Tearsheet

Addentax (ATXG)

Market Price (12/24/2025): $0.445 | Market Cap: $3.5 Mil
Sector: Industrials | Industry: Air Freight & Logistics

Addentax (ATXG)

Market Price (12/24/2025): $0.445
Market Cap: $3.5 Mil
Sector: Industrials
Industry: Air Freight & Logistics

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -507%	Weak multi-year price returns 2Y Excs Rtn is -111%, 3Y Excs Rtn is -176%	Penny stock Mkt Price is 0.4
1			Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -2.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -56%
2			Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -20%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -27%, Rev Chg QQuarterly Revenue Change % is -26%
3			Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -23%
4			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -112%
5			High stock price volatility Vol 12M is 108%
6			Key risks ATXG key risks include [1] potential Nasdaq delisting for failing to meet minimum bid price requirements, Show more.

0	Cash is significant % of market cap Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -507%
1	Weak multi-year price returns 2Y Excs Rtn is -111%, 3Y Excs Rtn is -176%
2	Penny stock Mkt Price is 0.4
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -2.1 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -56%
4	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -20%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -27%, Rev Chg QQuarterly Revenue Change % is -26%
5	Not cash flow generative CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -23%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -112%
7	High stock price volatility Vol 12M is 108%
8	Key risks ATXG key risks include [1] potential Nasdaq delisting for failing to meet minimum bid price requirements, Show more.

Valuation, Metrics & Events

	12/24/25	2024	2023	2022
Share Price CYE	$0.45	$0.61	$1.44	$10.71
Market Cap CYE ($ Mil)	3.5	3.5	5.7	30.4
Total Debt ($ Mil)	0.8	22.4	24.1	14.0
Total Cash ($ Mil)	17.9	17.8	18.3	18.3
Enterprise Value ($ Mil)	-13.6	25.9	29.8	44.4
Valuation Ratios
P/S TTM	0.9	0.9	1.2	4.1
P/EBIT TTM	-1.0	-0.9	11.4	11.4
P/E TTM	-0.9	-0.7	-2.0	24.6
P/FCF TTM	-3.9	5.9	-11.6	-20.7
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4	1.1
P/EBIT TTM (Sector)	12.9	11.8	11.2	9.1
P/E TTM (Sector)	17.3	16.5	15.4	12.1
P/FCF TTM (Sector)	13.4	13.2	12.1	8.4

	12/24/25	2024	2023
Share Price CYE	$0.45	$0.61	$1.44
Market Cap CYE ($ Mil)	3.5	3.5	5.7
Total Debt ($ Mil)	0.8	22.4	24.1
Total Cash ($ Mil)	17.9	17.8	18.3
Enterprise Value ($ Mil)	-13.6	25.9	29.8
Valuation Ratios
P/S TTM	0.9	0.9	1.2
P/EBIT TTM	-1.0	-0.9	11.4
P/E TTM	-0.9	-0.7	-2.0
P/FCF TTM	-3.9	5.9	-11.6
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4
P/EBIT TTM (Sector)	12.9	11.8	11.2
P/E TTM (Sector)	17.3	16.5	15.4
P/FCF TTM (Sector)	13.4	13.2	12.1

	ATXG	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	0.0
Rev Chg Q	-26.3%	7.3%
Rev Chg LTM	-19.9%	6.1%
Rev Chg 3Y Avg	-27.1%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.0
CFO LTM ($ Bil)	-0.0
Net Inc LTM ($ Bil)	-0.0
Op Mgn LTM	-56.4%	18.8%
CFO/Rev LTM	-18.0%	20.4%
Net Inc Mgn	-96.2%	13.1%
VALUATION	VERY LOW
P/S	0.9	3.2
P/CFO	-5.1	15.7
P/FCF	-3.9	20.7
P/E	-0.9	23.5
STABILITY	VERY GOOD
Debt/Equity	0.23	0.21
Cash/Assets	0.64	0.07

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Metric	Value	Date	Source
Logistics Services Geographic-Coverage - Cities	44	12312024	Link
Logistics Services Geographic-Coverage - Provinces	10	12312024	Link
Logistics Services Geographic-Coverage - Municipalities	2	12312024	Link
Planned Logistics Routes Expansion	20	12312024	Link

Upcoming
2/13/2026	Earnings Release	Rev: - EPS: -

ATXG Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Addentax (ATXG) experienced a significant decline in its stock price, moving by -22.3% approximately from August 31, 2025, to December 24, 2025, due to several key factors:

1. The company reported continued financial losses and declining revenue in its Q3 2025 earnings. Addentax Group reported a net loss of $102.84 thousand for Q3 2025, and overall for the twelve months ending September 30, 2025, the net profit was -$3.65 million, marking a decrease year over year. Quarterly revenue for Q3 2025 also fell by 16.3% from the previous quarter, with annual revenue for fiscal year 2025 decreasing by 18.9% year-over-year.

