Innovax Holdings Limited (HK:2680)
:2680
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Innovax Holdings Limited
(2680)
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Rating:57Neutral
Price Target:
HK$12.50
▲(25.38% Upside)
Action:ReiteratedDate:01/20/26
The score is driven primarily by mixed financial performance (low leverage and revenue growth, but ongoing losses and weak operating cash flow). Technicals are supportive with strong uptrend and positive momentum, while valuation is a key headwind due to the very high P/E and no stated dividend yield.
Positive Factors
Low leverage / strong equity base
Extremely low debt combined with a >50% equity ratio provides durable financial flexibility and lower solvency risk. This capital structure supports capacity to fund organic growth, withstand cyclical stress, and pursue strategic investments without reliance on costly leverage over the medium term.
Negative Factors
Persistent operating losses
Repeated negative EBIT and net income indicate structural profitability challenges that are not resolved by top-line growth alone. Persistent operating losses erode equity, limit retained capital for reinvestment, and increase reliance on external financing or dilutive measures, constraining long-term value creation.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong equity base
Extremely low debt combined with a >50% equity ratio provides durable financial flexibility and lower solvency risk. This capital structure supports capacity to fund organic growth, withstand cyclical stress, and pursue strategic investments without reliance on costly leverage over the medium term.
Read all positive factors
Innovax Holdings Limited (2680) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$726.00M
Dividend YieldN/A
Average Volume (3M)351.74K
Price to Earnings (P/E)3.8
Beta (1Y)-0.19
Revenue Growth-22.46%
EPS GrowthN/A
CountryHK
Employees36
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)N/A
Shares Outstanding60,000,000
10 Day Avg. Volume984,490
30 Day Avg. Volume351,740
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.35
Price to Sales (P/S)0.42
P/FCF Ratio-2.24
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
Innovax Holdings Limited Business Overview & Revenue Model
Company Description
Innovax Holdings Limited, an investment holding company, provides financial and securities services in Hong Kong. It offers corporate finance advisory services, such as IPO sponsorship, financial and independent financial advisory, and compliance ...
How the Company Makes Money
null...
Innovax Holdings Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
50
Neutral
| Breakdown | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 | Feb 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 158.02M | 32.68M | 45.24M | 34.86M | 83.95M |
| Gross Profit | 139.53M | 8.71M | 45.24M | 34.86M | 83.95M |
| EBITDA | -33.90M | 3.37M | -3.49M | -4.34M | 4.06M |
| Net Income | -35.29M | 1.77M | -6.58M | -22.52M | 2.38M |
Balance Sheet | |||||
| Total Assets | 353.03M | 283.60M | 307.62M | 303.34M | 408.03M |
| Cash, Cash Equivalents and Short-Term Investments | 141.35M | 181.54M | 129.98M | 101.14M | 125.80M |
| Total Debt | 1.26M | 330.00K | 1.83M | 721.00K | 3.02M |
| Total Liabilities | 166.15M | 73.11M | 98.90M | 94.78M | 176.96M |
| Stockholders Equity | 186.87M | 210.49M | 208.71M | 208.55M | 231.07M |
Cash Flow | |||||
| Free Cash Flow | -29.32M | 22.73M | 29.72M | -6.90M | -27.36M |
| Operating Cash Flow | -29.32M | 22.73M | 30.05M | -6.89M | -27.35M |
| Investing Cash Flow | 4.07M | 3.44M | 426.00K | -12.00K | 169.00K |
| Financing Cash Flow | 10.43M | -1.54M | -1.91M | -2.36M | -2.09M |
Innovax Holdings Limited Technical Analysis
Negative
9.97
Price Trends
12.20
Negative
11.90
Positive
8.65
Positive
Market Momentum
0.09
Negative
49.06
Neutral
46.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2680, the sentiment is Negative. The current price of 9.97 is below the 20-day moving average (MA) of 12.13, below the 50-day MA of 12.20, and above the 200-day MA of 8.65, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 49.06 is Neutral, neither overbought nor oversold. The STOCH value of 46.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2680.
Innovax Holdings Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | HK$268.80M | 6.54 | 74.96% | ― | 55.42% | 159.42% | |
57 Neutral | HK$726.00M | 3.77 | 3.00% | ― | -22.46% | ― | |
53 Neutral | HK$94.60M | 3.19 | -10.11% | ― | -3.21% | -184.91% | |
46 Neutral | HK$245.77M | -2.34 | -14.47% | ― | 51.58% | 69.53% | |
42 Neutral | HK$85.62M | -0.54 | -31.09% | ― | ― | 48.53% |
* Financial Sector Average
HK:2680
Innovax Holdings Limited
12.10
10.92
925.42%
HK:0510
CASH Financial Services Group
0.57
0.33
133.61%
HK:8098
CL Group (Holdings) Limited
0.04
>-0.01
-8.51%
HK:0821
Value Convergence Holdings Limited
0.26
0.02
8.33%
HK:8350
Excalibur Global Financial Holdings Limited
0.28
0.15
115.38%
Innovax Holdings Limited Corporate Events
Innovax Holdings Sees Change of Control and Launch of Mandatory Cash Offer
Mar 31, 2026
Innovax Holdings Limited, a Cayman-incorporated company listed in Hong Kong, has undergone a major ownership and structural shift involving the transfer of control to a new majority shareholder. Following the completion of a disposal transaction, ...
Innovax Clears Conditions for Mandatory Cash Offer as Control Change Nears
Mar 25, 2026
Innovax Holdings and its potential new controlling shareholder, Mr. Wang Tingfa, have jointly updated investors on the status of a planned change of control involving a possible unconditional mandatory cash offer for all Innovax shares not already...
Innovax Updates Market on Pending Mandatory Offer and Unmet Regulatory Conditions
Feb 27, 2026
Innovax Holdings Limited and its potential acquirer, Mr. Wang Tingfa, have issued a monthly update on a proposed unconditional mandatory cash offer for all Innovax shares not already owned by Wang and his concert parties. The transaction is tied t...
Innovax Updates Investors on Pending Mandatory Cash Offer and Regulatory Approvals
Jan 28, 2026
Innovax Holdings Limited and controlling shareholder-to-be Wang Tingfa have issued a further monthly update on the proposed unconditional mandatory cash offer for all Innovax shares not already owned by Wang and his concert parties, which is tied ...
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.