Beijing Airdoc Technology Co. Ltd. Class H (2251) AI Stock Analysis

Beijing Airdoc Technology Co. Ltd. Class H

(HKEX:2251)

Select Model

Rating:43Neutral

Price Target:HKD 8.50▼(-7.41% Downside)

Action:reiterated

Date:09/18/26

Financial performance weighs most heavily on the score given persistent losses and cash burn despite low leverage. Neutral technicals and weak valuation from negative earnings provide little offset.

Positive Factors

Revenue and Margin ImprovementThe combination of renewed revenue growth and substantially higher gross margin indicates improving commercial traction and unit economics. If maintained, these gains can increase operating leverage, support reinvestment in AI products, and strengthen the company’s ability to progress toward sustainable profitability.

Negative Factors

Persistent Net LossesContinued net losses show that improved revenue and gross margin have not yet translated into sustainable bottom-line profitability. Until operating costs are better absorbed, the company may remain dependent on its balance-sheet resources and have less capacity to reinvest from internally generated earnings.

Beijing Airdoc Technology Co. Ltd. Class H (2251) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 929.59M
Dividend Yield: ―
Average Volume (3M): 70.39K
Price to Earnings (P/E): -11.1
Beta (1Y): 0.92
Revenue Growth: 10.67%
EPS Growth: 57.27%
Country: Hong Kong
Employees: 155
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Healthcare Information Services

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 device...

Beijing Airdoc Technology Co. Ltd. Class H Financial Statement Overview

Summary

Low income statement and cash flow scores reflect volatile revenue, persistent net losses, and ongoing cash burn, partially offset by balance sheet stability from low debt and solid equity.

Income Statement

35Negative

Balance Sheet

65Positive

Cash Flow

25Negative

Financial statement breakdown
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	-18.09M	-7.51M	-256.38M	-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	-10.77M	-21.09M	-167.51M	8.02M	-392.55M	-140.11M
Operating Cash Flow	-11.34M	-20.03M	-165.43M	23.37M	-380.44M	-112.09M
Investing Cash Flow	12.44M	-49.99M	-11.34M	-385.14M	-154.43M	-22.01M
Financing Cash Flow	-27.31M	-26.55M	-33.31M	-18.53M	-17.14M	1.55B

Beijing Airdoc Technology Co. Ltd. Class H Technical Analysis

Technical Analysis SentimentPositive

Last Price9.18

Price Trends

50DMA9.02Positive

100DMA9.73Negative

200DMA10.68Negative

Market Momentum

MACD-0.01Negative

RSI51.97Neutral

STOCH68.13Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2251, the sentiment is Positive. The current price of 9.18 is above the 20-day moving average (MA) of 8.99, above the 50-day MA of 9.02, and below the 200-day MA of 10.68, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 51.97 is Neutral, neither overbought nor oversold. The STOCH value of 68.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2251.

Beijing Airdoc Technology Co. Ltd. Class H Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

HK:2251 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:2219	73Outperform	HKD 1.66B	8.34	6.97%	10.27%	3.85%	-1.23%
HK:1833	70Outperform	HKD 11.76B	20.98	4.62%	―	7.92%	152.75%
HK:3309	66Neutral	HKD 1.05B	10.10	5.57%	2.35%	4.75%	―
HK:6622	55Neutral	HKD 1.11B	-4.50	-14.41%	―	2.56%	20.20%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HK:2158	46Neutral	HKD 3.05B	36.94	1.88%	1.40%	16.87%	―
HK:2251	43Neutral	HKD 904.97M	-11.13	-5.98%	―	10.67%	57.27%

* Healthcare Sector Average

Performance Comparison

HK:2251 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:2251	Beijing Airdoc Technology Co. Ltd. Class H	9.18	-3.79	-29.22%
HK:1833	Ping An Healthcare and Technology Company	5.44	-8.98	-62.27%
HK:2158	Yidu Tech, Inc.	2.86	-2.95	-50.77%
HK:2219	Chaoju Eye Care Holdings Ltd.	2.36	0.01	0.43%
HK:3309	C-MER Eye Care Holdings Limited	0.85	-0.91	-51.81%
HK:6622	Zhaoke Ophthalmology Ltd.	2.02	-1.13	-36.03%

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 to...

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 spend...

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 th...

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: Sep 18, 2026

Beijing Airdoc Technology Co. Ltd. Class H AI Stock Analysis