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Large Chinese pharma group making traditional Chinese medicine and generic drugs, with a nationwide pharmacy retail/distribution network.
Large Chinese pharma group making traditional Chinese medicine and generic drugs, with a nationwide pharmacy retail/distribution network.
Distribution of other makers' drugs brings in a large share of revenue but little of the profit, while its own traditional-medicine and generic-drug factories, the pharmacy chain and the Wanglaoji herbal-tea brand carry the margins. This is the Hong Kong listing of the company trading in Shanghai as 600332.SS. Guangzhou's state-owned pharmaceutical group controls it.
In one line: A Chinese CVS Health plus a generic-drug maker.
Moat: narrow (brand, distribution, scale). Century-old TCM brands and one of China's largest pharmacy distribution networks.
Headquarters: Guangzhou, China · Founded: 1997 · Employees: 27,057
Size Guangzhou Baiyunshan Pharmaceutical (0874.HK) is a Hong Kong Health Care company (Pharmaceuticals: Major) with a market value of $4.56B, the 269th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$13.05 on 6 Nov 2026.
Performance Over six months the shares fell 22.6%, against +3.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 6.0% over the last twelve months (peer median +13.0%); the operating margin is 3.1% (peer median 16.5%).
Valuation It trades at 7.3× forward earnings against a peer median of 32.3× (cheapest of 17).
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 +4%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.2 points below its cost of capital (5.8% WACC).
Next results Next results expected around 12 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$88.8B | HK$84.0B | HK$81.1B | HK$83.1B | HK$82.0B |
| Revenue growth | — | +4% | -2% | +1% | — |
| Gross profit | HK$13.8B | HK$12.8B | HK$12.7B | HK$14.6B | HK$14.4B |
| EBITDA | n/a | HK$4.40B | HK$4.65B | HK$6.01B | HK$5.59B |
| Net income | HK$2.47B | HK$3.24B | HK$3.07B | HK$4.48B | HK$4.61B |
| Free cash flow | HK$1.59B | -HK$1.06B | HK$2.74B | HK$3.16B | HK$6.78B |
| Capital expenditure | HK$1.24B | HK$1.34B | HK$1.22B | HK$1.80B | HK$1.61B |
| Total debt | HK$27.2B | HK$23.0B | HK$19.7B | HK$17.4B | HK$17.7B |
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 |
|---|---|---|---|---|---|---|
| Guangzhou Baiyunshan Pharmaceutical 0874.HK | $4.56B | -23% | +6% | 3% | 7.3× | 0.7% |
| China Resources Pharmaceutical 3320.HK | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% |
| Yunnan Baiyao 000538.SZ | $14.7B | +4% | +5% | 11% | 18.0× | -0.5% |
| China Medical System 0867.HK | $3.30B | -16% | +15% | 20% | 10.9× | 2.9% |
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 | 0874.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.3% | +1.7% | 10th lowest of 20 |
| 6-month return | -22.6% | +3.3% | 4th lowest of 20 |
| Distance from 52-week high | -36.0% | -28.5% | 9th lowest of 21 |
| Revenue growth (TTM) | +6.0% | +13.0% | 8th lowest of 19 |
| Operating margin | 3.1% | 16.5% | 4th lowest of 19 |
| Forward P/E | 7.3× | 32.3× | cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 0.7% | 15.5% | 4th least demanding of 16 |
| Growth delivered (Del g) | +4.0% | +9.7% | 5th lowest of 16 |
| Hurdle (Req g minus delivered) | -3.3 pp | +2.1 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | -1.2 pp | +5.9 pp | 6th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangzhou Baiyunshan Pharmaceutical 0874.HK | Hong Kong | $4.56B | -23% | +6% | 3% | 7.3× | 0.7% | +4.0% |
| Legend Biotech Corp. Sponsored ADR LEGN | United States | $4.53B | -17% | +60% | -4% | 64.5× | n/a | n/a |
| GlaxoSmithKline Pharmaceuticals GLAXO.NS | India | $4.53B | +2% | +12% | 33% | 35.9× | 25.2% | +5.5% |
| Camurus CAMX.ST | Sweden | $4.52B | +47% | 0% | 37% | 48.5× | 10.4% | +46.5% |
| Emcure Pharmaceuticals EMCURE.NS | India | $4.47B | +33% | +21% | 16% | 33.9× | 14.9% | +12.7% |
| Sunshine Guojian Pharmaceutical (Shanghai) 688336.SS | China | $4.47B | -34% | +227% | 74% | 46.9× | 3.3% | +45.1% |
| Definium Therapeutics DFTX | United States | $4.47B | +51% | n/a | n/a | n/a | n/a | n/a |
| Humanwell Healthcare (Group) 600079.SS | China | $4.71B | +3% | -3% | 16% | 13.4× | -6.8% | +3.0% |
| Ajanta Pharma AJANTPHARM.NS | India | $4.37B | +7% | +25% | 25% | 32.2× | 23.8% | +13.8% |
| Travere Therapeutics TVTX | United States | $4.76B | +16% | +49% | -3% | 16.9× | 16.7% | +19.9% |
| HanmiPharm 128940.KS | South Korea | $4.36B | +2% | +14% | 16% | 16.8× | 5.0% | +7.5% |
| Novast Laboratories 301569.SZ | China | $4.82B | n/a | +3% | 27% | n/a | 42.6% | +3.1% |
| Erasca ERAS | United States | $5.04B | +42% | n/a | n/a | n/a | n/a | n/a |
| Tianjin Pharmaceutical Da Ren Tang 600329.SS | China | $4.11B | +4% | -13% | 20% | 31.4× | 17.8% | -5.8% |
| Shanghai Junshi Biosciences 1877.HK | Hong Kong | $4.08B | -39% | +36% | -14% | n/a | n/a | n/a |
| SKBP 326030.KS | South Korea | $5.12B | -11% | +39% | 35% | 21.6× | 0.5% | +93.6% |
| HUBEI JUMPCAN PHARMACEUTICAL 600566.SS | China | $4.05B | +6% | -4% | 32% | 14.9× | -11.5% | +0.3% |
| Yuhan 000100.KS | South Korea | $4.05B | -12% | +5% | 5% | 38.6× | 20.2% | +6.2% |
| Shenzhen Salubris Pharmaceuticals 002294.SZ | China | $5.18B | -39% | +14% | 11% | 41.6× | 15.5% | +9.7% |
| IPCA Laboratories IPCALAB.NS | India | $5.22B | +24% | +11% | 17% | 32.4× | 17.8% | +12.2% |
| Siegfried SFZN.SW | Switzerland | $3.98B | -10% | +4% | 16% | 17.8× | n/a | n/a |