Employees: 2,086
Size Harbin Medisan Pharmaceutical (002900.SZ) is a China Health Care company (Pharmaceuticals: Major) with a market value of $467M, the 4030th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥10.05 on 6 Nov 2026.
Performance Over six months the shares fell 13.1%, against -19.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 20 in its peer set.
Growth Revenue fell 4.5% over the last twelve months (peer median -3.1%); the operating margin is -28.7% (peer median 3.3%).
Valuation It trades at 4.5× enterprise value to sales against a peer median of 4.0× (10th most expensive of 21).
Capital Return on invested capital runs 10.5 points below its cost of capital (6.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥832M | CN¥787M | CN¥1.12B | CN¥1.18B | CN¥1.02B |
| Revenue growth | — | -30% | -5% | +16% | — |
| Gross profit | CN¥361M | CN¥244M | CN¥528M | CN¥660M | CN¥606M |
| EBITDA | n/a | -CN¥204M | CN¥149M | CN¥106M | CN¥78.3M |
| Net income | -CN¥225M | -CN¥340M | CN¥58.7M | CN¥73.7M | CN¥30.2M |
| Free cash flow | -CN¥118M | -CN¥255M | -CN¥295M | -CN¥256M | CN¥63.6M |
| Capital expenditure | CN¥158M | CN¥248M | CN¥346M | CN¥300M | CN¥89.2M |
| Total debt | CN¥980M | CN¥1.14B | CN¥1.06B | CN¥802M | CN¥744M |
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| Measure | 002900.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.4% | -11.3% | 4th lowest of 20 |
| 6-month return | -13.1% | -19.7% | 9th highest of 20 |
| Distance from 52-week high | -41.5% | -40.7% | 10th lowest of 20 |
| Revenue growth (TTM) | -4.5% | -3.1% | 10th lowest of 21 |
| Operating margin | -28.7% | 3.3% | 6th lowest of 21 |
| EV / Sales | 4.5× | 4.0× | 10th most expensive of 21 |
| ROIC minus cost of capital | -10.5 pp | -2.5 pp | 4th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Harbin Medisan Pharmaceutical 002900.SZ | China | $467M | -13% | -5% | -29% | 4.5× | n/a | n/a |
| Evonile Pharma EVONILE.NS | India | $466M | n/a | -5% | 12% | 14.5× | 46.5% | -1.5% |
| Shaanxi Kanghui Pharmaceutical Co 603139.SS | China | $466M | -20% | -21% | -68% | 9.0× | n/a | n/a |
| Teyi Pharmaceutical 002728.SZ | China | $465M | -9% | -7% | 7% | 3.5× | 26.6% | +8.0% |
| Shanghai Jiaoda Onlly 600530.SS | China | $464M | -22% | -2% | -2% | 10.4× | 33.5% | -0.9% |
| Zhuhai Rundu Pharmaceutical 002923.SZ | China | $464M | -30% | +14% | 5% | 2.4× | 2.5% | -1.3% |
| Zhejiang Huakang Pharmaceutical 605077.SS | China | $470M | -39% | +35% | 4% | 1.2× | n/a | n/a |
| Kexing Biopharm 688136.SS | China | $470M | -38% | -14% | -12% | 3.1× | n/a | n/a |
| Zhejiang Chengyi Pharmaceutical 603811.SS | China | $463M | -21% | +7% | 19% | 3.6× | 7.1% | +1.3% |
| Cachet Pharmaceutical 002462.SZ | China | $471M | -22% | -14% | 0% | 0.2× | -8.9% | -3.4% |
| YungShin Global 3705.TW | Taiwan | $474M | +7% | -8% | 15% | 1.9× | -4.9% | +0.7% |
| Pulike Biological Engineering 603566.SS | China | $475M | -22% | -9% | 5% | 2.5× | 5.7% | +3.3% |
| Jiangsu Sihuan Bioengineering 000518.SZ | China | $476M | +7% | -17% | -28% | 11.5× | n/a | n/a |
| Hainan Shuangcheng Pharmaceuticals 002693.SZ | China | $476M | -10% | +40% | 13% | 11.1× | 44.5% | +1.0% |
| Elixiron Immunotherapeutics (Cayman) 7871.TWO | Taiwan | $477M | +62% | +10,947% | -194% | 132.2× | n/a | n/a |
| CytomX Therapeutics CTMX | United States | $477M | -45% | -87% | -477% | 8.3× | n/a | n/a |
| Beijing Foyou Pharma 601089.SS | China | $455M | -24% | +5% | 10% | 0.2× | n/a | n/a |
| Gufic Biosciences GUFICBIO.NS | India | $454M | +44% | +17% | 14% | 4.4× | n/a | n/a |
| Aquestive Therapeutics AQST | United States | $454M | -16% | +13% | -114% | 10.5× | n/a | n/a |
| Alpha Teknova TKNO | United States | $482M | +104% | +12% | -35% | 11.3× | n/a | n/a |
| Shanghai Shenqi Pharmaceutical Investment Management 600613.SS | China | $483M | +9% | -4% | 3% | 1.4× | 13.4% | +1.4% |