Addentax Group
ATXG on Nasdaq. Market value $4m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 2 funds in all.
Largest holders overall
- Citadel Advisors$65,984New
- UBS Group AG$209Cut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
8 investors own more than 5%.
- Hong ZhihaoPassive investor11.9%Since 19 August 2026
- Pinnacle Partners Inc.Passive investor11.9%Since 19 August 2026
- HONG ZHIWANGInsider or founder10.7%Since 19 August 2026
What they said
On August 18, 2026, the issuer issued 218,750 shares of common stock to the reporting person in connection with a private placement pursuant to the Private Placement Agreement, dated July 30, 2026. Except as set forth herein, the reporting person does not currently have any…
Read the filing - Yip Wai LunPassive investor9.9%Since 22 September 2026
- Ayrton Capital LLCPassive investorat least 9.9%(filed with 2 related holders)Since 31 December 2024
- WU RUIInsider or founder9.7%+2.0 ptsSince 15 June 2026
What they said
The 66,667 shares previously reported were acquired by the reporting person pursuant to the issuer's equity incentive plan as compensation for services rendered to the issuer. The 33,500 additional shares reported in this Amendment No. 1 were issued to the reporting person on…
Read the filing - Seah Chia YeePassive investor7.0%−3.3 ptsSince 19 August 2026
- OR SHAN SHAN6.6%−7.3 ptsSince 20 August 2026
| Holder | Stake | Since | |
|---|---|---|---|
Hong Zhihao Passive investor | 11.9% | 19 August 2026 | |
Pinnacle Partners Inc. Passive investor | 11.9% | 19 August 2026 | |
HONG ZHIWANG Insider or founder | 10.7% | 19 August 2026 | What they saidOn August 18, 2026, the issuer issued 218,750 shares of common stock to the reporting person in connection with a private placement pursuant to the Private Placement Agreement, dated July 30, 2026. Except as set forth herein, the reporting person does not currently have any… Read the filing |
Yip Wai Lun Passive investor | 9.9% | 22 September 2026 | |
Ayrton Capital LLC Passive investor | at least 9.9% (filed with 2 related holders) | 31 December 2024 | |
WU RUI Insider or founder | 9.7%+2.0 pts | 15 June 2026 | What they saidThe 66,667 shares previously reported were acquired by the reporting person pursuant to the issuer's equity incentive plan as compensation for services rendered to the issuer. The 33,500 additional shares reported in this Amendment No. 1 were issued to the reporting person on… Read the filing |
Seah Chia Yee Passive investor | 7.0%−3.3 pts | 19 August 2026 | |
OR SHAN SHAN | 6.6%−7.3 pts | 20 August 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $1m of shares on the open market.
- HONG ZHIWANGDirectorBought
- Date
- 18 August 2026
- Shares
- 218,750
- Price
- $4.80
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 18 August 2026 | HONG ZHIWANG Director | Bought | 218,750 | $4.80 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
1 serious warning sign in Addentax Group’s filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 29 Jun 2026, plus the 10-Q filed 14 Aug 2026 and 5 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“The Company has a history of net losses and operating losses and has used cash in operating activities, which have raised substantial doubt about its ability to continue as a going concern.”
Show the full paragraph
The Company has a history of net losses and operating losses and has used cash in operating activities, which have raised substantial doubt about its ability to continue as a going concern. During the three months ended June 30, 2026, the Company reported net income, primarily as a result of a non-cash fair value gain on derivative liabilities; however, the Company continued to incur a loss from operations and negative cash flows from operating activities.
From the 10-Q filed 14 August 2026, Part I, Item 2. Management's Discussion and Analysis. Read it in the filing
Changed auditor
Worth knowingThe company changed its auditor (the firm that checks its books) in the last two years.
“On March 25, 2026 (the “Effective Date”), Addentax Group Corp. (the “Company”) dismissed Pan-China Singapore PAC (“PCS”) as the Company’s independent registered public accounting firm and appointed HML PLT as the Company’s independent registered public accounting firm for the fiscal year ending March 31, 2026.”
From an 8-K filed 25 March 2026: Change of auditor. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.