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YPB Group Ltd. (AU:CDE)
ASX:CDE
Australian Market

YPB Group Ltd. (CDE) AI Stock Analysis

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AU:CDE

YPB Group Ltd.

(Sydney:CDE)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
The score is primarily weighed down by weak financial performance—ongoing losses and persistent negative free cash flow with no operating cash inflows shown—despite some improvement in leverage and a 2024 revenue rebound. Technicals are neutral-to-weak with negative MACD and price below longer-term moving averages, while valuation is constrained by a negative P/E and no dividend yield.
Positive Factors
Business model & market focus
YPB’s core offering—item-level identification and authentication solutions—targets a structurally persistent problem (counterfeiting). The mix of physical security markers plus software/services supports durable revenue streams from both component sales and platform/service fees if adoption scales.
Revenue recovery trend
A 2024 sales rebound with reduced losses signals improving product traction and cost control versus 2023. If sustained, this trend can enable operating leverage to translate revenue growth into margin recovery over several quarters, improving the path toward break-even and less reliance on external funding.
Improved leverage profile
Material reduction in debt-to-equity in 2024 lowers near-term financial risk and interest burden, extending runway for operational improvements. A stronger leverage position gives management more flexibility to invest in go-to-market execution or product development without immediate refinancing pressure.
Negative Factors
Weak cash generation
Zero reported operating cash flow and persistent negative free cash flow indicate the business burns cash rather than self‑funding growth. Over months, this necessitates external capital (equity or debt) to fund operations, increasing dilution or leverage risk and constraining long-term investment capacity.
Persistent unprofitability
Deep, recurring net losses and negative operating margins reflect structural issues converting revenue into profit. Without a clear, sustained margin improvement plan, losses can continue to erode reserves and prevent reinvestment, undermining long-term viability and shareholder returns.
Erosion of equity base and returns
Declining equity and strongly negative ROE signal capital erosion from ongoing losses. Over several quarters this raises the probability of further dilution or constrained strategic options, as management may need to raise fresh capital or accept unfavorable financing to sustain operations.

YPB Group Ltd. (CDE) vs. iShares MSCI Australia ETF (EWA)

YPB Group Ltd. Business Overview & Revenue Model

Company DescriptionCodeifai Limited develops, markets, and sells anti-counterfeiting, product authentication, and consumer engagement solutions in Australia, the People's Republic of China, Thailand, and the United States of America. It offers a range of products and services, including digital engagement platform that offers brand protection, consumer engagement, and track ‘n' trace solutions for product provenance; and covert forensic products which are tracers for product or packaging during or after the manufacturing process that is detectable using the company's proprietary scanner, OEM device, or an application on a smartphone device, as well as purchases and sells brand protection labelling products. The company also provides self service SaaS solutions for QR codes. The company was formerly known as YPB Group Limited and changed its name to Codeifai Limited in August 2024. The company was incorporated in 2004 and is based in Sydney, Australia.
How the Company Makes Money

YPB Group Ltd. Financial Statement Overview

Summary
Financial profile is weak, driven by persistent operating and net losses and continued free-cash-flow burn (operating cash flow reported at zero across years; FCF consistently negative). Positives include a 2024 revenue rebound, narrowing losses versus 2023, and improved leverage in 2024 (lower debt-to-equity), but profitability and cash sustainability remain major risks.
Income Statement
18
Very Negative
Revenue has been volatile and overall down versus 2021–2024 (2024 revenue up vs 2023, but still below earlier levels). Profitability remains weak: operating results and net income are deeply negative each year, with net margins improving from 2023’s very large loss level but still significantly negative in 2024. The key positive is a rebound in sales in 2024 and some narrowing of losses versus 2023, but the business has not yet demonstrated a sustainable path to earnings.
Balance Sheet
52
Neutral
Leverage looks manageable overall with debt-to-equity improving materially in 2024 versus 2023 (debt reduced and equity higher), which lowers financial risk. However, equity has declined versus 2021 levels and returns on equity are strongly negative, reflecting ongoing losses that can continue to erode the capital base if not reversed.
Cash Flow
12
Very Negative
Cash generation is the primary concern: operating cash flow is reported at zero across all years, while free cash flow is consistently negative (cash burn), with only modest improvement in the pace of burn in 2023–2024 versus 2021–2022. With free cash flow negative and no operating cash inflows shown, funding needs likely rely on external capital or balance sheet liquidity.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue633.52K607.47K381.21K551.15K638.73K
Gross Profit-1.96M607.47K381.21K551.15K638.73K
EBITDA-4.06M-1.85M-3.13M-3.20M-3.19M
Net Income-4.44M-2.51M-4.46M-3.30M-3.51M
Balance Sheet
Total Assets5.72M6.28M6.39M7.30M6.86M
Cash, Cash Equivalents and Short-Term Investments131.36K385.90K567.57K641.41K531.00K
Total Debt1.29M747.19K2.02M1.02M0.00
Total Liabilities4.79M4.02M4.61M3.05M2.29M
Stockholders Equity922.79K2.27M1.78M4.32M5.38M
Cash Flow
Free Cash Flow-2.50M-2.11M-2.26M-2.85M-3.54M
Operating Cash Flow-2.50M0.000.000.000.00
Investing Cash Flow-569.00-3.90K-304.47K-3.61K-68.00K
Financing Cash Flow1.91M1.58M2.50M3.03M2.58M

