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Employees: 3,951
Size Tong Ren Tang Technologies (1666.HK) is a Hong Kong Health Care company (Pharmaceuticals: Major) with a market value of $484M, the 756th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.96 on 6 Nov 2026.
Performance Over six months the shares fell 23.2%, against -16.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 13.9% over the last twelve months (peer median +2.9%); the operating margin is 11.6% (peer median 0.5%).
Valuation It trades at 7.2× forward earnings against a peer median of 17.6× (2nd cheapest of 7).
Price implies For today's price to make sense, revenue must grow about -19% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points below its cost of capital (6.8% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$6.45B | HK$7.03B | HK$7.87B | HK$7.48B | HK$6.97B |
| Revenue growth | — | -11% | +5% | +7% | — |
| Gross profit | HK$2.38B | HK$2.63B | HK$3.08B | HK$3.11B | HK$2.99B |
| EBITDA | HK$1.12B | HK$1.23B | HK$1.38B | HK$1.54B | HK$1.71B |
| Net income | HK$347M | HK$430M | HK$566M | HK$652M | HK$678M |
| Free cash flow | HK$1.32B | HK$1.63B | -HK$78.6M | HK$594M | HK$703M |
| Capital expenditure | HK$112M | HK$140M | HK$233M | HK$119M | HK$201M |
| Total debt | n/a | HK$2.42B | HK$2.79B | HK$1.79B | HK$1.79B |
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 | 1666.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.7% | -11.3% | 5th highest of 21 |
| 6-month return | -23.2% | -16.4% | 8th lowest of 20 |
| Distance from 52-week high | -40.1% | -43.4% | 10th highest of 21 |
| Revenue growth (TTM) | -13.9% | +2.9% | 5th lowest of 20 |
| Operating margin | 11.6% | 0.5% | 5th highest of 20 |
| Forward P/E | 7.2× | 17.6× | 2nd cheapest of 7 |
| Growth the price implies (Req g, 7 yrs) | -18.6% | 3.7% | least demanding of 9 |
| Growth delivered (Del g) | +6.3% | +0.9% | 2nd highest of 9 |
| Hurdle (Req g minus delivered) | -24.9 pp | +2.7 pp | least demanding of 9 |
| ROIC minus cost of capital | -1.3 pp | -4.8 pp | 6th highest of 18 |
| EV / EBITDA | 3.1× | 10.4× | cheapest of 4 |
| Net debt / EBITDA | -3.2× | 1.9× | least indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tong Ren Tang Technologies 1666.HK | Hong Kong | $484M | -23% | -14% | 12% | 7.2× | -18.6% | +6.3% |
| Daewoong 003090.KS | South Korea | $485M | -29% | +5% | 11% | 4.1× | n/a | n/a |
| Shanghai Shenqi Pharmaceutical Investment Management 600613.SS | China | $483M | +9% | -4% | 3% | n/a | 13.4% | +1.4% |
| Alpha Teknova TKNO | United States | $482M | +104% | +12% | -35% | n/a | n/a | n/a |
| PKU Healthcare 000788.SZ | China | $489M | -11% | -49% | 5% | n/a | -2.6% | -5.6% |
| Electra Therapeutics ETRA | United States | $490M | n/a | n/a | n/a | n/a | n/a | n/a |
| CytomX Therapeutics CTMX | United States | $477M | -45% | -87% | -477% | n/a | n/a | n/a |
| Elixiron Immunotherapeutics (Cayman) 7871.TWO | Taiwan | $477M | +62% | +10,947% | -194% | n/a | n/a | n/a |
| Hainan Shuangcheng Pharmaceuticals 002693.SZ | China | $476M | -10% | +40% | 13% | n/a | 44.5% | +1.0% |
| Jiangsu Sihuan Bioengineering 000518.SZ | China | $476M | +7% | -17% | -28% | n/a | n/a | n/a |
| Pulike Biological Engineering 603566.SS | China | $475M | -22% | -9% | 5% | 21.0× | 5.7% | +3.3% |
| Shanghai MicuRx Pharmaceutical 688373.SS | China | $495M | -16% | +23% | -61% | n/a | n/a | n/a |
| SMS Pharmaceuticals SMSPHARMA.NS | India | $495M | +18% | +10% | 15% | 44.1× | n/a | n/a |
| YungShin Global 3705.TW | Taiwan | $474M | +7% | -8% | 15% | n/a | -4.9% | +0.7% |
| Cheng Du Sheng Nuo Biotec 688117.SS | China | $496M | -44% | +51% | 27% | 14.3× | 1.7% | +14.5% |
| Cachet Pharmaceutical 002462.SZ | China | $471M | -22% | -14% | 0% | n/a | -8.9% | -3.4% |
| Kexing Biopharm 688136.SS | China | $470M | -38% | -14% | -12% | 25.1× | n/a | n/a |
| Zhejiang Huakang Pharmaceutical 605077.SS | China | $470M | -39% | +35% | 4% | 11.1× | n/a | n/a |
| Xiangxue Pharmaceutical 300147.SZ | China | $502M | -49% | +3% | -39% | n/a | 47.1% | -12.3% |
| Harbin Medisan Pharmaceutical 002900.SZ | China | $467M | -13% | -5% | -29% | n/a | n/a | n/a |
| REGENXBIO RGNX | United States | $503M | -28% | +12% | -94% | n/a | n/a | n/a |