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Zylox-Tonbridge Medical Technology Co., Ltd. Class H
(2190)
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Rating:66Neutral
Price Target:
HK$22.50
▲(1.53% Upside)
Action:Downgraded
Date:08/06/26
Overall score is driven primarily by the strong financial recovery (high margins, improving profitability, and low leverage), which supports a solid fundamental profile. This is tempered by weak technicals (price below major moving averages with negative MACD and low RSI) and a valuation that appears reasonable but not particularly cheap given the P/E and modest dividend yield.
Positive Factors
Profitability and margin expansion
The sharp improvement in profitability and sustained high gross margin indicate stronger earnings economics in the current business model. If maintained, this margin profile can support reinvestment in product development, commercial expansion, and clinical adoption while improving resilience across future periods.
Negative Factors
Historical earnings volatility
The recent profit inflection is encouraging, but several years of losses show that earnings power has not yet been demonstrated through a full operating cycle. This history increases uncertainty about whether current margins and profitability can remain durable if business conditions become less favorable.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability and margin expansion
The sharp improvement in profitability and sustained high gross margin indicate stronger earnings economics in the current business model. If maintained, this margin profile can support reinvestment in product development, commercial expansion, and clinical adoption while improving resilience across future periods.
Read all positive factors
Zylox-Tonbridge Medical Technology Co., Ltd. Class H (2190) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.41B
Dividend Yield1.93%
Average Volume (3M)367.97K
Price to Earnings (P/E)16.6
Beta (1Y)0.78
Revenue Growth39.30%
EPS Growth109.37%
CountryHK
Employees1,214
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.95
Shares Outstanding336,350,740
10 Day Avg. Volume255,892
30 Day Avg. Volume367,969
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)2.08
Price to Sales (P/S)6.35
P/FCF Ratio24.98
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$28.42Price Target Upside28.25% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.03
Revenue Forecast (FY)HK$1.50B
Zylox-Tonbridge Medical Technology Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Zylox-Tonbridge Medical Technology Co., Ltd. is a global medical device firm specializing in neurovascular and peripheral vascular interventional technologies. Their comprehensive product line for treating ischemic stroke includes the ThromBite Cl...
How the Company Makes Money
Zylox-Tonbridge primarily makes money by selling interventional medical devices to hospitals and other healthcare providers, generating revenue from the commercialization of its proprietary product portfolio used in minimally invasive vascular pro...
Zylox-Tonbridge Medical Technology Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.21B | 1.06B | 782.48M | 527.75M | 334.09M | 177.91M |
| Gross Profit | 883.70M | 762.92M | 559.89M | 384.99M | 252.67M | 131.88M |
| EBITDA | 335.84M | 236.08M | 74.03M | -41.60M | -86.56M | -204.78M |
| Net Income | 302.83M | 244.37M | 100.26M | -78.73M | -113.56M | -199.69M |
Balance Sheet | ||||||
| Total Assets | 3.73B | 3.58B | 3.45B | 3.38B | 3.25B | 3.25B |
| Cash, Cash Equivalents and Short-Term Investments | 1.48B | 1.73B | 1.28B | 1.51B | 1.86B | 2.93B |
| Total Debt | 143.12M | 63.67M | 90.91M | 55.88M | 14.00M | 9.40M |
| Total Liabilities | 733.89M | 343.98M | 351.56M | 328.32M | 159.54M | 103.61M |
| Stockholders Equity | 2.98B | 3.23B | 3.10B | 3.05B | 3.09B | 3.14B |
Cash Flow | ||||||
| Free Cash Flow | 370.16M | 268.72M | -17.26M | -92.48M | -236.60M | -205.80M |
| Operating Cash Flow | 462.43M | 377.07M | 174.08M | 98.44M | -91.32M | -116.21M |
| Investing Cash Flow | -69.60M | -46.54M | -801.36M | -206.24M | -95.05M | -1.33B |
| Financing Cash Flow | -263.43M | -168.64M | -41.98M | -11.46M | -30.26M | 2.81B |
Zylox-Tonbridge Medical Technology Co., Ltd. Class H Technical Analysis
Negative
22.16
Price Trends
20.81
Negative
19.96
Negative
21.35
Negative
Market Momentum
-0.43
Positive
35.33
Neutral
17.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2190, the sentiment is Negative. The current price of 22.16 is above the 20-day moving average (MA) of 20.45, above the 50-day MA of 20.81, and above the 200-day MA of 21.35, indicating a bearish trend. The MACD of -0.43 indicates Positive momentum. The RSI at 35.33 is Neutral, neither overbought nor oversold. The STOCH value of 17.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2190.
Zylox-Tonbridge Medical Technology Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$5.05B | 11.38 | 13.24% | 2.59% | 16.15% | 31.89% | |
70 Outperform | HK$5.01B | 17.60 | 9.20% | 5.45% | 10.27% | 79.65% | |
66 Neutral | HK$6.41B | 16.65 | 9.76% | 1.93% | 39.30% | 109.37% | |
59 Neutral | HK$6.35B | 98.22 | 1.71% | ― | 0.75% | -20.22% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | HK$2.55B | -15.14 | -7.65% | ― | 21.23% | 36.89% | |
46 Neutral | HK$11.65B | 31.23 | 6.07% | 0.06% | -3.62% | ― |
* Healthcare Sector Average
HK:2190
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Zylox-Tonbridge Medical Technology Co., Ltd. Class H Corporate Events
Zylox-Tonbridge Delivers Strong Interim Growth on High-Margin Vascular Devices
Aug 20, 2026
Zylox-Tonbridge reported strong interim results for the six months ended June 30, 2026, with revenue rising 31.1% year-on-year to RMB632.0 million and profit for the period jumping 47.8% to RMB179.1 million. Gross profit margin improved from 71.2%...
Zylox-Tonbridge Schedules Board Meeting to Approve Interim Results
Aug 10, 2026
Zylox-Tonbridge Medical Technology Co., Ltd., a Hong Kong-listed Chinese medical technology company, is governed by a board comprising executive, non-executive and independent non-executive directors, reflecting a standard corporate governance str...
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.