Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) Scaled Net Operating Assets: 0.51 (As of Dec. 2025)

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HKSE:01938 Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Ltd HKSE:01938
46 GF Score
Price HK$0.22
GF Value HK$0.17
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Scaled Net Operating Assets?

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings HKSE:01938 -1.82% 46 Scaled Net Operating Assets is 0.51 as of Dec. 2025. GuruFocus rates HKSE:01938 with a GF Score™ of 46/100 and a GF Value™ of HK$0.17 (Modestly Overvalued). The stock has 6 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's operating assets for the quarter that ended in Dec. 2025 was HK$6,517 Mil. Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's operating liabilities for the quarter that ended in Dec. 2025 was HK$2,995 Mil. Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Total Assets for the quarter that ended in Jun. 2025 was HK$6,874 Mil. Therefore, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.51.


Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Scaled Net Operating Assets Chart

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.32 0.31 0.43 0.46 0.51

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.42 0.46 0.47 0.49 0.51

HKSE:01938 vs NUE, STLD, RS: Scaled Net Operating Assets Comparison

For the Steel subindustry, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Scaled Net Operating Assets vs Steel Industry

For the Steel industry and Basic Materials sector, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Scaled Net Operating Assets falls into.


HKSE:01938
46GF Score
Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Ltd HKSE:01938
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(6516.96-2994.912)/6946.209
=0.51

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6540.66 - 23.7
=6516.96

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4889.059 - 748.843 - 1145.304
=2994.912

Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Jun. 2025 )
=(6516.96-2994.912)/6874.432
=0.51

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6540.66 - 23.7
=6516.96

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=4889.059 - 748.843 - 1145.304
=2994.912

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.51 mean?
Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) has a Scaled Net Operating Assets of 0.51 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Chu Kong Petroleum and Natural Gas Steel Pipe Holdings and its competitors.
Is Chu Kong Petroleum and Natural Gas Steel Pipe Holdings' Scaled Net Operating Assets too high?
Chu Kong Petroleum and Natural Gas Steel Pipe Holdings' current Scaled Net Operating Assets is 0.51. Overall, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings has a GF Score™ of 46/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Chu Kong Petroleum and Natural Gas Steel Pipe Holdings' Scaled Net Operating Assets compare to NUE and STLD?
Chu Kong Petroleum and Natural Gas Steel Pipe Holdings' Scaled Net Operating Assets of 0.51 can be compared against companies in the Steel industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Steel company?
A good Scaled Net Operating Assets depends on the Steel industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Chu Kong Petroleum and Natural Gas Steel Pipe Holdings and its competitors. Chu Kong Petroleum and Natural Gas Steel Pipe Holdings's current Scaled Net Operating Assets is 0.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chu Kong Petroleum and Natural Gas Steel Pipe Holdings stock overvalued right now?
Based on GuruFocus' analysis, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.17, compared to a current price of HK$0.22 — trading 27.1% above its estimated fair value. The current Scaled Net Operating Assets is 0.51. Chu Kong Petroleum and Natural Gas Steel Pipe Holdings' overall GF Score™ is 46/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938), the current Scaled Net Operating Assets is 0.51 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Chu Kong Petroleum and Natural Gas Steel Pipe Holdings (HKSE:01938) Overvalued in 2026?

Based on GuruFocus' analysis, Chu Kong Petroleum and Natural Gas Steel Pipe Holdings stock appears to be overvalued. The current stock price of HK$0.22 is trading 27.1% above its estimated GF Value™ of HK$0.17. GuruFocus considers Chu Kong Petroleum and Natural Gas Steel Pipe Holdings to be Modestly Overvalued.

Key valuation signals for HKSE:01938:

  • Scaled Net Operating Assets: 0.51
  • GF Value™: HK$0.17 vs. price of HK$0.22 (27.1% above fair value)
  • GF Score™: 46/100 with 6 warning signs

No single metric tells the full story. See the HKSE:01938 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Business Description

Address 2nd Floor, 3-5 Golden Dragon City, Yayun Avenue, Panyu District, Guangdong Province, Guangzhou, CHN, 511450
Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Ltd operates in the steel pipe business. The group is involved in its key revenue-generating business which is to manufacture and sell welded steel pipes and the provision of related manufacturing services. The group's steel pipes are mainly used for energy transmission including oil and gas transmission pipelines, deep-sea pipelines, city gas networks, petrochemicals, mining, infrastructure construction, offshore engineering, steel structures, and water utilities industries. Further, it is also involved in the development of properties for sale; and property investment activities. The group has a business presence in Mainland China and other countries, of which maximum revenue is derived from Africa.
46GF Score

Get the complete analysis for HKSE:01938

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.22
Price
HK$0.17
GF Value