YPB Group Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
63
Neutral
$10.79B15.437.44%2.01%2.89%-14.66%
63
Neutral
AU$15.53M3.288.25%-5.17%-19.44%
48
Neutral
AU$32.61M-6.2610.80%1.67%-2.81%-503.02%
44
Neutral
AU$3.27M-0.04-11.30%-609.09%
42
Neutral
AU$8.49M-0.72-231.15%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:CDE
YPB Group Ltd.
0.01
0.00
0.00%
AU:PPG
Pro-Pac Packaging Limited
0.02
>-0.01
-10.00%
AU:KME
Kip McGrath Education Centres Limited
0.59
0.14
32.95%
AU:RPM
RPM Automotive Group Ltd.
0.06
-0.01
-18.57%

YPB Group Ltd. Corporate Events

Codeifai Wins Shareholder Backing for QuantumAI Secure Deal as Revenue Climbs
Jan 30, 2026

Codeifai has secured shareholder approval to acquire the QuantumAI Secure platform from Credissential Inc., a quantum-resilient payments, file transfer and communications system that combines post-quantum cryptography with AI-driven threat detection, reinforcing the company’s positioning in next-generation secure infrastructure. The company reported Q4 2025 revenue of $138,000, up 22% on the prior corresponding period but down 17% on Q3, with full-year revenue up 28% year-on-year, while it continued to manage cash outflows and expand its applied AI capabilities, supported by a high-profile strategic advisory panel drawn from Nvidia, OpenAI, Google, WhatsApp and Binance to drive commercialisation of QuantumAI Secure.

The most recent analyst rating on (AU:CDE) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Confirms Compliance Following Major Share Placement
Jan 28, 2026

Codeifai Limited has issued a total of 153,421,050 new shares, comprising 144,736,839 shares to sophisticated and professional investors and 8,684,211 shares to the lead manager of the placement, under provisions that allow issuance without a disclosure document. The company has confirmed it is up to date with its financial reporting and continuous disclosure obligations and that there is no excluded information requiring disclosure, signalling regulatory compliance around the capital raising for existing and new shareholders.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Seeks ASX Quotation for 8.7 Million New Shares
Jan 28, 2026

Codeifai Limited has applied to the ASX for quotation of 8,684,211 new ordinary fully paid shares under its issuer code CDE, following previously announced transactions. The additional securities, issued on 28 January 2026, will expand the company’s quoted share capital, potentially increasing liquidity for investors and reflecting progression of earlier capital-raising or corporate initiatives.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Seeks ASX Quotation for 144.7 Million New Shares
Jan 28, 2026

Codeifai Limited has applied to the ASX for quotation of 144,736,839 new ordinary fully paid shares under ticker CDE, following earlier disclosure of the related transaction in an Appendix 3B. The move significantly expands the company’s quoted share base from 28 January 2026, potentially enhancing liquidity in its stock and marking a notable capital markets step that may underpin future funding or corporate initiatives.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

CODEIFAI Plans Dual Issue of Shares and Options to Raise Capital
Jan 23, 2026

CODEIFAI Limited (ASX: CDE) has lodged an Appendix 3B notice with the ASX outlining a proposed issue of securities via a placement or similar capital-raising mechanism. The move will see the company issue up to 8,684,211 new fully paid ordinary shares and an equivalent number of unlisted options, with a proposed issue date of 30 January 2026, signaling an effort to bolster its capital base and potentially support future corporate or operational initiatives.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

CODEIFAI Plans Major Capital Raising via New Shares and Unlisted Options
Jan 23, 2026

