Genor Biopharma Holdings Limited (6998) AI Stock Analysis

• Market Cap: HK$5.20B
• Dividend Yield: N/A
• Average Volume (3M): 909.38K
• Price to Earnings (P/E): 58.3
• Beta (1Y): 0.40
• Revenue Growth: 1447.56%
• EPS Growth: N/A
• Country: HK
• Employees: 24
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.11
• Shares Outstanding: 2,011,213,700
• 10 Day Avg. Volume: 879,300
• 30 Day Avg. Volume: 909,383
• PEG Ratio: 0.18
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 4.05
• P/FCF Ratio: -6.75
• 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: 50 Neutral
• Price Target: HK$2.50 ▼(-18.30% Downside)

The score is primarily constrained by ongoing losses and continued cash burn despite the 2024 revenue rebound, while technicals are weak with price below major moving averages and bearish MACD. Valuation also limits upside, with a high P/E and no dividend support.

Positive Factors

Revenue rebound & high gross margin

A sharp 2024 revenue rebound coupled with extremely high gross margin indicates the company has begun commercial traction with biologic products. High gross margins are durable for biologics, supporting cash conversion and providing a pathway to lasting profitability if operating costs are controlled.

Conservative leverage

Near-zero debt gives the company financial flexibility to fund R&D and manufacturing scale-up without heavy interest burden. For a biotech still investing in commercialization, low leverage reduces insolvency risk and preserves optionality for strategic investments or non-dilutive financing.

Integrated biologics value chain

In-house R&D plus large-scale manufacturing creates an integrated model that reduces outsourcing risk, shortens time-to-market, and can sustain higher long-term margins. This vertical integration is a durable competitive advantage in biosimilars and antibody therapeutics.

Negative Factors

Sustained negative cash flow

Persistent negative operating and free cash flow means the business depends on external funding or existing liquidity to sustain operations. Over a multi-month horizon this raises financing and dilution risk and constrains capacity to invest in commercialization without securing stable cash generation.

Equity dilution / declining equity

Declining equity reflects repeated operating losses and likely equity raises, which dilute shareholder value and can undermine long-term returns. Continued dilution makes it harder to attract capital on favorable terms and signals execution or profitability difficulties that persist beyond short-term cycles.

Profitability not yet established

Negative net margins and EBITDA show earnings quality is not yet established despite revenue growth. Without consistent profitable operations, the firm remains exposed to execution risk; achieving sustained positive EBIT/EBITDA is required for long-term free cash flow and to reduce reliance on external funding.

Genor Biopharma Holdings Limited Business Overview & Revenue Model

Company Description

Genor Biopharma Holdings Limited, a biopharmaceutical company, focuses on developing and commercializing oncology and autoimmune drugs in China and internationally. The company's principal drug candidates include GB242, an infliximab (Remicade) biosimilar for the treatment of rheumatoid arthritis, ankylosing spondylitis, psoriasis, adult ulcerative colitis, adult and pediatric crohn's disease, and fistulising crohn's disease; GB491 (lerociclib), an oral CDK4/6 inhibitor for treating hormone receptor-positive (HR+)/HER2- breast cancer and is under Phase III clinical trials; and GB492, a stimulator of interferon genes (STING) agonist expected to exert synergistic effects in combination with GB226 for solid tumors and is under Phase 1/2 clinical trial. Further, it develops GB221, a herceptin (trastuzumab)-mimic HER2 monoclonal antibody (mAb) drug candidate; geptanolimab (GB226), a novel PD-1 mAb drug candidate; GB223, a receptor activator of nuclear factor-B Ligand (RANKL) mAb drug candidate, which is under Phase I clinical trial; and GB261 to treat B-cell non-Hodgkin Lymphoma and is under Phase I Clinical trials. In addition, the company's product candidates under clinical trials include GB262, GB264, GB265, and GB 266 for the treatment of cancer. Genor Biopharma Holdings Limited was formerly known as JHBP (CY) Holdings Limited and changed its name to Genor Biopharma Holdings Limited in June 2021. The company was founded in 2007 and is headquartered in Shanghai, China.

How the Company Makes Money

Genor Biopharma Holdings Limited generates revenue primarily through the commercialization of its proprietary biologic drugs and therapeutic products. The company’s revenue model includes sales of its approved drugs, licensing agreements, and strategic collaborations or partnerships with other pharmaceutical companies. These partnerships often involve co-development and co-commercialization arrangements, which can provide upfront payments, milestone payments, and royalties. Additionally, Genor Biopharma may engage in research and development service contracts, contributing further to its revenue streams. The company leverages its scientific expertise and innovative technology platforms to enhance product development and optimize its market presence.

