Zai Lab Ratios and Metrics

Market cap in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 12, 2026	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Market Capitalization	16,443	22,161	20,997	22,974	47,249	92,367
Market Cap Growth	-27.38%	5.54%	-8.60%	-51.38%	-48.85%	330.71%
Enterprise Value	12,552	18,352	14,719	14,407	35,150	88,919
Last Close Price	14.52	20.90	21.50	24.60	50.60	103.40
PS Ratio	4.79	7.15	10.08	13.70	41.99	243.34
PB Ratio	2.78	3.39	3.38	2.82	4.39	10.19
P/TBV Ratio	3.01	3.65	3.45	2.84	4.42	10.27
EV/Sales Ratio	3.64	5.92	7.06	8.59	31.24	234.25
Debt / Equity Ratio	0.29	0.18	0.02	0.02	0.01	0.02
Net Debt / Equity Ratio	-0.65	-0.74	-0.99	-0.94	-1.01	-1.00
Net Debt / EBITDA Ratio	2.33	2.32	2.15	2.49	2.01	3.93
Net Debt / FCF Ratio	2.61	2.84	3.85	2.52	2.46	5.17
Asset Turnover	0.41	0.36	0.24	0.15	0.10	0.06
Inventory Turnover	7.52	9.03	9.46	14.25	38.98	25.01
Quick Ratio	2.29	2.90	4.29	7.56	7.59	12.16
Current Ratio	2.87	3.51	4.63	8.04	7.78	12.40
Return on Equity (ROE)	-28.97%	-31.41%	-36.34%	-36.55%	-55.27%	-36.74%
Return on Assets (ROA)	-13.29%	-15.87%	-20.86%	-17.86%	-30.10%	-22.82%
Return on Capital Employed (ROCE)	-28.50%	-31.80%	-45.20%	-37.40%	-49.40%	-25.20%
Earnings Yield	-9.79%	-9.01%	-12.45%	-15.04%	-11.63%	-2.26%
FCF Yield	-9.02%	-7.73%	-7.64%	-13.31%	-9.37%	-1.90%
Buyback Yield / Dilution	-10.28%	-2.39%	-0.87%	-3.03%	-19.73%	-20.66%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.