CODEIFAI Limited, listed on the ASX under the code CDE, has lodged a notice of a proposed securities issue, detailing plans for a substantial capital raising via new ordinary fully paid shares and unlisted options. The company intends to issue up to 144,736,842 new ordinary shares and an equal number of unlisted options in a placement or similar transaction, with a proposed issue date of 27 February 2026, signalling a significant expansion of its capital base that may affect existing shareholders’ dilution and provide additional funding capacity for future corporate initiatives once completed.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Raises $1.1m to Fund QuantumAI Secure Push and AI Expansion
Jan 23, 2026

Codeifai Limited has raised $1.1 million through a share placement to sophisticated and professional investors, issuing 144,736,842 new shares at $0.0076 each with one free attaching option per share, subject to shareholder approval, and is considering a bonus option entitlement issue to reward long-term shareholders. The new funds will support business development, working capital, and the commercialisation of the proposed acquisition of the AntennaTransfer.io quantum-secured payment and file transfer platform—set to be rebranded as QuantumAI Secure—while also backing Codeifai’s strategy to expand its applied AI capabilities into adjacent high-value areas such as geospatial and subsurface intelligence workflows, reinforcing its positioning as a specialist AI solutions provider.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Says No Undisclosed News Behind Share Price Moves as Antenna Transfer Deal Nears Completion
Jan 22, 2026

Codeifai Limited has told the ASX it is not aware of any undisclosed information that could explain recent trading volatility in its shares, following a price query from the exchange. The company instead pointed to its same-day announcement that it is in the final stages of technical due diligence on the previously flagged acquisition of Antenna Transfer and expects to satisfy remaining conditions and complete the deal in the near term. The Antenna Transfer transaction, first unveiled in July 2025 and approved by shareholders in December 2025, appears to be the key corporate development currently in focus, with Codeifai confirming it remains in full compliance with ASX continuous disclosure rules and that the response to the query was authorised by its chair under delegated board authority.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Nears Completion of QuantumAI Secure Acquisition as Platform Wins Strategic Deals
Jan 21, 2026

Codeifai Limited says it is in the final stages of technical due diligence for the acquisition of the Antenna Transfer platform from Credissential Inc., which will be rebranded QuantumAI Secure and integrated into its AI-driven secure-transfer and digital engagement ecosystem. The Antenna Transfer platform, built on post-quantum cryptography to protect against current and future cyber threats, has already gained commercial traction through an exclusive US$1.5 million minimum-spend licence with Geometric Energy Corporation for space operations and an exclusive defence-sector arrangement with NATO-approved procurement partner Effective Acceleration Ventures, while Codeifai has bolstered its strategic advisory capabilities with experts from major global tech firms and NVIDIA and plans post-acquisition feature enhancements such as SecureVault Auto-Destruct controls and Apple Wallet-enabled QR payment functionality, positioning the company to scale quantum-secure infrastructure solutions across high-security industries.

The most recent analyst rating on (AU:CDE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on YPB Group Ltd. stock, see the AU:CDE Stock Forecast page.

Codeifai Issues 56.3 Million New Shares and Confirms Regulatory Compliance
Jan 1, 2026

Codeifai Limited has issued a total of 56,258,291 new shares, comprising 53,634,270 shares issued to parties previously approved by shareholders at the 8 December 2025 extraordinary general meeting and 2,624,021 shares issued to a lender, all without requiring a prospectus under the Corporations Act. The company has confirmed its ongoing compliance with financial reporting and continuous disclosure obligations and stated that there is no excluded information affecting these securities, providing assurance to investors regarding the transparency and regulatory standing of the new share issues.

Codeifai Seeks ASX Quotation for 53.6 Million New Shares
Jan 1, 2026

Codeifai Limited has applied to the ASX for quotation of 53,634,270 new fully paid ordinary shares under its ticker CDE, following shareholder approvals obtained at an extraordinary general meeting. The placement of these additional securities, scheduled for issue on 31 December 2025, will expand the company’s quoted capital base and may provide additional funding capacity and liquidity for investors, potentially influencing trading dynamics and the company’s future capital management options.

CodeifAI Seeks ASX Quotation for 2.6 Million New Shares After Loan Conversion
Jan 1, 2026

CodeifAI Limited has applied for quotation on the ASX of 2,624,021 new fully paid ordinary shares under its code CDE, with an issue date of 31 December 2025. The new securities arise from an adjusted share price on a previous loan conversion, modestly increasing the company’s quoted share capital and potentially affecting its capital structure and dilution for existing shareholders.

