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Feishang Anthracite Resources (1738) AI Stock Analysis

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HK:1738

Feishang Anthracite Resources

(HKEX:1738)

Select Model
Rating:39Underperform
Price Target:HKD 0.05â–¼(-5.26% Downside)
Action:downgraded
Date:10/09/26

The overall score is driven primarily by a severely stressed financial profile, with deep losses, collapsing margins, negative equity, and high leverage creating significant risk. Technical indicators show the price trading below key moving averages with neutral momentum, offering no strong positive signal. Valuation adds limited support because the negative P/E and lack of dividend reflect a business that is not currently generating sustainable earnings.

Positive Factors
Revenue reboundThe 2025 revenue rebound indicates that the company retained demand for its anthracite products despite its weak earnings outcome. Sustained sales growth could improve operating leverage and provide a larger base from which cost control and mine performance can support recovery.
Negative Factors
Negative equity and high debtPersistently negative equity and substantial debt create a structurally weak capital base, limiting financial flexibility and increasing solvency and recapitalization risk. Even though debt declined from 2024 to 2025, the company remains exposed to funding pressure and has little balance-sheet capacity to absorb setbacks.

Feishang Anthracite Resources (1738) vs. iShares MSCI Hong Kong ETF (EWH)

-80%-60%-40%-20%0%20%HK:1738-64.60%EWH+8.68%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
HKD 14.43M
Dividend Yield
―
Average Volume (3M)
545.00K
Price to Earnings (P/E)
-0.1
Beta (1Y)
1.30
Revenue Growth
16.00%
EPS Growth
-16.41%
Country
Hong Kong
Employees
1,675
Sector
Energy
Sector Strength
65
Industry
Coal

Feishang Anthracite Resources Business Overview & Revenue Model

Company Description

Feishang Anthracite Resources Limited, an investment holding enterprise, is primarily engaged in the mining, sale, and commercialization of anthracite coal across the People's Republic of China. Its core operations involve the acquisition, developmen...

How the Company Makes Money

Feishang Anthracite Resources primarily makes money by selling anthracite coal and processed anthracite products to customers, generating revenue based on sales volume and realized selling prices. Key revenue streams typically include (i) sales of ra...

Feishang Anthracite Resources Financial Statement Overview

Summary

Financials are extremely weak: the company has moved from modest profit to deep, recurring losses, revenue has collapsed, margins are negative, equity is heavily negative, and debt is high, with only volatile and modestly positive cash generation providing limited support.

Income Statement

18Very Negative

Balance Sheet

10Very Negative

Cash Flow

32Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue356.77M356.77M308.31M990.79M1.60B1.12B
Gross Profit-54.08M-54.08M14.71M232.45M660.52M398.79M
EBITDA-160.07M-161.77M-132.06M-111.96M609.68M371.77M
Net Income-626.03M-626.03M-539.03M-493.42M53.11M-113.84M
Balance Sheet
Total Assets2.62B2.62B2.86B3.11B3.32B3.37B
Cash, Cash Equivalents and Short-Term Investments6.33M6.33M4.14M36.01M31.74M30.38M
Total Debt1.72B1.72B2.09B1.87B1.84B2.07B
Total Liabilities4.98B4.98B4.49B4.16B3.87B4.01B
Stockholders Equity-2.45B-2.45B-1.82B-1.28B-796.92M-849.21M
Cash Flow
Free Cash Flow19.43M18.63M-51.37M158.27M388.04M110.31M
Operating Cash Flow112.80M107.92M117.39M418.74M637.16M276.82M
Investing Cash Flow-93.37M-89.29M-168.77M-253.18M-250.75M-154.03M
Financing Cash Flow-18.75M-17.85M45.40M-179.83M-384.85M-127.63M

Feishang Anthracite Resources Technical Analysis

Technical Analysis SentimentNegative
Last Price0.06

Price Trends

50DMA0.06Positive
100DMA0.06Positive
200DMA0.08Negative

Market Momentum

MACD-0.00Negative
RSI45.16Neutral
STOCH150.00Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1738, the sentiment is Negative. The current price of 0.06 is above the 20-day moving average (MA) of 0.06, above the 50-day MA of 0.06, and below the 200-day MA of 0.08, indicating a neutral trend. The MACD of -0.00 indicates Negative momentum. The RSI at 45.16 is Neutral, neither overbought nor oversold. The STOCH value of 150.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1738.

Feishang Anthracite Resources Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

HK:1738 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *65Neutral$15.17B7.614.09%5.20%3.87%-62.32%
HK:1088HK:108865NeutralHKD 1.20T17.6813.04%5.41%33.71%12.81%
HK:1171HK:117162NeutralHKD 168.17B13.6314.09%5.38%32.89%6.82%
HK:1898HK:189858NeutralHKD 182.59B9.4911.02%4.64%-11.15%7.69%
HK:0975HK:097555NeutralHKD 7.34B7.669.27%―26.12%46.57%
HK:0639HK:063949NeutralHKD 14.10B16.684.97%5.81%32.98%-24.54%
HK:1738HK:173839UnderperformHKD 78.69M-0.1127.77%―16.00%-16.41%

* Energy Sector Average

Performance Comparison

-50%0%HK:1738HK:1898HK:1088HK:0975HK:1171HK:0639Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
HK:1738 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:1738Feishang Anthracite Resources 0.06-0.11-65.87%
HK:1898China Coal Energy Co Class H9.96-1.28-11.42%
HK:1088China Shenhua Energy Co Class H42.943.508.87%
HK:0975Mongolian Mining Corporation6.83-3.51-33.95%
HK:1171Yankuang Energy Group Company Limited Class H11.120.201.80%
HK:0639Shougang Fushan Resources Group Limited2.75-0.34-11.00%

Feishang Anthracite Resources Corporate Events

Feishang Anthracite Halts Trading Pending Delayed Interim Results

Sep 1, 2026

Feishang Anthracite Resources Limited has suspended trading of its shares on the Hong Kong Stock Exchange from 9:00 a.m. on 1 September 2026, following an earlier announcement about a delay in publishing its 2026 interim results. The company said tra...

Feishang Anthracite Sets Board Meeting to Approve Interim Results and Consider Dividend

Aug 18, 2026

Feishang Anthracite Resources has scheduled a board meeting for 31 August 2026 to review and approve the announcement of its interim results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend, s...

Feishang Anthracite Moves to Shore Up Finances Amid Auditor’s Going-Concern Disclaimer

Jul 27, 2026

Feishang Anthracite Resources has outlined steps to address a disclaimer of opinion on its 2024 and 2025 financial statements, centered on going-concern uncertainties flagged by its auditors. The group is exploring capital raising, negotiating with l...

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.

Date of analysis: Oct 09, 2026