GoAI
Get started
ETHK Labs Inc. logo

ETHK Labs Inc.

1931.HK

HKSEHealthcareMedical - Distribution

Open in GoAI

Latest quote

HK$0.60

+HK$0.01 · +1.69%

Aug 21, 3:55 PM HKTData delayed

1931.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

ETHK Labs Inc., formerly IVD Medical Holding Ltd, is an investment holding company that distributes In vitro diagnostic (IVD) products in Mainland China and internationally. The company operates through three segments: Distribution Business, After-sales Services, and Self-branded Products Business. It offers a range of products including IVD analyzers, reagents, and consumables.

Industry
Medical - Distribution
Sector
Healthcare
Headquarters
CN
CEO
Xianya Lin
Listed since
Jul 12, 2019
Employees
910

Market position

Volume
115K
0.18× average
Average volume
646.61K
Average daily volume
Market cap
960.95M HKD
Beta
-0.5
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
5.19B CNY
P/E (TTM)
23.89×
P/B (TTM)
0.28×
P/S (TTM)
0.29×
EV / EBITDA
25.05×
Earnings yield
0.92%
Free cash flow yield
-26.49%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
20.08%
Operating margin
5.92%
Net margin
1.24%
Return on equity
1.18%
Return on assets
0.59%
Return on invested capital
1.36%

Financial health

Debt / equity
0.65×
Current ratio
1.34×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends26%17%8%-1%Gross margin, FY2021: 20.74%Gross margin, FY2022: 22.12%Gross margin, FY2023: 21.75%Gross margin, FY2024: 23.75%Gross margin, FY2025: 20.08%Operating margin, FY2021: 9.22%Operating margin, FY2022: 11.92%Operating margin, FY2023: 11.91%Operating margin, FY2024: 14.60%Operating margin, FY2025: 5.92%Net margin, FY2021: 6.39%Net margin, FY2022: 7.64%Net margin, FY2023: 7.71%Net margin, FY2024: 8.23%Net margin, FY2025: 1.24%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 20.74%. Gross margin FY2022 22.12%. Gross margin FY2023 21.75%. Gross margin FY2024 23.75%. Gross margin FY2025 20.08%. Operating margin FY2021 9.22%. Operating margin FY2022 11.92%. Operating margin FY2023 11.91%. Operating margin FY2024 14.60%. Operating margin FY2025 5.92%. Net margin FY2021 6.39%. Net margin FY2022 7.64%. Net margin FY2023 7.71%. Net margin FY2024 8.23%. Net margin FY2025 1.24%.