CODEIFAI Issues 3.2 Million Unquoted Options in Expansion of Equity Base
Jan 1, 2026

CODEIFAI Limited has notified the ASX of the issue of a total of 3.2 million unquoted options across four new unlisted classes, each consisting of 800,000 options, with an issue date of 30 December 2025. These options, which are not quoted and not intended to be quoted on the ASX, form part of previously announced transactions and represent a further expansion of the company’s unquoted equity base, potentially influencing future capital structure and dilution outcomes for existing shareholders once the terms of the options are exercised or otherwise come into effect.

CODEIFAI Issues 58.7 Million Unlisted Options in Capital Management Move
Jan 1, 2026

CODEIFAI Limited has notified the market of the issue of 58,675,000 new unlisted options, a class of unquoted equity securities not intended to be traded on the ASX. The options, issued on 30 December 2025 under a previously announced transaction, expand the company’s pool of unquoted instruments and may influence future capital structure, potential dilution for existing shareholders, and the company’s flexibility in aligning equity incentives or funding arrangements.

CodeifAI Issues 58.8 Million Unlisted Options in Major Capital Structure Move
Jan 1, 2026

CodeifAI Limited has disclosed the issuance of a substantial tranche of new unquoted options, expanding its pool of unlisted equity securities beyond those currently traded on the ASX under code CDE. While the company has not provided detail on the underlying rationale, the 58.8 million unlisted options issued on 30 December 2025 signal a significant adjustment to its capital structure that may be tied to incentive arrangements, financing, or strategic transactions, with potential dilutionary implications and a shift in the balance between quoted and unquoted securities for existing stakeholders.

CodeifAI Issues 150,000 New Unlisted Options
Jan 1, 2026

CodeifAI Limited has notified the market of the issue of 150,000 unlisted options, to be issued on 31 December 2025. The creation of these unquoted equity securities expands the company’s options pool, which may be used for incentives or capital management purposes and could lead to future dilution for existing shareholders depending on their terms and exercise.

Codeifai Limited Successfully Passes All Resolutions at General Meeting
Dec 8, 2025

Codeifai Limited announced that all resolutions were passed at their General Meeting held on December 8, 2025. The resolutions, which include approvals for issuing shares and options to various entities and individuals, signify strategic financial maneuvers aimed at strengthening the company’s market position and operational capabilities.

YPB Group Ltd. Pioneers AI, Quantum Computing, and Cybersecurity
Dec 8, 2025

YPB Group Ltd. is spearheading advancements in artificial intelligence, quantum computing, and cybersecurity, as announced in their recent Extraordinary General Meeting. This strategic focus is expected to enhance the company’s operations and industry positioning, potentially impacting stakeholders by driving innovation and securing a competitive edge in these rapidly evolving sectors.

Codeifai Limited Appoints New CSO to Drive QuantumAI Secure Platform
Nov 5, 2025

Codeifai Limited has appointed Marcus Cann as Chief Strategy Officer to lead the development of its QuantumAI Secure platform, which focuses on quantum-secured file and fund transfers. This strategic hire marks a significant step in the company’s transition to a SaaS model, leveraging Cann’s extensive experience in banking and technology to enhance its market positioning in secure digital solutions.

Codeifai Limited Reports Strong Q3 with Strategic Advances in Quantum Security
Oct 31, 2025

Codeifai Limited reported a successful Q3 2025 with a 10% revenue increase over Q2 and a 55% rise compared to the previous corresponding period. The company completed due diligence for acquiring the QuantumAI Secure platform, which offers quantum-secure payments, file transfers, and communications, positioning Codeifai to launch advanced, quantum-resilient solutions. The strategic moves, including forming an advisory panel and launching new functionalities, aim to strengthen its market position in the fintech and cybersecurity sectors.

Codeifai Limited Announces Virtual General Meeting for December 2025
Oct 30, 2025

Codeifai Limited, listed on the ASX under the ticker CDE, has announced that it will hold a virtual General Meeting on December 8, 2025, at 11:00 am AEST. The company is providing the Notice of Meeting electronically, with physical copies available only to shareholders who have opted for them. Shareholders are encouraged to vote by proxy, with instructions available online or through traditional mail methods. The Chair plans to vote all open proxies in favor of all resolutions, where permitted.

Codeifai Limited to Hold Virtual General Meeting on December 8, 2025
Oct 30, 2025

Codeifai Limited has announced a virtual General Meeting scheduled for December 8, 2025, where shareholders will discuss and vote on key resolutions. One significant agenda item is the approval to issue shares to Credissential Inc., valued at $1,150,000, which requires shareholder approval as per Listing Rule 7.1. The outcome of this meeting could impact the company’s financial strategy and shareholder value.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 30, 2026