Sunho Biologics Inc (2898) Fair Value & Analysis

Healthcare · HK · Market cap HK$1.0B

Below-average quality, and screening another 63% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (HK$2.96). The favourable scenario is already priced in.
• Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts.
• The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
• A fairly wide model range (HK$1.56 to HK$2.96) leaves room in how you read the outcome.

Price vs Fair Value (2 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

27‑month range HK$3.67 – HK$14.52 · fair‑value band HK$1.56 – HK$2.96 · the HK$6.39 price screens above the HK$2.36 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sunho Biologics Inc (2898) currently trades at HK$6.39, while our model-based Fair Value estimate is HK$2.36, implying the stock looks roughly 63.0% overvalued today. The Quality Score stands at 20/100 (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$17.0K. Revenue declined 55.3% year over year. It earns a return on equity of -16.0%. The balance sheet holds a net cash position of HK$37.8M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$1.56 (bear case) to HK$2.96 (bull case); at HK$6.39, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 26% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -47% fair-value upside, at -63%, 2898 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Key figures & financial health

Quality Score breakdown

About the company

Sunho Biologics, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of biologics that regulate immune microenvironment by modulating the innate and adaptive immune systems.

Full company description

Sunho Biologics, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of biologics that regulate immune microenvironment by modulating the innate and adaptive immune systems. It offers IAH0968, an antibody-dependent cell mediated cytotoxicity enhanced monoclonal antibody, which is in the Phase II clinical trials for biliary tract carcinoma and colorectal cancer (CRC). The company also provides IAP0971 and IAE0972 immunocytokines, which have completed Phase I clinical trials for advanced solid tumors, including non-small cell lung cancer and CRC. In addition, its preclinical stage products include IBB0979, an immunocytokine for solid tumors; IBC0966, a clinical stage anti-PD-L1 antibody-signal regulatory protein bifunctional fusion protein for tumor specific immune responses; IBD0333 for solid tumor; IAN0982 for advanced solid tumors; ISH0988, an internally developed bifunctional antibody fusion protein for the treatment of systemic lupus erythematosus; and ISH0613, an internally developed bifunctional anti-inflammatory bispecific antibody for the treatment of inflammatory bowel disease. The company was founded in 2018 and is headquartered in Huzhou, China. Sunho Biologics, Inc. is a subsidiary of Sunho Wisdom Investments Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2017 – FY2025 · reported fiscal years

Sunho Biologics Inc reported revenue of HK$38.0K in FY2025 versus HK$81.7M in FY2018, a compound −66.6%/yr. Reported net income was −HK$80.0M in FY2025.

2898 screens 63% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

Peer Group

Biotechnology · 605 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Biotechnology median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

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.