Golden Heaven Group Holdings Ltd. (GDHG) AI Stock Analysis

• Market Cap: $41.67M
• Dividend Yield: N/A
• Average Volume (3M): 24.79K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.29
• Revenue Growth: -34.77%
• EPS Growth: -265.09%
• Country: US
• Employees: 620
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): N/A
• Shares Outstanding: 19,960,522
• 10 Day Avg. Volume: 49,791
• 30 Day Avg. Volume: 24,789
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: -1.77
• Enterprise Value/Revenue: -4.44
• Enterprise Value/Gross Profit: -12.24
• Enterprise Value/Ebitda: 7.68
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $2.00 ▼(-12.66% Downside)

The score is held down primarily by deteriorating operating performance (multi-year revenue decline and a swing to larger losses) and weak technicals (price below key moving averages with negative MACD). A low-leverage balance sheet and a strong 2025 cash-flow rebound provide partial support, but losses and inconsistent cash generation remain the key risks.

Positive Factors

Modest leverage / strong balance-sheet flexibility

A low-debt capital structure provides durable financial flexibility, lowering default risk and preserving the ability to fund capital projects or weather leisure-sector seasonality. This structural strength supports strategic investments and gives management optionality during recovery periods.

2025 operating and free cash flow rebound

A meaningful cash-flow recovery in 2025 materially improves near-term liquidity and the company's runway to execute park upgrades or reopenings. Sustained positive FCF would reduce reliance on external funding and support reinvestment into core attractions and maintenance.

Large strategic equity investment agreement

A committed partnership to source at least $100M of equity is a structural capital solution that can fund renovations and growth, strengthen the balance sheet, and signal external investor support—improving long-term financial stability if executed as planned.

Negative Factors

Multi-year revenue decline and swing to losses

Sustained revenue decline and a transition from multi-year profits to deeper losses indicate structural demand or competitive issues. Persistent top-line erosion and negative margins undermine return generation, restricting reinvestment capacity and threatening long-term viability if not reversed.

Volatile, inconsistent cash generation

Highly inconsistent operating and free cash flows complicate capital planning and weaken confidence in recurring cash generation. This structural volatility raises funding costs, limits strategic execution, and makes sustaining investments or debt service unpredictable over the medium term.

Reliance on dilutive external financing

A large mixed securities shelf and recent private-placement activity signal ongoing funding needs tied to operational losses and renovations. Reliance on equity and mixed securities raises dilution risk for shareholders and highlights structural financing pressure until profitability restores.

Golden Heaven Group Holdings Ltd. Business Overview & Revenue Model

Company Description

Golden Heaven Group Holdings Ltd., an offshore holding company, engages in the development, construction, management, and operation of urban amusement parks, water parks, amusement projects, and amusement facilities in China. It operates six amusement parks, water parks, and complementary recreational facilities. The company was incorporated in 2020 and is headquartered in Nanping, the People's Republic of China.

How the Company Makes Money

Golden Heaven Group Holdings Ltd. generates revenue through multiple streams primarily centered around its amusement park operations. Key revenue sources include ticket sales for park entry, which constitute the primary income stream, alongside additional income from in-park spending on food, beverages, merchandise, and premium experiences such as fast-track passes or special event admissions. The company may also benefit from strategic partnerships or sponsorships with brands that align with their entertainment offerings, contributing to ancillary revenue. Additionally, GDHG might explore opportunities in hosting corporate events and private parties, further diversifying its income channels.

Golden Heaven Group Holdings Ltd. Financial Statement Overview

Summary

Income statement weakness dominates: revenue has been shrinking for multiple years and profitability deteriorated from solid profits (2020–2023) to losses in 2024 and a larger loss in 2025. The balance sheet is a positive (modest leverage and growing equity/assets), and 2025 operating/free cash flow rebounded, but cash generation has been inconsistent and current returns on equity are negative.

Income Statement

Profitability has deteriorated sharply: the company moved from solid profits in 2020–2023 (healthy gross and net margins) to losses in 2024 and a much larger loss in 2025. Revenue has also been shrinking for several years (negative growth rates from 2022–2025), and 2025 margins turned deeply negative at the operating and net levels—suggesting meaningful cost pressure and/or weakening demand. A key positive is that gross margin in 2025 (~50%) remains reasonable, but it has fallen materially from earlier highs, and the current earnings trajectory is the primary concern.

Balance Sheet

Leverage looks modest, with low debt relative to equity across periods (debt-to-equity roughly 0.04–0.25), which provides balance-sheet flexibility. Equity and assets increased significantly by 2025, and total debt is not elevated versus the capital base. The main weakness is returns: return on equity was strong in 2020–2023 but turned negative in 2024–2025, indicating that despite a conservatively levered balance sheet, the company is not currently generating profits on that equity base.

