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Denox Environmental & Technology Holdings Limited
(1452)
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Rating:50Neutral
Price Target:
HK$0.16
▲(31.67% Upside)
Action:Reiterated
Date:10/09/26
The score is driven primarily by improving fundamentals in 2025 (revenue rebound and a turnaround to positive operating and free cash flow) and a low-leverage balance sheet, but is held back by persistent net losses and negative shareholder returns. Technically, the stock trends weakly with price below key moving averages and soft momentum, while valuation is constrained by negative earnings and no stated dividend yield.
Positive Factors
Revenue recovery
The sharp 2025 revenue rebound indicates recovering demand and renewed project activity in the company’s industrial emissions-control market. If maintained, stronger scale can improve operating leverage, support reinvestment in engineering capabilities, and strengthen customer and market positioning over the next several quarters.
Negative Factors
Persistent unprofitability
The revenue recovery has not yet produced sustainable operating or bottom-line profitability. Continued negative EBIT and net income can erode shareholder value, constrain internally funded growth, and indicate that project economics or operating costs still need to improve before stronger sales translate into durable earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue recovery
The sharp 2025 revenue rebound indicates recovering demand and renewed project activity in the company’s industrial emissions-control market. If maintained, stronger scale can improve operating leverage, support reinvestment in engineering capabilities, and strengthen customer and market positioning over the next several quarters.
Read all positive factors
Denox Environmental & Technology Holdings Limited (1452) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$144.89M
Dividend YieldN/A
Average Volume (3M)95.50K
Price to Earnings (P/E)―
Beta (1Y)-0.03
Revenue Growth88.24%
EPS Growth54.89%
CountryHK
Employees189
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)-0.03
Shares Outstanding770,697,700
10 Day Avg. Volume38,500
30 Day Avg. Volume95,500
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)0.55
Price to Sales (P/S)0.32
P/FCF Ratio2.59
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
Denox Environmental & Technology Holdings Limited Business Overview & Revenue Model
Company Description
Denox Environmental & Technology Holdings Limited functions as an investment holding entity, specializing in the design, development, production, and sale of DeNOx catalysts. These include both plate-type and honeycomb variants, which are distribu...
Denox Environmental & Technology Holdings Limited Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
63
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 230.09M | 189.26M | 108.96M | 126.39M | 62.79M | 71.46M |
| Gross Profit | 74.15M | 46.59M | 27.46M | 24.53M | 13.39M | 12.22M |
| EBITDA | -5.36M | -11.04M | -28.63M | -17.29M | -17.08M | -21.40M |
| Net Income | -15.25M | -17.27M | -37.33M | -25.43M | -23.53M | -12.30M |
Balance Sheet | ||||||
| Total Assets | 596.01M | 508.51M | 436.92M | 371.13M | 314.40M | 325.79M |
| Cash, Cash Equivalents and Short-Term Investments | 88.37M | 76.60M | 59.80M | 72.49M | 72.75M | 74.34M |
| Total Debt | 6.97M | 14.80M | 19.67M | 6.27M | 2.94M | 5.93M |
| Total Liabilities | 491.65M | 397.08M | 305.77M | 207.16M | 125.72M | 118.27M |
| Stockholders Equity | 104.35M | 111.43M | 131.16M | 163.97M | 188.68M | 207.52M |
Cash Flow | ||||||
| Free Cash Flow | 43.14M | 23.67M | -19.78M | -4.15M | -8.20M | -32.05M |
| Operating Cash Flow | 50.24M | 29.23M | -11.28M | -3.81M | -5.76M | -27.59M |
| Investing Cash Flow | -51.31M | -8.61M | -23.20M | 26.14M | -45.41M | 13.61M |
| Financing Cash Flow | -10.72M | -5.06M | 8.59M | -2.30M | -856.00K | 1.97M |
Denox Environmental & Technology Holdings Limited Technical Analysis
Negative
0.12
Price Trends
0.18
Negative
0.18
Negative
0.15
Positive
Market Momentum
>-0.01
Positive
38.04
Neutral
38.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1452, the sentiment is Negative. The current price of 0.12 is below the 20-day moving average (MA) of 0.19, below the 50-day MA of 0.18, and below the 200-day MA of 0.15, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 38.04 is Neutral, neither overbought nor oversold. The STOCH value of 38.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1452.
