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Beijing Airdoc Technology Co. Ltd. Class H
(2251)
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Rating:51Neutral
Price Target:
HK$10.00
▼(-19.61% Downside)
Action:Reiterated
Date:09/18/26
The score is held back mainly by continued losses and weak/volatile cash generation despite better 2025 revenue growth and materially stronger gross margins. Technically, the stock’s longer-term trend remains soft (below key longer moving averages with negative MACD), and valuation is constrained by a negative P/E tied to unprofitability.
Positive Factors
Revenue and Margin Improvement
The recovery in revenue growth alongside a substantial gross-margin expansion indicates improving commercial traction and unit economics. If maintained, this combination can support operating leverage, strengthen the economics of the AI platform, and create a clearer path toward sustainable profitability.
Negative Factors
Continued Net Losses
The company has improved materially from its weaker 2024 profile but remains unprofitable at both the operating and net levels. Continued losses can restrict internally funded expansion, weaken returns to shareholders, and leave the business dependent on further execution improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Improvement
The recovery in revenue growth alongside a substantial gross-margin expansion indicates improving commercial traction and unit economics. If maintained, this combination can support operating leverage, strengthen the economics of the AI platform, and create a clearer path toward sustainable profitability.
Read all positive factors
Beijing Airdoc Technology Co. Ltd. Class H (2251) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$861.56M
Dividend YieldN/A
Average Volume (3M)53.31K
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth10.67%
EPS Growth57.27%
CountryHK
Employees181
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)-0.70
Shares Outstanding101,955,610
10 Day Avg. Volume48,730
30 Day Avg. Volume53,312
Financial Highlights & Ratios
PEG Ratio0.47
Price to Book (P/B)0.85
Price to Sales (P/S)6.06
P/FCF Ratio-49.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.37
Revenue Forecast (FY)HK$251.57M
Beijing Airdoc Technology Co. Ltd. Class H Business Overview & Revenue Model
Company Description
Beijing Airdoc Technology Co., Ltd. provides artificial intelligence (AI) empowered retina-based early detection, diagnosis, and health risk assessment solutions in Mainland China and internationally. The company offers a software as a medical dev...
Beijing Airdoc Technology Co. Ltd. Class H Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
82
Very Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 155.91M | 173.26M | 156.37M | 203.96M | 113.66M | 115.18M |
| Gross Profit | 104.48M | 127.33M | 86.68M | 125.13M | 55.85M | 70.24M |
| EBITDA | -26.15M | -8.00M | -259.70M | -113.36M | -159.64M | -126.73M |
| Net Income | -71.48M | -24.98M | -255.46M | -132.53M | -180.00M | -142.63M |
Balance Sheet | ||||||
| Total Assets | 1.26B | 1.31B | 1.41B | 1.68B | 1.74B | 1.89B |
| Cash, Cash Equivalents and Short-Term Investments | 680.28M | 650.73M | 774.82M | 1.14B | 1.41B | 1.78B |
| Total Debt | 26.04M | 26.93M | 31.88M | 9.37M | 8.01M | 8.20M |
| Total Liabilities | 98.59M | 88.07M | 134.86M | 127.13M | 68.59M | 74.19M |
| Stockholders Equity | 1.16B | 1.23B | 1.27B | 1.54B | 1.67B | 1.82B |
Cash Flow | ||||||
| Free Cash Flow | -2.10M | -21.09M | -167.51M | 8.02M | -392.55M | -140.11M |
| Operating Cash Flow | -2.68M | -20.03M | -165.43M | 23.37M | -380.44M | -112.09M |
| Investing Cash Flow | -18.86M | -49.99M | -11.34M | -385.14M | -154.43M | -22.01M |
| Financing Cash Flow | 5.32M | -26.55M | -33.31M | -18.53M | -17.14M | 1.55B |
Beijing Airdoc Technology Co. Ltd. Class H Technical Analysis
Neutral
12.44
Price Trends
9.45
Negative
10.37
Negative
11.07
Negative
Market Momentum
-0.29
Negative
50.28
Neutral
67.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2251, the sentiment is Neutral. The current price of 12.44 is above the 20-day moving average (MA) of 8.90, above the 50-day MA of 9.45, and above the 200-day MA of 11.07, indicating a neutral trend. The MACD of -0.29 indicates Negative momentum. The RSI at 50.28 is Neutral, neither overbought nor oversold. The STOCH value of 67.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2251.
Beijing Airdoc 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$1.73B | 8.74 | 6.97% | 9.89% | 3.85% | -1.23% | |
67 Neutral | HK$1.02B | 9.74 | 5.57% | 2.41% | 4.75% | ― | |
57 Neutral | HK$12.95B | 23.19 | 4.62% | 160.60% | 7.92% | 152.75% | |
52 Neutral | HK$3.68B | 44.69 | 1.88% | 1.17% | 16.87% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | HK$861.56M | -11.01 | -5.98% | ― | 10.67% | 57.27% | |
46 Neutral | HK$1.37B | -5.59 | -14.41% | ― | 2.56% | 20.20% |
* Healthcare Sector Average
HK:2251
Beijing Airdoc Technology Co. Ltd. Class H
9.90
-4.96
-33.37%
HK:1833
Ping An Healthcare and Technology Company
6.01
-14.91
-71.27%
HK:2158
Yidu Tech, Inc.
3.46
-2.54
-42.30%
HK:2219
Chaoju Eye Care Holdings Ltd.
2.43
-0.03
-1.22%
HK:3309
C-MER Eye Care Holdings Limited
0.85
-1.02
-54.57%
HK:6622
Zhaoke Ophthalmology Ltd.
2.49
-1.32
-34.61%
Beijing Airdoc Technology Co. Ltd. Class H Corporate Events
Beijing Airdoc Swings to Interim Loss as Revenue Declines
Aug 28, 2026
Beijing Airdoc Technology reported unaudited interim revenue of RMB67.3 million for the six months ended 30 June 2026, down from RMB83.7 million a year earlier, while gross profit fell to RMB49.3 million from RMB64.1 million. This indicates weaker...
Beijing Airdoc Flags Interim Loss on Heavy AI and Myopia-Business Investment
Aug 21, 2026
Beijing Airdoc Technology Co., Ltd. has warned investors that it expects to post a net loss of no more than RMB50 million for the first half of 2026, reversing a small profit a year earlier. The company attributes the downturn mainly to heavier sp...
Beijing Airdoc Sets August Board Meeting to Approve Interim Results and Consider Dividend
Aug 18, 2026
Beijing Airdoc Technology Co., Ltd. has scheduled a board meeting for 28 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider whether to recommend an interim dividend, a decision...
Beijing Airdoc Wins Unanimous Shareholder Backing at 2025 AGM
Jun 26, 2026
Beijing Airdoc Technology Co., Ltd., a Hong Kong-listed Chinese technology company specializing in AI-driven healthcare and diagnostic solutions, continues to build its presence in data-enabled medical services and health management markets. Its g...
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.