Guangzhou Innogen Pharmaceutical Group Co Ltd Class H (HK:2591)
:2591
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Guangzhou Innogen Pharmaceutical Group Co Ltd Class H
(2591)
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Rating:45Neutral
Price Target:
HK$13.50
▼(-55.62% Downside)
Action:ReiteratedDate:05/03/26
The score is weighed down primarily by ongoing large losses and persistent negative free cash flow despite a 2025 revenue ramp, with technicals also weak as the stock trades well below key moving averages and momentum is negative. The balance sheet provides some support, but rising debt and a lack of profitability/dividend limit overall attractiveness.
Positive Factors
2025 revenue ramp & high gross margin
A clear 2025 revenue inflection with an ~81.5% gross margin indicates the company has product sales that are high-margin at the unit level. If sustained, high gross profitability provides structural leverage to cover fixed R&D and SG&A as volumes scale, aiding path to durable operating profitability once commercial costs stabilize.
Negative Factors
Persistent large cash burn
Material negative operating and free cash flow across years is a durable risk: ongoing cash burn necessitates external financing, which can dilute shareholders or increase leverage. Continued negative cash generation constrains strategic optionality and increases execution risk for commercial expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
2025 revenue ramp & high gross margin
A clear 2025 revenue inflection with an ~81.5% gross margin indicates the company has product sales that are high-margin at the unit level. If sustained, high gross profitability provides structural leverage to cover fixed R&D and SG&A as volumes scale, aiding path to durable operating profitability once commercial costs stabilize.
Read all positive factors
Guangzhou Innogen Pharmaceutical Group Co Ltd Class H (2591) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.48B
Dividend YieldN/A
Average Volume (3M)470.32K
Price to Earnings (P/E)―
Beta (1Y)2.00
Revenue GrowthN/A
EPS Growth-102.03%
CountryHK
Employees105
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding420,285,370
10 Day Avg. Volume352,882
30 Day Avg. Volume470,322
Financial Highlights & Ratios
PEG Ratio-0.36
Price to Book (P/B)11.34
Price to Sales (P/S)93.25
P/FCF Ratio-37.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$28.10Price Target Upside-7.63% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Guangzhou Innogen Pharmaceutical Group Co Ltd Class H Business Overview & Revenue Model
Company Description
Guangzhou Innogen Pharmaceutl Grp Co Ltd is a China-based investment holding company focused on the research, development, and commercialization of pharmaceutical products, particularly innovative, humanized, long-acting GLP-1 receptor agonists fo...
How the Company Makes Money
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Guangzhou Innogen Pharmaceutical Group Co Ltd Class H Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
64
Positive
Cash Flow
33
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 128.11M | 0.00 | 0.00 |
| Gross Profit | 104.43M | 0.00 | 0.00 |
| EBITDA | -324.30M | -156.89M | -711.42M |
| Net Income | -332.53M | -174.69M | -733.38M |
Balance Sheet | |||
| Total Assets | 1.57B | 934.80M | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 1.21B | 796.88M | 945.34M |
| Total Debt | 166.33M | 9.90M | 46.59M |
| Total Liabilities | 517.84M | 138.33M | 400.24M |
| Stockholders Equity | 1.05B | 796.47M | 705.13M |
Cash Flow | |||
| Free Cash Flow | -317.57M | -166.95M | -176.79M |
| Operating Cash Flow | -295.54M | -162.62M | -164.60M |
| Investing Cash Flow | 22.63M | 275.95M | -157.21M |
| Financing Cash Flow | 722.37M | 254.84M | 351.71M |
Guangzhou Innogen Pharmaceutical Group Co Ltd Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | HK$12.42B | -86.94 | -11.81% | ― | 219.26% | 87.63% | |
56 Neutral | HK$72.73B | 36.25 | 32.32% | ― | 80.08% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$9.79B | -15.87 | -6.26% | ― | -11.65% | -169.40% | |
46 Neutral | HK$5.38B | -12.96 | -17.64% | ― | -65.87% | 6.71% | |
45 Neutral | HK$6.48B | -14.14 | -39.43% | ― | ― | -102.03% | |
44 Neutral | HK$16.04B | -6.78 | -123.74% | ― | -41.32% | -159.81% |
* Healthcare Sector Average
HK:2591
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Guangzhou Innogen Pharmaceutical Group Co Ltd Class H Corporate Events
Innogen Deepens Metabolic Focus as Efsubaglutide Launch Drives First Revenue but Widens Loss
Mar 23, 2026
Guangzhou Innogen reported its first year of revenue of RMB131.5 million in 2025 as it shifted toward commercial operations, driven by the rollout of its core diabetes drug Efsubaglutide Alfa, though heavy investment in research, clinical programs...
Guangzhou Innogen Reshapes Company Secretariat and Secures HKEX Compliance Waiver
Mar 23, 2026
Guangzhou Innogen Pharmaceutical Group has announced the resignation of joint company secretary, Hong Kong legal process agent and authorised representative Ms. Sze Suet Ling, effective 23 March 2026, citing personal career development, and confir...
Guangzhou Innogen Warns of Wider 2025 Loss Despite Revenue From New Diabetes Drug
Mar 18, 2026
Guangzhou Innogen Pharmaceutical Group Co., Ltd., a biopharmaceutical developer of metabolic disease treatments, has begun commercializing its core product Efsubaglutide Alfa for type 2 diabetes in China and Macau while advancing lifecycle and cli...
Guangzhou Innogen Seeks Full H-Share Circulation via Conversion of Domestic Shares
Mar 17, 2026
Guangzhou Innogen Pharmaceutical Group has moved to convert all of its domestic unlisted shares into H shares, filing an application with the China Securities Regulatory Commission on 17 March 2026. The company plans to list these converted H shar...
Guangzhou Innogen Pharma Reshapes Company Secretarial Team with New Joint Appointment and Listing Rules Waiver
Feb 6, 2026
Guangzhou Innogen Pharmaceutical Group has announced a change in its company secretarial team, with Jin Jin resigning as joint company secretary for personal development reasons, and the board emphasizing that there are no disagreements or issues ...
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.
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