Integrated Waste Solutions Group Holdings Limited (HK:0923)
:0923
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Integrated Waste Solutions Group Holdings Limited
(0923)
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Rating:47Neutral
Price Target:
HK$0.02
▼(-10.00% Downside)
Action:Reiterated
Date:03/24/26
The score is held back primarily by weak financial performance—persistent losses, renewed cash burn, and a sharp decline in equity/assets in 2025—despite manageable leverage. Technicals are neutral-to-mildly supportive with price stabilizing around key averages, but valuation remains constrained by negative earnings and no dividend data.
Positive Factors
Gross margin strength
Sustained solid gross margins in 2024–2025 indicate the company can extract healthy unit economics from core recycling and waste processing activities. This margin base provides a durable cushion to absorb SG&A or non-operating costs and supports a credible path to operating leverage if overheads are controlled.
Negative Factors
Structural unprofitability
Persistent operating and net losses, with deterioration in 2025 despite higher revenue, show core operations and/or non-operating items fail to generate sustainable profits. Continued losses will erode equity, limit reinvestment, and require external funding unless material cost or revenue improvements occur.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin strength
Sustained solid gross margins in 2024–2025 indicate the company can extract healthy unit economics from core recycling and waste processing activities. This margin base provides a durable cushion to absorb SG&A or non-operating costs and supports a credible path to operating leverage if overheads are controlled.
Read all positive factors
Integrated Waste Solutions Group Holdings Limited (0923) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$86.81M
Dividend YieldN/A
Average Volume (3M)7.51M
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue Growth-2.08%
EPS Growth-647.01%
CountryHK
Employees106
SectorIndustrials
Sector Strength72
IndustryWaste Management
Share Statistics
EPS (TTM)-0.10
Shares Outstanding4,823,009,000
10 Day Avg. Volume2,348,600
30 Day Avg. Volume7,511,600
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.33
Price to Sales (P/S)1.60
P/FCF Ratio-3.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Integrated Waste Solutions Group Holdings Limited Business Overview & Revenue Model
Company Description
Integrated Waste Solutions Group Holdings Limited, an investment holding company, provides solid waste management services in Hong Kong. The company operates through four segments: Confidential Materials Destruction Service, Logistics Services, Re...
How the Company Makes Money
The company generates revenue primarily by providing waste handling and recycling services. This includes collecting and processing recyclable waste materials, such as metals and paper, which are then sold to manufacturers and other clients for re...
Integrated Waste Solutions Group Holdings Limited Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.33M | 45.09M | 42.70M | 42.34M | 42.12M | 51.33M |
| Gross Profit | 7.10M | 22.93M | 25.35M | -532.00K | -487.00K | 1.72M |
| EBITDA | -422.31M | -461.50M | -38.09M | -12.44M | -7.64M | -2.56M |
| Net Income | -482.94M | -490.14M | -64.73M | -39.80M | -27.58M | -23.89M |
Balance Sheet | ||||||
| Total Assets | 267.33M | 281.57M | 771.58M | 790.69M | 833.03M | 862.29M |
| Cash, Cash Equivalents and Short-Term Investments | 32.46M | 43.10M | 50.68M | 74.40M | 76.46M | 78.33M |
| Total Debt | 50.00M | 50.39M | 50.39M | 392.00K | 0.00 | 72.00K |
| Total Liabilities | 59.08M | 61.78M | 60.80M | 13.57M | 13.72M | 15.10M |
| Stockholders Equity | 209.25M | 220.55M | 710.93M | 776.98M | 818.34M | 845.46M |
Cash Flow | ||||||
| Free Cash Flow | -23.70M | -23.39M | -24.45M | 4.58M | -15.19M | -3.28M |
| Operating Cash Flow | -23.47M | -23.18M | -19.24M | 4.81M | -13.28M | -2.76M |
| Investing Cash Flow | 6.45M | 19.07M | -53.49M | -6.87M | 11.48M | -16.64M |
| Financing Cash Flow | -1.65M | -3.48M | 49.01M | 381.00K | -76.00K | -1.22M |
Integrated Waste Solutions Group Holdings Limited Technical Analysis
Neutral
0.02
Price Trends
0.02
Negative
0.02
Negative
0.02
Positive
Market Momentum
<0.01
Positive
52.39
Neutral
150.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0923, the sentiment is Neutral. The current price of 0.02 is below the 20-day moving average (MA) of 0.02, below the 50-day MA of 0.02, and above the 200-day MA of 0.02, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.39 is Neutral, neither overbought nor oversold. The STOCH value of 150.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0923.
Integrated Waste Solutions Group Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$9.92B | 5.27 | 8.67% | 4.37% | 0.90% | 11.31% | |
71 Outperform | HK$13.19B | 8.20 | 7.72% | 6.19% | 7.14% | 3.17% | |
70 Outperform | HK$448.20M | 4.91 | 20.61% | 3.17% | -6.86% | 80.59% | |
67 Neutral | HK$510.00M | 1.93 | 4.69% | ― | -0.24% | -24.32% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
50 Neutral | HK$1.33B | 2.61 | 3.96% | ― | 1.03% | 16.29% | |
47 Neutral | HK$86.81M | -1.85 | -224.73% | ― | -2.08% | -647.01% |
* Industrials Sector Average
HK:0923
Integrated Waste Solutions Group Holdings Limited
0.02
<0.01
20.00%
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0.46
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Integrated Waste Solutions Group Holdings Limited Corporate Events
Integrated Waste Solutions Signs Major Tenancy Deal for New Premises
Mar 23, 2026
Integrated Waste Solutions Group Holdings Limited has confirmed that its subsidiary CMDSL has signed a tenancy agreement on 23 March 2026 to lease new premises, following written approval from key shareholders. The new lease is classified as a maj...
Integrated Waste Solutions Secures Majority Written Approval for Major Lease Transaction
Mar 19, 2026
Integrated Waste Solutions Group Holdings has confirmed that securing a new lease for premises through a Tenancy Agreement with CMDSL will constitute a major transaction under Hong Kong listing rules, triggering reporting, announcement, circular a...
Integrated Waste Solutions Lines Up Major Sheung Shui Lease for Hong Kong Operations
Mar 9, 2026
Integrated Waste Solutions Group Holdings has chosen a new site in Sheung Shui as a more suitable location for its operations than an earlier alternative in Tseung Kwan O, and its subsidiary CMDSL plans to enter into a tenancy agreement for this p...
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.