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Qyuns Therapeutics Co., Ltd. Class H (2509) AI Stock Analysis

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HK:2509

Qyuns Therapeutics Co., Ltd. Class H

(HKEX:2509)

Select Model
Rating:74Outperform
Price Target:HKD 18.50â–²(20.92% Upside)
Action:upgraded
Date:09/06/26

The score is driven primarily by the sharp improvement in financial performance (strong margins and solid free cash flow) and a low P/E valuation. Offsetting these positives, technical indicators are neutral-to-weak with the price below key moving averages, and the recent profitability/cash flow turnaround is still relatively new given the prior multi-year loss history.

Positive Factors
Strong profitability improvementThe latest period shows a major improvement in scale and profitability, with strong revenue growth and unusually high margins. If these economics persist, they can support reinvestment, strengthen operating resilience, and create meaningful earnings capacity over the next several quarters.
Negative Factors
Profitability turnaround is unprovenThe current earnings surge follows several years of substantial losses, so its durability has not yet been demonstrated through a full operating cycle. Any reversal in revenue or margins could expose the company to renewed losses and make earnings more volatile.

Qyuns Therapeutics Co., Ltd. Class H (2509) vs. iShares MSCI Hong Kong ETF (EWH)

-50%-40%-30%-20%-10%0%10%20%HK:2509-34.39%EWH+7.37%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
HKD 3.42B
Dividend Yield
―
Average Volume (3M)
132.70K
Price to Earnings (P/E)
5.4
Beta (1Y)
0.93
Revenue Growth
230.35%
EPS Growth
―
Country
Hong Kong
Employees
337
Sector
Healthcare
Sector Strength
51
Industry
Biotechnology

Qyuns Therapeutics Co., Ltd. Class H Business Overview & Revenue Model

Company Description

Qyuns Therapeutics Co., Ltd., a biotechnology company established in 2015 and headquartered in Taizhou, China, is focused on the discovery and clinical advancement of biologic therapies. Its primary mission is to address autoimmune and allergic disea...

Qyuns Therapeutics Co., Ltd. Class H Financial Statement Overview

Summary

Strong TTM inflection with revenue at 1.02B (+11.9%) and exceptionally high profitability (gross margin ~88.6%, operating margin ~53.9%, net margin ~53.3%). Cash generation is also robust (OCF 519.9M; FCF 515.9M) with strong conversion. Key risk is durability: results follow multiple years of losses (2021–2024), debt remains meaningful (686.5M), and the turnaround is relatively new.

Income Statement

82Very Positive

Balance Sheet

69Positive

Cash Flow

85Very Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.02B786.08M158.79M14.75M9.66M21.35M
Gross Profit908.13M664.66M92.19M-32.96M9.66M-9.56M
EBITDA599.01M351.83M-309.62M-484.12M-293.62M-153.70M
Net Income546.10M306.31M-335.57M-507.75M-298.19M-411.04M
Balance Sheet
Total Assets1.91B1.60B983.88M795.58M1.16B1.07B
Cash, Cash Equivalents and Short-Term Investments1.02B1.04B556.55M377.25M689.57M620.44M
Total Debt686.50M580.26M527.60M346.06M295.25M290.26M
Total Liabilities1.07B921.62M762.83M494.63M373.69M363.33M
Stockholders Equity861.02M694.33M228.98M294.76M641.72M670.35M
Cash Flow
Free Cash Flow510.93M392.23M-187.85M-308.63M-301.70M-228.64M
Operating Cash Flow519.90M399.85M-186.09M-300.68M-275.23M-157.60M
Investing Cash Flow-632.10M118.69M-25.23M243.11M-5.70M-247.42M
Financing Cash Flow-51.91M93.73M351.81M61.21M211.49M281.48M

Qyuns Therapeutics Co., Ltd. Class H Technical Analysis

Technical Analysis SentimentNegative
Last Price15.30

Price Trends

50DMA16.60Negative
100DMA16.21Negative
200DMA17.55Negative

Market Momentum

MACD-0.32Positive
RSI35.37Neutral
STOCH21.28Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2509, the sentiment is Negative. The current price of 15.30 is below the 20-day moving average (MA) of 16.42, below the 50-day MA of 16.60, and below the 200-day MA of 17.55, indicating a bearish trend. The MACD of -0.32 indicates Positive momentum. The RSI at 35.37 is Neutral, neither overbought nor oversold. The STOCH value of 21.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2509.

