IVD Medical Holding Limited (HK:1931)
:1931
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IVD Medical Holding Limited
(1931)
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Rating:66Neutral
Price Target:
HK$1.50
▼(-61.04% Downside)
Action:ReiteratedDate:02/04/26
The score is primarily supported by strong financial performance (profitability, revenue growth, and low leverage), but is held back by weak cash-flow momentum and very bearish technicals (price below key moving averages with negative MACD). Valuation is reasonable on P/E, providing some offset.
Positive Factors
Revenue Growth
Consistent revenue expansion demonstrates durable market traction for IVD products and supports recurring consumable sales and service revenue. Over the next 2–6 months sustained top-line growth helps absorb fixed costs, funds product development, and strengthens negotiating power with distributors and hospitals.
Negative Factors
Declining Free Cash Flow
Significant FCF decline and weak operating cash conversion suggest earnings are not fully translating into cash. Over months this can constrain capital allocations for maintenance, growth, or dividend funding, increasing reliance on external financing despite a strong balance sheet.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent revenue expansion demonstrates durable market traction for IVD products and supports recurring consumable sales and service revenue. Over the next 2–6 months sustained top-line growth helps absorb fixed costs, funds product development, and strengthens negotiating power with distributors and hospitals.
Read all positive factors
IVD Medical Holding Limited (1931) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.82B
Dividend Yield3.81%
Average Volume (3M)1.48M
Price to Earnings (P/E)20.8
Beta (1Y)0.43
Revenue Growth0.33%
EPS Growth-44.28%
CountryHK
Employees863
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,621,488,000
10 Day Avg. Volume1,443,300
30 Day Avg. Volume1,483,483
Financial Highlights & Ratios
PEG Ratio-1.75
Price to Book (P/B)0.68
Price to Sales (P/S)0.80
P/FCF Ratio28.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
IVD Medical Holding Limited Business Overview & Revenue Model
Company Description
IVD Medical Holding Limited, an investment holding company, distributes In vitro diagnostic (IVD) products in Mainland China and internationally. The company operates through three segments: Distribution Business, Maintenance Services, and Self-br...
How the Company Makes Money
IVD Medical Holding Limited generates revenue primarily through the sale of its IVD products, which include diagnostic reagents and testing instruments. The company has established key revenue streams through direct sales to healthcare institution...
IVD Medical Holding Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.08B | 3.16B | 3.09B | 2.75B | 2.73B | 2.43B |
| Gross Profit | 706.08M | 751.17M | 671.70M | 608.14M | 566.27M | 476.17M |
| EBITDA | 401.57M | 475.96M | 397.93M | 349.66M | 286.17M | 250.04M |
| Net Income | 174.25M | 260.42M | 238.16M | 210.00M | 174.54M | 158.72M |
Balance Sheet | ||||||
| Total Assets | 6.16B | 5.52B | 4.79B | 4.31B | 4.37B | 3.91B |
| Cash, Cash Equivalents and Short-Term Investments | 427.55M | 1.86B | 1.24B | 1.04B | 841.78M | 794.74M |
| Total Debt | 1.67B | 755.97M | 344.32M | 349.92M | 427.65M | 421.80M |
| Total Liabilities | 2.63B | 1.76B | 1.40B | 1.16B | 1.37B | 1.05B |
| Stockholders Equity | 3.47B | 3.71B | 3.34B | 3.15B | 2.98B | 2.85B |
Cash Flow | ||||||
| Free Cash Flow | 99.21M | 88.69M | 251.92M | 215.39M | 137.88M | 144.87M |
| Operating Cash Flow | 136.55M | 140.29M | 292.42M | 249.67M | 163.11M | 170.49M |
| Investing Cash Flow | -2.00M | -57.80M | -77.58M | 60.54M | -27.88M | -196.00M |
| Financing Cash Flow | -18.46M | 395.13M | -19.45M | -191.29M | -66.29M | -63.24M |
IVD Medical Holding Limited Technical Analysis
Negative
3.85
Price Trends
1.30
Negative
2.88
Negative
4.85
Negative
Market Momentum
-0.08
Negative
40.14
Neutral
62.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1931, the sentiment is Negative. The current price of 3.85 is above the 20-day moving average (MA) of 1.15, above the 50-day MA of 1.30, and below the 200-day MA of 4.85, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 40.14 is Neutral, neither overbought nor oversold. The STOCH value of 62.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1931.
