Zhejiang pharmaceutical holding company with stakes in drug manufacturing and healthcare-related businesses.
Zhejiang pharmaceutical holding company with stakes in drug manufacturing and healthcare-related businesses.
Moat: none. Diversified holding structure with no single dominant franchise.
Headquarters: Zhejiang, China · Employees: 1,348
Size Wanbangde Pharmaceutical (002082.SZ) is a China Health Care company (Pharmaceuticals: Major) with a market value of $909M, the 2496th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.97 on 6 Nov 2026.
Performance Over six months the shares fell 65.0%, against -11.9% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue fell 11.2% over the last twelve months (peer median +1.3%); the operating margin is -3.3% (peer median 3.6%).
Valuation It trades at 5.9× enterprise value to sales against a peer median of 4.4× (6th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is -39%, so the hurdle is +38 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.8 points below its cost of capital (6.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.13B | CN¥1.11B | CN¥1.44B | CN¥1.53B | CN¥1.77B |
| Revenue growth | — | -22% | -6% | -13% | — |
| Gross profit | CN¥421M | CN¥317M | CN¥543M | CN¥568M | CN¥862M |
| EBITDA | CN¥95.4M | -CN¥23.1M | CN¥184M | CN¥169M | CN¥341M |
| Net income | -CN¥117M | -CN¥167M | CN¥55.4M | CN¥49.2M | CN¥93.3M |
| Free cash flow | CN¥479M | CN¥303M | CN¥32.3M | -CN¥199M | -CN¥406M |
| Capital expenditure | CN¥139M | CN¥302M | CN¥88.4M | CN¥129M | CN¥167M |
| Total debt | CN¥1.07B | CN¥1.17B | CN¥1.06B | CN¥1.01B | CN¥912M |
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| Measure | 002082.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.6% | -6.6% | 3rd lowest of 20 |
| 6-month return | -65.0% | -11.9% | lowest of 20 |
| Distance from 52-week high | -72.5% | -33.9% | lowest of 21 |
| Revenue growth (TTM) | -11.2% | +1.3% | 4th lowest of 19 |
| Operating margin | -3.3% | 3.6% | 6th lowest of 19 |
| EV / Sales | 5.9× | 4.4× | 6th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -1.2% | 16.2% | 2nd least demanding of 8 |
| Growth delivered (Del g) | -39.5% | +12.4% | lowest of 8 |
| Hurdle (Req g minus delivered) | +38.3 pp | -9.9 pp | most demanding of 8 |
| ROIC minus cost of capital | -7.8 pp | -2.2 pp | 4th lowest of 17 |
| EV / EBITDA | 69.7× | 18.2× | most expensive of 7 |
| Net debt / EBITDA | 5.3× | 1.8× | most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wanbangde Pharmaceutical 002082.SZ | China | $909M | -65% | -11% | -3% | 5.9× | -1.2% | -39.5% |
| Hunan Er-Kang Pharmaceutical 300267.SZ | China | $909M | -33% | -14% | -29% | 5.2× | n/a | n/a |
| Guizhou Bailing Group Pharmaceutical 002424.SZ | China | $907M | -12% | -25% | 2% | 2.9× | 16.2% | -0.2% |
| Bide Pharmatech 688073.SS | China | $912M | +5% | +10% | 19% | 3.6× | 16.7% | +27.7% |
| Oric Pharmaceuticals ORIC | United States | $914M | 0% | n/a | n/a | n/a | n/a | n/a |
| Beijing Sun-Novo Pharmaceutical Research 688621.SS | China | $894M | -8% | -1% | -2% | 6.1× | n/a | n/a |
| Zhejiang Ausun Pharmaceutical 603229.SS | China | $893M | -27% | +1% | 0% | 7.1× | n/a | n/a |
| Aarti Pharmalabs AARTIPHARM.NS | India | $892M | +19% | +13% | 18% | 4.3× | n/a | n/a |
| Dezhan Healthcare 000813.SZ | China | $928M | -18% | -10% | -121% | 15.8× | n/a | n/a |
| GuangYuYuan Chinese Herbal Medicine 600771.SS | China | $930M | -24% | -6% | 5% | 4.4× | 33.2% | +4.2% |
| Corvus Pharmaceuticals CRVS | United States | $887M | -32% | n/a | n/a | n/a | n/a | n/a |
| Nxera Pharma 4565.T | Japan | $932M | +63% | +24% | 14% | 5.1× | 16.2% | +27.3% |
| Aktis Oncology AKTS | United States | $880M | -15% | +337% | -1,150% | 57.5× | n/a | n/a |
| Hunan Warrant Pharmaceutical 688799.SS | China | $942M | -20% | +5% | 9% | 4.7× | n/a | n/a |
| City Therapeutics CTY | United States | $944M | n/a | +388% | -442% | n/a | n/a | n/a |
| Daewoong Pharm 069620.KS | South Korea | $874M | -30% | +9% | 12% | 0.7× | n/a | n/a |
| Pharming PHARM.AS | Netherlands | $874M | -2% | +2% | 9% | 2.1× | 2.5% | +12.4% |
| Northeast Pharmaceutical 000597.SZ | China | $948M | -10% | -6% | 3% | 1.0× | -6.8% | -0.7% |
| Immatics IMTX | United States | $952M | -44% | -65% | -556% | 10.7× | n/a | n/a |
| Hygeia Healthcare 6078.HK | Hong Kong | $861M | -7% | +2% | 14% | 1.9× | 4.8% | +22.5% |
| Kaken Pharmaceutical 4521.T | Japan | $854M | -8% | -7% | 11% | 0.9× | n/a | n/a |