Hangzhou First PV Material Co Ltd (603806) — Working Capital to Net Assets Ratio
Hangzhou First PV Material Co Ltd (603806) has a Working Capital to Net Assets ratio of 87.8% as of September 2025. Working capital of CN¥14.12 Billion (current assets of CN¥15.28 Billion minus current liabilities of CN¥1.17 Billion) is measured against net assets of CN¥16.08 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Hangzhou First PV Material Co Ltd balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Hangzhou First PV Material Co Ltd Working Capital to Net Assets (2009–2024)
This chart shows how Hangzhou First PV Material Co Ltd's Working Capital to Net Assets ratio has evolved across 16 annual periods from 2009 to 2024. As of September 2025, the ratio stands at 87.8%, reflecting working capital of CN¥14.12 Billion against net assets of CN¥16.08 Billion CNY. Check tangible equity quality of Hangzhou First PV Material Co Ltd to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Hangzhou First PV Material Co Ltd (2009–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Hangzhou First PV Material Co Ltd from 2009 to 2024, covering 16 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 market cap of Hangzhou First PV Material Co Ltd.
| Year | WC/NA Ratio | Working Capital (CNY) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 87.1% | CN¥14.47 Billion | CN¥16.62 Billion | CN¥15.93 Billion | CN¥1.46 Billion | ▼ -1.9 pp |
| 2023 | 89.0% | CN¥14.06 Billion | CN¥15.80 Billion | CN¥17.34 Billion | CN¥3.28 Billion | ▼ -2.7 pp |
| 2022 | 91.7% | CN¥12.85 Billion | CN¥14.01 Billion | CN¥16.45 Billion | CN¥3.60 Billion | ▲ +15.5 pp |
| 2021 | 76.3% | CN¥9.30 Billion | CN¥12.19 Billion | CN¥10.76 Billion | CN¥1.46 Billion | ▼ -14.4 pp |
| 2020 | 90.7% | CN¥8.19 Billion | CN¥9.03 Billion | CN¥9.32 Billion | CN¥1.13 Billion | ▲ +0.6 pp |
| 2019 | 90.1% | CN¥5.88 Billion | CN¥6.53 Billion | CN¥6.74 Billion | CN¥861.53 Million | ▲ +15.8 pp |
| 2018 | 74.3% | CN¥4.13 Billion | CN¥5.56 Billion | CN¥5.01 Billion | CN¥885.14 Million | ▼ -2.5 pp |
| 2017 | 76.8% | CN¥3.86 Billion | CN¥5.03 Billion | CN¥4.52 Billion | CN¥660.13 Million | ▼ -3.4 pp |
| 2016 | 80.2% | CN¥3.88 Billion | CN¥4.84 Billion | CN¥4.52 Billion | CN¥638.33 Million | ▼ -3.9 pp |
| 2015 | 84.0% | CN¥3.59 Billion | CN¥4.27 Billion | CN¥4.13 Billion | CN¥547.36 Million | ▼ -2.0 pp |
| 2014 | 86.1% | CN¥3.27 Billion | CN¥3.80 Billion | CN¥3.71 Billion | CN¥436.74 Million | ▲ +10.3 pp |
| 2013 | 75.8% | CN¥1.44 Billion | CN¥1.90 Billion | CN¥1.88 Billion | CN¥434.79 Million | ▼ -1.4 pp |
| 2012 | 77.2% | CN¥1.39 Billion | CN¥1.80 Billion | CN¥1.69 Billion | CN¥295.73 Million | ▼ -1.9 pp |
| 2011 | 79.1% | CN¥1.03 Billion | CN¥1.30 Billion | CN¥1.22 Billion | CN¥192.20 Million | ▲ +6.3 pp |
| 2010 | 72.8% | CN¥533.75 Million | CN¥732.90 Million | CN¥717.22 Million | CN¥183.47 Million | ▲ +44.8 pp |
| 2009 | 28.0% | CN¥50.80 Million | CN¥181.21 Million | CN¥210.82 Million | CN¥160.02 Million | — |