Announcement • Jun 30
HitGen Inc. to Report First Half, 2026 Results on Aug 27, 2026 HitGen Inc. announced that they will report first half, 2026 results on Aug 27, 2026 New Risk • Jun 28
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 97% Dividend yield: 0.4% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Declared Dividend • Jun 15
Dividend increased to CN¥0.13 Dividend of CN¥0.13 is 117% higher than last year. Ex-date: 18th June 2026 Payment date: 18th June 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has decreased over the past 66 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 79% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.10 (vs CN¥0.07 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.10 (up from CN¥0.07 in 1Q 2025). Revenue: CN¥160.5m (up 50% from 1Q 2025). Net income: CN¥41.5m (up 47% from 1Q 2025). Profit margin: 26% (in line with 1Q 2025). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Apr 29
HitGen Inc., Annual General Meeting, May 29, 2026 HitGen Inc., Annual General Meeting, May 29, 2026, at 14:00 China Standard Time. Location: 2F, Building C2, No. 18, Huigu Dongyi Road, Shuangliu District, Chengdu, Sichuan China Announcement • Mar 30
HitGen Inc. to Report Q1, 2026 Results on Apr 29, 2026 HitGen Inc. announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Mar 01
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: CN¥0.28 (up from CN¥0.13 in FY 2024). Revenue: CN¥525.6m (up 23% from FY 2024). Net income: CN¥114.0m (up 122% from FY 2024). Profit margin: 22% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. New Risk • Jan 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Dec 26
HitGen Inc. to Report Fiscal Year 2025 Results on Apr 29, 2026 HitGen Inc. announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.11 (vs CN¥0.18 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.11. Revenue: CN¥142.8m (up 38% from 3Q 2024). Net income: CN¥42.8m (up 115% from 3Q 2024). Profit margin: 30% (up from 19% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Life Sciences industry in China. Announcement • Sep 30
HitGen Inc. to Report Q3, 2025 Results on Oct 30, 2025 HitGen Inc. announced that they will report Q3, 2025 results on Oct 30, 2025 Major Estimate Revision • Aug 30
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CN¥0.157 to CN¥0.177. Revenue forecast steady at CN¥504.7m. Net income forecast to grow 13% next year vs 26% growth forecast for Life Sciences industry in China. Consensus price target up from CN¥16.90 to CN¥27.20. Share price rose 14% to CN¥25.86 over the past week. Announcement • Aug 27
HitGen Inc. Introduces OpenDEL™ 5.0 HitGen Inc. is raising the bar with the introduction of OpenDEL™ 5.0 - featuring a total of 4 billion diverse compounds designed to tackle challenging biological targets. OpenDEL™ 5.,0 comes in a convenient kit format that is accessible to scientists in industry and academia alike. Key Improvements: Expanded Chemical Diversity: 4 billion Compounds; Increased Library Size: Now with 25% more compounds, OpenDEL™ 5.'0 offers 3.8 billion small molecules compounds and 200 million peptide compounds to further expand chemical space for targeting protein-protein-interactions (PPI). Encompassing Library Design: 59 distinct libraries provide a broad range of chemistries to address different types of targets and discovery challenges; Optional Macrocycle Library: Unlocking Challenging Targets; A dedicated macrocycle library: Available as an add-on, featuring 4-10 amino acids in the ring. Comes with a linear peptide control library; Dual-Kit Flexibility: Choose between OpenDEL™-Small Molecules or OpenDEL™-Macrocycle - or combine both for maximum coverage; Streamlined Workflow & Faster Access; Redesigned protocols: Intuitive visual guides simplify key steps, reducing onboarding time; Expedited delivery: Next-day shipping available to minimize wait time. Announcement • Jun 30
HitGen Inc. to Report First Half, 2025 Results on Aug 28, 2025 HitGen Inc. announced that they will report first half, 2025 results on Aug 28, 2025 Declared Dividend • Jun 15
Dividend increased to CN¥0.06 Dividend of CN¥0.06 is 20% higher than last year. Ex-date: 18th June 2025 Payment date: 18th June 2025 Dividend yield will be 0.4%, which is lower than the industry average of 1.4%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (31% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: CN¥0.07 (vs CN¥0.03 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.07 (up from CN¥0.03 in 1Q 2024). Revenue: CN¥106.7m (flat on 1Q 2024). Net income: CN¥28.3m (up 103% from 1Q 2024). Profit margin: 27% (up from 13% in 1Q 2024). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
