Mabpharm Limited (HK:2181)
:2181
Want to see HK:2181 full AI Analyst Report?
Top Page
Mabpharm Limited
(2181)
Select Model
Select Model
Rating:49Neutral
Price Target:
HK$0.51
▲(1.40% Upside)
Action:Reiterated
Date:04/29/26
The score is primarily held back by elevated leverage and weak cash conversion (negative free cash flow despite profits), alongside bearish technicals with the price below major moving averages and negative MACD. These risks are partly offset by a meaningful 2025 operational turnaround with strong revenue growth and a return to positive net income, while valuation remains constrained by a relatively high P/E.
Positive Factors
Revenue Growth
A strong revenue turnaround in 2025 demonstrates recovering demand and improved commercial traction. Sustained top-line growth over the next 2–6 months can provide scale economies, support reinvestment in R&D and commercialization, and create room to convert growth into durable operating improvements.
Negative Factors
Elevated Leverage
High and historically rising leverage materially limits financial flexibility and raises refinancing and covenant risk. With a relatively small equity base, significant debt burdens can force defensive choices (cutting investment or asset sales) if earnings or cash flows weaken, weakening long-term strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
A strong revenue turnaround in 2025 demonstrates recovering demand and improved commercial traction. Sustained top-line growth over the next 2–6 months can provide scale economies, support reinvestment in R&D and commercialization, and create room to convert growth into durable operating improvements.
Read all positive factors
Mabpharm Limited (2181) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.10B
Dividend YieldN/A
Average Volume (3M)354.33K
Price to Earnings (P/E)8.7
Beta (1Y)0.97
Revenue Growth150.60%
EPS GrowthN/A
CountryHK
Employees315
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.01
Shares Outstanding4,124,080,000
10 Day Avg. Volume54,400
30 Day Avg. Volume354,333
Financial Highlights & Ratios
PEG Ratio-0.23
Price to Book (P/B)11.77
Price to Sales (P/S)2.94
P/FCF Ratio-79.78
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
Mabpharm Limited Business Overview & Revenue Model
Company Description
Mabpharm Limited, a biopharmaceutical company, engages in research, development, and production of drugs and biosimilar drugs for allergic diseases, cancers, and autoimmune diseases in China. Its products under the Phase III clinical trial include...
How the Company Makes Money
null...
Mabpharm Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
46
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 629.37M | 258.23M | 87.16M | 55.92M | 82.88M |
| Gross Profit | 521.55M | 219.39M | 75.24M | 40.54M | 66.11M |
| EBITDA | 62.91M | -67.81M | -139.08M | -152.08M | -245.46M |
| Net Income | 55.65M | -127.95M | -209.36M | -210.62M | -291.74M |
Balance Sheet | |||||
| Total Assets | 1.15B | 1.02B | 1.03B | 917.52M | 899.90M |
| Cash, Cash Equivalents and Short-Term Investments | 109.30M | 89.34M | 173.34M | 48.61M | 81.56M |
| Total Debt | 326.88M | 293.09M | 260.07M | 126.34M | 46.43M |
| Total Liabilities | 996.58M | 927.28M | 829.92M | 516.58M | 297.92M |
| Stockholders Equity | 157.37M | 88.93M | 205.06M | 400.94M | 601.98M |
Cash Flow | |||||
| Free Cash Flow | -23.22M | -63.58M | 38.35M | -182.01M | -348.14M |
| Operating Cash Flow | 80.78M | -4.10M | 57.39M | -56.88M | -199.47M |
| Investing Cash Flow | -64.16M | -98.20M | -3.50M | -104.95M | -179.42M |
| Financing Cash Flow | 3.29M | 18.28M | 85.60M | 112.26M | -17.78M |
Mabpharm Limited Technical Analysis
Negative
0.50
Price Trends
0.49
Negative
0.50
Negative
0.57
Negative
Market Momentum
<0.01
Negative
46.19
Neutral
65.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2181, the sentiment is Negative. The current price of 0.5 is above the 20-day moving average (MA) of 0.47, above the 50-day MA of 0.49, and below the 200-day MA of 0.57, indicating a bearish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 46.19 is Neutral, neither overbought nor oversold. The STOCH value of 65.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2181.
Mabpharm Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | HK$3.51B | -3.96 | -14.53% | ― | -32.12% | -393.23% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | HK$2.10B | 8.68 | 43.89% | ― | 150.60% | ― | |
46 Neutral | HK$2.94B | -3.61 | -26.73% | ― | 14.59% | 22.41% | |
45 Neutral | HK$924.98M | -7.27 | -15.19% | ― | ― | 20.16% | |
44 Neutral | HK$1.79B | -7.60 | -27.70% | ― | -100.00% | 50.29% | |
41 Neutral | HK$512.53M | -3.95 | 293.08% | ― | ― | -25.79% |
* Healthcare Sector Average
HK:2181
Mabpharm Limited
0.46
0.04
8.33%
HK:6996
Antengene Corporation Limited
4.60
0.88
23.66%
HK:1875
TOT BIOPHARM International Co. Ltd.
4.41
2.61
145.00%
HK:2185
Shanghai Bio-Heart Biological Technology Co., Ltd. Class H
3.58
1.06
42.06%
HK:3681
SinoMab Bioscience Ltd.
1.39
0.09
6.92%
HK:6978
Immunotech Biopharm Ltd
0.82
-2.27
-73.46%
Mabpharm Limited Corporate Events
Mabpharm Sets 2026 AGM, Seeks 10% Share Buyback Mandate
Apr 27, 2026
Mabpharm Limited has called its annual general meeting for June 26, 2026, in Shanghai to present the audited consolidated financial statements for the year ended December 31, 2025, and the accompanying directors’ and auditors’ reports ...
Mabpharm Moves to Update Constitution for Treasury Shares and Digital Governance
Mar 26, 2026
Mabpharm Limited plans to amend its memorandum and articles of association to align with updated Hong Kong company law, stock exchange rules, and the expanded paperless listing regime. The proposed changes will also allow the company to hold treas...
Mabpharm Swings to Profit on Surging 2025 Revenue and Strong Gross Margins
Mar 26, 2026
Mabpharm Limited reported a sharp improvement in its 2025 financial performance, with revenue surging 150.2% year on year to RMB646.1 million and gross profit climbing 161.5% to RMB573.7 million. The company swung from a net loss of RMB127.9 milli...
Mabpharm Sets March 26 Board Meeting to Approve 2025 Annual Results
Mar 12, 2026
Mabpharm Limited has scheduled a board meeting for March 26, 2026, to review and approve the annual results for the year ended December 31, 2025. The board will also consider the publication of these results and address other corporate matters at ...
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.