olivLaw · US equity research
Charming Medical Limited MCTA
Services-Misc Health & Allied Services, NEC · SIC 8090 · Vertical: Services-Misc Health & Allied Services, NEC (SIC 8090)
Charming Medical Limited is a Hong Kong-based provider of wellness and beauty services inspired by traditional Chinese medicine, focused on women's health and operating under the 'Beauty Lab' brand. The company listed on Nasdaq in October 2025, and in fiscal 2026 its total revenues fell 22.7% to 4.8 million USD, as customer numbers and average spending declined.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, Charming Medical Limited (MCTA) stock was 29.36 USD (+0.00% on the day), with 52-week range 20.66–29.36 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 78.5
- overbought (≥ 70)
- Bollinger (20, 2)
- 23.65 – 33.28
- in the upper half of the band · %B 0.59 · band width 33.8%
- SMA 50 / 200
- unavailable / unavailable
- MACD (12, 26, 9)
- unavailable / unavailable
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | unavailable | −1.1% | unavailable | — |
| 3 months | unavailable | −0.5% | unavailable | — |
| 6 months | unavailable | +4.4% | unavailable | — |
| Year to date | unavailable | +12.3% | unavailable | — |
| 1 year | +30.5% | +13.5% | +17.0 pp | +16.0% |
| 3 years | unavailable | +76.4% | unavailable | −8.8% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 6.0 m | 6.2 m | 4.8 m |
| Revenue YoY | unavailable | +3.4% | −22.7% |
| Net income | 777.8 k | 1.2 m | -22.6 k |
| Net income YoY | unavailable | +54.2% | −101.9% |
| Diluted EPS | 0.05 | 0.08 | 0.00 |
| Diluted EPS YoY | unavailable | +60.0% | −100.0% |
| net % | 12.9% | 19.3% | -0.5% |
| Free cash flow | 84.8 k | 138.4 k | -1.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 4.7 m USD
- Financial debt
- 371.6 k USD
- Net debt
- -4.3 m USD
- Equity
- 5.2 m USD
- Total assets
- 9.9 m USD
- Debt / equity
- 0.07x
- Current ratio
- 1.89x
- ROE
- -0.9%
- ROA
- -0.3%
- FCF margin
- -32.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 6.0 m | 6.2 m | 4.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Cost of revenue | 11.3 k | 15.5 k | 35.2 k | SEC (XBRL)· 30 Jul 2026verified |
| Gross profit | 6.0 m ≈ | 6.2 m ≈ | 4.8 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Operating income | 1.0 m | 1.4 m | -29.2 k | SEC (XBRL)· 30 Jul 2026verified |
| Interest expense | 26.1 k | 20.9 k | 15.8 k | SEC (XBRL)· 30 Jul 2026verified |
| Pre-tax income | 1.0 m | 1.4 m | 133.5 k | SEC (XBRL)· 30 Jul 2026verified |
| Income tax | 181.8 k | 236.1 k | 156.1 k | SEC (XBRL)· 30 Jul 2026verified |
| Net income | 777.8 k | 1.2 m | -22.6 k | SEC (XBRL)· 30 Jul 2026verified |
| Diluted EPS | 0.05 | 0.08 | 0.00 | SEC (XBRL)· 30 Jul 2026verified |
| Weighted average diluted shares | 15.3 m | 15.3 m | 16.2 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 2.1 m | 816.8 k | 4.7 m | SEC (XBRL)· 30 Jul 2026verified |
| Receivables | — | 395.9 k | 201.5 k | SEC (XBRL)· 30 Jul 2026verified |
| Inventories | — | 26.8 k | 25.6 k | SEC (XBRL)· 30 Jul 2026verified |
| Current assets | — | 3.4 m | 8.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Property, plant & equipment, net | — | 500.1 k | 606.9 k | SEC (XBRL)· 30 Jul 2026verified |
| Total assets | — | 5.4 m | 9.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Accounts payable | — | 246.5 k | 415.3 k | SEC (XBRL)· 30 Jul 2026verified |
| Short-term debt | — | 314.2 k | 185.8 k | SEC (XBRL)· 30 Jul 2026verified |
| Long-term debt | — | — | 185.8 k | SEC (XBRL)· 30 Jul 2026verified |
| Current liabilities | — | 4.9 m | 4.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Total liabilities | — | 5.3 m | 4.7 m | SEC (XBRL)· 30 Jul 2026verified |
| Equity | -1.1 m | 49.2 k | 5.2 m | SEC (XBRL)· 30 Jul 2026verified |
Cash flow · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 295.4 k | 425.9 k | -1.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Capex | 210.6 k | 287.5 k | 339.6 k | SEC (XBRL)· 30 Jul 2026verified |
| Free cash flow | 84.8 k ≈ | 138.4 k ≈ | -1.6 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Investing cash flow | -210.6 k | -2.2 m | -179.0 k | SEC (XBRL)· 30 Jul 2026verified |
| Financing cash flow | 100.1 k | 521.3 k | 5.3 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -12.3% | 0 (on a fixed band) | 38% |
