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Employees: 2,718
Size Jinhe Biotechnology (002688.SZ) is a China Health Care company (Pharmaceuticals: Major) with a market value of $587M, the 3475th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.67 on 6 Nov 2026.
Performance Over six months the shares fell 22.4%, against -21.0% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 9.2% over the last twelve months (peer median +0.7%); the operating margin is 4.7% (peer median 2.5%).
Valuation It trades at 9.5× forward earnings against a peer median of 18.1× (cheapest of 9).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +5 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 2.7 points below its cost of capital (5.0% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.94B | CN¥2.87B | CN¥2.37B | CN¥2.16B | CN¥2.11B |
| Revenue growth | — | +21% | +10% | +3% | — |
| Gross profit | CN¥941M | CN¥869M | CN¥709M | CN¥565M | CN¥539M |
| EBITDA | CN¥392M | CN¥542M | CN¥384M | CN¥331M | CN¥288M |
| Net income | CN¥20.5M | CN¥27.6M | CN¥100M | CN¥86.5M | CN¥75.6M |
| Free cash flow | CN¥258M | CN¥147M | CN¥135M | -CN¥256M | -CN¥280M |
| Capital expenditure | CN¥329M | CN¥320M | CN¥362M | CN¥457M | CN¥402M |
| Total debt | CN¥2.55B | CN¥2.45B | CN¥2.52B | CN¥2.37B | CN¥1.61B |
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.
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 | 002688.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.4% | -7.2% | 9th lowest of 21 |
| 6-month return | -22.4% | -21.0% | 9th lowest of 21 |
| Distance from 52-week high | -33.3% | -35.8% | 8th highest of 21 |
| Revenue growth (TTM) | +9.2% | +0.7% | 8th highest of 20 |
| Operating margin | 4.7% | 2.5% | 9th highest of 19 |
| Forward P/E | 9.5× | 18.1× | cheapest of 9 |
| Growth the price implies (Req g, 7 yrs) | 14.8% | 0.9% | 3rd most demanding of 9 |
| Growth delivered (Del g) | +9.7% | +6.3% | 3rd highest of 9 |
| Hurdle (Req g minus delivered) | +5.1 pp | -6.7 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | -2.7 pp | -1.5 pp | 9th lowest of 18 |
| EV / EBITDA | 15.2× | 19.3× | 3rd cheapest of 6 |
| Net debt / EBITDA | 4.7× | 1.0× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jinhe Biotechnology 002688.SZ | China | $587M | -22% | +9% | 5% | 9.5× | 14.8% | +9.7% |
| Jinling Pharmaceutical 000919.SZ | China | $586M | -14% | -8% | 1% | n/a | 5.0% | +5.0% |
| Abbisko Cayman 2256.HK | Hong Kong | $589M | -48% | -83% | -520% | n/a | n/a | n/a |
| Supriya Lifescience SUPRIYA.NS | India | $593M | -1% | +28% | 30% | 23.6× | 27.9% | +15.8% |
| TTY Biopharm 4105.TWO | Taiwan | $596M | +7% | +5% | 33% | 10.9× | -11.1% | +8.8% |
| Tianjin Lisheng Pharmaceutical 002393.SZ | China | $598M | -23% | -3% | 7% | 9.7× | -3.2% | +4.1% |
| Nanjing Hicin Pharmaceutical 300584.SZ | China | $573M | -25% | +32% | 17% | n/a | 5.5% | -1.1% |
| Bicara Therapeutics BCAX | United States | $572M | -62% | n/a | n/a | n/a | n/a | n/a |
| Aclaris Therapeutics ACRS | United States | $604M | -21% | -51% | -1,040% | n/a | n/a | n/a |
| Senores Pharmaceuticals SENORES.NS | India | $566M | +25% | +40% | 24% | 34.2× | n/a | n/a |
| Beijing Science Sun Pharmaceutical 300485.SZ | China | $566M | -28% | -11% | -8% | n/a | n/a | n/a |
| Chongkundang 185750.KS | South Korea | $611M | -26% | +7% | 4% | 12.6× | n/a | n/a |
| Beijing Tong Ren Tang Chinese Medicine 3613.HK | Hong Kong | $617M | -22% | -21% | 32% | 10.9× | -14.3% | +2.8% |
| Ovid Therapeutics OVID | United States | $557M | +2% | -76% | -3,687% | n/a | n/a | n/a |
| Innova Captab INNOVACAP.NS | India | $618M | +18% | +34% | 12% | 30.4× | 25.4% | +31.4% |
| Chimin Health Management 603222.SS | China | $553M | -28% | +1% | -28% | n/a | n/a | n/a |
| Orchid Pharma ORCHPHARMA.NS | India | $551M | +27% | +11% | 0% | 75.5× | n/a | n/a |
| Zhong Zhu Healthcare 600568.SS | China | $628M | -21% | -6% | -34% | n/a | n/a | n/a |
| Entera Bio ENTX | United States | $546M | +142% | -100% | n/a | n/a | n/a | n/a |
| Jiangsu Lianhuan Pharmaceutical 600513.SS | China | $546M | -44% | +14% | 0% | n/a | n/a | n/a |
| Shanghai Xiao Fang Pharmaceutical 603207.SS | China | $544M | -14% | +10% | 39% | n/a | -3.9% | +7.6% |