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Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H
(6990)
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Rating:51Neutral
Price Target:
HK$539.00
▲(3.65% Upside)
Action:Reiterated
Date:07/16/26
The score is held back primarily by weak financial performance—ongoing operating losses and sustained negative free cash flow despite strong revenue growth and high gross margins. Technicals are a notable positive, with a clear uptrend and supportive momentum indicators. Valuation remains challenged due to a negative P/E and no provided dividend yield.
Positive Factors
High gross margin (~72% in 2025)
Sustained ~72% gross margins indicate strong unit economics typical of biologics, providing structural pricing power and the potential for operating leverage as revenue scales. High gross margins create durable room to absorb R&D and commercialization costs if top-line growth continues.
Negative Factors
Widening operating losses
Worsening operating losses and persistent negative net margins reflect that operating spending and R&D currently outpace revenue gains. This undermines near-term profitability prospects and increases the likelihood management must prioritize cash preservation, slowing investment or requiring dilutive financing.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin (~72% in 2025)
Sustained ~72% gross margins indicate strong unit economics typical of biologics, providing structural pricing power and the potential for operating leverage as revenue scales. High gross margins create durable room to absorb R&D and commercialization costs if top-line growth continues.
Read all positive factors
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H (6990) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$117.29B
Dividend YieldN/A
Average Volume (3M)602.23K
Price to Earnings (P/E)―
Beta (1Y)0.73
Revenue Growth43.88%
EPS GrowthN/A
CountryHK
Employees2,300
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.80
Shares Outstanding176,822,250
10 Day Avg. Volume554,529
30 Day Avg. Volume602,233
Financial Highlights & Ratios
PEG Ratio-5.55
Price to Book (P/B)16.74
Price to Sales (P/S)39.59
P/FCF Ratio-265.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$641.15Price Target Upside23.30% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)0.24
Revenue Forecast (FY)HK$2.62B
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H Business Overview & Revenue Model
Company Description
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., a biopharmaceutical company, engages in the research and development, manufacturing, and commercialization of novel drugs in oncology, immunology, metabolism, and other therapeutic areas in the Pe...
How the Company Makes Money
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Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
55
Neutral
Cash Flow
34
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.06B | 1.93B | 1.54B | 803.93M | 31.79M |
| Gross Profit | 1.48B | 1.27B | 759.18M | 527.11M | -10.93M |
| EBITDA | -249.23M | -47.36M | -308.31M | -351.19M | -776.25M |
| Net Income | -381.97M | -266.77M | -574.13M | -616.10M | -875.26M |
Balance Sheet | |||||
| Total Assets | 5.99B | 4.27B | 3.51B | 993.14M | 996.97M |
| Cash, Cash Equivalents and Short-Term Investments | 4.56B | 3.08B | 2.53B | 117.54M | 100.31M |
| Total Debt | 88.44M | 126.75M | 59.92M | 3.01B | 2.93B |
| Total Liabilities | 1.12B | 959.34M | 1.18B | 4.22B | 4.24B |
| Stockholders Equity | 4.87B | 3.31B | 2.33B | -3.21B | -3.24B |
Cash Flow | |||||
| Free Cash Flow | -306.55M | -510.89M | -22.69M | -309.84M | -609.73M |
| Operating Cash Flow | -180.30M | -429.77M | 59.56M | -270.85M | -517.18M |
| Investing Cash Flow | 411.01M | -822.00M | -1.03B | -32.15M | -92.84M |
| Financing Cash Flow | 1.73B | 1.04B | 2.38B | 313.45M | 675.92M |
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H Technical Analysis
Neutral
520.00
Price Trends
508.05
Negative
473.35
Positive
452.47
Positive
Market Momentum
-7.10
Positive
36.41
Neutral
13.23
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6990, the sentiment is Neutral. The current price of 520 is above the 20-day moving average (MA) of 509.30, above the 50-day MA of 508.05, and above the 200-day MA of 452.47, indicating a neutral trend. The MACD of -7.10 indicates Positive momentum. The RSI at 36.41 is Neutral, neither overbought nor oversold. The STOCH value of 13.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:6990.
