6885.Hk
The company operates in the oil and gas refining and marketing industry, generating revenue primarily through the processing and distribution of petroleum products.
Business. The company operates in the oil and gas refining and marketing industry, generating revenue primarily through the processing and distribution of petroleum products.
At a glance
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- 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 oil and gas refining and marketing industry, generating revenue primarily through the processing and distribution of petroleum products.
The company's capital structure is characterized by a high debt-to-equity ratio of 1.04, indicating a significant reliance on debt financing. Its liquidity position is assessed as medium, with a current ratio of 0.3, suggesting limited short-term liquidity to cover immediate obligations. The company's price-to-book ratio of 0.22 and price-to-tangible-book ratio of 0.22 reflect a market valuation that is well below the book value of its tangible assets, indicating potential undervaluation or financial distress.
Profitability metrics show a negative return on equity of -20.35% and a negative return on assets of -5.81%, both significantly below industry norms. The company reported a net loss of 527.39 million CNY, with an operating loss of 526.26 million CNY, highlighting a challenging operating environment. Gross profit of 439.50 million CNY is minimal compared to its revenue of 8.12 billion CNY, indicating low margins and operational inefficiencies.
The company's revenue is not segmented by geographic regions or product lines in the available data, making it difficult to assess geographic or segment concentration risks. However, the lack of detailed segment reporting suggests a potential overreliance on a single market or product line, which could increase exposure to regional or sector-specific risks.
The company's growth trajectory is uncertain, with no specific revenue growth projections provided in the outlook. Historical data shows a significant decline in profitability, with a net loss in the most recent period. The absence of positive revenue growth indicators and the presence of a negative operating cash flow of 359.37 million CNY suggest a lack of momentum in the business.
Risk factors include a high debt load and a negative net cash position, which could limit the company's ability to invest in growth opportunities or withstand economic downturns. The risk assessment indicates a low dilution potential, but the company's financial distress may necessitate future equity issuances to refinance debt or fund operations. The company's recent financial performance and liquidity constraints suggest a need for careful monitoring of its capital structure and operational efficiency.
Recent events, such as the reported net loss and negative operating income, indicate a challenging operating environment. The company's financial statements do not provide specific details on recent filings or transcripts, but the negative financial performance suggests a need for strategic adjustments to improve profitability and liquidity.
- The company is operating at a significant loss, with a net income of -527.39 million CNY and an operating income of -526.26 million CNY.
- The company's debt-to-equity ratio of 1.04 and a current ratio of 0.3 indicate a high level of financial leverage and limited short-term liquidity.
- The company's return on equity of -20.35% and return on assets of -5.81% are significantly negative, reflecting poor profitability.
- The company's market valuation, as indicated by a price-to-book ratio of 0.22, is well below the book value of its tangible assets.
- The company's free cash flow is negative at -1.03 billion CNY, indicating a lack of cash generation to support operations or debt servicing.
Bull / Bear case
analysis pipelineIn focus — financials by report
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Estimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
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- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Return On Equitynet_income / total_equity
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
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- Market Capmarket_price * shares_outstanding_diluted
- 6885.HK Market data — financials · 2026-05-27
Ownership & reference
Leadership
- Chiu Fai YiuExecutive Chairman of the Board
- Mingzhong WangChief Executive Officer, Executive Director