the net assets per share are lower than the face value of the stock. Under normal circumstances, the net assets per share are lower than the face value of the stock. Only when the stock is oversold will the net assets per share be higher than the face value of the stock.

1. Net asset refers to owner's equity or equity capital. The net asset value of an enterprise refers to the total assets of the enterprise minus liabilities, which consists of two parts, one part is the capital invested by the enterprise at the beginning, including the premium part, and the other part is the assets created by the enterprise during its operation, including the assets donated, which belong to the owner's equity.

second, in all kinds of techniques and methods of Fundamental Analysis of stock investment, net assets are the most commonly used reference indicators, just like P/E ratio, P/B ratio, marketing ratio and return on net assets.

third, the concept and content of net assets of administrative units: the net assets of administrative units refer to the difference between assets minus liabilities and income minus expenses of administrative units, including fixed funds and balances.

fourth, the concept and content of the net assets of public institutions: the net assets of public institutions refer to the difference between assets minus liabilities, including public funds, fixed funds, special funds and balances. The net assets of institutions specifically include business funds, fixed funds, special funds, business balances and operating balances.

5. among them, the special fund refers to the fund with special purpose set up by institutions according to regulations, mainly including employee welfare fund, medical fund, repair and purchase fund, housing fund, etc.

VI. The net assets of non-governmental non-profit organizations refer to the balance of assets minus liabilities, which indicates the difference of the total assets of non-governmental non-profit organizations after offsetting all existing obligations. It can be expressed as: assets-liabilities = net assets.

VII. The amount of owner's equity at the end of the enterprise "does not equal or represent" the market value of net assets. Because it is the market value (usually the current market value), it certainly "does not equal or represent" the amount of owner's equity at the end of the enterprise (here is the historical cost).