Graphex Group Ltd (GRFXY)
Graphex Group Limited (GRFXY), headquartered in Causeway Bay, Hong Kong, was founded in 1981. The company, which rebranded from Earthasia International Holdings Limited in April 2021, structures its operations around three distinct business segments. Its primary activities revolve around the Manufacturing and Sale of Graphene Products within the People's Republic of China. In this sector, Graphex is involved in developing, producing, and marketing various forms of graphite. This includes natural spherical graphite, essential for anodes in lithium-ion batteries used in electric vehicles; high-purity graphite, employed in refractory materials, advanced coatings, and other specialized applications; and synthetic graphite. Beyond its materials science endeavors, the group also operates a Landscape Design division, offering a variety of architectural and planning services. Additionally, Graphex engages in the Catering industry, which encompasses providing catering services, interior design expertise, making direct investments in the food sector, and managing its own restaurant operations.
Sector: Electrical Industrial Apparatus
Industry: Industrial Materials
Graphex Group Limited
OTC:GRFXYBasic Materials · Industrial Materials
Mkt Cap-
Float33.63M
O/S-
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$17.51M
Net Income-$46.4M
Total Assets$69.08M
Free Cash Flow-$6.5M
Debt & Equity
Debt 87%
Equity 12%
Preferred 1%
Total Debt$28.51M
Total Equity$4.02M
Preferred Stock$412K
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in GRFXY's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$69.08M
Liabilities$63.81M
Accounts Receivable$6.31M
Accounts Payable$3.44M
Inventory$588K
PP&E (Net)$2.84M
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Revenue | $17.51M | $23.95M | $37.21M | $43.5M | $49.85M | $49.57M | $40.02M | $25.15M | $16.4M | $23.43M | $30.3M | $30.77M | $27.67M |
| YoY Growth | -26.9% | -35.7% | -14.5% | -12.7% | 0.6% | 23.9% | 59.1% | 53.3% | -30.0% | -22.7% | -1.5% | 11.2% | - |
| Cost of Revenue | $10.72M | $15.24M | $24.87M | $28.21M | $30.94M | $29.55M | $24.19M | $10.6M | $10.67M | $11.98M | $14.1M | $14.42M | $12.47M |
| Gross Profit | $6.79M | $8.71M | $12.34M | $15.29M | $18.91M | $20.02M | $15.83M | $14.55M | $5.74M | $11.44M | $16.2M | $16.35M | $15.2M |
| Gross Margin | 38.8% | 36.4% | 33.2% | 35.2% | 37.9% | 40.4% | 39.5% | 57.9% | 35.0% | 48.8% | 53.5% | 53.1% | 54.9% |
| Research and Development | $1.03M | $1.67M | $295K | $2.1M | $2.9M | $2.16M | $2.14M | $859K | $811K | $927K | $980K | $1M | $0 |
| Selling, General, and Administrative | $13.86M | $17.37M | $21.24M | $20.43M | $23.07M | $20.34M | $21.68M | $17.1M | $12M | $11.95M | $11.4M | $9.95M | $8.29M |
| Other | -$110K | -$120K | $0 | $413K | -$232K | -$49K | -$283K | -$1.22M | -$1.46M | -$341K | -$305K | $0 | $0 |
| Total Operating Expenses | $14.78M | $18.92M | $20.5M | $22.94M | $26.62M | $24.69M | $19.63M | $20.13M | $12.5M | $13.24M | $11.98M | $11.19M | $8.3M |
| Operating Income (EBIT) | -$12.9M | -$10.21M | -$14.08M | -$7.65M | -$7.71M | -$4.67M | -$3.81M | -$2.65M | -$7.73M | -$2.09M | $3.41M | $6M | $6.61M |
| Operating Margin | -73.7% | -42.6% | -37.8% | -17.6% | -15.5% | -9.4% | -9.5% | -10.5% | -47.1% | -8.9% | 11.3% | 19.5% | 23.9% |
| Interest Expense | $1.97M | $2.17M | $3.03M | $5.79M | $7.61M | $6.57M | $3.5M | $1.15M | $34K | $6K | $58K | $3K | $7K |
| Interest Income | $125K | $130K | $166K | $187K | $153K | $216K | $428K | $677K | $202K | $495K | $158K | $78K | $19K |
