Triumph New Energy Company (1108) AI Stock Analysis

• Market Cap: HK$5.79B
• Dividend Yield: N/A
• Average Volume (3M): 2.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: -35.74%
• EPS Growth: -1755.61%
• Country: US
• Employees: 2,769
• Sector: Energy
• Sector Strength: 52
• Industry: Construction
• EPS (TTM): -0.25
• Shares Outstanding: 250,000,000
• 10 Day Avg. Volume: 2,055,884
• 30 Day Avg. Volume: 2,083,928
• PEG Ratio: 0.02
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 0.51
• P/FCF Ratio: -2.27
• 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
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: HK$4.50 ▲(18.42% Upside)

The score is weighed down primarily by weak financial performance—deep losses, rising leverage, and negative operating/free cash flow. Technicals provide some support as the stock is trading above key moving averages, but the elevated RSI suggests momentum may be stretched. Valuation remains challenged because the company is loss-making (negative P/E) with no dividend yield data to offset risk.

Positive Factors

Revenue Growth Momentum

An 11.6% TTM revenue increase shows the company can grow top line despite recent losses. Sustained revenue expansion over multiple quarters supports scale economics, gives management room to cut unit costs, and underpins recovery efforts if margins and cash conversion improve.

Sizeable Equity Cushion

A 3.74B equity base provides a material capital buffer versus current liabilities and debt, reducing near-term insolvency risk. This structural balance-sheet strength can support refinancing, operational continuity, and strategic investment while management works to restore profitability.

Prior Profitability Track Record

Historic profitability through 2021–2023 suggests the underlying business model can generate positive margins. This track record indicates problems may be operational or cyclical rather than structural, implying potential to regain profitability with corrective measures and execution over several quarters.

Negative Factors

Deep Negative Margins

Large negative gross and operating margins erode the firm's ability to self-fund growth or absorb shocks. Persistently negative margins signal structural cost or pricing problems that, unless addressed, will limit sustainable profitability and deter long-term creditor and investor confidence.

Cash Burn and Negative Free Cash Flow

Sustained negative operating and free cash flow indicate the business is consuming rather than generating cash, reducing runway and forcing reliance on external funding. Over months to years this increases refinancing, dilution, and liquidity risk, constraining capital allocation and recovery efforts.

Rising Leverage

Debt jumping to 7.17B and near 2.0x debt/equity raises fixed obligations and refinancing exposure. Elevated leverage combined with losses and cash burn increases default and covenant risk, reducing strategic flexibility and making turnaround execution costlier and more dependent on external capital.

Triumph New Energy Company Business Overview & Revenue Model

Company Description

Luoyang Glass Company Limited, together with its subsidiaries, engages in the manufacture and sale of float glass in China and internationally. The company operates through two segments, Information Display Glass and New Energy Glass. The Information Display Glass segment offers ultra-thin electronic glass substrates. The New Energy Glass segment produces photovoltaic original glass and its further processed products, such as glass for ultra-white high transparent cover plate and back plate glass for solar photovoltaic module. Luoyang Glass Company Limited was incorporated in 1994 and is headquartered in Luoyang, the People's Republic of China.

How the Company Makes Money

Triumph New Energy Company makes money primarily through the sale of electricity generated from its renewable energy power plants. The company enters into power purchase agreements (PPAs) with governments, utilities, and corporate clients, which provide a steady revenue stream over the long term. Additionally, the company may receive government incentives and subsidies aimed at promoting renewable energy adoption. Triumph New Energy may also engage in strategic partnerships or joint ventures to expand its reach and enhance its technological capabilities, further contributing to its revenue growth.

Triumph New Energy Company Financial Statement Overview

Summary

Financials are weak: profitability has deteriorated sharply with deeply negative margins (TTM gross -17.7%, EBIT -28.4%, net -26.8%) despite 11.6% TTM revenue growth. Leverage has increased materially (debt up to 7.17B; ~1.92x debt/equity) alongside negative ROE (-25.7%). Cash flow is a major pressure point with negative operating cash flow (-745M) and deeply negative free cash flow (-1.09B).

