GRFXF (GRFXF)
Graphex Group Limited
NASDAQ:GRFXFBasic Materials · Industrial Materials
Mkt Cap-
Float828.81M
O/S-
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$17.53M
Net Income-$46.47M
Total Assets$69.07M
Free Cash Flow-$8.05M
Debt & Equity
Debt 87%
Equity 12%
Preferred 1%
Total Debt$28.5M
Total Equity$4.02M
Preferred Stock$412K
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:5
Nasdaq bars a compliance period at 1:250
- 1:5Reverse splitMar 26, 20255 shares → 1
Balance Sheet Details
Assets$69.07M
Liabilities$63.8M
Accounts Receivable$6.31M
Accounts Payable$3.43M
Inventory$588K
PP&E (Net)$8.77M
Goodwill$0
Intangible Assets$25.28M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Revenue | $17.53M | $23.95M | $37.21M | $43.5M | $49.85M | $49.57M | $40.02M | $25.15M | $16.4M | $23.43M | $30.3M | $30.77M | $27.67M | $21.98M | $22.86M |
| YoY Growth | -26.8% | -35.7% | -14.5% | -12.7% | 0.6% | 23.9% | 59.1% | 53.3% | -30.0% | -22.7% | -1.5% | 11.2% | 25.9% | -3.8% | - |
| Cost of Revenue | $16.26M | $15.24M | $24.87M | $28.21M | $30.94M | $29.55M | $24.19M | $10.6M | $10.67M | $11.98M | $14.1M | $14.42M | $12.47M | $11.61M | $10.64M |
| Gross Profit | $1.27M | $8.71M | $12.34M | $15.29M | $18.91M | $20.02M | $15.83M | $14.55M | $5.74M | $11.44M | $16.2M | $16.35M | $15.2M | $10.37M | $12.22M |
| Gross Margin | 7.3% | 36.4% | 33.2% | 35.2% | 37.9% | 40.4% | 39.5% | 57.9% | 35.0% | 48.8% | 53.5% | 53.1% | 54.9% | 47.2% | 53.4% |
| Research and Development | $1.03M | $1.67M | $2.31M | $2.1M | $2.9M | $2.16M | $2.14M | $859K | $811K | $927K | $980K | $1M | $0 | $0 | $0 |
| Selling, General, and Administrative | $13.69M | $17.37M | $21.81M | $20.43M | $26.38M | $24.64M | $22.29M | $17.2M | $12M | $11.95M | $11.4M | $9.95M | $8.29M | $6.82M | $6.08M |
| Other | -$525K | -$120K | $0 | $413K | -$2.66M | $0 | -$4.79M | $0 | $0 | $0 | $0 | $0 | $16K | $0 | $0 |
| Total Operating Expenses | $14.19M | $18.92M | $24.12M | $22.94M | $26.62M | $26.8M | $19.63M | $18.06M | $12.81M | $12.87M | $12.38M | $10.95M | $8.3M | $6.82M | $6.08M |
| Operating Income (EBIT) | -$12.92M | -$10.21M | -$11.77M | -$7.65M | -$7.71M | -$4.67M | -$3.81M | -$3.51M | -$7.08M | -$1.43M | $3.81M | $5.4M | $6.91M | $3.55M | $6.13M |
| Operating Margin | -73.7% | -42.6% | -31.6% | -17.6% | -15.5% | -9.4% | -9.5% | -14.0% | -43.1% | -6.1% | 12.6% | 17.5% | 25.0% | 16.1% | 26.8% |
| Interest Expense | $1.97M | $2.17M | $3.03M | $9.13M | $9.53M | $6.57M | $3.5M | $1.15M | $34K | $6K | $58K | $3K | $7K | $65K | $7K |
| Interest Income | $125K | $130K | $166K | $187K | $153K | $216K | $428K | $418K | $220K | $495K | $158K | $78K | $19K | $39K | $132K |
| Other Income (Expense) | -$36.47M | -$4.98M | -$2.79M | -$1.49M | $1.36M | -$8.44M | -$4.45M | -$2.75M | $512K | $120K | $500K | -$160K | -$4K | $899K | -$17K |
| Income Before Tax (EBT) | -$49.4M | -$15.19M | -$14.57M | -$9.14M | -$6.34M | -$13.11M | -$8.29M | -$6.26M | -$6.56M | -$1.31M | $4.31M | $5.24M | $6.91M | $4.45M | $6.12M |
