SinoMab Bioscience Ltd. (HK:3681)
:3681
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SinoMab Bioscience Ltd.
(3681)
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Rating:44Neutral
Price Target:
HK$1.50
â–²(7.91% Upside)
Action:Reiterated
Date:05/02/26
The score is held down primarily by weak financial performance (ongoing losses, cash burn, and revenue collapse to zero in 2025) and bearish technicals (price below key moving averages with negative MACD). Improved leverage and a narrower 2025 loss provide some offset, but negative earnings and no indicated dividend limit valuation support.
Positive Factors
Focused antibody R&D and commercialization strategy
A dedicated monoclonal-antibody R&D and commercialization model provides durable product-lead growth optionality. The firm's strategy to develop antibodies and pursue independent or partnered commercialization reduces standalone commercialization capital needs and preserves strategic flexibility over a multi‑year development cycle.
Negative Factors
Zero reported revenue in 2025
A full-year revenue collapse to zero indicates the company lacks commercialized products and remains purely development‑stage. This structurally shifts valuation and sustainability onto successful clinical outcomes or partner deals; absent near‑term approvals, the business faces long timelines before operating revenue can underpin costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Focused antibody R&D and commercialization strategy
A dedicated monoclonal-antibody R&D and commercialization model provides durable product-lead growth optionality. The firm's strategy to develop antibodies and pursue independent or partnered commercialization reduces standalone commercialization capital needs and preserves strategic flexibility over a multi‑year development cycle.
Read all positive factors
SinoMab Bioscience Ltd. (3681) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.82B
Dividend YieldN/A
Average Volume (3M)6.26M
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth-100.00%
EPS Growth50.29%
CountryHK
Employees95
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.09
Shares Outstanding1,386,638,300
10 Day Avg. Volume8,278,616
30 Day Avg. Volume6,255,789
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)2.91
Price to Sales (P/S)0.00
P/FCF Ratio-15.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.21
Revenue Forecast (FY)HK$8.71M
SinoMab Bioscience Ltd. Business Overview & Revenue Model
Company Description
SinoMab BioScience Limited, a biopharmaceutical company, engages in the research, development, manufacture, and commercialization of therapeutics for the treatment of immunological diseases primarily monoclonal antibody (mAb)-based biologics. Its ...
How the Company Makes Money
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SinoMab Bioscience Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
43
Neutral
Cash Flow
26
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 2.03M | 1.36M | 4.03M | 26.66M |
| Gross Profit | 0.00 | 543.00K | 422.00K | 4.03M | 26.66M |
| EBITDA | -124.70M | -142.79M | -200.46M | -244.29M | -296.43M |
| Net Income | -102.27M | -185.14M | -243.11M | -284.16M | -288.19M |
Balance Sheet | |||||
| Total Assets | 908.50M | 753.10M | 847.79M | 1.01B | 1.04B |
| Cash, Cash Equivalents and Short-Term Investments | 382.40M | 106.88M | 234.66M | 376.19M | 589.53M |
| Total Debt | 338.64M | 482.27M | 450.81M | 357.18M | 275.46M |
| Total Liabilities | 400.41M | 560.19M | 552.20M | 498.77M | 361.43M |
| Stockholders Equity | 508.10M | 192.91M | 295.58M | 509.57M | 680.23M |
Cash Flow | |||||
| Free Cash Flow | -95.78M | -172.30M | -237.74M | -413.29M | -345.30M |
| Operating Cash Flow | -70.48M | -130.80M | -133.85M | -300.54M | -147.06M |
| Investing Cash Flow | 16.25M | -94.48M | -96.92M | -81.36M | -137.70M |
| Financing Cash Flow | 329.39M | 73.27M | 82.27M | 102.28M | 57.52M |
SinoMab Bioscience Ltd. Technical Analysis
Negative
1.39
Price Trends
1.63
Negative
1.62
Negative
1.86
Negative
Market Momentum
-0.08
Positive
40.84
Neutral
26.16
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 1.39 is below the 20-day moving average (MA) of 1.44, below the 50-day MA of 1.63, and below the 200-day MA of 1.86, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 40.84 is Neutral, neither overbought nor oversold. The STOCH value of 26.16 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$38.67B | ― | 25.67% | ― | 16.65% | 0.87% | |
56 Neutral | HK$65.25B | 36.25 | 32.32% | ― | 80.08% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$7.99B | 9.33 | 24.17% | ― | 154.21% | ― | |
50 Neutral | HK$39.90B | -256.36 | -10.78% | ― | 34.19% | 47.97% | |
47 Neutral | HK$3.87B | -3.21 | -137.11% | ― | ― | 0.47% | |
44 Neutral | HK$1.82B | -7.60 | -27.70% | ― | -100.00% | 50.29% |
* Healthcare Sector Average
HK:3681
SinoMab Bioscience Ltd.