Income Statement

Performance has deteriorated meaningfully versus prior years. TTM (Trailing-Twelve-Months) revenue grew 11.6%, but profitability is deeply negative: gross margin (-17.7%), EBIT margin (-28.4%), and net margin (-26.8%). The company swung from solid profitability in 2021–2023 (positive gross and net margins) to losses in 2024 and remained loss-making in TTM, signaling significant cost pressure and weak earnings quality despite the recent top-line rebound.

Balance Sheet

Leverage has risen and financial flexibility appears weaker. Total debt increased sharply to 7.17B in TTM (Trailing-Twelve-Months) from 4.37B in 2024, pushing debt relative to equity to ~1.92x (up from ~1.09x in 2024). Equity remains sizable (3.74B), but returns are negative (ROE -25.7% in TTM), indicating the balance sheet is being used to support an unprofitable operating profile, increasing risk if losses persist.

Cash Flow

Cash generation is weak and has turned more pressured. TTM (Trailing-Twelve-Months) operating cash flow is negative (-745M) and free cash flow is deeply negative (-1.09B), implying the business is consuming cash rather than funding itself. While free cash flow to net income is positive in TTM (losses exceed free-cash outflow), the underlying picture remains unfavorable given ongoing cash burn and negative operating cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.58B	4.59B	6.60B	5.03B	3.61B	3.05B
Gross Profit	-634.27M	-199.98M	764.00M	596.12M	868.30M	943.97M
EBITDA	-566.97M	-303.90M	934.09M	828.90M	753.69M	863.63M
Net Income	-595.98M	-609.93M	394.72M	409.04M	255.76M	372.86M
Balance Sheet
Total Assets	13.56B	12.31B	12.43B	10.57B	9.27B	5.60B
Cash, Cash Equivalents and Short-Term Investments	168.41M	140.37M	280.54M	689.02M	1.12B	300.95M
Total Debt	6.55B	4.37B	3.89B	2.87B	2.62B	1.85B
Total Liabilities	9.68B	7.93B	7.37B	5.95B	4.92B	3.81B
Stockholders Equity	3.42B	4.02B	4.63B	4.23B	3.84B	1.63B
Cash Flow
Free Cash Flow	-1.64B	-1.03B	-1.72B	-1.32B	-1.55B	116.30M
Operating Cash Flow	-744.82M	-393.89M	143.51M	-398.05M	136.31M	354.08M
Investing Cash Flow	-438.14M	-569.35M	-1.76B	-661.82M	-1.71B	-231.00M
Financing Cash Flow	1.34B	862.97M	1.36B	582.53M	2.38B	-130.73M

Triumph New Energy Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.80
• 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:1108, the sentiment is Positive. The current price of 3.8 is below the 20-day moving average (MA) of 3.87, below the 50-day MA of 3.85, and below the 200-day MA of 4.18, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 55.74 is Neutral, neither overbought nor oversold. The STOCH value of 26.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1108.

Triumph New Energy Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2128	71 Outperform	HK$17.31B	9.52	7.03%	4.22%	-11.15%	-12.35%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
6865	63 Neutral	HK$42.22B	71.44	1.54%	5.67%	-18.50%	-83.76%
1108	46 Neutral	HK$5.79B	-2.50	-24.93%	―	-35.74%	-1755.61%

Triumph New Energy Company Corporate Events

Triumph New Energy Reports Increased Losses in Q3 2025

Triumph New Energy Company Limited reported its third-quarter financial results for 2025, revealing a significant decline in performance compared to the previous year. The company experienced a net loss attributable to shareholders of RMB 147.28 million, a 23.50% increase in loss from the same period last year, and a total profit loss of RMB 146.26 million. Despite a 40.15% increase in operating revenue for the quarter, the company’s net cash flow from operating activities was negative, indicating financial challenges. The report highlights a decrease in owner’s equity by 14.84% and a decline in weighted average return on net assets, reflecting ongoing financial difficulties.