IVD Medical Holding Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$6.36B | 19.61 | 6.83% | 2.72% | 29.81% | 10.40% | |
70 Outperform | HK$65.28B | 3.75 | 8.62% | 3.75% | -2.68% | -21.45% | |
67 Neutral | HK$66.03B | 6.62 | 7.64% | 2.67% | 2.77% | 39.24% | |
66 Neutral | HK$1.82B | 20.84 | 4.85% | 3.81% | 0.33% | -44.28% | |
60 Neutral | HK$627.48M | 7.99 | 7.98% | 8.03% | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
40 Underperform | HK$463.27M | -0.61 | -66.54% | ― | -43.86% | -217.25% |
* Healthcare Sector Average
HK:1931
IVD Medical Holding Limited
1.12
-0.58
-34.12%
HK:2607
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22.93%
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0.72
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-27.27%
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Medlive Technology Co., Ltd.
8.61
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-16.97%
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-18.40%
IVD Medical Holding Limited Corporate Events
ETHK Labs Subsidiary Unveils AI-Driven Dual-Platform Nipah Virus Detection Solution
Jan 27, 2026
ETHK Labs Inc. has announced that its subsidiary Shenzhen ICXIVD Biotechnology has successfully developed a dual-platform solution for Nipah virus detection, addressing an urgent global need for rapid, accurate diagnostics amid a recent Nipah outb...
ETHK Labs Rebrands with New English Name and Stock Short Name in Hong Kong
Jan 26, 2026
ETHK Labs Inc. has formally changed its English corporate name from IVD Medical Holding Limited to ETHK Labs Inc., while retaining its existing Chinese name, following shareholder approval at an extraordinary general meeting and subsequent regulat...
ETHK Labs Overhauls Board, Committees and Company Secretary After Senior Resignations
Jan 13, 2026
ETHK Labs Inc. has announced substantial changes to its leadership and governance structure effective 13 January 2026, with the resignation of executive directors Mr. Law Kim Fai and Ms. Tai Yang, and independent non-executive director Mr. Wong Sz...
ETHK Labs Sets Out Board Composition and Key Committee Roles
Jan 13, 2026
ETHK Labs Inc. has announced the current composition of its board of directors and the allocation of roles across key board committees, formalizing its governance framework for investors and stakeholders. The board consists of two executive direct...
IVD Medical Approves Name Change in Strategic Move
Nov 26, 2025
IVD Medical Holding Limited announced that during its extraordinary general meeting held on November 26, 2025, a special resolution to change the company’s English name was passed with unanimous support. This decision reflects a strategic mo...
IVD Medical Acquires Significant Stake in B-Soft Co., Ltd
Nov 16, 2025
IVD Medical Holding Limited has announced its acquisition of a significant stake in B-Soft Co., Ltd, a move that positions the company to hold approximately 12.64% of the voting rights in B-Soft. This strategic acquisition, valued at RMB500 millio...
IVD Medical in Talks for Potential Acquisition of B-Soft Co., Ltd.
Nov 10, 2025
IVD Medical Holding Limited has announced that it is in discussions to potentially acquire control over B-Soft Co., Ltd., a company listed on the ChiNext Board of the Shenzhen Stock Exchange. The transaction, if completed, could significantly impa...
IVD Medical Holding Limited Proposes Name Change to ETHK Labs Inc.
Nov 4, 2025
IVD Medical Holding Limited has announced an extraordinary general meeting scheduled for November 26, 2025, to consider a special resolution for changing its English name to ETHK Labs Inc. This change, pending approval from the Cayman Islands Regi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.