2. Addentax Group received a notice of non-compliance with Nasdaq's continued listing requirements. This notification, announced on October 20, 2025, indicated regulatory issues that typically lead to negative investor sentiment and put downward pressure on the stock price.

Show more Addentax (ATXG) experienced a significant decline in its stock price, moving by -22.3% approximately from August 31, 2025, to December 24, 2025, due to several key factors:

1. The company reported continued financial losses and declining revenue in its Q3 2025 earnings. Addentax Group reported a net loss of $102.84 thousand for Q3 2025, and overall for the twelve months ending September 30, 2025, the net profit was -$3.65 million, marking a decrease year over year. Quarterly revenue for Q3 2025 also fell by 16.3% from the previous quarter, with annual revenue for fiscal year 2025 decreasing by 18.9% year-over-year.

2. Addentax Group received a notice of non-compliance with Nasdaq's continued listing requirements. This notification, announced on October 20, 2025, indicated regulatory issues that typically lead to negative investor sentiment and put downward pressure on the stock price.

3. The ongoing risk of significant shareholder dilution from a proposed large-scale Bitcoin acquisition impacted investor confidence. While initially announced in July 2025, the plan to acquire up to 12,000 Bitcoins, valued at approximately $1.3 billion, was to be settled through newly issued ATXG common stock. This posed a substantial risk of dilution to existing shareholders throughout the period, contributing to negative market reaction.

4. Technical indicators showed an overall bearish trend for the stock during this period. As of December 22, 2025, Addentax Group Corp.'s overall moving average trend leaned bearish, with the stock in a downtrend that began on September 11, 2025, experiencing a total price change of -33.04% during this trend.

5. Persistent poor stock performance relative to its industry and the broader market contributed to the decline. ATXG underperformed the US Logistics industry and the US Market over the past year, with its stock price decreasing by -18.95% in the last 52 weeks and showing volatility over the three months leading up to December 2025. Show less

Stock Movement Drivers

Fundamental Drivers

The -56.9% change in ATXG stock from 9/23/2025 to 12/23/2025 was primarily driven by a -43.5% change in the company's P/S Multiple.

	9232025	12232025	Change
Stock Price ($)	1.01	0.43	-56.93%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4.08	3.79	-7.16%
P/S Multiple	1.60	0.90	-43.54%
Shares Outstanding (Mil)	6.47	7.87	-21.70%
Cumulative Contribution			-58.96%

LTM = Last Twelve Months as of date shown

Market Drivers

9/23/2025 to 12/23/2025

	Return	Correlation
ATXG	-56.9%
Market (SPY)	3.7%	7.2%
Sector (XLI)	2.6%	-4.0%

Fundamental Drivers

The -31.3% change in ATXG stock from 6/24/2025 to 12/23/2025 was primarily driven by a -36.8% change in the company's Shares Outstanding (Mil).

	6242025	12232025	Change
Stock Price ($)	0.63	0.43	-31.30%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4.32	3.79	-12.28%
P/S Multiple	0.84	0.90	7.17%
Shares Outstanding (Mil)	5.75	7.87	-36.84%
Cumulative Contribution			-40.63%

LTM = Last Twelve Months as of date shown

Market Drivers

6/24/2025 to 12/23/2025

	Return	Correlation
ATXG	-31.3%
Market (SPY)	13.7%	18.6%
Sector (XLI)	8.7%	11.6%

Fundamental Drivers

The -29.8% change in ATXG stock from 12/23/2024 to 12/23/2025 was primarily driven by a -46.8% change in the company's Shares Outstanding (Mil).

	12232024	12232025	Change
Stock Price ($)	0.62	0.43	-29.84%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	4.73	3.79	-19.87%
P/S Multiple	0.70	0.90	28.54%
Shares Outstanding (Mil)	5.36	7.87	-46.81%
Cumulative Contribution			-45.21%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2024 to 12/23/2025

	Return	Correlation
ATXG	-29.8%
Market (SPY)	16.7%	5.3%
Sector (XLI)	19.1%	4.9%

Fundamental Drivers

The -96.2% change in ATXG stock from 12/24/2022 to 12/23/2025 was primarily driven by a -194.8% change in the company's Shares Outstanding (Mil).