Cash Flow

Cash generation is volatile. Operating and free cash flow were strongly positive in 2020 and 2022, sharply negative in 2021, 2023, and 2024, and then rebounded significantly in 2025 (operating cash flow and free cash flow both positive with strong year-over-year free cash flow growth). The 2025 cash inflow is a notable strength and helps near-term liquidity, but the multi-year inconsistency raises questions about the durability and repeatability of cash generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	16.67M	15.29M	22.33M	31.79M	41.79M	38.52M
Gross Profit	6.04M	7.67M	10.00M	19.31M	30.17M	26.83M
EBITDA	-9.63M	-3.69M	4.01M	14.16M	23.88M	21.62M
Net Income	-14.98M	-8.59M	-1.80M	6.55M	14.33M	13.58M
Balance Sheet
Total Assets	126.13M	191.45M	98.55M	82.23M	73.09M	71.76M
Cash, Cash Equivalents and Short-Term Investments	67.77M	86.00M	19.83M	245.91K	22.45M	12.88M
Total Debt	9.17M	7.17M	9.80M	6.29M	6.79M	6.30M
Total Liabilities	12.43M	10.80M	14.84M	21.18M	23.48M	31.96M
Stockholders Equity	113.70M	180.65M	83.72M	61.05M	49.61M	39.80M
Cash Flow
Free Cash Flow	13.25M	18.96M	-3.09M	-27.25M	18.54M	-5.87M
Operating Cash Flow	13.32M	18.96M	-3.01M	-19.34M	18.82M	-4.96M
Investing Cash Flow	140.29K	-49.76M	968.31K	-7.91M	-190.11K	-859.54K
Financing Cash Flow	52.98M	97.13M	20.31M	5.90M	-6.84M	272.89K

Golden Heaven Group Holdings Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.29
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GDHG, the sentiment is Negative. The current price of 2.29 is above the 20-day moving average (MA) of 2.08, below the 50-day MA of 2.93, and below the 200-day MA of 21.33, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 36.36 is Neutral, neither overbought nor oversold. The STOCH value of 60.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GDHG.

Golden Heaven Group Holdings Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
PRKS	53 Neutral	$2.04B	11.72	―	―	-3.27%	-17.93%
ISPO	49 Neutral	$53.41M	-4.88	―	―	-13.85%	77.24%
NWTG	48 Neutral	$6.70M	-0.06	-383.63%	―	178.32%	70.79%
GDHG	46 Neutral	$41.67M	>-0.01	-16.83%	―	-34.77%	-265.09%
YYAI	25 Underperform	$49.68M	-10.73	-4.97%	―	61.04%	99.61%

Golden Heaven Group Holdings Ltd. Corporate Events

Golden Heaven Group Announces Private Placement Agreement

On December 4, 2025, Golden Heaven Group Holdings Ltd. entered into a securities purchase agreement with certain investors for a private placement offering of 15,000,000 Class A ordinary shares at a subscription price of $2.50 per share, along with warrants to purchase up to 30,000,000 additional shares. The warrants have an exercise price of $4.00 per share and will expire five years after the exercise date. The proceeds from this private placement are intended for working capital and general corporate purposes, potentially impacting the company’s financial flexibility and operational capacity.

The most recent analyst rating on (GDHG) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Golden Heaven Group Holdings Ltd. stock, see the GDHG Stock Forecast page.

Golden Heaven Group’s Yueyang Amusement World Closes for Maintenance

On November 21, 2025, Yueyang Amusement World in Hunan Province, China, owned by Golden Heaven Group Holdings Ltd., was temporarily closed for electrical maintenance. The park, operated by Fuzhou Yibang Amusement Park Co., Ltd., is expected to reopen in approximately three months, impacting the company’s operations in the region.

The most recent analyst rating on (GDHG) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Golden Heaven Group Holdings Ltd. stock, see the GDHG Stock Forecast page.

Golden Heaven Group Announces Amusement Park Renovation and Investment Agreement

On November 10, 2025, Golden Heaven Group Holdings Ltd. announced the temporary closure of its Yunnan Yuxi Jinsheng Amusement Park for renovation and upgrades, with plans to reopen in six months. Additionally, the company entered into a two-year agreement with HENGRUI INVESTMENT HOLDING LTD. to attract at least $100 million in equity investment, offering 2,500,000 Class A ordinary shares as compensation for successful facilitation.

The most recent analyst rating on (GDHG) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Golden Heaven Group Holdings Ltd. stock, see the GDHG Stock Forecast page.