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CanSino Biologics, Inc. Class H (HK:6185)
:6185

CanSino Biologics, Inc. Class H (6185) AI Stock Analysis

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HK:6185

CanSino Biologics, Inc. Class H

(6185)

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Neutral 47 (OpenAI - 5.2)
Rating:47Neutral
Price Target:
HK$39.00
▼(-13.22% Downside)
The score is primarily held back by weak financial performance—loss-making margins and stressed cash flow—despite some revenue growth and moderate leverage. Technicals are mixed with short-term support but weaker longer-term trend signals. Valuation is also pressured because the company is currently unprofitable (negative P/E) and no dividend yield data is available.
Positive Factors
Durable revenue streams from vaccine sales
Direct sales to governments, healthcare organizations and private clients, plus R&D collaborations and grants, create multiple, structurally recurring revenue channels. That diversity supports steadier demand and funding for vaccine development across funding cycles and geographies.
Focused vaccine R&D and pipeline
A concentrated business model on vaccine R&D and manufacturing (including lead Ad5-nCoV and candidates for TB and influenza) aligns with persistent global public health needs. This specialization builds technical know‑how and manufacturing scale that underpin long-term competitive positioning.
Moderate leverage and stable asset base
Relatively low debt (D/E ~0.29) and a stable equity ratio suggest financial flexibility to support ongoing R&D and production investments. Lower leverage reduces near-term solvency risk and preserves capacity to raise or allocate capital for strategic programs over the medium term.
Negative Factors
Loss-making operating margins
Sustained negative net income and EBIT margins undermine internal funding for trials, commercialization and scaling. Without a clear path to recurring profitability, the business remains reliant on external financing, which raises dilution and execution risk over the medium term.
Weak cash conversion and negative free cash flow
Negative FCF growth and poor conversion of accounting income into operating cash constrain the company’s ability to self-finance R&D and production. Persistent cash burn increases dependence on external capital and heightens liquidity risk during prolonged development timelines.
Profitability volatility and negative ROE
A negative ROE and historical profit volatility (peaks then downturns) signal inconsistent operational performance and capital allocation effectiveness. This makes forecasting returns and funding needs harder, increasing execution risk for long‑term commercial expansion.

CanSino Biologics, Inc. Class H (6185) vs. iShares MSCI Hong Kong ETF (EWH)

CanSino Biologics, Inc. Class H Business Overview & Revenue Model

Company DescriptionCanSino Biologics Inc. develops, manufactures, and commercializes vaccines in the People's Republic of China. The company develops Convidecia and the Ad5-nCoV for Inhalation vaccines to recombinant novel coronavirus disease; Ad5-EBOV, an Ebola virus vaccine; and MCV2 and MCV4 vaccines for the prevention of N. meningitides. It also develops DTcP vaccine for infants and DTcP Booster vaccine, which are in Phase I clinical trial for addressing the weaker protection preventing pertussis after primary vaccination. Further, the company develops Tdcp Adolescent and Adult vaccine for treating pertussis; PBPV, a serotype-independent protein-based pneumococcal vaccine that is in Phase I clinical trial; PCV13i, a pneumococcal conjugate vaccine, which is in Phase I clinical trial; and TB Booster for the BCG-vaccinated population which is in Phase I clinical trial. In addition, it is developing various preclinical stage products, including DTcP-Hib Combo vaccine; CSB012 to treat adenovirus; CSB013 for ZIKA virus; CSB015 to treat meningitis; CSB016 for treating shingles; and CSB107 for polio. CanSino Biologics Inc. was incorporated in 2009 and is headquartered in Tianjin, the People's Republic of China.
How the Company Makes MoneyCanSino Biologics generates revenue primarily through the sales of its vaccines and related biological products. Key revenue streams include direct sales of vaccines to governments, healthcare organizations, and private sector clients, both domestically and internationally. The company also benefits from research and development collaborations and partnerships with various governmental and private entities, which may involve funding, shared development costs, and revenue-sharing agreements. Additionally, CanSino's involvement in clinical trials and partnerships with global health organizations can lead to financial gains through grants and support for vaccine development initiatives.

