Add New Energy Investment Holdings Group Ltd (2623) Fair Value & Analysis
Basic Materials · HK · Market cap HK$2.3B
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 3 days ago
Fair value updated Aug 13, 2026, revised from HK$0.6900 to HK$0.4200 (−39.1%) since Aug 6, 2026. Share price −11.3% over the past month.
Below-average quality, and screening another 90% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (HK$0.6200). The favourable scenario is already priced in.
- Weak quality (18/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range (HK$0.3100 to HK$0.6200) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$0.2799 – HK$6.38 · fair‑value band HK$0.3100 – HK$0.6200 · the HK$4.04 price screens above the HK$0.4200 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Add New Energy Investment Holdings Group Ltd (2623) currently trades at HK$4.04, while our model-based Fair Value estimate is HK$0.4200, implying the stock looks roughly 89.6% overvalued today. The Quality Score stands at 18/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).
Trailing-twelve-month revenue stands at HK$75.6M. Revenue declined 49.8% year over year. It earns a return on equity of -17.4%. The balance sheet holds a net cash position of HK$232M. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$0.3100 (bear case) to HK$0.6200 (bull case); at HK$4.04, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 40% below its 52-week high, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -42% fair-value upside, at -90%, 2623 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 23 · Market factors (momentum, volatility) 62
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Hong Kong Gold Industry Group Limited, an investment holding company, engages in the exploration, mining, and processing of iron and ilmenite ores in the People's Republic of China. The company produces and sells iron and titanium concentrates for iron pellets and steel manufacturers.
Full company description
Hong Kong Gold Industry Group Limited, an investment holding company, engages in the exploration, mining, and processing of iron and ilmenite ores in the People's Republic of China. The company produces and sells iron and titanium concentrates for iron pellets and steel manufacturers. It is also involved in the trading of blended coal, semi-coke, coarse iron powder, and coke; transportation and trading of minerals iron ore mining; processing and sale of iron concentrates; and develops clean energy, such as wind power, photovoltaic power, and solar power. The company was formerly known as Add New Energy Investment Holdings Group Limited and changed its name to Hong Kong Gold Industry Group Limited in April 2026. The company was incorporated in 2011 and is headquartered in Yishui, the People's Republic of China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Add New Energy Investment Holdings Group Ltd reported revenue of HK$75.6M in FY2025 versus HK$1.6B in FY2021, a compound −53.6%/yr. Reported net income was −HK$87.5M in FY2025.
2623 screens 90% overvalued. Compare with BHP Group →
Peer Group
Other Industrial Metals & Mining · 480 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Other Industrial Metals & Mining median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Other Industrial Metals & Mining stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| BHP Group BHPN | 1,425 MXN | 745.46 MXN | -48% |
| Rio Tinto Group RIO | A$179.43 | A$81.76 | -54% |
| Grupo México, S.A. GMEXICOB | 222.38 MXN | 172.99 MXN | -22% |
| Vale S.A VALEN | 250.00 MXN | 139.41 MXN | -44% |
| Saudi Arabian Mining Company 1211 | 58.05 SAR | 33.87 SAR | -42% |
| CMOC Group 603993 | ¥19.00 | ¥19.80 | +4% |
| China Tungsten And Hightech Materials Co 000657 | ¥70.43 | ¥9.55 | -86% |
| Hindustan Zinc Limited HINDZINC | ₹584.60 | ₹501.98 | -14% |
| China Northern Rare Earth (Group) High-Tech Co 600111 | ¥41.02 | ¥10.59 | -74% |
| Boliden AB BOL | kr 527.80 | kr 461.48 | -13% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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