SinoMab BioScience Ltd (3681) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of SinoMab BioScience Ltd HK$0.25, price HK$1.00, upside -75.4%, quality 32 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range HK$0.9500 – HK$3.67 · fair‑value band HK$0.1785 – HK$0.3655 · the HK$1.00 price screens above the HK$0.2465 fair value. Dashed = 300-day average. As of Sep 27, 2026.
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SinoMab BioScience Limited, a biopharmaceutical company, engages in the research, development, manufacture, and commercialization of therapeutics for the treatment of immunological diseases primarily monoclonal antibody (mAb)-based biologics in Mainland China and Hong Kong.
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SinoMab BioScience Limited, a biopharmaceutical company, engages in the research, development, manufacture, and commercialization of therapeutics for the treatment of immunological diseases primarily monoclonal antibody (mAb)-based biologics in Mainland China and Hong Kong. Its product pipeline comprises SM03 (Suciraslimab), a first-in-class anti-CD22 mAb, which is in Phase III clinical trial for the treatment of rheumatoid arthritis (RA); is in phase II clinical trial to treat non-Hodgkin's lymphoma and systemic lupus erythematosus; and is in phase I clinical trial to treat alzheimer's disease and sjogren's syndrome. It also develops SM17, a humanized anti-IL-25 receptor, which is in phase I clinical trial to treat asthma and atopic dermatitis, as well as to treat idiopathic pulmonary fibrosis; and SN1011, a Bruton's tyrosine kinase inhibitor, which is in Phase II clinical trial for the treatment of pemphigus, neuromyelitis optical spectrum disorder, and multiple sclerosis, as well as to treat systemic lupus erythematosus. In addition, the company is developing SM06, a humanised Anti-CD22, that is in preclinical trial to treat systemic lupus erythematosus, rheumatoid arthritis, neuromyelitis optica spectrum disorder, and sjogren's syndrome; and SM09, a humanised Anti-CD22, which is in preclinical trial to treat non-hodgkin's lymphoma and autoimmune diseases. Further, it develops Anti-CGC antibody, which is in preclinical trial to treat vitiligo and alopecia areata; and Bispecific antibody candidate (bsAb), which is in preclinical trial to treat osteoporosis. SinoMab BioScience Limited was incorporated in 2001 and is headquartered in Tai Po, Hong Kong.
Stock analysis
SinoMab BioScience Ltd (3681) currently trades at HK$1.00, while our model-based Fair Value estimate is HK$0.2465, 75.4% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: HK$0.1785 (bear) to HK$0.3655 (bull), the price of HK$1.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 32/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
SinoMab BioScience Ltd reported revenue of 0 CNY in FY2025 versus 26.7M CNY in FY2021. Reported net income was −102M CNY in FY2025.
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 53% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −75%, 3681 screens richer than that median.
Fair Value models
Bear HK$0.1785Fair Value HK$0.2465Bull HK$0.3655
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+48.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−57.6%
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
’18
’20
’21
’22
’23
’24
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−3,702.6% (2018) → −7,964.2% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Biotechnology · 638 stocks
Beats the industry median on 3/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score34 · Below median
Fair Value upside−75.4% · Bottom 25%
Profitability
Return on assets−9.6% · Above median
Growth and dividend
Revenue growth60.9% · Top 25%
Balance sheet
Debt / equity0.38× · Highest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/B0.37× · Cheapest 25%
P/S (TTM)33.02× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)100· sector 0
PAST (return on equity)0· sector 0
HEALTH (low debt)81· sector 97
DIVIDEND (yield)0· sector 23
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is SinoMab BioScience Ltd (3681) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of HK$0.2465 versus a price of HK$1.00, about −75% upside (overvalued).
What is the fair value of 3681?
Our model-based fair value for SinoMab BioScience Ltd is HK$0.2465 (as of Sep 27, 2026), built from audited fundamentals. The current price: HK$1.00.
What is the quality score of 3681?
SinoMab BioScience Ltd has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SinoMab BioScience Ltd (3681)?