1.32
0.04
3.13%
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36.72%
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4.43
-0.04
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Jiangsu Recbio Technology Co., Ltd. Class H
5.15
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-43.16%
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Shanghai Henlius Biotech, Inc. Class H
71.15
27.65
63.56%
SinoMab Bioscience Ltd. Corporate Events
SinoMab Showcases Promising Preclinical Data for Novel Antibody in Alopecia and Vitiligo
May 14, 2026
SinoMab BioScience has presented preclinical data on its first-in-class humanised anti-gamma chain (gc) antibody hC2 at the 2026 Society for Investigative Dermatology meeting in Chicago, highlighting its potential as a differentiated biologic ther...
SinoMab Sets 2026 AGM to Renew Board, Auditor and Share Capital Mandates
Apr 27, 2026
SinoMab BioScience Limited has called its 2026 annual general meeting for 12 June 2026 in Hong Kong, where shareholders will review the 2025 audited financial statements and reports, vote on the re-election of several directors, and approve direct...
SinoMab Starts Phase 2 Trial of IL‑25 Antibody SM17 in Chinese Atopic Dermatitis Patients
Apr 1, 2026
SinoMab BioScience has begun dosing the first patient in a Phase 2 clinical trial of its key asset SM17 for moderate‑to‑severe atopic dermatitis in China, marking a key advance in its dermatology portfolio. The multi‑center, rand...
SinoMab Updates Board and Committee Structure to Clarify Governance Roles
Apr 1, 2026
SinoMab BioScience Limited has announced the current composition of its board of directors, which includes a chairman and chief executive officer serving as executive director, two non-executive directors and five independent non-executive directo...
SinoMab BioScience Announces Resignations of Two Non-Executive Directors
Mar 31, 2026
SinoMab BioScience has announced that non-executive directors Dr. Haigang Chen and Mr. Xun Dong will resign from the board, effective 31 March 2026 and 1 April 2026 respectively, citing the need to focus on personal affairs and other work and busi...
SinoMab Bioscience Sets Out Board and Committee Structure
Mar 31, 2026
SinoMab BioScience Limited has announced the current composition of its board of directors, led by Executive Director Dr. Shui On Leung, who serves as both chairman and chief executive officer alongside a mix of non-executive and independent non-e...
SinoMab Reports Positive Phase 1 Data for Subcutaneous SM17 in China
Mar 25, 2026
SinoMab BioScience has reported positive topline data from a Phase 1 bridging study in China evaluating a new subcutaneous formulation of its lead antibody SM17 in healthy participants. The study, which compared single ascending subcutaneous doses...
SinoMab Grants 11.6 Million Share Options to Key Employees
Mar 24, 2026
SinoMab BioScience has granted 11,574,840 share options to two employees, including one senior management member, under its 2022 Share Option Scheme, with each option exercisable at HK$1.94 and convertible into one new share. The options, which ve...
SinoMab Narrows Loss as Key Antibody Programs Advance and Funding Base Expands
Mar 23, 2026
SinoMab reported notable clinical and RD progress in 2025, led by its key asset SM17, a first-in-class humanised monoclonal antibody against the IL-25 receptor, which delivered positive Phase 1b topline results in moderate-to-severe atopic dermati...
SinoMab Ends Haikou Lease as It Shifts to Asset-Light Manufacturing Model
Mar 12, 2026
SinoMab BioScience has agreed to terminate a 20-year lease for its Haikou manufacturing facility with connected party Haikou Pharmaceutical, effective 12 March 2026, requiring its subsidiaries to vacate the premises within 15 days. The move follow...
SinoMab BioScience Sets March Board Meeting to Approve 2025 Annual Results
Mar 10, 2026
SinoMab BioScience Limited has scheduled a board meeting for 23 March 2026 to review, consider and approve the audited final results of the group for the financial year ended 31 December 2025. The board will also address any other business at the ...
SinoMab Wins China IND Nod to Expand SM17 Into Inflammatory Bowel Disease
Feb 24, 2026
SinoMab BioScience has received approval from China’s National Medical Products Administration for an investigational new drug application to test SM17 in inflammatory bowel disease, expanding the molecule’s scope beyond atopic dermati...
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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This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.