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JOINN Laboratories (China) Co., Ltd. Class H
(6127)
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Rating:64Neutral
Price Target:
HK$24.50
â–²(16.00% Upside)
Action:Reiterated
Date:09/06/26
The score is primarily supported by strong financial positioning (especially a very conservative balance sheet and improved TTM growth/profitability). It is held back by weak near-term technicals (price below key moving averages and negative MACD) and a relatively high valuation multiple with a low dividend yield, alongside mixed cash conversion versus reported earnings.
Positive Factors
Very low leverage and strong capital base
Extremely low leverage reduces refinancing risk and interest burden, while a substantial equity base gives JOINN flexibility to fund laboratories, maintain capacity, and withstand fluctuations in CRO project demand.
Negative Factors
Multi-year revenue contraction
A sustained decline across the annual revenue base signals inconsistent project wins, customer spending, or capacity utilization. The recent rebound is encouraging, but the broader contraction weakens confidence in durable growth visibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage and strong capital base
Extremely low leverage reduces refinancing risk and interest burden, while a substantial equity base gives JOINN flexibility to fund laboratories, maintain capacity, and withstand fluctuations in CRO project demand.
Read all positive factors
JOINN Laboratories (China) Co., Ltd. Class H (6127) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$33.94B
Dividend Yield0.65%
Average Volume (3M)5.66M
Price to Earnings (P/E)31.2
Beta (1Y)1.45
Revenue Growth-5.01%
EPS Growth243.16%
CountryHK
Employees2,649
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)1.33
Shares Outstanding118,995,210
10 Day Avg. Volume3,481,377
30 Day Avg. Volume5,659,181
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)1.65
Price to Sales (P/S)8.31
P/FCF Ratio45.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$23.00Price Target Upside8.90% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)1.36
Revenue Forecast (FY)HK$2.20B
JOINN Laboratories (China) Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Joinn Laboratories (China) Co., Ltd. is a global provider of essential preclinical and non-clinical research services, operating across the United States, mainland China, and various international markets. The company organizes its operations into...
How the Company Makes Money
JOINN Laboratories (China) Co., Ltd. primarily makes money by providing fee-for-service contract research to external customers (e.g., pharmaceutical and biotechnology companies) that outsource parts of their R&D and regulatory-enabling preclinica...
JOINN Laboratories (China) Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
92
Very Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.69B | 1.66B | 2.02B | 2.38B | 2.27B | 1.52B |
| Gross Profit | 340.42M | 343.31M | 573.77M | 1.01B | 1.09B | 739.12M |
| EBITDA | 450.83M | 483.24M | 234.36M | 639.52M | 1.36B | 738.86M |
| Net Income | 982.25M | 297.84M | 74.08M | 396.99M | 1.07B | 557.46M |
Balance Sheet | ||||||
| Total Assets | 10.83B | 9.68B | 9.40B | 10.03B | 10.36B | 8.54B |
| Cash, Cash Equivalents and Short-Term Investments | 4.23B | 2.63B | 2.36B | 4.77B | 3.33B | 4.84B |
| Total Debt | 82.43M | 1.42M | 21.60M | 41.92M | 87.71M | 95.32M |
| Total Liabilities | 1.78B | 1.36B | 1.32B | 1.75B | 2.17B | 1.39B |
| Stockholders Equity | 8.97B | 8.32B | 8.08B | 8.28B | 8.18B | 7.14B |
Cash Flow | ||||||
| Free Cash Flow | 344.31M | 300.96M | 69.54M | 430.15M | 696.23M | 448.41M |
| Operating Cash Flow | 808.16M | 444.57M | 338.93M | 622.88M | 971.07M | 685.66M |
| Investing Cash Flow | -547.09M | -419.19M | -1.96B | -315.43M | -2.16B | -2.07B |
| Financing Cash Flow | -74.60M | -66.98M | -265.63M | -361.68M | -99.33M | 5.29B |
JOINN Laboratories (China) Co., Ltd. Class H Technical Analysis
Negative
21.12
Price Trends
23.78
Negative
21.41
Negative
21.00
Positive
Market Momentum
-0.62
Positive
36.53
Neutral
8.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6127, the sentiment is Negative. The current price of 21.12 is below the 20-day moving average (MA) of 24.17, below the 50-day MA of 23.78, and above the 200-day MA of 21.00, indicating a neutral trend. The MACD of -0.62 indicates Positive momentum. The RSI at 36.53 is Neutral, neither overbought nor oversold. The STOCH value of 8.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6127.
JOINN Laboratories (China) Co., Ltd. Class H Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$540.44B | 20.01 | 27.24% | 1.27% | 29.92% | 65.54% | |
68 Neutral | HK$69.91B | 56.60 | 5.86% | 1.11% | 16.62% | >-0.01% | |
64 Neutral | HK$33.94B | 31.18 | 11.59% | 0.65% | -5.01% | 243.16% | |
63 Neutral | HK$47.61B | 660.00 | 0.44% | 0.35% | 16.21% | -82.18% | |
62 Neutral | HK$70.06B | -13.82 | -16.23% | 0.35% | 53.48% | -120.02% | |
59 Neutral | HK$80.53B | 41.53 | 10.96% | 0.83% | 20.39% | 26.48% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:6127
JOINN Laboratories (China) Co., Ltd. Class H
21.20
-1.91
-8.28%
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41.40
-5.96
-12.58%
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27.54
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188.80
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40.12%
JOINN Laboratories (China) Co., Ltd. Class H Corporate Events
JOINN Labs interim profit soars on fair value gains despite modest revenue growth
Aug 28, 2026
JOINN Laboratories (China) Co., Ltd. reported a modest 5.3% year-on-year rise in revenue to RMB703.8 million for the six months ended 30 June 2026, but delivered a sharply higher gross profit of RMB144.9 million as cost of services fell slightly. ...
JOINN Laboratories Renews De Minimis Connected Leases for Key Beijing Facilities
Aug 28, 2026
JOINN Laboratories (China) Co., Ltd. has renewed leasing arrangements for key facilities in Beijing’s Daxing District, signing three-year leases from 1 September 2026 to 31 August 2029 with the Beijing Joinn Biologics Group for properties us...
JOINN Laboratories sets August board meeting to approve interim results
Aug 18, 2026
JOINN Laboratories (China) Co., Ltd. has scheduled a board meeting for 28 August 2026 to review and approve the Group’s interim results for the six months ended 30 June 2026. The session may also address other corporate matters, signaling an...
JOINN Laboratories Revamps Company Secretarial and Governance Roles
Jul 17, 2026
JOINN Laboratories (China) Co., Ltd. has announced governance changes effective 17 July 2026, with the resignation of joint company secretary, authorised representative and Hong Kong process agent Ms. Cheung Ka Lun Karen due to personal work arran...
JOINN Laboratories Flags Surging Interim Profit on Biological Asset Gains
Jul 14, 2026
JOINN Laboratories (China) Co., Ltd. has issued an earnings estimate for the first half of 2026, forecasting revenue between RMB668.6 million and RMB739.0 million, up as much as 10.5% year on year. The company expects a sharp jump in net profit at...
JOINN Laboratories Adjusts Grant Price in 2026 Restricted A Share Incentive Scheme
Jun 23, 2026
JOINN Laboratories (China) Co., Ltd. has adjusted the grant price under its 2026 Restricted A Share Incentive Scheme, following authorization from its 2025 annual general meeting and prior board approvals for the equity incentive framework. The bo...
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.