Evidence and analysis
Research evidence pack
Source-backed valuation visuals
2. Company Fundamentals
2.1 Competitiveness
| Metric | Value |
|---|---|
| Free Float | 0.90B |
2.2 Growth
| Metric | Value |
|---|---|
| EV/EBITDA | -50.42 |
2.3 Management
| Role | Metric |
|---|---|
| Consensus Rating | N/A |
2.4 Return
| Metric | Value |
|---|---|
| Expected Return (Ann.)* | 91.94% |
| Risk / Std Dev (Ann.)* | 60.94% |
| 1-Year Price Return* | 59.11% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric | Value |
|---|---|
| Last Price | $3.23 |
| 52-Week Range | $1.86 – $4.43 |
| Observation Count | 251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. Revenue and net income are income-statement flows; total assets and shareholders’ equity are year-end balance-sheet figures. This is a simplified year-end-balance DuPont comparison rather than an average-balance ROE calculation.
| DuPont component | Calculation | FY2025 | FY2024 |
|---|---|---|---|
| Revenue | Reported revenue | $4.92M | $4.02M |
| Net income | Reported net income | $-217.29M | $-91.12M |
| Total assets | Year-end reported balance | $1.11B | $663.61M |
| Shareholders’ equity | Year-end reported balance | $368.37M | $564.32M |
| Net margin | Net income ÷ revenue | -4418.22% | -2264.95% |
| Asset turnover | Revenue ÷ total assets | 0.0044x | 0.0061x |
| Equity multiplier | Total assets ÷ shareholders’ equity | 3.0026x | 1.1759x |
| ROE | Net margin × asset turnover × equity multiplier | -58.99% | -16.15% |
Source: Yahoo Finance annual statements. Values are based on the two latest comparable annual periods returned by the source; fiscal period labels use the statement period-end year.
2.5 FCFF DCF Valuation
FCFF DCF exception: Reported operating inputs do not support a stable FCFF DCF. This post deliberately does not publish a mechanical enterprise value or implied per-share value on an unsuitable basis.
| Available valuation input | Value |
|---|---|
| Last market price | $3.10 |
| Market capitalisation | $2.81B |
| Revenue | $4.92M |
| EBIT | -$208.68M |
| Reported free cash flow | -$118.64M |
| FCF yield | -4.23% |
| Net debt / EBITDA | 1.28x |
2.6 Investor-Style Research Screen
| Educational screen | Result |
|---|---|
| Buffett-inspired cash-quality checks | not rated — FCFF DCF suitability or data-integrity condition not met |
| Lynch-inspired balance-and-growth checks | not rated — FCFF DCF suitability or data-integrity condition not met |
Data lineage: Yahoo Finance public market and reported-statement data; retrieval timestamp: 2026-08-18 17:30:21.674653 UTC; latest reported fiscal period: 2025-12-31 00:00:00. Financial institutions and REITs require sector-specific methods rather than a mechanical FCFF DCF. This is research and analysis only, not personalized financial advice.
2.7 Quantitative Factor Diagnostics
Model basis: Daily issuer USD excess returns are regressed in-sample using ordinary least squares on matching regional Fama–French factors. FF3 estimates market, size, and value loadings; FF5 adds profitability and investment. Coefficients are descriptive historical exposures, not predictions.
| Estimation input | Value |
|---|---|
| Regional factor set | US |
| Factor-return currency | USD |
| Issuer-return basis | USD adjusted total return |
| Estimation window | 2025-08-19 to 2026-06-30 |
| Aligned daily observations | 217 |
| Minimum observation requirement | 120 |
| Currency conversion for HK listings | not required |
Fama–French Three-Factor and Five-Factor Results
| Diagnostic | FF3 | FF5 |
|---|---|---|
| Annualised alpha | 55.86% | 9.52% |
| Adjusted R² | 0.22 | 0.28 |
| Annualised residual volatility | 54.15% | 51.85% |
| Factor loading (t-statistic) | FF3 | FF5 |
|---|---|---|
| Market excess return (Mkt-RF) | 1.67 (5.24) | 0.92 (2.62) |
| Size (SMB) | 0.79 (1.83) | 0.72 (1.61) |
| Value (HML) | -0.88 (-2.36) | -0.16 (-0.38) |
| Profitability (RMW) | NM | -1.35 (-3.61) |
| Investment (CMA) | NM | -1.04 (-1.61) |