Genor Biopharma Holdings Limited Financial Statement Overview

Summary

Genor Biopharma showcases a mixed financial profile typical of a biotech firm in developmental stages. While the company possesses strong equity and cash reserves, persistent net losses and negative cash flows highlight ongoing operational challenges. The low debt levels provide some stability, but the ability to transition into profitability remains uncertain.

Income Statement

Genor Biopharma has seen minimal revenue growth with sporadic revenue generation over the years. The company has consistently reported negative EBIT and net income, reflecting ongoing operational and profitability challenges. The gross profit margin is high, indicating the ability to cover direct costs, but the net profit margin remains negative, highlighting significant operating losses.

Balance Sheet

The company maintains a strong equity position compared to its liabilities, reflecting a healthy equity ratio. The debt-to-equity ratio is low, suggesting limited reliance on debt financing. However, the return on equity is negative, indicating that shareholders are not gaining returns on their investments due to persistent net losses.

Cash Flow

Genor Biopharma's cash flow statements show a history of negative free cash flow, suggesting challenges in generating cash from operations. The operating cash flow to net income ratio is weak, pointing to inefficiencies in converting income into cash flow. Despite this, the company maintains substantial cash reserves, which could provide a buffer for future operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	224.00M	206.23M	0.00	15.93M	0.00	10.33M
Gross Profit	223.01M	204.89M	0.00	14.95M	0.00	7.74M
EBITDA	10.07M	-5.15M	-551.01M	-675.89M	-840.19M	-2.98B
Net Income	20.15M	-51.28M	-674.36M	-730.40M	-865.37M	-3.03B
Balance Sheet
Total Assets	1.32B	1.29B	1.45B	2.12B	2.86B	3.57B
Cash, Cash Equivalents and Short-Term Investments	1.01B	1.06B	1.17B	1.59B	2.20B	2.93B
Total Debt	745.00K	911.00K	7.16M	28.59M	57.41M	31.06M
Total Liabilities	226.09M	138.05M	256.18M	309.87M	369.73M	336.32M
Stockholders Equity	1.10B	1.15B	1.19B	1.80B	2.49B	3.23B
Cash Flow
Free Cash Flow	-32.86M	-123.55M	-426.15M	-590.56M	-695.13M	-885.01M
Operating Cash Flow	-32.37M	-121.98M	-425.12M	-577.61M	-623.74M	-786.72M
Investing Cash Flow	-295.42M	8.01M	5.99M	-12.94M	-54.26M	-98.24M
Financing Cash Flow	540.50K	-1.56M	-6.82M	-57.39M	17.57M	3.74B

Genor Biopharma Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.06
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6998, the sentiment is Negative. The current price of 3.06 is below the 20-day moving average (MA) of 3.21, below the 50-day MA of 3.23, and below the 200-day MA of 3.11, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 31.53 is Neutral, neither overbought nor oversold. The STOCH value of 25.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6998.

Genor Biopharma Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1875	61 Neutral	HK$1.93B	238.10	0.99%	―	9.41%	-32.69%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
6998	50 Neutral	HK$5.20B	58.33	2.04%	―	1447.56%	―
6622	47 Neutral	HK$1.85B	-6.12	-14.84%	―	-38.38%	-22.12%
2185	44 Neutral	HK$1.45B	-14.99	-14.87%	―	―	22.65%
6978	43 Neutral	HK$1.71B	-6.43	―	―	―	27.90%
2126	41 Neutral	HK$1.12B	-1.64	-51.56%	―	2.45%	2.58%

Genor Biopharma Holdings Limited Corporate Events

Edding Genor Outlines Board and Committee Structure to Bolster Governance

Edding Genor Group Holdings Limited has announced the current composition of its board of directors, listing executive, non-executive and independent non-executive directors, including Ni Xin and Zhai Jing as executive directors. The company also disclosed the membership and chairmanship roles across its three key board committees—audit, compensation and nomination—clarifying oversight responsibilities and governance structure, which may enhance transparency and strengthen corporate governance for shareholders and other stakeholders.

Edding Genor Completes Reverse Takeover Merger and Major Corporate Overhaul

Edding Genor Group Holdings Limited has completed a very substantial acquisition via a merger between its merger subsidiary and the target company, with the transaction structured as a reverse takeover and satisfied through the issue of approximately 1.48 billion consideration shares under a specific mandate. The merger’s effective completion on 30 December 2025 follows shareholder approval and listing consent for the new shares, and is accompanied by a broad corporate overhaul including a new company name, logo and website, adoption of a one-off share option plan, removal of the stock marker, and changes to the board, board committees, authorised representatives, joint company secretaries and principal place of business in Hong Kong, signalling a significant repositioning of the group’s capital structure and governance for its next phase of development.