HitGen Inc., Annual General Meeting, May 23, 2025 HitGen Inc., Annual General Meeting, May 23, 2025, at 14:30 China Standard Time. Location: 2F, Building C2, No. 18, Huigu East 1st Road, Shuangliu District, Chengdu, Sichuan China New Risk • Apr 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Announcement • Mar 28
HitGen Inc. to Report Q1, 2025 Results on Apr 26, 2025 HitGen Inc. announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Mar 02
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: CN¥0.13 (up from CN¥0.10 in FY 2023). Revenue: CN¥427.0m (up 15% from FY 2023). Net income: CN¥50.9m (up 25% from FY 2023). Profit margin: 12% (in line with FY 2023). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 6.1%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 4% per year. New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Dec 27
HitGen Inc. to Report Fiscal Year 2024 Results on Apr 26, 2025 HitGen Inc. announced that they will report fiscal year 2024 results on Apr 26, 2025 New Risk • Nov 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • Oct 30
Price target increased by 43% to CN¥16.90 Up from CN¥11.80, the current price target is provided by 1 analyst. New target price is 21% above last closing price of CN¥13.94. Stock is down 12% over the past year. The company is forecast to post earnings per share of CN¥0.12 for next year compared to CN¥0.10 last year. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.18 (vs CN¥0.031 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.18 (up from CN¥0.031 in 3Q 2023). Revenue: CN¥103.5m (up 15% from 3Q 2023). Net income: CN¥19.9m (up 60% from 3Q 2023). Profit margin: 19% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 22
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 28% to CN¥12.32. The fair value is estimated to be CN¥10.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has declined by 19%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 56% in the next 2 years. New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Sep 30
HitGen Inc. to Report Q3, 2024 Results on Oct 26, 2024 HitGen Inc. announced that they will report Q3, 2024 results on Oct 26, 2024 Buy Or Sell Opportunity • Jul 31
Now 20% overvalued Over the last 90 days, the stock has fallen 24% to CN¥10.30. The fair value is estimated to be CN¥8.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 1.1% in the next 2 years. Buy Or Sell Opportunity • Jul 11
Now 25% overvalued Over the last 90 days, the stock has fallen 13% to CN¥10.84. The fair value is estimated to be CN¥8.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.1% over the last 3 years. Earnings per share has declined by 23%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 1.1% in the next 2 years. Announcement • Jun 29
HitGen Inc. to Report First Half, 2024 Results on Aug 29, 2024 HitGen Inc. announced that they will report first half, 2024 results on Aug 29, 2024 Announcement • Apr 26
HitGen Inc., Annual General Meeting, May 22, 2024 HitGen Inc., Annual General Meeting, May 22, 2024, at 14:30 China Standard Time. Location: 6F, No. 1166, Jiannan Avenue South Section, Shuangliu District, Chengdu, Sichuan China Reported Earnings • Apr 25
First quarter 2024 earnings released: EPS: CN¥0.03 (vs CN¥0.02 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.03 (up from CN¥0.02 loss in 1Q 2023). Revenue: CN¥107.4m (up 54% from 1Q 2023). Net income: CN¥13.9m (up CN¥23.3m from 1Q 2023). Profit margin: 13% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 20% per year. Announcement • Mar 29
HitGen Inc. to Report Q1, 2024 Results on Apr 25, 2024 HitGen Inc. announced that they will report Q1, 2024 results on Apr 25, 2024 Buy Or Sell Opportunity • Mar 21
Now 23% undervalued The stock has been flat over the last 90 days, currently trading at CN¥14.98. The fair value is estimated to be CN¥19.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Earnings per share has declined by 32%. Revenue is forecast to grow by 36% in 2 years. Earnings are forecast to grow by 37% in the next 2 years. Reported Earnings • Feb 25
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: CN¥0.11 (up from CN¥0.06 in FY 2022). Revenue: CN¥371.7m (up 13% from FY 2022). Net income: CN¥43.9m (up 74% from FY 2022). Profit margin: 12% (up from 7.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10.0%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has fallen by 32% per year whereas the company’s share price has fallen by 30% per year. Reported Earnings • Nov 01
