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Nanjing Leads Biolabs Co Ltd (9887) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Nanjing Leads Biolabs Co Ltd HK$8.96, price HK$50.45, upside -82.2%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · HK

NL Thin data Sep 24, 2026

Nanjing Leads Biolabs Co Ltd

9887 · HK

Weakest SetupStrongly overvalued and low quality.

!Fair value HK$8.96 · Strongly overvalued (−82.2%)
!Quality 35/100
!Weak Growth
!Loss-making · -119.3% net margin (TTM)
!negative free cash flow
!Trails peers (3/9)
!Narrow moat 0/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

HK$93.95 HK$48.40 Fair Value HK$8.96 Jul 2025 Oct 2026

White line = price, green steps = our fair value per fiscal year. As of Sep 24, 2026.

How to read this chart

14‑month range HK$48.40 – HK$93.95 · fair‑value band HK$5.91 – HK$11.20 · the HK$50.45 price screens above the HK$8.96 fair value. As of Sep 24, 2026.

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Company profile

Nanjing Leads Biolabs Co., Ltd., a clinical-stage biotechnology company, engages in the research, development, and commercialization of novel antibody drugs worldwide. It develops therapies in oncology, autoimmune, and other severe diseases.

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Nanjing Leads Biolabs Co., Ltd., a clinical-stage biotechnology company, engages in the research, development, and commercialization of novel antibody drugs worldwide. It develops therapies in oncology, autoimmune, and other severe diseases. The company's lead product LBL-024, a PD-L1/4-1BB bispecific antibody for extra-pulmonary neuroendocrine carcinoma; LBL-007, a novel anti-LAG-3 antibody designed to restore T-cell activity; LBL-034, a novel GPRC5D-targeting T-cell engager for anti-tumor activity. In addition, it develops LeadsBody platform, a portfolio of CD3 T-cell engagers that demonstrate anti-tumor efficacy and safety in preclinical/clinical studies; X-body platform, a 4-1BB/PD-L1 bispecific antibody. The company was founded in 2012 and is headquartered in Nanjing, China.

Stock analysis

Nanjing Leads Biolabs Co Ltd (9887) currently trades at HK$50.45, while our model-based Fair Value estimate is HK$8.96, 82.2% 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 87/100, which puts the evidence level at low.

Scenario range: HK$5.91 (bear) to HK$11.20 (bull), the price of HK$50.45 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 35/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

Nanjing Leads Biolabs Co Ltd reported revenue of 197M CNY in FY2025 versus 9.8M CNY in FY2023, a compound +349.6%/yr. Reported net income was −235M CNY in FY2025.

Key figures

Market cap HK$10.2B (≈ $1.3B) · P/S ratio 57.3 · EPS (TTM) HK$−0.4800 · Net margin −119% · Return on equity −27.6% · Return on assets (EBIT) −29.4% · Operating margin −15.2% · Revenue (TTM) 177M CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 46% below its 52-week high and 4% above 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 −82%, 9887 screens richer than that median.

Fair Value models

Bear HK$5.91 Fair Value HK$8.96 Bull HK$11.20
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.
Highest evidence
NCAV (Graham) HK$4.82 HK$6.46 HK$9.65 51
All 1 models by family
Asset-Based
NCAV (Graham) HK$4.82 HK$6.46 HK$9.65 51

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Quality Score breakdown

Overall quality 35/100

Of which business quality 40 · Market factors (momentum, volatility) 14

Profitability 4
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 97
Balance sheet, leverage, solvency risk
Investment 41
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

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 weak, negative or inconsistent.
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
not computed

9887 screens overvalued: fair value 82% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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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 · 623 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 40 · Below median
Fair Value upside −82.2% · Bottom 25%
Profitability
Return on assets −9.9% · Above median
Net margin (TTM) −119.3% · Bottom 25%
Operating margin (TTM) −15.2% · Bottom 25%
Growth and dividend
Revenue growth 0.0% · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.02× · Cheaper than median
P/S (TTM) 7.30× · Pricier than median

Context: sector, industry, market

Values & ESG

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

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $527.67 $580.44 +10%
Regeneron Pharmaceuticals, Inc REGN $752.25 $1,275 +69%
argenx SE ARGX $959.49 $918.60 −4%
CSL Limited CSL A$175.35 A$192.89 +10%
Samsung Biologics Co 207940 1,354,000 KRW 1,489,400 KRW +10%
BeOne Medicines AG ONC $360.85 $280.94 −22%
Alnylam Pharmaceuticals, Inc ALNY $255.96 $217.88 −15%
Royalty Pharma plc RPRX $58.21 $19.01 −67%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
WuXi Biologics (Cayman) Inc 2269 HK$53.00 HK$58.30 +10%

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Nanjing Leads Biolabs Co Ltd · Fair Value
HK$8.96 −82%Fair Value
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Cite: Fair Value Calculator (2026). "Nanjing Leads Biolabs Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/9887

