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Peijia Medical Ltd.
(9996)
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Rating:48Neutral
Price Target:
HK$5.00
▼(-23.20% Downside)
Action:Reiterated
Date:09/06/26
The score is held back primarily by weak financial performance driven by persistent losses and negative free cash flow, despite strong gross margins and some revenue scaling. Technicals are moderately supportive with neutral-to-positive momentum and improvement versus mid-term averages, but the stock remains below its 200-day average. Valuation is also constrained because the company is loss-making (negative P/E) and there is no dividend yield data to offset that.
Positive Factors
Revenue expansion
The company has achieved meaningful revenue scale-up over several years, indicating growing adoption of its interventional medical-device portfolio. Continued expansion can broaden procedure volumes and hospital reach, creating a foundation for operating leverage if commercialization remains effective.
Negative Factors
Persistent operating losses
Persistent operating and net losses show that revenue growth has not yet translated into a profitable business model. The negative margin limits internally generated funding, may require continued cost discipline, and leaves future earnings power dependent on achieving better operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue expansion
The company has achieved meaningful revenue scale-up over several years, indicating growing adoption of its interventional medical-device portfolio. Continued expansion can broaden procedure volumes and hospital reach, creating a foundation for operating leverage if commercialization remains effective.
Read all positive factors
Peijia Medical Ltd. (9996) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$3.43B
Dividend YieldN/A
Average Volume (3M)874.26K
Price to Earnings (P/E)―
Beta (1Y)1.11
Revenue Growth21.23%
EPS Growth36.89%
CountryHK
Employees1,033
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.21
Shares Outstanding676,961,900
10 Day Avg. Volume690,500
30 Day Avg. Volume874,256
Financial Highlights & Ratios
PEG Ratio1.97
Price to Book (P/B)1.95
Price to Sales (P/S)5.04
P/FCF Ratio-11.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$10.34Price Target Upside58.91% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.01
Revenue Forecast (FY)HK$922.45M
Peijia Medical Ltd. Business Overview & Revenue Model
Company Description
Peijia Medical Limited specializes in the innovation and development of advanced medical devices for transcatheter valve therapies and neurointerventional procedures. Their extensive portfolio of transcatheter valve solutions includes numerous TAV...
How the Company Makes Money
Peijia Medical primarily makes money by selling medical devices used in interventional procedures to healthcare providers (e.g., hospitals and catheterization labs). Revenue is generated from (1) commercialization of its interventional product por...
Peijia Medical Ltd. Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 783.99M | 712.87M | 615.48M | 441.13M | 250.83M | 136.53M |
| Gross Profit | 528.47M | 486.05M | 433.62M | 325.37M | 176.20M | 95.65M |
| EBITDA | -33.98M | -133.85M | -176.59M | -348.52M | -359.90M | -546.54M |
| Net Income | -140.99M | -203.29M | -226.58M | -392.52M | -407.81M | -574.22M |
Balance Sheet | ||||||
| Total Assets | 2.91B | 2.66B | 2.69B | 2.67B | 3.32B | 3.16B |
| Cash, Cash Equivalents and Short-Term Investments | 766.57M | 610.52M | 712.52M | 942.92M | 1.74B | 2.30B |
| Total Debt | 652.57M | 434.22M | 253.40M | 221.13M | 131.88M | 7.63M |
| Total Liabilities | 1.06B | 799.05M | 644.11M | 397.88M | 678.86M | 144.48M |
| Stockholders Equity | 1.84B | 1.85B | 2.03B | 2.27B | 2.64B | 3.02B |
Cash Flow | ||||||
| Free Cash Flow | -69.11M | -325.28M | -285.29M | -899.67M | -506.61M | -506.11M |
| Operating Cash Flow | -12.15M | -20.89M | -5.18M | -583.49M | -376.20M | -436.37M |
| Investing Cash Flow | -155.32M | -317.57M | -140.38M | -386.29M | -463.28M | -424.75M |
| Financing Cash Flow | 105.00M | 212.20M | 10.38M | 85.11M | 117.44M | 741.98M |
Peijia Medical Ltd. Technical Analysis
Positive
6.51
Price Trends
4.55
Positive
4.94
Positive
5.52
Negative
Market Momentum
0.15
Positive
54.40
Neutral
32.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9996, the sentiment is Positive. The current price of 6.51 is above the 20-day moving average (MA) of 5.13, above the 50-day MA of 4.55, and above the 200-day MA of 5.52, indicating a neutral trend. The MACD of 0.15 indicates Positive momentum. The RSI at 54.40 is Neutral, neither overbought nor oversold. The STOCH value of 32.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:9996.
Peijia Medical Ltd. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$5.56B | 12.63 | 13.24% | 2.36% | 16.15% | 31.89% | |
67 Neutral | HK$4.71B | 21.50 | 10.38% | 1.74% | 3.83% | -27.04% | |
59 Neutral | HK$5.98B | 92.65 | 1.72% | ― | 0.75% | -20.22% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | HK$1.63B | -0.86 | -6.69% | ― | ― | ― | |
48 Neutral | HK$3.43B | -20.55 | -7.65% | ― | 21.23% | 36.89% | |
45 Neutral | HK$11.65B | 31.24 | 6.07% | 0.06% | -3.62% | ― |
* Healthcare Sector Average
HK:9996
Peijia Medical Ltd.
5.06
-2.65
-34.37%
HK:0853
MicroPort Scientific
6.08
-7.83
-56.29%
HK:1302
LifeTech Scientific Corporation
1.38
-0.57
-29.12%
HK:1789
AK Medical Holdings Ltd.
4.91
-0.71
-12.63%
HK:2160
MicroPort CardioFlow Medtech Corp.
1.28
-6.07
-82.59%
HK:2172
MicroPort NeuroTech Limited
8.06
-5.08
-38.67%
Peijia Medical Ltd. Corporate Events
Peijia Medical Narrows Losses and Extends Lead in China’s TAVR Market
Aug 21, 2026
Peijia Medical reported strong interim results for the six months ended June 30, 2026, with revenue rising 20.1% year on year to RMB424.5 million and losses narrowing sharply. EBITDA and profit before tax both turned positive, segment results swun...
Peijia Medical Sets Board Meeting to Approve Interim Results and Consider Dividend
Aug 10, 2026
Peijia Medical Limited has scheduled a board meeting for August 21, 2026 to review and approve the interim results for the six months ended June 30, 2026, and to authorize their publication. The directors will also consider whether to recommend an...
Peijia Medical posts strong H1 2026 growth on TAVR and neurointerventional expansion
Aug 7, 2026
Peijia Medical reported unaudited revenue of about RMB415 million to RMB435 million for the first half of 2026, representing year-on-year growth of roughly 17% to 23%. The company attributed this performance to the continued expansion of its trans...
Peijia Medical Grants 2.33 Million Share Options to Employees
Jun 26, 2026
Peijia Medical Limited has granted share options to employees under its existing share option scheme adopted in April 2020, aligning incentives with long-term shareholder value. The options cover 2,332,800 ordinary shares at an exercise price of H...
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.