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Chinese pharma company spanning prescription drugs, diabetes/endocrine care and medical aesthetics (fillers, devices).
Chinese pharma company spanning prescription drugs, diabetes/endocrine care and medical aesthetics (fillers, devices).
Resells other makers' drugs to hospitals and pharmacies, which brings in the most revenue at thin margins, while its own prescription drugs, including diabetes treatments, and its aesthetics products carry most of the profit. Aesthetics are mostly paid for by consumers rather than insurance, which keeps that line outside government drug-price controls.
In one line: A Chinese Allergan-meets-Novo Nordisk generics hybrid.
Moat: narrow (brand, distribution). Established hospital sales network plus a fast-growing aesthetics distribution and device business.
Headquarters: Hangzhou, China · Founded: 1993 · Employees: 19,095
Size Huadong Medicine (000963.SZ) is a China Health Care company (Pharmaceuticals: Major) with a market value of $7.29B, the 338th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥27.72 on 6 Nov 2026.
Performance Over six months the shares fell 16.9%, against +6.7% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 2.4% over the last twelve months (peer median +10.4%); the operating margin is 9.2% (peer median 16.9%).
Valuation It trades at 14.0× forward earnings against a peer median of 17.7× (4th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.9 points above its cost of capital (6.2% WACC).
Next results Next results expected around 22 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥44.0B | CN¥43.4B | CN¥41.7B | CN¥40.4B | CN¥37.5B |
| Revenue growth | — | +4% | +3% | +8% | — |
| Gross profit | CN¥14.4B | CN¥13.4B | CN¥13.3B | CN¥12.6B | CN¥11.5B |
| EBITDA | n/a | CN¥5.16B | CN¥5.18B | CN¥4.41B | CN¥3.86B |
| Net income | CN¥3.44B | CN¥3.41B | CN¥3.51B | CN¥2.84B | CN¥2.50B |
| Free cash flow | CN¥2.30B | CN¥2.74B | CN¥2.07B | CN¥2.42B | CN¥1.29B |
| Capital expenditure | CN¥1.24B | CN¥1.57B | CN¥1.73B | CN¥1.61B | CN¥1.19B |
| Total debt | CN¥5.67B | CN¥5.03B | CN¥5.65B | CN¥3.74B | CN¥3.70B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Huadong Medicine 000963.SZ | $7.29B | -17% | +2% | 9% | 14.0× | -2.7% |
| Sbp 1177.HK | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% |
| IMEIK Technology Development 300896.SZ | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% |
| Bloomage Biotechnology 688363.SS | $2.49B | -16% | -22% | 5% | 55.6× | 20.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000963.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.9% | +5.7% | 9th lowest of 21 |
| 6-month return | -16.9% | +6.7% | 4th lowest of 21 |
| Distance from 52-week high | -36.7% | -11.5% | 5th lowest of 21 |
| Revenue growth (TTM) | +2.4% | +10.4% | 6th lowest of 20 |
| Operating margin | 9.2% | 16.9% | 5th lowest of 19 |
| Forward P/E | 14.0× | 17.7× | 4th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -2.7% | 7.6% | 6th least demanding of 14 |
| Growth delivered (Del g) | +5.3% | +10.7% | lowest of 14 |
| Hurdle (Req g minus delivered) | -8.0 pp | -5.0 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +6.9 pp | +1.9 pp | 7th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Huadong Medicine 000963.SZ | China | $7.29B | -17% | +2% | 9% | 14.0× | -2.7% | +5.3% |
| Bachem BANB.SW | Switzerland | $7.32B | +3% | +5% | 19% | 33.1× | n/a | n/a |
| Kiniksa Pharmaceuticals International KNSA | United States | $7.37B | +60% | +58% | 14% | 61.7× | 9.9% | +45.5% |
| Cytokinetics CYTK | United States | $7.46B | -30% | -21% | -1,046% | n/a | n/a | n/a |
| Grifols GRF.MC | Spain | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% | +7.1% |
| Amneal Pharmaceuticals AMRX | United States | $7.01B | +53% | +9% | 17% | 17.7× | 15.2% | +8.7% |
| ONO Pharmaceutical 4528.T | Japan | $7.01B | +2% | -2% | 22% | 14.7× | -8.2% | +10.8% |
| RemeGen 9995.HK | Hong Kong | $6.92B | -31% | +293% | 61% | 7.4× | -4.8% | +57.9% |
| Alkermes Public ALKS | United States | $7.71B | +31% | +15% | 5% | n/a | 31.5% | +7.3% |
| Glenmark Pharmaceuticals GLENMARK.NS | India | $7.73B | +9% | +33% | 20% | 32.0× | 20.0% | +9.4% |
| Praxis Precision Medicines PRAX | United States | $7.75B | -16% | -100% | n/a | n/a | n/a | n/a |
| Rhythm Pharmaceuticals RYTM | United States | $7.78B | +19% | +61% | -67% | n/a | n/a | n/a |
| Oruka Therapeutics ORKA | United States | $6.81B | +59% | n/a | n/a | n/a | n/a | n/a |
| Corcept Therapeutics CORT | United States | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% | +16.6% |
| Alkem Laboratories ALKEM.NS | India | $6.67B | -5% | +13% | 17% | 27.4× | 24.3% | +10.7% |
| H. Lundbeck A/S HLUN-A.CO | Denmark | $8.02B | +47% | +9% | 27% | n/a | -9.1% | +6.6% |
| Kyowa Kirin 4151.T | Japan | $8.05B | +4% | +10% | 24% | 15.6× | -6.1% | +9.3% |
| Asymchem Laboratories (Tianjin) 002821.SZ | China | $8.07B | +23% | +18% | 17% | 41.4× | n/a | n/a |
| Ionis Pharmaceuticals IONS | United States | $6.55B | -48% | -7% | -68% | n/a | n/a | n/a |
| ALK-abello A/S ALK-B.CO | Denmark | $8.14B | -5% | +17% | 27% | 35.7× | 7.6% | +12.6% |
| China Resources Sanjiu Medical & Pharmaceutical 000999.SZ | China | $6.48B | 0% | +4% | 14% | 12.8× | -6.3% | +18.4% |