1. China Stocks

  2. •

    Consumer non-durables

  3. •

    Apparel/Footwear
Golden Solar New Energy Technology Holdings Limited

Golden Solar New Energy Technology Holdings Limited

HHKEX:1121
0.36
HKD
-0.01
(-2.70%)
2.44BMarket Cap
Apr 01Next Earn
Golden Solar New Energy Technology Holdings Limited
HKEX:1121
(Hong Kong Exchange)

Recent

price

0.36

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
1.11
1.14
1.36
0.61
0.19
0.16
0.2
0.12
0.15
0.12
0.08
0.2
0.16
0.17
0.14
0.08
- -
Revenue per Share
0.15
0.16
0.15
0.07
-0.03
-0.02
-0.29
-0.4
-0.25
-0.22
-0.07
0.01
-0.1
-0.18
-0.15
-0.17
- -
Basic EPS, GAAP
0.23
0.09
0.21
0.07
0.07
-0.35
-0.72
0.01
-0.01
-0.01
-0.01
-0.11
-0.08
-0.14
-0.04
- -
- -
Free Cash Flow per Basic Share
- -
0.08
0.04
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.41
0.92
1.04
1.11
1.08
1.06
0.78
0.38
0.24
0.03
-0.03
0.17
0.38
0.3
0.21
0.14
0.14
Book Value per Share
0.41
0.92
1.04
1.11
1.08
-0.33
-0.45
-0.23
-0.06
-0.02
-0.03
0.17
0.37
0.3
0.21
0.14
0.14
Tangible Book Value per Share
750
980
997
1,015
1,014
1,044
1,081
1,084
1,096
1,454
1,487
1,592
1,710
1,774
1,814
1,837
1,838
Basic Weighted Avg Shares
833
1,118
1,352
624
197
172
216
126
164
170
112
314
274
295
254
155
- -
Sales/Revenue/Turnover
18.99
20.85
20.56
12.49
-11.43
-3.17
-41.59
-117.95
-59.16
-44.87
-47.82
-1.55
-76.59
-108.37
-106.05
-187.8
- -
Operating Margin (%)
6
6
10
10
10
15
114
136
84
60
19
10
13
24
44
47
- -
Depreciation Expense
114
161
154
68
-31
-26
-318
-435
-275
-314
-109
9
-167
-326
-277
-308
- -
Net Income, GAAP
30.77
30.32
35.19
28.44
- -
- -
- -
- -
- -
- -
- -
20.02
- -
- -
- -
- -
- -
Effective Tax Rate (%)
13.7
14.38
11.39
10.88
-15.83
-14.95
-147.14
-346.91
-167.39
-185.3
-97.22
2.94
-60.9
-110.51
-109.42
-198.51
- -
Profit Margin (%)
224
789
909
987
965
49
-107
-184
-123
-103
-132
147
456
262
91
-56
-56
Working Capital
- -
- -
- -
- -
- -
92
195
58
- -
1
- -
2
- -
47
26
26
26
LT Debt
307
916
1,057
1,122
1,091
1,129
843
413
314
48
-45
285
645
541
382
267
267
Total Equity
26.9
18.64
11.93
5.21
- -
- -
- -
- -
- -
- -
- -
5.61
- -
- -
- -
- -
- -
Return on Invested Capital (%)
36.45
19.34
12.35
5.5
- -
- -
- -
- -
- -
- -
- -
5.76
- -
- -
- -
- -
- -
Return on Capital (%)
43.06
26.29
15.61
6.23
-2.81
-2.31
-32.2
-69.28
-75.71
-173.76
- -
- -
-35.94
-55.05
-60.09
-94.81
- -
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
126
198
129
LT Borrowings
- -
5
22
LT Finance Leases
26
12
4
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,813
1,813
1,924
Market Capitalization
3,834
2,532
2,196

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
369
279
244
Cash, Cash Equivalents & STI
32
24
11
Accounts Receivable, Net
144
64
81
Inventories
118
116
84
Total Current Liabilities
278
336
300
Payables & Accruals
- -
- -
- -
ST Debt
126
198
129
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-106.23%
-136.74%
-30.13%
Free Cash Flow
110.58%
220.15%
-99.29%
Net Income, GAAP
-84.19%
-385.64%
11%
Sales/Revenue/Turnover
10.65%
24.49%
-38.81%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
295
2024
- -
- -
254
2025
- -
- -
155

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
-0.18
2024
- -
- -
-0.15
2025
- -
- -
-0.17

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
- -
2024
- -
- -
- -
2025
- -
- -
- -
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Business
Golden Solar New Energy Technology Holdings Limited Golden Solar New Energy Technology Holdings Limited (1121.HK), an investment holding company listed on the Main Board of The Stock Exchange of Hong Kong Limited, engages primarily in the manufacture and sale of footwear products; graphene-based materials and applications including ethylene-vinyl acetate foam material, slippers, deodorizing and sterilizing chips for air purifiers and air conditioners, and graphene air sterilizers; photovoltaic products such as cast monocrystalline silicon wafers, cast-mono heterojunction (HJT) solar cells and modules, hybrid passivation back contact (HBC) solar cells, HBC flexible modules, and bendable solar awnings; as well as original equipment manufacturer services for slippers and trading activities. The company operates through segments encompassing Boree branded products like slippers, sandals, and casual footwear; graphene-based products; photovoltaic products; and original equipment manufacturer operations, with sales extending to the People's Republic of China, the United States, South America, Europe, South East Asia, and other international markets. Founded in 1999 and headquartered in Quanzhou, Fujian Province, China, Golden Solar, formerly known as Baofeng Modern International Holdings Company Limited, has transformed from a traditional footwear manufacturer under brands such as Boree and Baofeng into a materials science and new energy technology firm through strategic acquisitions of graphene technology know-how several years ago and advancements in solar innovations since 2020, including the development of high-efficiency HJT cells exceeding 24% conversion efficiency and patented cast-mono crystalline silicon processes. Recent developments include the formation of Jinlong (Xi'an) New Energy Technology Co., Ltd. in September 2024 as a joint venture with JP-Solar Power (Fujian) Company Limited and Xi'an Longi Leye Photovoltaic Technology Co., Ltd. to produce and sell HBC solar cells by upgrading PERC production lines; a long-term supply cooperation agreement signed in September 2025 by its Putian Branch with First Holding Group Co., Limited, an authorized partner of Swiss PV AG, for up to 300MW annually of photovoltaic cells and modules targeting the European rooftop solar market under the Megasol brand; a strategic cooperation agreement with the AKANI Group in South Africa announced on May 16, 2025; and ongoing equity buyback activities with updates through August 2024, alongside upgrades to HJT cell production lines during 2024 to enhance conversion efficiencies. Subsidiaries such as Quanzhou Baofeng Shoes Co., Ltd. support footwear operations, while Golden Solar (Quanzhou) New Energy Technology Co., Ltd. drives solar and materials research, development, manufacturing, and commercialization efforts.