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: CN¥90.1m (up 13% from 3Q 2022). Net income: CN¥12.5m (down 29% from 3Q 2022). Profit margin: 14% (down from 22% in 3Q 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. New Risk • Oct 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥387.9m to CN¥383.5m. EPS estimate also fell from CN¥0.16 per share to CN¥0.095 per share. Net income forecast to grow 37% next year vs 39% growth forecast for Life Sciences industry in China. Consensus price target down from CN¥23.00 to CN¥17.80. Share price rose 5.2% to CN¥14.93 over the past week. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: CN¥0.022 (vs CN¥0 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.022 (up from CN¥0 in 2Q 2022). Revenue: CN¥86.1m (up 30% from 2Q 2022). Net income: CN¥15.2m (up CN¥15.2m from 2Q 2022). Profit margin: 18% (up from 0% in 2Q 2022). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has fallen by 33% per year whereas the company’s share price has fallen by 28% per year. Announcement • Jun 28
HitGen Inc. to Report Q2, 2023 Results on Aug 23, 2023 HitGen Inc. announced that they will report Q2, 2023 results on Aug 23, 2023 Announcement • Jun 27
HitGen Inc. Launches A Newly Upgraded Version of OpenDEL™, A Self-Service Screening Kit, to Facilitate Innovative Drug Discovery Research HitGen Inc. has recently launched a newly upgraded version of its OpenDEL™? product, a self-service screening kit for novel molecules. It contains 65% more DEL libraries than the previous version, and with over 3 billion compounds. The 2-cycle and 3-cycle libraries in the kit are designed with excellent drug-like properties. The upgraded OpenDEL™? provides more diverse options with more flexible packages and service models to meet more differentiated user needs. OpenDEL™? is a self-service DNA-encoded library (DEL) kit, which enables users to explore DEL selection campaigns without revealing the target identity. Under the guidance of the manual and operating instructions, users can utilize OpenDEL™? to conduct affinity screening experiments against protein targets in their own laboratories. HitGen can provide upstream and downstream technical support. OpenDEL™? are a fully-open, transparent, small molecule screening kit, featuring complete disclosure of information for molecular structures, building blocks, scaffolds and compound encoding sequences. The users do not need to pay structure disclosure fees, nor compound IP license fees. OpenDEL™? can be widely applied in multiple areas, including drug discovery and AI-ML research. In the drug discovery scenarios, the complete information disclosure of OpenDEL™? can enable efficient and convenient discovery of novel hits and lead compounds. In the AI-ML scenarios, OpenDEL™? can provide a large number of high-quality screening data to facilitate the AI/ML predictive model building, algorithm development and validation, as well as other frontier explorations, thus promoting the AI-driven drug development. Since its release, OpenDEL™? has been widely used and highly recognized by many users from more than 10 countries, including biopharmaceutical companies, AI technology companies, academic institutions and colleges. Price Target Changed • May 11
Price target increased by 22% to CN¥23.00 Up from CN¥18.90, the current price target is provided by 1 analyst. New target price is 40% above last closing price of CN¥16.38. Stock is up 19% over the past year. The company is forecast to post earnings per share of CN¥0.11 for next year compared to CN¥0.06 last year. Reported Earnings • Apr 30
First quarter 2023 earnings released: CN¥0.02 loss per share (vs CN¥0.02 loss in 1Q 2022) First quarter 2023 results: CN¥0.02 loss per share (in line with 1Q 2022). Revenue: CN¥69.6m (down 4.0% from 1Q 2022). Net loss: CN¥9.39m (loss widened 33% from 1Q 2022). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Life Sciences industry in China. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 02
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥0.06 (down from CN¥0.16 in FY 2021). Revenue: CN¥329.7m (up 6.0% from FY 2021). Net income: CN¥26.0m (down 59% from FY 2021). Profit margin: 7.9% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Life Sciences industry in China. Major Estimate Revision • Dec 28
Consensus revenue estimates fall by 17% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from CN¥426.9m to CN¥354.4m. EPS estimate fell from CN¥0.19 to CN¥0.14 per share. Net income forecast to grow 92% next year vs 39% growth forecast for Life Sciences industry in China. Consensus price target down from CN¥18.90 to CN¥17.65. Share price fell 4.2% to CN¥13.50 over the past week. Price Target Changed • Nov 16