| Other Income (Expense) | -$36.42M | -$4.98M | -$484K | -$1.49M | $1.36M | -$6.27M | -$4.45M | -$2.75M | $512K | $120K | $500K | -$160K | -$4K |
| Income Before Tax (EBT) | -$49.32M | -$15.19M | -$14.57M | -$9.14M | -$6.34M | -$13.05M | -$8.12M | -$6.26M | -$6.56M | -$1.31M | $4.31M | $5.24M | $6.91M |
| Income Tax Expense | -$2.92M | -$992K | -$265K | -$296K | $160K | -$880K | $77K | -$268K | $796K | $74K | $1.46M | $1.46M | $2.1M |
| Net Income | -$46.4M | -$14.2M | -$14.43M | -$8.88M | -$6.83M | -$11.69M | -$7.28M | -$4.59M | -$7.31M | -$1.19M | $3M | $3.57M | $4.83M |
| 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% |
| Supplementary Data | |||||||||||||
| EPS | -10.90 | -0.57 | -0.15 | -0.12 | -0.11 | -0.19 | -0.13 | -0.09 | -0.14 | -0.02 | 0.06 | 0.08 | 0.13 |
| Diluted EPS | -10.90 | -0.57 | -0.15 | -0.12 | -0.11 | -0.19 | -0.13 | -0.08 | -0.14 | -0.02 | 0.06 | 0.08 | 0.13 |
| Weighted Average OS | 33.39M | 194.13M | 763.15M | 572.59M | 487.83M | 472.36M | 443.80M | 423.99M | 411.79M | 407.19M | 385.64M | 346.55M | 286.97M |
| EBITDA | -$6.43M | -$13.02M | -$4.81M | $3.81M | $2.11M | $2.14M | $713K | -$3.84M | -$5.82M | -$809K | $3.8M | $6.38M | $7.46M |
| EBITDA Margin | -36.7% | -54.4% | -12.9% | 8.7% | 4.2% | 4.3% | 1.8% | -15.3% | -35.5% | -3.5% | 12.5% | 20.7% | 27.0% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| 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 |
| Short-Term Investments | $4K | $3K | $3K | $4K | $1.16M | $0 | $152K | $1.19M | $2.04M | $1.76M | $5.27M | $432K | $393K |
| Cash and Short-Term Investments | $3.48M | $1.97M | $3.47M | $4.02M | $4.01M | $5.6M | $7.02M | $12.15M | $16.37M | $10.7M | $17.35M | $15.92M | $8.6M |
| Accounts Receivable | $6.31M | $30.71M | $22.68M | $17.08M | $21.35M | $19.84M | $25.58M | $11.06M | $12.87M | $14.59M | $16.4M | $15.17M | $14.29M |
| Inventory | $588K | $703K | $1.75M | $2.15M | $4.82M | $3.61M | $3.11M | $170K | $95K | $0 | $0 | $0 | $0 |
| Other Current Assets | $22.3M | $68K | $3.53M | $1.1M | $1.32M | $792K | $0 | $542K | $1.07M | $21K | $4.71M | $392K | $240K |
| Total Current Assets | $32.68M | $33.45M | $31.42M | $29.97M | $39.07M | $33.46M | $36.02M | $24.81M | $28.85M | $25.65M | $37.77M | $31.9M | $24.2M |
| Long-Term Assets | |||||||||||||
| Property, Plant & Equipment Net | $2.84M | $3.31M | $3.66M | $4.92M | $9.51M | $11.79M | $11.78M | $2.16M | $1.38M | $654K | $717K | $743K | $760K |
| Goodwill | $0 | $12.99M | $12.99M | $12.99M | $12.99M | $12.99M | $13.39M | $691K | $920K | $397K | $397K | $397K | $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 |
| Long-Term Investments | $7K | $6K | $106K | $41K | $234K | $266K | $265K | $686K | $1.47M | $1.42M | $910K | $1.11M | $448K |
| Deferred Tax Assets | $2.3M | $708K | $413K | $625K | $423K | $315K | $24K | $40K | $5K | $899K | $674K | $546K | $508K |
| Other Long-Term Assets | $5.97M | $644K | $657K | -$12.78M | -$12.98M | -$12.56M | -$12.95M | -$40K | -$5K | -$899K | -$674K | -$1.65M | -$957K |
| Total Long-Term Assets | $36.4M | $69.72M | $76.59M | $84.08M | $100.76M | $107.3M | $110.77M | $8.13M | $10.01M | $2.98M | $2.73M | $1.65M | $957K |
| Other Assets | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $7.11M | $544K | $1.25M | $787K | $835K | $678K |
| Total Assets | $69.08M | $103.17M | $108.01M | $114.05M | $139.83M | $140.76M | $146.79M | $40.05M | $39.41M | $29.88M | $41.29M | $34.39M | $25.84M |
| Liabilities | |||||||||||||
