TH MEDICAL-B

2697.HK opened higher and climbed steadily in the morning session, reaching an intraday high of HKD 600, up 4.3% from the previous close of HKD 575, and closing at HKD 608, a gain of 5.7%. The rally was primarily driven by sector momentum from favorable healthcare policies and technological breakthrough news, extending the recent rebound. Earnings showed Q4 2025 revenue surged 642.09% YoY to HKD 6.67 million, while net loss narrowed 10.06% YoY, but net profit margin remained deeply negative at -278.04%, with a PE of -217.24 and PB of 81.71, indicating persistent profitability challenges. At HKD 608, the stock is 20% below its 52-week high of HKD 760 but has rebounded 90% from the 52-week low of HKD 320, with YTD gains of 52%, and it now trades above the 20-day and 60-day moving averages (both at HKD 487.53). However, a lack of new catalysts and prior single-day plunges of over 20% raise caution on funding pressures.

2697.HK opened sharply higher in the morning session, rising from yesterday's close of 520 to 548, a gain of 5.38%, driven by sustained capital inflows and renewed interest in the medical robotics theme. The stock hit an intraday high of 548 and a low of 516.5, with a 6% range, closing at the day's high. It remains 27.89% below its 52-week high of 760, with a YTD gain of 37%, and the current price of 548 sits above both MA20 (478.85) and MA60 (478.85), indicating a relatively strong position. However, Q4 2025 net loss narrowed only 10.06% YoY, with a net profit margin of -278%, and a PE of -195.8, reflecting weak fundamentals that may cap further upside.

Zhen Health Medical opened sharply higher at HK$496.2 (the intraday high) in the morning session, then reversed to close down 5.23% at HK$456.8, well below the previous close of HK$482. The stock had rallied sharply recently on favorable policies for puncture robots, but today's decline was driven by profit-taking amid a lack of fresh catalysts. For Q4 2025, operating revenue surged 642% YoY to HK$6.67M, but net loss remained at HK$18.56M, with EPS of -HK$0.58, indicating ongoing unprofitability. The current price is 39.89% below its 52-week high of HK$760 and slightly below the MA20/MA60 (both ~HK$470.6), while YTD gain stands at 14.2%. Intraday news of a 5% rebound suggests lingering buying interest.

TH MEDICAL-B opened low and rebounded in the morning session, closing at HKD 480, up 6.38% from the open of HKD 451.4, with an intraday range of about 6.1%. The stock has been in a correction since its 52-week high of HKD 760 on July 15, currently down 36.84% from that peak, while YTD gain has narrowed to 20%. The bounce today appeared technical after recent steep declines, but trading volume was thin at 180 lots, reflecting cautious sentiment amid a lack of catalysts. For Q4 2025, operating revenue surged 642.09% YoY to HKD 6.67 million, yet net loss widened 10.06% to HKD 18.56 million, with a net profit margin of -278.04%, indicating limited fundamental improvement. The stock is now trading above its 20-day MA of HKD 471.367, though still 36.84% below the 52-week high.

The stock exhibited a single-session decline, falling from an opening price of HKD 660 to close at HKD 441.8, a drop of 33.1%, with an intraday high of HKD 662.5 and low of HKD 431.4, representing a 34.9% range. The slide was attributed to market concerns over the concentrated shareholding of chairman Zhang Haoren. Q4 2025 revenue surged 642.09% YoY to HKD 6.67 million, yet net loss remained at HKD 18.56 million with a net margin of -278.04%; the loss narrowed by only 10.06% YoY. The current price of HKD 465 is 38.82% below the 52-week high of HKD 760 but still 45.31% above the 52-week low of HKD 320, and trades below its 20-day moving average of HKD 471.736. Despite the decline, the stock is up 16.25% YTD.