Mabpharm Limited (2181) AI Stock Analysis

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Mabpharm Limited

(HKEX:2181)

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Rating:63Neutral

Price Target:HKD 0.51▲(4.29% Upside)

Action:reiterated

Date:11/07/26

The score is primarily supported by strong recent revenue growth, high gross margins, and improved profitability, but is restrained by balance-sheet deterioration, leverage, negative free cash flow, and mixed technical momentum. The moderate P/E provides limited additional support.

Positive Factors

Revenue and Profitability TurnaroundThe sharp 2025 revenue increase and return to positive earnings indicate improved commercial traction after several loss-making years. If growth persists, the larger revenue base can support operating leverage, strengthen reinvestment capacity, and improve the company’s ability to build sustainable earnings.

Negative Factors

Elevated LeverageElevated leverage increases financial risk because debt remains large relative to the equity base. It can reduce flexibility to fund growth, make the company more sensitive to weaker earnings or cash flow, and amplify the consequences of any operating setback.

Mabpharm Limited (2181) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 2.02B
Dividend Yield: ―
Average Volume (3M): 62.51K
Price to Earnings (P/E): 20.3
Beta (1Y): 0.80
Revenue Growth: 88.38%
EPS Growth: ―
Country: Hong Kong
Employees: 394
Sector: Healthcare
Sector Strength: 51
Industry: Biotechnology

Mabpharm Limited Business Overview & Revenue Model

Company Description

Mabpharm Limited is a Chinese biopharmaceutical firm dedicated to the research, development, and manufacturing of innovative and biosimilar medications. Its therapeutic focus areas include allergic conditions, various cancers, and autoimmune disorder...

How the Company Makes Money

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Mabpharm Limited Financial Statement Overview

Summary

Revenue growth, high gross margins, and a return to profitability support the score, but sharply eroded equity, 2.1x debt-to-equity, and negative free cash flow weigh materially on financial strength.

Income Statement

72Positive

Balance Sheet

55Neutral

Cash Flow

48Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	764.09M	629.37M	258.23M	87.16M	55.92M	82.88M
Gross Profit	652.70M	521.55M	219.39M	75.24M	40.54M	66.11M
EBITDA	96.52M	64.46M	-58.34M	-139.08M	-152.08M	-245.46M
Net Income	84.72M	55.65M	-127.95M	-209.36M	-210.62M	-291.74M
Balance Sheet
Total Assets	1.17B	1.15B	1.02B	1.03B	917.52M	899.90M
Cash, Cash Equivalents and Short-Term Investments	93.31M	109.30M	89.34M	173.34M	48.61M	81.56M
Total Debt	307.88M	326.88M	293.09M	260.07M	126.34M	46.43M
Total Liabilities	974.61M	996.58M	927.28M	829.92M	516.58M	297.92M
Stockholders Equity	193.80M	157.37M	88.93M	205.06M	400.94M	601.98M
Cash Flow
Free Cash Flow	17.82M	-23.22M	-63.58M	38.35M	-182.01M	-348.14M
Operating Cash Flow	99.49M	80.78M	-4.10M	57.39M	-56.88M	-199.47M
Investing Cash Flow	-96.63M	-64.16M	-98.20M	-3.50M	-104.95M	-179.42M
Financing Cash Flow	-3.69M	3.29M	18.28M	85.60M	112.26M	-17.78M

Mabpharm Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price0.49

Price Trends

50DMA0.46Positive

100DMA0.44Positive

200DMA0.45Positive

Market Momentum

MACD-0.00Negative

RSI57.47Neutral

STOCH36.67Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2181, the sentiment is Positive. The current price of 0.49 is above the 20-day moving average (MA) of 0.46, above the 50-day MA of 0.46, and above the 200-day MA of 0.45, indicating a bullish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 57.47 is Neutral, neither overbought nor oversold. The STOCH value of 36.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2181.

Mabpharm Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

HK:2181 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:9995	66Neutral	HKD 55.28B	8.22	105.60%	―	292.84%	―
HK:2696	65Neutral	HKD 27.25B	25.72	20.41%	―	32.63%	8.74%
HK:2181	63Neutral	HKD 2.02B	20.31	48.25%	―	88.38%	―
HK:9966	52Neutral	HKD 5.79B	-28.40	-10.27%	―	-31.77%	-177.01%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HK:3681	43Neutral	HKD 1.38B	-6.12	-41.81%	―	―	-4.24%
HK:1877	41Neutral	HKD 31.80B	-71.16	-7.23%	―	35.82%	54.40%

* Healthcare Sector Average

Performance Comparison

HK:2181 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:2181	Mabpharm Limited	0.49	-0.03	-5.77%
HK:9966	Alphamab Oncology	5.75	-4.04	-41.32%
HK:9995	RemeGen Co. Ltd. Class H	66.70	-17.95	-21.20%
HK:1877	Shanghai Junshi Biosciences Co., Ltd. Class H	14.95	-9.79	-39.57%
HK:2696	Shanghai Henlius Biotech, Inc. Class H	48.12	-17.13	-26.25%
HK:3681	SinoMab Bioscience Ltd.	0.95	-0.78	-44.80%

Mabpharm Limited Corporate Events

Mabpharm Posts Tenfold Profit Surge on Strong Revenue Growth in First Half 2026

Aug 28, 2026

Mabpharm Limited reported a strong interim performance for the six months ended June 30, 2026, with revenue rising 45.1% year-on-year to RMB397.9 million and gross profit increasing 49.9% to RMB361.6 million, reflecting robust sales growth. Profit at...

Mabpharm Sets August Board Meeting to Approve 2026 Interim Results

Aug 17, 2026

Mabpharm Limited has scheduled a meeting of its board of directors for August 28, 2026 to review and approve the interim results for the six months ended June 30, 2026. The board session will also address the formal publication of these mid‑year fina...

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.

Date of analysis: Nov 07, 2026

Mabpharm Limited AI Stock Analysis