Genor Biopharma Wins Approval to Drop Biotech “-B” Marker After Revenue-Boosting Merger

Genor Biopharma announced that the Hong Kong Stock Exchange has conditionally approved the dis-application of specific biotech listing rules to the company, effective upon completion of its proposed merger, after confirming that the enlarged group will meet the market capitalization and revenue thresholds under the main board’s standard Rule 8.05(3). Once the merger closes, the company’s shares will no longer carry the “-B” marker that denotes pre-revenue biotech issuers, its stock short name will change accordingly while the stock code remains 6998, and existing share certificates will remain valid, underscoring Genor’s transition from a Chapter 18A biotech issuer to a fully qualifying main board company with enhanced scale and financial profile.

Genor Biopharma Shareholders Approve Merger, Whitewash Waiver and Capital Increase

Genor Biopharma Holdings Limited announced that all resolutions proposed at its extraordinary general meeting on 22 December 2025 were duly passed by poll, including approval of a merger agreement dated 13 September 2024 with a target company and the related issuance of consideration shares under a specific mandate. Shareholders also approved the grant of a whitewash waiver, consent to a special deal and an increase in the company’s authorised share capital, measures that collectively facilitate the proposed merger and potential new listing, and position the company for larger-scale equity financing and strategic expansion, with directors authorised to execute all necessary documents and actions to implement these transactions.

Genor Biopharma’s Lerociclib Gains Inclusion in China’s National Reimbursement Drug List

Genor Biopharma Holdings Limited announced the inclusion of its drug Lerociclib (GB491) in China’s National Reimbursement Drug List, effective January 2026. This inclusion is expected to enhance patient access, reduce financial burdens, and accelerate the drug’s commercialization and market penetration, thereby increasing returns for innovation.

Genor Biopharma Announces EGM and Member Register Closure

Genor Biopharma Holdings Limited, a company incorporated in the Cayman Islands, announced the closure of its register of members in preparation for an extraordinary general meeting (EGM) scheduled for December 22, 2025. The closure will occur from December 18 to December 22, during which no share transfers will be registered. This meeting is significant for shareholders as it determines their eligibility to attend and vote, impacting their engagement and influence in company decisions.

Genor Biopharma Announces Strategic Merger and Corporate Restructuring

Genor Biopharma Holdings Limited has announced a series of significant corporate actions, including a proposed merger, a reverse takeover, and an increase in authorized share capital. These moves are part of a strategic effort to enhance the company’s market positioning and operational capabilities. The proposed merger involves issuing consideration shares under a specific mandate, and the company is applying for a whitewash waiver to facilitate this process. Additionally, a special deal related to a retention plan for shareholder personnel and a proposed change of company name are part of the comprehensive strategy. The company has also planned the adoption of a one-off share option plan to incentivize key personnel. These initiatives are subject to shareholder approval and regulatory conditions, with potential implications for the company’s future growth and stakeholder interests.

Genor Biopharma Announces EGM for Merger and Retention Plan Approval

Genor Biopharma Holdings Limited has announced an Extraordinary General Meeting to be held on December 22, 2025, to discuss and potentially approve a proposed merger and a retention plan. The merger involves a specific mandate to issue shares to target shareholders, while the retention plan requires approval under the Takeovers Code. These resolutions, if passed, could significantly impact the company’s strategic direction and shareholder value.

Genor Biopharma Announces Major Corporate Actions and Proposed Merger

Genor Biopharma Holdings Limited has announced a series of significant corporate actions, including a proposed merger and a reverse takeover, which involve the issuance of consideration shares and a new listing application. The company is also seeking a whitewash waiver and plans to increase its authorized share capital and adopt a one-off share option plan. The dispatch of the circular related to these transactions has been delayed, with the company working closely with regulators to address comments and finalize the information. The proposed merger and associated actions are subject to various conditions and approvals, and shareholders are advised to exercise caution.

Genor Biopharma Announces Major Acquisition and Strategic Changes

Genor Biopharma Holdings Limited has announced a very substantial acquisition and connected transaction involving a proposed merger and the issuance of consideration shares under a specific mandate. The company is also applying for a reverse takeover involving a new listing application and a whitewash waiver, among other strategic changes. The dispatch of the circular related to these transactions has been delayed, with the company working closely with professional parties to address regulatory comments. The merger’s completion is contingent upon several conditions, including regulatory approvals, and shareholders are advised to exercise caution.