2252.HK

MedTech

Shanghai MicroPort MedBot Group

Surgical robotics — laparoscopic, orthopaedic, endoscopic (Toumai)

20.86

▲ 0.22 (+1.07%)

Needs attentionNew Positive profit alert filed 2026-07-22Price 83% above estimated priceEBIT covers interest only -10.5× — operating profit does not cover the interest bill.Trailing-margin DCF likely understates value — the company is scaling into first profitability (trailing EBITDA is negative), so a forecast anchored to last year's margin is conservative. Review with Level-3 assumptions.Terminal value is 97% of enterprise value — most of this DCF rests on far-future assumptions. Weight the peer cross-check accordingly.

Price · volume · estimated price

Chart

20.86

Jul 29, 2026 · Vol 3.4M

Thesis

At a glance

Chinese surgical-robotics developer listed on HKEX under Chapter 18A. Toumai laparoscopic system is its commercial lead; watch installation counts and the transition from pre-revenue biotech listing to real commercial revenue.

Market signals · technical

Price & volume signals

Technical signals from price history, for your own read of market timing. These never affect the Estimated Price — they sit apart from the valuation by design.

Trend

n/a

price vs SMAs

RSI (14)

n/a

Volume trend

n/a

10 vs prior 10

SMA 20

n/a

SMA 50

n/a

SMA 200

n/a

· Only 6 bars — the 50/200-day averages need more history.

Estimated Price3-level modelrecomputed live

3.57-82.86% vs 20.86

Bear1.82

Base3.57

Bull3.57

Reported in CNY, shown in HKD · CNY→HKD 1.1560 as of 2026-07-23

Trailing-margin DCF likely understates value — the company is scaling into first profitability (trailing EBITDA is negative), so a forecast anchored to last year's margin is conservative. Review with Level-3 assumptions.

Terminal value is 97% of enterprise value — most of this DCF rests on far-future assumptions. Weight the peer cross-check accordingly.

L1DCF core

WACC 8.85% · β 0.95

3.57

L2Peer check · no adjustment

peer cross-check N/A — no same-market peer set

3.57

L3Manual override

none — using the rule

—

WACC build-up

Cost of equity (CAPM)8.95%

After-tax cost of debt4.02%

Equity / debt weight97.95% / 2.05%

WACC8.85%

Level 2 · cross-check

Not applicable — no same-market peer set for this listing. The DCF is not cross-checked against unrelated-market multiples.

No reliability rule firing — Level 1 passes through.

Leverage & debt serviceability

Total debt$389.1M

Net debt−$247.3M

Debt / revenue70.60%

Interest expense$19.8M

EBIT covers interest only -10.5× — operating profit does not cover the interest bill.

Serviceability lens (EBIT ÷ interest) — separate from the WACC and the leverage haircut; never moves the Estimated Price.

Valuation methods · side by side

DCF (intrinsic)low

3.57

1.82 – 3.57

Terminal value is 97% of enterprise value.

Peer P/Sn/a

n/a

no same-market peer set — not compared to another market's multiples

Shown side by side, never averaged. Headline uses the DCF, with the peer multiple as fallback when the DCF is invalid.

Trailing twelve months · from XBRL

Fundamentals

as of Dec 31, 2025

Revenue

$551.1M

Gross margin

48.38%

EBITDA

−$126.3M

EBITDA margin

-22.92%

Net income

−$254.1M

EPS

-0.24

Cash

$636.3M

Total debt

$389.1M

Net debt

−$247.3M

Net leverage

—

Book value

$399.9M

Backlog

—

Position

No open position. Record a trade on the Portfolio tab and it flows into this card.

Company status agent

Status

No status generated yet. The status agent writes here when new data lands.