Price target increased to CN¥18.90 Up from CN¥16.00, the current price target is provided by 1 analyst. New target price is 9.7% above last closing price of CN¥17.23. Stock is down 28% over the past year. The company is forecast to post earnings per share of CN¥0.18 for next year compared to CN¥0.16 last year. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.052 (vs CN¥0.02 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.052 (up from CN¥0.02 in 3Q 2021). Revenue: CN¥79.4m (up 8.6% from 3Q 2021). Net income: CN¥17.5m (up 94% from 3Q 2021). Profit margin: 22% (up from 12% in 3Q 2021). Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Life Sciences industry in China. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0 (vs CN¥0.06 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0 (down from CN¥0.06 in 2Q 2021). Revenue: CN¥66.3m (down 22% from 2Q 2021). Net income: CN¥30.4k (down 100% from 2Q 2021). Profit margin: 0% (down from 18% in 2Q 2021). Over the next year, revenue is forecast to grow 65%, compared to a 39% growth forecast for the Life Sciences industry in China. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.02 loss per share (down from CN¥0.01 profit in 1Q 2021). Revenue: CN¥72.5m (up 4.8% from 1Q 2021). Net loss: CN¥7.09m (down 223% from profit in 1Q 2021). Revenue missed analyst estimates by 15%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 48%, compared to a 44% growth forecast for the industry in China. Price Target Changed • Apr 27
Price target decreased to CN¥28.50 Down from CN¥51.20, the current price target is an average from 2 analysts. New target price is 127% above last closing price of CN¥12.54. Stock is down 52% over the past year. The company is forecast to post earnings per share of CN¥0.21 for next year compared to CN¥0.16 last year. Reported Earnings • Feb 28
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: CN¥0.16 (down from CN¥0.17 in FY 2020). Revenue: CN¥315.7m (up 30% from FY 2020). Net income: CN¥65.4m (up 2.2% from FY 2020). Profit margin: 21% (down from 26% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 16%. Over the next year, revenue is forecast to grow 60%, compared to a 49% growth forecast for the pharmaceuticals industry in China. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.02 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥85.0m (up 99% from 2Q 2020). Net income: CN¥14.9m (up 122% from 2Q 2020). Profit margin: 18% (up from 16% in 2Q 2020). Reported Earnings • May 01
First quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.02 in 1Q 2020) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥69.2m (up 57% from 1Q 2020). Net income: CN¥5.78m (down 34% from 1Q 2020). Profit margin: 8.4% (down from 20% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Mar 04
Full year 2020 earnings released: EPS CN¥0.17 (vs CN¥0.33 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥243.6m (down 7.8% from FY 2019). Net income: CN¥64.4m (down 46% from FY 2019). Profit margin: 26% (down from 46% in FY 2019). The decrease in margin was primarily driven by higher expenses. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue behind estimates Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 60%, compared to a 32% growth forecast for the Life Sciences industry in China. Announcement • Mar 01
HitGen and UPPTHERA Entera Into Drug Discovery Research Collaboration HitGen announced that it has entered into a drug discovery research collaboration with UPPTHERA Inc. to identify small molecule Hits against previous known-to-be undruggable targets and novel E3 ligase. HitGen will apply its platform technology, based on the design, synthesis and screening of DNA-encoded libraries (DEL) to discover compounds that bind to certain targets. The identified compounds will be exclusively licensed to UPPTHERA for further development. Under the terms of the agreement, HitGen will receive an undisclosed upfront payment, success fee, license/milestone fee from UPPTHERA. Is New 90 Day High Low • Feb 10
New 90-day high: CN¥40.13 The company is up 20% from its price of CN¥33.53 on 12 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Life Sciences industry, which is up 47% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥9.71 per share. Is New 90 Day High Low • Dec 28
New 90-day low: CN¥29.19 The company is down 23% from its price of CN¥38.00 on 29 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is up 31% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥10.64 per share. Announcement • Dec 23
HitGen Announces License Agreement With Merck & Co., Inc., Kenilworth, NJ USA to Access Compounds for Potential Development of Novel Class of Drugs HitGen Inc. announced that the company and Merck & Co. Inc., Kenilworth, NJ USA, known as MSD outside the United States and Canada, expand their collaboration with a license to develop a novel class of drugs for an early target of high interest. The licensed compounds were identified using company’s leading technology platform, which involved screening DNA encoded libraries, containing over 500 billion encoded syntheses for small molecules with drug-like properties, assembled on a broad range of structurally diverse scaffolds. Several novel small molecule lead series with novel profiles for an undisclosed target nominated by Merck & Co. Inc. Kenilworth, NJ USA are the subject of this license. Under the terms of the collaboration agreement, the company will grant exclusive rights to Merck & Co. Inc. Kenilworth, NJ USA to develop and commercialize the licensed compounds. The company will be eligible for preclinical and clinical milestone payments as the project progresses, in addition to a license fee. Announcement • Dec 01
