IRC (HK:1029)
:1029
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IRC
(1029)
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Rating:46Neutral
Price Target:
HK$0.52
▲(3.80% Upside)
Action:Reiterated
Date:05/06/26
The score is driven primarily by weak financial performance, with sharply deteriorating profitability and a large net loss despite manageable leverage and improved operating cash flow. Technical indicators are mostly neutral, providing limited support, while valuation is pressured by loss-making earnings (negative P/E) and no provided dividend yield.
Positive Factors
Revenue Recovery
A revenue rebound of +11.6% in 2025 signals recovering demand or improved sales execution. Sustained top-line growth over several quarters supports scale, helps absorb fixed costs, and provides a base to rebuild margins and operating leverage over the medium term.
Negative Factors
Severe Profitability Collapse
A collapse in gross margin to ~3.9% and net margin to -50.9% reflects deep pricing, cost, or mix issues that threaten core profitability. Such structural margin deterioration undermines long-term viability unless the company restores pricing power or materially cuts cost base.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
A revenue rebound of +11.6% in 2025 signals recovering demand or improved sales execution. Sustained top-line growth over several quarters supports scale, helps absorb fixed costs, and provides a base to rebuild margins and operating leverage over the medium term.
Read all positive factors
IRC (1029) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$958.46M
Dividend YieldN/A
Average Volume (3M)453.60K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth16.57%
EPS Growth-350.20%
CountryHK
Employees1,670
SectorGeneral
Sector StrengthN/A
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.10
Shares Outstanding1,916,922,900
10 Day Avg. Volume644,013
30 Day Avg. Volume453,600
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)4.20
Price to Sales (P/S)3.02
P/FCF Ratio-203.81
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
IRC Business Overview & Revenue Model
Company Description
IRC Limited, an investment holding company, develops, produces, and sells industrial commodities products in the Russia, People's Republic of China, and internationally. The company operates through four segments: Mines in Production, Mines in Dev...
IRC Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
54
Neutral
Cash Flow
41
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 258.43M | 221.16M | 252.99M | 278.76M | 371.28M |
| Gross Profit | 10.11M | 180.10M | 196.55M | 255.08M | 344.26M |
| EBITDA | 17.48M | 9.18M | -118.30M | 46.89M | 163.91M |
| Net Income | -131.66M | -20.49M | -156.81M | -87.84M | 134.07M |
Balance Sheet | |||||
| Total Assets | 276.33M | 445.83M | 451.04M | 593.95M | 709.15M |
| Cash, Cash Equivalents and Short-Term Investments | 41.57M | 60.73M | 56.56M | 37.03M | 52.13M |
| Total Debt | 41.81M | 44.93M | 67.38M | 78.25M | 116.29M |
| Total Liabilities | 91.25M | 130.45M | 162.06M | 145.68M | 192.77M |
| Stockholders Equity | 185.76M | 316.14M | 289.62M | 448.61M | 516.83M |
Cash Flow | |||||
| Free Cash Flow | -3.83M | -19.26M | 15.57M | 17.29M | 151.89M |
| Operating Cash Flow | 29.79M | -1.91M | 55.26M | 31.74M | 165.10M |
| Investing Cash Flow | -29.30M | -15.88M | -15.06M | -14.12M | -13.75M |
| Financing Cash Flow | -20.80M | 16.14M | -19.25M | -30.54M | -119.90M |
IRC Technical Analysis
Negative
0.50
Price Trends
0.54
Negative
0.53
Negative
0.57
Negative
Market Momentum
>-0.01
Positive
34.60
Neutral
21.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1029, the sentiment is Negative. The current price of 0.5 is below the 20-day moving average (MA) of 0.52, below the 50-day MA of 0.54, and below the 200-day MA of 0.57, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 34.60 is Neutral, neither overbought nor oversold. The STOCH value of 21.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1029.
IRC Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$430.26B | 9.80 | 29.93% | 1.45% | 8.77% | 60.69% | |
66 Neutral | HK$128.58B | 9.10 | 5.16% | 2.80% | 0.98% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | HK$1.95B | -15.63 | ― | ― | ― | ― | |
54 Neutral | HK$464.00M | 106.96 | 1.07% | ― | 7.89% | ― | |
46 Neutral | HK$958.46M | -5.92 | -44.33% | ― | 16.57% | -350.20% | |
38 Underperform | HK$44.24M | -0.15 | -177.54% | ― | -26.77% | -31.52% |
* General Sector Average
HK:1029
IRC
0.49
-0.15
-23.44%
HK:3993
CMOC Group
17.35
11.17
180.74%
HK:0769
China Rare Earth Holdings
0.70
0.30
77.22%
HK:9696
Tianqi Lithium Corp. Class H
52.10
27.65
113.09%
HK:2237
China Graphite Group Ltd.
0.30
0.01
5.36%
HK:6128
Graphex Group Limited
0.05
-0.17
-77.57%
IRC Corporate Events
IRC boosts iron ore output but books heavy impairment-driven loss for 2025
Mar 25, 2026
IRC Limited reported strong operational progress in 2025, with iron ore production up 23% to 2.93 million tonnes and sales volume up 25%, driven by higher-quality ore from the Sutara deposit, improved recovery at the KS processing plant, and the l...
IRC flags steep 2025 loss on major K&S mine impairment
Mar 19, 2026
IRC Limited has warned shareholders that it expects a sharply wider loss attributable to owners of about US$125 million to US$135 million for 2025, compared with a US$20.5 million loss a year earlier. The deterioration is driven mainly by an appro...
IRC Sets March Dates to Approve and Publish 2025 Annual Results
Mar 10, 2026
IRC Limited has scheduled a board meeting on 19 March 2026 to review the annual results for the year ended 31 December 2025 and to empower its Executive Committee to finalise and approve those results. The company has also set 25 March 2026 as the...
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.