Suzhou Basecare Medical Corp. Ltd. Class H (HK:2170)
:2170
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Suzhou Basecare Medical Corp. Ltd. Class H
(2170)
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Rating:45Neutral
Price Target:
HK$2.00
▲(1.52% Upside)
Action:ReiteratedDate:04/27/26
The score is primarily held back by weak financial performance—large ongoing losses and persistent cash burn, plus a 2025 revenue decline—despite a balance sheet that is not heavily levered. Technicals add modest pressure given the price sits well below the 200-day average and momentum is neutral. Valuation is also constrained by a negative P/E and no dividend yield data.
Positive Factors
Recurring consumables revenue model
Basecare's core sales mix includes single-use consumables and procedure-linked items for IVF labs, creating a recurring revenue stream tied to patient volume. This installed-base recurring demand supports predictability and resilience in revenues over a multi-month horizon, reducing reliance on one-off device sales.
Negative Factors
Persistent operating cash burn and negative free cash flow
Sustained negative operating cash flow and large negative FCF mean the business consumes cash rather than generating it, creating ongoing funding needs. Over 2-6 months this raises the risk of additional debt, equity issuance, or cutbacks to operations, constraining strategic flexibility and growth investments.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue model
Basecare's core sales mix includes single-use consumables and procedure-linked items for IVF labs, creating a recurring revenue stream tied to patient volume. This installed-base recurring demand supports predictability and resilience in revenues over a multi-month horizon, reducing reliance on one-off device sales.
Read all positive factors
Suzhou Basecare Medical Corp. Ltd. Class H (2170) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$519.70M
Dividend YieldN/A
Average Volume (3M)121.73K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth-21.90%
EPS Growth5.78%
CountryHK
Employees497
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.41
Shares Outstanding82,713,840
10 Day Avg. Volume98,950
30 Day Avg. Volume121,733
Financial Highlights & Ratios
PEG Ratio0.26
Price to Book (P/B)0.49
Price to Sales (P/S)2.01
P/FCF Ratio-1.88
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)-0.23
Revenue Forecast (FY)HK$412.00M
Suzhou Basecare Medical Corp. Ltd. Class H Business Overview & Revenue Model
Company Description
Suzhou Basecare Medical Corporation Limited, an investment holding company, engages in the research, development, manufacture, and provision of genetic testing solutions for assisted reproduction and sale of genetic testing devices and instruments...
How the Company Makes Money
The company makes money primarily by selling ART medical devices and consumables to hospitals, fertility clinics, and IVF laboratories. Its revenue model is product-based: (1) recurring revenue from consumables used per procedure and routine lab o...
Suzhou Basecare Medical Corp. Ltd. Class H Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 275.71M | 227.23M | 299.11M | 207.98M | 140.90M | 107.30M |
| Gross Profit | 131.54M | 108.78M | 136.22M | 91.35M | 59.53M | 51.15M |
| EBITDA | -226.62M | -152.37M | -253.30M | -174.14M | -117.73M | -118.88M |
| Net Income | -238.59M | -217.67M | -237.03M | -191.69M | -123.16M | -143.65M |
Balance Sheet | ||||||
| Total Assets | 1.57B | 1.45B | 1.67B | 1.90B | 1.78B | 1.80B |
| Cash, Cash Equivalents and Short-Term Investments | 545.48M | 447.34M | 684.63M | 945.71M | 1.33B | 1.52B |
| Total Debt | 342.23M | 343.51M | 328.42M | 281.92M | 75.54M | 48.57M |
| Total Liabilities | 535.35M | 512.00M | 527.47M | 499.98M | 188.33M | 85.85M |
| Stockholders Equity | 1.03B | 935.06M | 1.14B | 1.40B | 1.59B | 1.72B |
Cash Flow | ||||||
| Free Cash Flow | -297.35M | -243.37M | -322.41M | -371.44M | -317.52M | -234.71M |
| Operating Cash Flow | -207.59M | -160.01M | -229.12M | -267.23M | -188.77M | -197.85M |
| Investing Cash Flow | -1.63M | -5.33M | -181.19M | -324.81M | -88.70M | -56.60M |
| Financing Cash Flow | -2.45M | 16.13M | 33.78M | 190.55M | 23.51M | 1.60B |
Suzhou Basecare Medical Corp. Ltd. Class H Technical Analysis
Negative
1.97
Price Trends
1.94
Positive
2.02
Negative
2.51
Negative
Market Momentum
<0.01
Positive
49.64
Neutral
43.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2170, the sentiment is Negative. The current price of 1.97 is below the 20-day moving average (MA) of 1.99, above the 50-day MA of 1.94, and below the 200-day MA of 2.51, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.64 is Neutral, neither overbought nor oversold. The STOCH value of 43.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2170.
Suzhou Basecare Medical Corp. Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | HK$837.92M | -0.88 | -21.05% | ― | -34.96% | 43.01% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | HK$4.43B | -18.13 | -11.27% | ― | 16.35% | 9.43% | |
45 Neutral | HK$519.70M | -2.10 | -16.83% | ― | -21.90% | 5.78% | |
45 Neutral | HK$655.63M | -8.26 | -11.54% | ― | -30.60% | 28.61% | |
44 Neutral | HK$3.28B | 17.15 | 2.04% | ― | 90.81% | ― | |
43 Neutral | HK$3.29B | -4.06 | -6.63% | ― | -4.38% | ― |
* Healthcare Sector Average
HK:2170
Suzhou Basecare Medical Corp. Ltd. Class H
1.90
-1.30
-40.63%
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6.38
1.07
20.15%
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MicroPort CardioFlow Medtech Corp.
2.47
-2.03
-45.11%
HK:2216
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1.16
-1.04
-47.27%
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7.98
1.75
28.09%
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Venus Medtech (Hangzhou), Inc. Class H
1.85
-0.70
-27.45%
Suzhou Basecare Medical Corp. Ltd. Class H Corporate Events
Suzhou Basecare Wins NMPA Approval for Key IVF Media, Bolstering Assisted Reproduction Portfolio
Apr 7, 2026
Suzhou Basecare Medical Corporation Limited has received Class III medical device registration certificates from China’s National Medical Products Administration for its fertilisation medium and blastocyst medium, two core products in its Ge...
Basecare pivots to commercialization as revenue dips but margins improve in 2025
Mar 30, 2026
Suzhou Basecare Medical Corporation Limited reported 2025 revenue of RMB233.3 million, down from RMB299.1 million in 2024, while narrowing its operating loss and improving gross margins through cost controls and a refined product and regional mix....
Suzhou Basecare Sets March 30 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 18, 2026
Suzhou Basecare Medical Corporation Limited has scheduled a board meeting for March 30, 2026, to review and approve the annual results of the company and its subsidiaries for the financial year ended December 31, 2025. The board will also consider...
Suzhou Basecare Wins China Approval for Fully Domestic PGT-A IVF Testing Kit
Mar 16, 2026
Suzhou Basecare Medical Corporation Limited has obtained national Class III medical device registration from China’s regulator for its pre-implantation genetic testing kit for aneuploidy, which is built on a purely domestically developed hig...
Suzhou Basecare Wins NMPA Approval for Geri Embryo Culture Medium, Expands Local Fertility Ecosystem
Feb 26, 2026
Suzhou Basecare Medical Corporation Limited announced that it has received Class III medical device registration approval from China’s National Medical Products Administration for its Geri Medium, part of the Gems series embryo culture media...
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.