	12242022	12232025	Change
Stock Price ($)	11.40	0.43	-96.18%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	10.18	3.79	-62.76%
P/S Multiple	2.99	0.90	-69.80%
Shares Outstanding (Mil)	2.67	7.87	-194.80%
Cumulative Contribution			-110.66%

LTM = Last Twelve Months as of date shown

Market Drivers

12/24/2023 to 12/23/2025

	Return	Correlation
ATXG	-61.5%
Market (SPY)	48.4%	3.2%
Sector (XLI)	42.3%	2.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
ATXG Return	141%	0%	-85%	-87%	-57%	-25%	-98%
Peers Return	�	�	-74%	341%	77%	-1%	�
S&P 500 Return	16%	27%	-19%	24%	23%	17%	114%
Monthly Win Rates [3]
ATXG Win Rate	8%	0%	8%	33%	25%	42%
Peers Win Rate	�	54%	30%	67%	50%	60%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
ATXG Max Drawdown	0%	0%	-85%	-90%	-65%	-34%
Peers Max Drawdown	�	�	-75%	-1%	-34%	-37%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: MSTR, MARA, RIOT, COIN, GIL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)

How Low Can It Go

Unique Key	Event	ATXG	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-100.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	625235.7%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss		-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven		24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	1,660 days	120 days

Compare to RLGT, ELOG, MNGA, SLGB, TTG

In The Past

Addentax's stock fell -100.0% during the 2022 Inflation Shock from a high on 8/31/2022. A -100.0% loss requires a 625235.7% gain to breakeven.

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Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

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About Addentax (ATXG)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Addentax Group Corp., together with its subsidiaries, operates as a logistic service provider in the People's Republic of China. It operates through four segments: Garment, Logistics Services, Epidemic Prevention Supplies, and Property Management and Subleasing. The company manufactures garments; and provides logistic services, such as storage, transportation, warehousing, handling, packaging, and order processing, as well as customs declaration and tax clearance services. It also manufactures, distributes, and trades in epidemic prevention supplies; and offers shop subleasing and property management services for garment wholesalers and retailers in the garment market. In addition, it operates in the United States. The company is based in Shenzhen, China.

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Logistics Services: Provides integrated logistics solutions, including transportation, warehousing, and supply chain management.
Garment Manufacturing: Manufactures and sells a range of apparel products.

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Addentax Group Corp (ATXG) primarily operates on a Business-to-Business (B2B) model through its subsidiaries, focusing on three main segments: garment manufacturing, logistics services, and property management.

While the company serves a range of other companies, its latest Annual Report (10-K) for the fiscal year ended March 31, 2023, states that no single customer accounted for 10% or more of its total revenues. As such, Addentax does not publicly disclose the specific names of its major customers.

However, based on its business operations, Addentax's customers generally fall into the following categories of companies:

Apparel Brands and Fashion Retailers: For its garment manufacturing segment, Addentax produces various apparel products for brands and retailers, primarily located in China and internationally.
E-commerce Companies, Manufacturers, and General Retailers: Through its logistics services segment, Addentax provides storage, delivery, and distribution services predominantly to these types of businesses in China.
Tenants/Users of Industrial Properties: In its property management segment, Addentax manages industrial properties, serving businesses that lease or utilize these facilities.

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Hui Li, Chief Executive Officer

Hui Li has served as Addentax's Chief Executive Officer and Chairman of the Board since the company's inception in December 2016. He possesses over 17 years of experience in the garment manufacturing industry. From September 2003 to May 2011, Mr. Li was the General Manager of Zhongshan Yeli Garment Co., Ltd. Subsequently, he served as the General Manager of Shishi Jiayuan Garment Co., Ltd. from October 2011 to July 2016. Since July 2016, he has also held the positions of Chairman and General Manager of Addentax Group (Hong Kong) Limited.

Junyu Li, Chief Financial Officer

Junyu Li has served as the Chief Financial Officer of Addentax since September 2021. Prior to this role, he worked as a financial reporting manager at Sunshine 100 China Holdings Ltd. from October 2017 to August 2021. Before that, Mr. Li gained experience as an auditor at PricewaterhouseCoopers Zhong Tian LLP from July 2014 to September 2017.

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Addentax (ATXG) faces several critical risks to its business operations and financial stability.

