Akeso, Inc. (9926) AI Stock Analysis

• Market Cap: HK$151.69B
• Dividend Yield: N/A
• Average Volume (3M): 11.22M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.68
• Revenue Growth: 33.46%
• EPS Growth: -7.60%
• Country: HK
• Employees: 3,035
• Sector: Healthcare
• Sector Strength: 48
• Industry: Biotechnology
• EPS (TTM): -0.70
• Shares Outstanding: 897,593,200
• 10 Day Avg. Volume: 9,989,014
• 30 Day Avg. Volume: 11,222,219
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: HK$131.12
• Price Target Upside: -16.48% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 53 Neutral
• Price Target: HK$158.00 ▲(0.64% Upside)

The stock score is primarily influenced by strong technical indicators showing upward momentum, but the overbought RSI suggests caution. Financial performance is weak due to profitability and cash flow issues, and valuation is unattractive with a negative P/E ratio. These factors combined result in a moderate overall stock score.

Positive Factors

Drug Approval

Ivonescimab showed a notable efficacy advantage and was recently approved in China for first-line treatment of PD-L1 positive NSCLC.

Financial Outlook

NRDL inclusion is expected to fuel growth, with product sales projected to surge by 60% to RMB3.3bn, driven by the inclusion of AK104 and AK112.

Market Expansion

Ivonescimab possesses strong potential for success in global markets with ongoing large-scale studies.

Negative Factors

Market Dependency

The growth projections heavily rely on NRDL inclusion, which may pose risks if circumstances change.

Akeso, Inc. Business Overview & Revenue Model

Company Description

Akeso, Inc., a biopharmaceutical company, researches, develops, manufactures, and commercializes therapies. The company develops AK104, a PD-1/CTLA-4 bi-specific antibody to treat cervical cancer, gastric cancer (GC), gastroesophageal junction (GEJ) adenocarcinoma, hepatocellular carcinoma (HCC), non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), nasopharyngeal carcinoma (NPC), clear cell renal cell carcinoma, and solid tumors; and AK112, a PD-1/VEGF bi-specific antibody to treat solid and gynecological tumors, NSCLC, SCLC, and triple-negative breast cancer (TNBC). It is also developing AK105, a PD-1 monoclonal antibody to treat NSCLC, NPC, classic Hodgkin's lymphoma (R/R cHL), HCC, head and neck cancer, thyroid cancer, mesothelioma and thymic cancer, ESCC, UC, GC, GEJ, cholangiocarcinoma, neuroendocrine tumor, and mismatch repair deficient solid tumor; AK117, a CD47 monoclonal antibody to treat myelodysplastic syndrome, acute myeloid leukemia, GC, GEJ, ESCC, TNBC, HNSCC, R/R cHL, NPC, NSCLC, and solid tumors/lymphoma; AK119, a CD73 monoclonal antibody for treating solid tumors; and AK109, a VEGFR-2 monoclonal antibody to treat solid tumors and gastric cancer. In addition, the company develops AK120, an IL-4R monoclonal antibody to treat moderate-to-severe atopic dermatitis and asthma, and eosinophilic esophagitis; AK101, an IL-12/IL-23 monoclonal antibody to treat moderate-to-severe psoriasis and ulcerative colitis; AK111, an IL-17 monoclonal antibody to treat moderate-to-severe psoriasis and ankylosing spondylitis; and AK102, a PCSK9 monoclonal antibody to treat hypercholesterolemia. Further, its preclinical product includes AK127, a TIGIT monoclonal antibody to treat solid tumors; and AK115, a NGF monoclonal antibody. The company has collaboration agreements with Pfizer Pharmaceuticals, AstraZeneca Pharmaceuticals, and MD Anderson Medical Institute. Akeso, Inc. was founded in 2012 and is headquartered in Zhongshan, the People's Republic of China.

How the Company Makes Money

Akeso, Inc. generates revenue through the development and commercialization of its proprietary antibody-based therapeutics. The company earns money through the sale of its approved drugs, licensing agreements, and strategic partnerships with other pharmaceutical and biotechnology companies. These collaborations often involve upfront payments, milestone payments, and royalties on sales of successfully developed products. Additionally, Akeso may engage in research and development agreements where it receives funding in exchange for access to its technology platform and expertise in antibody drug development.

Akeso, Inc. Financial Statement Overview

Summary

Akeso, Inc. has strong gross profit margins but faces profitability issues with negative net profit margins and challenges in cash generation. The balance sheet is moderately leveraged, but negative ROE and cash flow inefficiencies highlight potential risks.

Income Statement

Akeso, Inc. has demonstrated inconsistent revenue growth, with a significant decline from 2023 to 2024. The gross profit margin remains strong, but the company has faced negative net profit margins in recent years, indicating ongoing profitability challenges. The EBIT and EBITDA margins have also been negative, highlighting operational inefficiencies.

Balance Sheet

The company's balance sheet shows a moderate debt-to-equity ratio, suggesting manageable leverage. Equity ratio is relatively stable, reflecting a balanced asset structure. However, the negative ROE indicates that the company is not currently generating positive returns on equity, posing a risk to shareholder value.

