ASCENTAGE PHARMA GROUP INTERNATIONAL
AAPG · Pharmaceutical Preparations · EDGAR filings ↗
Grade
C54Commercial-stage oncology biopharma with rapid revenue ramp and long runway but deep losses and high leverage.
Strengths
- Revenue up 330% (89th pct) with two commercialized drugs and 97% gross margin (94th pct)
- Cash runway 26 quarters (93rd pct) and an Innovent partnership with milestone potential
Risks
- Deep net loss (net margin -41%, ROE -1.48) and very high debt/equity 6.1 (98.6th pct)
- FY2024 data is stale (>18 months old) and global regulatory approval outside China remains uncertain
Notable findings
- High leverageHigh leverage (debt/equity 6.09)
- Net lossNet loss (net margin -41.4%)
- Cash burnNegative free cash flow (-18.6M)
- Fund exitedNotable fund(s) exited this quarter: CITADEL ADVISORS LLC
- Strong balance sheetStrong balance sheet — $122M cash & investments, ~26 quarters of runway
Key metrics
Gross margin
97.0%
Net margin
-41.4%
Return on equity
-148.0%
Revenue growth (QoQ)
329.9%
Debt / equity
6.1×
Current ratio
1.3×
Free cash flow
-$19M
Tangible book value
$34M
Cash & investments
$122M
Cash runway
26q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-21 | Zhai Yifan | Option exercise | 93K | — |
| 2026-05-21 | Zhai Yifan | Option exercise | 96K | — |
| 2026-05-21 | Yang Dajun | Option exercise | 96K | — |
| 2026-05-21 | Yang Dajun | Option exercise | 93K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-29 | 2025-12-31 | 0001213900-26-049412 ↗ |
| 20-F | 2025-04-16 | 2024-12-31 | 0001213900-25-032599 ↗ |