Nasdaq Delisting Risk: Addentax has repeatedly received notifications from Nasdaq regarding its non-compliance with the minimum bid price requirement, which mandates a stock price of at least $1.00 per share. The company has been granted periods to regain compliance, but this remains a recurring threat to its listing status. A delisting would severely impact the company's ability to raise capital and its overall investor confidence.
Poor Financial Performance and Viability Concerns: The company has demonstrated a pattern of declining revenue and increased losses across its segments, particularly in logistics services. Earnings have decreased by an average of 15.8% annually over the past five years. Addentax also operates with a very small market capitalization, currently around $6 million, which can lead to liquidity issues and heightened stock price volatility. Furthermore, accumulated deficits have risen to $11.60 million, and total liabilities stand at approximately $25.75 million, raising concerns about its financial stability. An Altman Z-Score of 1.95 indicates an increased risk of bankruptcy.
High-Risk Bitcoin Acquisition Strategy: Addentax has entered into a non-binding term sheet to potentially acquire up to $1.3 billion in Bitcoin, a move that would be financed through the issuance of new shares of its common stock. Given the company's small market capitalization, this strategy carries substantial risks. The issuance of new shares could lead to significant shareholder dilution. Additionally, the cryptocurrency market is known for its extreme volatility, and a drop in Bitcoin's value could result in considerable losses for Addentax. The acquisition itself is subject to negotiation, due diligence, and regulatory approvals, introducing significant execution risks.

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The vertical integration of logistics services by major e-commerce platforms in China, such as Alibaba's Cainiao and JD.com Logistics, directly threatens third-party logistics providers like Addentax by reducing the demand for outsourced freight forwarding, warehousing, and transportation services.
The increasing robustness of built-in operating system security features (e.g., Microsoft Defender) and the industry-wide shift towards advanced cloud-based Endpoint Detection and Response (EDR) and Extended Detection and Response (XDR) solutions challenge the relevance and market share of traditional antivirus software products offered by Addentax.
Global supply chain diversification strategies, often referred to as "China plus one," driven by geopolitical tensions, trade tariffs, and the desire for supply chain resilience, are leading many international brands to reduce their reliance on manufacturing in China, thereby threatening Addentax's garment manufacturing business.

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Addentax (ATXG) operates in several segments, including garment manufacturing, logistics services, property management and subleasing, and epidemic prevention supplies. Recent company information also indicates a strategic shift towards becoming a Bitcoin treasury company and exploring Web3.0 payment infrastructure.

Garment Manufacturing Business

The addressable market for Addentax's garment manufacturing business is primarily in China. The total apparel market in China was valued at approximately $395.9 billion in 2023. Another estimate indicates that the revenue for the Apparel Manufacturing industry in China is expected to reach $298.3 billion in 2025.

Logistics Services Business

Addentax provides delivery and courier services covering numerous cities and municipalities in China. China's courier service revenues rose to approximately 1.4 trillion yuan (US$191.2 billion) in 2024. More broadly, the China logistics market generated a revenue of USD 359.6 billion in 2024 and is projected to grow to USD 548.5 billion by 2030.

Property Management and Subleasing Business

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Epidemic Prevention Supplies Business

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There is limited publicly available forward-looking guidance specifically detailing 3-5 expected drivers of future revenue growth for Addentax (ATXG) over the next 2-3 years within recent earnings releases, transcripts, or analyst reports. While general corporate strategies often involve elements like market expansion or product development, explicit and quantified drivers for future revenue growth, as sought, are not consistently articulated in the available search results.

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Share Issuance

Addentax Group (ATXG) completed its initial public offering (IPO) on August 30, 2022, offering 5,000,000 ordinary shares.
The shares were priced at $5.00 per ordinary share.

Inbound Investments

The IPO in August 2022 resulted in gross proceeds of $25,000,000 for the company.

Better Bets than Addentax (ATXG)

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		Best Bets In Industrials Sector
	ATXG	GATX	VRSK	PAYX	ADT	AGX	PCTY	TDG	FTV	VRRM	CSW
What You Pay
P/E	-0.9	19.9	33.1	25.7	10.3	38.4	37.5	36.9	30.6	69.5	35.9
P/EBIT	-1.0	9.6	22.6	17.7	5.2	38.5	26.9	18.2	14.9	20.6	27.7
What You Get
Rev Chg Q	-26.3%	8.4%	5.9%	18.3%	4.4%	-2.3%	12.5%	11.5%	2.3%	16.1%	21.5%
Rev Chg LTM	-19.9%	10.7%	7.3%	12.4%	6.3%	13.5%	13.3%	11.2%	27.9%	8.5%	14.9%
Rev Chg 3Y Avg	-27.1%	10.3%	13.4%	7.9%	3.4%	26.9%	21.4%	17.7%	9.4%	9.1%	11.3%
FCF/Rev 3Y Avg	-6.8%	39.2%	33.2%	32.6%	24.7%	24.5%	21.5%	21.0%	20.1%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Is Addentax Stock Built to Withstand More Downside?	Return

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0	ARTICLES

Trade Ideas

Select ideas related to ATXG. For more, see Trefis Trade Ideas.

