CanSino Biologics Inc. logo

CanSino Biologics Inc.

6185.HK

HKSEHealthcareBiotechnology

Latest quote

HK$27.18

−HK$2.30 · -7.80%

Aug 24, 2:55 PM HKTData delayed

6185.HK company overview

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Company profile

Company website

CanSino Biologics Inc. develops, manufactures, and commercializes vaccines in the People’s Republic of China. The company develops Convidecia and the Ad5-nCoV for Inhalation vaccines to recombinant novel coronavirus disease; Ad5-EBOV, an Ebola virus vaccine; and MCV2 and MCV4 vaccines for the prevention of N. meningitides. It develops DTcP vaccine for infants and DTcP Booster vaccine, which are in Phase I clinical trial for addressing the weaker protection preventing pertussis after primary vaccination. In addition, it develops Tdcp Adolescent and Adult vaccine for treating pertussis; PBPV, a serotype-independent protein-based pneumococcal vaccine that is in Phase I clinical trial; PCV13i, a pneumococcal conjugate vaccine, which is in Phase I clinical trial; and TB Booster for the BCG-vaccinated population which is in Phase I clinical trial. Further, it is developing various preclinical stage products, including DTcP-Hib Combo vaccine; CS-2023 to treat meningitis; CS-2028 for treating multivalent conjugate vaccine; CS-2032 for hingles; CS-2036 to treat polio; CS-2047 for treating tetanus; and CS-2201 DTcP for combination vaccine. The company was incorporated in 2009 and is headquartered in Tianjin, the People’s Republic of China.

Industry
Biotechnology
Sector
Healthcare
Headquarters
CN
CEO
Xue Feng Yu
Listed since
Mar 28, 2019
Employees
1,134

Market position

Day range

Current HK$27.18

52-week range

Current HK$27.18

Open
HK$30.50
Previous close
HK$29.48
Volume
9.73M
6.02× average
Average volume
1.62M
Average daily volume
Market cap
9.52B HKD
Beta
1.22
Market reference 1
50-day average
HK$23.6944
+14.71% above average
200-day average
HK$31.627
-14.06% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
8B CNY
P/E (TTM)
2,537.58×
P/B (TTM)
3.79×
P/S (TTM)
12.32×
EV / EBITDA
131.2×
Earnings yield
0.34%
Free cash flow yield
-1.92%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
75.00%
Operating margin
-0.16%
Net margin
-0.09%
Return on equity
0.55%
Return on assets
0.38%
Return on invested capital
-1.76%

Financial health

Debt / equity
0.24×
Current ratio
3.55×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends137%-127%-391%-656%Gross margin, FY2021: 69.85%Gross margin, FY2022: -18.10%Gross margin, FY2023: -253.78%Gross margin, FY2024: 71.12%Gross margin, FY2025: 66.07%Operating margin, FY2021: 45.14%Operating margin, FY2022: -132.75%Operating margin, FY2023: -589.60%Operating margin, FY2024: -44.33%Operating margin, FY2025: -10.96%Net margin, FY2021: 44.52%Net margin, FY2022: -88.21%Net margin, FY2023: -429.55%Net margin, FY2024: -44.77%Net margin, FY2025: 2.63%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 69.85%. Gross margin FY2022 -18.10%. Gross margin FY2023 -253.78%. Gross margin FY2024 71.12%. Gross margin FY2025 66.07%. Operating margin FY2021 45.14%. Operating margin FY2022 -132.75%. Operating margin FY2023 -589.60%. Operating margin FY2024 -44.33%. Operating margin FY2025 -10.96%. Net margin FY2021 44.52%. Net margin FY2022 -88.21%. Net margin FY2023 -429.55%. Net margin FY2024 -44.77%. Net margin FY2025 2.63%.

