Hangzhou Tigermed Consulting Co., Ltd. Class H (3347) AI Stock Analysis

• Market Cap: HK$48.87B
• Dividend Yield: 0.8%
• Average Volume (3M): 2.64M
• Price to Earnings (P/E): 14.1
• Beta (1Y): 1.86
• Revenue Growth: -3.81%
• EPS Growth: -34.76%
• Country: HK
• Employees: 10,185
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 0.81
• Shares Outstanding: 123,124,800
• 10 Day Avg. Volume: 1,735,173
• 30 Day Avg. Volume: 2,642,557
• PEG Ratio: -0.77
• Price to Book (P/B): 1.21
• Price to Sales (P/S): 3.79
• P/FCF Ratio: 33.79
• 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
• EPS Forecast (FY): 1.6
• Revenue Forecast (FY): HK$8.49B

• Rating: 62 Neutral
• Price Target: HK$59.00 ▲(9.26% Upside)
• Action: Reiterated Date: 01/31/26
• Date: Action: Reiterated 01/31/26

The score is driven primarily by mixed financial performance: strong balance sheet and solid free cash flow are offset by materially compressed margins/returns and some cash-to-earnings weakness. Technicals are supportive with a clear uptrend and positive momentum, but the overall score is capped by expensive valuation (high P/E and low yield).

Positive Factors

Conservative balance sheet

Very low leverage and an equity-heavy capital base give the company financial flexibility to fund multi-year clinical projects, absorb R&D timing shocks, and pursue partnerships or acquisitions without immediate external financing, enhancing long-term resilience.

Consistent free cash flow

Persistent positive FCF and a high FCF-to-profit conversion (~84% of net income TTM) support reinvestment in operations, fund working-capital needs, and reduce reliance on external capital, strengthening the firm's ability to sustain service delivery and growth.

Leading CRO franchise and partnerships

A top-tier CRO position and established partnerships create durable client relationships, repeat project streams and barriers to entry for competitors, anchoring long-term demand as pharma/biotech outsourcing and trial complexity continue structurally rising.

Negative Factors

Material margin compression

Sharp multi-year margin decline erodes operating leverage and cash-generating capacity, implying weaker pricing power or higher cost intensity. Sustained margin pressure can impair reinvestment, returns and competitiveness across cyclical trial volumes.

Cash-to-earnings weakness

Operating cash lagging reported profits suggests working-capital or timing strains and less durable cash backing for earnings. That raises financing friction risk for large program outlays and reduces margin of safety for payouts or M&A funding over the medium term.

Modest return on equity

Low ROE despite a strong equity base indicates limited efficiency converting capital into returns. Over time this can constrain shareholder value creation, pressure capital allocation choices, and make growth less accretive unless operating profitability recovers.

Hangzhou Tigermed Consulting Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Hangzhou Tigermed Consulting Co., Ltd. provides contract research organization services in the People's Republic of China and internationally. It operates in Clinical Trial Solutions, and Clinical-related and Laboratory Services segments. The company offers regulatory submission and approval, medical translation, and good manufacturing practice (GMP) consulting services; and clinical services in the areas of medical science, early clinical and late phase development, medical monitoring, project management, patient recruitment, and quality management system. It also provides biometrics services comprising data management, biostatistics, and statistical programming; and integrated technology services, such as site management, pharmacovigilance, third party audit and training, medical imaging, clinical trial system solution, central laboratory, pre-clinical, and research hospital. Further, the company offers medical device/ in vitro diagnostics (IVD) services comprising medical device testing, regulatory submission, clinical evaluation and trials, GMP certificate, EU MDR and IVDR preparation, and value-added services; and post-marketing study, real world evidence, and vaccine clinical trial services. Hangzhou Tigermed Consulting Co., Ltd. was incorporated in 2004 and is headquartered in Hangzhou, the People's Republic of China.

How the Company Makes Money

Hangzhou Tigermed Consulting Co., Ltd. generates revenue primarily through service fees associated with clinical trial management and consulting services. Its revenue model is built on a combination of project-based fees and retainer agreements with clients in the pharmaceutical and biotechnology sectors. Key revenue streams include clinical trial services, regulatory consulting, data management services, and post-marketing surveillance. Additionally, Tigermed has formed strategic partnerships with various pharmaceutical companies and research institutions, which enhance its service offerings and contribute to its earnings. The company may also benefit from government contracts and grants aimed at supporting clinical research initiatives.

Hangzhou Tigermed Consulting Co., Ltd. Class H Financial Statement Overview

Summary

Balance sheet strength and low leverage support resilience, and free cash flow is consistently positive with improved TTM FCF. However, operating performance has cooled materially versus 2021–2023 with sharp margin compression and modest ROE, and operating cash flow is less than net income in TTM, signaling weaker cash backing than ideal.

