2185 (2185) Fair Value & Analysis

Healthcare · Market cap HK$599M

2 2185 2185 · HK

PriceHK$2.46

Fair ValueHK$1.43

Upside-41.9%

Quality41/100

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Evidence: Low Range HK$1.07 – HK$2.13

Fair value as of: Jul 2, 2026

From 1 valuation models · updated today

Share price −22.2% over the past month.

Price vs Fair Value (12 months)

12‑month range HK$1.87 – HK$9.70 · fair‑value band HK$1.07 – HK$2.13 · the HK$2.46 price screens above the HK$1.43 fair value. As of Jul 2, 2026.

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Analysis

2185 (2185) currently trades at HK$2.46, while our model-based Fair Value estimate is HK$1.43 — implying the stock looks roughly 41.9% overvalued today. We read business quality at 41/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: low).

Trailing-twelve-month revenue stands at HK$44.9M. It earns a return on equity of -10.6%. The balance sheet holds a net cash position of HK$79.6M. Fundamentals as of Jul 2, 2026

Key figures & financial health

Revenue (TTM) HK$44.9M

Net margin -156%

Return on equity -10.6%

Free cash flow −HK$72.9M FY2025

Operating margin -210%

EPS (TTM) HK$-0.1100

More key figures

Net cash HK$79.6M FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

2185 reported revenue of HK$43.8M in FY2025 versus HK$0 in FY2021. Reported net income was −HK$68.2M in FY2025.

Revenue

FY21 HK$0

FY22 HK$0

FY23 HK$0

FY24 HK$0

FY25 HK$43.8M

Net income

FY21 −HK$361M

FY22 −HK$238M

FY23 −HK$194M

FY24 −HK$87.9M

FY25 −HK$68.2M

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6 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).

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Vertex Pharmaceuticals Incorporated VRTX	7,746 MXN	4,803 MXN	-38%
Regeneron Pharmaceuticals, Inc REGN	$635.45	$547.01	-14%
UCB SA UCB	€274.90	€211.40	-23%
argenx SE ARGNF	$900.00	$382.64	-57%
Alnylam Pharmaceuticals, Inc ALNY	$291.22	$111.44	-62%
Samsung Biologics Co 207940	1,000,000 KRW	1,011,109 KRW	+1%

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Frequently asked questions

Is 2185 (2185) undervalued?

As of Jul 2, 2026, our model estimates a fair value of HK$1.43 versus a price of HK$2.46 — about −42% (overvalued). Model-based estimate, not financial advice.

What is the fair value of 2185?

Our model-based fair value for 2185 is HK$1.43 (as of Jul 2, 2026), built from audited fundamentals. The current price is HK$2.46.

What is the quality score of 2185?

2185 has a Quality Score of 41/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.

What is the revenue of 2185 (2185)?

2185 reported trailing-twelve-month revenue of about HK$44.9M (latest available figure, as of Jul 2, 2026).

What is the net profit margin of 2185?

The net profit margin of 2185 is about -155.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.