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Large Chinese pharma company making innovative and generic drugs across oncology, cardiovascular and CNS therapeutic areas.
Large Chinese pharma company making innovative and generic drugs across oncology, cardiovascular and CNS therapeutic areas.
Sells prescription drugs to hospitals through a large sales force and distributors. In China, public tenders for older generic drugs set low prices, so the company has tried to shift its mix toward newer patented medicines. It also makes bulk drug ingredients that it sells to other drugmakers.
In one line: A Chinese Sanofi/Teva hybrid (innovative + generics).
Moat: narrow (scale, distribution, IP / patents). Broad hospital sales network plus a growing pipeline of patented innovative drugs versus pure generic peers.
Headquarters: Shijiazhuang, China · Founded: 1970 · Employees: 19,700
Size Cspc Pharma (1093.HK) is a Hong Kong Health Care company (Biotechnology) with a market value of $12.4B, the 137th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$8.45 on 6 Nov 2026.
Performance Over six months the shares gained 4.6%, against +9.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 25.2% over the last twelve months (peer median +32.0%); the operating margin is 28.2% (peer median 8.0%).
Valuation It trades at 9.3× forward earnings against a peer median of 35.9× (cheapest of 12).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 23.0 points above its cost of capital (7.7% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$35.1B | HK$28.2B | HK$31.5B | HK$34.8B | HK$36.0B |
| Revenue growth | — | -10% | -9% | -3% | — |
| Gross profit | HK$25.3B | HK$18.5B | HK$22.0B | HK$24.5B | HK$25.9B |
| EBITDA | HK$11.5B | HK$5.84B | HK$7.25B | HK$8.97B | HK$9.11B |
| Net income | HK$8.41B | HK$4.21B | HK$4.69B | HK$6.49B | HK$7.08B |
| Free cash flow | HK$13.9B | HK$4.44B | HK$2.90B | HK$3.13B | HK$6.62B |
| Capital expenditure | HK$2.21B | HK$2.47B | HK$2.90B | HK$2.09B | HK$3.17B |
| Total debt | n/a | HK$714M | HK$540M | HK$778M | HK$654M |
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 |
|---|---|---|---|---|---|---|
| Cspc Pharma 1093.HK | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% |
| Sbp 1177.HK | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% |
| Jiangsu Hengrui Pharmaceuticals 600276.SS | $49.7B | -6% | +6% | 27% | 36.4× | 14.9% |
| Shanghai Fosun Pharmaceutical (Group) 600196.SS | $8.70B | -5% | +8% | 6% | 17.0× | 4.1% |
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 | 1093.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.9% | -4.6% | 6th lowest of 21 |
| 6-month return | +4.6% | +9.7% | 8th lowest of 21 |
| Distance from 52-week high | -21.2% | -26.0% | 9th highest of 21 |
| Revenue growth (TTM) | +25.2% | +32.0% | 9th lowest of 19 |
| Operating margin | 28.2% | 8.0% | 4th highest of 19 |
| Forward P/E | 9.3× | 35.9× | cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | -10.3% | 15.3% | least demanding of 13 |
| Growth delivered (Del g) | +0.1% | +21.0% | lowest of 13 |
| Hurdle (Req g minus delivered) | -10.4 pp | -7.1 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | +23.0 pp | -5.4 pp | 4th highest of 18 |
| EV / EBITDA | 6.8× | 23.7× | cheapest of 9 |
| Net debt / EBITDA | -1.8× | -0.1× | 4th least indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Cspc Pharma 1093.HK | Hong Kong | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% | +0.1% |
| Elanco Animal Health ELAN | United States | $12.9B | +9% | +12% | 7% | 21.8× | 34.8% | +7.6% |
| Halozyme Therapeutics HALO | United States | $11.8B | +62% | +41% | 57% | 10.7× | 2.5% | +39.2% |
| Summit Therapeutics SMMT | United States | $13.1B | -10% | n/a | n/a | n/a | n/a | n/a |
| Bio-Techne TECH | United States | $11.4B | +51% | 0% | 22% | 35.9× | 31.3% | +5.5% |
| Kymera Therapeutics KYMR | United States | $11.2B | +53% | +134% | -396% | n/a | n/a | n/a |
| BioMarin Pharmaceutical BMRN | United States | $10.9B | +4% | +20% | 19% | 10.3× | 6.5% | +12.0% |
| Sichuan Kelun Pharmaceutical 002422.SZ | China | $10.8B | +30% | 0% | 9% | 37.3× | 7.2% | +2.3% |
| BridgeBio Pharma BBIO | United States | $14.5B | +10% | +167% | -37% | n/a | n/a | n/a |
| ALTEOGEN 196170.KS | South Korea | $10.3B | -46% | +61% | 53% | 47.0× | 29.8% | +38.5% |
| Vaxcyte PCVX | United States | $10.1B | +21% | n/a | n/a | n/a | n/a | n/a |
| Neurocrine Biosciences NBIX | United States | $16.7B | +8% | +38% | 25% | 18.2× | -1.7% | +22.3% |
| Krystal Biotech KRYS | United States | $8.92B | -2% | +26% | 48% | 34.7× | 11.9% | +26.0% |
| Genscript Biotech 1548.HK | Hong Kong | $8.81B | +96% | +53% | 12% | 297.9× | 36.5% | +19.8% |
| Arrowhead Pharmaceuticals ARWR | United States | $8.22B | -20% | +17% | -34% | n/a | n/a | n/a |
| Twist Bioscience TWST | United States | $7.95B | +112% | +19% | -32% | n/a | n/a | n/a |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | n/a | 41.8% | +16.6% |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 86.1× | 18.7% | +85.4% |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 75.5× | n/a | n/a |
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -4,056% | n/a | n/a | n/a |
| BioNTech SE Sponsored ADR BNTX | United States | $22.8B | -7% | -1% | -38% | n/a | 5.7% | +42.6% |