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2396.HK — HKEX Biotechnology & Medical Research

2396.Hk

HK$6,06
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Mcap
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P/E
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EV / Rev
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Div yield
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Op margin
-39 798,5 %
ROE
-33,5 %
Net margin
-40 035,2 %
Debt / equity
0,01
Beta
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52w range
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Volume
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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 biotechnology and medical research sector, focusing on pharmaceuticals and medical research, and generates revenue primarily through the development and commercialization of biotech products.

Business. The company operates in the biotechnology and medical research sector, focusing on pharmaceuticals and medical research, and generates revenue primarily through the development and commercialization of biotech products.

Classification92 %
SectorHealthcare
Business sectorPharmaceuticals & Medical Research
IndustryBiotechnology & Medical Research
ActivityPharmaceuticals & Medical Research
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
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valuation pending
Analysts
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not yet wired
Ownership
—
not yet wired
Profitability→
-33,5 %
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 2396.

    • 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 2396.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 biotechnology and medical research sector, focusing on pharmaceuticals and medical research, and generates revenue primarily through the development and commercialization of biotech products.

    Classification92 %
    SectorHealthcare
    Business sectorPharmaceuticals & Medical Research
    IndustryBiotechnology & Medical Research
    ActivityPharmaceuticals & Medical Research
    AI synthesis
    GENERATED

    The company maintains a strong liquidity position, with a current ratio of 17.11, indicating a high ability to meet short-term obligations. The company holds significant cash and equivalents of CNY 632,372,000, which is a substantial portion of its total assets of CNY 684,245,000. The debt-to-equity ratio is very low at 0.01, suggesting minimal reliance on debt financing.

    Profitability metrics show a challenging financial position, with a return on equity of -0.3346 and a return on assets of -0.3054. These negative returns indicate that the company is not generating profits relative to its equity or asset base. The operating income is significantly negative at CNY -207,748,000, and the net income is also negative at CNY -208,984,000, reflecting ongoing losses.

    The company's revenue is concentrated in a single segment, as disclosed in the financial snapshot, with no additional segment details provided. There is no information on geographic revenue distribution, making it difficult to assess geographic exposure or concentration risk.

    The company's growth trajectory is not clearly defined in the provided data, as there are no specific numeric deltas or revenue history provided for the current or next fiscal year. The absence of detailed growth metrics makes it challenging to assess future performance.

    Risk factors include a low liquidity risk and a low dilution risk, as no immediate filing-based liquidity or dilution flags were detected. The company's low debt levels and high cash reserves reduce the likelihood of liquidity issues. Additionally, the low dilution risk suggests that there is no immediate threat of share dilution affecting shareholder value.

    Recent events, such as filings and transcripts, are not detailed in the provided data. Therefore, there is no specific information on recent developments that could impact the company's financial position or strategic direction.

    Key takeaways
    • The company has a strong liquidity position with a high current ratio and significant cash reserves.
    • The company is currently unprofitable, with negative returns on equity and assets.
    • The company's financial performance is heavily impacted by significant operating and net losses.
    • There is no immediate liquidity or dilution risk, as indicated by the risk assessment.
    • The company's revenue and geographic exposure are not detailed, making it difficult to assess concentration risk.
    • "margin_outlook_rationale": "The company's margin outlook is negative due to significant operating and net losses.",

    Bull / Bear case

    analysis pipeline
    — missing data

    In focus — financials by report

    Valuation

    Market price
    HK$6,06
    Market cap
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    Enterprise valueⓘ
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    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
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    EV / Op incomeⓘ
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    EV / OCFⓘ
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    P / Bⓘ
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    P / Tangible bookⓘ
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    Tangible book
    HK$624.6M
    Net cashⓘ
    HK$628.9M
    Current ratioⓘ
    17.1
    Debt / equityⓘ
    0.0
    ROAⓘ
    -30.5%
    ROEⓘ
    -33.5%
    Cash conversionⓘ
    —
    CapEx / revenueⓘ
    —
    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-39 798,5 %Bottom quartile
    Net Margin-40 035,2 %Bottom quartile
    ROE-33,5 %Below median
    D/E0,01Above 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
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Net Cash
      cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
    • Return On Equity
      net_income / total_equity
    • Debt To Equity
      (short_term_debt + long_term_debt) / total_equity
    • Return On Assets
      net_income / total_assets
    Source documents
    • 2396.HK Market data — financials · 2026-05-26

    Ownership & reference

    Leadership

    • Lijia JiaExecutive Chairman of the Board

    Insider activity

    — missing data

    Short positioning

    — missing data

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    2396.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
    — missing data
    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