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Hutchison China Meditech

Logo: Hutchison Chi-Med, CC BY-SA 4.0, via Wikimedia Commons3

Hutchison China Meditech is a biopharmaceutical company founded in 2000.1 It is headquartered in Hong Kong.1 It is part of Hutchison Whampoa.1 Its shares trade on Nasdaq under the symbol HCM.1

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Last updated Oct 21, 2026.

Overview

$548.5MRevenue, fiscal 20254
$456.9MNet income, fiscal 20254
2000Founded1

Compare with Organogenesis Holdings Inc., TARO Pharmaceuticals or Mirum Pharmaceuticals, or pick any stock.

  • 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

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HUTCHMED (China) Limited (formerly known as Hutchison China MediTech Limited) was incorporated in the Cayman Islands on December 18, 2000 as an exempted company with limited liability under the Companies Act (As Revised) of the Cayman Islands. Our company was founded by a wholly owned subsidiary of CK Hutchison, a multinational conglomerate with operations in over 50 countries. CK Hutchison is the ultimate parent company of our largest shareholder Hutchison Healthcare Holdings Limited.6 From its latest annual report

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.

  1. Goods Distribution$263.0M448%down 1% from 2024
  2. Marketed Products$100.6M418%down 21% from 2024
  3. Other Collaboration Royalties Revenue$68.4M412%down 4% from 2024
  4. Commercialization Services$45.3M48%down 14% from 2024
  5. License And Collaborations Manufacturing supply$31.2M46%up 200% from 2024
  6. Collaboration Research And Development$27.9M45%down 52% from 2024
  7. Other Collaboration Licensing Revenue$12.1M42%down 72% from 2024
Products and services by year
Products and services202320242025
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.

  1. Oncology Or Immunology$285.5M452%down 21% from 2024
  2. Other Ventures$263.0M448%down 1% from 2024
Business segments by year
Business segments202320242025
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.

  1. [Canada]$407.5M474%down 10% from 2024
  2. United States And Others$141.1M426%down 21% from 2024
Regions by year
Regions202320242025
[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

Revenue78910114$548.5M in 2025+156% since 2018
0$250.0M$500.0M$750.0M$1.0B2018: $214.1M$214.1M20182019: $204.9M$204.9M2019−4%2020: $228.0M$228.0M2020+11%2021: $356.1M$356.1M2021+56%2022: $426.4M$426.4M2022+20%2023: $838.0M$838.0M2023+97%2024: $630.2M$630.2M2024−25%2025: $548.5M$548.5M2025−13%
Operating income78910114-$39.2M in 2025−58% since 2018
-$600.0M-$400.0M-$200.0M0$200.0M2018: -$92.6M-$92.6M20182019: -$146.4M-$146.4M2019+58%2020: -$196.7M-$196.7M2020+34%2021: -$328.3M-$328.3M2021+67%2022: -$407.7M-$407.7M2022+24%2023: $18.4M$18.4M20232024: -$43.7M-$43.7M20242025: -$39.2M-$39.2M2025−10%
Net income78910114$456.9M in 2025
-$500.0M-$250.0M0$250.0M$500.0M2018: -$74.8M-$74.8M20182019: -$106.0M-$106.0M2019+42%2020: -$125.7M-$125.7M2020+19%2021: -$194.6M-$194.6M2021+55%2022: -$360.8M-$360.8M2022+85%2023: $100.8M$100.8M20232024: $37.7M$37.7M2024−63%2025: $456.9M$456.9M2025+1111%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
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 shares855.4M shares849.7M shares
Number of shares used in per share calculation-diluted (in shares)872.9M shares872.8M shares869.2M shares

Compare Hutchison China Meditech with another company

Corporate structure

Hutchison China Meditech is part of a group headed by Cheung Kong Holdings. 41 entities, 16 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Hutchison China Meditech

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Hutchison China Meditech reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$168.1M4 Dec 31, 2025$151.8M4 Dec 31, 2024+10.7%
Property and equipment, net$94.6M4 Dec 31, 2025$92.5M4 Dec 31, 2024+2.3%
Operating-lease assets (leased space)$3.0M4 Dec 31, 2025$4.5M4 Dec 31, 2024−32.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$71.3M4 Dec 31, 2025$154.0M4 Dec 31, 2024−53.7%
Marketable securities, current$1.3B4 Dec 31, 2025$682.2M4 Dec 31, 2024+90.0%
Stakes in other companies (equity method)$10.9M4 Dec 31, 2025$77.8M4 Dec 31, 2024−86.0%
Deposits held (banks)$1.7M4 Dec 31, 2025$1.6M4 Dec 31, 2024+3.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$3.1M4 Dec 31, 2025$3.0M4 Dec 31, 2024+4.1%
Intangible assets, net (excluding goodwill)$8.9M4 Dec 31, 2025$21.0K11 Dec 31, 2023+42476.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$41.1M4 Dec 31, 2025$50.4M4 Dec 31, 2024−18.4%
Raw materials$22.5M4 Dec 31, 2025$24.3M4 Dec 31, 2024−7.8%
Finished goods$18.7M4 Dec 31, 2025$26.1M4 Dec 31, 2024−28.3%