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CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.9%	18.9%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.5%	5.5%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	6.5%	6.5%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	3.3%	3.3%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	6.0%	6.0%	-0.4%

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LW	Lamb Weston	5.9	-30.1%	-35.8%
TLRY	Tilray Brands	11.2	-24.5%	-20.8%
OLMA	Olema Pharmaceuticals	2.4	-19.3%	374.6%
INSP	Inspire Medical Systems	2.8	-17.8%	-48.8%
GETY	Getty Images	0.5	-17.6%	-41.7%
TDUP	ThredUp	0.8	-16.4%	363.3%
FRMI	Fermi	5.8	-15.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	161.4%
WVE	WAVE Life Sciences	2.9	147.9%	41.3%
AAOI	Applied Optoelectronics	2.6	97.5%	10.3%
LUNR	Intuitive Machines	1.9	91.5%	-9.1%
RKLB	Rocket Lab	39.8	91.5%	203.0%
VERA	Vera Therapeutics	3.4	89.4%	27.5%
PL	Planet Labs PBC	6.3	85.8%	413.1%
ANF	Abercrombie & Fitch	5.9	77.2%	-17.2%
ARWR	Arrowhead Pharmaceuticals	9.7	72.6%	271.4%
NRGV	Energy Vault	0.8	68.8%	122.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-75.4%	-50.6%
JANX	Janux Therapeutics	0.9	-51.0%	-73.6%
LENZ	LENZ Therapeutics	0.5	-42.9%	-41.5%
FRMI	Fermi	5.8	-42.5%
GOGO	Gogo	0.6	-35.0%	-43.3%
HPK	HighPeak Energy	0.5	-29.7%	-70.1%
UP	Wheels Up Experience	0.4	-29.2%	-61.8%
ORIC	ORIC Pharmaceuticals	0.6	-28.8%	2.5%
LW	Lamb Weston	5.9	-27.5%	-35.8%
ACLX	Arcellx	3.7	-27.4%	-14.6%

Peer Comparisons for Addentax

Peers to compare with:

Financials

	ATXG	MSTR	MARA	RIOT	COIN	GIL	Median
Name	Addentax	Strategy	MARA	Riot Pla.	Coinbase.	Gildan A.
Mkt Price	0.43	157.88	9.86	13.67	242.30	63.12	38.39
Mkt Cap	0.0	44.9	3.7	4.7	61.8	9.4	7.1
Rev LTM	4	475	919	637	7,008	3,362	778
Op Inc LTM	-2	-41	-625	-324	1,890	728	-22
FCF LTM	-1	-37,556	-1,323	-1,631	1,807	-	-1,323
FCF 3Y Avg	-0	-14,523	-736	-906	797	-	-736
CFO LTM	-1	-63	-891	-566	1,807	-	-63
CFO 3Y Avg	-0	-35	-554	-229	828	-	-35

Growth & Margins

	ATXG	MSTR	MARA	RIOT	COIN	GIL	Median
Name	Addentax	Strategy	MARA	Riot Pla.	Coinbase.	Gildan A.
Rev Chg LTM	-19.9%	1.6%	53.5%	103.6%	48.6%	4.0%	26.3%
Rev Chg 3Y Avg	-27.1%	-1.7%	82.7%	37.8%	23.3%	0.7%	12.0%
Rev Chg Q	-26.3%	10.9%	91.7%	112.6%	3.3%	2.2%	7.1%
QoQ Delta Rev Chg LTM	-7.2%	2.7%	15.1%	17.6%	0.7%	0.6%	1.7%
Op Mgn LTM	-56.4%	-8.7%	-68.0%	-50.8%	27.0%	21.7%	-29.8%
Op Mgn 3Y Avg	-32.8%	-6.4%	-57.8%	-80.1%	2.9%	19.3%	-19.6%
QoQ Delta Op Mgn LTM	-14.0%	4.7%	7.5%	18.4%	-6.0%	0.4%	2.5%
CFO/Rev LTM	-18.0%	-13.3%	-97.0%	-88.8%	25.8%	-	-18.0%
CFO/Rev 3Y Avg	-3.3%	-7.3%	-98.4%	-42.8%	10.6%	-	-7.3%
FCF/Rev LTM	-23.4%	-7,907.5%	-144.0%	-256.0%	25.8%	-	-144.0%
FCF/Rev 3Y Avg	-6.8%	-3,060.9%	-123.8%	-207.0%	9.6%	-	-123.8%

