Feishang Anthracite Resources Ltd. (HK:1738)
:1738
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Feishang Anthracite Resources
(1738)
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Rating:39Underperform
Price Target:
HK$0.08
▼(-21.00% Downside)
Action:Downgraded
Date:05/17/26
The score is weighed down primarily by severe financial stress (persistent deep losses, negative 2025 gross profitability, and structurally negative equity indicating elevated solvency risk). Technicals add further downside pressure with a clear downtrend and bearish momentum indicators. Valuation provides limited support because negative earnings make P/E less meaningful and no dividend yield data is available.
Positive Factors
Positive operating cash flow & FCF
Consistent positive operating cash flow and a 2025 free cash flow turnaround indicate the business can generate cash from operations despite accounting losses. Over 2–6 months this sustains working capital, supports near-term obligations and reduces immediate refinancing pressure, aiding operational continuity.
Negative Factors
Negative shareholder equity
Persistently negative equity is a core solvency concern that limits financing options and increases recapitalization risk. Over months this constrains strategic flexibility, raises probability of covenant breaches or restructuring, and weakens confidence of creditors and large counterparties.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive operating cash flow & FCF
Consistent positive operating cash flow and a 2025 free cash flow turnaround indicate the business can generate cash from operations despite accounting losses. Over 2–6 months this sustains working capital, supports near-term obligations and reduces immediate refinancing pressure, aiding operational continuity.
Read all positive factors
Feishang Anthracite Resources (1738) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$117.35M
Dividend YieldN/A
Average Volume (3M)262.25K
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue Growth16.00%
EPS Growth-16.41%
CountryHK
Employees2,107
SectorEnergy
Sector Strength52
IndustryCoal
Share Statistics
EPS (TTM)-0.45
Shares Outstanding1,380,545,800
10 Day Avg. Volume373,000
30 Day Avg. Volume262,250
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)-0.05
Price to Sales (P/S)0.35
P/FCF Ratio6.79
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
Feishang Anthracite Resources Business Overview & Revenue Model
Company Description
Feishang Anthracite Resources Limited, an investment holding company, engages in the extraction, sale, and trade of anthracite coal in the People's Republic of China. It engages in the acquisition, construction, development, and operation of anthr...
How the Company Makes Money
Feishang Anthracite Resources makes money primarily by selling anthracite coal products. Its revenue model is centered on: (1) Coal sales: The core revenue stream comes from selling anthracite produced from its mining operations to downstream cust...
Feishang Anthracite Resources Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 356.77M | 308.31M | 990.79M | 1.60B | 1.12B |
| Gross Profit | -54.08M | 14.71M | 232.45M | 660.52M | 398.79M |
| EBITDA | -222.37M | -19.36M | -111.96M | 609.68M | 371.77M |
| Net Income | -626.03M | -539.03M | -493.42M | 53.11M | -113.84M |
Balance Sheet | |||||
| Total Assets | 2.62B | 2.86B | 3.11B | 3.32B | 3.37B |
| Cash, Cash Equivalents and Short-Term Investments | 6.33M | 4.14M | 36.01M | 31.74M | 30.38M |
| Total Debt | 1.72B | 2.09B | 1.87B | 1.84B | 2.07B |
| Total Liabilities | 4.98B | 4.49B | 4.16B | 3.87B | 4.01B |
| Stockholders Equity | -2.45B | -1.82B | -1.28B | -796.92M | -849.21M |
Cash Flow | |||||
| Free Cash Flow | 18.63M | -51.37M | 158.27M | 388.04M | 110.31M |
| Operating Cash Flow | 107.92M | 117.39M | 418.74M | 637.16M | 276.82M |
| Investing Cash Flow | -89.29M | -168.77M | -253.18M | -250.75M | -154.03M |
| Financing Cash Flow | -17.85M | 45.40M | -179.83M | -384.85M | -127.63M |
Feishang Anthracite Resources Technical Analysis
Negative
0.10
Price Trends
0.10
Negative
0.11
Negative
0.13
Negative
Market Momentum
>-0.01
Negative
39.16
Neutral
6.38
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1738, the sentiment is Negative. The current price of 0.1 is above the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.10, and below the 200-day MA of 0.13, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 39.16 is Neutral, neither overbought nor oversold. The STOCH value of 6.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1738.
Feishang Anthracite Resources Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
47 Neutral | HK$114.98M | -0.30 | -1.47% | ― | ― | ― | |
45 Neutral | HK$34.73M | 0.07 | 12.36% | ― | ― | ― | |
43 Neutral | HK$65.07M | -1.51 | -41.36% | ― | -10.71% | 4.63% | |
43 Neutral | HK$85.47M | -3.23 | ― | ― | -12.80% | -627.56% | |
40 Underperform | HK$99.71M | -0.04 | 37.69% | ― | -38.71% | -193.94% | |
39 Underperform | HK$117.35M | -0.20 | ― | ― | 16.00% | -16.41% |
* Energy Sector Average
HK:1738
Feishang Anthracite Resources
0.09
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Feishang Anthracite Resources Corporate Events
Feishang Anthracite Resources to Replace Ernst & Young as Auditor After Fee Dispute
May 15, 2026
Feishang Anthracite Resources will see its long‑time auditor Ernst Young retire at the annual general meeting scheduled for 26 June 2026 after the parties failed to agree on the audit fee for the 2026 financial year. The coal producer stres...
Feishang Anthracite’s 2025 Loss Widens Despite Higher Revenue
Mar 31, 2026
Feishang Anthracite Resources reported a 15.7% rise in revenue from continuing operations to CNY356.8 million in 2025, but cost pressures and asset impairments drove its operations into a gross loss of CNY72.3 million, reversing a small gross prof...
Feishang Anthracite Sets March 31 Board Meeting on 2025 Results and Dividend
Mar 19, 2026
Feishang Anthracite Resources Limited has scheduled a board meeting for 31 March 2026 to review and approve the group’s annual results for the financial year ended 31 December 2025. The board will also consider the potential declaration of a...
Feishang Anthracite Resources Reshapes Board With Executive Exits and New HKEX Representative
Mar 10, 2026
Feishang Anthracite Resources announced the resignation of executive directors He Jianhu, Tam Cheuk Ho and Wong Wah On Edward, effective 10 March 2026, citing other business and personal commitments. The three departing directors reported no disag...
Feishang Anthracite Resources Sets Out Board and Committee Roles
Mar 10, 2026
Feishang Anthracite Resources Limited has announced the current composition of its board of directors and the allocation of roles across its key governance committees. The board includes executive chairman Li Zongyang and three independent non-exe...
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.