| Income Tax Expense | -$2.92M | -$992K | -$265K | -$296K | $160K | -$880K | $77K | -$268K | $796K | $74K | $1.46M | $1.46M | $2.1M | $1.14M | $1.74M |
| Net Income | -$46.47M | -$14.2M | -$14.43M | -$8.88M | -$6.83M | -$11.69M | -$7.28M | -$4.59M | -$7.31M | -$1.19M | $3M | $3.57M | $4.83M | $3.31M | $4.38M |
| Net Income Margin | -265.1% | -59.3% | -38.8% | -20.4% | -13.7% | -23.6% | -18.2% | -18.3% | -44.5% | -5.1% | 9.9% | 11.6% | 17.5% | 15.0% | 19.1% |
| Supplementary Data | |||||||||||||||
| EPS | -0.55 | -0.57 | -0.15 | -0.12 | -0.11 | -0.19 | -0.13 | -0.09 | -0.14 | -0.02 | 0.06 | 0.08 | 0.13 | 0.17 | 0.25 |
| Diluted EPS | -0.55 | -0.57 | -0.15 | -0.12 | -0.11 | -0.20 | -0.13 | -0.08 | -0.14 | -0.02 | 0.06 | 0.08 | 0.13 | 0.17 | 0.25 |
| Weighted Average OS | 667.80M | 194.13M | 763.15M | 572.59M | 487.83M | 472.36M | 443.80M | 423.99M | 411.79M | 407.19M | 385.64M | 346.55M | 286.97M | 142.61M | 142.61M |
| EBITDA | -$6.68M | -$6.72M | -$4.79M | $3.81M | $2.11M | $2.14M | $713K | -$3.84M | -$5.82M | -$809K | $4M | $6.38M | $7.35M | $4.97M | $6.49M |
| EBITDA Margin | -38.1% | -28.1% | -12.9% | 8.7% | 4.2% | 4.3% | 1.8% | -15.3% | -35.5% | -3.5% | 13.2% | 20.7% | 26.6% | 22.6% | 28.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Assets | |||||||||||||||
| Current Assets | |||||||||||||||
| Cash and Cash Equivalents | $3.48M | $1.97M | $3.47M | $4.01M | $4.01M | $5.6M | $6.87M | $10.96M | $14.33M | $8.93M | $12.09M | $15.49M | $8.2M | $3.55M | $6.5M |
| Short-Term Investments | $4K | $3K | $3K | $4K | $1.16M | $1.67M | $152K | $525K | $711K | $1.76M | $5.27M | $432K | $393K | $0 | $0 |
| Cash and Short-Term Investments | $3.48M | $1.97M | $3.47M | $4.02M | $4.01M | $6.48M | $7.02M | $12.15M | $15.04M | $10.7M | $17.35M | $15.92M | $8.6M | $3.55M | $6.5M |
| Accounts Receivable | $6.31M | $30.71M | $22.68M | $17.08M | $21.35M | $14.96M | $19.82M | $11.06M | $10.65M | $14.59M | $15.47M | $15.17M | $14.93M | $11.78M | $8.55M |
| Inventory | $588K | $703K | $1.75M | $2.15M | $4.82M | $3.61M | $3.11M | $170K | $95K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $22.3M | $68K | $3.53M | $2.47M | $3.82M | $4.01M | $5.76M | $542K | $2.39M | $21K | $2.52M | $392K | -$393K | $0 | $0 |
| Total Current Assets | $32.67M | $33.45M | $31.42M | $29.97M | $39.07M | $33.46M | $36.02M | $24.81M | $28.85M | $25.65M | $37.77M | $31.9M | $24.2M | $15.76M | $15.44M |
| Long-Term Assets | |||||||||||||||
| Property, Plant & Equipment Net | $8.77M | $3.31M | $3.66M | $4.92M | $9.51M | $11.79M | $11.78M | $2.16M | $1.38M | $654K | $717K | $743K | $760K | $879K | $847K |
| Goodwill | $0 | $12.99M | $12.99M | $12.99M | $12.99M | $12.99M | $13.39M | $691K | $920K | $397K | $397K | $397K | $0 | $0 | $0 |
| Intangible Assets | $25.28M | $52.06M | $58.76M | $78.27M | $90.57M | $94.49M | $98.25M | $4.59M | $6.25M | $507K | $708K | $514K | $197K | $202K | $184K |
| Long-Term Investments | $7K | $6K | $106K | $41K | $234K | $266K | $265K | $686K | $1.47M | $1.42M | $910K | $1.11M | $448K | $0 | $0 |
