Hsinli Chemical Industrial (4303) - Net Assets
Based on the latest financial reports, Hsinli Chemical Industrial (4303) has net assets worth NT$3.97 Billion TWD (≈ $125.20 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$4.81 Billion ≈ $151.51 Million USD) and total liabilities (NT$835.07 Million ≈ $26.31 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 4303 goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$3.97 Billion |
| % of Total Assets | 82.64% |
| Annual Growth Rate | 13.18% |
| 5-Year Change | 319.48% |
| 10-Year Change | N/A |
| Growth Volatility | 73.15 |
Hsinli Chemical Industrial - Net Assets Trend (2017–2025)
This chart illustrates how Hsinli Chemical Industrial's net assets have evolved over time, based on quarterly financial data. See Hsinli Chemical Industrial liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Hsinli Chemical Industrial (2017–2025)
The table below shows the annual net assets of Hsinli Chemical Industrial from 2017 to 2025. For live valuation and market cap data, see Hsinli Chemical Industrial (4303) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | NT$3.97 Billion ≈ $125.20 Million |
+32.92% |
| 2024-12-31 | NT$2.99 Billion ≈ $94.20 Million |
+213.62% |
| 2023-12-31 | NT$953.34 Million ≈ $30.04 Million |
+14.96% |
| 2022-12-31 | NT$829.25 Million ≈ $26.13 Million |
-12.47% |
| 2021-12-31 | NT$947.35 Million ≈ $29.85 Million |
+7.75% |
| 2020-12-31 | NT$879.20 Million ≈ $27.70 Million |
-11.47% |
| 2019-12-31 | NT$993.11 Million ≈ $31.29 Million |
+3.54% |
| 2018-12-31 | NT$959.18 Million ≈ $30.22 Million |
-35.00% |
| 2017-12-31 | NT$1.48 Billion ≈ $46.49 Million |
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Equity Component Analysis
This analysis shows how different components contribute to Hsinli Chemical Industrial'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 66.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$2.10 Billion | 60.03% |
| Other Components | NT$1.40 Billion | 39.97% |
| Total Equity | NT$3.49 Billion | 100.00% |
Hsinli Chemical Industrial Competitors by Market Cap
The table below lists competitors of Hsinli Chemical Industrial ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DR.Wu Skincare Co Ltd
TWO:6523
|
$138.66 Million |
|
Niu Technologies
NASDAQ:NIU
|
$138.69 Million |
|
EUROZ Hartleys Group Ltd
AU:EZL
|
$138.69 Million |
|
LEWAG Holding Aktiengesellschaft
F:KGR
|
$138.70 Million |
|
SHIMAO SERV.HLDGS HD-01
F:5GO
|
$138.51 Million |
|
Masterflex SE
F:MZX
|
$138.50 Million |
|
OrganiGram Holdings Inc
TO:OGI
|
$138.49 Million |
|
Mahkota Group Tbk PT
JK:MGRO
|
$138.40 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Hsinli Chemical Industrial's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,514,421,000 to 3,491,721,000, a change of 977,300,000 (38.9%).
- Net income of 1,054,458,000 contributed positively to equity growth.
- Dividend payments of 78,838,000 reduced retained earnings.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$1.05 Billion | +30.2% |
| Dividends Paid | NT$78.84 Million | -2.26% |
| Other Changes | NT$1.68 Million | +0.05% |
| Total Change | NT$- | 38.87% |
Book Value vs Market Value Analysis
This analysis compares Hsinli Chemical Industrial'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: 1.26x
- 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 2.21x to 1.26x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | NT$21.08 | NT$46.50 | x |
| 2018-12-31 | NT$13.70 | NT$46.50 | x |
| 2019-12-31 | NT$14.19 | NT$46.50 | x |
| 2020-12-31 | NT$12.56 | NT$46.50 | x |
| 2021-12-31 | NT$13.56 | NT$46.50 | x |
| 2022-12-31 | NT$12.28 | NT$46.50 | x |
| 2023-12-31 | NT$12.08 | NT$46.50 | x |
| 2024-12-31 | NT$31.89 | NT$46.50 | x |
| 2025-12-31 | NT$36.91 | NT$46.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Hsinli Chemical Industrial 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): 30.20%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 106.71%
- • Asset Turnover: 0.21x
- • Equity Multiplier: 1.38x
- Recent ROE (30.20%) is above the historical average (23.07%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2017 | 83.22% | 293.99% | 0.22x | 1.29x | NT$1.08 Billion |
| 2018 | 9.46% | 21.01% | 0.37x | 1.21x | NT$-5.20 Million |
| 2019 | 11.50% | 27.00% | 0.35x | 1.23x | NT$14.88 Million |
| 2020 | -3.23% | -8.54% | 0.28x | 1.34x | NT$-116.35 Million |
| 2021 | 14.44% | 37.47% | 0.29x | 1.33x | NT$42.03 Million |
| 2022 | -4.97% | -12.66% | 0.23x | 1.74x | NT$-124.12 Million |
| 2023 | 12.95% | 76.34% | 0.10x | 1.63x | NT$28.13 Million |
| 2024 | 54.03% | 363.30% | 0.09x | 1.65x | NT$1.11 Billion |
| 2025 | 30.20% | 106.71% | 0.21x | 1.38x | NT$705.29 Million |
Industry Comparison
This section compares Hsinli Chemical Industrial's net assets metrics with peer companies in the Footwear & Accessories industry.
Industry Context
- Industry: Footwear & Accessories
- Average net assets among peers: $19,597,107,714
- Average return on equity (ROE) among peers: 8.10%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Hsinli Chemical Industrial (4303) | NT$3.97 Billion | 83.22% | 0.21x | $138.60 Million |
| Victory New Materials Ltd Co (1340) | $2.61 Billion | -15.28% | 0.13x | $25.87 Million |
| Sports Gear Co. Ltd (6768) | $10.96 Billion | 12.86% | 0.45x | $542.15 Million |
| Paiho Shih Holdings Corp (8404) | $2.67 Billion | 11.06% | 0.92x | $218.96 Million |
| Shui-Mu International Co Ltd (8443) | $1.73 Billion | 7.35% | 0.47x | $24.10 Million |
| Fulgent Sun International Holding Co Ltd (9802) | $2.60 Billion | 26.31% | 0.48x | $471.76 Million |
| Pou Chen Corp (9904) | $105.74 Billion | 4.80% | 1.15x | $2.41 Billion |
| Feng Tay Enterprises Co Ltd (9910) | $10.89 Billion | 9.60% | 0.31x | $2.17 Billion |
About Hsinli Chemical Industrial
HsinLi Chemical Industrial Corp. engages in the manufacture and sale of synthetic and plastic leather products in Taiwan and internationally. The company provides TPU products, moisture-penetrate polyurethane (PU) films, and PU synthetic leather products; furniture, automobile decoration, and soft polyvinyl chloride series products; and leather sofa, wallpapers, car seats, seat covers, and cushio… Read more