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Clover Biopharmaceuticals, Ltd. logo

Clover Biopharmaceuticals, Ltd.

2197.HK

HKSEHealthcareBiotechnology

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Latest quote

HK$2.255

−HK$0.115 · -4.84%

Aug 24, 3:02 PM HKT

2197.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

Clover Biopharmaceuticals, Ltd. is a biotechnology enterprise focused on discovering, developing, and commercializing innovative vaccines and biological therapies. Their efforts target infectious diseases, various cancers, and autoimmune conditions. The company's pipeline features several key candidates: SCB-2019 (CpG 1018/Alum): A COVID-19 vaccine candidate currently advancing through Phase II/III clinical trials. SCB-313: A trimeric fusion protein aimed at treating severe intracavitary malignancies, including malignant ascites, malignant pleural effusions, and peritoneal carcinomatosis, addressing a significant global medical need. SCB-808: Undergoing pivotal Phase III clinical trials for the management of rheumatic disorders. SCB-420: An aflibercept biosimilar in preclinical development for ophthalmologic conditions like wet age-related macular degeneration. SCB-219: A novel TPOR agonist in preclinical stages for the treatment of chemotherapy-induced thrombocytopenia and immune thrombocytopenic purpura. Clover also holds a collaboration and supply agreement with Dynavax, which provides its CpG 1018 adjuvant for use in preclinical studies. The company was established in 2007 and is based in Shanghai, China.

Industry
Biotechnology
Sector
Healthcare
Headquarters
CN
CEO
Joshua G. Liang
Listed since
Nov 5, 2021
Employees
257

Market position

Volume
2.13M
0.46× average
Average volume
4.65M
Average daily volume
Market cap
2.93B HKD
Beta
2.57
Market reference 1

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends794%-2134%-5061%-7988%Gross margin, FY2023: 61.75%Gross margin, FY2024: -1751.59%Gross margin, FY2025: -698.49%Operating margin, FY2023: -6563.83%Operating margin, FY2024: -2475.88%Operating margin, FY2025: -7256.41%Net margin, FY2023: -352.92%Net margin, FY2024: -2351.51%Net margin, FY2025: -5851.41%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2023 61.75%. Gross margin FY2024 -1751.59%. Gross margin FY2025 -698.49%. Operating margin FY2023 -6563.83%. Operating margin FY2024 -2475.88%. Operating margin FY2025 -7256.41%. Net margin FY2023 -352.92%. Net margin FY2024 -2351.51%. Net margin FY2025 -5851.41%.

Income trends

Revenue

3.41M HKD-91.11%

Operating income

−247.75M HKD+73.95%

Net income

−199.78M HKD+77.89%
Income trends across reported periods644.97M HKD−1.78B HKD−4.2B HKD−6.62B HKDRevenue, FY2023: 39.26M HKDRevenue, FY2024: 38.42M HKDRevenue, FY2025: 3.41M HKDOperating income, FY2021: −2.24B HKDOperating income, FY2022: −2.35B HKDOperating income, FY2023: −2.58B HKDOperating income, FY2024: −951.21M HKDOperating income, FY2025: −247.75M HKDNet income, FY2021: −6.02B HKDNet income, FY2022: −2.45B HKDNet income, FY2023: −138.54M HKDNet income, FY2024: −903.43M HKDNet income, FY2025: −199.78M HKDFY2021FY2022FY2023FY2024FY2025
Revenue FY2023 39.26M HKD. Revenue FY2024 38.42M HKD. Revenue FY2025 3.41M HKD. Operating income FY2021 −2.24B HKD. Operating income FY2022 −2.35B HKD. Operating income FY2023 −2.58B HKD. Operating income FY2024 −951.21M HKD. Operating income FY2025 −247.75M HKD. Net income FY2021 −6.02B HKD. Net income FY2022 −2.45B HKD. Net income FY2023 −138.54M HKD. Net income FY2024 −903.43M HKD. Net income FY2025 −199.78M HKD.
Metric (HKD)FY2025FY2024FY2023FY2022FY2021
Revenue3.41M HKD38.42M HKD39.26M HKD——
Cost of goods sold27.26M HKD711.36M HKD15.01M HKD475.64M HKD66.27M HKD
Gross profit−23.85M HKD−672.94M HKD24.24M HKD−475.64M HKD−66.27M HKD
Research and development155.49M HKD183.39M HKD649.89M HKD1.47B HKD1.83B HKD
Selling, general, and administrative65.16M HKD40.1M HKD107.24M HKD113.07M HKD345.71M HKD
Operating expenses223.91M HKD278.26M HKD896.33M HKD1.88B HKD2.17B HKD
Interest income6.17M HKD23.69M HKD16.12M HKD8.51M HKD10.89M HKD
Interest expense367.24K HKD5.76M HKD18.72M HKD5.93M HKD2.52M HKD
Depreciation and amortization26.52M HKD38.3M HKD74.74M HKD28.98M HKD12.29M HKD
Operating income−247.75M HKD−951.21M HKD−2.58B HKD−2.35B HKD−2.24B HKD
Net income−199.78M HKD−903.43M HKD−138.54M HKD−2.45B HKD−6.02B HKD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
25%
1 beat, 3 misses, 0 met estimates
Average EPS surprise
-646.92%
4 comparable reports
Latest EPS result
-0.09

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.72-0.04-0.79-1.55Q3 '22MissQ1 '23MissQ3 '23BeatQ1 '24MissQ3 '24No estimateQ1 '25No estimateQ3 '25No estimateQ1 '26No estimate
Q3 2022, reported Aug 23, 2022: actual -1.23, estimate -0.234, surprise -425.00%, Miss. Q1 2023, reported Mar 28, 2023: actual -1.39, estimate -0.068, surprise -1950.04%, Miss. Q3 2023, reported Aug 22, 2023: actual 0.562, estimate 0.205, surprise +173.75%, Beat. Q1 2024, reported Mar 26, 2024: actual -0.693, estimate 0.242, surprise -386.40%, Miss. Q3 2024, reported Aug 27, 2024: actual -0.086, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 31, 2025: actual -0.681, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 27, 2025: actual -0.088, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 25, 2026: actual -0.089, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.04B1.95B856.55M-237.13MQ3 '22No estimateQ1 '23EstimateQ3 '23MissQ1 '24MissQ3 '24MissQ1 '25No estimateQ3 '25No estimateQ1 '26No estimate
Q3 2022, reported Aug 23, 2022: actual 17.42M HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 28, 2023: actual —, estimate 2.82B HKD, surprise —, Comparison unavailable. Q3 2023, reported Aug 22, 2023: actual 277.73K HKD, estimate 732.45M HKD, surprise -99.96%, Miss. Q1 2024, reported Mar 26, 2024: actual 42.9M HKD, estimate 2.19B HKD, surprise -98.04%, Miss. Q3 2024, reported Aug 27, 2024: actual -10.85M HKD, estimate 2.19B HKD, surprise -100.50%, Miss. Q1 2025, reported Mar 31, 2025: actual 51.61M HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 27, 2025: actual 3.56M HKD, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Mar 25, 2026: actual 274.58K HKD, estimate —, surprise —, Comparison unavailable.

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