Qyuns Therapeutics Co., Ltd. Class H Peers Comparison

Overall Rating

UnderperformOutperform
Sector (51)

Financial Indicators

HK:2509 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
HK:2509HK:250974OutperformHKD 3.47B5.3670.24%―230.35%―
HK:6998HK:699870OutperformHKD 3.26B4.4810.99%―1417.68%660.14%
Sector *51Neutral$7.86B-0.30-43.30%2.27%22.53%-2.21%
HK:1167HK:116748NeutralHKD 3.62B6.0047.76%―286.20%―
HK:6996HK:699645NeutralHKD 1.80B29.596.51%―605.95%―
HK:1541HK:154144NeutralHKD 1.25B-4.64-32.32%―28.93%27.27%
HK:2171HK:217139UnderperformHKD 6.32B-56.08-9.45%―68.12%81.84%

* Healthcare Sector Average

Performance Comparison

-50%-25%0%25%50%HK:2509HK:6996HK:6998HK:1167HK:2171HK:1541Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
HK:2509 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
HK:2509Qyuns Therapeutics Co., Ltd. Class H15.30-8.02-34.39%
HK:6996Antengene Corporation Limited2.79-2.33-45.51%
HK:6998Genor Biopharma Holdings Limited1.62-1.51-48.24%
HK:1167Jacobio Pharmaceuticals Group Co., Ltd.4.60-2.66-36.64%
HK:2171CARsgen Therapeutics Holdings Ltd.10.63-6.92-39.43%
HK:1541ImmuneOnco Biopharmaceuticals (Shanghai) Inc Class H2.90-6.15-67.96%

Qyuns Therapeutics Co., Ltd. Class H Corporate Events

Qyuns Therapeutics Swings to Interim Profit on Surging Licensing Revenue

Aug 19, 2026

Qyuns Therapeutics reported a sharp increase in unaudited interim revenue to RMB424.1 million for the six months ended June 30, 2026, driven mainly by RMB378.6 million in licensing income from overseas deals for QX027N and milestones for QX008N and Q...

Qyuns Therapeutics Sets Board Meeting to Approve 2026 Interim Results

Aug 7, 2026

Qyuns Therapeutics Co., Ltd. has scheduled a board meeting for August 19, 2026 to review and approve the group’s interim results for the six months ended June 30, 2026 and to authorize their publication. The meeting will also address other corp...

Qyuns Therapeutics Wins New QX027N Trial Approvals and Secures Global Licensing Deal

Jul 31, 2026

Qyuns Therapeutics announced that its long-acting bispecific antibody QX027N has received clinical trial approvals in China for chronic obstructive pulmonary disease and chronic rhinosinusitis with nasal polyps, adding two new respiratory indications...

Caldera-Synlogic Merger and $278 Million Raise Bolster Qyuns-Linked IBD Program

Jul 29, 2026

Caldera Therapeutics, Qyuns Therapeutics’ partner for the investigational IBD drug QX030N/CLD-423, has agreed to merge with Synlogic in an all-stock deal that will create a new holding company listed on the Nasdaq Capital Market under the ticke...

Qyuns Therapeutics to Fully Acquire Cellularforce in RMB86 Million Connected Deal

Jun 26, 2026

Qyuns Therapeutics has moved to fully consolidate its subsidiary Cellularforce by acquiring the remaining 34.0001% equity stake from Taizhou Huacheng for RMB86.02 million through its wholly owned unit Saifu Juli. The deal, priced via a public listing...

Qyuns Therapeutics Launches Share Buyback to Address Undervaluation Concerns

Jun 9, 2026

Qyuns Therapeutics Co., Ltd., a Hong Kong-listed Chinese biopharmaceutical company, develops therapeutic products within the healthcare and life sciences sector and is led by chairman and executive director Qiu Jiwan. The company aims to attract inve...

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 06, 2026