| Deferred Tax Assets | $2.3M | $708K | $413K | $625K | $423K | $315K | $24K | $40K | $5K | $899K | $674K | $546K | $508K | $308K | $230K |
| Other Long-Term Assets | $41K | $644K | $657K | -$12.78M | -$12.98M | -$12.56M | -$12.95M | -$40K | -$5K | -$899K | -$674K | -$1.65M | -$957K | $20K | $24K |
| Total Long-Term Assets | $36.39M | $69.72M | $76.59M | $84.08M | $100.76M | $107.3M | $110.77M | $8.13M | $10.01M | $2.98M | $2.73M | $1.65M | $957K | $1.41M | $1.29M |
| Other Assets | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $7.11M | $544K | $1.25M | $787K | $835K | $678K | $0 | $0 |
| Total Assets | $69.07M | $103.17M | $108.01M | $114.05M | $139.83M | $140.76M | $146.79M | $40.05M | $39.41M | $29.88M | $41.29M | $34.39M | $25.84M | $17.17M | $16.72M |
| Liabilities | |||||||||||||||
| Current Liabilities | |||||||||||||||
| Accounts Payable | $3.43M | $6.56M | $2.96M | $1.71M | $1.13M | $2.06M | $2.84M | $1.39M | $942K | $650K | $462K | $365K | $144K | $268K | $96K |
| Short-Term Debt | $26.96M | $16.67M | $17.85M | $18.49M | $21.65M | $21.96M | $12.1M | $8.54M | $0 | $0 | $3.87M | $0 | $23K | $23K | $21K |
| Current Income Tax Payable | $0 | $4.24M | $4.22M | $4.32M | $5.07M | $4.38M | $4.01M | $3.29M | $3.33M | $3.33M | $3.83M | $3.69M | $2.91M | $9.82M | $7.06M |
| Current Unearned Revenue | $4.57M | $5.59M | $630K | $4.77M | $5.77M | $5.89M | $7.45M | $4.08M | $0 | $1.71M | $2.21M | $3.94M | -$23K | $0 | $0 |
| Other Current Liabilities | $16.34M | $1.69M | $15.87M | -$124K | $15.28M | $7.53M | $6.95M | $6.26M | $9.75M | $0 | $7.44M | $5.1M | $13.65M | $7.47M | $9.02M |
| Total Current Liabilities | $55.95M | $46.78M | $40.81M | $36.74M | $47.66M | $40.4M | $32.25M | $20.85M | $11.47M | $7.56M | $14.29M | $10.18M | $14.4M | $9.03M | $10.04M |
| Long-Term Liabilities | |||||||||||||||
| Long-Term Debt | $0 | $10.92M | $9.37M | $17.84M | $38.23M | $47.72M | $53.81M | $5.16M | $8.09M | $0 | $0 | $0 | $38K | $61K | $84K |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $6.31M | $7.8M | $8.81M | $9.95M | $11.78M | $12.2M | $13.22M | $1.23M | $1.72M | $418K | $585K | $280K | $444K | $244K | $228K |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $11.03M | $11.03M | $11.03M | $0 | $45K | $82K | $52K | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $7.85M | $20.65M | $20.08M | $30.17M | $67.82M | $78.88M | $86.35M | $6.4M | $9.86M | $500K | $675K | $280K | $482K | $305K | $312K |
| Other Liabilities | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $63.8M | $67.43M | $60.89M | $66.9M | $115.48M | $119.28M | $118.6M | $27.25M | $21.33M | $8.06M | $14.97M | $10.46M | $14.89M | $9.33M | $10.36M |
| Stockholders' Equity | |||||||||||||||
| Preferred Stock | $412K | $413K | $413K | $413K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $6M | $1.5M | $1.14M | $871K | $649K | $615K | $615K | $554K | $538K | $535K | $535K | $510K | $0 | $0 | $0 |
