2185.HK
Price
Day trading desk
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
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Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Fundamentals
Valuation & profitability ratios
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $44.93M | $0 | $0 | $0 | — | — |
| Operating revenue | $44.93M | $0 | $0 | $0 | — | — |
| Cost of revenue | $26.92M | $0 | — | — | — | — |
| Gross profit | $18.02M | $0 | — | — | — | — |
| Research & development | $61.89M | $41.30M | $111.74M | $157.83M | — | +49.8% |
| Selling, general & admin | $27.82M | $19.74M | $52.88M | $13.27M | — | +40.9% |
| Total operating expense | $87.11M | $60.41M | $163.68M | $251.11M | — | +44.2% |
| Operating income | -$69.10M | -$60.41M | -$163.68M | -$251.11M | — | -14.4% |
| Net interest income | -$6.73M | $1.04M | $3.42M | $3.05M | — | -746.0% |
| Pre-tax income | -$96.00M | -$93.32M | -$188.82M | -$230.87M | — | -2.9% |
| Tax provision | -$27.57M | $0 | $0 | $0 | — | — |
| Net income | -$70.05M | -$87.94M | -$175.89M | -$204.24M | — | +20.3% |
| Net income to common | -$70.05M | -$87.94M | -$175.89M | -$204.24M | — | +20.3% |
| Basic EPS | — | -0.36 | -0.72 | -0.84 | -1.64 | — |
| Diluted EPS | — | -0.36 | -0.72 | -0.84 | -1.64 | — |
| EBIT | -$87.26M | -$93.26M | -$188.24M | -$229.91M | — | +6.4% |
| EBITDA | -$69.08M | -$85.09M | -$166.89M | -$209.05M | — | +18.8% |
| Basic shares | — | 243.42M | 243.42M | 243.75M | 220.59M | — |
| Diluted shares | — | 243.42M | 243.42M | 243.75M | 220.59M | — |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $92.28M | $202.39M | $369.44M | $451.32M | -54.4% |
| Cash & short-term investments | $248.52M | $202.39M | $369.44M | $451.32M | +22.8% |
| Accounts receivable | $17.84M | $0 | — | — | — |
| Inventory | $32.18M | $18.33M | $3.98M | $0 | +75.6% |
| Total current assets | $381.91M | $299.03M | $408.47M | $541.53M | +27.7% |
| Property, plant & equipment | $84.47M | $77.60M | $31.41M | $80.20M | +8.8% |
| Goodwill & intangibles | $270.66M | $282.22M | $282.34M | $282.17M | -4.1% |
| Total assets | $832.48M | $733.78M | $817.90M | $981.52M | +13.5% |
| Total current liabilities | $25.03M | $19.65M | $20.07M | $28.85M | +27.4% |
| Total debt | $12.73M | $8.28M | $1.76M | $18.11M | +53.7% |
| Total liabilities | $220.38M | $53.24M | $44.04M | $66.47M | +313.9% |
| Retained earnings | -$1.01B | -$937.28M | -$849.34M | -$673.44M | -7.5% |
| Shareholder equity | $434.81M | $660.47M | $748.41M | $883.21M | -34.2% |
| Working capital | $356.88M | $279.38M | $388.40M | $512.68M | +27.7% |
| Net tangible assets | $164.16M | $378.25M | $466.07M | $601.04M | -56.6% |
| Shares issued | 243.42M | 243.94M | 243.94M | 243.94M | -0.2% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$96.00M | -$93.32M | -$188.82M | -$230.87M | — | -2.9% |
| Depreciation & amortisation | $18.18M | $8.17M | $21.36M | $20.86M | — | +122.4% |
| Stock-based compensation | — | $0 | $47.63M | $140.48M | $318.72M | — |
| Change in working capital | -$16.83M | -$67.07M | $45.71M | -$48.52M | — | +74.9% |
| Operating cash flow | -$67.67M | -$118.44M | -$49.03M | -$140.62M | — | +42.9% |
| Capital expenditure | -$7.64M | -$47.14M | -$17.97M | -$30.04M | — | +83.8% |
| Investing cash flow | -$195.99M | -$47.14M | -$28.86M | -$100.69M | — | -315.8% |
| Financing cash flow | $153.81M | -$2.44M | -$5.82M | -$35.18M | — | +6,398.6% |
| Free cash flow | -$75.30M | -$165.58M | -$67.00M | -$170.65M | — | +54.5% |
| End cash position | $92.28M | $202.39M | $369.44M | $451.32M | — | -54.4% |
Newly listed companies often have nothing on file until their first annual report.
| Line item | 2025-12-31 | 2024-12-31 | YoY |
|---|---|---|---|
| Cash & equivalents | $92.28M | $202.39M | -54.4% |
| Cash & short-term investments | $248.52M | $202.39M | +22.8% |
| Accounts receivable | $17.84M | $0 | — |
| Inventory | $32.18M | $18.33M | +75.6% |
| Total current assets | $381.91M | $299.03M | +27.7% |
| Property, plant & equipment | $84.47M | $77.60M | +8.8% |
| Goodwill & intangibles | $270.66M | $282.22M | -4.1% |
| Total assets | $832.48M | $733.78M | +13.5% |
| Total current liabilities | $25.03M | $19.65M | +27.4% |
| Total debt | $12.73M | $8.28M | +53.7% |
| Total liabilities | $220.38M | $53.24M | +313.9% |
| Retained earnings | -$1.01B | -$937.28M | -7.5% |
| Shareholder equity | $434.81M | $660.47M | -34.2% |
| Working capital | $356.88M | $279.38M | +27.7% |
| Net tangible assets | $164.16M | $378.25M | -56.6% |
| Shares issued | 243.42M | 243.94M | -0.2% |
Newly listed companies often have nothing on file until their first annual report.
Analyst targets & ownership
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Headlines
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