Zylox-Tonbridge Medical Technology Co., Ltd. Class H (2190) AI Stock Analysis

• Market Cap: HK$7.59B
• Dividend Yield: 0.47%
• Average Volume (3M): 747.37K
• Price to Earnings (P/E): 44.8
• Beta (1Y): 0.61
• Revenue Growth: 35.01%
• EPS Growth: 483.73%
• Country: HK
• Employees: 875
• Sector: Healthcare
• Sector Strength: 51
• Industry: Medical - Devices
• EPS (TTM): 0.40
• Shares Outstanding: 322,400,760
• 10 Day Avg. Volume: 619,813
• 30 Day Avg. Volume: 747,371
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$26.99
• Price Target Upside: 17.36% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 59 Neutral
• Price Target: HK$26.00 ▲(13.04% Upside)

Zylox-Tonbridge Medical Technology's strong revenue growth and improving profitability are overshadowed by significant cash flow challenges. While technical indicators show positive market momentum, overbought conditions present risks. The stock appears overvalued based on its high P/E ratio, and the low dividend yield offers limited income potential.

Positive Factors

Financial Performance

Adjusted net income surged by 68.1% year over year to Rmb131mn, reaching an adjusted net margin of 27.3%.

Market Entry

VBP guidelines are becoming more lenient, allowing new entrants to participate at the average bidding price from the last round, which should benefit quality new domestic entrants like Zylox.

Stock Outlook

The price target is increased, indicating a positive outlook for the stock's future value.

Negative Factors

Operating Expenses

Notable declines in the operating expenses ratio contribute to a better financial outlook.

Zylox-Tonbridge Medical Technology Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Zylox-Tonbridge Medical Technology Co., Ltd., a medical device company, provides neuro- and peripheral-vascular interventional medical devices China and internationally. It primarily offers ThromBite Clot Retriever Device, which is intended to restore blood flow by removing thrombus from a large intracranial vessel in patients experiencing ischemic stroke; Balloon Guiding Catheter; Cylone Aspiration Catheter; ZENFLEX Pro Peripheral Drug-eluting Stent System for complex lesions and restenotic symptomatic lesions; ZENFlex Peripheral Stent System to deliver a self-expanding stent to the iliac artery, superficial femoral arteries, and/or proximal popliteal arteries through a 6F delivery system; and drug-coated percutaneous transluminal angioplasty (PTA) Balloon Catheters that are indicated for PTA of stenosis or occlusion lesions in iliac, femoral, or popliteal arteries. The company also provides Ton-Bridge extra soft coils for the endovascular embolization of intracranial aneurysms and other neurovascular abnormalities, such as arteriovenous malformations and arteriovenous fistulae; microcatheter for coiling; distal access catheter; glycine micro catheter for professional physician to selectively inject or input control medium and/or embolic materials, and/or appropriate devices; Intracranial PTA balloon catheter; vascular snare; and snare retrieval kit for IVC filter. Zylox-Tonbridge Medical Technology Co., Ltd. was incorporated in 2012 and is headquartered in Zhejiang, the People's Republic of China.

How the Company Makes Money

Zylox-Tonbridge Medical Technology Co., Ltd. generates revenue primarily through the sale of its medical devices to hospitals, clinics, and healthcare providers. The company's key revenue streams include the direct sale of its neurovascular and peripheral vascular intervention products. Additionally, the company may engage in partnerships or collaborations with healthcare institutions and distributors to expand its market reach. Factors contributing to its earnings include ongoing innovation in product development, a strong distribution network, and its ability to meet regulatory standards for medical devices in various regions.

Zylox-Tonbridge Medical Technology Co., Ltd. Class H Financial Statement Overview

Summary

Zylox-Tonbridge Medical Technology shows impressive revenue growth and improved profitability with a strong balance sheet. However, cash flow challenges persist, indicating a need for more stable cash generation from operations.

Income Statement

Zylox-Tonbridge Medical Technology shows significant revenue growth, with revenue increasing from HKD 5 million in 2019 to HKD 782 million in 2024. The gross profit margin has been consistently high, reaching 71.5% in 2024. Profitability has improved, with the net profit margin turning positive at 12.8% in 2024, up from negative margins in previous years. However, there were periods of EBIT and EBITDA losses, indicating operational challenges before 2024.

Balance Sheet

The company maintains a strong equity position, with a high equity ratio of 89.8% in 2024, reflecting financial stability. The debt-to-equity ratio has remained low, minimizing financial risk. High cash reserves and negative net debt emphasize liquidity strength. However, consistent growth in total liabilities over the years warrants monitoring.

Cash Flow

Zylox-Tonbridge has faced challenges with cash flow generation, as evidenced by fluctuating and often negative free cash flows. Operating cash flow turned negative in 2024, impacting cash flow sustainability. The reliance on financing activities in earlier years highlights the need for improved cash flow from operations.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	782.48M	527.75M	334.09M	177.91M	27.63M
Gross Profit	559.89M	384.99M	252.67M	131.88M	16.29M
EBITDA	65.30M	-41.60M	-86.56M	-199.94M	-90.16M
Net Income	100.26M	-78.73M	-120.41M	-186.05M	-99.48M
Balance Sheet
Total Assets	3.45B	3.38B	3.25B	3.25B	503.97M
Cash, Cash Equivalents and Short-Term Investments	1.28B	1.51B	1.86B	2.93B	317.26M
Total Debt	90.91M	55.88M	14.00M	9.40M	34.22M
Total Liabilities	351.56M	328.32M	159.54M	103.61M	79.28M
Stockholders Equity	3.10B	3.05B	3.09B	3.14B	424.69M
Cash Flow
Free Cash Flow	-17.26M	-92.48M	-236.60M	-205.80M	-127.47M
Operating Cash Flow	174.08M	98.44M	-91.32M	-116.21M	-82.33M
Investing Cash Flow	-801.36M	-206.24M	-95.05M	-1.33B	-249.18M
Financing Cash Flow	-41.98M	-11.46M	-30.26M	2.81B	345.54M

