SinoMab Bioscience Ltd. (3681) AI Stock Analysis

• Market Cap: HK$2.05B
• Dividend Yield: N/A
• Average Volume (3M): 6.26M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.42
• Revenue Growth: -100.00%
• EPS Growth: 30.68%
• Country: HK
• Employees: 95
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.06
• Shares Outstanding: 1,386,638,300
• 10 Day Avg. Volume: 8,278,616
• 30 Day Avg. Volume: 6,255,789
• PEG Ratio: 0.20
• Price to Book (P/B): 5.70
• Price to Sales (P/S): 542.51
• P/FCF Ratio: -6.38
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: HK$1.50 ▲(0.67% Upside)

SinoMab Bioscience Ltd. has a challenging financial outlook with persistent losses and high financial leverage. The technical indicators suggest a bearish trend, and the valuation metrics highlight ongoing profitability issues. These factors collectively result in a low overall stock score.

Positive Factors

Revenue Growth

The significant revenue growth indicates potential market acceptance and expansion opportunities for SinoMab's products, which could enhance long-term financial stability if sustained.

Product Pipeline

SinoMab's focus on innovative therapies for unmet medical needs positions it well within the growing biotech sector, potentially driving future revenue and market share.

Strategic Partnerships

Strategic partnerships can enhance market access and provide additional revenue streams, supporting SinoMab's growth and operational scalability over the long term.

Negative Factors

Financial Leverage

High financial leverage increases risk, potentially limiting SinoMab's ability to invest in growth opportunities and affecting its financial stability.

Cash Flow Challenges

Negative cash flow from operations indicates liquidity issues, which could constrain SinoMab's ability to fund R&D and operational activities, impacting long-term viability.

Operational Inefficiencies

Negative margins highlight operational inefficiencies, suggesting that SinoMab may struggle to achieve profitability without significant strategic changes.

SinoMab Bioscience Ltd. Business Overview & Revenue Model

Company Description

SinoMab Bioscience Ltd. (3681) is a biopharmaceutical company based in Hong Kong, focused on the research, development, and commercialization of innovative monoclonal antibody therapies for the treatment of autoimmune diseases and cancers. The company operates primarily in the biotechnology sector, leveraging its proprietary technologies to develop a pipeline of therapeutics aimed at addressing unmet medical needs. SinoMab's core products include monoclonal antibodies that are currently in various stages of clinical development, targeting conditions such as rheumatoid arthritis and other immune-mediated disorders.

How the Company Makes Money

SinoMab Bioscience generates revenue primarily through the commercialization of its biopharmaceutical products, including sales of its monoclonal antibody therapies upon gaining regulatory approval and entering the market. Additionally, the company may earn revenue through licensing agreements, partnerships with larger pharmaceutical firms, and research collaborations that facilitate the development and distribution of its products. Key revenue streams include milestone payments from partners, royalties on product sales, and potential government or private grants for research and development. Furthermore, strategic partnerships with organizations that have established distribution networks can enhance market access and contribute significantly to the company's earnings.

SinoMab Bioscience Ltd. Financial Statement Overview

Summary

SinoMab Bioscience Ltd. faces significant financial challenges, with persistent net losses and negative operating cash flows. The company's financial leverage is high, posing risks to financial stability. While revenue shows some growth, it remains inadequate to offset operational losses, suggesting a need for strategic shifts to improve profitability and cash generation.

Income Statement

SinoMab Bioscience Ltd. shows a volatile revenue trend and consistently negative EBIT and EBITDA margins, indicating operational inefficiencies and challenges in reaching profitability. Revenue grew by 48.4% from 2023 to 2024 but remains insufficient to cover operational costs.

Balance Sheet

The company has a high debt-to-equity ratio of 2.5 as of 2024, reflecting financial leverage that poses potential risks. Stockholders' equity has declined, but the equity ratio remains relatively stable at around 25.6%, indicating some degree of financial stability.

Cash Flow

Operating cash flow remains negative, and free cash flow deterioration continues, although there was a slight reduction in negative free cash flow from 2023 to 2024. The company struggles to generate cash from operations relative to net income, which is a concern for liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-4.05M	2.03M	1.36M	4.03M	26.66M	12.76M
Gross Profit	-4.05M	543.00K	422.00K	4.03M	26.66M	12.76M
EBITDA	-116.76M	-142.79M	-200.46M	-244.29M	-296.43M	-158.61M
Net Income	-144.34M	-185.14M	-243.11M	-284.16M	-288.19M	-122.60M
Balance Sheet
Total Assets	722.09M	753.10M	847.79M	1.01B	1.04B	1.13B
Cash, Cash Equivalents and Short-Term Investments	143.10M	106.88M	234.66M	376.19M	589.53M	916.20M
Total Debt	408.11M	482.27M	450.81M	357.18M	275.46M	97.84M
Total Liabilities	478.80M	560.19M	552.20M	498.77M	361.43M	142.51M
Stockholders Equity	243.29M	192.91M	295.58M	509.57M	680.23M	987.01M
Cash Flow
Free Cash Flow	-59.02M	-172.30M	-237.74M	-413.29M	-345.30M	-217.29M
Operating Cash Flow	-87.12M	-130.80M	-133.85M	-300.54M	-147.06M	-141.34M
Investing Cash Flow	17.14M	-94.48M	-96.92M	-81.36M	-137.70M	-179.22M
Financing Cash Flow	18.09M	73.27M	82.27M	102.28M	57.52M	-18.81M

SinoMab Bioscience Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3681, the sentiment is Negative. The current price of 1.49 is below the 20-day moving average (MA) of 1.53, below the 50-day MA of 1.62, and below the 200-day MA of 1.86, indicating a bearish trend. The MACD of -0.05 indicates Negative momentum. The RSI at 41.69 is Neutral, neither overbought nor oversold. The STOCH value of 63.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3681.

SinoMab Bioscience Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2696	66 Neutral	HK$32.53B	37.04	27.37%	―	2.57%	18.79%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
3681	45 Neutral	HK$2.05B	-10.23	-55.33%	―	-100.00%	30.68%
1877	43 Neutral	HK$36.27B	-22.40	-15.06%	―	38.56%	48.26%
2157	40 Underperform	HK$9.81B	-47.25	-21.42%	―	240.05%	-140.09%
9995	40 Underperform	HK$47.26B	-41.06	-39.64%	―	46.14%	39.56%
2179	39 Underperform	HK$2.63B	-3.72	-129.05%	―	―	-18.99%

SinoMab Bioscience Ltd. Corporate Events

SinoMab Doses First Cohort with Subcutaneous SM17 in China Study

SinoMab BioScience Limited announced the successful dosing of the first cohort of healthy subjects with the subcutaneous formulation of its novel monoclonal antibody, SM17, in a bridging study in China. This study aims to evaluate the safety, tolerability, and pharmacokinetics of SM17, which targets the IL-25 receptor to modulate immune responses in autoimmune and inflammatory diseases. The subcutaneous form of SM17 is expected to improve patient compliance and administration convenience, positioning it as a potentially safer and more effective treatment for atopic dermatitis compared to existing therapies.

SinoMab BioScience Announces New Company Secretary Appointment

SinoMab BioScience Limited announced a change in its company secretary position, with Ms. Chow Yuk Yin Ivy resigning and Ms. Lai Florence Wai Ki being appointed as her replacement, effective October 8, 2025. This transition is expected to strengthen the company’s corporate compliance and advisory capabilities, given Ms. Lai’s extensive experience and professional background.