SEHK:438

Stock Analysis Report

IRICO Group New Energy

Executive Summary

IRICO Group New Energy Company Limited, together with its subsidiaries, engages in the solar photovoltaic, new materials, trading, and other businesses in the People’s Republic of China and internationally.


Snowflake Analysis

Worrying balance sheet with weak fundamentals.

Share Price & News

How has IRICO Group New Energy's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 438's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

9.4%

438

3.9%

HK Electronic

3.7%

HK Market


1 Year Return

18.6%

438

19.9%

HK Electronic

2.4%

HK Market

Return vs Industry: 438 underperformed the Hong Kong Electronic industry which returned 19.9% over the past year.

Return vs Market: 438 exceeded the Hong Kong Market which returned 2.4% over the past year.


Shareholder returns

438IndustryMarket
7 Day9.4%3.9%3.7%
30 Day37.3%12.0%4.2%
90 Day20.7%13.2%1.7%
1 Year18.6%18.6%23.5%19.9%6.0%2.4%
3 Year14.8%14.8%25.3%15.1%25.6%12.9%
5 Year-6.7%-6.7%107.9%81.0%23.2%2.5%

Price Volatility Vs. Market

How volatile is IRICO Group New Energy's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is IRICO Group New Energy undervalued compared to its fair value and its price relative to the market?

8.25x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate 438's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate 438's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: 438 is unprofitable, so we can't compare its PE Ratio to the Electronic industry average.

PE vs Market: 438 is unprofitable, so we can't compare its PE Ratio to the Hong Kong market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 438's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 438 is overvalued based on its PB Ratio (8.3x) compared to the HK Electronic industry average (0.9x).


Next Steps

Future Growth

How is IRICO Group New Energy forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

24.7%

Forecasted Tech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as IRICO Group New Energy has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has IRICO Group New Energy performed over the past 5 years?

59.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 438 is currently unprofitable.

Growing Profit Margin: 438 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 438 is unprofitable, but has reduced losses over the past 5 years at a rate of 59% per year.

Accelerating Growth: Unable to compare 438's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 438 is unprofitable, making it difficult to compare its past year earnings growth to the Electronic industry (-8.8%).


Return on Equity

High ROE: 438 has a negative Return on Equity (-37.16%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is IRICO Group New Energy's financial position?


Financial Position Analysis

Short Term Liabilities: 438's short term assets (CN¥1.8B) do not cover its short term liabilities (CN¥4.1B).

Long Term Liabilities: 438's short term assets (CN¥1.8B) exceed its long term liabilities (CN¥532.7M).


Debt to Equity History and Analysis

Debt Level: 438's debt to equity ratio (521.9%) is considered high.

Reducing Debt: 438's debt to equity ratio has increased from 315.9% to 521.9% over the past 5 years.


Balance Sheet

Inventory Level: 438 has a high level of physical assets or inventory.

Debt Coverage by Assets: 438's debt is covered by short term assets (assets are 1.2x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Insufficient data to determine if 438 has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if 438 has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is IRICO Group New Energy's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.2%markettop25%6.2%industryaverage2.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 438's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 438's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 438's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 438's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 438's dividend in 3 years as they are not forecast to pay a notable one for the Hong Kong market.


Next Steps

Management

What is the CEO of IRICO Group New Energy's salary, the management and board of directors tenure and is there insider trading?

3.1yrs

Average management tenure


CEO

IRICO Group New Energy has no CEO, or we have no data on them.


Management Age and Tenure

3.1yrs

Average Tenure

48.5yo

Average Age

Experienced Management: 438's management team is considered experienced (3.1 years average tenure).


Board Age and Tenure

3.5yrs

Average Tenure

53yo

Average Age

Experienced Board: 438's board of directors are considered experienced (3.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Yuncong Si (54yo)

    Chairman of the Board

    • Tenure: 4.3yrs
  • Zhibin Ma (54yo)

    Deputy General Manager

    • Tenure: 0yrs
    • Compensation: CN¥373.00k
  • Xiaoning Chen (43yo)

    Executive Director & GM and legal representative

    • Tenure: 1.2yrs
    • Compensation: CN¥394.00k
  • Qiang Gu (40yo)

    Chief Financial Officer

    • Tenure: 3.7yrs
    • Compensation: CN¥389.00k
  • Wenchao Wu (53yo)

    Deputy General Manager

    • Tenure: 1.8yrs
    • Compensation: CN¥386.00k
  • Huadong Ni (44yo)

    Non-Executive Director & Secretary

    • Tenure: 0.6yrs
    • Compensation: CN¥392.00k

Board Members

  • Xiaoguang Wu (62yo)

    Independent Supervisor

    • Tenure: 0yrs
    • Compensation: CN¥80.00k
  • Haiying Sun (76yo)

    Independent Supervisor

    • Tenure: 0yrs
    • Compensation: CN¥80.00k
  • Bing Feng (52yo)

    Independent Non-Executive Director

    • Tenure: 15.3yrs
    • Compensation: CN¥100.00k
  • Jialu Wang (58yo)

    Independent Non Executive Director

    • Tenure: 15.3yrs
    • Compensation: CN¥100.00k
  • Yuncong Si (54yo)

    Chairman of the Board

    • Tenure: 4.3yrs
  • Zhicheng Wang (44yo)

    Independent Non-Executive Director

    • Tenure: 6.3yrs
    • Compensation: CN¥100.00k
  • Xiaoning Chen (43yo)

    Executive Director & GM and legal representative

    • Tenure: 1.2yrs
    • Compensation: CN¥394.00k
  • Ding Wenhui (58yo)

    Chairman of the Supervisory Committee

    • Tenure: 2.8yrs
  • Huadong Ni (44yo)

    Non-Executive Director & Secretary

    • Tenure: 0.6yrs
    • Compensation: CN¥392.00k
  • Laiying Fan (48yo)

    Non-Executive Director

    • Tenure: 1.2yrs

Company Information

IRICO Group New Energy Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IRICO Group New Energy Company Limited
  • Ticker: 438
  • Exchange: SEHK
  • Founded: 2004
  • Industry: Electronic Components
  • Sector: Tech
  • Market Cap: HK$1.563b
  • Shares outstanding: 2.23b
  • Website: https://www.irico.com.cn

Number of Employees


Location

  • IRICO Group New Energy Company Limited
  • No. 1 Caihong Road
  • Qingdu District
  • Xianyang
  • Shaanxi Province
  • 712021
  • China

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
438SEHK (The Stock Exchange of Hong Kong Ltd.)YesForeign Shares-Foreign ListedHKHKDJan 2005

Biography

IRICO Group New Energy Company Limited, together with its subsidiaries, engages in the solar photovoltaic, new materials, trading, and other businesses in the People’s Republic of China and internationally ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/15 12:48
End of Day Share Price2019/12/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.