Valuation

	ATXG	MSTR	MARA	RIOT	COIN	GIL	Median
Name	Addentax	Strategy	MARA	Riot Pla.	Coinbase.	Gildan A.
Mkt Cap	0.0	44.9	3.7	4.7	61.8	9.4	7.1
P/S	0.9	94.5	4.0	7.4	8.8	2.8	5.7
P/EBIT	-1.0	4.1	3.0	25.7	17.4	13.9	9.0
P/E	-0.9	5.7	4.0	28.9	21.6	19.8	12.7
P/CFO	-5.0	-713.4	-4.1	-8.4	34.2	-	-5.0
Total Yield	-107.8%	17.6%	25.3%	3.5%	4.6%	5.7%	5.2%
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.7%	0.0%
FCF Yield 3Y Avg	-1.9%	-24.3%	-18.1%	-26.4%	0.5%	-	-18.1%
D/E	0.2	0.2	1.0	0.2	0.1	0.2	0.2
Net D/E	-5.1	0.2	0.8	0.1	-0.1	0.2	0.1

Returns

	ATXG	MSTR	MARA	RIOT	COIN	GIL	Median
Name	Addentax	Strategy	MARA	Riot Pla.	Coinbase.	Gildan A.
1M Rtn	4.6%	-7.4%	-2.1%	7.6%	0.8%	11.4%	2.7%
3M Rtn	-56.9%	-51.8%	-44.3%	-19.9%	-24.3%	10.5%	-34.3%
6M Rtn	-31.3%	-58.1%	-33.7%	36.4%	-29.7%	33.3%	-30.5%
12M Rtn	-29.8%	-52.5%	-48.8%	26.6%	-9.6%	37.4%	-19.7%
3Y Rtn	-96.2%	870.6%	172.4%	271.5%	582.7%	148.2%	221.9%
1M Excs Rtn	-0.1%	-12.0%	-6.7%	2.9%	-3.9%	6.7%	-2.0%
3M Excs Rtn	-61.4%	-55.3%	-48.2%	-28.1%	-28.8%	7.4%	-38.5%
6M Excs Rtn	-40.3%	-72.8%	-47.6%	23.3%	-45.2%	22.4%	-42.8%
12M Excs Rtn	-44.2%	-69.4%	-69.4%	4.4%	-29.3%	19.6%	-36.8%
3Y Excs Rtn	-175.9%	729.3%	74.8%	180.4%	482.7%	65.8%	127.6%

FDIC Bank Data

$ Mil \| FY: 3/31	LTM	2025	2024	2023	2022	2021	2020
Period End	9/30/2025	3/31/2025	3/31/2024	3/31/2023	3/31/2022	3/31/2021	3/31/2020
Filing Date	11/14/2025	6/30/2025	7/15/2024	6/29/2023	6/23/2022	6/29/2021	6/29/2020
Key Financials
Total Revenue	4	4	5	8	13	25	10
EBITDA	-2	-2	2	3	0	-3	-1
Operating Income	-2	-2	-1	-0	-0	-4	-1
Net Income	-4	-5	-3	1	0	-4	-1
EPS	-0.59	-0.85	-0.71	0.40	0.03	-1.40	-0.40
Growth Rates
Total Revenue Growth	-19.9%	-18.9%	-35.1%	-37.4%	-48.7%	143.2%	1.5%
EBITDA Growth	-549.7%	-250.8%	-52.8%	1087.6%	107.8%	-315.3%	-48.4%
Operating Income Growth	-97.5%	-64.4%	-154.8%	-658.9%	98.4%	-317.5%	-26.5%
Net Income Growth	1.1%	-63.8%	-335.6%	1591.9%	102.2%	-266.1%	-41.2%
Margins
EBITDA Margin	-46.9%	-54.3%	29.2%	40.2%	2.1%	-13.9%	-8.2%
Operating Income Margin	-56.4%	-43.3%	-21.4%	-5.4%	-0.4%	-14.6%	-8.5%
Net Income Margin	-96.2%	-121.8%	-60.3%	16.6%	0.6%	-14.5%	-9.6%
Cash & Debt
Total Cash	18	18	18	18	1	2	1
Total Debt	1	22	24	14	10	15	8
Net Debt / (Cash)	-17	5	6	-4	9	13	7
Cash Flows
Net Cash from Operations	-1	1	-0	-2	1	-4	-1
Free Cash from Operations	-1	1	-1	-2	1	-5	-1
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0

