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Shanghai Henlius Biotech, Inc. Class H
(2696)
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Rating:64Neutral
Price Target:
HK$72.00
â–²(7.87% Upside)
Action:Reiterated
Date:08/08/26
The score is primarily supported by improving fundamentals, including sustained profitability, continued revenue growth, and generally positive operating/free cash flow, partially offset by 2025 margin and free-cash-flow softness and still-meaningful leverage. Technical signals are mixed (negative MACD and price below the 100-day average despite near-term strength), and valuation looks demanding at ~31.5x earnings with no dividend yield data provided.
Positive Factors
Sustained Profitability and Revenue Growth
Sustained profitability alongside continued revenue growth indicates successful commercialization of biologics and improving operating scale. This supports internally funded development and strengthens the company’s ability to expand its product portfolio over the next several months.
Negative Factors
2025 Margin Compression
The decline in net and operating profitability suggests that costs or investment requirements are rising faster than revenue in the latest period. If sustained, this could limit earnings scalability and reduce the benefit of the company’s otherwise strong gross margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Profitability and Revenue Growth
Sustained profitability alongside continued revenue growth indicates successful commercialization of biologics and improving operating scale. This supports internally funded development and strengthens the company’s ability to expand its product portfolio over the next several months.
Read all positive factors
Shanghai Henlius Biotech, Inc. Class H (2696) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$35.17B
Dividend YieldN/A
Average Volume (3M)869.23K
Price to Earnings (P/E)33.8
Beta (1Y)0.43
Revenue Growth32.63%
EPS Growth8.87%
CountryHK
Employees4,082
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding347,862,400
10 Day Avg. Volume1,249,130
30 Day Avg. Volume869,229
Financial Highlights & Ratios
PEG Ratio-13.16
Price to Book (P/B)7.06
Price to Sales (P/S)4.20
P/FCF Ratio32.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$97.02Price Target Upside45.35% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Shanghai Henlius Biotech, Inc. Class H Business Overview & Revenue Model
Company Description
Shanghai Henlius Biotech, Inc. functions as a biopharmaceutical enterprise, dedicated to the research and advancement of biologic medicines, with a primary focus on cancer, autoimmune conditions, and ophthalmic disorders. Its commercial portfolio ...
How the Company Makes Money
Henlius generates revenue primarily by commercializing biologic drugs and monetizing its biologics pipeline through a combination of direct sales and partnership-based economics. Key revenue streams include: (1) Product sales: revenue from sales o...
Shanghai Henlius Biotech, Inc. Class H Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.44B | 6.67B | 5.72B | 5.39B | 3.21B | 1.68B |
| Gross Profit | 5.55B | 4.98B | 4.18B | 3.92B | 2.37B | 1.16B |
| EBITDA | 1.22B | 1.16B | 1.15B | 911.33M | -310.61M | -671.74M |
| Net Income | 867.35M | 805.64M | 820.47M | 546.02M | -695.26M | -984.05M |
Balance Sheet | ||||||
| Total Assets | 13.10B | 12.37B | 10.60B | 9.90B | 8.92B | 7.17B |
| Cash, Cash Equivalents and Short-Term Investments | 956.02M | 772.54M | 772.96M | 1.01B | 680.48M | 742.32M |
| Total Debt | 3.95B | 3.60B | 3.65B | 4.09B | 3.68B | 2.62B |
| Total Liabilities | 8.56B | 8.40B | 7.58B | 7.71B | 7.29B | 4.88B |
| Stockholders Equity | 4.54B | 3.96B | 3.01B | 2.19B | 1.64B | 2.30B |
Cash Flow | ||||||
| Free Cash Flow | 396.70M | 859.86M | 404.68M | 36.48M | -383.67M | -1.04B |
| Operating Cash Flow | 534.75M | 1.16B | 1.24B | 1.05B | 981.62M | 90.39M |
| Investing Cash Flow | -576.49M | -1.17B | -909.97M | -1.00B | -1.36B | -1.68B |
| Financing Cash Flow | -29.93M | 8.89M | -643.37M | 144.43M | 858.02M | 648.30M |
Shanghai Henlius Biotech, Inc. Class H Technical Analysis
Negative
66.75
Price Trends
63.92
Negative
65.74
Negative
66.26
Negative
Market Momentum
0.24
Positive
44.08
Neutral
27.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2696, the sentiment is Negative. The current price of 66.75 is below the 20-day moving average (MA) of 67.50, above the 50-day MA of 63.92, and above the 200-day MA of 66.26, indicating a bearish trend. The MACD of 0.24 indicates Positive momentum. The RSI at 44.08 is Neutral, neither overbought nor oversold. The STOCH value of 27.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2696.
