| Common Stock | NT$264.22 Million | 46.76% |
| Other Comprehensive Income | NT$24.70 Million | 4.37% |
| Other Components | NT$93.63 Million | 16.57% |
| Total Equity | NT$565.01 Million | 100.00% |
Ushine Photonics Corporation Competitors by Market Cap
The table below lists competitors of Ushine Photonics Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Chayo Group Public Company Limited
BK:CHAYO
|
$19.33 Million |
|
Everest Industries Limited
NSE:EVERESTIND
|
$19.34 Million |
|
Techlead NPN Public Company Limited
BK:TL
|
$19.34 Million |
|
Dongil Ind
KO:004890
|
$19.35 Million |
|
Daeryuk Can Co. Ltd
KQ:004780
|
$19.33 Million |
|
PA Nova S.A.
WAR:NVA
|
$19.32 Million |
|
Pan Entertainment Co. Ltd
KQ:068050
|
$19.31 Million |
|
Better Life Group Co Ltd
TW:1805
|
$19.30 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Ushine Photonics Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 503,321,000 to 565,014,000, a change of 61,693,000 (12.3%).
- Net income of 66,256,000 contributed positively to equity growth.
- Dividend payments of 25,900,000 reduced retained earnings.
- New share issuances of 20,671,000 increased equity.
- Other comprehensive income increased equity by 119,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$66.26 Million | +11.73% |
| Dividends Paid | NT$25.90 Million | -4.58% |
| Share Issuances | NT$20.67 Million | +3.66% |
| Other Comprehensive Income | NT$119.00K | +0.02% |
| Other Changes | NT$547.00K | +0.1% |
| Total Change | NT$- | 12.26% |
Book Value vs Market Value Analysis
This analysis compares Ushine Photonics Corporation'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: 1.99x
- 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 4.68x to 1.99x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | NT$9.17 | NT$42.90 | x |
| 2017-12-31 | NT$11.21 | NT$42.90 | x |
| 2018-12-31 | NT$9.09 | NT$42.90 | x |
| 2019-12-31 | NT$9.10 | NT$42.90 | x |
| 2020-12-31 | NT$9.11 | NT$42.90 | x |
| 2021-12-31 | NT$11.55 | NT$42.90 | x |
| 2022-12-31 | NT$22.00 | NT$42.90 | x |
| 2023-12-31 | NT$19.09 | NT$42.90 | x |
| 2024-12-31 | NT$21.50 | NT$42.90 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Ushine Photonics Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.73%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.80%
- • Asset Turnover: 0.40x
- • Equity Multiplier: 1.57x
- Recent ROE (11.73%) is above the historical average (6.35%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 0.06% | 0.05% | 0.41x | 2.64x | NT$-16.26 Million |
| 2017 | 0.04% | 0.05% | 0.38x | 2.28x | NT$-20.00 Million |
| 2018 | -7.59% | -9.04% | 0.39x | 2.15x | NT$-32.90 Million |
| 2019 | 0.08% | 0.07% | 0.43x | 2.47x | NT$-18.58 Million |
| 2020 | 0.22% | 0.21% | 0.43x | 2.44x | NT$-18.34 Million |
| 2021 | 14.31% | 12.77% | 0.54x | 2.08x | NT$11.78 Million |
| 2022 | 33.51% | 36.86% | 0.56x | 1.62x | NT$127.55 Million |
| 2023 | 4.79% | 10.92% | 0.28x | 1.58x | NT$-26.25 Million |
| 2024 | 11.73% | 18.80% | 0.40x | 1.57x | NT$9.75 Million |
Industry Comparison
This section compares Ushine Photonics Corporation's net assets metrics with peer companies in the Chemicals industry.
Industry Context
- Industry: Chemicals
- Average net assets among peers: $47,057,989,600
- Average return on equity (ROE) among peers: 7.69%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Ushine Photonics Corporation (3678) | NT$553.97 Million | 0.06% | 0.64x | $19.33 Million |
| Taiwan Styrene Monomer Corp (1310) | $6.66 Billion | 16.30% | 0.70x | $136.89 Million |
| Grand Pacific Petrochemical Corp (1312) | $16.25 Billion | 10.72% | 0.47x | $358.21 Million |
| UPC Technology Corp (1313) | $29.90 Billion | 7.18% | 0.80x | $263.35 Million |
| Formosa Chemicals & Fibre Corp (1326) | $379.64 Billion | 11.55% | 0.43x | $4.35 Billion |
| Sesoda Corp (1708) | $3.05 Billion | 13.81% | 0.46x | $227.10 Million |
| Formosan Union Chemical Corp (1709) | $3.40 Billion | 0.00% | 0.29x | $154.81 Million |
| Oriental Union Chemical Corp (1710) | $17.82 Billion | -0.67% | 1.14x | $286.20 Million |
| Ho Tung Chemical Corp (1714) | $11.87 Billion | 10.01% | 1.26x | $202.24 Million |
| Sunko Ink Co Ltd (1721) | $595.83 Million | 0.00% | 0.86x | $64.82 Million |
| Chung Hwa Chemical Industrial Works Ltd (1727) | $1.39 Billion | 7.97% | 0.59x | $105.88 Million |