Biocytogen Pharmaceuticals (Beijing) Co. Ltd. Class H (2315) AI Stock Analysis

• Market Cap: HK$10.67B
• Dividend Yield: N/A
• Average Volume (3M): 521.33K
• Price to Earnings (P/E): 70.9
• Beta (1Y): 1.09
• Revenue Growth: 48.38%
• EPS Growth: N/A
• Country: HK
• Employees: 1,117
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.13
• Shares Outstanding: 110,781,920
• 10 Day Avg. Volume: 333,350
• 30 Day Avg. Volume: 521,329
• PEG Ratio: -0.87
• Price to Book (P/B): 3.81
• Price to Sales (P/S): 3.24
• P/FCF Ratio: 18.25
• 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$27.00
• Price Target Upside: 5.63% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 68 Neutral
• Price Target: HK$31.00 ▲(21.28% Upside)

Biocytogen Pharmaceuticals shows strong financial performance and technical indicators, driving a positive outlook. However, the high P/E ratio suggests potential overvaluation, which tempers the overall score. The absence of earnings call data and corporate events means these factors do not influence the score.

Biocytogen Pharmaceuticals (Beijing) Co. Ltd. Class H Business Overview & Revenue Model

Company Description

Biocytogen Pharmaceuticals (Beijing) Co., Ltd., a biotechnology company, engages in the research and development of antibody-based drugs worldwide. The company's pipeline includes 12 core products, among which two products are in Phase II multi-regional clinical trials and two products are in Phase I clinical trials. It focuses on developing drugs in the areas of oncology, autoimmune, inflammatory, metabolic, and other diseases. The company was founded in 2009 and is headquartered in Beijing, China. Beijing Biocytogen Co., Ltd. develops and prepares gene engineered animals to large-scale supply of animal models. It offers preclinical animal studies using gene humanized models, PDX models, and human immune system reconstruction models. The company's products include B-NDG mice, cre mouse models, cre rat models, B-p53 KO mice, B-ApoE KO mice, B-hIL6 mice, B-IL17-EGFP KI mice, B-TGFb1 cKO mice, genome- edited hESC, luciferase reported stable tumor cell lines, B-Pink1 KO rats, B-IL2rg KO rats, B-Cas9D10A cKI rats, B-ApoA4 KO rats, B-LDLR KO rats, B-Prkdc KO rats, B-Rag2 KO rats, B-tdTomato cKI rats, B-ApoE KO rats, B-hTnf mice, and B-hFcgrt (FcRn) mice. Beijing Biocytogen Co., Ltd. also develops antibody research and development platform and provides pharmacology services in the areas of tumor immunity, tumor and autoimmunity, and in vivo and in vitro pharmacology and pharmacology service platform. It also sells its products online. The company was founded in 2008 and is based in Beijing, China with additional locations in Beijing, Haimen, Jiangsu, Shanghai, China; Heidelberg, Germany; and Boston, the United States.

How the Company Makes Money

Biocytogen Pharmaceuticals generates revenue primarily through the development and commercialization of antibody drugs. The company employs a revenue model that includes out-licensing its proprietary antibodies to pharmaceutical partners, collaborating on joint research projects, and engaging in contract research and development services. These partnerships and collaborations often involve upfront payments, milestone payments based on the achievement of clinical and regulatory goals, and royalties on sales of products developed using Biocytogen's technology. The company also benefits from strategic alliances that enhance its research capabilities and expand its market reach.

Biocytogen Pharmaceuticals (Beijing) Co. Ltd. Class H Financial Statement Overview

Summary

Biocytogen Pharmaceuticals demonstrates a positive financial trajectory with improvements across income statement, balance sheet, and cash flow metrics. The company has achieved significant profitability and revenue growth, supported by efficient operations and cash management. However, maintaining leverage and ensuring consistent cash flow generation will be crucial for sustaining long-term financial health.

Income Statement

Biocytogen Pharmaceuticals has shown a strong improvement in its income statement metrics over the TTM period. The gross profit margin is robust at 79.5%, indicating effective cost management. The net profit margin has improved significantly to 11.1%, reflecting enhanced profitability. Revenue growth rate is healthy at 9.7%, suggesting positive business momentum. EBIT and EBITDA margins have also improved, indicating operational efficiency. However, historical volatility in profitability remains a concern.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio of 0.69, which is manageable but slightly elevated compared to previous years. Return on equity has improved to 15.3%, indicating better utilization of shareholder funds. The equity ratio stands at 35.9%, reflecting a stable capital structure. While improvements are evident, the company should continue to monitor its leverage to maintain financial stability.