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. 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% | |
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% | |
51 Neutral | HK$117.29B | -220.66 | -10.25% | ― | 43.88% | ― | |
46 Neutral | HK$32.77B | -72.62 | -7.32% | ― | 34.83% | 58.94% | |
45 Neutral | HK$86.22B | -74.13 | -10.86% | ― | 42.47% | -15.80% |
* Healthcare Sector Average
HK:6990
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Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. Class H Corporate Events
Kelun-Biotech Wins NMPA IND Nod for Dual-Payload ADC SKB565
Jul 27, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. announced that China’s National Medical Products Administration has approved the Investigational New Drug application for SKB565, a novel dual-payload antibody-drug conjugate targeting advanc...
Kelun-Biotech’s sac-TMT Combo Hits Phase 3 Milestone in First-Line Lung Cancer
Jul 14, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., a China-based developer of antibody drug conjugates and immuno-oncology therapies, is advancing its core TROP2-directed ADC sacituzumab tirumotecan (sac-TMT) across a broad range of solid tumors. ...
Kelun-Biotech Raises HK$2.7 Billion in New H Share Placing to Fund R&D Expansion
Jul 10, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has completed a placing of 5,838,000 new H shares under its general mandate, with Goldman Sachs, Citigroup and J.P. Morgan acting as overall coordinators and placing agents. The shares were placed ...
Kelun-Biotech Raises HK$2.7 Billion via Hong Kong Share Placement
Jul 7, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has launched a private placing of 5,838,000 new H shares in Hong Kong at HK$470.20 per share to at least six institutional investors, with Goldman Sachs, Citigroup and J.P. Morgan acting as placing...
Kelun-Biotech Consolidates Company Secretary Role After Chung Resigns
Jul 7, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., a biopharmaceutical company listed in Hong Kong, operates under PRC corporate law while adhering to Hong Kong’s Listing Rules. Its board includes a chairman, executive, non-executive and ind...
Kelun-Biotech Boosts Structured Deposits with CZB and BOC
Jun 30, 2026
Sichuan Kelun-Biotech Biopharmaceutical has expanded its use of bank wealth management products, agreeing on 30 June 2026 to subscribe to a new structured deposit of RMB200 million with CZB, taking its total outstanding deposits with that bank to ...
Kelun-Biotech Shareholders Back All AGM Resolutions, Grant Board Wider Capital Mandates
Jun 29, 2026
Shareholders of Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. approved all resolutions at the annual general meeting held on June 29, 2026 in Chengdu, including the 2025 board report and audited consolidated financial statements. The strong su...
Kelun-Biotech Receives Over RMB700 Million from MediLink Settlement
Jun 12, 2026
Sichuan Kelun-Biotech Biopharmaceutical has disclosed that it recently received RMB602.5 million from MediLink Therapeutics as shared income from the out-licensing of YL201 under a previously agreed settlement. This brings the total amount receive...
Kelun-Biotech Sets 2026 AGM to Decide Profit Distribution and Capital Mandates
Jun 4, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has called its annual general meeting for June 29, 2026 in Chengdu, where shareholders will review the 2025 board report and audited consolidated financial statements, and consider reappointing KPM...
Kelun-Biotech Boosts CZB Structured Deposits to RMB590 Million
Jun 3, 2026
Sichuan Kelun-Biotech Biopharmaceutical has expanded its use of bank wealth management tools, subscribing to new principal-guaranteed structured deposits with CZB totaling RMB490 million in April and June 2026. These subscriptions lift the company...
Kelun-Biotech Grants Performance-Linked RSUs Under 2025 Incentive Scheme
May 25, 2026
Sichuan Kelun-Biotech Biopharmaceutical has granted 435,064 restricted share units to 366 grantees, including its executive director and general manager, under its 2025 Share Incentive Scheme. The RSUs, priced at RMB1.00 per share versus a signifi...
Kelun-Biotech’s Lung Cancer ADC Regimen Shows Strong Phase III Results at ASCO 2026
May 22, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., a Chinese innovator in oncology-focused biopharmaceuticals, is developing antibody-drug conjugates and next-generation targeted therapies. The company is strengthening its presence in lung cancer ...
Kelun-Biotech Wins China IND Approval for Bispecific Cancer Antibody SKB118
May 12, 2026
Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. has received approval from China’s National Medical Products Administration to begin clinical trials of SKB118, a tetravalent bispecific antibody targeting PD-1 and VEGF for the treatment of ...
Kelun-Biotech’s sac-TMT Wins Priority Review for New Lung Cancer Use in China
May 8, 2026
Sichuan Kelun-Biotech said China’s drug regulator has accepted a new indication application for its core TROP2-directed antibody-drug conjugate sacituzumab tirumotecan, in combination with pembrolizumab, as a first-line therapy for certain P...
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.