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Ascentage Pharma Group International
(6855)
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Rating:50Neutral
Price Target:
HK$31.00
▼(-39.10% Downside)
Action:Reiterated
Date:10/22/26
The score is held down primarily by weak financial performance (deep losses and accelerating cash burn) and mixed technicals (below key longer-term moving averages with negative MACD). Offsetting factors include a constructive earnings-call outlook with runway through 2027, growing product revenue, and advancing registrational trials, but valuation support is limited by negative earnings and no dividend.
Positive Factors
Product-led revenue growth
Growing product sales show the company is beginning to convert its oncology pipeline into commercial revenue. Continued adoption of approved medicines can support a more durable revenue base while funding broader commercialization and clinical development.
Negative Factors
Heavy losses and cash burn
Severe negative cash generation and deep net losses reduce financial flexibility despite revenue growth. If operating losses persist, the company may need continued external funding, which can constrain investment choices and create dilution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Product-led revenue growth
Growing product sales show the company is beginning to convert its oncology pipeline into commercial revenue. Continued adoption of approved medicines can support a more durable revenue base while funding broader commercialization and clinical development.
Read all positive factors
Ascentage Pharma Group International (6855) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$10.12B
Dividend YieldN/A
Average Volume (3M)2.35M
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth70.26%
EPS Growth-12.79%
CountryHK
Employees828
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.89
Shares Outstanding374,962,100
10 Day Avg. Volume2,445,006
30 Day Avg. Volume2,351,231
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)12.61
Price to Sales (P/S)29.89
P/FCF Ratio-13.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$45.00Price Target Upside-11.59% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.84
Revenue Forecast (FY)HK$758.78M
Ascentage Pharma Group International Business Overview & Revenue Model
Company Description
Ascentage Pharma Group International is a clinical-stage biopharmaceutical firm dedicated to discovering and developing innovative therapies for various cancers, chronic hepatitis B virus (HBV), and age-related conditions. Its operations are conce...
How the Company Makes Money
Ascentage Pharma primarily makes money through (1) collaboration and licensing arrangements and (2) potential product commercialization as its drug candidates advance toward approval. Collaboration/licensing revenue can include upfront payments, r...
Ascentage Pharma Group International Earnings Call Summary
Earnings Call Date:Aug 19, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 31, 2027
Earnings Call Sentiment Positive
The call was strongly positive, supported by 29.3% revenue growth, $41.6 million in product sales, 2 approved products, encouraging clinical data, progress across 9 registrational trials and cash runway through the end of 2027. The principal challenges were materially higher R&D and commercial expenses, peak operating spending, unresolved NRDL pricing and the fact that several important trial readouts and early-stage program data remain pending.Positive Updates
Revenue Growth and Cash Runway Reaffirmed
Total revenue increased to $44.5 million in the first half of 2026 from $32.6 million in the first half of 2025, representing growth of $11.9 million or 29.3% on a constant exchange rate basis. Product sales were $41.6 million, and management reaffirmed cash runway through the end of 2027.
Negative Updates
Operating Expenses Increased Materially
Research and development expenses rose to $102.8 million from $73.8 million, an increase of $29 million or 32% on a constant exchange basis, primarily to advance enrollment in multiple global registrational trials. Selling and distribution expenses increased to $33.4 million from $19.2 million, up $14.2 million or 64.3%, driven by marketing and commercial investment. Administration expenses increased to $17.5 million from $13.9 million, primarily due to RSU expense.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth and Cash Runway Reaffirmed
Total revenue increased to $44.5 million in the first half of 2026 from $32.6 million in the first half of 2025, representing growth of $11.9 million or 29.3% on a constant exchange rate basis. Product sales were $41.6 million, and management reaffirmed cash runway through the end of 2027.
Read all positive updates
Company Guidance
Management reaffirmed cash runway through the end of 2027 and said enrollment for GLORA-4, POLARIS-1 and POLARIS-2 could complete by late this year or early next year, with potentially 3 NDA to file the second half of next year; POLARIS-2 is expected to support NDA filing based on the 6-month MMR rate and POLARIS-1 based on the 3 months MRD-negative CR rate, with potential filing of those 2 NDAs second half next year. The company expects to complete GLORA-2 enrollment, is in the final stage of closing GLORA-3 enrollment, expects APG-3288 Phase I data potentially at EHA next year, anticipates the IND to be filed soon for autoimmune indications including MS, plans to grow its China commercial team from about 300 toward close to 400 commercial forces, and aims to cover 80% of the market potential with 2 products in China and achieve 2,000 hospitals.Ascentage Pharma Group International Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
38
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 632.78M | 559.26M | 980.65M | 221.98M | 209.71M | 27.91M |
| Gross Profit | 516.09M | 427.35M | 951.57M | 191.44M | 187.71M | 24.58M |
| EBITDA | -1.30B | -1.09B | -285.63M | -743.61M | -820.49M | -904.84M |
| Net Income | -1.45B | -1.21B | -405.43M | -925.64M | -882.92M | -782.42M |
Balance Sheet | ||||||
| Total Assets | 3.24B | 3.97B | 2.62B | 2.50B | 2.83B | 2.94B |
| Cash, Cash Equivalents and Short-Term Investments | 1.90B | 2.47B | 1.26B | 1.10B | 1.50B | 1.75B |
| Total Debt | 2.09B | 1.98B | 1.67B | 1.80B | 1.79B | 1.08B |
| Total Liabilities | 2.67B | 2.63B | 2.34B | 2.43B | 2.42B | 1.71B |
| Stockholders Equity | 556.29M | 1.33B | 264.19M | 60.42M | 408.66M | 1.23B |
Cash Flow | ||||||
| Free Cash Flow | -1.40B | -1.20B | -135.65M | -782.92M | -857.20M | -1.04B |
| Operating Cash Flow | -1.38B | -1.17B | -111.36M | -726.08M | -653.91M | -604.68M |
| Investing Cash Flow | 613.95M | -1.00B | -362.04M | 21.92M | -384.61M | -466.52M |
| Financing Cash Flow | 1.70B | 2.54B | 314.77M | 368.75M | 619.27M | 1.78B |
Ascentage Pharma Group International Technical Analysis
Negative
50.90
Price Trends
30.97
Negative
32.91
Negative
39.41
Negative
Market Momentum
-0.70
Positive
41.65
Neutral
12.15
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6855, the sentiment is Negative. The current price of 50.9 is above the 20-day moving average (MA) of 29.10, above the 50-day MA of 30.97, and above the 200-day MA of 39.41, indicating a bearish trend. The MACD of -0.70 indicates Positive momentum. The RSI at 41.65 is Neutral, neither overbought nor oversold. The STOCH value of 12.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6855.
