IRICO Group New Energy Co. Ltd. Class H (0438) AI Stock Analysis

• Market Cap: HK$379.09M
• Dividend Yield: N/A
• Average Volume (3M): 22.98K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.41
• Revenue Growth: 2.57%
• EPS Growth: -58.71%
• Country: HK
• Employees: 2,548
• Sector: Energy
• Sector Strength: 68
• Industry: Solar
• EPS (TTM): -2.31
• Shares Outstanding: 96,248,670
• 10 Day Avg. Volume: 27,110
• 30 Day Avg. Volume: 22,983
• PEG Ratio: -0.28
• Price to Book (P/B): 0.76
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.22
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 32 Underperform
• Price Target: ―

IRICO Group New Energy Co. Ltd. has significant financial challenges, with negative income, high leverage, and liquidity concerns. Technical analysis suggests bearish momentum, and valuation metrics indicate unprofitability, contributing to a low overall stock score.

IRICO Group New Energy Co. Ltd. Class H Business Overview & Revenue Model

Company Description

IRICO Group New Energy Company Limited, together with its subsidiaries, engages in the research and development, production, and sale of new energy photovoltaic glass in the People's Republic of China and internationally. The company also offers solar cells and components. In addition, it is involved in photovoltaic power generation. The company was formerly known as IRICO Group Electronics Company Limited and changed its name to IRICO Group New Energy Company Limited in January 2016. The company was founded in 2004 and is headquartered in Xianyang, the People's Republic of China.

How the Company Makes Money

IRICO Group New Energy Co. Ltd. generates revenue primarily through the production and sale of solar photovoltaic products, including solar modules and cells. The company capitalizes on the growing demand for renewable energy by supplying solar products to a diverse range of clients, including utility companies, commercial enterprises, and residential customers. Additionally, IRICO Group is involved in the LCD segment, manufacturing display products that contribute to its overall revenue. The company's financial performance is also influenced by strategic partnerships and investments in research and development to enhance product efficiency and expand its market presence.

IRICO Group New Energy Co. Ltd. Class H Financial Statement Overview

Summary

The company's financial performance is weak, with negative net income and gross profit, high leverage, and critical cash flow issues. These factors indicate poor financial health and stability.

Income Statement

The income statement reveals a concerning trend with negative net income and gross profit in the latest year. The company experienced declining gross and EBIT margins, indicating deteriorating profitability. Revenue growth was present over the years but was insufficient to offset increasing costs, resulting in negative net profit margins.

Balance Sheet

The balance sheet shows high leverage with a significant debt-to-equity ratio, indicating financial risk. However, the company maintains a solid equity ratio, suggesting some stability in asset financing. Despite the high debt levels, the stockholders' equity remains positive, yet declining over the years.

Cash Flow

The cash flow analysis highlights a critical issue with zero operating, investing, and free cash flows in the latest year, pointing to liquidity challenges. The absence of free cash flow growth and a lack of operating cash flow to net income ratio showcases weak cash management and potential sustainability concerns.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
3.28B	3.15B	2.47B	2.07B	2.52B
	Gross Profit
-95.22M	217.70M	362.85M	448.32M	577.30M
	EBIT
-402.97M	―	189.46M	280.10M	371.57M
	EBITDA
-7.65M	85.47M	318.59M	288.13M	325.83M
	Net Income Common Stockholders
-375.95M	―	89.23M	164.43M	219.66M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
372.37M	950.93M	592.74M	702.40M	718.24M
	Total Assets
8.78B	8.84B	6.38B	5.13B	4.98B
	Total Debt
5.36B	5.32B	3.32B	2.28B	1.91B
	Net Debt
4.93B	4.37B	2.73B	1.58B	1.19B
	Total Liabilities
7.30B	7.04B	4.46B	3.21B	3.24B
	Stockholders Equity
1.48B	1.80B	1.92B	1.92B	1.75B
Cash Flow		Free Cash Flow
0.00	―	-456.07M	―	138.49M
	Operating Cash Flow
0.00	276.96M	89.23M	―	185.60M
	Investing Cash Flow
0.00	-925.71M	―	197.94M	229.13M
	Financing Cash Flow
0.00	1.19B	594.99M	358.25M	―

IRICO Group New Energy Co. Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.22
• 50DMA: Positive
• 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 HK:0438, the sentiment is Negative. The current price of 2.22 is above the 20-day moving average (MA) of 2.09, above the 50-day MA of 2.11, and below the 200-day MA of 2.73, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 51.97 is Neutral, neither overbought nor oversold. The STOCH value of 62.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0438.

IRICO Group New Energy Co. Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	58 Neutral	$7.55B	3.49	-4.45%	10.15%	0.79%	-49.51%
0438	32 Underperform	HK$379.09M	―	-22.96%	―	2.57%	-58.71%
FGSGF		$4.25B	51.69	1.56%	3.63%	―	―
GCPEF		$3.12B	―	-11.91%	―	―	―
XNYIF		$2.86B	18.86	3.28%	18.94%	―	―
1183		HK$457.78M	―	-0.83%	―	―	―
1799	41 Neutral	HK$6.85B	―	-11.29%	―	-32.63%	-185.82%

IRICO Group New Energy Co. Ltd. Class H Corporate Events

IRICO Group Announces Leadership Transition

IRICO Group New Energy Co. Ltd. announced a change in its executive leadership, with Mr. Ma Zhibin retiring as executive director and general manager due to reaching the statutory retirement age. Mr. Gao Feng’an, who has been with the company since 1996 and holds various leadership roles, has been nominated to succeed Mr. Ma, pending shareholder approval at the upcoming extraordinary general meeting. This leadership transition is expected to maintain the company’s strategic direction and operational continuity.

IRICO Group New Energy Co. Ltd. Announces Board Composition and Committee Roles

IRICO Group New Energy Co. Ltd. has announced the composition of its board of directors and their respective roles within the company. The board has established four committees, each with specific responsibilities, to enhance corporate governance and strategic oversight, potentially impacting the company’s operational efficiency and stakeholder confidence.

IRICO Group New Energy Announces 2024 AGM and Key Resolutions

IRICO Group New Energy Co. Ltd. has announced its 2024 Annual General Meeting (AGM) scheduled for May 9, 2025, in Xianyang, Shaanxi Province, China. The AGM will address several key resolutions including the approval of the 2024 financial reports, profit distribution, and financial budget for 2025. Additionally, the meeting will consider the re-appointment of auditors, determination of remuneration for directors and supervisors, and a special resolution granting the board a mandate to issue additional shares. These decisions are crucial for the company’s strategic planning and governance, potentially impacting its financial health and market operations.

IRICO Group New Energy Announces CFO Transition

IRICO Group New Energy Co. Ltd. has announced a change in its executive team with the resignation of Mr. Huang Weihong as Chief Financial Officer, effective March 27, 2025, due to changes in work arrangements. Mr. Huang’s departure is amicable, with no disagreements reported with the board. Mr. Li Yunpu has been appointed as the new CFO, bringing extensive experience within the company since 1990, which is expected to ensure continuity and stability in the company’s financial management.

IRICO Group New Energy Schedules Board Meeting for Financial Approvals

IRICO Group New Energy Co. Ltd. has announced a board meeting scheduled for March 26, 2025, to approve the annual results for the year ending December 31, 2024, and to consider the distribution of final dividends. This meeting could impact the company’s financial strategy and stakeholder returns, as it will address key financial outcomes and potential dividend distributions.