| Net margin · Quality | -0.5% | 40 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -1.9x | 0 (on a fixed band) | 23% |
| Current ratio · Balance sheet | 1.9x | 91 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet36/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality15/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Charming Medical Limited (MCTA). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 4.8 m USD in 2026; YoY growth -22.7%; net margin -0.5%; ROE -0.9%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 1.9x
What contradicts it
- ROIC: -12.3%
- Interest coverage: -1.9x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Misc Health & Allied Services, NEC (SIC 8090) · same industry (4-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DVADavita Inc. | 12.1 bn | 14.2 | — | 6.5% | +6.5% | +61% / +90% |
| FMSFresenius Medical Care AG | 6.5 bn | 6.9 | 7.0% | 5.0% | +1.5% | −3% / +13% |
| SHCSotera Health Company | 4.7 bn | 27.3 | 27.0% | 14.1% | +5.7% | −6% / +20% |
| PGNYProgyny, Inc. | 2.3 bn | 32.7 | 16.2% | 6.0% | +10.4% | +14% / −12% |
| AGLagilon health, inc. | 1.6 bn | 16.5 | -29.7% | -1.5% | −2.1% | +491% / −64% |
| VMDViemed Healthcare, Inc. | 383.1 m | 26.5 | 11.0% | 5.0% | +20.5% | +46% / +30% |
| CCELCryo-Cell International, Inc. | 40.9 m | — | — | -6.2% | −1.3% | +18% / −5% |
| BRTXBiorestorative Therapies, Inc. | 38.5 m | — | -241.1% | -3,089.6% | −10.3% | +40% / −21% |
| MGRXMangoceuticals, Inc. | 4.5 m | — | -95.1% | -4,791.3% | −26.0% | −81% / −98% |
| NIVFNewgenivf Group Limited | 166.5 k | 0.2 | 77.2% | 209.0% | −13.0% | −100% / −100% |
| MCTACharming Medical Limited | — | — | -0.9% | -0.5% | −22.7% | +31% / unavailable |
1- and 3-year price returns: for MCTA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 6-K (29 Sept 2026).
In brief
Charming Medical Limited is a Hong Kong-based provider of wellness and beauty services inspired by traditional Chinese medicine, focused on women's health and operating under the 'Beauty Lab' brand. The company listed on Nasdaq in October 2025, and in fiscal 2026 its total revenues fell 22.7% 1 to 4.8 million USD 1, as customer numbers and average spending declined.
SWOT
Strengths
- Staff with official Hong Kong TCM practitioner qualifications and a broad range of services for women.
- An integrated service model, from feminine care to prenatal and postpartum therapies, that can retain customers across life stages.
- Quality standards supported by training of service providers and selection of third-party product suppliers.
Weaknesses
- Near-total dependence on one segment, beauty, wellness and postpartum services, delivered in Hong Kong.
- Revenue largely recognized from packages paid in advance, which makes results harder to predict if new sales decline.
- Staff and rental costs that stay rigid when revenue falls, which pressured operating results.
Opportunities
- Expanding the 'Beauty Lab' franchise model could add revenue without large investment in owned premises.
- A recovery in Hong Kong tourism could again attract mainland visitors seeking traditional therapies.
- Selling consultancy and training services to other salons and massage centers could diversify income.
Threats
- Declines in average spending and customer numbers could continue if local demand stays weak.
- Strict regulation of TCM practice in Hong Kong could limit or raise the cost of operations.
- The lack of extensive clinical evidence for therapy effectiveness could weigh on customer and regulator confidence.
Risks
- Falling revenue and customershigh
Revenue fell sharply in fiscal 2026, and continued decline could affect the company's ability to cover fixed costs 1.
- Concentration of voting controlhigh
The founder holds a majority of votes and outstanding shares, which limits the influence of minority shareholders over decisions 1.
- Trading suspension and Nasdaq halthigh
The US regulator temporarily suspended trading in the shares, and Nasdaq halted it, pointing to manipulation and transparency risks 1.
- Dependence on a single territorymedium
All operations are in Hong Kong, so local economic and regulatory conditions could affect the company directly 1.