| Current Liabilities | |||||||||||||
| Accounts Payable | $3.44M | $6.56M | $2.96M | $1.71M | $1.13M | $2.06M | $2.84M | $1.39M | $942K | $650K | $462K | $365K | $144K |
| Short-Term Debt | $26.41M | $16.67M | $17.85M | $19.14M | $21.65M | $21.96M | $12.1M | $8.54M | $0 | $0 | $3.87M | $0 | $23K |
| 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 |
| Current Unearned Revenue | $4.57M | $5.59M | $0 | $4.77M | $5.77M | $5.89M | $7.45M | $4.08M | $0 | $0 | -$3.91M | $0 | -$23K |
| Other Current Liabilities | $11.99M | $1.69M | $15.87M | -$780K | $15.28M | $15.06M | $13.89M | $6.26M | $9.75M | $1.86M | $14.89M | $9.03M | $13.62M |
| Total Current Liabilities | $55.96M | $46.78M | $40.81M | $36.74M | $47.66M | $40.4M | $32.25M | $20.85M | $11.47M | $7.56M | $14.29M | $10.18M | $14.4M |
| 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 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.93M | $6.38M | $0 | -$38K | $0 | -$406K |
| 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 |
| Other Long-Term Liabilities | $1 | $0 | $8.81M | $0 | $11.03M | $11.03M | $11.03M | $0 | $45K | $82K | $52K | $0 | $0 |
| Total Long-Term Liabilities | $7.85M | $20.65M | $20.08M | $30.17M | $67.82M | $78.88M | $86.35M | $5.16M | $8.09M | $500K | $675K | $280K | $38K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.23M | $1.76M | $0 | $0 | $0 | $444K |
| Total Liabilities | $63.81M | $67.43M | $60.89M | $66.9M | $115.48M | $119.28M | $118.6M | $27.25M | $21.33M | $8.06M | $14.97M | $10.46M | $14.89M |
| Stockholders' Equity | |||||||||||||
| Preferred Stock | $412K | $413K | $413K | $413K | $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 |
| Retained Earnings | -$118.23M | -$70.49M | -$56.28M | -$43.58M | -$32.98M | -$27.52M | -$15.83M | -$7.21M | -$1.98M | $5.29M | $9.93M | $9.45M | $10.34M |
| Comprehensive Income & Other | -$2.35M | $91K | $2.11M | $4.98M | $11.23M | $5.1M | -$320K | $401K | $1.33M | $709K | $1.15M | $593K | $583K |
| Other Stockholders' Equity | $116.25M | $104.73M | $102.26M | $91.22M | $57.48M | $48.77M | $43.34M | $18.34M | $17.02M | $15.99M | $15.78M | $13.74M | $583K |
| 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 |
| Minority Interest | $1.25M | $127 | -$6K | -$1.37M | -$802K | -$381K | $58K | $1.12M | $2.51M | -$1K | $69K | $227K | $24K |
| Total Liabilities and Equity | $67.83M | $103.17M | $108.02M | $115.42M | $140.63M | $141.14M | $146.73M | $38.93M | $36.9M | $29.88M | $41.22M | $34.16M | $25.81M |
| Supplementary Data | |||||||||||||
| Total Debt | $28.51M | $30.08M | $29.72M | $39.36M | $67.68M | $79.04M | $75.95M | $13.7M | $8.09M | $0 | $3.94M | $0 | $61K |
| 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 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | 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 |
| Operating Activities | |||||||||||||
| Net Income | -$49.41M | -$14.2M | -$14.43M | -$8.88M | -$6.83M | -$11.69M | -$7.28M | -$4.59M | -$7.31M | -$1.19M | $3M | $3.57M | $4.83M |
| Depreciation & Amortization | $6.24M | $6.3M | $6.73M | $7.64M | $8.53M | $8.62M | $5.48M | $1.27M | $706K | $497K | $390K | $385K | $352K |
| Deferred Income Tax | $0 | $0 | $0 | -$1.25M | -$978K | -$2.16M | $0 | $0 | -$1.46M | $710K | $1.93M | $0 | $0 |
| Stock-Based Compensation | $2K | $1.79M | $2.09M | $0 | $1.79M | $0 | $0 | $0 | $4K | $1.2M | $484K | $0 | $0 |
| Changes in Working Capital: | |||||||||||||
| Accounts Receivable | $14.03M | -$6.16M | -$8.87M | $644K | -$7.09M | $2.88M | -$4.01M | -$2.23M | $1.53M | -$1.91M | -$2.42M | -$1.19M | -$3.73M |
