Tonghua Golden-Horse Pharmaceutical Industry Co Ltd (000766) — Working Capital to Net Assets Ratio
Tonghua Golden-Horse Pharmaceutical Industry Co Ltd (000766) has a Working Capital to Net Assets ratio of 30.1% as of March 2026. Working capital of CN¥697.89 Million (current assets of CN¥1.47 Billion minus current liabilities of CN¥774.91 Million) is measured against net assets of CN¥2.32 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Tonghua Golden-Horse Pharmaceutical Indu leverage flexibility ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Tonghua Golden-Horse Pharmaceutical Industry Co Ltd Working Capital to Net Assets (1994–2025)
This chart shows how Tonghua Golden-Horse Pharmaceutical Industry Co Ltd's Working Capital to Net Assets ratio has evolved across 32 annual periods from 1994 to 2025. As of March 2026, the ratio stands at 30.1%, reflecting working capital of CN¥697.89 Million against net assets of CN¥2.32 Billion CNY. See Tonghua Golden-Horse Pharmaceutical Indu defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Tonghua Golden-Horse Pharmaceutical Industry Co Ltd (1994–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Tonghua Golden-Horse Pharmaceutical Industry Co Ltd from 1994 to 2025, covering 32 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see how much is Tonghua Golden-Horse Pharmaceutical Indu worth.
| Year | WC/NA Ratio | Working Capital (CNY) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 29.5% | CN¥682.00 Million | CN¥2.31 Billion | CN¥1.20 Billion | CN¥513.19 Million | ▲ +71.5 pp |
| 2024 | -42.0% | CN¥-946.90 Million | CN¥2.26 Billion | CN¥1.21 Billion | CN¥2.16 Billion | ▼ -65.2 pp |
| 2023 | 23.2% | CN¥538.72 Million | CN¥2.32 Billion | CN¥1.11 Billion | CN¥572.49 Million | ▼ -0.7 pp |
| 2022 | 23.9% | CN¥566.51 Million | CN¥2.37 Billion | CN¥1.24 Billion | CN¥671.86 Million | ▲ +61.4 pp |
| 2021 | -37.4% | CN¥-875.86 Million | CN¥2.34 Billion | CN¥1.15 Billion | CN¥2.03 Billion | ▼ -70.6 pp |
| 2020 | 33.2% | CN¥765.25 Million | CN¥2.31 Billion | CN¥1.53 Billion | CN¥763.77 Million | ▲ +3.8 pp |
| 2019 | 29.3% | CN¥782.39 Million | CN¥2.67 Billion | CN¥1.69 Billion | CN¥905.03 Million | ▲ +10.6 pp |
| 2018 | 18.8% | CN¥883.75 Million | CN¥4.71 Billion | CN¥1.65 Billion | CN¥769.62 Million | ▼ -0.4 pp |
| 2017 | 19.1% | CN¥846.14 Million | CN¥4.42 Billion | CN¥1.73 Billion | CN¥880.92 Million | ▲ +0.6 pp |
| 2016 | 18.5% | CN¥771.04 Million | CN¥4.16 Billion | CN¥1.37 Billion | CN¥594.87 Million | ▲ +60.4 pp |
| 2015 | -41.9% | CN¥-940.14 Million | CN¥2.25 Billion | CN¥736.74 Million | CN¥1.68 Billion | ▼ -53.1 pp |
| 2014 | 11.3% | CN¥74.43 Million | CN¥659.50 Million | CN¥470.51 Million | CN¥396.08 Million | ▲ +3.6 pp |
| 2013 | 7.7% | CN¥47.25 Million | CN¥615.08 Million | CN¥512.05 Million | CN¥464.80 Million | ▼ -33.4 pp |
| 2012 | 41.1% | CN¥254.75 Million | CN¥619.60 Million | CN¥517.32 Million | CN¥262.57 Million | ▼ -0.1 pp |
| 2011 | 41.3% | CN¥250.53 Million | CN¥607.13 Million | CN¥510.50 Million | CN¥259.98 Million | ▲ +1.9 pp |
| 2010 | 39.4% | CN¥234.76 Million | CN¥595.89 Million | CN¥528.75 Million | CN¥293.99 Million | ▼ -4.1 pp |
| 2009 | 43.5% | CN¥254.00 Million | CN¥583.87 Million | CN¥526.64 Million | CN¥272.64 Million | ▼ -3.7 pp |
| 2008 | 47.2% | CN¥261.41 Million | CN¥554.08 Million | CN¥506.20 Million | CN¥244.79 Million | ▲ +3.0 pp |
| 2007 | 44.2% | CN¥237.47 Million | CN¥536.90 Million | CN¥497.18 Million | CN¥259.71 Million | ▲ +4.2 pp |
| 2006 | 40.1% | CN¥207.53 Million | CN¥518.07 Million | CN¥476.76 Million | CN¥269.23 Million | ▼ -718.8 pp |
| 2005 | 758.8% | CN¥343.45 Million | CN¥45.26 Million | CN¥528.77 Million | CN¥185.31 Million | ▲ +2215.6 pp |
| 2004 | -1456.8% | CN¥-533.72 Million | CN¥36.64 Million | CN¥520.71 Million | CN¥1.05 Billion | ▼ -1341.9 pp |
| 2003 | -114.8% | CN¥-340.02 Million | CN¥296.07 Million | CN¥744.83 Million | CN¥1.08 Billion | ▼ -85.3 pp |
| 2002 | -29.5% | CN¥-144.81 Million | CN¥490.79 Million | CN¥895.18 Million | CN¥1.04 Billion | ▼ -83.7 pp |
| 2001 | 54.2% | CN¥257.57 Million | CN¥475.05 Million | CN¥1.25 Billion | CN¥993.08 Million | ▲ +13.3 pp |
| 2000 | 40.9% | CN¥440.12 Million | CN¥1.08 Billion | CN¥1.62 Billion | CN¥1.18 Billion | ▼ -36.8 pp |
| 1999 | 77.6% | CN¥812.69 Million | CN¥1.05 Billion | CN¥1.10 Billion | CN¥286.18 Million | ▲ +4.6 pp |
| 1998 | 73.0% | CN¥464.75 Million | CN¥636.82 Million | CN¥698.78 Million | CN¥234.03 Million | ▲ +0.3 pp |
| 1997 | 72.7% | CN¥438.20 Million | CN¥602.89 Million | CN¥608.42 Million | CN¥170.21 Million | ▲ +29.8 pp |
| 1996 | 42.9% | CN¥82.07 Million | CN¥191.23 Million | CN¥238.15 Million | CN¥156.08 Million | ▼ -2.5 pp |
| 1995 | 45.5% | CN¥82.43 Million | CN¥181.32 Million | CN¥182.46 Million | CN¥100.03 Million | ▼ -11.0 pp |
| 1994 | 56.5% | CN¥97.04 Million | CN¥171.84 Million | CN¥147.51 Million | CN¥50.47 Million | — |