| Retained Earnings | -$118.2M | -$70.49M | -$56.28M | -$43.58M | -$32.98M | -$27.52M | -$15.83M | -$7.21M | -$1.98M | $3.96M | $8.6M | $9.45M | $10.34M | $390K | $393K |
| Comprehensive Income & Other | $990K | $91K | $2.11M | $4.98M | $11.23M | $5.1M | -$320K | -$963K | -$19K | $709K | $1.15M | $593K | $583K | $7.44M | $5.97M |
| Other Stockholders' Equity | $116.22M | $104.73M | $102.26M | $91.22M | $57.48M | $48.77M | $43.34M | $18.34M | $17.02M | $17.32M | $17.11M | $13.74M | $583K | $7.44M | $5.97M |
| Total Equity | $4.02M | $35.74M | $47.12M | $48.51M | $25.15M | $21.86M | $28.13M | $11.68M | $15.57M | $21.82M | $26.25M | $23.71M | $10.93M | $7.83M | $6.37M |
| Minority Interest | $1.25M | $127 | -$6K | -$1.37M | -$802K | -$381K | $58K | $1.12M | $2.51M | -$1K | $69K | $227K | $24K | $0 | $0 |
| Total Liabilities and Equity | $67.82M | $103.17M | $108.02M | $115.42M | $140.63M | $141.14M | $146.73M | $38.93M | $36.9M | $29.88M | $41.22M | $34.16M | $25.81M | $17.17M | $16.72M |
| Supplementary Data | |||||||||||||||
| Total Debt | $28.5M | $30.08M | $29.72M | $39.36M | $67.68M | $79.04M | $75.95M | $13.7M | $8.09M | $0 | $3.94M | $0 | $61K | $84K | $104K |
| Net Debt | $25.03M | $28.11M | $26.26M | $35.35M | $63.67M | $73.44M | $69.08M | $2.74M | -$6.24M | -$8.93M | -$8.14M | -$15.49M | -$8.14M | -$3.47M | -$6.4M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Operating Activities | |||||||||||||||
| Net Income | -$46.47M | -$14.2M | -$14.43M | -$8.88M | -$6.83M | -$11.69M | -$7.28M | -$4.59M | -$7.31M | -$1.19M | $3M | $3.57M | $4.83M | $3.31M | $4.38M |
| Depreciation & Amortization | $6.24M | $6.3M | $6.75M | $7.64M | $8.53M | $8.62M | $5.48M | $1.27M | $706K | $497K | $595K | $385K | $433K | $455K | $368K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$978K | $0 | $0 | $0 | $0 | $406K | $1.93M | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $1.79M | $2.09M | $0 | $1.79M | $0 | $0 | $0 | $4K | $475K | $484K | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||
| Accounts Receivable | $14.02M | -$6.16M | -$8.87M | $644K | -$7.09M | $2.88M | -$4.01M | -$2.23M | $1.53M | -$1.91M | -$2.42M | -$1.19M | -$3.73M | -$977K | -$869K |
| Inventory | $132K | $1.02M | $378K | $2.35M | -$1.09M | -$284K | $23K | -$167K | -$72K | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | -$3.24M | $479K | $1.34M | $697K | -$964K | -$910K | -$4.99M | $491K | $105K | -$131K | -$1.45M | $220K | -$121K | $85K | -$182K |
| Other Working Capital | -$10.96M | $1.35M | $3.37M | $897K | $1.99M | -$5.35M | $3.56M | -$491K | $611K | -$1.81M | $924K | -$220K | $121K | -$2.07M | $3.19M |
| Total Working Capital Change | -$51K | -$3.79M | -$3.78M | $4.58M | -$7.15M | -$3.67M | -$5.42M | -$2.4M | $2.92M | -$3.86M | -$2.94M | -$1.19M | -$3.73M | -$2.96M | $2.14M |
| Other Non-Cash Items | $37.44M | $9.23M | $7.94M | $2.05M | $878K | $7.15M | $4.3M | $4.55M | $3.94M | $1.82M | -$150K | -$342K | $3.56M | -$730K | -$247K |