EDGAR · diffed daily

Filings & extraction

Positive profit alertJul 22, 2026unprocessed
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Facts ingested; qualitative extraction pending.
Monthly Return of Equity Issuers on Movements in Se…Jul 03, 2026unprocessed
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Facts ingested; qualitative extraction pending.
Voluntary announcement - toumai commercial installa…Jun 26, 2026unprocessed
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Facts ingested; qualitative extraction pending.
Voluntary announcement - full-department applicatio…Jun 22, 2026unprocessed
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Facts ingested; qualitative extraction pending.
Voluntary announcement - toumai has received over 3…Jun 17, 2026unprocessed
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Facts ingested; qualitative extraction pending.

View all filings (+95) ▾

Poll results of the 2025 annual general meetingJun 05, 2026unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Jun 03, 2026unprocessed
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Proposed adoption of share schemeMay 14, 2026unprocessed
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Proxy form for the annual general meeting to be con…May 14, 2026unprocessed
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Notice of annual general meeting to be convened and…May 14, 2026unprocessed
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2025 annual report; 2025 report of the supervisory…May 14, 2026unprocessed
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Monthly Return of Equity Issuers on Movements in Se…May 06, 2026unprocessed
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2025 Annual ReportApr 30, 2026unprocessed
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Next Day Disclosure ReturnApr 24, 2026unprocessed
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Inside information announcement completion of the h…Apr 23, 2026unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Apr 08, 2026unprocessed
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Annual results announcement for the year ended 31 d…Mar 26, 2026unprocessed
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Date of board meetingMar 16, 2026unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Mar 04, 2026unprocessed
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Inside information announcement listing approval gr…Feb 13, 2026unprocessed
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Voluntary announcement - toumai laparoscopic surgic…Feb 12, 2026unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Feb 05, 2026unprocessed
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Inside information announcement - notification lett…Feb 04, 2026unprocessed
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Voluntary announcementJan 21, 2026unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Jan 06, 2026unprocessed
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Voluntary announcement - toumai commercial installa…Dec 24, 2025unprocessed
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Voluntary announcement - approval for unipath elect…Dec 24, 2025unprocessed
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Terms of reference of the strategy and development…Nov 25, 2025unprocessed
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(1) poll results of the 2025 extraordinary general…Nov 25, 2025unprocessed
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List of directors and their roles and functionsNov 25, 2025unprocessed
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Articles of associationNov 25, 2025unprocessed
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Terms of reference of the audit committee of the bo…Nov 25, 2025unprocessed
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Notice of the extraordinary general meeting to be c…Nov 06, 2025unprocessed
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Changes in directors and proposed amendments to the…Nov 05, 2025unprocessed
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Voluntary announcement - toumai orders exceeding 10…Oct 08, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Oct 08, 2025unprocessed
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Interim report 2025Sep 25, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Sep 04, 2025unprocessed
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Interim results announcement for the six months end…Aug 28, 2025unprocessed
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Date of board meetingAug 18, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Aug 06, 2025unprocessed
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Voluntary announcementJul 17, 2025unprocessed
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Monthly Return of Equity Issuer on Movements in Sec…Jul 04, 2025unprocessed
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List of directors and their roles and functionsJun 25, 2025unprocessed
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Change in use of proceeds from the placingJun 25, 2025unprocessed
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Poll results of the 2024 annual general meeting; ap…Jun 25, 2025unprocessed
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Voluntary announcement and announcement pursuant to…Jun 12, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Jun 04, 2025unprocessed
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Proxy form for the annual general meeting to be con…May 26, 2025unprocessed
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Notice of annual general meeting to be convened and…May 26, 2025unprocessed
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2024 annual report; 2024 report of the supervisory…May 26, 2025unprocessed
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Completion of placing of new h shares under general…May 21, 2025unprocessed
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Next Day Disclosure ReturnMay 21, 2025unprocessed
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(1) placing of new h shares under general mandate a…May 14, 2025unprocessed
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(1) proposed placing of new h shares under general…May 13, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…May 06, 2025unprocessed
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List of directors and their roles and functionsApr 30, 2025unprocessed
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Resignation of non-executive director and change in…Apr 30, 2025unprocessed
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2024 Annual ReportApr 30, 2025unprocessed
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Voluntary announcement - approval for full-departme…Apr 23, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Apr 03, 2025unprocessed
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(1) proposed amendment to the articles of associati…Mar 27, 2025unprocessed
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Annual results announcement for the year ended 31 d…Mar 27, 2025unprocessed
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Date of board meetingMar 17, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Mar 05, 2025unprocessed
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Voluntary announcementMar 03, 2025unprocessed
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Voluntary announcement - approval for toumai single…Feb 12, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Feb 05, 2025unprocessed
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Voluntary announcement - business updateJan 24, 2025unprocessed
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Renewal of continuing connected transactions framew…Jan 17, 2025unprocessed
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Change of address of principal place of business in…Jan 10, 2025unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Jan 07, 2025unprocessed
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Completion of placing of new h shares under general…Dec 10, 2024unprocessed
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Next Day Disclosure ReturnDec 10, 2024unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Dec 05, 2024unprocessed
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Placing of new h shares under general mandateDec 03, 2024unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Nov 06, 2024unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Oct 04, 2024unprocessed
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Interim report 2024Sep 26, 2024unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Sep 04, 2024unprocessed
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Interim results announcement for the six months end…Aug 28, 2024unprocessed
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Date of board meetingAug 16, 2024unprocessed
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Change of company secretary and authorised represen…Aug 14, 2024unprocessed
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(Revised) Monthly Return of Equity Issuers on Movem…Aug 07, 2024unprocessed
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Monthly Return of Equity Issuers on Movements in Se…Aug 06, 2024unprocessed
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Notification letter to non-registered shareholder -…Jul 22, 2024unprocessed
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Notification letter to registered shareholder - arr…Jul 22, 2024unprocessed
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Articles of associationJul 18, 2024unprocessed
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List of directors and their roles and functionsJul 18, 2024unprocessed
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(1) poll results of the 2024 extraordinary general…Jul 18, 2024unprocessed
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Completion of placing of new h shares under general…Jul 05, 2024unprocessed
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Next Day Disclosure ReturnsJul 05, 2024unprocessed
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Monthly Return of Equity Issuer on Movements in Sec…Jul 05, 2024unprocessed
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Voluntary announcementJul 04, 2024unprocessed
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Review queue · nothing auto-saves

