---
title: "HCW Biologics (HCWB.US) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/HCWB.US/norm.md"
symbol: "HCWB.US"
name: "HCW Biologics"
parent: "https://longbridge.com/en/quote/HCWB.US.md"
datetime: "2026-05-20T14:40:17.759Z"
locales:
  - [en](https://longbridge.com/en/quote/HCWB.US/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/HCWB.US/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/HCWB.US/norm.md)
---

# HCW Biologics (HCWB.US) — Financial Reports

## Income Statement (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| EPS | 0.3657 | -1.02 | -2.02 | -6.79 | -1.97 |
| ROE | 186.13% | -4216.68% | 1687.44% | 1122.03% | 114.63% |
| Revenue | 6.54M | 27010.00 | 15606.00 | 6550.00 | 5065.00 |
| Net income | 1.98M | -3.47M | -4.55M | -12.08M | -2.20M |
| Operating income | 3.24M | -4.96M | -3.29M | -3.46M | -3.97M |
| Gross margin | 99.83% | 20.00% | 20.00% | 20.00% | 20.00% |
| Net margin | 53.07% | 2662.84% | -29183.24% | -29430.99% | -43373.64% |
| Profit quality | -205.41% | - | - | - | - |

## Balance Sheet (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| A&L | 27.34M | 24.52M | 25.45M | 28.91M | 26.29M |
| Leverage | 4.74 | 8.87 | -12.08 | -556.25 | -3.07 |
| BVPS | 0.8557 | 0.8430 | -0.8038 | -0.0242 | -7.62 |
| Turnover | 0.2458 | 0.0020 | 0.0162 | 0.0299 | 0.0510 |
| Cash & STI | 1.23M | 1.95M | 1.10M | 2.44M | 1.11M |
| Inv & Rec | - | - | - | - | - |
| LT assets | 20.77M | 20.88M | 22.50M | 22.64M | 22.76M |
| Net debt | 5.35M | 4.86M | 5.71M | 4.35M | 12.83M |

## Cash Flow Statement (USD)

| Indicator | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | -1.58M | -3.36M | -3.24M | -3.28M | -3.51M |
| Investing CF | - | - | - | - | - |
| Financing CF | 851641.00 | 4.21M | 1.90M | 4.61M | -53103.00 |
| Free CF | 1.13M | -8.57M | -2.29M | -2.03M | -3.95M |
| OCF coverage | -607.48% | -10215.60% | -10321.24% | -10613.75% | -10825.19% |
| Repaid & issued | - | 0.0000 | 0.0000 | 150000.00 | - |
| CapEx | - | - | - | - | - |