| Inventory | $132K | $1.02M | $378K | $2.35M | -$1.09M | -$284K | $23K | -$167K | -$72K | $1.94M | $525K | $0 | $0 |
| Accounts Payable | -$3.24M | $3.72M | $1.34M | $697K | -$964K | -$910K | -$4.99M | $491K | $105K | $274K | $113K | $220K | -$121K |
| Other Working Capital | -$10.97M | $1.35M | $3.37M | $897K | $1.99M | -$5.35M | $3.56M | -$491K | -$105K | -$274K | -$113K | -$220K | $121K |
| Total Working Capital Change | -$51K | -$3.79M | -$3.78M | $4.58M | -$7.15M | -$3.67M | -$5.42M | -$2.4M | $1.46M | -$1.91M | -$2.42M | -$1.19M | -$3.73M |
| Other Non-Cash Items | $41.97M | $9.23M | $7.96M | $13.65M | $878K | $22.7M | $4.3M | $4.55M | $6.86M | -$1.16M | $1.46M | -$342K | $3.64M |
| Net Cash from Operating | -$1.25M | -$677K | -$1.42M | $5.4M | -$3.75M | $412K | -$2.91M | -$1.17M | $261K | -$1.85M | $2.92M | $2.42M | $5.09M |
| Investing Activities | |||||||||||||
| Capital Expenditures | -$5.21M | -$19K | -$148K | -$105K | -$224K | -$1.95M | -$721K | -$2.13M | -$390K | -$260K | -$336K | -$338K | -$251K |
| Acquisitions | $0 | $0 | $0 | $35K | $5K | $123K | -$9.39M | -$6.31M | -$3.77M | -$426K | -$1.08M | $12K | $0 |
| Purchases of Investments | $0 | $0 | $0 | -$2.18M | -$2.1M | -$2.05M | -$8.92M | -$8.15M | -$10.86M | -$4.37M | -$3.04M | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $1.95M | $2.56M | $2.49M | $7.96M | $9.24M | $10.54M | $7.49M | $4.12M | $0 | $0 |
| Other Investing Activities | -$1.34M | -$824K | $1.69M | -$11.03M | -$77K | -$176K | -$1.39M | -$385K | $174K | -$261K | -$1.28M | -$167K | -$52K |
| Net Cash from Investing | -$6.55M | -$843K | $1.54M | -$11.32M | $170K | -$1.56M | -$12.46M | -$7.73M | -$4.31M | $2.18M | -$5.74M | -$493K | -$304K |
| Financing Activities | |||||||||||||
| Debt Repaid | -$954K | $809K | -$174K | $4.73M | -$4.02M | -$2M | -$12.64M | -$6M | -$8.09M | $3.94M | -$3.81M | $61K | $18K |
| Common Stock Issuance | $11.51M | $0 | $0 | $10.95M | $0 | $0 | $0 | $1.27M | $1.04M | $0 | $2.68M | $15.3M | $0 |
| Common Stock Repurchases | -$429K | $0 | $0 | $0 | $0 | $0 | -$176K | -$338K | -$9.14M | -$606K | -$14K | -$2.07M | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$8K | -$2.89M | -$2.51M | -$4.46M | -$1.93M |
| Other Financing Activities | -$1.8M | $859K | -$717K | -$1.45M | -$931K | -$322K | -$2.42M | $105K | $1.05M | $524K | $2.57M | -$3.35M | $33K |
| Net Cash from Financing | $10.23M | $51K | -$543K | $6.68M | $2.37M | -$937K | $11.39M | $5.76M | $9.14M | -$3.05M | -$3K | $5.36M | $382 |
| Forex Effect | -$993K | -$27K | -$125K | -$601K | $256K | $23K | -$109K | -$277K | $356K | -$422K | -$586K | -$1K | -$135K |
| Net Change in Cash | $1.44M | -$1.5M | -$546K | $892 | -$1.59M | -$1.27M | -$4.09M | -$3.42M | $5.44M | -$3.15M | -$3.41M | $7.29M | $4.65M |
| Supplementary Data | |||||||||||||
| Operating Cash Flow | -$1.25M | -$677K | -$1.42M | $5.4M | -$3.75M | $412K | -$2.91M | -$1.17M | $261K | -$1.85M | $2.92M | $2.42M | $5.09M |
| Capital Expenditure | -$5.25M | -$19K | -$94K | -$105K | -$224K | -$1.95M | -$721K | -$2.13M | -$390K | -$260K | -$336K | -$338K | -$251K |
| Free Cash Flow | -$6.5M | -$697K | -$1.52M | $5.3M | -$3.97M | -$1.54M | -$3.64M | -$3.3M | -$129K | -$2.11M | $2.58M | $2.08M | $4.84M |
| Cash at Beginning | $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 |
| Cash at End | $3.41M | $1.97M | $3.47M | $4.01M | $4.01M | $5.6M | $6.87M | $10.96M | $14.38M | $8.93M | $12.09M | $15.49M | $8.2M |