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China Qinfa Group Ltd.
(0866)
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Rating:46Neutral
Price Target:
HK$2.00
▼(-24.24% Downside)
Action:Reiterated
Date:08/25/26
The score is held down primarily by weak financial performance (shrinking revenue, 2025 net loss, higher leverage, and deeply negative free cash flow). Technicals provide some support due to strong recent momentum, but overbought indicators and a sub-200DMA price temper the outlook. Valuation is a further drag given the high P/E and low dividend yield.
Positive Factors
Integrated supply-chain capabilities
The integrated operating model covers multiple stages from sourcing through delivery, giving China Qinfa capabilities in processing, storage, and logistics. This can support fulfillment reliability and help retain supply-chain economics across varying coal-market conditions over the next several quarters.
Negative Factors
Persistent revenue contraction
Multi-year revenue contraction, including a steep 2025 decline, signals weaker sales scale and pressure from demand or coal-market conditions. A smaller top line can reduce operating leverage, constrain cash generation, and make recovery dependent on renewed volumes or improved market spreads.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated supply-chain capabilities
The integrated operating model covers multiple stages from sourcing through delivery, giving China Qinfa capabilities in processing, storage, and logistics. This can support fulfillment reliability and help retain supply-chain economics across varying coal-market conditions over the next several quarters.
Read all positive factors
China Qinfa Group Ltd. (0866) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$4.97B
Dividend Yield1.06%
Average Volume (3M)3.00M
Price to Earnings (P/E)15.1
Beta (1Y)0.48
Revenue Growth-13.48%
EPS Growth-22.50%
CountryHK
Employees4,089
SectorEnergy
Sector Strength52
IndustryCoal
Share Statistics
EPS (TTM)0.11
Shares Outstanding2,627,414,000
10 Day Avg. Volume1,503,200
30 Day Avg. Volume3,003,976
Financial Highlights & Ratios
PEG Ratio0.53
Price to Book (P/B)3.20
Price to Sales (P/S)3.33
P/FCF Ratio-5.93
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)0.24
Revenue Forecast (FY)HK$2.92B
China Qinfa Group Ltd. Business Overview & Revenue Model
Company Description
China Qinfa Group Ltd. is an investment holding company, which engages in the coal operation business. It operates under the Coal Business and Shipping Transportation segments. The Coal Business segment includes coal mining, purchases and sales, f...
How the Company Makes Money
China Qinfa Group Ltd. primarily makes money by selling coal and providing coal-related supply-chain services. Its core revenue stream is coal trading: the company purchases coal from suppliers (e.g., mines and other coal producers) and resells it...
China Qinfa Group Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
35
Negative
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.93B | 1.84B | 2.60B | 3.45B | 3.79B | 4.56B |
| Gross Profit | 663.78M | 473.37M | 514.54M | 878.02M | 1.27B | 1.94B |
| EBITDA | 848.71M | 774.87M | 1.06B | 1.46B | 1.75B | 4.03B |
| Net Income | 259.42M | -93.86M | 501.94M | 200.35M | 456.54M | 2.79B |
Balance Sheet | ||||||
| Total Assets | 6.65B | 6.66B | 8.63B | 7.86B | 7.85B | 7.90B |
| Cash, Cash Equivalents and Short-Term Investments | 401.70M | 1.14B | 1.03B | 302.73M | 856.00M | 1.05B |
| Total Debt | 1.76B | 2.03B | 1.20B | 3.58B | 3.53B | 3.71B |
| Total Liabilities | 3.87B | 4.12B | 5.14B | 7.54B | 7.04B | 7.58B |
| Stockholders Equity | 2.23B | 1.91B | 1.97B | -472.87M | 13.11M | -450.10M |
Cash Flow | ||||||
| Free Cash Flow | -784.24M | -1.03B | -384.53M | 378.85M | 253.32M | 1.75B |
| Operating Cash Flow | 1.25B | 518.03M | 466.93M | 1.46B | 984.43M | 1.89B |
| Investing Cash Flow | -1.67B | -1.60B | -612.16M | -1.84B | -835.63M | -18.77M |
| Financing Cash Flow | 435.69M | 603.81M | 823.72M | -212.07M | -307.81M | -989.73M |
China Qinfa Group Ltd. Technical Analysis
Negative
2.64
Price Trends
2.00
Negative
1.83
Positive
2.58
Negative
Market Momentum
-0.04
Positive
41.14
Neutral
15.66
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0866, the sentiment is Negative. The current price of 2.64 is above the 20-day moving average (MA) of 1.98, above the 50-day MA of 2.00, and above the 200-day MA of 2.58, indicating a bearish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 41.14 is Neutral, neither overbought nor oversold. The STOCH value of 15.66 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0866.
China Qinfa Group Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | HK$1.14T | 17.35 | 12.99% | 5.35% | 16.50% | 4.45% | |
71 Outperform | HK$13.87B | 16.86 | 4.97% | 5.86% | 32.98% | -24.54% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | HK$193.56B | 10.43 | 11.32% | 4.46% | -11.15% | 7.69% | |
58 Neutral | HK$8.56B | 9.60 | 9.27% | ― | 26.12% | 46.57% | |
46 Neutral | HK$4.97B | 15.08 | 12.52% | 1.06% | -13.48% | -22.50% | |
42 Neutral | HK$119.74M | -0.19 | -141.19% | 3.14% | -17.39% | -5.91% |
* Energy Sector Average
HK:0866
China Qinfa Group Ltd.
1.89
-1.06
-35.93%
HK:1898
China Coal Energy Co
10.36
0.80
8.42%
HK:1088
China Shenhua Energy Co
43.42
7.15
19.70%
HK:0975
Mongolian Mining
8.35
-4.04
-32.59%
HK:1393
Hidili Industry International Development Limited
0.03
-0.03
-56.67%
HK:0639
Shougang Fushan Resources Group Limited
2.73
0.05
1.79%
China Qinfa Group Ltd. Corporate Events
China Qinfa Ties 57.9 Million Share Options to Aggressive Coal Production Targets
Sep 2, 2026
China Qinfa Group Limited has granted 57.9 million share options under its 2018 share option scheme to selected employees, exercisable between May 2029 and September 2036 at an exercise price of HK$2.295 per share. The options carry a nominal acce...
China Qinfa Delivers Profit Surge in First-Half 2026 but Holds Back Dividend
Aug 25, 2026
China Qinfa Group Limited reported a strong set of interim results for the six months ended 30 June 2026, with revenue from continuing operations rising 8.2 per cent year-on-year to RMB1,179 million and gross profit nearly doubling. The Group̵...
China Qinfa Group Subsidiary Strikes Connected Coal Supply Deal With Zhejiang Energy Asia Pacific
Aug 21, 2026
China Qinfa Group’s subsidiary Far Link has signed a coal supply agreement with Zhejiang Energy Asia Pacific for Indonesian steam coal deliveries through the end of 2026. The deal covers a tentative total of 1,900,000 metric tonnes of coal o...
China Qinfa Group Sets August Board Meeting to Review Interim Results
Aug 13, 2026
China Qinfa Group Limited has scheduled a board meeting in Hong Kong on 25 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider whether to recommend the payment of an interim div...
China Qinfa Group Flags Sharp Interim Profit Surge on Strong Coal Prices and Output
Aug 11, 2026
China Qinfa Group Limited has issued a positive profit alert, indicating it expects to post profit after tax of up to RMB290 million for the six months ended 30 June 2026, sharply higher than the RMB31 million recorded a year earlier. The surge is...
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.