Cash Flow

Cash flow from operations has been negative in 2024, reflecting challenges in cash generation. Free cash flow has decreased, and the ratio of operating cash flow to net income indicates inefficiencies in cash management. Despite this, the financing cash flow suggests some level of external capital support.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.12B	4.53B	837.66M	225.63M	0.00
Gross Profit	1.83B	4.39B	734.54M	195.41M	-1.90M
EBITDA	-604.99M	2.17B	-1.27B	-1.32B	-1.01B
Net Income	-514.51M	2.03B	-1.17B	-1.07B	-1.04B
Balance Sheet
Total Assets	12.75B	9.18B	5.50B	4.81B	3.86B
Cash, Cash Equivalents and Short-Term Investments	7.32B	2.40B	2.29B	2.65B	2.80B
Total Debt	3.95B	2.99B	1.88B	859.42M	198.99M
Total Liabilities	6.00B	4.66B	2.95B	1.53B	405.73M
Stockholders Equity	6.81B	4.69B	2.64B	3.16B	3.19B
Cash Flow
Free Cash Flow	-1.12B	1.59B	-2.02B	-1.71B	-1.06B
Operating Cash Flow	-527.62M	2.47B	-1.24B	-1.00B	-617.77M
Investing Cash Flow	-1.52B	-4.00B	-889.75M	-579.59M	-555.70M
Financing Cash Flow	3.39B	960.89M	1.49B	1.59B	2.88B

Akeso, Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 157.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9926, the sentiment is Neutral. The current price of 157 is below the 20-day moving average (MA) of 163.19, above the 50-day MA of 137.58, and above the 200-day MA of 88.75, indicating a neutral trend. The MACD of 6.49 indicates Positive momentum. The RSI at 47.30 is Neutral, neither overbought nor oversold. The STOCH value of 28.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9926.

Akeso, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9926	53 Neutral	HK$151.69B	―	-14.40%	―	33.46%	-7.60%
Sector *	51 Neutral	$7.83B	-0.18	-40.10%	2.29%	21.46%	-2.03%
SBMFF	―	$19.06B	34.63	11.72%	0.87%	―	―
IVBXF	―	$21.06B	―	8.41%	―	―	―
WXIBF	―	$17.05B	30.75	9.79%	―	―	―
1877	54 Neutral	HK$46.13B	―	-16.25%	―	44.21%	46.11%
9995	47 Neutral	HK$51.64B	―	-45.12%	―	47.62%	28.72%

Akeso, Inc. Corporate Events

Akeso, Inc. Announces Successful Passing of AGM and EGM Resolutions

Akeso, Inc. announced the successful passing of all resolutions during its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) held on June 30, 2025. The resolutions included the adoption of audited financial statements, re-election of directors, re-appointment of Ernst & Young as auditors, and granting mandates to the board for share issuance and repurchase. These decisions reflect strong shareholder support and are likely to influence Akeso’s strategic direction and operational flexibility.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$58.97 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Announces Extraordinary General Meeting for Key Resolutions

Akeso, Inc. has announced an extraordinary general meeting to be held on June 30, 2025, in Zhongshan, Guangdong, China. The meeting will address resolutions to grant 3,000,000 share options and 2,000,000 RSUs to Dr. Xia under the company’s existing schemes, indicating a strategic move to incentivize key leadership and align their interests with the company’s growth objectives.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$58.97 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Announces Annual General Meeting with Key Resolutions

Akeso, Inc. has announced its upcoming annual general meeting, scheduled for June 30, 2025, in Zhongshan, Guangdong, China. The meeting will address several key resolutions, including the adoption of the company’s audited financial statements for 2024, the re-election of retiring directors, and the re-appointment of Ernst & Young as auditors. Additionally, the meeting will consider authorizing the board to manage the issuance of additional shares, which could impact the company’s capital structure and shareholder value.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$58.97 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso’s Cadonilimab Gains Approval for First-Line Cervical Cancer Treatment

Akeso, Inc. announced that China’s National Medical Products Administration has approved the supplemental New Drug Application for cadonilimab as a first-line treatment for cervical cancer. This approval marks a significant advancement in addressing the unmet needs for immune-based therapies in cervical cancer, offering a new treatment option for patients at all stages of the disease. The approval is based on successful results from the COMPASSION-16/AK104-303 study, which demonstrated improved progression-free and overall survival rates. This development positions Akeso as a leader in innovative cancer treatments, potentially impacting the company’s market presence and offering hope to stakeholders in the healthcare sector.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$58.97 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.

Akeso, Inc. Grants Share Options and RSUs to Boost Employee Motivation

Akeso, Inc. announced the grant of 7,115,000 Share Options and Restricted Share Units (RSUs) to 114 grantees, including directors and employees, as part of its strategy to recognize contributions and motivate its workforce. The grant is considered fair and reasonable, with a 10-year validity period and a mixed vesting schedule to encourage long-term commitment and growth within the company.

The most recent analyst rating on (HK:9926) stock is a Buy with a HK$58.97 price target. To see the full list of analyst forecasts on Akeso, Inc. stock, see the HK:9926 Stock Forecast page.