The United Laboratories International Holdings Limited (HK:3933)
:3933
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The United Laboratories International Holdings
(3933)
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Rating:61Neutral
Price Target:
HK$8.50
â–¼(-27.60% Downside)
Action:Reiterated
Date:05/03/26
The score is anchored by moderate financial performance (recent revenue decline, margin/ROE pressure, and weak cash conversion) and weak technicals (below key moving averages with negative MACD). These are partially offset by attractive valuation (low P/E and strong dividend yield).
Positive Factors
Gross margin resilience
A ~42% gross margin in 2025 indicates durable product-level profitability and pricing power. Sustained high gross margins provide a cushion against cost inflation, support R&D and commercialization spend, and make earnings less sensitive to modest revenue swings over the next 2–6 months.
Negative Factors
Recent revenue decline
An ~8.7% revenue decline in 2025 signals meaningful demand or competitive pressure that erodes growth momentum. Sustained top-line weakness reduces operating leverage, constrains reinvestment in R&D and commercialization, and makes medium-term recovery dependent on successful product or market initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin resilience
A ~42% gross margin in 2025 indicates durable product-level profitability and pricing power. Sustained high gross margins provide a cushion against cost inflation, support R&D and commercialization spend, and make earnings less sensitive to modest revenue swings over the next 2–6 months.
Read all positive factors
The United Laboratories International Holdings (3933) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$16.24B
Dividend Yield5.11%
Average Volume (3M)9.98M
Price to Earnings (P/E)6.3
Beta (1Y)0.82
Revenue Growth-4.09%
EPS Growth-22.73%
CountryHK
Employees17,000
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)1.14
Shares Outstanding1,973,026,500
10 Day Avg. Volume7,816,257
30 Day Avg. Volume9,977,158
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)1.13
Price to Sales (P/S)1.49
P/FCF Ratio22.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$15.57Price Target Upside32.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.64
Revenue Forecast (FY)HK$12.79B
The United Laboratories International Holdings Business Overview & Revenue Model
Company Description
The United Laboratories International Holdings Limited functions as an investment holding company with a primary focus on the pharmaceutical sector. Its multifaceted operations cover the entire lifecycle of drug development and commercialization, ...
How the Company Makes Money
The company primarily makes money by selling pharmaceutical products, generating revenue from the commercialization of its drug portfolio. Its revenue model is largely product-sales driven, with income recognized from the sale and distribution of ...
The United Laboratories International Holdings Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.21B | 13.76B | 13.74B | 11.33B | 9.70B |
| Gross Profit | 5.51B | 6.08B | 6.33B | 4.97B | 4.21B |
| EBITDA | 2.83B | 3.35B | 3.98B | 2.54B | 1.98B |
| Net Income | 2.09B | 2.66B | 2.70B | 1.58B | 988.10M |
Balance Sheet | |||||
| Total Assets | 30.91B | 25.83B | 21.02B | 18.98B | 16.33B |
| Cash, Cash Equivalents and Short-Term Investments | 11.24B | 6.33B | 4.26B | 4.74B | 3.33B |
| Total Debt | 4.99B | 3.16B | 1.50B | 2.46B | 1.84B |
| Total Liabilities | 13.34B | 11.40B | 8.27B | 8.37B | 6.99B |
| Stockholders Equity | 17.40B | 14.39B | 12.73B | 10.61B | 9.34B |
Cash Flow | |||||
| Free Cash Flow | 855.45M | 1.33B | 977.50M | 1.25B | 1.06B |
| Operating Cash Flow | 3.75B | 3.20B | 2.44B | 2.03B | 1.54B |
| Investing Cash Flow | -2.17B | -1.73B | -1.56B | -594.92M | -587.22M |
| Financing Cash Flow | 2.78B | 596.91M | -1.36B | -24.17M | -620.93M |
The United Laboratories International Holdings Technical Analysis
Negative
11.74
Price Trends
9.11
Negative
10.38
Negative
11.85
Negative
Market Momentum
-0.27
Negative
37.90
Neutral
30.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3933, the sentiment is Negative. The current price of 11.74 is above the 20-day moving average (MA) of 8.50, above the 50-day MA of 9.11, and below the 200-day MA of 11.85, indicating a bearish trend. The MACD of -0.27 indicates Negative momentum. The RSI at 37.90 is Neutral, neither overbought nor oversold. The STOCH value of 30.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3933.
