Beijing Airdoc Technology Co. Ltd. Class H (2251) AI Stock Analysis

• Market Cap: HK$1.36B
• Dividend Yield: N/A
• Average Volume (3M): 123.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.80
• Revenue Growth: -24.50%
• EPS Growth: -93.44%
• Country: HK
• Employees: 248
• Sector: Healthcare
• Sector Strength: 39
• Industry: Medical - Healthcare Information Services
• EPS (TTM): -1.86
• Shares Outstanding: 103,568,016
• 10 Day Avg. Volume: 183,209
• 30 Day Avg. Volume: 123,594
• PEG Ratio: 0.24
• Price to Book (P/B): 0.92
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -27.01
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 49 Neutral
• Price Target: HK$12.00 ▼(-8.54%Downside)

Beijing Airdoc Technology Co. Ltd. faces significant financial and valuation challenges, with declining revenues, negative profitability, and concerning cash flow issues being the most significant factors. The technical analysis provides some neutral signals, but overall concerns outweigh any positive aspects. Strategic improvements are necessary to enhance financial stability and investor confidence.

Beijing Airdoc Technology Co. Ltd. Class H Business Overview & Revenue Model

Company Description

Beijing Airdoc Technology Co., Ltd. provides AI-empowered retina-based early detection, diagnosis, and health risk assessment solutions for medical institutions and consumer healthcare providers in Mainland China and internationally. It offers Airdoc-AIFUNDUS (1.0), an AI-based software as a medical device for auxiliary diagnosis of diabetic retinopathy; Airdoc-AIFUNDUS (2.0) for the auxiliary diagnosis of hypertensive retinopathy, retinal vein occlusion, and age-related macular degeneration; and Airdoc-AIFUNDUS (3.0) for the auxiliary diagnosis of pathological myopia, retinal detachment, glaucoma detection, cataracts detection, ICVD/ASCVD, gestational diabetic retinopathy, gestational hypertensive retinopathy, papilledema intracranial, hypertension retinopathy, and anemia. The company also provides health risk assessment solutions to detect risk indicators, such as various lesions and diseases, hyperthyroidism, graves ophthalmopathy, retinal vein occlusion, dementia, Parkinson's disease, atrial fibrillation, and arteriosclerosis in a range of healthcare environments, including health checkup centers, community clinics, insurance companies, optometry centers, and pharmacies. In addition, it offers hardware devices, including fundus cameras. The company was incorporated in 2015 and is headquartered in Beijing, China.

How the Company Makes Money

Beijing Airdoc Technology Co. Ltd. generates revenue primarily through the sale and licensing of its AI-powered diagnostic software and solutions to healthcare institutions, such as hospitals and clinics. The company offers software-as-a-service (SaaS) models, enabling clients to access its diagnostic tools via subscription. Additionally, Airdoc may engage in partnerships and collaborations with medical device manufacturers and healthcare providers to expand its market reach and integrate its technology into existing healthcare systems. Revenue is also driven by research and development collaborations, where Airdoc partners with academic institutions and pharmaceutical companies to enhance its AI algorithms and expand its capabilities into other medical fields.

Beijing Airdoc Technology Co. Ltd. Class H Financial Statement Overview

Summary

Beijing Airdoc Technology Co. Ltd. faces significant financial challenges with declining revenues and persistent losses. Despite a strong equity base, the company struggles with operational inefficiencies and negative cash flows, posing serious risks to financial stability.

Income Statement

The company has experienced significant declines in revenue with a 23.35% decrease from 2023 to 2024. Gross profit margins remain relatively healthy at 55.42% in 2024, but net income is deeply negative, reflecting ongoing profitability challenges. The negative EBIT and EBITDA margins indicate operational inefficiencies and high costs relative to revenue.

Balance Sheet

The company maintains a strong equity position with an equity ratio of 89.87% in 2024, indicating low financial leverage. However, the negative return on equity reflects losses and underutilization of equity capital. Total liabilities remain low, which reduces financial risk, but persistent negative net income impacts overall financial health.

Cash Flow

The company's cash flows are concerning, with zero operating and free cash flow in 2024. The inability to generate positive cash flow from operations raises sustainability concerns. Historical cash flows have been volatile, with significant negative free cash flow, highlighting challenges in managing cash effectively.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	156.37M	203.96M	113.66M	115.18M	47.67M
Gross Profit	86.68M	125.13M	55.85M	70.24M	29.09M
EBITDA	-259.70M	-113.36M	-159.64M	-126.73M	-49.42M
Net Income	-255.46M	-132.53M	-187.23M	-136.99M	-79.63M
Balance Sheet
Total Assets	1.41B	1.68B	1.74B	1.89B	435.75M
Cash, Cash Equivalents and Short-Term Investments	774.82M	1.14B	1.41B	1.78B	374.70M
Total Debt	31.88M	9.37M	8.01M	8.20M	519.00K
Total Liabilities	134.86M	127.13M	68.59M	74.19M	27.30M
Stockholders Equity	1.27B	1.54B	1.67B	1.82B	408.21M
Cash Flow
Free Cash Flow	-167.51M	8.02M	-392.55M	-140.11M	-64.77M
Operating Cash Flow	-165.43M	23.37M	-380.44M	-112.09M	-42.86M
Investing Cash Flow	-11.34M	-385.14M	-154.43M	-22.01M	91.69M
Financing Cash Flow	-33.31M	-18.53M	-17.14M	1.55B	240.63M