CanSino Biologics, Inc. Class H Financial Statement Overview

Summary
Weak overall fundamentals driven by negative net income/EBIT margins and cash flow pressure (negative free cash flow growth and poor conversion of income to cash). Revenue growth is positive, and leverage is moderate (debt-to-equity 0.29), but negative ROE signals ongoing profitability challenges.
Income Statement
45
Neutral
The income statement shows a challenging financial position with negative net income and EBIT margins in the TTM. Despite a positive revenue growth rate of 8.14% in the TTM, the company struggles with profitability, as indicated by negative net profit and EBIT margins. Historical data shows significant volatility, with a peak in 2021 followed by a downturn.
Balance Sheet
55
Neutral
The balance sheet reflects moderate leverage with a debt-to-equity ratio of 0.29 in the TTM, which is an improvement from previous years. However, the return on equity remains negative, indicating inefficiencies in generating returns for shareholders. The equity ratio is relatively stable, suggesting a solid asset base.
Cash Flow
40
Negative
Cash flow analysis reveals negative free cash flow growth in the TTM, and the free cash flow to net income ratio is negative, indicating cash flow challenges. The operating cash flow to net income ratio is low, reflecting difficulties in converting income into cash. Historical cash flow volatility adds to the risk profile.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue971.73M846.34M345.18M1.03B4.30B24.89M
Gross Profit679.87M601.91M-876.02M-186.61M3.00B4.74M
EBITDA-77.16M-134.84M-1.65B-1.32B1.85B-498.75M
Net Income-142.04M-378.88M-1.48B-909.43M1.91B-396.64M
Balance Sheet
Total Assets7.30B7.96B9.32B11.47B11.87B6.75B
Cash, Cash Equivalents and Short-Term Investments2.47B3.20B4.12B5.95B7.78B5.11B
Total Debt1.43B2.01B2.70B2.70B1.37B142.54M
Total Liabilities2.37B3.05B4.03B4.22B3.33B677.22M
Stockholders Equity4.93B4.91B5.27B6.75B8.00B6.07B
Cash Flow
Free Cash Flow-149.59M-626.42M-1.53B-2.96B811.42M-740.16M
Operating Cash Flow162.32M-168.79M-916.25M-1.89B2.01B-469.39M
Investing Cash Flow313.91M3.96M-449.65M-1.19B-2.53B-182.71M
Financing Cash Flow-725.18M-334.18M-7.58M854.60M1.56B4.94B

CanSino Biologics, Inc. Class H Technical Analysis

Technical Analysis Sentiment
Negative
Last Price44.94
Price Trends
50DMA
37.74
Negative
100DMA
42.82
Negative
200DMA
40.63
Negative
Market Momentum
MACD
-0.40
Positive
RSI
41.79
Neutral
STOCH
17.40
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6185, the sentiment is Negative. The current price of 44.94 is above the 20-day moving average (MA) of 37.12, above the 50-day MA of 37.74, and above the 200-day MA of 40.63, indicating a bearish trend. The MACD of -0.40 indicates Positive momentum. The RSI at 41.79 is Neutral, neither overbought nor oversold. The STOCH value of 17.40 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6185.

CanSino Biologics, Inc. Class H Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
HK$233.73B44.4616.09%0.97%8.68%0.82%
72
Outperform
HK$31.92B11.3314.91%4.09%-0.45%9.00%
68
Neutral
HK$28.59B9.405.90%2.95%
61
Neutral
HK$44.07B9.607.86%7.15%1.13%-13.53%
53
Neutral
HK$74.73B15.556.75%1.69%-1.12%76.16%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
47
Neutral
HK$13.51B-57.08-2.79%29.21%80.37%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:6185
CanSino Biologics, Inc. Class H
35.34
6.99
24.66%
HK:0874
Guangzhou Baiyunshan Pharmaceutical Holdings Company
18.98
2.02
11.93%
HK:1513
Livzon Pharmaceutical Group
29.40
4.06
16.04%
HK:2196
Shanghai Fosun Pharmaceutical (Group) Co
20.42
7.81
61.90%
HK:3320
China Resources Pharmaceutical Group Ltd.
4.55
-0.51
-10.08%
HK:3692
Hansoh Pharmaceutical Group Company Limited
38.60
21.00
119.32%

CanSino Biologics, Inc. Class H Corporate Events

CanSino Biologics Forecasts 2025 Revenue Growth and Return to Profit
Jan 27, 2026

CanSino Biologics has issued a forecast for 2025 indicating that revenue is expected to rise to between RMB1.04 billion and RMB1.08 billion, representing year-on-year growth of roughly 23% to 28%, driven largely by strong uptake of its Menhycia® MCV4 vaccine and enhanced commercialization efforts. The company expects to swing from a substantial loss in 2024 to a net profit attributable to shareholders of RMB24.5 million to RMB29.0 million in 2025, although it still anticipates a net loss after deducting non-recurring items, reflecting the significant impact of government grants and international funding on headline earnings; improved cost control, better coordination between production and sales, and higher gross margins underpin the improved profitability outlook and signal a strengthening operational and competitive position in China’s vaccine market.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$38.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Wins China Trial Nod for First-in-Class 24-Valent Pneumococcal Vaccine
Jan 5, 2026

CanSino Biologics Inc. has received approval from China’s National Medical Products Administration to begin clinical trials for its 24-valent Pneumococcal Polysaccharide Conjugate Vaccine (PCV24), which is designed to protect individuals aged six weeks and older against diseases caused by 24 pneumococcal serotypes. The candidate, which uses covalent conjugation and dual carrier technology and has completed key production and formulation development steps, would be the first 24-valent pneumococcal conjugate vaccine on the global market if successfully developed, potentially strengthening CanSino’s competitive positioning in the high-value pneumococcal vaccine segment and signaling an important pipeline milestone for investors and industry stakeholders.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$35.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Starts Phase I Trial of New Pediatric Combined Vaccine
Dec 19, 2025

CanSino Biologics has initiated a Phase I clinical trial for its DTcP-Hib-MCV4 combined vaccine, which targets diphtheria, tetanus, acellular pertussis, Haemophilus influenzae type b and meningococcal groups ACYW135, and has completed enrollment of the first patient. The trial, designed to evaluate safety and immunogenicity in children aged two months to six years, is part of the company’s strategy to expand its combined vaccine portfolio and secure a differentiated competitive position in the pediatric vaccine market, though the company cautioned investors to exercise care when trading its shares at this stage of development.

