Want to see HK:2680 full AI Analyst Report?
Top Page
Innovax Holdings Limited
(2680)
Select Model
Select Model
Rating:55Neutral
Price Target:
HK$6.00
▼(-39.82% Downside)
Action:Reiterated
Date:07/01/26
The score is supported by a strong, low-debt balance sheet and a return to profitability with solid cash generation in the latest year. However, the stock is weighed down by a clear downward technical trend (price below all major moving averages), sharp revenue contraction and multi-year earnings/cash-flow volatility, and a relatively high P/E with no dividend yield provided.
Positive Factors
Strong Balance Sheet
Very low debt-to-equity (debt consistently well below 1%) and sizable, stable equity provide a durable financial cushion. This conservative capital structure reduces default and refinancing risks, supports investment optionality and resilience through cyclical downturns over the medium term.
Negative Factors
Severe Revenue Contraction
A ~65% revenue decline materially weakens scale and long-term growth runway. Even with high margins this large top-line drop can compress absolute profits, limit reinvestment capacity, and suggests market share, client or demand issues that must be resolved for sustainable recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Very low debt-to-equity (debt consistently well below 1%) and sizable, stable equity provide a durable financial cushion. This conservative capital structure reduces default and refinancing risks, supports investment optionality and resilience through cyclical downturns over the medium term.
Read all positive factors
Innovax Holdings Limited (2680) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$344.40M
Dividend YieldN/A
Average Volume (3M)351.74K
Price to Earnings (P/E)30.2
Beta (1Y)0.19
Revenue Growth-65.25%
EPS GrowthN/A
CountryHK
Employees36
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-0.65
Shares Outstanding60,000,000
10 Day Avg. Volume984,490
30 Day Avg. Volume351,740
Financial Highlights & Ratios
PEG Ratio-0.47
Price to Book (P/B)3.69
Price to Sales (P/S)12.90
P/FCF Ratio81.80
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 functions as an investment holding enterprise, delivering a comprehensive suite of financial and securities services throughout Hong Kong. The company's core offerings include corporate finance advisory, which encompasses ...
Innovax Holdings Limited Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
82
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Feb 2026 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 163.33M | 56.76M | 158.02M | 32.68M | 45.24M | 34.86M |
| Gross Profit | 161.41M | 54.35M | 139.53M | 8.71M | 45.24M | 34.86M |
| EBITDA | -33.90M | 10.63M | -33.90M | 3.37M | -3.49M | -4.34M |
| Net Income | -35.29M | 11.71M | -35.29M | 1.77M | -6.58M | -22.52M |
Balance Sheet | ||||||
| Total Assets | 353.03M | 302.77M | 353.03M | 283.60M | 307.62M | 303.34M |
| Cash, Cash Equivalents and Short-Term Investments | 141.35M | 196.32M | 141.35M | 181.54M | 129.98M | 101.14M |
| Total Debt | 1.26M | 672.00K | 1.26M | 330.00K | 1.83M | 721.00K |
| Total Liabilities | 166.15M | 104.19M | 166.15M | 73.11M | 98.90M | 94.78M |
| Stockholders Equity | 186.87M | 198.58M | 186.87M | 210.49M | 208.71M | 208.55M |
Cash Flow | ||||||
| Free Cash Flow | -29.32M | 8.95M | -29.32M | 22.73M | 29.72M | -6.90M |
| Operating Cash Flow | -26.31M | 8.96M | -29.32M | 22.73M | 30.05M | -6.89M |
| Investing Cash Flow | 1.78M | 2.84M | 4.07M | 3.44M | 426.00K | -12.00K |
| Financing Cash Flow | 10.43M | -325.00K | 10.43M | -1.54M | -1.91M | -2.36M |
Innovax Holdings Limited Technical Analysis
Negative
9.97
Price Trends
8.63
Negative
10.32
Negative
10.14
Negative
Market Momentum
-0.87
Positive
26.14
Positive
13.34
Positive
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 above the 20-day moving average (MA) of 7.03, above the 50-day MA of 8.63, and below the 200-day MA of 10.14, indicating a bearish trend. The MACD of -0.87 indicates Positive momentum. The RSI at 26.14 is Positive, neither overbought nor oversold. The STOCH value of 13.34 is Positive, 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$345.22M | 7.32 | 6.75% | 2.51% | 48.77% | 37.25% | |
64 Neutral | HK$417.93M | 3.21 | 4.26% | ― | -22.54% | 60.00% | |
62 Neutral | HK$345.00M | 45.39 | 2.10% | ― | -7.05% | 255.17% | |
62 Neutral | HK$326.40M | 5.70 | 74.96% | ― | 293.32% | 579.01% | |
55 Neutral | HK$344.40M | 30.21 | 3.00% | ― | -65.25% | ― | |
49 Neutral | HK$263.02M | -6.67 | -14.47% | ― | 13.08% | -11.55% |
* Financial Sector Average
HK:2680
Innovax Holdings Limited
5.74
3.27
132.39%
HK:0510
CASH Financial Services Group
0.61
0.30
93.65%
HK:0717
Emperor Capital Group Limited
0.06
-0.02
-25.30%
HK:1073
Da Yu Financial Holdings Limited
0.10
>-0.01
-4.72%
HK:2263
Fu Shek Financial Holdings Limited
0.35
0.16
91.67%
HK:8350
Excalibur Global Financial Holdings Limited
0.34
0.20
136.11%
Innovax Holdings Limited Corporate Events
Innovax Moves to Modernize Governance with New Memorandum and Articles
Jun 25, 2026
Innovax Holdings Limited plans to update its corporate constitution by amending its existing memorandum and articles of association and adopting a new, fourth amended and restated version. The changes aim to modernize shareholder governance by ena...