Cash Flow

Cash flow metrics have shown positive trends, with a strong free cash flow growth rate of 32.1% in the TTM period. The operating cash flow to net income ratio is 0.82, indicating good cash conversion. The free cash flow to net income ratio is 0.88, reflecting efficient cash management. Despite these improvements, the company should focus on sustaining cash flow generation to support future growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.19B	980.45M	716.91M	533.88M	354.56M	253.54M
Gross Profit	946.48M	761.52M	506.03M	391.75M	247.44M	166.99M
EBITDA	382.48M	303.80M	-97.87M	-465.86M	-378.12M	-328.64M
Net Income	132.21M	33.54M	-382.95M	-602.16M	-545.58M	-542.97M
Balance Sheet
Total Assets	2.49B	2.42B	2.45B	2.80B	2.30B	2.33B
Cash, Cash Equivalents and Short-Term Investments	486.84M	381.18M	408.09M	611.27M	566.45M	957.41M
Total Debt	614.18M	570.28M	544.11M	415.28M	89.80M	463.80M
Total Liabilities	1.59B	1.58B	1.66B	1.65B	1.05B	868.28M
Stockholders Equity	892.04M	834.06M	785.89M	1.15B	1.25B	1.45B
Cash Flow
Free Cash Flow	338.66M	174.12M	-203.26M	-543.94M	-564.45M	-531.73M
Operating Cash Flow	385.07M	211.25M	-76.65M	-303.27M	-365.78M	-225.31M
Investing Cash Flow	-188.05M	-137.12M	-100.28M	-153.74M	-84.13M	-188.18M
Financing Cash Flow	-165.85M	-92.03M	-37.82M	587.20M	219.44M	868.44M

Biocytogen Pharmaceuticals (Beijing) Co. Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 25.56
• 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:2315, the sentiment is Neutral. The current price of 25.56 is below the 20-day moving average (MA) of 26.95, above the 50-day MA of 25.38, and above the 200-day MA of 16.56, indicating a neutral trend. The MACD of 0.69 indicates Positive momentum. The RSI at 45.93 is Neutral, neither overbought nor oversold. The STOCH value of 21.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2315.

Biocytogen Pharmaceuticals (Beijing) Co. Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2315	68 Neutral	HK$10.67B	70.94	16.13%	―	48.38%	―
2162	55 Neutral	HK$21.20B	―	-8.79%	―	964.40%	65.90%
2171	53 Neutral	HK$11.93B	―	-42.46%	―	1219.19%	25.15%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
1672	48 Neutral	HK$10.87B	―	-12.74%	―	-76.58%	-4.90%
2157	41 Neutral	HK$14.55B	―	-21.42%	―	240.05%	-140.09%

Biocytogen Pharmaceuticals (Beijing) Co. Ltd. Class H Corporate Events

Biocytogen Pharmaceuticals Reports Strong Revenue Growth and Profit Turnaround in H1 2025

Biocytogen Pharmaceuticals announced preliminary financial data for the first half of 2025, showing a significant revenue increase of approximately 50.1% to 52.5% compared to the previous year, with expected revenues between RMB616.0 million and RMB626.0 million. The company also anticipates a turnaround from a loss to a net profit ranging from RMB42.7 million to RMB52.7 million, driven by strategic R&D investments and expansion in overseas markets, which have bolstered its competitive position and facilitated rapid growth in both domestic and international sectors.

Biocytogen Pharmaceuticals Initiates Share Repurchase and Award Scheme

Biocytogen Pharmaceuticals announced a voluntary share repurchase plan, approved at its 2024 AGM, to buy back up to 11,078,192 H Shares, representing 10% of its H Shares and 2.77% of its total issued share capital, using internal funds up to HK$50 million over the next 24 months. The repurchased shares may be held as Treasury Shares or used for employee share awards, with the company appointing Kastle Limited to manage the repurchase and CMB Wing Lung (Trustee) Limited to oversee the Share Award Scheme, all while adhering to regulatory requirements and market conditions.

Biocytogen Secures Japan Patent for RenMab Platform, Strengthening Global IP Strategy

Biocytogen Pharmaceuticals has secured a patent in Japan for its RenMab™ fully human antibody mouse platform, marking a significant milestone in its global intellectual property strategy. This achievement enhances the company’s competitive edge in the biotech industry, as the RenMice platform has already generated numerous licensing agreements and high-potential therapeutic candidates, underscoring its substantial commercial value and global recognition.

Biocytogen Pharmaceuticals Concludes Successful 2024 AGM with Strong Shareholder Support

Biocytogen Pharmaceuticals held its 2024 Annual General Meeting on May 28, 2025, combining a physical and virtual format. The meeting saw participation from shareholders representing 81.27% of the total voting shares. Key resolutions were voted on, with certain shareholders abstaining due to conflicts of interest, ensuring compliance with regulatory requirements. All resolutions were passed by poll, reflecting strong shareholder support and adherence to corporate governance standards.