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Diversified pharma arm of the Fosun conglomerate, making drugs, vaccines and medical devices, with global investments.
Diversified pharma arm of the Fosun conglomerate, making drugs, vaccines and medical devices, with global investments.
This is the Hong Kong share class of the same group as the Shanghai listing. It combines drug manufacturing, medical devices and hospitals with a pharmaceutical distribution business that earns thin margins on large volume, and holds a large minority stake in Sinopharm. Its parent, the Fosun International investment conglomerate, controls it.
In one line: A diversified Chinese pharma holding company, part of the Fosun conglomerate.
Moat: narrow (scale, distribution). Broad hospital distribution plus Fosun-group capital backing for global licensing/investment deals.
Headquarters: Shanghai, China · Founded: 1994 · Employees: 40,603
Size Shanghai Fosun Pharmaceutical (Group) (2196.HK) is a Hong Kong Health Care company (Pharmaceuticals: Major) with a market value of $8.69B, the 179th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$17.22 on 6 Nov 2026.
Performance Over six months the shares fell 9.8%, against +14.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 9.9% over the last twelve months (peer median +23.9%); the operating margin is 6.2% (peer median 15.0%).
Valuation It trades at 10.4× forward earnings against a peer median of 31.5× (2nd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.8 points below its cost of capital (6.9% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$47.4B | HK$45.0B | HK$44.4B | HK$45.6B | HK$50.9B |
| Revenue growth | — | +1% | -3% | -11% | — |
| Gross profit | HK$21.9B | HK$22.4B | HK$21.2B | HK$21.7B | HK$24.0B |
| EBITDA | HK$7.29B | HK$6.86B | HK$6.33B | HK$4.52B | HK$6.55B |
| Net income | HK$3.79B | HK$3.66B | HK$3.00B | HK$2.65B | HK$4.35B |
| Free cash flow | HK$353M | HK$277M | -HK$229M | -HK$2.45B | -HK$971M |
| Capital expenditure | HK$5.41B | HK$4.82B | HK$4.78B | HK$5.90B | HK$6.86B |
| Total debt | n/a | HK$40.9B | HK$39.0B | HK$39.2B | HK$34.7B |
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 |
|---|---|---|---|---|---|---|
| Shanghai Fosun Pharmaceutical (Group) 2196.HK | $8.69B | -10% | +10% | 6% | 10.4× | 20.5% |
| Sbp 1177.HK | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% |
| Jiangsu Hengrui Pharmaceuticals 1276.HK | $48.8B | -20% | +11% | 27% | 32.1× | 10.2% |
| China Resources Pharmaceutical 3320.HK | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% |
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 | 2196.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.3% | +5.9% | 8th lowest of 21 |
| 6-month return | -9.8% | +14.2% | 5th lowest of 21 |
| Distance from 52-week high | -29.5% | -13.0% | 6th lowest of 21 |
| Revenue growth (TTM) | +9.9% | +23.9% | 7th lowest of 20 |
| Operating margin | 6.2% | 15.0% | 8th lowest of 19 |
| Forward P/E | 10.4× | 31.5× | 2nd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 20.5% | 9.9% | 5th most demanding of 12 |
| Growth delivered (Del g) | +5.8% | +9.4% | lowest of 12 |
| Hurdle (Req g minus delivered) | +14.7 pp | -5.0 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | -4.8 pp | +2.2 pp | 4th lowest of 17 |
| EV / EBITDA | 15.3× | 28.3× | 4th cheapest of 11 |
| Net debt / EBITDA | 3.7× | -0.1× | 3rd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Fosun Pharmaceutical (Group) 2196.HK | Hong Kong | $8.69B | -10% | +10% | 6% | 10.4× | 20.5% | +5.8% |
| Protagonist Therapeutics PTGX | United States | $8.54B | +33% | +35% | 21% | 48.4× | 47.5% | +10.0% |
| Shanghai Pharmaceuticals 2607.HK | Hong Kong | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% | +7.4% |
| ImmunityBio IBRX | United States | $9.15B | +1% | +193% | -152% | n/a | n/a | n/a |
| TG Therapeutics TGTX | United States | $9.16B | +40% | +76% | 17% | 30.9× | 50.3% | +426.7% |
| Asymchem Laboratories (Tianjin) 6821.HK | Hong Kong | $8.19B | +22% | +24% | 17% | 29.2× | n/a | n/a |
| ALK-abello A/S ALK-B.CO | Denmark | $8.14B | -5% | +17% | 27% | 35.7× | 7.6% | +12.6% |
| Madrigal Pharmaceuticals MDGL | United States | $9.28B | -22% | +93% | -11% | 79.5× | n/a | n/a |
| Kyowa Kirin 4151.T | Japan | $8.05B | +4% | +10% | 24% | 15.6× | -6.1% | +9.3% |
| H. Lundbeck A/S HLUN-A.CO | Denmark | $8.02B | +47% | +9% | 27% | n/a | -9.1% | +6.6% |
| Corcept Therapeutics CORT | United States | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% | +16.6% |
| Rhythm Pharmaceuticals RYTM | United States | $7.78B | +19% | +61% | -67% | n/a | n/a | n/a |
| Praxis Precision Medicines PRAX | United States | $7.75B | -16% | -100% | n/a | n/a | n/a | n/a |
| Glenmark Pharmaceuticals GLENMARK.NS | India | $7.73B | +9% | +33% | 20% | 32.0× | 20.0% | +9.4% |
| Alkermes Public ALKS | United States | $7.71B | +31% | +15% | 5% | n/a | 31.5% | +7.3% |
| Spyre Therapeutics SYRE | United States | $9.86B | +38% | n/a | n/a | n/a | n/a | n/a |
| Grifols GRF.MC | Spain | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% | +7.1% |
| Cytokinetics CYTK | United States | $7.46B | -30% | -21% | -1,046% | n/a | n/a | n/a |
| Akeso 9926.HK | Hong Kong | $10.2B | -38% | +42% | -25% | n/a | n/a | n/a |
| Kiniksa Pharmaceuticals International KNSA | United States | $7.37B | +60% | +58% | 14% | 61.7× | 9.9% | +45.5% |
| Bachem BANB.SW | Switzerland | $7.32B | +3% | +5% | 19% | 33.1× | n/a | n/a |