The United Laboratories International Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$10.26B | 8.52 | 24.26% | 3.93% | 15.28% | 14.76% | |
72 Outperform | HK$26.30B | 12.81 | 13.95% | 4.09% | 1.48% | -1.55% | |
63 Neutral | HK$24.22B | 14.12 | 8.65% | 2.26% | 10.00% | -7.54% | |
61 Neutral | HK$16.24B | 6.27 | 12.65% | 5.11% | -4.09% | -22.73% | |
58 Neutral | HK$27.08B | 6.07 | 7.98% | 2.95% | 4.66% | 20.76% | |
57 Neutral | HK$16.22B | 13.04 | 7.26% | 3.13% | 5.48% | -49.67% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:3933
The United Laboratories International Holdings
8.23
-6.18
-42.91%
HK:0867
China Medical System Holdings
9.93
-1.77
-15.16%
HK:1513
Livzon Pharmaceutical Group
23.40
-4.33
-15.61%
HK:3320
China Resources Pharmaceutical Group Ltd.
4.31
-0.58
-11.84%
HK:1681
Consun Pharmaceutical Group Ltd.
12.48
1.71
15.88%
HK:0512
Grand Pharmaceutical Group Limited
4.57
-3.86
-45.78%
The United Laboratories International Holdings Corporate Events
United Laboratories Wins Strong Shareholder Backing at 2026 AGM, Approves Dividend and Capital Mandates
Jun 23, 2026
Shareholders of The United Laboratories International Holdings Limited approved all resolutions at the 2026 annual general meeting, including the adoption of the 2025 audited financial statements and the declaration of a final dividend of RMB0.26 ...
United Laboratories Wins China Approval to Start Trials of New Autoimmune Drug TUL321
Jun 11, 2026
The United Laboratories International Holdings has received approval from China’s National Medical Products Administration to begin clinical trials of TUL321 Capsules, a Class 1 new drug developed by its wholly owned subsidiary Zhuhai United...
United Laboratories Plans HK$200 Million Share Buy-Back to Boost Shareholder Value
Jun 11, 2026
The United Laboratories International Holdings has announced a voluntary plan to repurchase up to HK$200 million of its ordinary shares on the open market under an existing general mandate. The repurchased shares will be cancelled and the buy-back...
United Laboratories Wins China, U.S. Approvals to Advance New Anti-Infective Drug TUL108
May 19, 2026
The United Laboratories International Holdings has secured approval from China’s National Medical Products Administration to begin clinical trials of TUL108 for Injection, a self-developed Class 1 innovative drug. TUL108 is a broad-spectrum ...
United Laboratories Sets Out Board and Committee Structure
May 15, 2026
The United Laboratories International Holdings Limited has outlined the composition of its board of directors, naming its executive and independent non-executive members and confirming key leadership roles such as chairman and vice-chairman. The c...
United Laboratories Executive Director Zhu Su Yan Resigns After Three Decades of Service
May 15, 2026
The United Laboratories International Holdings announced that long-serving executive director Zhu Su Yan has resigned from the board with effect from 15 May 2026 to focus on personal matters. The company stated that Zhu has no disagreement with th...
United Laboratories Wins Green Light for Trial of Once-Weekly Insulin UBT38006
May 7, 2026
The United Laboratories International Holdings announced that China’s National Medical Products Administration has approved a clinical trial application for UBT38006 Injection, a self-developed Class 1 innovative long-acting insulin from its...
United Laboratories Sets June 2026 AGM, Seeks Fresh Share Issuance Mandate
Apr 29, 2026
The United Laboratories International Holdings has called its annual general meeting for 23 June 2026 in Hong Kong, where shareholders will review and adopt the audited financial statements and directors’ and auditor’s reports for the ...
United Laboratories Wins U.S. FDA IND Nod for New Autoimmune Drug TUL321
Apr 28, 2026
The United Laboratories International Holdings has obtained U.S. FDA approval for an investigational new drug application for TUL321 Capsules, a self-developed Class 1 complement factor B inhibitor, while its clinical trial registration in China h...
United Laboratories Wins China Approval to Trial Dupilumab Biosimilar for Atopic Dermatitis
Apr 22, 2026
The United Laboratories International Holdings Limited, through its wholly owned subsidiary Zhuhai United Bio-Pharmaceutical, operates in the biopharmaceutical sector with a focus on innovative therapies for inflammatory and autoimmune conditions....
United Laboratories Clarifies Dividend Wording in 2025 Results Notice
Mar 31, 2026
The United Laboratories International Holdings has issued a clarification to its previously published annual results announcement for the year ended 31 December 2025, correcting an error in the description of its dividend arrangements. The company...
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.
Disclaimer
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.