Hybrid Kinetic Group (1188) AI Stock Analysis

• Market Cap: HK$244.23M
• Dividend Yield: N/A
• Average Volume (3M): 0.00
• Price to Earnings (P/E): 214.3
• Beta (1Y): 0.59
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: HK
• Employees: 40
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): 0.00
• Shares Outstanding: 20,352,873,000
• 10 Day Avg. Volume: 0
• 30 Day Avg. Volume: 0
• PEG Ratio: 0.47
• Price to Book (P/B): -1.10
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 935.01
• 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: 42 Neutral
• Price Target: HK$0.01 ▲(20.00% Upside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is driven primarily by very weak financial performance (near-zero recent revenue, persistent losses, and negative equity), which outweighs neutral technical signals. Valuation is also unattractive/uncertain due to negative earnings and no dividend support.

Hybrid Kinetic Group Business Overview & Revenue Model

Company Description

Hybrid Kinetic Group Limited, an investment holding company, develops and sells electric motor vehicles, battery management systems and spare parts, and advanced batteries materials in the People's Republic of China. It also offers finance leasing services. The company was formerly known as Far East Golden Resources Group Limited and changed its name to Hybrid Kinetic Group Limited in March 2010. Hybrid Kinetic Group Limited was incorporated in 1995 and is based in Central, Hong Kong.

Hybrid Kinetic Group Financial Statement Overview

Summary

Financial statements indicate severe stress: revenue has effectively fallen to zero in 2022–2024, losses persist with negative gross profit, and the balance sheet shows negative equity with a sharply reduced asset base. A modest positive is operating/free cash flow turning slightly positive in 2024, but it is small relative to ongoing losses and debt.

Income Statement

Operating performance remains very weak. Revenue fell to effectively zero in 2022–2024 (after declining from 2020–2021 levels), and profitability is consistently negative: gross profit is negative across all years provided, with large operating losses and net losses every year (notably a very large loss in 2022). While 2024 shows a smaller loss than 2023, the business is still loss-making with no visible rebound in top-line activity, keeping the income statement profile highly impaired.

Balance Sheet

The balance sheet shows elevated financial risk driven by negative equity in 2022–2024, meaning liabilities exceed assets and reducing financial flexibility. Total debt remains high and relatively stable (roughly 101–119M), while total assets collapsed sharply by 2024 (to a very small level versus prior years), which further weakens the asset base supporting obligations. A key positive is that debt levels did not spike recently, but the combination of negative equity and shrinking assets indicates a stressed capital structure.

Cash Flow

Cash flow is mixed but shows some recent stabilization. Operating cash flow was deeply negative in 2020–2023, but turned slightly positive in 2024, and free cash flow also moved to a small positive level in 2024. However, the overall cash-generation track record is volatile and weak, and the scale of positive cash flow in 2024 is small relative to the company’s loss profile and debt load, implying limited self-funding capacity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.76M	0.00	0.00	0.00	2.57M	21.82M
Gross Profit	2.65M	-108.00K	-108.00K	-485.00K	-3.08M	-12.06M
EBITDA	-7.60M	-13.69M	-21.79M	-619.67M	-43.82M	-75.78M
Net Income	-7.59M	-13.72M	-21.91M	-620.25M	-55.24M	-72.90M
Balance Sheet
Total Assets	1.98M	345.00K	3.83M	29.41M	674.75M	710.63M
Cash, Cash Equivalents and Short-Term Investments	209.00K	202.00K	874.00K	7.54M	16.43M	35.40M
Total Debt	101.08M	101.01M	101.93M	116.59M	118.62M	110.08M
Total Liabilities	214.59M	213.02M	204.65M	208.93M	209.75M	202.84M
Stockholders Equity	-213.84M	-213.91M	-202.19M	-181.00M	463.31M	506.13M
Cash Flow
Free Cash Flow	0.00	252.00K	-4.92M	-17.30M	-23.58M	-98.32M
Operating Cash Flow	0.00	252.00K	-4.92M	-17.16M	-22.96M	-95.27M
Investing Cash Flow	0.00	0.00	-5.00K	19.77M	-2.37M	-2.83M
Financing Cash Flow	0.00	-843.00K	-1.52M	-1.84M	4.75M	85.00M

Hybrid Kinetic Group 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%
1930	58 Neutral	HK$257.40M	7.01	4.77%	1.89%	3.40%	20.78%
6830	44 Neutral	HK$410.45M	3.65	3.55%	1.22%	14.93%	19.84%
6162	42 Neutral	HK$418.00M	-8.23	-0.14%	―	23.71%	-112.50%
1188	42 Neutral	HK$244.23M	214.29	3.55%	―	―	―

Hybrid Kinetic Group Corporate Events

Hybrid Kinetic Sets Results Board Meeting as Trading Suspension Continues

Hybrid Kinetic Group has scheduled a board meeting for 27 March 2026 to review and approve its audited annual results for the year ended 31 December 2025, along with considering the publication of those results and any potential dividend recommendation. The timing of the meeting signals an effort to progress routine governance and disclosure obligations despite ongoing trading issues.

The company also confirmed that trading in its shares will remain suspended on the Hong Kong Stock Exchange, where dealings have been halted since 1 April 2025 pending fulfilment of resumption guidance. The continued suspension underscores ongoing regulatory or compliance hurdles for the group and leaves shareholders and potential investors facing prolonged uncertainty over liquidity and price discovery.

The most recent analyst rating on (HK:1188) stock is a Sell with a HK$0.01 price target. To see the full list of analyst forecasts on Hybrid Kinetic Group stock, see the HK:1188 Stock Forecast page.

Hybrid Kinetic Says It Has Met Key Conditions to Resume Share Trading in Hong Kong

Hybrid Kinetic Group has provided an update on its efforts to resume trading of its shares on the Hong Kong Stock Exchange, stating that it has published all outstanding financial results, addressed audit modifications and believes it now complies with the bourse’s minimum operations and asset requirements. The company reported approximately HK$52 million in revenue for the eleven months ended 30 November 2025 from its battery management systems, spare parts and in-vehicle audio-visual and short drama businesses, and the board expects revenue to reach HK$70 million in 2026, citing growing contract volumes and an experienced management team; it has also restored full compliance with board and governance-related listing rules through new director appointments and continues to keep investors informed via announcements as it prepares to apply for resumption of trading.

The most recent analyst rating on (HK:1188) stock is a Hold with a HK$0.01 price target. To see the full list of analyst forecasts on Hybrid Kinetic Group stock, see the HK:1188 Stock Forecast page.