
Zai Lab Limited
9688.HKHKSEHealthcareBiotechnology
Latest quote
HK$19.81
−HK$0.53 · -2.61%
9688.HK company overview
Regular session · HKT · Market data may be delayed.
Company profile
Company websiteZai Lab Limited, established in 2013 and based in Shanghai, China, is a biopharmaceutical company dedicated to developing and bringing to market innovative medical treatments. Its core focus spans oncology, autoimmune diseases, infectious diseases, and neurological conditions, primarily serving patients in Mainland China and Hong Kong. The company's portfolio of commercialized products includes Zejula, an oral, once-daily poly polymerase 1/2 inhibitor; Optune, a non-invasive device employing tumor treating fields; NUZYRA for addressing acute bacterial skin and skin structure infections and community-acquired bacterial pneumonia; and Qinlock, indicated for gastrointestinal stromal tumors. Zai Lab also maintains a robust pipeline of investigational therapies. This pipeline features numerous oncology assets such as Odronextamab for various lymphomas, Repotrectinib—a tyrosine kinase inhibitor targeting ROS1 and TRK fusions, Margetuximab for breast and gastroesophageal cancers, Adagrasib for KRAS-G12C-mutated solid tumors, and Bemarituzumab for gastric and gastroesophageal junction cancers. Other notable pipeline candidates include CLN-081 for specific non-small cell lung cancers, multi-targeted kinase inhibitors like Elzovantinib, several monoclonal antibodies (e.g., Tebotelimab, Retifanlimab, ZL-1201), and immune modulators such as Efgartigimod for reducing disease-causing IgG antibodies and ZL-1102 targeting IL-17A. Additionally, the company is advancing therapies like KarXT for psychiatric and neurological disorders, novel EGFR inhibitors (ZL-2313, ZL-2314), a CDC7 kinase inhibitor (ZL-2309), and Sulbactam/durlobactam for serious Acinetobacter infections, showcasing its commitment to a broad range of therapeutic innovations.
- Industry
- Biotechnology
- Sector
- Healthcare
- Headquarters
- CN
- CEO
- Ying Du
- Listed since
- Sep 28, 2020
- Employees
- 1,784
Market position
Day range
Current HK$19.81
52-week range
Current HK$19.81
- Open
- HK$20.30
- Previous close
- HK$20.34
- Volume
- 2.06M
- 0.18× average
- Average volume
- 11.48M
- Average daily volume
- Market cap
- 22.37B HKD
- Beta
- 0.78
- Market reference 1
- 50-day average
- HK$15.8066
- +25.33% above average
- 200-day average
- HK$15.192
- +30.40% above average
Financials
Financial snapshot
Latest / TTMValuation & yield
- Enterprise value
- 1.37B USD
- P/E (TTM)
- -14.5×
- P/B (TTM)
- 4.65×
- P/S (TTM)
- 6.35×
- EV / EBITDA
- -6.63×
- Earnings yield
- -9.15%
- Free cash flow yield
- -8.29%
- Dividend yield
- 0.00%
Profitability & efficiency
- Gross margin
- 56.47%
- Operating margin
- -58.73%
- Net margin
- -41.86%
- Return on equity
- -24.57%
- Return on assets
- -15.00%
- Return on invested capital
- -23.37%
Financial health
- Debt / equity
- 0.42×
- Current ratio
- 2.45×
Financial statements
Margin trends
Profitability as a percentage of reported revenue.
Income trends
Revenue
Operating income
Net income
| Metric (USD) | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | 460.84M USD | 398.99M USD | 266.72M USD | 215.04M USD | 144.31M USD |
| Cost of goods sold | 191.36M USD | 147.86M USD | 95.82M USD | 74.02M USD | 52.24M USD |
| Gross profit | 269.47M USD | 251.13M USD | 170.9M USD | 141.02M USD | 92.07M USD |
| Research and development | 221.23M USD | 234.5M USD | 265.87M USD | 286.41M USD | 573.31M USD |
| Selling, general, and administrative | 278.02M USD | 298.74M USD | 281.61M USD | 258.97M USD | 218.83M USD |
| Operating expenses | 499.25M USD | 533.25M USD | 537.48M USD | 545.38M USD | 792.14M USD |
| Interest income | 33.1M USD | 37.11M USD | 39.8M USD | 14.58M USD | 2.19M USD |
| Interest expense | 5.22M USD | 2.25M USD | — | — | — |
| Depreciation and amortization | 23.88M USD | 11.86M USD | 9.03M USD | 8.23M USD | 6.49M USD |
| Operating income | −229.77M USD | −282.12M USD | −366.57M USD | −404.36M USD | −700.06M USD |
| Net income | −175.8M USD | −257.1M USD | −334.62M USD | −481.99M USD | −692.44M USD |
Company facts updated Aug 24, 2026.
