SEHK:2181Biotechs
Mabpharm (SEHK:2181) Profit Growth Meets Cash Conversion And Debt Questions
Mabpharm stock closed flat at HK$0.435 going into these half year numbers, even as traders weighed a biotech now trading on an 18x P/E and freshly profitable over the last twelve months. The headline is not the share price. It is that H1 2026 revenue reached ¥397.9m with basic earnings per share of ¥0.01, keeping the profitability story alive but raising questions about how much of that profit truly converts to cash.
For long term holders, the real debate now shifts to the quality of those...