Beijing Airdoc Technology Co. Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2251, the sentiment is Positive. The current price of 13.12 is above the 20-day moving average (MA) of 12.33, above the 50-day MA of 12.25, and above the 200-day MA of 12.03, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 60.11 is Neutral, neither overbought nor oversold. The STOCH value of 37.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2251.

Beijing Airdoc Technology Co. Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2219	78 Outperform	HK$2.06B	9.48	8.35%	8.20%	0.61%	-15.89%
Sector *	64 Neutral	¥338.68B	10.99	-2.99%	2.58%	11.79%	-10.20%
3309	52 Neutral	HK$2.32B	33.92	-7.51%	1.09%	-0.56%	-323.09%
2251	49 Neutral	HK$1.36B	―	-18.19%	―	-24.50%	-93.44%
2325	48 Neutral	HK$2.47B	―	-48.48%	0.50%	-21.82%	-700.17%
2158	45 Neutral	HK$5.06B	―	-2.97%	―	11.00%	56.87%
3681	45 Neutral	HK$2.42B	―	-75.64%	―	42.21%	29.52%

Beijing Airdoc Technology Co. Ltd. Class H Corporate Events

Beijing Airdoc Technology Successfully Concludes 2024 AGM with All Resolutions Passed

Beijing Airdoc Technology Co., Ltd. announced that all resolutions proposed at its 2024 annual general meeting were duly passed by shareholders. The meeting was conducted in compliance with relevant legal and regulatory requirements, with all directors and supervisors in attendance, either physically or via telecommunication. The successful passing of resolutions indicates a smooth operational and governance process, potentially reinforcing stakeholder confidence in the company’s management and strategic direction.

Beijing Airdoc Technology Announces Board Composition and Roles

Beijing Airdoc Technology Co., Ltd. has announced the composition of its board of directors and their roles within various committees. This update reflects the company’s commitment to strong governance and strategic oversight, which is crucial for maintaining its competitive edge and ensuring sustainable growth in the rapidly evolving medical technology industry.

Beijing Airdoc Completes H Share Full Circulation

Beijing Airdoc Technology Co., Ltd. announced the completion of its 2024 H Share Full Circulation, converting 50,151,012 Unlisted Shares into H Shares, which will be listed on the Stock Exchange of Hong Kong. This move marks a significant step in the company’s market operations, potentially enhancing its liquidity and accessibility for investors, thereby strengthening its position in the market.

Beijing Airdoc Technology Announces 2024 AGM with Key Resolutions

Beijing Airdoc Technology Co., Ltd. has announced its 2024 Annual General Meeting (AGM) scheduled for June 27, 2025, where shareholders will consider various resolutions. These include approving the company’s 2024 reports, financial accounts, profit distribution plan, and the re-appointment of Ernst & Young as auditors. Additionally, the AGM will address the appointment of Mr. WEI Yubo as an executive director and the use of idle funds for cash management. Special resolutions will cover mandates for issuing new shares and repurchasing H shares. These resolutions are crucial for the company’s strategic financial management and governance, potentially impacting its market positioning and shareholder value.

Beijing Airdoc Technology Secures Approval for H Share Full Circulation

Beijing Airdoc Technology Co., Ltd. has received approval from the Stock Exchange for the listing and conversion of 50,151,012 H Shares as part of its 2024 H Share Full Circulation initiative. This development involves 26 participating shareholders and marks a significant step in the company’s expansion and market presence, potentially enhancing its liquidity and shareholder base.

Beijing Airdoc Announces Leadership Changes

Beijing Airdoc Technology Co., Ltd. announced the resignation of Mr. Wei Yubo as a supervisor due to an internal transfer within the company. Mr. Wei has been nominated for the position of executive director, pending shareholder approval at the upcoming annual general meeting. Additionally, Ms. Luo Yujie has been elected as an employee representative supervisor and chairman of the Board of Supervisors, bringing her extensive experience in auditing and internal control to the role.

Beijing Airdoc Gains CSRC Approval for H Share Circulation

Beijing Airdoc Technology Co., Ltd. has received approval from the China Securities Regulatory Commission (CSRC) for the full circulation of its domestic unlisted shares. This approval allows 26 shareholders to convert over 50 million unlisted shares into H shares, which can be listed and traded on the Hong Kong Stock Exchange. This move is expected to enhance the company’s market presence and liquidity, although further procedural steps are required before completion.