Irico Group New Energy Co (HKSE:00438) Scaled Net Operating Assets: 0.75 (As of Dec. 2025)


HKSE:00438 Irico Group New Energy Co Ltd HKSE:00438
49 GF Score
Price HK$1.31
GF Value HK$2.79
Valuation Possible Value Trap
! 6 Warning Signs
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What is Irico Group New Energy Co Scaled Net Operating Assets?

Irico Group New Energy Co HKSE:00438 49 Scaled Net Operating Assets is 0.75 as of Dec. 2025. GuruFocus rates HKSE:00438 with a GF Score™ of 49/100 and a GF Value™ of HK$2.79 (Possible Value Trap). The stock has 6 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Irico Group New Energy Co's operating assets for the quarter that ended in Dec. 2025 was HK$8,887 Mil. Irico Group New Energy Co's operating liabilities for the quarter that ended in Dec. 2025 was HK$1,568 Mil. Irico Group New Energy Co's Total Assets for the quarter that ended in Jun. 2025 was HK$9,720 Mil. Therefore, Irico Group New Energy Co's scaled net operating assets (SNOA) for the quarter that ended in Dec. 2025 was 0.75.


Irico Group New Energy Co Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Irico Group New Energy Co's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Irico Group New Energy Co Scaled Net Operating Assets Chart

Irico Group New Energy Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.66 0.86 0.94 0.77 0.78

Irico Group New Energy Co Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.87 0.72 0.75 0.81 0.75

HKSE:00438 vs FSLR, NXT, ENPH: Scaled Net Operating Assets Comparison

For the Solar subindustry, Irico Group New Energy Co's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Irico Group New Energy Co Scaled Net Operating Assets vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Irico Group New Energy Co's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Irico Group New Energy Co's Scaled Net Operating Assets falls into.


HKSE:00438
49GF Score
Irico Group New Energy Co Ltd HKSE:00438
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Irico Group New Energy Co Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Irico Group New Energy Co's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(8886.824-1568.364)/9369.112
=0.78

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=9183.977 - 297.153
=8886.824

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=8254.124 - 2697.75 - 3988.01
=1568.364

Irico Group New Energy Co's Scaled Net Operating Assets (SNOA) for the quarter that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Dec. 2025 )
=(Operating Assets (Q: Dec. 2025 )-Operating Liabilities (Q: Dec. 2025 ))/Total Assets (Q: Jun. 2025 )
=(8886.824-1568.364)/9719.891
=0.75

where

Operating Assets(Q: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=9183.977 - 297.153
=8886.824

Operating Liabilities(Q: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=8254.124 - 2697.75 - 3988.01
=1568.364

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.75 mean?
Irico Group New Energy Co (HKSE:00438) has a Scaled Net Operating Assets of 0.75 as of Dec. 2025. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Irico Group New Energy Co and its competitors.
Is Irico Group New Energy Co's Scaled Net Operating Assets too high?
Irico Group New Energy Co's current Scaled Net Operating Assets is 0.75. Overall, Irico Group New Energy Co has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Irico Group New Energy Co's Scaled Net Operating Assets compare to FSLR and NXT?
Irico Group New Energy Co's Scaled Net Operating Assets of 0.75 can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Semiconductors company?
A good Scaled Net Operating Assets depends on the Semiconductors industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Irico Group New Energy Co and its competitors. Irico Group New Energy Co's current Scaled Net Operating Assets is 0.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Irico Group New Energy Co stock overvalued right now?
Based on GuruFocus' analysis, Irico Group New Energy Co (HKSE:00438) is currently considered Possible Value Trap. The stock's GF Value™ is HK$2.79, compared to a current price of HK$1.31 — trading 53% below its estimated fair value. The current Scaled Net Operating Assets is 0.75. Irico Group New Energy Co's overall GF Score™ is 49/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Irico Group New Energy Co (HKSE:00438), the current Scaled Net Operating Assets is 0.75 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Irico Group New Energy Co (HKSE:00438) Overvalued in 2026?

Based on GuruFocus' analysis, Irico Group New Energy Co stock appears to be undervalued. The current stock price of HK$1.31 is trading 53% below its estimated GF Value™ of HK$2.79. GuruFocus considers Irico Group New Energy Co to be Possible Value Trap.

Key valuation signals for HKSE:00438:

  • Scaled Net Operating Assets: 0.75
  • GF Value™: HK$2.79 vs. price of HK$1.31 (53% below fair value)
  • GF Score™: 49/100 with 6 warning signs

No single metric tells the full story. See the HKSE:00438 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Irico Group New Energy Co Business Description

Address Xinghuo Avenue, No. 3, C6, High-Tech Industrial Development Zone, Shaanxi Province, Xianyang, CHN, 712000
Irico Group New Energy Co Ltd is mainly engaged in the solar photovoltaic business. Along with its subsidiaries, it produces and sells solar photovoltaic glass, solar photovoltaic modules, and back glass, which is applied to solar cell module packaging. Its geographical segments are: The People's Republic of China (excluding Hong Kong), and Other countries, of which the majority of the revenue comes from China.
49GF Score

Get the complete analysis for HKSE:00438

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$1.31
Price
HK$2.79
GF Value