| Net Cash from Operating | -$2.84M | -$677K | -$1.42M | $5.4M | -$3.75M | $412K | -$2.91M | -$1.17M | $261K | -$1.85M | $2.92M | $2.42M | $5.09M | $73K | $6.63M |
| Investing Activities | |||||||||||||||
| Capital Expenditures | -$5.25M | -$19K | -$148K | -$105K | -$224K | -$1.95M | -$721K | -$2.13M | -$390K | -$260K | -$336K | -$338K | -$251K | -$354K | -$669K |
| Acquisitions | $56K | $0 | $0 | $35K | $5K | $123K | -$9.39M | -$6.31M | -$3.77M | -$426K | -$1.08M | $12K | $0 | -$813K | $58K |
| Purchases of Investments | -$5.78M | -$528K | -$353K | -$2.18M | -$2.1M | -$2.05M | -$8.92M | -$8.15M | -$10.86M | -$4.37M | -$3.04M | $0 | $0 | $0 | $0 |
| Sales of Investments | $4.27M | $0 | $0 | $1.95M | $2.56M | $2.49M | $7.96M | $9.24M | $10.54M | $7.49M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$54K | -$824K | $1.69M | -$11.03M | -$77K | -$176K | -$1.39M | -$385K | $174K | -$261K | -$1.28M | -$167K | -$52K | $0 | $0 |
| Net Cash from Investing | -$6.75M | -$843K | $1.54M | -$11.32M | $170K | -$1.56M | -$12.46M | -$7.73M | -$4.31M | $2.18M | -$5.74M | -$493K | -$304K | -$1.17M | -$610K |
| Financing Activities | |||||||||||||||
| Debt Repaid | $1.17M | $809K | -$174K | $4.73M | -$4.02M | $1.61M | -$12.64M | -$6M | -$8.09M | $77K | -$3.81M | $61K | $18K | $17K | -$85K |
| Common Stock Issuance | $11.07M | $0 | $0 | $10.95M | $0 | $0 | $0 | $1.27M | $1.04M | $0 | $2.68M | $15.3M | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | -$176K | -$338K | $0 | -$606K | -$14K | -$2.07M | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$8K | -$2.89M | -$2.51M | -$4.46M | -$1.93M | -$1.84M | -$4.11M |
| Other Financing Activities | -$612K | $859K | -$717K | -$1.45M | -$931K | $669K | -$2.42M | $105K | $13K | $524K | $2.57M | -$3.35M | $33K | $0 | $0 |
| Net Cash from Financing | $12.03M | $51K | -$543K | $6.68M | $2.37M | -$937K | $10.04M | $5.76M | $9.14M | -$3.05M | -$3K | $5.36M | $382 | -$1.85M | -$4.03M |
| Forex Effect | -$941K | -$27K | -$125K | -$601K | $256K | $23K | -$109K | -$277K | $356K | -$422K | -$586K | -$1K | -$135K | $14K | $4.5M |
| Net Change in Cash | $1.49M | -$1.5M | -$546K | $157K | -$952K | -$2.06M | -$4.09M | -$3.42M | $5.44M | -$3.15M | -$3.41M | $7.29M | $4.65M | -$2.93M | $6.5M |
| Supplementary Data | |||||||||||||||
| Operating Cash Flow | -$2.84M | -$677K | -$1.42M | $5.4M | -$3.75M | $412K | -$2.91M | -$1.17M | $261K | -$1.85M | $2.92M | $2.42M | $5.09M | $73K | $6.63M |
| Capital Expenditure | -$5.21M | -$19K | -$94K | -$105K | -$224K | -$1.95M | -$721K | -$2.13M | -$390K | -$260K | -$336K | -$338K | -$251K | -$291K | -$562K |
| Free Cash Flow | -$8.05M | -$697K | -$1.52M | $5.3M | -$3.97M | -$1.54M | -$3.64M | -$3.3M | -$129K | -$2.11M | $2.58M | $2.08M | $4.84M | -$218K | $6.07M |
| Cash at Beginning | $1.98M | $3.47M | $4.01M | $4.01M | $5.6M | $6.87M | $10.96M | $14.38M | $8.93M | $12.09M | $15.49M | $8.2M | $3.55M | $6.48M | $0 |
| Cash at End | $3.48M | $1.97M | $3.47M | $4.01M | $4.01M | $5.6M | $6.87M | $10.96M | $14.38M | $8.93M | $12.09M | $15.49M | $8.2M | $3.55M | $6.5M |