$ Mil \| FY: 3/31	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/14/2025	8/14/2025	6/30/2025	2/14/2025	11/14/2024	8/14/2024	7/15/2024	2/14/2024	11/14/2023	8/14/2023	6/29/2023	2/14/2023
Key Financials Quarterly
Total Revenue	1	1	1	1	1	1	1	1	1	1	1	2
Ebitda	-1	1	-2	-0	-0	0	2	-2	2	-1	3	0
Operating Income	-0	-1	-1	-0	-0	-1	-0	-0	-0	-0	-0	-0
Net Income	-0	-0	-2	-1	-1	-1	1	-3	1	-3	1	-0
EPS	-0.02	-0.06	-0.32	-0.19	-0.13	-0.25	0.29	-0.66	0.37	-0.83	0.37	-0.03
Key Financials TTM
Total Revenue TTM	4	4	4	4	5	5	5	5	6	7	8	10
Ebitda TTM	-2	-1	-2	2	0	3	2	2	4	2	3	0
Operating Income TTM	-2	-2	-2	-1	-1	-1	-1	-1	-1	-1	-0	-0
Net Income TTM	-4	-4	-5	-2	-4	-2	-3	-3	-0	-2	1	0
Growth Rates Quarterly
Total Revenue Growth	-26.3%	15.3%	-28.4%	-27.9%	-16.7%	-19.1%	0.5%	-30.8%	-37.7%	-55.9%	-54.8%	-24.0%
EBITDA Growth	-58.9%	928.2%	-164.5%	95.8%	-123.9%	104.3%	-15.1%	-7394.9%	785.4%	-1097.7%	36967.8%	-64.7%
Operating Income Growth	-983.7%	-24.2%	-685.4%	15.2%	86.4%	-93.5%	81.0%	-383.6%	-534.7%	-666.0%	-572.8%	-235.9%
Net Income Growth	85.7%	67.9%	-338.9%	58.4%	-153.0%	55.2%	-29.2%	-3071.6%	1537.2%	-2922.7%	2840.6%	-807.6%
Margins Quarterly
EBITDA Margin	-94.6%	61.2%	-165.5%	-6.1%	-43.9%	6.9%	183.6%	-106.0%	152.8%	-129.2%	217.3%	1.0%
Operating Income Margin	-54.8%	-63.9%	-73.3%	-36.0%	-3.7%	-59.3%	-6.7%	-30.6%	-22.8%	-24.8%	-35.3%	-4.4%
Net Income Margin	-12.5%	-40.0%	-222.4%	-102.5%	-64.8%	-143.5%	66.6%	-177.6%	102.0%	-259.3%	94.6%	-3.9%
Cash & Debt
Total Cash	18	18	18	18	18	18	18	0	2	18	18	19
Total Debt	1	20	22	23	24	25	24	25	25	11	14	6
Net Debt / (Cash)	-17	2	5	5	6	6	6	24	23	-7	-4	-13
Cash Flows Quarterly
FCF from Operations	-1	-0	0	0	1	-0	1	0	-0	-1	-0	-0
Cash Flows TTM
FCF from Operations TTM	-1	1	1	2	2	1	-0	-2	-2	-3	-2	-1
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-7.9%	-6.0%	-6.8%	-3.8%	-0.4%	-4.9%	-0.9%	-3.1%	-2.2%	-4.1%	-7.2%	-2.3%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-9.3%	-4.2%	-4.0%	-2.5%	-2.6%	-3.2%	-2.7%	-2.5%	-2.0%	-2.9%	-1.7%	-0.2%

Segment Financials

Assets by Segment

$ Mil	2025	2024	2023	2022
Corporate and other	27	37	1	0
Property management and subleasing	21		8
Logistics services segment	3	2	3
Garments manufacturing segment	1	2	2
Epidemic prevention supplies			0
Manufacturing segment				4
Service segment				3
Total	52	41	13	8

Price Behavior

Price Behavior

Market Price	$0.43
Market Cap ($ Bil)	0.0
First Trading Date	03/21/2018
Distance from 52W High	-62.5%
	50 Days	200 Days
DMA Price	$0.54	$0.66
DMA Trend	down	down
Distance from DMA	-20.0%	-34.4%
	3M	1YR
Volatility	95.4%	107.8%
Downside Capture	281.97	91.34
Upside Capture	-165.34	42.23
Correlation (SPY)	8.5%	5.6%

ATXG Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.24	0.64	1.32	2.06	0.28	0.41
Up Beta	2.53	3.68	0.61	1.71	-0.09	0.02
Down Beta	1.58	-2.56	-1.65	1.09	-0.01	0.45
Up Capture	179%	-152%	207%	115%	58%	-2%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	7	13	25	53	109	302
Down Capture	242%	305%	298%	290%	99%	107%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	24	32	65	130	424

