HCM on Nasdaq
Hutchison China Meditech
Logo: Hutchison Chi-Med, CC BY-SA 4.0, via Wikimedia Commons3
Biopharmaceutical company.1
Price unavailable
Last updated Oct 18, 2026.
Overview
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- TickerHCM on Nasdaq1
- Industrybiomedicine1
- HeadquartersHong Kong1
- Websitewww.hutch-med.com
- Legal formpublic company1
- Listed onLondon Stock Exchange - AIM MTF (HCM), Nasdaq (HCM)1
- Incorporated inCayman Islands5
- Business address48Th Floor, Cheung Kong Center, 2 Queen'S Road Central, Hong Kong5
- Filer categoryLarge accelerated filer5
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-7.1%Operating margin4
83.3%Net margin4
-13.0%Revenue growth, 20254
36.9%Return on equity4
0.06×Debt to equity4
-$78.8MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Goods Distribution brought in 48% of the revenue Hutchison China Meditech broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Goods Distribution | $309.4M | $266.8M | $263.0M |
| Marketed Products | $83.1M | $128.0M | $100.6M |
| Other Collaboration Royalties Revenue | $32.5M | $71.0M | $68.4M |
| Commercialization Services | $48.6M | $52.5M | $45.3M |
| License And Collaborations Manufacturing supply | $4.7M | $10.4M | $31.2M |
| Collaboration Research And Development | $80.4M | $58.0M | $27.9M |
| Other Collaboration Licensing Revenue | $278.9M | $43.0M | $12.1M |
Business segments
Oncology Or Immunology brought in 52% of the revenue Hutchison China Meditech broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Oncology Or Immunology | $528.6M | $363.4M | $285.5M |
| Other Ventures | $309.4M | $266.8M | $263.0M |
Regions
[Canada] brought in 74% of the revenue Hutchison China Meditech broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| [Canada] | $484.9M | $452.4M | $407.5M |
| United States And Others | $353.1M | $177.8M | $141.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue33¢$336.3M
- Research and development15¢$148.3M
- Income tax6¢$63.6M
- Profit45¢$456.9M
Out of $548.5M in revenue.4
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $548.5M | $630.2M | $838.0M |
| Cost of goods and services | -$336.3M | -$348.9M | -$384.4M |
| Research and development expenses | -$148.3M | -$212.1M | -$302.0M |
| Selling expenses | -$36.3M | -$48.6M | -$53.4M |
| Administrative expenses | -$66.7M | -$64.3M | -$79.8M |
| Total operating expenses | -$587.7M | -$673.9M | -$819.6M |
| (Loss)/income from operations | -$39.2M | -$43.7M | $18.4M |
| Gain on divestment of an equity investee | $476.9M | ||
| Interest income | $49.9M | $40.1M | $36.1M |
| Other income | $19.7M | $10.3M | $12.9M |
| Interest expense | -$2.9M | -$2.9M | -$759.0K |
| Other expense | -$5.8M | -$4.9M | -$8.4M |
| Total other income/(expense) | $61.0M | $42.6M | $39.9M |
| Income/(loss) before income taxes and equity in earnings of equity investees | $498.7M | -$1.1M | $58.3M |
| Income tax expense | -$63.6M | -$7.2M | -$4.5M |
| Equity in earnings of equity investees, net of tax | $22.7M | $46.5M | $47.3M |
| Net income | $457.7M | $38.2M | $101.1M |
| Less: Net income attributable to non-controlling interests | -$823.0K | -$441.0K | -$314.0K |
| Net income attributable to the Company | $456.9M | $37.7M | $100.8M |
| Earnings per share attributable to the Company - basic (US$ per share) | $0.53 | $0.04 | $0.12 |
| Earnings per share attributable to the Company - diluted (US$ per share) | $0.52 | $0.04 | $0.12 |
| Number of shares used in per share calculation-basic (in shares) | 858.3M shares | 855.4M shares | 849.7M shares |
| Number of shares used in per share calculation-diluted (in shares) | 872.9M shares | 872.8M shares | 869.2M shares |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $71.3M | $154.0M | |
| Short-term investments | $1.3B | $682.2M | |
| Accounts receivable | $126.8M | $155.5M | |
| Other receivables, prepayments and deposits | $21.8M | $16.6M | |
| Amounts due from related parties | $10.4M | $7.9M | |
| Inventories | $41.1M | $50.4M | |
| Total current assets | $1.6B | $1.1B | |
| Property, plant and equipment | $94.6M | $92.5M | |