Our model-based price target is the fair value of HK$0.2465 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario HK$0.1785, optimistic scenario HK$0.3655. It is a calculation from audited fundamentals, not an analyst target.
What is the SinoMab BioScience Ltd stock forecast for 2026?
Our models put fair value at HK$0.2465, about −75% upside versus a price of HK$1.00 (overvalued). Cautious scenario HK$0.1785, optimistic scenario HK$0.3655. The calculation is refreshed regularly with new filings.
What is the revenue of SinoMab BioScience Ltd (3681)?
SinoMab BioScience Ltd reported trailing-twelve-month revenue of about HK$5.7M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of SinoMab BioScience Ltd (3681)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SinoMab BioScience Ltd it is HK$0.2465 per share (as of Sep 27, 2026), against a price of HK$1.00. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is SinoMab BioScience Ltd stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 3681 trades above its calculated fair value: price HK$1.00, fair value HK$0.2465, a gap of about −75% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 3681?
No. The price is what the market pays today (HK$1.00); the fair value is what the company's own numbers justify (HK$0.2465). For SinoMab BioScience Ltd the two are HK$0.7535 per share apart. That gap is exactly why we show both numbers side by side.
How much is SinoMab BioScience Ltd worth?
The market values SinoMab BioScience Ltd at about HK$1.5B (market capitalisation, as of Sep 27, 2026). Per share that is HK$1.00; our models calculate a fair value of HK$0.2465 per share.
What do the bullish and bearish scenarios say about 3681?
Our models span a range for SinoMab BioScience Ltd: cautious scenario HK$0.1785, base HK$0.2465, optimistic HK$0.3655 per share (as of Sep 27, 2026, price HK$1.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of SinoMab BioScience Ltd (3681)?
Balance-sheet figures for SinoMab BioScience Ltd (as of Sep 27, 2026): return on equity −30.0%, debt of 0.38 per unit of equity. They feed the Quality Score of 32/100, which measures business quality independently of the share price.
How far is 3681 from its 52-week high?
SinoMab BioScience Ltd trades at HK$1.00, about 53% below its 52-week high of HK$2.13 and at the low of HK$1.00 (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.2465 is for.
Which stocks are comparable to SinoMab BioScience Ltd?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SinoMab BioScience Ltd stock attractive at the current price?
The data as of Sep 27, 2026: price HK$1.00, calculated fair value HK$0.2465 (−75%), Quality Score 32/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 3681 calculated?
We run SinoMab BioScience Ltd through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of HK$0.2465, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.7 % above its aggregate fair value. SinoMab BioScience Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SinoMab BioScience Ltd (3681)?
The closing price on Sep 30, 2026 was HK$1.00. Our model-based fair value is HK$0.2465, about −75% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SinoMab BioScience Ltd right now?
The price sits above even our optimistic bull case (HK$0.3655). The favourable scenario is already priced in. Weak quality (32/100) 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$0.1785 to HK$0.3655) leaves room in how you read the outcome.
Key figures of SinoMab BioScience Ltd
How large is the market capitalisation of SinoMab BioScience Ltd (3681)?
The market capitalisation of SinoMab BioScience Ltd is HK$1.5B (≈ $189M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of SinoMab BioScience Ltd (3681)?
Earnings per share at SinoMab BioScience Ltd are HK$−0.0500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of SinoMab BioScience Ltd (3681)?
The return on equity (ROE) of SinoMab BioScience Ltd is −30.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SinoMab BioScience Ltd (3681)?
On an EBIT basis the return on assets of SinoMab BioScience Ltd is −23.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SinoMab BioScience Ltd (3681)?
The operating margin of SinoMab BioScience Ltd is 831% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SinoMab BioScience Ltd (3681)?
Revenue at SinoMab BioScience Ltd is growing +60.9% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does SinoMab BioScience Ltd (3681) generate?
The free cash flow of SinoMab BioScience Ltd is −HK$95.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does SinoMab BioScience Ltd (3681) carry?
The net debt of SinoMab BioScience Ltd is HK$5.0M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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