Lepu Biopharma Co. Ltd. Class H (HK:2157)
:2157
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Lepu Biopharma Co. Ltd. Class H
(2157)
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Rating:51Neutral
Price Target:
HK$5.50
▲(10.44% Upside)
Action:UpgradedDate:04/25/26
The score is held back primarily by weak cash-flow conversion (negative operating and free cash flow) despite reported 2025 profitability, which elevates financing and sustainability risk. A strong 2025 revenue/profit inflection and high gross margins are positives, but valuation (P/E ~30.8) is not especially supportive, and technical indicators are mixed with no clear momentum trend.
Positive Factors
High gross margins
Very high gross margins (~80%+) indicate attractive unit economics for core products and strong pricing power. This margin profile can sustainably cover R&D and commercialization costs as sales scale, improving long-term cash generation potential if revenue growth persists.
Negative Factors
Negative cash flow
Operating and free cash flow remained negative in 2025 despite reported accounting profitability, implying weak cash conversion from operations. Persistent negative cash flow raises funding risk for ongoing R&D and commercialization, likely necessitating external financing or asset monetization.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Very high gross margins (~80%+) indicate attractive unit economics for core products and strong pricing power. This margin profile can sustainably cover R&D and commercialization costs as sales scale, improving long-term cash generation potential if revenue growth persists.
Read all positive factors
Lepu Biopharma Co. Ltd. Class H (2157) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$10.16B
Dividend YieldN/A
Average Volume (3M)13.90M
Price to Earnings (P/E)30.8
Beta (1Y)0.99
Revenue Growth154.21%
EPS GrowthN/A
CountryHK
Employees498
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.14
Shares Outstanding1,804,439,800
10 Day Avg. Volume11,565,494
30 Day Avg. Volume13,902,953
Financial Highlights & Ratios
PEG Ratio-0.19
Price to Book (P/B)5.65
Price to Sales (P/S)8.60
P/FCF Ratio-94.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$8.10Price Target Upside62.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.04
Revenue Forecast (FY)HK$1.20B
Lepu Biopharma Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Lepu Biopharma Co., Ltd., a biopharmaceutical company, focuses on developing oncology therapeutics with a pipeline designed with a range of oncology products in China. The company develops oncology drug candidates, including antibody-drug conjugat...
How the Company Makes Money
The company makes money primarily through (1) product sales of any commercialized drugs and related pharmaceutical products (where revenue is recognized from distribution to hospitals, pharmacies, or other medical channels, depending on the produc...
Lepu Biopharma Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
55
Neutral
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 910.67M | 367.79M | 225.35M | 15.57M | 0.00 |
| Gross Profit | 732.10M | 292.97M | 197.07M | 13.57M | 0.00 |
| EBITDA | 178.73M | -311.94M | 86.95M | -596.53M | -865.23M |
| Net Income | 254.60M | -411.38M | -22.10M | -689.05M | -1.01B |
Balance Sheet | |||||
| Total Assets | 3.10B | 2.28B | 2.38B | 2.53B | 2.08B |
| Cash, Cash Equivalents and Short-Term Investments | 959.17M | 464.91M | 489.64M | 678.20M | 205.17M |
| Total Debt | 1.06B | 850.16M | 746.82M | 690.30M | 335.26M |
| Total Liabilities | 1.72B | 1.60B | 1.50B | 1.63B | 1.23B |
| Stockholders Equity | 1.39B | 702.83M | 896.90M | 900.76M | 836.71M |
Cash Flow | |||||
| Free Cash Flow | -82.80M | -258.14M | -292.04M | -591.38M | -835.12M |
| Operating Cash Flow | -38.56M | -196.39M | -250.84M | -480.93M | -621.74M |
| Investing Cash Flow | -149.19M | -61.75M | 18.26M | -74.66M | -3.89M |
| Financing Cash Flow | 620.94M | 232.08M | -11.01M | 1.03B | 380.31M |
Lepu Biopharma Co. Ltd. Class H Technical Analysis
Positive
4.98
Price Trends
5.00
Positive
5.21
Positive
6.29
Positive
Market Momentum
0.37
Negative
67.53
Neutral
87.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2157, the sentiment is Positive. The current price of 4.98 is below the 20-day moving average (MA) of 5.59, below the 50-day MA of 5.00, and below the 200-day MA of 6.29, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 67.53 is Neutral, neither overbought nor oversold. The STOCH value of 87.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2157.
Lepu Biopharma Co. Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$24.51B | 73.24 | 8.62% | ― | 40.78% | 410.73% | |
58 Neutral | HK$14.28B | -86.94 | -11.81% | ― | 219.26% | 87.63% | |
54 Neutral | HK$20.32B | -9.33 | -12.74% | ― | 57.92% | -23.76% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$10.16B | 30.77 | 24.17% | ― | 154.21% | ― | |
41 Neutral | HK$4.13B | -10.14 | -32.79% | ― | 109.02% | 36.95% | |
41 Neutral | HK$21.34B | -25.84 | -17.26% | ― | 66.66% | 7.19% |
* Healthcare Sector Average
HK:2157
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Lepu Biopharma Co. Ltd. Class H Corporate Events
Lepu Biopharma Swings to Profit as ADC Pipeline and Licensing Deals Gain Traction
Mar 25, 2026
Lepu Biopharma reported a sharp rise in 2025 revenue to about RMB934.9 million, driven by robust domestic sales of PUYOUHENG and MEIYOUHENG and substantial licensing income, notably from MRG007 and TCE assets. The company posted its first annual p...
Lepu Biopharma Sets March 25 Board Meeting to Approve 2025 Annual Results
Mar 11, 2026
Lepu Biopharma Co., Ltd. has scheduled a board meeting for March 25, 2026 to review and approve the annual results of the company and its subsidiaries for the financial year ended December 31, 2025, and to authorize their publication. The board wi...
Lepu Biopharma Signals 2025 Profit on Strong Oncology Sales and Licensing Gains
Mar 10, 2026
Lepu Biopharma has issued a positive profit alert, indicating it expects to post net profit attributable to shareholders of at least RMB200 million for the year ended 31 December 2025, compared with a loss of about RMB411 million in 2024. This ant...
Lepu Biopharma Gains US$45 Million Milestone as AstraZeneca Advances Claudin 18.2 ADC to Phase III
Mar 10, 2026
Lepu Biopharma has announced an update on its collaboration with AstraZeneca for CMG901, a Claudin 18.2-targeting antibody-drug conjugate also known as sonesitatug vedotin or AZD0901, licensed globally via its joint venture KYM Biosciences. AstraZ...
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.