Income Statement

TTM (Trailing-Twelve-Months) revenue is roughly flat versus the prior year (about +1%), showing stabilization after the 2024 annual decline. Profitability is positive but clearly compressed versus the 2022–2023 peak: gross margin is ~27% in TTM versus ~34% in 2024 and ~39–40% in 2022–2023, while net margin is ~9% in TTM versus ~27–28% in 2022–2023. Net income rebounded in TTM versus 2024, but overall earnings quality looks more cyclical/volatile given the sharp multi-year margin swings.

Balance Sheet

The balance sheet appears conservatively financed, with low leverage across periods (TTM debt-to-equity ~0.08; 2024 ~0.13). Equity represents a large share of the capital base, providing flexibility and downside protection. The main weakness is reduced profitability on that equity base: return on equity is modest in TTM (~3%) and 2024 (~2%) compared with much stronger levels in 2021–2023, indicating the company is currently generating less return from its balance sheet strength.

Cash Flow

Cash generation is solid with positive free cash flow in all shown periods, and TTM free cash flow jumped meaningfully versus the prior year (strong growth rate). Free cash flow conversion is decent (TTM free cash flow is ~84% of net income), supporting earnings quality. A key watch item is that operating cash flow is lower relative to net income in recent periods (TTM operating cash flow to net income below 1x), suggesting working-capital or timing impacts and less cash backing for reported profits than ideal.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.56B	6.60B	7.38B	7.09B	5.21B	3.19B
Gross Profit	1.74B	2.24B	2.85B	2.81B	2.27B	1.51B
EBITDA	1.29B	1.13B	2.91B	2.93B	3.90B	1.27B
Net Income	1.02B	405.14M	2.02B	2.01B	2.87B	1.75B
Balance Sheet
Total Assets	28.78B	28.67B	29.68B	27.45B	23.74B	19.51B
Cash, Cash Equivalents and Short-Term Investments	1.71B	2.13B	7.46B	7.88B	8.57B	10.15B
Total Debt	1.75B	2.63B	2.83B	2.80B	1.19B	384.94M
Total Liabilities	4.08B	4.61B	5.23B	4.77B	3.14B	1.65B
Stockholders Equity	21.18B	20.67B	21.03B	19.58B	18.12B	16.12B
Cash Flow
Free Cash Flow	1.15B	740.45M	836.68M	908.90M	1.06B	842.18M
Operating Cash Flow	889.20M	1.10B	1.15B	1.36B	1.42B	998.68M
Investing Cash Flow	1.29B	-4.74B	-1.53B	-2.79B	-2.78B	-2.37B
Financing Cash Flow	-3.08B	-1.70B	-7.81M	809.25M	-163.09M	9.34B

Hangzhou Tigermed Consulting Co., Ltd. Class H Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 54.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3347, the sentiment is Negative. The current price of 54 is above the 20-day moving average (MA) of 49.89, above the 50-day MA of 48.57, and above the 200-day MA of 44.84, indicating a bearish trend. The MACD of -1.37 indicates Positive momentum. The RSI at 34.39 is Neutral, neither overbought nor oversold. The STOCH value of 11.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3347.

Hangzhou Tigermed Consulting Co., Ltd. Class H Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2276	72 Outperform	HK$29.20B	14.57	24.57%	0.63%	13.58%	24.59%
2367	66 Neutral	HK$31.47B	11.64	29.64%	1.84%	36.70%	22.26%
3759	63 Neutral	HK$50.71B	26.08	10.94%	1.04%	14.50%	-19.24%
3347	62 Neutral	HK$48.87B	14.14	2.72%	0.80%	-3.81%	-34.76%
6821	62 Neutral	HK$38.86B	43.80	6.00%	1.57%	12.35%	34.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Hangzhou Tigermed Consulting Co., Ltd. Class H Corporate Events

Tigermed Forecasts Surging 2025 Profit on Large Non-Recurring Gains

Hangzhou Tigermed Consulting has issued an unaudited estimate for its 2025 full-year results, projecting net profit attributable to shareholders of RMB830 million to RMB1.23 billion, representing a year-on-year increase of 105% to 204%, on expected operating revenue of RMB6.66 billion to RMB7.68 billion, up 1% to 16%. The sharp improvement in headline earnings is largely driven by a swing in non-recurring items, with non-recurring gains and losses attributable to shareholders estimated at RMB500 million to RMB740 million versus a negative RMB449.8 million a year earlier, while underlying net profit after excluding non-recurring items is expected to drop 43% to 61%, underscoring pressure on core profitability despite stable cash flow from operations and an anticipated rise in basic earnings per share to RMB0.96–1.43.

The most recent analyst rating on (HK:3347) stock is a Hold with a HK$54.00 price target. To see the full list of analyst forecasts on Hangzhou Tigermed Consulting Co., Ltd. Class H stock, see the HK:3347 Stock Forecast page.