Earnings
- EPS beat rate
- 55%
- 6 beats, 5 misses, 0 met estimates
- Average EPS surprise
- +12.69%
- 11 comparable reports
- Latest EPS result
- -0.39
- Estimate -0.55 · Beat by 28.05%
EPS: actual versus estimate
Recent quarterly results
Revenue: actual versus estimate
Recent quarterly results
Analyst ratings
Third-party consensus; not a GoAI recommendation.
Recent analyst actions
9688.HK peers
ETFs holding 9688.HK
Funds reporting this stock among their holdings, ordered by reported position size.
iShares Core MSCI Emerging Markets ETFIEMG31.66M0.02%160B USD0.09%$81.57+0.64%
Vanguard Total International Stock ETFVXUS28.41M0.00%646.2B USD0.05%$87.71+0.78%
Vanguard FTSE Emerging Markets ETFVWO27.59M0.02%162.3B USD0.06%$60.45+0.72%
iShares Core MSCI Total International Stock ETFIXUS4.61M0.01%60.91B USD0.07%$97.945+0.76%
Vanguard FTSE All-World ex-US ETFVEU4.55M0.00%95.9B USD0.04%$85.69+0.82%
Schwab Emerging Markets Equity ETFSCHE3.22M0.02%12.89B USD0.06%$36.97+0.71%
State Street SPDR Portfolio Emerging Markets ETFSPEM2.95M0.02%17.57B USD0.07%$52.38+0.61%
Vanguard Total World Stock ETFVT1.71M0.00%97.9B USD0.06%$160.77+0.53%
iShares Core MSCI Emerging Markets ETFIEMG- Market value
- 31.66M
- Weight
- 0.02%
- AUM
- 160B USD
- Expense ratio
- 0.09%
- Price / 1D
- $81.57+0.64%
Vanguard Total International Stock ETFVXUS- Market value
- 28.41M
- Weight
- 0.00%
- AUM
- 646.2B USD
- Expense ratio
- 0.05%
- Price / 1D
- $87.71+0.78%
Vanguard FTSE Emerging Markets ETFVWO- Market value
- 27.59M
- Weight
- 0.02%
- AUM
- 162.3B USD
- Expense ratio
- 0.06%
- Price / 1D
- $60.45+0.72%
iShares Core MSCI Total International Stock ETFIXUS- Market value
- 4.61M
- Weight
- 0.01%
- AUM
- 60.91B USD
- Expense ratio
- 0.07%
- Price / 1D
- $97.945+0.76%
Vanguard FTSE All-World ex-US ETFVEU- Market value
- 4.55M
- Weight
- 0.00%
- AUM
- 95.9B USD
- Expense ratio
- 0.04%
- Price / 1D
- $85.69+0.82%
Schwab Emerging Markets Equity ETFSCHE- Market value
- 3.22M
- Weight
- 0.02%
- AUM
- 12.89B USD
- Expense ratio
- 0.06%
- Price / 1D
- $36.97+0.71%
State Street SPDR Portfolio Emerging Markets ETFSPEM- Market value
- 2.95M
- Weight
- 0.02%
- AUM
- 17.57B USD
- Expense ratio
- 0.07%
- Price / 1D
- $52.38+0.61%
Vanguard Total World Stock ETFVT- Market value
- 1.71M
- Weight
- 0.00%
- AUM
- 97.9B USD
- Expense ratio
- 0.06%
- Price / 1D
- $160.77+0.53%
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