Cedilla Therapeutics, Inc. and HitGen Inc. Announces Research Collaboration Focused on Dna-Encoded Library Based Drug Discovery HitGen Inc. announced that it has entered into a research collaboration agreement with Cedilla Therapeutics, Inc. The companies will conduct joint research to identify and develop drug candidates directed to a validated, high-value target in oncology that has remained beyond the reach of previous efforts. The platform thus enables faster identification of innovative drug candidates with improved target specificity and enhanced drug-like characteristics. Pursuant to the terms of the collaboration agreement, HitGen has successfully applied its DEL technology and discovered program compounds that met certain criteria, and Cedilla has received an exclusive license to these compounds as well as associated IP for further development and commercialization. HitGen will be eligible for milestone payments and sublicensing income from Cedilla as the project progresses, in addition to research payments and upfront license fee. Announcement • Nov 11
HitGen Licenses its Trk/ROS1 Inhibitor HG030 to Baiyunshan for Development and Commercialisation in China followed by a series of milestones and royalty of sales as the product progresses through clinical trials and
product launches in the mainland China. HitGen retains all rights of the product in all territories outside the
mainland China. HG030 is a second-generation small molecule Trk inhibitor designed to treat patients with NTRK gene fusion-positive cancers, regardless of cancer type. Most patients with NTRK-rearranged advanced cancer are sensitive to tyrosine kinase inhibitor (TKI) therapy. These TKIs have dramatically improved outcomes for patients with advanced Trk-positive cancer, yet these cancers remain incurable. Resistance invariably develops, such as acquired mutations G595R and G667C. HG030 is a novel, highly potent, selective, second-generation Trk inhibitor with clear activities in preclinical models against most known resistance mutations in patients with advanced Trk-positive cancer. Therefore, HG030 might be an effective therapeutic strategy for patients with Trk-positive advanced cancer who were naive or had become resistant to currently available TKIs. Is New 90 Day High Low • Nov 03
New 90-day low: CN¥31.33 The company is down 37% from its price of CN¥50.00 on 05 August 2020. The Chinese market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is up 2.0% over the same period. Announcement • Oct 30
HitGen Inc. to Report Q3, 2020 Results on Oct 31, 2020 HitGen Inc. announced that they will report Q3, 2020 results on Oct 31, 2020 Is New 90 Day High Low • Oct 17
New 90-day low: CN¥36.33 The company is down 26% from its price of CN¥48.78 on 17 July 2020. The Chinese market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is up 5.0% over the same period. Announcement • Oct 14
HitGen Inc. (SHSE:688222) agreed to acquire Vernalis (R&D) Limited from Ligand Pharmaceuticals Incorporated (NasdaqGM:LGND) for $25 million. HitGen Inc. (SHSE:688222) agreed to acquire Vernalis (R&D) Limited from Ligand Pharmaceuticals Incorporated (NasdaqGM:LGND) for $25 million on October 11, 2020. Vernalis will continue to operate in Cambridge under the current management team, committed to maintaining and growing its impressive collection of collaborations with partners which currently include Asahi Kasei Pharma, Lundbeck, Servier, and PhoreMost. The closing of this transaction is subject to customary conditions and approvals, expected to complete before the end of 2020. Vernalis (R&D) Limited reported total assets of £10.6 million ($13.8 million) and net asset of £3.4 million ($4.4 million). The transaction is approved by the board of HitGen Inc. Deloitte & Touche Financial Advisory Services Limited and China CICC Wealth Management Securities Company Limited acted as a financial advisor, Cooley (UK) LLP and JunHe LLP acted as a legal advisor and Deloitte Touche Tohmatsu Certified Public Accountants LLP acted as accountant to HitGen. Is New 90 Day High Low • Sep 28
New 90-day low: CN¥37.61 The company is down 31% from its price of CN¥54.25 on 30 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Life Sciences industry, which is down 1.0% over the same period. Announcement • Jul 09
HitGen Inc. to Report First Half, 2020 Results on Aug 21, 2020 HitGen Inc. announced that they will report first half, 2020 results on Aug 21, 2020 
