GOLDEN HEAVEN GROUP HOLDINGS LTD.
GDHG · Services-Miscellaneous Amusement & Recreation · EDGAR filings ↗
Grade
D48Chinese amusement-park operator turned lessor with a loss year, collapsing revenue and active securities-fraud litigation.
Strengths
- Large cash balance ($86M) and very strong liquidity (current/quick ratio ~25x, 96th-100th pct)
- Lessor transition produced a 100th-pct OCF margin and high-margin rental income
Risks
- Revenue down 31.5% (12th pct) with net margin -56% and operating margin -44%; net loss $8.6M
- Multiple 10b-5 securities class actions and significant PRC governance/regulatory risk
Notable findings
- Net lossNet loss (net margin -56.2%)
- Revenue declineRevenue -31.5% YoY
Key metrics
Gross margin
50.2%
Operating margin
-44.5%
Net margin
-56.2%
Return on equity
-4.8%
Return on assets
-4.5%
Revenue growth (QoQ)
-31.5%
Current ratio
25.0×
EBITDA
-$4M
Tangible book value
$181M
Cash & investments
$86M
Stock comp / revenue
61.2%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-01-21 | 2025-09-30 | 0001213900-26-005908 ↗ |
| 20-F | 2025-01-27 | 2024-09-30 | 0001213900-25-006978 ↗ |
| 20-F | 2024-02-15 | 2023-09-30 | 0001213900-24-014627 ↗ |