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China's largest pharmaceutical and medical-device distributor, state-owned, covering nationwide hospital and retail supply chains.
China's largest pharmaceutical and medical-device distributor, state-owned, covering nationwide hospital and retail supply chains.
Buys medicines and devices from manufacturers and resells them to hospitals and pharmacies, earning a small margin on each sale, so volume and payment terms matter more than price. A state-owned parent, China National Pharmaceutical Group, controls it.
In one line: China's McKesson/Cardinal Health for drug distribution.
Moat: narrow (scale, distribution, regulatory licence). Nationwide logistics network and state backing give scale advantages in a low-margin business.
Headquarters: Beijing, China · Founded: 2003 · Employees: 94,910
Size Sinopharm (1099.HK) is a Hong Kong Health Care company (Medical Distributors) with a market value of $6.83B, the 217th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$17.16 on 6 Nov 2026.
Performance Over six months the shares fell 3.7%, against +7.8% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 12 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +6.2%); the operating margin is 2.9% (peer median 3.8%).
Valuation It trades at 6.3× forward earnings against a peer median of 16.6× (cheapest of 11).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.2 points above its cost of capital (5.2% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$639B | HK$624B | HK$634B | HK$659B | HK$642B |
| Revenue growth | — | -2% | -4% | +3% | — |
| Gross profit | HK$43.1B | HK$43.3B | HK$46.0B | HK$51.6B | HK$53.1B |
| EBITDA | HK$22.8B | HK$22.7B | HK$23.9B | HK$28.9B | HK$30.3B |
| Net income | HK$7.92B | HK$7.76B | HK$7.64B | HK$10.0B | HK$9.91B |
| Free cash flow | HK$20.1B | HK$11.6B | -HK$5.87B | HK$12.9B | HK$17.0B |
| Capital expenditure | HK$1.77B | HK$1.75B | HK$2.13B | HK$2.58B | HK$2.81B |
| Total debt | n/a | HK$112B | HK$122B | HK$123B | HK$120B |
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 |
|---|---|---|---|---|---|---|
| Sinopharm 1099.HK | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% |
| China Resources Pharmaceutical 3320.HK | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% |
| Shanghai Pharmaceuticals 2607.HK | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% |
| Jointown Pharmaceutical 600998.SS | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% |
| Nanjing Pharmaceutical 600713.SS | $1.03B | +1% | +3% | 2% | n/a | n/a |
| DaShenLin Pharmaceutical 603233.SS | $3.80B | +15% | +7% | 8% | 16.6× | -9.0% |
| Yifeng Pharmacy Chain 603939.SS | $4.91B | +17% | +5% | 10% | 17.2× | -9.2% |
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 | 1099.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.6% | +3.6% | highest of 12 |
| 6-month return | -3.7% | +7.8% | 3rd lowest of 12 |
| Distance from 52-week high | -19.3% | -14.1% | 4th lowest of 12 |
| Revenue growth (TTM) | +2.8% | +6.2% | 3rd lowest of 12 |
| Operating margin | 2.9% | 3.8% | 5th lowest of 12 |
| Forward P/E | 6.3× | 16.6× | cheapest of 11 |
| Growth the price implies (Req g, 7 yrs) | -8.1% | 0.6% | 3rd least demanding of 11 |
| Growth delivered (Del g) | +4.0% | +4.5% | 6th highest of 11 |
| Hurdle (Req g minus delivered) | -12.1 pp | -4.9 pp | 3rd least demanding of 11 |
| ROIC minus cost of capital | +0.2 pp | +1.6 pp | 5th lowest of 12 |
| Net debt / EBITDA | 3.3× | 0.5× | most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sinopharm 1099.HK | Hong Kong | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% | +4.0% |
| DKSH DKSH.SW | Switzerland | $6.10B | +29% | -1% | 3% | 21.5× | -1.4% | +0.6% |
| Galenica GALE.SW | Switzerland | $5.46B | +8% | +6% | 5% | 23.4× | 6.9% | +3.5% |
| Henry Schein HSIC | United States | $9.51B | +22% | +6% | 6% | 14.8× | 9.8% | +5.4% |
| Jointown Pharmaceutical 600998.SS | China | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% | +7.8% |
| Amplifon AMP.MI | Italy | $3.72B | +13% | 0% | 9% | 18.1× | 9.5% | +9.8% |
| MEDIPAL 7459.T | Japan | $3.67B | +14% | +4% | 1% | 12.6× | -7.4% | +3.5% |
| COSMOS Pharmaceutical 3349.T | Japan | $3.20B | +5% | +9% | 4% | 15.7× | n/a | n/a |
| Asker Healthcare ASKER.ST | Sweden | $2.98B | -5% | +12% | 7% | 26.6× | 1.2% | +12.7% |
| Alfresa 2784.T | Japan | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% | +3.5% |
| Hanmi Science 008930.KS | South Korea | $2.71B | +44% | +6% | 5% | n/a | 24.2% | +9.6% |
| Suzuken 9987.T | Japan | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% | +3.2% |