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2389.HK — HKEX Healthcare Facilities & Services

2389.Hk

HK$0,07
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Mcap
430,2M HKD
P/E
—
EV / Rev
2,1x
Div yield
—
Op margin
-59,2 %
ROE
-6,8 %
Net margin
-77,5 %
Debt / equity
0,00
Beta
—
52w range
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Volume
—
Day range
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Prev close
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Open
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Next earnings
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Ex-dividend
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TR 1Y
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About

The company operates in the healthcare sector, focusing on biotechnology and healthcare facilities and services, generating revenue primarily through its operations in this field.

Business. The company operates in the healthcare sector, focusing on biotechnology and healthcare facilities and services, generating revenue primarily through its operations in this field.

Classification92 %
SectorHealthcare
Business sectorHealthcare Services & Equipment
IndustryHealthcare Facilities & Services
ActivityBiotechnology
Generated · model-assisted
Sell-side consensus
—consensus pending
— buy— hold— sell
Avg 12m price target—
Upcoming events
— missing data
See all catalysts →

At a glance

Score
—
not yet scored
Valuation
—
valuation pending
Analysts
—
not yet wired
Ownership
—
not yet wired
Profitability→
-6,8 %
return on equity
Quality
—
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning 2389.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care · THIS SECTOR+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to 2389.HK. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    The company operates in the healthcare sector, focusing on biotechnology and healthcare facilities and services, generating revenue primarily through its operations in this field.

    Classification92 %
    SectorHealthcare
    Business sectorHealthcare Services & Equipment
    IndustryHealthcare Facilities & Services
    ActivityBiotechnology
    AI synthesis
    GENERATED

    The company's capital structure is characterized by a strong liquidity position, with a current ratio of 4.0, indicating a robust ability to meet short-term obligations. The company's market price is 0.066 HKD, and its market cap is 399,878,953.78 HKD, with a price-to-book ratio of 0.23, suggesting that the company is undervalued relative to its book value.

    Profitability metrics show that the company is currently unprofitable, with a net income of -116,218,000 HKD and a return on equity of -6.77%. The operating income is also negative at -88,759,000 HKD, indicating that the company is not generating sufficient revenue to cover its operating costs. The return on assets is -5.96%, further highlighting the company's poor performance in utilizing its assets to generate profit.

    The company's revenue is concentrated in a single segment, as there are no disclosed segments beyond the overall financials. The geographic exposure is not specified, but the company's operations are primarily in the healthcare sector, which is subject to regulatory and market risks.

    The company's growth trajectory is uncertain, with a negative operating cash flow of -35,565,000 HKD and a free cash flow of -100,492,000 HKD. The capital expenditure of -6,638,000 HKD indicates that the company is not investing in new projects or expanding its operations. The outlook for the next fiscal year is not provided, but the current financial performance suggests a challenging path forward.

    Risk factors include a low liquidity risk, as the company has a strong current ratio and sufficient cash and equivalents of 77,865,000 HKD. However, the company's debt-to-equity ratio is 0.0, indicating no long-term debt, which is a positive sign. The dilution risk is also low, with no immediate filing-based liquidity or dilution flags detected. The company's financial performance and negative returns suggest a high operational risk.

    Recent events and filings do not indicate any significant changes in the company's operations or financial status. The last actual EPS was -0.17 HKD, and the last actual revenue was 186,331,000 HKD, both of which are below the company's reported figures, suggesting a decline in performance.

    Key takeaways
    • The company has a strong liquidity position with a current ratio of 4.0.
    • The company is currently unprofitable with a negative net income and return on equity.
    • The company's revenue is concentrated in a single segment, and geographic exposure is not specified.
    • The company's growth trajectory is uncertain, with negative operating and free cash flows.
    • The company has low liquidity and dilution risks, but high operational risk due to poor financial performance.
    • **margin_outlook_rationale**: The company's negative operating income and return on equity suggest a challenging margin outlook driven by poor cost management and revenue generation.
    • **rd_outlook_rationale**: The company's capital expenditure is minimal, indicating limited investment in research and development.