Frequently asked questions

Is Nanjing Leads Biolabs Co Ltd (9887) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of HK$8.96 versus a price of HK$50.45, about −82% upside (overvalued).
What is the fair value of 9887?
Our model-based fair value for Nanjing Leads Biolabs Co Ltd is HK$8.96 (as of Sep 24, 2026), built from audited fundamentals. The current price: HK$50.45.
What is the quality score of 9887?
Nanjing Leads Biolabs Co Ltd has a Quality Score of 35/100. 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 Nanjing Leads Biolabs Co Ltd (9887)?
Our model-based price target is the fair value of HK$8.96 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario HK$5.91, optimistic scenario HK$11.20. It is a calculation from audited fundamentals, not an analyst target.
What is the Nanjing Leads Biolabs Co Ltd stock forecast for 2026?
Our models put fair value at HK$8.96, about −82% upside versus a price of HK$50.45 (overvalued). Cautious scenario HK$5.91, optimistic scenario HK$11.20. The calculation is refreshed regularly with new filings.
What is the revenue of Nanjing Leads Biolabs Co Ltd (9887)?
Nanjing Leads Biolabs Co Ltd reported trailing-twelve-month revenue of about 177M CNY (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Nanjing Leads Biolabs Co Ltd (9887)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nanjing Leads Biolabs Co Ltd it is HK$8.96 per share (as of Sep 24, 2026), against a price of HK$50.45. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Nanjing Leads Biolabs Co Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 9887 trades above its calculated fair value: price HK$50.45, fair value HK$8.96, a gap of about −82% (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 9887?
No. The price is what the market pays today (HK$50.45); the fair value is what the company's own numbers justify (HK$8.96). For Nanjing Leads Biolabs Co Ltd the two are HK$41.49 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nanjing Leads Biolabs Co Ltd worth?
The market values Nanjing Leads Biolabs Co Ltd at about HK$10.2B (market capitalisation, as of Sep 24, 2026). Per share that is HK$50.45; our models calculate a fair value of HK$8.96 per share.
What do the bullish and bearish scenarios say about 9887?
Our models span a range for Nanjing Leads Biolabs Co Ltd: cautious scenario HK$5.91, base HK$8.96, optimistic HK$11.20 per share (as of Sep 24, 2026, price HK$50.45). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nanjing Leads Biolabs Co Ltd (9887)?
Balance-sheet figures for Nanjing Leads Biolabs Co Ltd (as of Sep 24, 2026): return on equity −27.6%. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is 9887 from its 52-week high?
Nanjing Leads Biolabs Co Ltd trades at HK$50.45, about 46% below its 52-week high of HK$93.95 and 4% above the low of HK$48.40 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of HK$8.96 is for.
Which stocks are comparable to Nanjing Leads Biolabs Co 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 Nanjing Leads Biolabs Co Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price HK$50.45, calculated fair value HK$8.96 (−82%), Quality Score 35/100, 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 9887 calculated?
We run Nanjing Leads Biolabs Co 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$8.96, 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 14.5 % above its aggregate fair value. Nanjing Leads Biolabs Co 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 Nanjing Leads Biolabs Co Ltd (9887)?
The closing price on Oct 2, 2026 was HK$50.45. Our model-based fair value is HK$8.96, about −82% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nanjing Leads Biolabs Co Ltd right now?
The price sits above even our optimistic bull case (HK$11.20). The favourable scenario is already priced in. Weak quality (35/100) 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$5.91 to HK$11.20) leaves room in how you read the outcome.

Key figures of Nanjing Leads Biolabs Co Ltd

How large is the market capitalisation of Nanjing Leads Biolabs Co Ltd (9887)?
The market capitalisation of Nanjing Leads Biolabs Co Ltd is HK$10.2B (≈ $1.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Nanjing Leads Biolabs Co Ltd (9887)?
The price-to-sales ratio of Nanjing Leads Biolabs Co Ltd is 57.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Nanjing Leads Biolabs Co Ltd (9887)?
Earnings per share at Nanjing Leads Biolabs Co Ltd are HK$−0.4800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Nanjing Leads Biolabs Co Ltd (9887)?
The net margin of Nanjing Leads Biolabs Co Ltd is −119% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Nanjing Leads Biolabs Co Ltd (9887)?
The return on equity (ROE) of Nanjing Leads Biolabs Co Ltd is −27.6% (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 Nanjing Leads Biolabs Co Ltd (9887)?
On an EBIT basis the return on assets of Nanjing Leads Biolabs Co Ltd is −29.4% (avg 4y). 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 Nanjing Leads Biolabs Co Ltd (9887)?
The operating margin of Nanjing Leads Biolabs Co Ltd is −15.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much free cash flow does Nanjing Leads Biolabs Co Ltd (9887) generate?
The free cash flow of Nanjing Leads Biolabs Co Ltd is −165M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Nanjing Leads Biolabs Co Ltd (9887) hold?
Nanjing Leads Biolabs Co Ltd holds more cash than debt, 941M CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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