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Add New Energy Investment Holdings Group Ltd.
(2623)
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Rating:50Neutral
Price Target:
HK$4.50
▼(-8.16% Downside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance—sharp 2025 earnings deterioration and sustained negative operating/free cash flow—despite a meaningfully improved leverage position. Technicals are moderately supportive with a positive medium/long-term trend and positive MACD, but valuation is constrained by loss-making results and no dividend data.
Positive Factors
Improved leverage and balance-sheet cushion
Meaningfully reduced debt and sizable equity provide a durable balance-sheet cushion. Lower leverage reduces refinancing and interest strain, improving resilience to cyclical shocks and giving management optionality to fund operations, invest, or restructure without immediate financing pressure.
Negative Factors
Sharp revenue decline and 2025 net loss
A roughly 47% revenue decline and a swing to a large net loss in 2025 represent a material deterioration in core operations. This magnitude of downside undermines margin sustainability, reduces internal reinvestment capacity, and signals durable demand or execution issues that may take many quarters to resolve.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage and balance-sheet cushion
Meaningfully reduced debt and sizable equity provide a durable balance-sheet cushion. Lower leverage reduces refinancing and interest strain, improving resilience to cyclical shocks and giving management optionality to fund operations, invest, or restructure without immediate financing pressure.
Read all positive factors
Add New Energy Investment Holdings Group Ltd. (2623) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.34B
Dividend YieldN/A
Average Volume (3M)61.61K
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth-73.03%
EPS Growth-241.72%
CountryHK
Employees146
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.25
Shares Outstanding525,429,800
10 Day Avg. Volume117,400
30 Day Avg. Volume61,611
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)3.10
Price to Sales (P/S)18.96
P/FCF Ratio-3.89
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
Add New Energy Investment Holdings Group Ltd. Business Overview & Revenue Model
Company Description
Add New Energy Investment Holdings Group Limited operates as an investment holding company primarily focused on the exploration, extraction, and processing of iron and ilmenite ores within the People's Republic of China. Its core output comprises ...
How the Company Makes Money
null...
Add New Energy Investment Holdings Group Ltd. Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 75.58M | 282.09M | 1.26B | 1.87B | 1.63B |
| Gross Profit | 4.05M | 12.57M | 141.46M | 145.10M | 29.61M |
| EBITDA | -11.26M | -26.75M | 84.86M | 101.16M | -9.96M |
| Net Income | -87.46M | 61.72M | 50.52M | 57.63M | -30.06M |
Balance Sheet | |||||
| Total Assets | 1.15B | 1.02B | 869.30M | 746.04M | 705.97M |
| Cash, Cash Equivalents and Short-Term Investments | 242.77M | 80.00M | 146.13M | 124.67M | 191.29M |
| Total Debt | 10.64M | 268.00M | 31.87M | 70.78M | 181.46M |
| Total Liabilities | 692.33M | 470.14M | 377.42M | 392.06M | 418.76M |
| Stockholders Equity | 462.27M | 545.84M | 491.88M | 353.98M | 287.21M |
Cash Flow | |||||
| Free Cash Flow | -367.98M | -243.07M | -52.79M | 60.52M | 77.15M |
| Operating Cash Flow | -63.42M | -72.02M | 53.34M | 212.30M | 83.47M |
| Investing Cash Flow | -15.32M | -141.41M | -112.44M | -178.18M | 4.91M |
| Financing Cash Flow | 238.97M | 147.27M | 80.67M | -103.48M | -20.89M |
Add New Energy Investment Holdings Group Ltd. Technical Analysis
Negative
4.90
Price Trends
4.79
Negative
4.95
Negative
3.93
Positive
Market Momentum
-0.07
Negative
41.62
Neutral
21.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2623, the sentiment is Negative. The current price of 4.9 is above the 20-day moving average (MA) of 4.53, above the 50-day MA of 4.79, and above the 200-day MA of 3.93, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 41.62 is Neutral, neither overbought nor oversold. The STOCH value of 21.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2623.
