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Lepu Biopharma Co. Ltd. Class H
(2157)
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Rating:51Neutral
Price Target:
HK$4.50
▲(0.45% Upside)
Action:Reiterated
Date:09/06/26
The score is mainly held back by weak cash generation (negative operating and free cash flow in 2025) despite a strong 2025 earnings turnaround and high gross margins. Technicals are neutral-to-slightly negative with the price below longer-term averages and a slightly negative MACD. Valuation is middling with a P/E around 27.5 and no dividend yield data to provide additional support.
Positive Factors
Strong 2025 revenue and earnings turnaround
The sharp 2025 revenue increase and shift from deep losses to substantial profitability indicate materially improved commercial performance. If this growth is sustained, it can strengthen operating scale, support investment in the oncology pipeline, and improve the company’s ability to fund development internally.
Negative Factors
Persistent negative cash generation
Negative operating and free cash flow despite reported profitability signals weak cash conversion and leaves the company dependent on existing liquidity or external funding. In a biotech business, continued development spending can prolong this mismatch and constrain financial flexibility over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong 2025 revenue and earnings turnaround
The sharp 2025 revenue increase and shift from deep losses to substantial profitability indicate materially improved commercial performance. If this growth is sustained, it can strengthen operating scale, support investment in the oncology pipeline, and improve the company’s ability to fund development internally.
Read all positive factors
Lepu Biopharma Co. Ltd. Class H (2157) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$7.85B
Dividend YieldN/A
Average Volume (3M)10.87M
Price to Earnings (P/E)27.5
Beta (1Y)0.90
Revenue Growth46.90%
EPS GrowthN/A
CountryHK
Employees646
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.14
Shares Outstanding1,804,439,800
10 Day Avg. Volume14,166,715
30 Day Avg. Volume10,871,547
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)5.65
Price to Sales (P/S)8.60
P/FCF Ratio-94.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$5.66Price Target Upside26.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.04
Revenue Forecast (FY)HK$1.07B
Lepu Biopharma Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Lepu Biopharma Co., Ltd. operates as a biopharmaceutical enterprise, concentrating its efforts on the development of innovative oncology therapies. It maintains a broad pipeline of cancer-fighting products primarily aimed at the Chinese market. Th...
How the Company Makes Money
The company makes money primarily through (1) sales of approved pharmaceutical products (where it has obtained marketing authorization and commercializes products in its target markets), and (2) out-licensing and collaboration arrangements related...
Lepu Biopharma Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
55
Neutral
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 910.67M | 367.79M | 225.35M | 15.57M | 0.00 |
| Gross Profit | 732.10M | 292.97M | 197.07M | 13.57M | 0.00 |
| EBITDA | 178.73M | -311.94M | 86.95M | -596.53M | -865.23M |
| Net Income | 254.60M | -411.38M | -22.10M | -689.05M | -1.01B |
Balance Sheet | |||||
| Total Assets | 3.10B | 2.28B | 2.38B | 2.53B | 2.08B |
| Cash, Cash Equivalents and Short-Term Investments | 959.17M | 464.91M | 489.64M | 678.20M | 205.17M |
| Total Debt | 1.06B | 850.16M | 746.82M | 690.30M | 335.26M |
| Total Liabilities | 1.72B | 1.60B | 1.50B | 1.63B | 1.23B |
| Stockholders Equity | 1.39B | 702.83M | 896.90M | 900.76M | 836.71M |
Cash Flow | |||||
| Free Cash Flow | -82.80M | -258.14M | -292.04M | -591.38M | -835.12M |
| Operating Cash Flow | -38.56M | -196.39M | -250.84M | -480.93M | -621.74M |
| Investing Cash Flow | -149.19M | -61.75M | 18.26M | -74.66M | -3.89M |
| Financing Cash Flow | 620.94M | 232.08M | -11.01M | 1.03B | 380.31M |
Lepu Biopharma Co. Ltd. Class H Technical Analysis
Neutral
4.48
Price Trends
4.36
Negative
4.52
Negative
4.87
Negative
Market Momentum
-0.01
Negative
51.48
Neutral
61.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2157, the sentiment is Neutral. The current price of 4.48 is above the 20-day moving average (MA) of 4.31, above the 50-day MA of 4.36, and below the 200-day MA of 4.87, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 51.48 is Neutral, neither overbought nor oversold. The STOCH value of 61.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2157.
Lepu Biopharma Co. Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$204.24B | 34.73 | 10.51% | ― | 21.93% | 21.94% | |
64 Neutral | HK$38.22B | 37.67 | 20.41% | ― | 32.63% | 8.87% | |
63 Neutral | HK$178.57B | 123.61 | 6.06% | ― | 42.64% | 9.67% | |
62 Neutral | HK$68.87B | -13.44 | -16.23% | 0.35% | 53.48% | -120.02% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$7.85B | 27.53 | 17.36% | ― | 46.90% | ― | |
46 Neutral | HK$34.66B | -78.10 | -7.32% | ― | 34.83% | 58.94% |
* Healthcare Sector Average
HK:2157
Lepu Biopharma Co. Ltd. Class H
4.35
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Lepu Biopharma Co. Ltd. Class H Corporate Events
Lepu Biopharma Delivers Revenue Growth as ADC Pipeline Advances
Aug 19, 2026
Lepu Biopharma reported interim revenue of about RMB522.4 million for the first half of 2026, up 12.1% year-on-year, driven by domestic sales of its cancer drugs MEIYOUHENG and PUYOUHENG and licensing milestone income from CMG901 and MRG007. The c...
Lepu Biopharma Schedules Board Meeting to Review 2026 Interim Results and Potential Dividend
Aug 7, 2026
Lepu Biopharma Co., Ltd., a Hong Kong-listed Chinese biopharmaceutical company, has a board that includes executive, non-executive and independent non-executive directors led by Chairman and Executive Director Dr. Pu Zhongjie and CEO and Executive...
Lepu Biopharma’s Claudin 18.2 ADC CMG901 Delivers Positive Global Phase III Gastric Cancer Data
Jul 28, 2026
Lepu Biopharma reported that its Claudin 18.2-targeting antibody-drug conjugate CMG901, licensed globally to AstraZeneca, achieved positive top-line results in the CLARITY-Gastric01 global Phase III trial for second- and later-line treatment of ad...
Lepu Biopharma Appoints New Employee Representative Supervisor After Resignation
Jul 15, 2026
Lepu Biopharma Co., Ltd., a PRC-incorporated biopharmaceutical group listed in Hong Kong, operates under a multi-tier governance system that includes a supervisory board and employee representative supervisors. Its organizational setup and dedicat...
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.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.