Income trends

Revenue

2.82B CNY-10.81%

Operating income

166.99M CNY-63.82%

Net income

34.93M CNY-86.59%
Income trends across reported periods3.48B CNY2.22B CNY973.18M CNY−277.82M CNYRevenue, FY2021: 2.73B CNYRevenue, FY2022: 2.75B CNYRevenue, FY2023: 3.09B CNYRevenue, FY2024: 3.16B CNYRevenue, FY2025: 2.82B CNYOperating income, FY2021: 251.78M CNYOperating income, FY2022: 327.78M CNYOperating income, FY2023: 367.7M CNYOperating income, FY2024: 461.56M CNYOperating income, FY2025: 166.99M CNYNet income, FY2021: 174.54M CNYNet income, FY2022: 210M CNYNet income, FY2023: 238.16M CNYNet income, FY2024: 260.42M CNYNet income, FY2025: 34.93M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.73B CNY. Revenue FY2022 2.75B CNY. Revenue FY2023 3.09B CNY. Revenue FY2024 3.16B CNY. Revenue FY2025 2.82B CNY. Operating income FY2021 251.78M CNY. Operating income FY2022 327.78M CNY. Operating income FY2023 367.7M CNY. Operating income FY2024 461.56M CNY. Operating income FY2025 166.99M CNY. Net income FY2021 174.54M CNY. Net income FY2022 210M CNY. Net income FY2023 238.16M CNY. Net income FY2024 260.42M CNY. Net income FY2025 34.93M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue2.82B CNY3.16B CNY3.09B CNY2.75B CNY2.73B CNY
Cost of goods sold2.25B CNY2.41B CNY2.42B CNY2.14B CNY2.16B CNY
Gross profit566.37M CNY751.17M CNY671.7M CNY608.14M CNY566.27M CNY
Research and development13.32M CNY7.4M CNY8.67M CNY7.22M CNY7.27M CNY
Selling, general, and administrative380.46M CNY305.14M CNY296.29M CNY272.85M CNY307.22M CNY
Operating expenses399.38M CNY289.61M CNY304M CNY280.36M CNY314.49M CNY
Interest income1.83M CNY2.67M CNY2.91M CNY1.97M CNY1.76M CNY
Interest expense60.69M CNY35.98M CNY21.04M CNY30.58M CNY20.42M CNY
Depreciation and amortization26.98M CNY38.2M CNY37.56M CNY35.29M CNY27.12M CNY
Operating income166.99M CNY461.56M CNY367.7M CNY327.78M CNY251.78M CNY
Net income34.93M CNY260.42M CNY238.16M CNY210M CNY174.54M CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
75%
3 beats, 1 miss, 0 met estimates
Average EPS surprise
+164.91%
4 comparable reports
Latest EPS result
-0
Estimate 0.03 · Miss by 109.87%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.150.090.02-0.04Q1 '22No estimateQ3 '22No estimateQ1 '23No estimateQ3 '23No estimateQ1 '24BeatQ3 '24BeatQ2 '25BeatQ1 '26Miss
Q1 2022, reported Mar 18, 2022: actual 0.086, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 19, 2022: actual 0.07, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 17, 2023: actual 0.108, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 18, 2023: actual 0.082, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 15, 2024: actual 0.111, estimate 0.029, surprise +278.07%, Beat. Q3 2024, reported Aug 28, 2024: actual 0.1, estimate 0.029, surprise +240.34%, Beat. Q2 2025, reported Apr 11, 2025: actual 0.102, estimate 0.029, surprise +251.08%, Beat. Q1 2026, reported Mar 27, 2026: actual -0.003, estimate 0.029, surprise -109.87%, Miss.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates2B1.66B1.33B990.81MQ1 '22No estimateQ3 '22No estimateQ1 '23No estimateQ3 '23No estimateQ1 '24BeatQ3 '24BeatQ2 '25BeatQ1 '26Beat
Q1 2022, reported Mar 18, 2022: actual 1.89B HKD, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 19, 2022: actual 1.38B HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 17, 2023: actual 1.79B HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Aug 18, 2023: actual 1.49B HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 15, 2024: actual 1.89B HKD, estimate 1.07B HKD, surprise +76.35%, Beat. Q3 2024, reported Aug 28, 2024: actual 1.45B HKD, estimate 1.07B HKD, surprise +35.48%, Beat. Q2 2025, reported Apr 11, 2025: actual 1.92B HKD, estimate 1.07B HKD, surprise +80.22%, Beat. Q1 2026, reported Mar 27, 2026: actual 1.73B HKD, estimate 1.07B HKD, surprise +60.63%, Beat.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.1242

2024 complete year+76.4% since 2020

Corporate action history

Dividend

Ex-dividend Jul 15, 2024

HK$0.0621

Semi-Annual

Record Jul 16, 2024 · Payment Jul 25, 2024

Dividend

Ex-dividend May 20, 2024

HK$0.0621

Semi-Annual

Record May 21, 2024 · Payment May 29, 2024

Dividend

Ex-dividend Sep 4, 2023

HK$0.0297

Irregular

Record Sep 5, 2023 · Payment Sep 13, 2023

Dividend

Ex-dividend May 23, 2023

HK$0.0556

Semi-Annual

Record May 25, 2023 · Payment Jun 6, 2023

Dividend

Ex-dividend Sep 1, 2022

HK$0.0273

Semi-Annual

Record Sep 2, 2022 · Payment Sep 19, 2022

Dividend

Ex-dividend May 24, 2022

HK$0.0528

Semi-Annual

Record May 25, 2022 · Payment Jun 6, 2022

1931.HK peers

WuXi AppTec Co., Ltd. logo

2359.HK

WuXi AppTec Co., Ltd.

HK$197.8

-3.89%

Jiangsu Hengrui Pharmaceuticals Co.,Ltd logo

1276.HK

Jiangsu Hengrui Pharmaceuticals Co.,Ltd

HK$46.74

-3.03%

BeOne Medicines AG logo

6160.HK

BeOne Medicines AG

HK$222.4

-2.46%

WuXi Biologics (Cayman) Inc. logo

2269.HK

WuXi Biologics (Cayman) Inc.

HK$48.60

-4.71%

Hansoh Pharmaceutical Group Company Limited logo

3692.HK

Hansoh Pharmaceutical Group Company Limited

HK$31.22

-5.62%

Innovent Biologics, Inc. logo

1801.HK

Innovent Biologics, Inc.

HK$100.2

-2.15%

Continue in GoAI

Research 1931.HK

research.disclaimer