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JW (Cayman) Therapeutics Co. Ltd logo

JW (Cayman) Therapeutics Co. Ltd

2126.HK

HKSEHealthcareBiotechnology

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Latest quote

HK$2.015

+HK$0.17 · +9.21%

Aug 25, 3:59 PM HKT

2126.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

JW (Cayman) Therapeutics Co. Ltd is a clinical-stage biotechnology company dedicated to the development, manufacture, and commercialization of cell-based immunotherapies. The company primarily targets hematological cancers and solid tumors through treatments that harness the body's own immune cells to combat disease, notably including CAR-T therapies. Its leading therapeutic candidate is Carteyva (relmacabtagene autoleucel), an anti-CD19 chimeric antigen receptor T-cell (CAR-T) therapy designed to treat a variety of blood cancers. The company's innovative pipeline also features JWCAR129, an autologous CAR-T therapy for multiple myeloma; JWATM204, a TCR T-cell therapy candidate aimed at hepatocellular carcinoma (HCC); and JWATM203, another autologous T-cell receptor mimic therapy specifically targeting alpha-fetoprotein for HCC. Founded in 2016, JW (Cayman) Therapeutics Co. Ltd is headquartered in Shanghai, People's Republic of China.

Industry
Biotechnology
Sector
Healthcare
Headquarters
CN
CEO
Tian Feng
Listed since
Nov 3, 2020
Employees
314

Market position

52-week range

Current HK$2.015

Open
HK$2.015
Previous close
HK$1.845
Volume
0
0× average
Average volume
850.07K
Average daily volume
Market cap
839.19M HKD
Beta
1.92
Market reference 1
50-day average
HK$1.7193
+17.20% above average
200-day average
HK$2.2689
-11.19% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
696.77M CNY
P/E (TTM)
-1.31×
P/B (TTM)
1.29×
P/S (TTM)
2.56×
EV / EBITDA
-4.3×
Earnings yield
-57.71%
Free cash flow yield
-8.37%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
43.15%
Operating margin
-105.50%
Net margin
-196.12%
Return on equity
-97.20%
Return on assets
-54.79%
Return on invested capital
-29.51%

Financial health

Debt / equity
0.47×
Current ratio
1.45×
Altman Z-score
-9.59
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends302%-704%-1710%-2716%Gross margin, FY2021: 29.37%Gross margin, FY2022: 40.33%Gross margin, FY2023: 50.74%Gross margin, FY2024: 48.87%Gross margin, FY2025: 43.03%Operating margin, FY2021: -2464.80%Operating margin, FY2022: -587.42%Operating margin, FY2023: -454.17%Operating margin, FY2024: -290.28%Operating margin, FY2025: -87.48%Net margin, FY2021: -2280.51%Net margin, FY2022: -580.73%Net margin, FY2023: -441.74%Net margin, FY2024: -373.30%Net margin, FY2025: -195.76%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 29.37%. Gross margin FY2022 40.33%. Gross margin FY2023 50.74%. Gross margin FY2024 48.87%. Gross margin FY2025 43.03%. Operating margin FY2021 -2464.80%. Operating margin FY2022 -587.42%. Operating margin FY2023 -454.17%. Operating margin FY2024 -290.28%. Operating margin FY2025 -87.48%. Net margin FY2021 -2280.51%. Net margin FY2022 -580.73%. Net margin FY2023 -441.74%. Net margin FY2024 -373.30%. Net margin FY2025 -195.76%.