Ascentage Pharma Group International Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | HK$16.81B | 12.42 | 17.47% | ― | 146.27% | ― | |
57 Neutral | HK$9.58B | -145.11 | -1.02% | ― | 192.64% | 92.31% | |
52 Neutral | HK$21.69B | -12.70 | -27.40% | ― | 5.38% | 16.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | HK$10.12B | -5.93 | -153.78% | ― | 70.26% | -12.79% | |
48 Neutral | HK$6.32B | -56.20 | -9.45% | ― | 68.12% | 81.84% | |
41 Neutral | HK$7.77B | -15.53 | -43.54% | ― | 116.67% | -0.42% |
* Healthcare Sector Average
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Ascentage Pharma Group International Corporate Events
Ascentage Pharma Trustee Buys Additional Shares for 2022 RSU Scheme
Oct 22, 2026
Ascentage Pharma Group International has disclosed that the trustee of its 2022 Restricted Share Unit (RSU) Scheme purchased 200,000 existing shares on the market on 22 October 2026, representing about 0.05% of its issued share capital, at an aver...
Ascentage Pharma Wins Breakthrough Therapy Status in China for First-Line CLL/SLL Drug Combo
Oct 20, 2026
Ascentage Pharma announced that its Bcl-2 inhibitor Lisaftoclax has been granted Breakthrough Therapy Designation in China, when used in combination with acalabrutinib for treatment-naïve adult patients with chronic lymphocytic leukemia or sm...
Ascentage Pharma Trustee Buys HK$5.8 Million in Shares for RSU Scheme
Oct 15, 2026
Ascentage Pharma Group International disclosed that the trustee of its 2022 Restricted Share Unit Scheme has purchased 200,000 existing shares on the Hong Kong market, representing about 0.05% of the company’s issued share capital. The share...
Ascentage Pharma Chairman Lifts Stake in Confidence-Building Share Purchase
Sep 28, 2026
Ascentage Pharma Group International reported that its chairman and executive director, Dr. Yang Dajun, has purchased 38,630 shares on the open market over three days in late September 2026 for about HK$1.16 million, lifting his deemed interest to...
Ascentage Pharma Trustee Buys Shares to Fund 2022 RSU Scheme
Sep 28, 2026
Ascentage Pharma Group International has disclosed that the trustee of its 2022 Restricted Share Unit Scheme purchased 50,000 existing shares on the market on September 28, 2026, for about HK$1.43 million, representing roughly 0.01% of the company...
Ascentage Pharma Trustee Buys Shares to Support 2022 RSU Incentive Scheme
Sep 17, 2026
Ascentage Pharma Group International has reported a new on-market purchase of 50,000 existing shares by its trustee for use in the company’s 2022 restricted share unit scheme. The transaction, completed on September 17, 2026 at an average pr...
Ascentage Pharma Lifts Revenue, Deepens Losses as U.S. Push and BTK Degrader Trials Advance
Aug 19, 2026
Ascentage Pharma reported a 29.3% year-on-year rise in interim revenue to RMB302.2 million for the six months ended June 30, 2026, driven by a 32.6% increase in product sales, notably Lisaftoclax. Operating expenses climbed 36.1% to RMB1,042.7 mil...
Ascentage Pharma Sets Board Meeting to Approve 2026 Interim Results
Aug 5, 2026
Ascentage Pharma Group International has scheduled a board meeting for August 19, 2026, to review and potentially approve the group’s unaudited interim results for the six months ended June 30, 2026, and to authorize their publication. This ...
Ascentage Pharma Strengthens Global Commercial Push With Senior Executive Hires
Aug 2, 2026
Ascentage Pharma has appointed Faiçal Miyara as Chief Business Officer to lead global business development and Jim Ziegler as Chief Commercial Officer to head commercialization of its products in the U.S. and other ex-China markets. Both exec...
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.