- Changes in board compositionmedium
Several independent directors changed during the period reviewed, which may indicate instability in governance 1.
Investment thesis
What would need to be true (bull case)
- If tourism recovery in Hong Kong continues and the franchise network grows, the company could regain some revenue without heavy capital spending 1.
- An integrated service model and qualified staff could retain existing customers and attract new ones through digital campaigns 1.
- If average customer spending stabilizes, revenue from new packages could gradually offset recognition from older packages 1.
What would break the thesis
- Revenue fell in fiscal 2026, and declines in customers and average spending could continue if demand does not recover 1.
- A large share of revenue from expired or prepaid packages means future results depend on new sales, which are uncertain 1.
- The founder's near-total control and the trading suspension could reduce confidence among minority investors 1.
What to watch
- Trend in customer numbers and average customer spendingnext 10-K
- Expansion of the 'Beauty Lab' franchise network2027
- Share of revenue from new packages versus revenue recognized on expirynext 10-K
- Stability of board composition after the 2026 changes2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 6-K (29 Sept 2026).
The business
The company has no material operations of its own; through subsidiaries in Hong Kong it runs three wellness centers offering beauty, wellness and postpartum services inspired by traditional Chinese medicine, such as herbal therapy, acupuncture and Tuina massage 1. Services target conditions such as premenstrual syndrome, menstrual irregularities, dysmenorrhea and breast health 1. Under the 'Beauty Lab' brand it also sells supplements and beauty products 1.
Beauty, wellness and postpartum services make up the bulk of revenue, at 93.8% in fiscal 2026 1. Much of revenue is recognized from packages sold in prior years: about 54.5% came from contract liabilities as of April 1, 2025, and about 34.5% from packages that expired unused 1. Future results therefore depend on the ability to sell new packages 1.
The company launched a franchise model for the 'Beauty Lab' brand in March 2025, and had three franchised stores as of March 31, 2026 1. During fiscal 2026 it closed its Tsim Sha Tsui hair service center, and customers holding unused packages are served at the remaining centers 1.
Segments
Market context
The company operates mainly in Hong Kong, where demand depends on disposable income and tourism, including mainland Chinese visitors who have traditionally sought TCM-inspired services 1. Practitioners must hold a registration certificate under local law 1. The effectiveness of TCM is not established by large-scale clinical studies, which remains a subject of research 1.
The local wellness services market is competitive, and the company spent 803 thousand USD on advertising and promotion in fiscal 2026 1. Its customer acquisition strategy relies on SEO and paid digital advertising 1.
Trends
- Recovery of tourism in Hong Kongtailwind
Hong Kong tourism is recovering after the pandemic, and mainland Chinese visitors have traditionally sought such services, which could support demand if the recovery continues 1.
- Lower average customer spendingheadwind
Average customer spending fell in fiscal 2026, eroding revenue even where the customer base stayed relatively stable 1.
- Effect of the consumption voucher schememixed
Growth in fiscal 2025 was partly supported by a government consumption voucher scheme, and the absence of a similar stimulus may add pressure on demand 1.
- Reliance on selling new packagesheadwind
As the balance of previously sold packages runs down, future results could depend increasingly on new package sales 1.
Competitive position
The company describes its competition as beauty salons, massage centers and similar institutions, to which it also offers consultancy and training services 1. Differentiation rests on TCM-qualified practitioners and a comprehensive service range 1.
The reviewed sources do not identify any US-listed competitors, so there are no direct comparative data on the company's market position 1.
- Beauty salons and massage centers in Hong Kong
Competitors named by the company, to which it also provides training; no listed entities are identified in the source.
- Traditional Chinese medicine centers in Hong Kong
Providers of therapies similar to the company's TCM-inspired offering, with no financial data in the source.
- Wellness and postpartum clinics
Local providers of women's services across life stages that compete for the same Hong Kong customers.
- Suppliers of personal care products and supplements
Competition in intimate care and supplement products sold under proprietary brands.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)29 Sept 2026
- Annual report (foreign issuer)30 Jul 2026
- Current report (foreign issuer)21 Jul 2026
- Current report (foreign issuer)06 May 2026
- Current report (foreign issuer)02 Apr 2026
- Current report (foreign issuer)31 Mar 2026
- Current report (foreign issuer)27 Mar 2026
- Current report (foreign issuer)06 Jan 2026
- Current report (foreign issuer)28 Nov 2025
- Current report (foreign issuer)13 Nov 2025
Sources
- [1] Form 20-F, fiscal year ended 2026-03-31 · SEC / Charming Medical Limited · 30 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.