Income trends

Revenue

276.31M CNY+74.64%

Operating income

−241.71M CNY+47.37%

Net income

−540.92M CNY+8.42%
Income trends across reported periods389.53M CNY−63.35M CNY−516.22M CNY−969.1M CNYRevenue, FY2021: 30.8M CNYRevenue, FY2022: 145.7M CNYRevenue, FY2023: 173.86M CNYRevenue, FY2024: 158.22M CNYRevenue, FY2025: 276.31M CNYOperating income, FY2021: −759.08M CNYOperating income, FY2022: −855.88M CNYOperating income, FY2023: −789.61M CNYOperating income, FY2024: −459.28M CNYOperating income, FY2025: −241.71M CNYNet income, FY2021: −702.33M CNYNet income, FY2022: −846.14M CNYNet income, FY2023: −768M CNYNet income, FY2024: −590.62M CNYNet income, FY2025: −540.92M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 30.8M CNY. Revenue FY2022 145.7M CNY. Revenue FY2023 173.86M CNY. Revenue FY2024 158.22M CNY. Revenue FY2025 276.31M CNY. Operating income FY2021 −759.08M CNY. Operating income FY2022 −855.88M CNY. Operating income FY2023 −789.61M CNY. Operating income FY2024 −459.28M CNY. Operating income FY2025 −241.71M CNY. Net income FY2021 −702.33M CNY. Net income FY2022 −846.14M CNY. Net income FY2023 −768M CNY. Net income FY2024 −590.62M CNY. Net income FY2025 −540.92M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue276.31M CNY158.22M CNY173.86M CNY145.7M CNY30.8M CNY
Cost of goods sold157.4M CNY80.9M CNY85.64M CNY86.95M CNY21.75M CNY
Gross profit118.91M CNY77.32M CNY88.22M CNY58.76M CNY9.05M CNY
Research and development141.62M CNY282.99M CNY413.62M CNY407.82M CNY414.4M CNY
Selling, general, and administrative219M CNY145.16M CNY117.75M CNY370.64M CNY372.25M CNY
Operating expenses360.62M CNY536.6M CNY877.83M CNY914.64M CNY768.13M CNY
Interest income20.41M CNY28.43M CNY34.03M CNY16.54M CNY8.3M CNY
Interest expense11.14M CNY12.22M CNY12.42M CNY6.79M CNY2.69M CNY
Depreciation and amortization79.76M CNY77.46M CNY99.83M CNY87.07M CNY33.01M CNY
Operating income−241.71M CNY−459.28M CNY−789.61M CNY−855.88M CNY−759.08M CNY
Net income−540.92M CNY−590.62M CNY−768M CNY−846.14M CNY−702.33M CNY

Company facts updated Aug 25, 2026.

Earnings

EPS beat rate
22%
2 beats, 7 misses, 0 met estimates
Average EPS surprise
-160.78%
9 comparable reports
Latest EPS result
-0.76

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates-0.57-0.84-1.12-1.39Q3 '22BeatQ1 '23MissQ3 '23MissQ1 '24MissQ3 '24BeatQ1 '25MissQ3 '25No estimateQ1 '26No estimate
Q3 2022, reported Aug 30, 2022: actual -1.23, estimate -1.34, surprise +7.89%, Beat. Q1 2023, reported Mar 29, 2023: actual -1.14, estimate -1.13, surprise -1.00%, Miss. Q3 2023, reported Aug 29, 2023: actual -1.01, estimate -0.919, surprise -9.41%, Miss. Q1 2024, reported Mar 20, 2024: actual -1.03, estimate -0.891, surprise -16.05%, Miss. Q3 2024, reported Aug 28, 2024: actual -0.623, estimate -0.688, surprise +9.38%, Beat. Q1 2025, reported Mar 27, 2025: actual -0.904, estimate -0.702, surprise -28.72%, Miss. Q3 2025, reported Aug 27, 2025: actual -0.701, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 26, 2026: actual -0.757, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates203.96M155.63M107.29M58.95MQ3 '22BeatQ1 '23MissQ3 '23MissQ1 '24MissQ3 '24MissQ1 '25MissQ3 '25No estimateQ1 '26No estimate
Q3 2022, reported Aug 30, 2022: actual 77.32M HKD, estimate 68.95M HKD, surprise +12.14%, Beat. Q1 2023, reported Mar 29, 2023: actual 90.39M HKD, estimate 91.86M HKD, surprise -1.60%, Miss. Q3 2023, reported Aug 29, 2023: actual 94.82M HKD, estimate 177.35M HKD, surprise -46.54%, Miss. Q1 2024, reported Mar 20, 2024: actual 94.68M HKD, estimate 106.18M HKD, surprise -10.83%, Miss. Q3 2024, reported Aug 28, 2024: actual 93.28M HKD, estimate 115.74M HKD, surprise -19.41%, Miss. Q1 2025, reported Mar 27, 2025: actual 75.96M HKD, estimate 140.13M HKD, surprise -45.79%, Miss. Q3 2025, reported Aug 27, 2025: actual 116.53M HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 26, 2026: actual 193.96M HKD, estimate —, surprise —, Comparison unavailable.

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ETFs holding 2126.HK

Funds reporting this stock among their holdings, ordered by reported position size.

State Street SPDR S&P Emerging Markets Small Cap ETF logoState Street SPDR S&P Emerging Markets Small Cap ETFEWX
Market value
53.02K
Weight
0.01%
AUM
687.92M USD
Expense ratio
0.65%
Price / 1D
$72.84+1.56%
State Street SPDR S&P China ETF logoState Street SPDR S&P China ETFGXC
Market value
29.93K
Weight
0.01%
AUM
478.22M USD
Expense ratio
0.59%
Price / 1D
$90.69+0.33%

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