Income trends

Revenue

1.03B CNY+21.93%

Operating income

−113.12M CNY+69.85%

Net income

27.15M CNY+406.04M CNY
Income trends across reported periods4.93B CNY2.4B CNY−134.72M CNY−2.67B CNYRevenue, FY2021: 4.3B CNYRevenue, FY2022: 1.03B CNYRevenue, FY2023: 345.18M CNYRevenue, FY2024: 846.34M CNYRevenue, FY2025: 1.03B CNYOperating income, FY2021: 1.94B CNYOperating income, FY2022: −1.37B CNYOperating income, FY2023: −2.04B CNYOperating income, FY2024: −375.22M CNYOperating income, FY2025: −113.12M CNYNet income, FY2021: 1.91B CNYNet income, FY2022: −909.43M CNYNet income, FY2023: −1.48B CNYNet income, FY2024: −378.88M CNYNet income, FY2025: 27.15M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 4.3B CNY. Revenue FY2022 1.03B CNY. Revenue FY2023 345.18M CNY. Revenue FY2024 846.34M CNY. Revenue FY2025 1.03B CNY. Operating income FY2021 1.94B CNY. Operating income FY2022 −1.37B CNY. Operating income FY2023 −2.04B CNY. Operating income FY2024 −375.22M CNY. Operating income FY2025 −113.12M CNY. Net income FY2021 1.91B CNY. Net income FY2022 −909.43M CNY. Net income FY2023 −1.48B CNY. Net income FY2024 −378.88M CNY. Net income FY2025 27.15M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue1.03B CNY846.34M CNY345.18M CNY1.03B CNY4.3B CNY
Cost of goods sold350.15M CNY244.43M CNY1.22B CNY1.22B CNY1.3B CNY
Gross profit681.82M CNY601.91M CNY−876.02M CNY−186.61M CNY3B CNY
Research and development230.47M CNY416.12M CNY637.99M CNY778.26M CNY878.72M CNY
Selling, general, and administrative589.83M CNY563.41M CNY647.85M CNY544.68M CNY337.63M CNY
Operating expenses794.94M CNY958.8M CNY1.16B CNY1.18B CNY1.2B CNY
Interest income68.5M CNY63.87M CNY100.06M CNY65.93M CNY79.65M CNY
Interest expense55.81M CNY59.98M CNY64.15M CNY41.34M CNY20.42M CNY
Depreciation and amortization174.1M CNY240.39M CNY269.05M CNY180.13M CNY65.11M CNY
Operating income−113.12M CNY−375.22M CNY−2.04B CNY−1.37B CNY1.94B CNY
Net income27.15M CNY−378.88M CNY−1.48B CNY−909.43M CNY1.91B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
40%
4 beats, 6 misses, 0 met estimates
Average EPS surprise
-127.32%
10 comparable reports
Latest EPS result
-0.18

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.420.05-0.33-0.71Q3 '24BeatQ4 '24BeatQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26No estimate
Q3 2024, reported Aug 29, 2024: actual -0.22, estimate -0.37, surprise +40.54%, Beat. Q4 2024, reported Oct 29, 2024: actual 0.01, estimate -0.4, surprise +102.50%, Beat. Q1 2025, reported Feb 27, 2025: actual -0.63, estimate -0.24, surprise -162.50%, Miss. Q2 2025, reported Apr 29, 2025: actual -0.05, estimate -0.002, surprise -3167.97%, Miss. Q3 2025, reported Aug 20, 2025: actual -0.006, estimate -0.088, surprise +92.84%, Beat. Q4 2025, reported Oct 27, 2025: actual 0.12, estimate -0.005, surprise +2472.78%, Beat. Q1 2026, reported Mar 30, 2026: actual 0.06, estimate 0.344, surprise -82.43%, Miss. Q2 2026, reported Apr 28, 2026: actual -0.182, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates429.39M328.06M226.73M125.4MQ4 '24MissQ1 '25MissQ2 '25No estimateQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Oct 29, 2024: actual 291.74M HKD, estimate 392.43M HKD, surprise -25.66%, Miss. Q1 2025, reported Feb 27, 2025: actual 297.08M HKD, estimate 336.19M HKD, surprise -11.63%, Miss. Q2 2025, reported Apr 29, 2025: actual 146.37M HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 20, 2025: actual 245.17M HKD, estimate 338.85M HKD, surprise -27.65%, Miss. Q4 2025, reported Oct 27, 2025: actual 339.17M HKD, estimate 321.11M HKD, surprise +5.63%, Beat. Q1 2026, reported Mar 30, 2026: actual 408.43M HKD, estimate 357.36M HKD, surprise +14.29%, Beat. Q2 2026, reported Apr 28, 2026: actual 216.25M HKD, estimate 214.68M HKD, surprise +0.73%, Beat. Q3 2026, reported Aug 27, 2026: actual —, estimate 214.93M HKD, surprise —, Comparison unavailable.

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