Add New Energy Investment Holdings Group Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$412.62B | 15.41 | 29.93% | 1.45% | 8.77% | 60.69% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | HK$1.95B | -15.63 | ― | ― | ― | ― | |
53 Neutral | HK$2.00B | 8.79 | -14.35% | ― | -51.79% | ― | |
51 Neutral | HK$328.00M | 57.23 | 1.13% | ― | 7.89% | ― | |
50 Neutral | HK$2.34B | -15.39 | -17.38% | ― | -73.03% | -241.72% | |
46 Neutral | HK$49.89M | -0.13 | -177.54% | ― | -26.77% | -31.52% |
* Basic Materials Sector Average
HK:2623
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Add New Energy Investment Holdings Group Ltd. Corporate Events
Hong Kong Gold Industry Group Extends Deadline for Discounted Share Placement
Jul 14, 2026
Hong Kong Gold Industry Group Limited has amended its existing placing agreement for new shares under its general mandate, extending the deadline for completion of the share placement. The company and its joint placing agents have pushed the lates...
Hong Kong Gold Industry Group Overhauls Board as AGM Resolutions Pass Unanimously
Jun 23, 2026
Hong Kong Gold Industry Group Limited, formerly Add New Energy Investment Holdings Group Limited, reported that all resolutions at its annual general meeting were passed, including receipt of the 2025 audited financial statements and the reappoint...
Hong Kong Gold Industry Group Sets Out Board and Committee Structure
Jun 23, 2026
Hong Kong Gold Industry Group Limited, formerly Add New Energy Investment Holdings Group Limited, has announced the current composition of its board of directors, detailing a structure that includes executive, non-executive and independent non-exe...
Hong Kong Gold Industry Group to Raise HK$93 Million via Discounted Share Placing for Mining Investments
Jun 18, 2026
Hong Kong Gold Industry Group Limited has entered into a placing agreement to issue up to 23.2 million new shares under its general mandate, representing about 4.42% of its existing share capital and 4.23% of its enlarged share base. The shares wi...
Hong Kong Gold Industry Group Cuts Board Lot Size to Boost Liquidity
Jun 15, 2026
Hong Kong Gold Industry Group Limited will reduce the trading board lot size of its shares on the Hong Kong Stock Exchange from 2,000 shares to 500 shares, effective 9:00 a.m. on 8 July 2026. Based on a closing price of HK$4.72, this cuts the mini...
Hong Kong Gold Industry Group Books RMB50.9 Million Impairment on Ilmenite Mine Assets
Jun 7, 2026
Hong Kong Gold Industry Group Limited has issued a supplemental announcement to its 2025 annual report, detailing significant impairment losses related to assets at its Zhuge Shangyu ilmenite ore mine in mainland China. The group booked impairment...
Hong Kong Gold Industry Group Clarifies 10-Year Profit Targets as Non-Binding Vision
Jun 5, 2026
Hong Kong Gold Industry Group Limited, previously Add New Energy Investment Holdings Group Ltd., operates in the gold and broader resource investment sector and is listed on the Hong Kong Stock Exchange. The company is led by Chairperson and execu...
Hong Kong Gold Industry Group Sets HK$1.65 Million Audit Fee in Bid to Reappoint Crowe
Jun 1, 2026
Hong Kong Gold Industry Group Limited has issued supplemental information ahead of its upcoming annual general meeting, clarifying the proposed re-appointment of Crowe (HK) CPA Limited as its independent auditor for the financial year ending 31 De...
Add New Energy Rebrands as Hong Kong Gold Industry Group with New Stock Short Names
May 29, 2026
Hong Kong Gold Industry Group Limited has formally changed its English name from Add New Energy Investment Holdings Group Limited and its Chinese name to 香港黃金產業集團有限公Ö...
Hong Kong Gold Industry Group Sets 2026 AGM to Approve Results and Revamp Board
May 28, 2026
Hong Kong Gold Industry Group Limited has convened its annual general meeting for 23 June 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements and directors’ and auditor’s reports for the fina...
Add New Energy clarifies vendor ownership change in HRZ share acquisition
May 14, 2026
Add New Energy Investment Holdings Group has issued a supplemental announcement regarding its previously disclosed acquisition of 37.7 million shares in HRZ through a sale and purchase agreement with several vendors. The company reported that one ...
Add New Energy Wins Shareholder Backing to Rebrand as Hong Kong Gold Industry Group
Apr 29, 2026
Add New Energy Investment Holdings Group Limited has secured shareholder approval at an extraordinary general meeting to change its English name to Hong Kong Gold Industry Group Limited and its Chinese name to 香港黃金ī...
Add New Energy Details Terms of 20-Year Mining Investment Partnership
Apr 24, 2026
Add New Energy Investment Holdings Group Limited has provided supplemental details on a previously announced partnership formed by its subsidiary Shenzhen Xinlong with Jiangxi Xintongying and Beijing Shiji to invest in mining businesses. The partn...
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.