Innovax Sets 2026 AGM to Approve Results, Board and Share Issuance Mandate
Jun 25, 2026
Innovax Holdings Limited has called its annual general meeting for 7 August 2026 in Hong Kong, where shareholders will review and adopt the audited consolidated financial statements and board and auditor reports for the year ended 28 February 2026...
Innovax Shareholders Approve Rebranding to Austrax Holdings
Jun 22, 2026
Innovax Holdings Limited has secured shareholder approval at an extraordinary general meeting held on 22 June 2026 to change its English name to Austrax Holdings Limited and its Chinese name to 南強控股有限Ð...
Innovax Relocates Principal Place of Business in Hong Kong
Jun 18, 2026
Innovax Holdings Limited, a Cayman Islands-incorporated company listed in Hong Kong under stock code 2680, announced a change to its principal place of business in the city. The board is chaired by chief executive officer Wang Tingfa, supported by...
Innovax Holdings Sets Out Board and Committee Structure
May 31, 2026
Innovax Holdings Limited has announced the current composition of its board of directors, identifying two executive directors, including chairman Wang Tingfa, and three independent non-executive directors. The disclosure also outlines the allocati...
Innovax Swings to Profit Despite Revenue Slump on Placing Slowdown
May 29, 2026
Innovax Holdings Limited reported a sharp drop in total revenue to HK$22.7 million for the year ended 28 February 2026 from HK$165.9 million a year earlier, mainly due to a steep fall in placing and underwriting income, but saw growth in corporate...
Innovax Overhauls Board and Leadership After Change in Control
May 29, 2026
Innovax Holdings Limited has announced sweeping changes to its leadership and board structure following a change in control of the company, with the chairman, chief executive officer and three independent non-executive directors all set to resign ...
Innovax Calls EGM to Approve Corporate Name Change to Austrax Holdings
May 29, 2026
Innovax Holdings Limited has called an extraordinary general meeting in Hong Kong on 22 June 2026 to seek shareholder approval for a special resolution to change its English name to Austrax Holdings Limited and its dual foreign name in Chinese to ...
Innovax Signals Return to Profit on Improved Financial Asset Gains
May 19, 2026
Innovax Holdings Limited has issued a positive profit alert, indicating that it expects to swing from a loss of about HK$35.3 million in the prior financial year to a profit of between HK$9 million and HK$13 million for the year ended 28 February ...
Innovax Restores Minimum Public Float After Share Disposal
May 14, 2026
Innovax Holdings Limited has confirmed that its public float has been restored to the 25% minimum required under Hong Kong listing rules after a recent mandatory offer changed its shareholding structure. Following the close of the offer, the compa...
Innovax sets late May board meeting to approve annual results and consider dividend
May 8, 2026
Innovax Holdings Limited has scheduled a board meeting for 29 May 2026 to review and approve the annual results of the company and its subsidiaries for the financial year ended 28 February 2026. The board will also consider whether to declare, rec...
Innovax Offer Closes With Wang Tingfa Lifting Stake to Over 75%
Apr 29, 2026
Innovax Holdings Limited announced the close of an unconditional mandatory cash offer made on behalf of major shareholder Mr. Wang Tingfa to acquire all issued shares not already owned by him and his concert parties. The offer, which was not revis...
Innovax Launches Mandatory Cash Offer as Composite Document Sent to Shareholders
Apr 8, 2026
Innovax Holdings Limited and its controlling shareholder, Mr. Wang Tingfa, have jointly announced the despatch of a composite offer and response document to shareholders, formally launching an unconditional mandatory cash offer for all issued shar...
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.