Leadership

Who has led Hutchison China Meditech, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Wei-Guo Su2026–now

Chief financial officer

  1. Lorenso Chiu2026–now
20052010201520202025
Board members and other officers (8)

Subsidiaries and ownership

Parent company

Owners

From Wikidata.1

Former names

  • Hutchison China MediTech LtdAug 21, 2015 to Apr 29, 20215

Timeline

  1. Mar 16, 2026New chief executive Wei-Guo Su becomes CEO13
  2. 2000Founded Founded1

Filings

265 filings to the SEC since October 2021: 5 annual reports, 17 insider forms, 2 large holders, 241 other. The latest 20:

  1. Sep 29, 20266-K EDGAR
  2. Sep 29, 20266-K EDGAR
  3. Sep 24, 20266-K EDGAR
  4. Sep 3, 20266-K EDGAR
  5. Aug 31, 20266-K EDGAR
  6. Aug 28, 20266-K EDGAR
  7. Aug 18, 20266-K EDGAR
  8. Aug 17, 20266-K EDGAR
  9. Jul 30, 20266-K EDGAR
  10. Jul 2, 20266-K EDGAR
  11. Jun 30, 20266-K EDGAR
  12. Jun 29, 20266-K EDGAR
  13. Jun 25, 20266-K EDGAR
  14. Jun 12, 20266-K EDGAR
  15. Jun 9, 2026S-8 EDGAR
  16. Jun 5, 20266-K EDGAR
  17. May 22, 20266-K EDGAR
  18. May 21, 20266-K EDGAR
  19. May 21, 20264 OWNERSHIP DOCUMENT EDGAR
  20. May 21, 20264 OWNERSHIP DOCUMENT EDGAR

The 265 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Hutchison China Meditech has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 56. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Schroder Investment Management Group1,477,494$15.8M0.0%No change
Allianz Asset Management GmbH837,475$12.5M0.0%No change
State Street Corp313,611$3.4M0.0%+8,782
AIA Group Ltd291,229$3.1M0.0%No change
M&g PLC242,791$2.7M0.0%−12,677
Amundi204,385$2.2M0.0%−27,861
Jane Street Group, LLC194,472$2.1M0.0%+117,958
Renaissance Technologies LLC130,200$1.4M0.0%−1,862
Bnp Paribas Financial Markets104,425$1.1M0.0%−2,079
XY Capital Ltd104,130$1.1M1.3%+55,736
Crossmark Global Holdings, Inc.84,915$913.7K0.0%−48
Two Sigma Investments, LP63,248$680.5K0.0%New
UBS Group AG44,183$475.4K0.0%−575
Vanguard Personalized Indexing Management, LLC42,599$458.4K0.0%+22,174
Dimensional Fund Advisors LP38,967$419.3K0.0%−17,002
Citadel Advisors LLC38,061$409.5K0.0%+7,547
Vident Advisory, LLC26,584$286.0K0.0%+8,858
Millennium Management LLC26,420$284.3K0.0%−1,594
StoneX Group Inc.18,262$213.6K0.0%New
Geode Capital Management, LLC18,169$195.5K0.0%−3,664
Ameriprise Financial Inc15,742$169.4K0.0%+780
Summit Trail Advisors, LLC13,090$140.8K0.0%No change
Bank Of America Corp /de/12,489$134.4K0.0%No change
XTX Topco Ltd12,409$133.5K0.0%+1,031
Mariner, LLC10,656$114.7K0.0%−269

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Hutchison China Meditech is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHUTCHMED (China) Ltd2
  • CIK0001648257
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company6
  • Incorporated inCayman Islands6
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address48Th Floor, Cheung Kong Center, 2 Queen'S Road Central, Hong Kong, Hong Kong2
  • Phone852-2121-38882
  • Shares outstanding872,327,620 shares as of Dec 31, 20256
  • AuditorPricewaterhouseCoopers Zhong Tian LLP, Shenzhen, the People’s Republic of China PCAOB ID 1424; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceAug 21, 20152
  • Filings605 in all: 6-K (491), UPLOAD (13), 3 (12), CORRESP (11), 20-F (10), SC 13D/A (9), 424B5 (6), 4 (5)2
    All 31 form types

    424B7 (4), F-1/A (4), S-8 (4), SC 13G/A (4), 20-F/A (3), CT ORDER (3), F-3ASR (3), SC 13D (3), SC 13G (3), DRSLTR (2), EFFECT (2), FWP (2), 424B3 (1), 424B4 (1), 6-K/A (1), 8-A12B (1), CERTNAS (1), DRS (1), DRS/A (1), F-1 (1), F-1MEF (1), F-6 (1), F-6 POS (1)

  • Latest filingsAnnual report (20-F) Mar 5, 2026

Securities registered for trading

ClassSymbolExchange
American depositary shares, each representing five ordinary shares, par value $0.10 per shareHCMNasdaq Global Select Market
Ordinary shares, par value $0.10 per share

From the cover page of the 20-F filed Mar 5, 2026 (Section 12(b) of the Exchange Act).6

Sources

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