Shanghai Henlius Biotech, Inc. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | HK$197.41B | 33.16 | 10.51% | ― | 21.93% | 21.94% | |
82 Outperform | HK$39.44B | 3.97 | 30.16% | 1.62% | 101.73% | 249.15% | |
72 Outperform | HK$62.61B | 11.04 | 128.12% | ― | 305.94% | ― | |
70 Outperform | HK$164.53B | 112.83 | 6.06% | ― | 42.64% | 9.67% | |
64 Neutral | HK$35.17B | 33.83 | 20.41% | ― | 32.63% | 8.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | HK$32.77B | -72.62 | -7.32% | ― | 34.83% | 58.94% |
* Healthcare Sector Average
HK:2696
Shanghai Henlius Biotech, Inc. Class H
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Shanghai Henlius Biotech, Inc. Class H Corporate Events
Henlius Strikes Global Biosimilar Alliance with Sandoz
Aug 17, 2026
Shanghai Henlius Biotech has entered a global strategic collaboration with Sandoz AG to develop and commercialize up to 10 monoclonal antibody and antibody-drug conjugate biosimilar products or components. Henlius will lead development and manufac...
Shanghai Henlius Biotech Sets August Board Meeting to Approve Interim Results
Aug 3, 2026
Shanghai Henlius Biotech, Inc. has scheduled a board meeting for 21 August 2026 to review and approve the interim results for the six months ended 30 June 2026. The board will also consider the potential declaration of an interim dividend and addr...
Henlius Wins NMPA Nod to Start New HLX43 Combination Trials in China
Jul 31, 2026
Shanghai Henlius Biotech has received approval from China’s National Medical Products Administration to begin clinical trials of HLX43, an antibody-drug conjugate targeting PD-L1, in combination with bevacizumab with or without chemotherapy ...
Henlius Starts First-in-Human Trial of Novel Trispecific Prostate Cancer Antibody
Jul 30, 2026
Shanghai Henlius Biotech has initiated a first-in-human phase 1 clinical study in Chinese Mainland for HLX3902, a trispecific STEAP1×CD3×CD28 T-cell engager antibody targeting metastatic castration-resistant prostate cancer and other adv...
Shanghai Henlius Biotech Grants New Share Options and RSUs to Strengthen Incentives
Jul 17, 2026
Shanghai Henlius Biotech has approved new equity incentives, granting 4,130,000 share options to 27 participants and 230,000 restricted share units to 11 participants under its existing option and RSU schemes. The grants, which include awards to k...
Henlius Doses First Patient in Global Trial of Nivolumab Biosimilar HLX18
Jul 16, 2026
Shanghai Henlius Biotech has begun dosing the first patient in a global, multicenter phase 1 clinical trial of HLX18, its nivolumab biosimilar, in patients with multiple resected solid tumors in mainland China. The company plans to extend the tria...
Henlius Wins NMPA Nod for HLX37 and HLX43 Combination Trial in Advanced Solid Tumours
Jul 10, 2026
Shanghai Henlius Biotech, Inc. is a China-based biopharmaceutical company focused on developing innovative antibody therapies, including bispecific antibodies and antibody-drug conjugates, for the treatment of advanced and metastatic solid tumours...
Henlius Doses First Patient in Phase 1 Trial for Cetuximab Biosimilar HLX05-N
Jul 8, 2026
Shanghai Henlius Biotech has initiated a key clinical milestone with the first patient dosed in a phase 1 trial of its cetuximab biosimilar HLX05-N for metastatic colorectal cancer in mainland China. The study design compares HLX05-N against U.S.-...
Henlius Starts First-in-Human Trial of Novel Dual-Target Cancer ADC HLX48
Jun 30, 2026
Shanghai Henlius Biotech, Inc. has initiated a first-in-human phase 1 clinical trial in the Chinese mainland for HLX48, a bispecific antibody-drug conjugate targeting EGFR and c-MET in advanced or metastatic solid tumors. The study will evaluate s...
Henlius Doses First U.S. Patient in Global Trial of Ipilimumab Biosimilar HLX13
Jun 25, 2026
Shanghai Henlius Biotech has dosed the first patient in the United States in an international, randomized phase 1 trial of HLX13, its biosimilar version of immunotherapy drug ipilimumab, as a first-line treatment for unresectable advanced hepatoce...
Henlius wins EU nod for new lung cancer use of serplulimab
Jun 25, 2026
Shanghai Henlius Biotech has secured European Commission approval for a new indication of its anti-PD-1 antibody serplulimab, branded as HETRONIFLY in the EU, in combination with carboplatin and nab-paclitaxel for first-line treatment of unresecta...
Henlius Wins GMP Green Light for HANBEIYOU Production in Mainland China
Jun 17, 2026
Shanghai Henlius Biotech, Inc. announced that its wholly owned subsidiary Shanghai Henlius Biologics Co., Ltd. has passed a Good Manufacturing Practice compliance inspection by the Shanghai Medical Products Administration for HANBEIYOU, a pertuzum...
Henlius Wins NMPA Nod for First-in-Class Trispecific Prostate Cancer Therapy Trial
Jun 17, 2026
Shanghai Henlius Biotech has received approval from China’s National Medical Products Administration for a phase 1 clinical trial of HLX3902, a trispecific antibody injection targeting metastatic castration-resistant prostate cancer and othe...