The most recent analyst rating on (HK:6185) stock is a Sell with a HK$37.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Implements Governance Changes Post-EGM
Nov 27, 2025

CanSino Biologics Inc. announced the successful passage of all resolutions at its 2025 second extraordinary general meeting, including amendments to the Articles of Association and the election of new independent non-executive directors. These changes, effective from November 27, 2025, are expected to enhance the company’s governance structure and strategic direction, potentially impacting its market positioning and stakeholder engagement.

The most recent analyst rating on (HK:6185) stock is a Sell with a HK$37.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Launches Phase I Trial for Inhaled TB Booster in Indonesia
Nov 13, 2025

CanSino Biologics Inc. has initiated a Phase I clinical trial in Indonesia for its inhaled tuberculosis booster vaccine, marking the completion of the first patient enrollment. This innovative vaccine aims to enhance the efficacy of the existing Bacillus Calmette-Guerin vaccine by stimulating a stronger immune response in the lungs, potentially controlling latent infections and preventing new ones. The trial will assess the safety and immunogenicity of the vaccine in adults, leveraging the company’s expertise in inhalation technology developed for COVID-19 vaccines.

The most recent analyst rating on (HK:6185) stock is a Buy with a HK$64.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics to Revamp Governance and Appoint New Directors at 2025 EGM
Nov 11, 2025

CanSino Biologics Inc. has announced its 2025 second extraordinary general meeting, where significant amendments to corporate governance policies and the company’s Articles of Association will be discussed. The meeting will also address the appointment of new independent non-executive directors and the utilization of reserves to offset losses, indicating a strategic move to strengthen its governance framework and financial stability.

The most recent analyst rating on (HK:6185) stock is a Buy with a HK$64.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics to Offset Losses with Reserves
Nov 7, 2025

CanSino Biologics Inc. has announced a proposal to use its reserves to offset accumulated losses amounting to approximately RMB1.45 billion as of December 31, 2024. This strategic move, approved by the Board of Directors and pending shareholder approval, aims to enhance the company’s ability to deliver investor returns and support its high-quality development by reducing its accumulated losses to zero.

The most recent analyst rating on (HK:6185) stock is a Buy with a HK$64.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Enhances Governance with New Committee
Oct 27, 2025

CanSino Biologics Inc. has established a Remuneration and Assessment Committee to enhance its corporate governance structure. This committee is responsible for evaluating the performance and remuneration of directors and senior management, which is expected to improve transparency and accountability within the company.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$41.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Proposes Governance Restructuring
Oct 27, 2025

CanSino Biologics Inc. has announced significant changes to its corporate governance structure, including the proposed cancellation of its Board of Supervisors and amendments to its Articles of Association and corporate governance rules. These changes aim to enhance the company’s governance standards and streamline operations, with the audit committee taking over the functions of the Board of Supervisors. The proposed changes are subject to approval by shareholders at an extraordinary general meeting.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$41.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Strengthens Governance with New Audit Committee
Oct 27, 2025

CanSino Biologics Inc. has established an Audit Committee to enhance its governance structure and ensure effective oversight and management by the board of directors. This move is aimed at improving the company’s internal control systems, facilitating communication with external audit firms, and assessing risks related to significant investments. The committee will consist of non-executive directors, with a majority being independent, to ensure unbiased supervision and verification of audits.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$41.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Inc. Enhances Governance with New Nomination Committee
Oct 27, 2025

CanSino Biologics Inc. has established a Nomination Committee to enhance its corporate governance by standardizing the nomination procedures for directors and senior management. This move aims to improve the board’s composition and align with relevant regulations, potentially strengthening the company’s governance structure and market position.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$41.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

CanSino Biologics Reports Strong Q3 Financial Performance
Oct 27, 2025

CanSino Biologics Inc. has released its unaudited third-quarter financial report for the nine months ending September 30, 2025, showing a significant increase in operating revenue and net profit compared to the previous year. The company’s operating revenue rose by 22.13% to RMB 692.57 million, and net profit attributable to shareholders surged by 842.01% to RMB 14.44 million, indicating strong financial performance and potential positive implications for investors and stakeholders.

The most recent analyst rating on (HK:6185) stock is a Hold with a HK$41.00 price target. To see the full list of analyst forecasts on CanSino Biologics, Inc. Class H stock, see the HK:6185 Stock Forecast page.

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.Date of analysis: Jan 27, 2026