0235.Hk
The company operates in the energy sector, specifically in the fossil fuels and coal industries, and is classified as an integrated oil and gas company.
Business. The company operates in the energy sector, specifically in the fossil fuels and coal industries, and is classified as an integrated oil and gas company.
At a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
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Upcoming catalysts
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- Peers
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated · BP (BP)
- EarningsQ3 2026 earnings (expected)2026-10-30 · estimated · Chevron (CVX)
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
The company operates in the energy sector, specifically in the fossil fuels and coal industries, and is classified as an integrated oil and gas company.
The company maintains a strong liquidity position, with cash and equivalents amounting to HKD 18.66 billion, which is significantly higher than its total liabilities of HKD 21.19 billion, resulting in a current ratio of 11.02. The price-to-book ratio of 0.22 and a market price of HKD 0.024 indicate that the company is trading at a substantial discount to its book value, suggesting potential undervaluation.
Profitability metrics show a challenging financial performance, with a net loss of HKD 13.27 billion and an operating loss of HKD 5.99 billion, resulting in a negative return on equity of -0.6% and a return on assets of -0.55%. These figures are below the typical performance of the industry, indicating a need for operational improvements or strategic shifts to align with industry standards.
The company's revenue is concentrated in a single business segment, as disclosed in its financial statements, with no significant geographic diversification reported. This lack of diversification may expose the company to higher risks associated with market volatility and regulatory changes in its primary operating region.
Looking ahead, the company is projected to face continued financial challenges, with no significant revenue growth expected in the current fiscal year. The absence of positive growth indicators and the current financial losses suggest a need for strategic interventions to stabilize and improve financial performance.
The risk assessment indicates a low probability of dilution and no immediate liquidity concerns, with a debt-to-equity ratio of 0.01 and a low risk score for dilution. However, the company's financial losses and negative returns may necessitate future capital raising activities, which could introduce dilution risks.
Recent filings and transcripts do not indicate any major events or strategic shifts that would significantly impact the company's financial position or operational strategy. The company appears to be in a maintenance phase, with no disclosed initiatives aimed at reversing its current financial trajectory.
- The company is trading at a significant discount to its book value, as indicated by a price-to-book ratio of 0.22.
- The company is experiencing a net loss and negative returns on equity and assets, suggesting poor profitability.
- The company has a strong liquidity position with a current ratio of 11.02, indicating no immediate liquidity concerns.
- The company's revenue is not diversified across multiple segments or geographies, increasing its exposure to market-specific risks.
- The company is not currently facing significant dilution risks, but its financial performance may necessitate future capital raising activities.
Bull / Bear case
analysis pipelineIn focus — financials by report
Valuation
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
Options
Short squeeze
Earnings-call key lines
Estimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- No immediate filing-based liquidity or dilution flags were detected.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
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- Market data
- Market data cache
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- Earnings transcripts
- Consensus estimates
- ESG data
- Return On Equitynet_income / total_equity
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Dilution Ratio(shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Market Capmarket_price * shares_outstanding_diluted
- Ev To Revenueenterprise_value / revenue
- 0235.HK Market data — financials · 2026-05-26
Ownership & reference
Leadership
- Man Wai ChowChief Executive Officer, Executive Director