    Bull / Bear case

    analysis pipeline
    — missing data

    In focus — financials by report

    Annual
    ANNUALFiled 2009-04-23
    FY 2009 · Full-year highlights

    Revenue HK$157.2M, +4,8% YoY; Operating income +5,3% YoY.

    RevenueHK$157.2M+4,8 % YoY
    Operating income-HK$84.1M+5,3 % YoY
    Net income-HK$100.9M+13,2 % YoY
    Free cash flow—
    EPS—
    Operating cash flow—
    Financials
    Income statement
    RevenueHK$157.2M
    Gross profitHK$42.5M
    Operating income-HK$84.1M
    Net income-HK$100.9M
    Margins
    Gross margin27.0%
    Operating margin-53.5%
    Net margin-64.2%
    FCF margin—
    Balance sheet
    Total assetsHK$2.10B
    Total liabilitiesHK$436.9M
    Total equityHK$1.66B
    Cash & equivalentsHK$140.5M
    Long-term debtHK$114.2M
    P&L flow · revenue → net income
    Revenue HK$149.9MOperating costs HK$238.7MFinance HK$228.0kNet income HK$116.2M
    Highlights
    • ▍Revenue HK$157.2M, +4,8% YoY
    • ▍Operating income +5,3% YoY
    • ▍Net income +13,2% YoY
    • ▍Net margin -64.2%

    Valuation FY

    Market price
    HK$0,07
    Market cap
    HK$399.9M
    Enterprise valueⓘ
    HK$327.7M
    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
    2.1x
    EV / Op incomeⓘ
    —
    EV / OCFⓘ
    —
    P / Bⓘ
    0.2x
    P / Tangible bookⓘ
    0.2x
    Tangible book
    HK$1.72B
    Net cashⓘ
    HK$72.2M
    Current ratioⓘ
    4.0
    Debt / equityⓘ
    0.0
    ROAⓘ
    -6.0%
    ROEⓘ
    -6.8%
    Cash conversionⓘ
    31.0%
    CapEx / revenueⓘ
    -4.4%
    SBC / revenueⓘ
    —
    Dilution ratioⓘ
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    — missing data

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskLow
    Filing-based flags
    • No immediate filing-based liquidity or dilution flags were detected.

    Benchmarks vs cohort

    Op Margin-59,2 %Bottom quartile
    Net Margin-77,5 %Bottom quartile
    ROE-6,8 %Bottom quartile
    Capex / Rev-4,4 %Above median
    D/E0,00Above P75
    Cash Conv0,31Below median

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    — missing data

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Return On Equity
      net_income / total_equity
    • Price To Book
      market_price / (adjusted_book_value / shares_outstanding_diluted)
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Market Price
      input from market-data provider (delayed close or quote-shim mid)
    • Market Cap
      market_price * shares_outstanding_diluted
    • Ev To Revenue
      enterprise_value / revenue
    Source documents
    • 2389.HK Market data — financials · 2026-05-26
    • Beijing Health (Holdings) Ltd Market data — analyst estimates · 2026-05-26

    Ownership & reference

    Leadership

    • Shixing ZhuExecutive Chairman of the Board
    • Xue Heng LiuChief Executive Officer, Executive Director

    Insider activity

    — missing data

    Short positioning

    — missing data

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    2389.HKCanonical
    HKEX · HKD

    Intel & risk

    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskLow
    No immediate filing-based liquidity or dilution flags were detected.

    Evidence & claims

    From filings & derived data
    — missing data

    The Thread

    Everything we know, in order
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2026-06-20 12:34 UTCANALYSTAnalyst coverage initiated
    2009-04-23 17:13 UTCEARNINGSAnnual results — FY 2009 Revenue HKD 157.2M · Net HKD -100.9M
    2008-04-25 14:40 UTCEARNINGSAnnual results — FY 2008 Revenue HKD 149.9M · Net HKD -116.2M
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage