Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H (HK:9989)
:9989
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Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H
(9989)
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Rating:59Neutral
Price Target:
HK$5.00
▼(-3.66% Downside)
Action:ReiteratedDate:04/02/26
Score is driven primarily by improved financial footing—stronger balance sheet and restored positive free cash flow—tempered by uneven profitability and weakening margins in 2025. Technicals are the main drag as the stock trades below major moving averages with negative MACD and weak momentum. Valuation is supported by a high dividend yield, but the P/E remains only moderate given earnings inconsistency.
Positive Factors
Stronger Balance Sheet
Material deleveraging to a ~0.18 debt-to-equity position provides durable financial flexibility. Lower leverage reduces refinancing and interest risks, supports capex/R&D or CDMO capacity expansion, and helps withstand industry cyclicality, strengthening long-term solvency and strategic optionality.
Negative Factors
Profitability Volatility & Margin Compression
Material swings in net margin indicate persistent margin pressure or cost/revenue mix issues. Continued compression makes earnings less predictable, limits ability to fund growth from profits, and raises the risk that temporary improvements may reverse, undermining sustainable shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Stronger Balance Sheet
Material deleveraging to a ~0.18 debt-to-equity position provides durable financial flexibility. Lower leverage reduces refinancing and interest risks, supports capex/R&D or CDMO capacity expansion, and helps withstand industry cyclicality, strengthening long-term solvency and strategic optionality.
Read all positive factors
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H (9989) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$17.20B
Dividend Yield5.23%
Average Volume (3M)1.16M
Price to Earnings (P/E)19.6
Beta (1Y)0.95
Revenue Growth-1.40%
EPS GrowthN/A
CountryHK
Employees1,926
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.17
Shares Outstanding220,094,500
10 Day Avg. Volume947,650
30 Day Avg. Volume1,161,300
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)0.57
Price to Sales (P/S)1.25
P/FCF Ratio4.31
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)0.53
Revenue Forecast (FY)HK$6.58B
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. engages in the manufacture and sale of pharmaceutical products in Hong Kong, the United States, Europe, Mainland China, and internationally. The company operates through four segments: Finished dose...
How the Company Makes Money
Hepalink primarily makes money by selling pharmaceutical products and services across several revenue streams: (1) Sales of heparin-based APIs: The company manufactures heparin and low-molecular-weight heparin (LMWH) APIs used by other pharmaceuti...
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.48B | 5.28B | 5.45B | 7.16B | 6.37B |
| Gross Profit | 1.74B | 1.76B | 1.80B | 2.33B | 2.03B |
| EBITDA | 846.59M | 1.20B | ― | 1.37B | 726.64M |
| Net Income | 349.49M | 646.74M | ― | 727.43M | 240.79M |
Balance Sheet | |||||
| Total Assets | 16.63B | 17.34B | 19.20B | 20.81B | 19.11B |
| Cash, Cash Equivalents and Short-Term Investments | 2.83B | 2.56B | 2.27B | 3.45B | 3.93B |
| Total Debt | 2.11B | 2.98B | 3.78B | 6.46B | 5.65B |
| Total Liabilities | 4.55B | 5.14B | 7.22B | 8.41B | 7.58B |
| Stockholders Equity | 12.03B | 12.15B | 11.91B | 12.31B | 11.41B |
Cash Flow | |||||
| Free Cash Flow | 1.59B | 1.99B | -46.66M | -979.03M | -200.49M |
| Operating Cash Flow | 1.71B | 2.19B | 398.22M | -756.61M | -6.63M |
| Investing Cash Flow | -872.75M | -415.05M | 1.22B | 249.84M | 719.93M |
| Financing Cash Flow | -1.09B | -2.14B | -1.21B | 329.56M | -501.08M |
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H Technical Analysis
Neutral
5.19
Price Trends
5.23
Negative
5.29
Negative
5.57
Negative
Market Momentum
-0.08
Negative
50.07
Neutral
67.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9989, the sentiment is Neutral. The current price of 5.19 is above the 20-day moving average (MA) of 5.05, below the 50-day MA of 5.23, and below the 200-day MA of 5.57, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 50.07 is Neutral, neither overbought nor oversold. The STOCH value of 67.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9989.
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | HK$39.39B | 6.37 | 7.91% | 2.95% | ― | ― | |
59 Neutral | HK$17.20B | 19.65 | 3.43% | 5.23% | -1.40% | ― | |
57 Neutral | HK$75.74B | 14.15 | 7.02% | 1.69% | -1.12% | 76.16% | |
55 Neutral | HK$20.55B | 4.97 | 41.38% | ― | -1.78% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | HK$13.10B | 292.71 | 0.56% | ― | 29.21% | 80.37% |
* Healthcare Sector Average
HK:9989
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H
5.08
1.28
33.68%
HK:0013
HUTCHMED (China)
23.56
4.48
23.48%
HK:2196
Shanghai Fosun Pharmaceutical (Group) Co
20.80
7.91
61.39%
HK:3320
China Resources Pharmaceutical Group Ltd.
6.27
1.70
37.08%
HK:6185
CanSino Biologics, Inc. Class H
33.04
7.09
27.32%
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. Class H Corporate Events
Shenzhen Hepalink Clarifies 2025 Final Dividend Terms and Record Dates
Mar 31, 2026
Shenzhen Hepalink Pharmaceutical Group has clarified details of its proposed final dividend for 2025, confirming a distribution of RMB1.45 per ten ordinary shares, subject to shareholder approval at the annual general meeting on May 22, 2026. The ...
Shenzhen Hepalink Announces Proposed Final Dividend for FY2025
Mar 30, 2026
Shenzhen Hepalink Pharmaceutical Group Co., Ltd. has proposed a final ordinary cash dividend of RMB 1.45 per 10 shares for the financial year ended 31 December 2025, subject to shareholder approval at a meeting scheduled for 22 May 2026. The divid...
Hepalink 2025 Profit Falls on API Weakness Despite Modest Revenue Growth
Mar 30, 2026
Shenzhen Hepalink Pharmaceutical Group reported 2025 revenue of RMB5.44 billion, up slightly from a year earlier, with growth driven mainly by its finished dose pharmaceutical products business, whose sales rose to RMB3.50 billion and achieved a h...
Shenzhen Hepalink Sets March 30 Board Meeting to Approve 2025 Results and Weigh Dividend
Mar 16, 2026
Shenzhen Hepalink Pharmaceutical Group has scheduled a board meeting for March 30, 2026, to review and approve its annual results for the year ended December 31, 2025, and to authorize their publication. The board will also consider whether to rec...
Hepalink Sees 2025 Headline Profit Fall on One-Off Base, Underlying Earnings Surge on Heparin Growth
Jan 30, 2026
Shenzhen Hepalink Pharmaceutical Group expects its net profit attributable to shareholders for 2025 to decline sharply year on year to approximately RMB284 million–RMB377 million, down about 41.71% to 56.09% from 2024, reflecting the absence...
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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