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Innovax Holdings Limited
(2680)
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Rating:59Neutral
Price Target:
HK$6.00
▼(-39.82% Downside)
Action:Reiterated
Date:08/17/26
The score is primarily supported by financial stability from a conservatively financed balance sheet and a return to profitability with positive free cash flow. Offsetting this, operating results show high volatility with a steep revenue decline, while technicals indicate only a partial recovery (short-term strength but still below long-term averages). Valuation is a notable headwind given the high P/E and no provided dividend yield.
Positive Factors
Conservative balance sheet
Very low leverage and sizable, fairly stable equity provide financial resilience through weaker operating periods. This structure reduces balance-sheet pressure, preserves flexibility for capital allocation, and lowers the risk that modest earnings volatility becomes a solvency constraint.
Negative Factors
Severe revenue contraction
A roughly 65% revenue decline is a material threat to the durability of the earnings recovery because a smaller revenue base limits operating leverage and growth capacity. Continued top-line pressure could weaken profitability, cash generation, and the ability to sustain investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage and sizable, fairly stable equity provide financial resilience through weaker operating periods. This structure reduces balance-sheet pressure, preserves flexibility for capital allocation, and lowers the risk that modest earnings volatility becomes a solvency constraint.
Read all positive factors
Innovax Holdings Limited (2680) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$345.00M
Dividend YieldN/A
Average Volume (3M)16.80K
Price to Earnings (P/E)30.3
Beta (1Y)>-0.01
Revenue Growth-65.08%
EPS GrowthN/A
CountryHK
Employees38
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.19
Shares Outstanding60,000,000
10 Day Avg. Volume20,600
30 Day Avg. Volume16,800
Financial Highlights & Ratios
PEG Ratio-0.47
Price to Book (P/B)3.69
Price to Sales (P/S)12.90
P/FCF Ratio81.80
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
Innovax Holdings Limited Business Overview & Revenue Model
Company Description
Innovax Holdings Limited functions as an investment holding enterprise, delivering a comprehensive suite of financial and securities services throughout Hong Kong. The company's core offerings include corporate finance advisory, which encompasses ...
Innovax Holdings Limited Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
82
Very Positive
Cash Flow
58
Neutral
| Breakdown | Feb 2026 | Feb 2024 | Feb 2023 | Feb 2022 | Feb 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 56.76M | 158.02M | 32.68M | 45.24M | 34.86M |
| Gross Profit | 54.35M | 139.53M | 8.71M | 45.24M | 34.86M |
| EBITDA | 10.63M | -33.90M | 3.37M | -3.49M | -17.51M |
| Net Income | 11.71M | -35.29M | 1.77M | -6.58M | -22.52M |
Balance Sheet | |||||
| Total Assets | 302.77M | 353.03M | 283.60M | 307.62M | 303.34M |
| Cash, Cash Equivalents and Short-Term Investments | 196.32M | 141.35M | 181.54M | 129.98M | 101.14M |
| Total Debt | 672.00K | 1.26M | 330.00K | 1.83M | 721.00K |
| Total Liabilities | 104.19M | 166.15M | 73.11M | 98.90M | 94.78M |
| Stockholders Equity | 198.58M | 186.87M | 210.49M | 208.71M | 208.55M |
Cash Flow | |||||
| Free Cash Flow | 8.95M | -29.32M | 22.73M | 29.72M | -6.90M |
| Operating Cash Flow | 8.96M | -29.32M | 22.73M | 30.05M | -6.89M |
| Investing Cash Flow | 2.84M | 4.07M | 3.44M | 426.00K | -12.00K |
| Financing Cash Flow | -325.00K | 10.43M | -1.54M | -1.91M | -2.36M |
Innovax Holdings Limited Technical Analysis
Negative
9.97
Price Trends
6.36
Negative
6.74
Negative
9.16
Negative
Market Momentum
-0.18
Positive
37.37
Neutral
70.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2680, the sentiment is Negative. The current price of 9.97 is above the 20-day moving average (MA) of 6.00, above the 50-day MA of 6.36, and above the 200-day MA of 9.16, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 37.37 is Neutral, neither overbought nor oversold. The STOCH value of 70.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2680.
Innovax Holdings Limited Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$384.23M | 2.95 | 3.57% | 9.43% | -22.54% | 60.00% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | HK$370.00M | 4.17 | 57.05% | 12.16% | 280.60% | 330.73% | |
62 Neutral | HK$341.80M | 5.92 | 8.47% | 7.20% | 99.18% | 272.34% | |
59 Neutral | HK$345.00M | 30.26 | 5.80% | ― | -65.08% | ― | |
56 Neutral | HK$340.00M | 33.01 | 2.80% | ― | -7.05% | 255.17% | |
45 Neutral | HK$183.25M | -4.29 | -23.72% | 1.72% | 10.05% | -40.15% |
* Financial Sector Average
HK:2680
Innovax Holdings Limited
5.75
0.09
1.59%
HK:0510
CASH Financial Services Group
0.42
-0.22
-34.13%
HK:0717
Emperor Capital Group Limited
0.06
-0.08
-57.78%
HK:1073
Da Yu Financial Holdings Limited
0.10
-0.02
-15.25%
HK:2263
Fu Shek Financial Holdings Limited
0.34
0.10
41.67%
HK:8350
Excalibur Global Financial Holdings Limited
0.39
0.13
48.08%
Innovax Holdings Limited Corporate Events
Austrax Sets Board Meeting to Review Interim Results and Consider Dividend
Oct 5, 2026
Austrax Holdings Limited has scheduled a board meeting for October 30, 2026, to review and approve its unaudited condensed consolidated financial statements for the six months ended August 31, 2026. The board will also consider whether to declare ...
Austrax Holdings Corrects Effective Date for Change of Authorised Representative
Aug 11, 2026
Austrax Holdings Limited, formerly Innovax Holdings Limited, is a Cayman Islands-incorporated company listed in Hong Kong, operating under a standard governance model with a board led by Chairman and Chief Executive Officer Wang Tingfa. Its board ...
Austrax Shareholders Unanimously Back Board Mandates and Director Slate at 2026 AGM
Aug 7, 2026
Austrax Holdings reported that shareholders unanimously approved all resolutions at its annual general meeting held on 7 August 2026, with 45,193,800 shares voting and no votes cast against any item. Investors endorsed the audited financial statem...
Austrax reshuffles Hong Kong authorised representatives and process agents
Aug 7, 2026
Austrax Holdings Limited, formerly Innovax Holdings Limited and listed in Hong Kong under stock code 2680, announced changes to its authorised representatives and process agents as part of an update to its corporate governance structure. The board...
Austrax Holdings Rebrands With New Name, Ticker Short Names and Logo
Aug 4, 2026
Austrax Holdings Limited, formerly Innovax Holdings Limited, is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange under stock code 2680, and is registered in Hong Kong as a non-Hong Kong company, though this announcement...
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.