Henlius Wins Australian Nod for Phase 2 NSCLC Trial of HLX43 Combo
Jun 16, 2026
Shanghai Henlius Biotech announced that Australia’s Human Research Ethics Committee has approved, and the Therapeutic Goods Administration has acknowledged, a phase 2 clinical trial of HLX43, an anti-PD-L1 antibody-drug conjugate, in combina...
Henlius Phase 3 Eye Drug HLX04-O Hits Key Goals in Global wAMD Trial
Jun 16, 2026
Shanghai Henlius Biotech announced that its international multi-center phase 3 clinical trial of HLX04-O, a recombinant anti-VEGF humanized monoclonal antibody injection for wet age-related macular degeneration, has met its primary and key seconda...
Henlius Wins China Approval for New Gastric Cancer Use of HANSIZHUANG
Jun 9, 2026
Shanghai Henlius Biotech announced that China’s National Medical Products Administration has approved a new indication for its anti-PD-1 antibody HANSIZHUANG in combination with Oxaliplatin and S-1 as neoadjuvant therapy, followed by adjuvan...
Henlius Starts Global Phase 1 Trial of Pembrolizumab Biosimilar HLX17 in U.S. and China
Jun 5, 2026
Shanghai Henlius Biotech has dosed the first patient in an international, multi-center phase 1 clinical trial of HLX17, its independently developed biosimilar to pembrolizumab, in patients with multiple resected solid tumors in the U.S. and simult...
Henlius Wins China Approval for HANBEIYOU Breast Cancer Biosimilar
May 29, 2026
Shanghai Henlius Biotech has received approval from China’s National Medical Products Administration for HANBEIYOU, its pertuzumab biosimilar injection, for neoadjuvant and adjuvant treatment of HER2-positive early breast cancer and for meta...
Henlius Starts Global Phase 2/3 Trial of ADC HLX43 in Advanced Lung Cancer
May 28, 2026
Shanghai Henlius Biotech has begun dosing the first patient in an international multicentre phase 2/3 clinical trial of HLX43, an anti-PD-L1 antibody-drug conjugate, for advanced or metastatic squamous non-small cell lung cancer after failure of p...
Henlius Starts First-Patient Dosing in Phase 1 Study of Daratumumab Biosimilar HLX15-SC for Newly Diagnosed Multiple Myeloma
May 26, 2026
Shanghai Henlius Biotech has begun dosing the first patient in an international, multicenter phase 1 clinical study of HLX15-SC, a subcutaneous recombinant anti-CD38 fully human monoclonal antibody, in transplant-ineligible patients with newly dia...
Henlius doses first patient in pivotal HLX07–serplulimab lung cancer trial in China
May 26, 2026
Shanghai Henlius Biotech has initiated dosing of the first patient in an international, multicenter phase 2/3 trial in mainland China evaluating its anti-EGFR antibody HLX07 plus HANSIZHUANG and chemotherapy as first-line therapy for advanced squa...
Henlius Wins Key EMA Backing for Serplulimab Lung Cancer Use
May 22, 2026
Shanghai Henlius Biotech said its anti-PD-1 monoclonal antibody serplulimab, marketed as HANSIZHUANG in China and HETRONIFLY in the EU, has received a positive opinion from the European Medicines Agency’s CHMP for use with carboplatin and na...
Henlius Begins First-in-Human Trial of First-in-Class B7-H3 Cancer Fusion Protein
May 22, 2026
Shanghai Henlius Biotech has dosed the first patient in a first-in-human phase 1 clinical trial of HLX316, an experimental B7-H3-targeting sialidase Fc fusion protein, in patients with advanced or metastatic solid tumours in mainland China. The st...
Henlius Wins NMPA Nod for First-in-Human Trial of Bispecific ADC HLX48
May 21, 2026
Shanghai Henlius Biotech has received approval from China’s National Medical Products Administration to begin a phase 1 clinical trial of HLX48, a bispecific antibody-drug conjugate targeting EGFR and c-MET for advanced or metastatic solid t...
Henlius Wins Australian Nod to Start First-in-Class Trispecific Antibody Trial for Advanced Prostate Cancer
May 21, 2026
Shanghai Henlius Biotech has received clearance in Australia to begin a phase 1 clinical trial of HLX3902, a trispecific STEAP1×CD3×CD28 T-cell engager antibody, for metastatic castration-resistant prostate cancer and other advanced soli...
Henlius Doses First EU Patient in Global Phase 2 Trial of HLX43 for Advanced Lung Cancer
May 21, 2026
Shanghai Henlius Biotech has dosed the first patient in an EU country, Spain, in an international multicentre phase 2 clinical study of HLX43, its anti-PD-L1 antibody-drug conjugate, for advanced non-small cell lung cancer. This trial is also bein...
Henlius Shareholders Unanimously Approve 2025 Reports and Profit Distribution
May 19, 2026
Shanghai Henlius Biotech, Inc. reported that its annual general meeting, held in Shanghai on 19 May 2026, met quorum with shareholders or authorised representatives holding approximately 47.85% of voting shares present. All directors attended, and...
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.