| Right-of-use assets | $3.0M | $4.5M | |
| Deferred tax assets | $12.7M | $12.4M | |
| Investment in equity investees | $10.9M | $77.8M | |
| Investment in equity security | $5.0M | ||
| Amounts due from related parties | $41.4M | ||
| Goodwill | $3.1M | $3.0M | |
| Other non-current assets | $20.1M | $12.4M | |
| Total assets | $1.8B | $1.3B | |
| Accounts payable | $45.5M | $42.5M | |
| Other payables and accruals | $208.9M | $256.1M | |
| Short-term bank borrowings | $25.0M | $23.4M | |
| Deferred revenue | $31.4M | $50.1M | |
| Income tax payable | $2.1M | $1.5M | $2.6M |
| Lease liabilities | $2.9M | $2.9M | |
| Total current liabilities | $315.8M | $376.6M | |
| Lease liabilities, non-current portion | $1.9M | $4.1M | |
| Deferred tax liabilities | $255.0K | $3.0M | |
| Long-term bank borrowings | $68.2M | $59.4M | |
| Deferred revenue, non-current portion | $20.1M | $48.4M | |
| Total liabilities | $501.8M | $502.3M | |
| Ordinary shares; $0.10 par value; 1,500,000,000 shares authorized; 872,327,620 and 871,601,095 shares issued at December 31, 2025 and 2024 respectively | $87.2M | $87.2M | |
| Additional paid-in capital | $1.5B | $1.5B | |
| Accumulated losses | -$378.6M | -$833.2M | |
| Accumulated other comprehensive loss | -$4.5M | -$11.6M | |
| Total Company's shareholders' equity | $1.2B | $759.9M | |
| Non-controlling interests | $13.3M | $11.9M | |
| Total shareholders' equity | $1.3B | $771.9M | $743.4M |
| Total liabilities and shareholders' equity | $1.8B | $1.3B | |
| Ordinary shares, par value (in US$ per share) | $0.10 | $0.10 | |
| Ordinary shares, authorized (in shares) | 1.5B shares | 1.5B shares | |
| Ordinary shares, issued (in shares) | 872.3M shares | 871.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net cash (used in)/generated from operating activities | -$64.7M | $497.0K | $219.3M |
| Purchases of property, plant and equipment | -$14.1M | -$17.9M | -$32.6M |
| Proceeds from disposal of property, plant and equipment | $28.0K | ||
| Refund of leasehold land deposit | $1.3M | ||
| Deposits in short-term investments | -$2.7B | -$1.8B | -$1.6B |
| Proceeds from short-term investments | $2.1B | $1.8B | $1.3B |
| Acquisition of an intangible asset | -$10.0M | ||
| Proceeds from divestment of subsidiaries | $5.1M | ||
| Cash disposed from divestment of subsidiaries | -$8.1M | ||
| Net cash used in investing activities | -$29.4M | -$96.1M | -$291.1M |
| Proceeds from issuances of ordinary shares | $1.6M | $790.0K | $5.1M |
| Purchases of treasury shares | -$36.1M | -$9.1M | |
| Dividends paid to non-controlling shareholders of subsidiaries | -$1.0M | -$9.1M | |
| Proceeds from bank borrowings | $30.9M | $36.2M | $61.7M |
| Repayment of bank borrowings | -$24.6M | -$30.6M | |
| Net cash generated from/(used in) financing activities | $7.8M | -$30.7M | $48.7M |
| Net decrease in cash and cash equivalents | -$86.2M | -$126.2M | -$23.2M |
| Effect of exchange rate changes on cash and cash equivalents | $3.6M | -$3.4M | -$6.5M |
| Net decrease in cash and cash equivalents, including effect of exchange rate changes | -$82.6M | -$129.6M | -$29.7M |
| Cash paid for interest | $2.5M | $2.5M | $421.0K |
| Cash paid for tax, net of refunds | $62.4M | $3.6M | $3.7M |
| (Decrease)/increase in accrued capital expenditures | -$4.2M | -$7.5M | $5.7M |
| Vesting of treasury shares for LTIP | $15.4M | $42.1M | $18.1M |
Subsidiaries and ownership
Parent company
Owners
From Wikidata.1
Former names
- Hutchison China MediTech LtdAug 21, 2015 to Apr 29, 20215
Timeline
- 2000Founded Founded1
Recent filings
- Sep 29, 20266-K
- Sep 29, 20266-K
- Sep 24, 20266-K
- Sep 3, 20266-K
- Aug 31, 20266-K
- Aug 28, 20266-K
- Aug 18, 20266-K
- Aug 17, 20266-K
- Jul 30, 20266-K
- Jul 2, 20266-K
- Jun 30, 20266-K
- Jun 29, 20266-K
- Jun 25, 20266-K
- Jun 12, 20266-K
- Jun 9, 2026S-8
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.hutch-med.com1
- WikidataQ10921659
- SEC EDGARCIK 1648257
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 3Wikimedia CommonsHutchison China Meditech logo by Hutchison Chi-Med, CC BY-SA 4.0
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