Zylox-Tonbridge Medical Technology Co., Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2190, the sentiment is Positive. The current price of 23 is above the 20-day moving average (MA) of 22.91, above the 50-day MA of 21.85, and above the 200-day MA of 16.20, indicating a bullish trend. The MACD of 0.32 indicates Positive momentum. The RSI at 52.41 is Neutral, neither overbought nor oversold. The STOCH value of 32.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2190.

Zylox-Tonbridge Medical Technology Co., Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2190	59 Neutral	HK$7.59B	44.83	4.99%	0.47%	35.01%	483.73%
Sector *	51 Neutral	$7.86B	-0.26	-41.41%	2.22%	22.87%	-2.01%
4WO	―	€543.41M	―	-11.20%	―	―	―
1302	73 Outperform	HK$8.42B	109.55	1.98%	―	3.42%	-70.82%
2172	66 Neutral	HK$7.64B	34.53	11.79%	1.45%	-5.18%	-9.69%
1858	64 Neutral	HK$8.46B	41.42	4.39%	0.98%	-32.05%	-54.47%
1789	62 Neutral	HK$6.28B	19.62	11.24%	1.29%	25.18%	55.79%

Zylox-Tonbridge Medical Technology Co., Ltd. Class H Corporate Events

Zylox-Tonbridge Projects Strong Financial Growth in H1 2025

Zylox-Tonbridge Medical Technology Co., Ltd. has announced a significant increase in its financial performance for the first half of 2025, with revenue expected to exceed RMB480 million, a 31.1% increase from the previous year. This growth is attributed to strong sales of key products and an effective sales strategy. Net profit is also anticipated to rise by 66.9% to over RMB115 million, driven by increased revenue, stable gross profit margins, and enhanced operational efficiency.

The most recent analyst rating on (HK:2190) stock is a Buy with a HK$18.60 price target. To see the full list of analyst forecasts on Zylox-Tonbridge Medical Technology Co., Ltd. Class H stock, see the HK:2190 Stock Forecast page.

Zylox-Tonbridge Schedules Board Meeting to Review Interim Results

Zylox-Tonbridge Medical Technology Co., Ltd. has announced an upcoming board meeting scheduled for August 19, 2025. The meeting will focus on approving and publishing the interim results for the first half of the year, which could have implications for the company’s financial performance and market positioning.

The most recent analyst rating on (HK:2190) stock is a Buy with a HK$18.60 price target. To see the full list of analyst forecasts on Zylox-Tonbridge Medical Technology Co., Ltd. Class H stock, see the HK:2190 Stock Forecast page.

Zylox-Tonbridge Grants 250,000 Awards to Boost Long-term Growth

Zylox-Tonbridge Medical Technology Co., Ltd. has granted 250,000 awards under its Share Award Scheme to a service provider involved in consultancy services related to the company’s product development. This grant aims to recognize and motivate the service provider, aligning their interests with the company’s long-term growth objectives. The awards are subject to performance targets and a clawback mechanism, ensuring alignment with the company’s strategic goals.

The most recent analyst rating on (HK:2190) stock is a Buy with a HK$18.60 price target. To see the full list of analyst forecasts on Zylox-Tonbridge Medical Technology Co., Ltd. Class H stock, see the HK:2190 Stock Forecast page.

Zylox-Tonbridge Medical Technology Co., Ltd. Holds Successful 2024 AGM

Zylox-Tonbridge Medical Technology Co., Ltd. successfully held its 2024 Annual General Meeting (AGM) on May 30, 2025, where all proposed resolutions were approved unanimously. The meeting was conducted in compliance with relevant laws and regulations, with a significant portion of the company’s shares represented in the voting process, indicating strong shareholder support and engagement.

The most recent analyst rating on (HK:2190) stock is a Buy with a HK$18.60 price target. To see the full list of analyst forecasts on Zylox-Tonbridge Medical Technology Co., Ltd. Class H stock, see the HK:2190 Stock Forecast page.

Zylox-Tonbridge Updates Final Dividend Details for 2024

Zylox-Tonbridge Medical Technology Co., Ltd. has announced an update regarding its final dividend for the year ended December 31, 2024. The dividend is set at RMB 0.1 per share, with a payment in Hong Kong dollars at an exchange rate of RMB 1 to HKD 1.089909. The ex-dividend date is June 4, 2025, and the payment date is June 27, 2025. The company will withhold a 10% tax for non-resident enterprise shareholders and a 20% tax for domestic individual shareholders, reflecting its compliance with tax regulations.

The most recent analyst rating on (HK:2190) stock is a Buy with a HK$18.60 price target. To see the full list of analyst forecasts on Zylox-Tonbridge Medical Technology Co., Ltd. Class H stock, see the HK:2190 Stock Forecast page.