Denox Environmental & Technology Holdings Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$314.55M | 1.41 | 17.48% | 6.25% | 81.37% | 132.75% | |
74 Outperform | HK$633.64M | 2.79 | 6.03% | 8.53% | -2.82% | -15.06% | |
69 Neutral | HK$149.49M | 11.72 | 5.74% | 8.00% | -8.44% | 31.82% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
52 Neutral | HK$176.07M | -15.00 | -1.20% | 3.14% | 4.66% | 36.36% | |
52 Neutral | HK$326.57M | -896.91 | -0.03% | 45.59% | -5.26% | -102.94% | |
50 Neutral | HK$144.89M | -5.25 | -14.14% | ― | 88.24% | 54.89% |
* Industrials Sector Average
HK:1452
Denox Environmental & Technology Holdings Limited
0.16
0.05
42.34%
HK:1395
ELL Environmental Holdings Limited
0.17
0.02
11.84%
HK:1527
Zhejiang Tengy Environmental Technology Co., Ltd. Class H
2.33
0.05
2.19%
HK:2377
China Boqi Environmental (Holding) Co., Ltd.
0.75
-0.26
-25.89%
HK:0436
New Universe Environmental Group Limited
0.05
-0.03
-34.62%
HK:0556
Pan Asia Environmental Protection Group Ltd.
0.32
0.03
9.38%
Denox Environmental & Technology Holdings Limited Corporate Events
Denox Narrows Interim Loss as Revenue Surges on Stronger Environmental Tech Sales
Aug 31, 2026
Denox Environmental Technology Holdings reported a sharp increase in revenue to RMB110.4 million for the six months ended 30 June 2026, up from RMB69.7 million a year earlier, driven by stronger sales despite higher costs. However, increased sell...
Denox Environmental & Technology Raises HK$23.33 Million via Connected Share Subscription
Aug 27, 2026
Denox Environmental Technology Holdings has completed a connected share subscription, issuing 177,853,320 new shares at HK$0.1368 each under a specific mandate, raising net proceeds of about HK$23.33 million. The subscription shares account for 3...
Denox Environmental Wins Shareholder Backing for Share Subscription and Whitewash Waiver
Aug 21, 2026
Denox Environmental Technology Holdings Limited, a Hong Kong-listed environmental technology company, continues to utilize capital market instruments to support its business positioning in emissions control and related industrial services. The bo...
Denox Environmental Sets August Board Meeting to Review Interim Results and Dividend
Aug 19, 2026
Denox Environmental Technology Holdings Limited has scheduled a board meeting for 31 August 2026 to review and approve the group’s unaudited interim results and interim report for the six months ended 30 June 2026, with plans to publish the...
Denox outlines control shift from proposed share subscription and whitewash waiver
Aug 17, 2026
Denox Environmental Technology Holdings has issued a supplemental announcement to its late-July circular detailing the impact of a proposed share subscription and related whitewash waiver. Upon completion, the combined stake of the subscriber, Ad...
Denox Sends Circular on Conditional Share Subscription and Whitewash Waiver
Jul 31, 2026
Denox Environmental Technology Holdings Limited has despatched a circular to shareholders outlining a proposed connected transaction involving a subscription of new shares under a specific mandate and an associated application for a whitewash wai...
Denox Calls EGM on Share Issue to Chairlady and Whitewash Waiver
Jul 30, 2026
Denox Environmental Technology Holdings Limited has called an extraordinary general meeting for 21 August 2026 in Beijing to seek shareholder approval for a share subscription agreement with Chairlady Zhao Shu. The board is asking shareholders to...
Denox Environmental & Technology Plans Share Subscription and Seeks Whitewash Waiver
Jul 10, 2026
Denox Environmental Technology Holdings Limited has entered into a share subscription agreement with an existing substantial shareholder, who will subscribe for 177,853,320 new shares at HK$0.1368 each, raising approximately HK$24.33 million in c...
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.