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of ATXG With Other Asset Classes (Last 1Y)
	ATXG	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-32.0%	20.4%	18.8%	72.9%	9.0%	3.7%	-11.4%
Annualized Volatility	107.8%	18.8%	19.5%	19.2%	15.3%	17.2%	35.0%
Sharpe Ratio	0.14	0.85	0.76	2.72	0.36	0.05	-0.14
Correlation With Other Assets		4.6%	5.3%	17.4%	-1.0%	11.5%	8.7%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of ATXG With Other Asset Classes (Last 5Y)
	ATXG	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-78.6%	13.8%	14.8%	18.9%	11.8%	4.7%	35.5%
Annualized Volatility	5,111.7%	17.2%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.52	0.64	0.70	0.98	0.51	0.16	0.62
Correlation With Other Assets		-2.8%	-2.6%	-2.8%	-7.0%	-1.2%	1.6%

Based On 10-Year Data

		Comparison of ATXG With Other Asset Classes (Last 10Y)
	ATXG	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-52.0%	13.5%	14.8%	15.1%	6.8%	5.4%	69.1%
Annualized Volatility	5,109.1%	19.9%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.53	0.60	0.71	0.85	0.31	0.23	0.90
Correlation With Other Assets		-3.0%	-2.7%	-2.8%	-7.1%	-1.5%	1.6%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	2,622
Short Interest: % Change Since 11152025	-78.2%
Average Daily Volume	81,420
Days-to-Cover Short Interest	1
Basic Shares Quantity	7,869,104
Short % of Basic Shares	0.0%

Returns Analyses

	Title
0	Is Addentax Stock Built to Withstand More Downside?

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	11142025	10-Q 9/30/2025
6302025	8142025	10-Q 6/30/2025
3312025	6302025	10-K 3/31/2025
12312024	2142025	10-Q 12/31/2024
9302024	11142024	10-Q 9/30/2024
6302024	8142024	10-Q 6/30/2024
3312024	7152024	10-K 3/31/2024
12312023	2142024	10-Q 12/31/2023
9302023	11142023	10-Q 9/30/2023
6302023	8142023	10-Q 6/30/2023
3312023	6292023	10-K 3/31/2023
12312022	2142023	10-Q 12/31/2022
9302022	11142022	10-Q 9/30/2022
6302022	8152022	10-Q 6/30/2022
3312022	6232022	10-K 3/31/2022
12312021	2142022	10-Q 12/31/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Hamilton Alex P.		11192025	Sell	0.52	23,095	12,009		Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Addentax (ATXG)

Market Price (12/24/2025): $0.445 | Market Cap: $3.5 MilSector: Industrials | Industry: Air Freight & Logistics

Addentax (ATXG)

Market Price (12/24/2025): $0.445Market Cap: $3.5 MilSector: IndustrialsIndustry: Air Freight & Logistics

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

ATXG Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Addentax (ATXG)

Garment Manufacturing Business

Logistics Services Business

Property Management and Subleasing Business

Epidemic Prevention Supplies Business

Interactive Breakdown

Better Bets than Addentax (ATXG)

INDUSTRY: Air Freight & Logistics

Higher Rev Chg 3Y Avg | Lower P/S (Values for ATXG: -27.1% | 0.9x)

Higher Rev Chg LTM (Value for ATXG: -19.9%)

Higher Rev Chg 3Y Avg (Value for ATXG: -27.1%)

Higher Op Mgn LTM (Value for ATXG: -56.4%)

Higher CFO/Rev LTM (Value for ATXG: -18.0%)

Higher FCF/Rev LTM (Value for ATXG: -23.4%)

Higher Total Yield (Value for ATXG: -107.8%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for ATXG: -27.1% | 0.9x)

Higher Rev Chg LTM (Value for ATXG: -19.9%)

Higher Rev Chg 3Y Avg (Value for ATXG: -27.1%)

Higher Op Mgn LTM (Value for ATXG: -56.4%)

Higher CFO/Rev LTM (Value for ATXG: -18.0%)

Higher FCF/Rev LTM (Value for ATXG: -23.4%)

Higher Total Yield (Value for ATXG: -107.8%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for ATXG: -27.1% | 0.9x)

Higher Rev Chg LTM (Value for ATXG: -19.9%)

Higher Rev Chg 3Y Avg (Value for ATXG: -27.1%)

Higher Op Mgn LTM (Value for ATXG: -56.4%)

Higher CFO/Rev LTM (Value for ATXG: -18.0%)

Higher FCF/Rev LTM (Value for ATXG: -23.4%)

Higher Total Yield (Value for ATXG: -107.8%)

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Market Price (12/24/2025): $0.445 | Market Cap: $3.5 Mil
Sector: Industrials | Industry: Air Freight & Logistics

Market Price (12/24/2025): $0.445
Market Cap: $3.5 Mil
Sector: Industrials
Industry: Air Freight & Logistics