News & signals

38 queued

neutralmedium magnitudemedium-termhkexnewstoday
VOLUNTARY ANNOUNCEMENT
HKEXnews: Announcements and Notices - [Other - Trading Update]. Awaiting human review.
Source ↗
neutralmedium magnitudemedium-termhkexnewstoday
COMPLETION OF PLACING OF NEW H SHARES UNDER GENERAL MANDATE
HKEXnews: Announcements and Notices - [Placing / Issue of Shares under a General Mandate]. Awaiting human review.
Source ↗
neutralmedium magnitudemedium-termhkexnewstoday
NOTIFICATION LETTER TO REGISTERED SHAREHOLDER - ARRANGEMENT OF ELECTRONIC DISSEMINATION OF CORPORATE COMMUNICATIONS AND REPLY FORM
HKEXnews: Circulars - [Other]. Awaiting human review.
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neutralmedium magnitudemedium-termhkexnewstoday
NOTIFICATION LETTER TO NON-REGISTERED SHAREHOLDER - ARRANGEMENT OF ELECTRONIC DISSEMINATION OF CORPORATE COMMUNICATIONS AND REPLY FORM
HKEXnews: Circulars - [Other]. Awaiting human review.
Source ↗
neutralmedium magnitudemedium-termhkexnewstoday
DATE OF BOARD MEETING
HKEXnews: Announcements and Notices - [Date of Board Meeting]. Awaiting human review.
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Illustrative data where noted. Not investment advice.