Mabpharm Limited (HK:2181)
:2181
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Mabpharm Limited
(2181)
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Rating:49Neutral
Price Target:
HK$0.38
▼(-24.40% Downside)
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 turnaround & profitability
A sharp 2025 revenue jump and return to positive net income indicate the business regained commercial traction and pricing power. Sustained top-line growth with profitable years supports reinvestment capacity, long-term viability, and the ability to fund R&D or expansion without sole reliance on external capital.
Negative Factors
Elevated leverage
High and rising leverage reduces financial flexibility and increases default risk if growth or margins slow. A small equity base magnifies solvency exposure and limits the firm's ability to absorb shocks, constrain capital allocation choices, and raise cheap incremental financing over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue turnaround & profitability
A sharp 2025 revenue jump and return to positive net income indicate the business regained commercial traction and pricing power. Sustained top-line growth with profitable years supports reinvestment capacity, long-term viability, and the ability to fund R&D or expansion without sole reliance on external capital.
Read all positive factors
Mabpharm Limited (2181) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.69B
Dividend YieldN/A
Average Volume (3M)354.33K
Price to Earnings (P/E)26.1
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 is a Chinese biopharmaceutical firm dedicated to the research, development, and manufacturing of innovative and biosimilar medications. Its therapeutic focus areas include allergic conditions, various cancers, and autoimmune disor...
How the Company Makes Money
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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
Neutral
0.50
Price Trends
0.44
Negative
0.47
Negative
0.54
Negative
Market Momentum
-0.01
Negative
49.50
Neutral
72.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2181, the sentiment is Neutral. The current price of 0.5 is above the 20-day moving average (MA) of 0.40, above the 50-day MA of 0.44, and below the 200-day MA of 0.54, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 49.50 is Neutral, neither overbought nor oversold. The STOCH value of 72.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | HK$33.34B | 35.73 | 23.99% | ― | 16.65% | 0.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$60.53B | 49.36 | 42.27% | ― | 80.08% | ― | |
49 Neutral | HK$1.69B | 26.09 | 43.89% | ― | 150.60% | ― | |
46 Neutral | HK$6.53B | -57.85 | -6.26% | ― | -11.65% | -169.40% | |
44 Neutral | HK$1.49B | -11.00 | -27.70% | ― | -100.00% | 50.29% | |
42 Neutral | HK$30.87B | -46.82 | -10.78% | ― | 34.19% | 47.97% |
* Healthcare Sector Average
HK:2181
Mabpharm Limited
0.41
-0.06
-12.77%
HK:9966
Alphamab Oncology
7.19
0.04
0.56%
HK:9995
RemeGen Co. Ltd. Class H
66.85
2.35
3.64%
HK:1877
Shanghai Junshi Biosciences Co., Ltd. Class H
16.25
-6.75
-29.35%
HK:2696
Shanghai Henlius Biotech, Inc. Class H
62.75
11.40
22.20%
HK:3681
SinoMab Bioscience Ltd.
1.08
-1.32
-55.00%
Mabpharm Limited Corporate Events
Mabpharm Wins China Approval for Denosumab Osteoporosis Drug, Eyes Global Markets
Jun 9, 2026
Mabpharm Limited has received approval from China’s National Medical Products Administration for its new drug application for CMAB807 denosumab injection, indicated for osteoporosis in postmenopausal women at increased fracture risk, men at ...
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...
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.