Minfeng Special Paper Co Ltd (600235) — Working Capital to Net Assets Ratio
Minfeng Special Paper Co Ltd (600235) has a Working Capital to Net Assets ratio of -8.1% as of March 2026. Working capital of CN¥-123.00 Million (current assets of CN¥889.95 Million minus current liabilities of CN¥1.01 Billion) is measured against net assets of CN¥1.51 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See 600235 net asset quality score to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Minfeng Special Paper Co Ltd Working Capital to Net Assets (1998–2025)
This chart shows how Minfeng Special Paper Co Ltd's Working Capital to Net Assets ratio has evolved across 28 annual periods from 1998 to 2025. As of March 2026, the ratio stands at -8.1%, reflecting working capital of CN¥-123.00 Million against net assets of CN¥1.51 Billion CNY. Check how tangible is Minfeng Special Paper Co Ltd's equity to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Minfeng Special Paper Co Ltd (1998–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Minfeng Special Paper Co Ltd from 1998 to 2025, covering 28 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 600235 stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (CNY) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -9.1% | CN¥-138.07 Million | CN¥1.51 Billion | CN¥909.07 Million | CN¥1.05 Billion | ▲ +2.1 pp |
| 2024 | -11.2% | CN¥-168.29 Million | CN¥1.50 Billion | CN¥980.39 Million | CN¥1.15 Billion | ▼ -24.2 pp |
| 2023 | 13.0% | CN¥188.03 Million | CN¥1.45 Billion | CN¥1.09 Billion | CN¥904.20 Million | ▼ -4.9 pp |
| 2022 | 17.8% | CN¥250.95 Million | CN¥1.41 Billion | CN¥972.55 Million | CN¥721.60 Million | ▲ +2.1 pp |
| 2021 | 15.8% | CN¥220.21 Million | CN¥1.40 Billion | CN¥1.01 Billion | CN¥789.04 Million | ▲ +1.7 pp |
| 2020 | 14.0% | CN¥188.52 Million | CN¥1.34 Billion | CN¥1.02 Billion | CN¥832.91 Million | ▲ +7.3 pp |
| 2019 | 6.7% | CN¥86.86 Million | CN¥1.30 Billion | CN¥957.39 Million | CN¥870.52 Million | ▲ +6.3 pp |
| 2018 | 0.4% | CN¥5.19 Million | CN¥1.29 Billion | CN¥885.65 Million | CN¥880.46 Million | ▼ -13.5 pp |
| 2017 | 13.9% | CN¥179.53 Million | CN¥1.30 Billion | CN¥985.75 Million | CN¥806.22 Million | ▲ +5.7 pp |
| 2016 | 8.2% | CN¥104.17 Million | CN¥1.28 Billion | CN¥963.60 Million | CN¥859.43 Million | ▲ +7.1 pp |
| 2015 | 1.1% | CN¥13.63 Million | CN¥1.27 Billion | CN¥1.14 Billion | CN¥1.12 Billion | ▼ -12.5 pp |
| 2014 | 13.6% | CN¥194.41 Million | CN¥1.43 Billion | CN¥999.52 Million | CN¥805.11 Million | ▼ -9.2 pp |
| 2013 | 22.7% | CN¥325.17 Million | CN¥1.43 Billion | CN¥1.01 Billion | CN¥685.25 Million | ▲ +38.2 pp |
| 2012 | -15.4% | CN¥-150.95 Million | CN¥979.00 Million | CN¥788.44 Million | CN¥939.39 Million | ▼ -4.3 pp |
| 2011 | -11.1% | CN¥-114.93 Million | CN¥1.03 Billion | CN¥1.03 Billion | CN¥1.15 Billion | ▼ -7.0 pp |
| 2010 | -4.1% | CN¥-42.97 Million | CN¥1.04 Billion | CN¥645.78 Million | CN¥688.75 Million | ▲ +7.1 pp |
| 2009 | -11.3% | CN¥-109.57 Million | CN¥971.37 Million | CN¥666.64 Million | CN¥776.20 Million | ▲ +41.2 pp |
| 2008 | -52.5% | CN¥-484.91 Million | CN¥923.77 Million | CN¥631.45 Million | CN¥1.12 Billion | ▲ +11.9 pp |
| 2007 | -64.4% | CN¥-597.80 Million | CN¥927.85 Million | CN¥513.97 Million | CN¥1.11 Billion | ▲ +9.4 pp |
| 2006 | -73.9% | CN¥-666.86 Million | CN¥902.85 Million | CN¥555.85 Million | CN¥1.22 Billion | ▼ -1.9 pp |
| 2005 | -71.9% | CN¥-664.18 Million | CN¥923.54 Million | CN¥567.49 Million | CN¥1.23 Billion | ▼ -32.3 pp |
| 2004 | -39.7% | CN¥-370.10 Million | CN¥933.05 Million | CN¥525.69 Million | CN¥895.79 Million | ▼ -38.8 pp |
| 2003 | -0.9% | CN¥-8.00 Million | CN¥925.77 Million | CN¥564.88 Million | CN¥572.88 Million | ▼ -11.6 pp |
| 2002 | 10.7% | CN¥62.34 Million | CN¥580.61 Million | CN¥490.78 Million | CN¥428.44 Million | ▲ +2.2 pp |
| 2001 | 8.5% | CN¥47.54 Million | CN¥559.17 Million | CN¥487.98 Million | CN¥440.45 Million | ▼ -39.2 pp |
| 2000 | 47.7% | CN¥262.69 Million | CN¥551.02 Million | CN¥459.56 Million | CN¥196.87 Million | ▲ +27.2 pp |
| 1999 | 20.4% | CN¥41.20 Million | CN¥201.63 Million | CN¥256.61 Million | CN¥215.41 Million | ▲ +25.5 pp |
| 1998 | -5.0% | CN¥-9.78 Million | CN¥193.77 Million | CN¥205.38 Million | CN¥215.16 Million | — |