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Major Chinese cardiovascular device maker selling coronary stents, heart valves, pacemakers and diagnostic reagents.
Major Chinese cardiovascular device maker selling coronary stents, heart valves, pacemakers and diagnostic reagents.
National bulk purchasing of coronary stents, started in 2020, forced prices sharply lower, so the company has been leaning more on heart valves, pacemakers and other products. It sells through hospitals via distributors, with hospital tenders deciding volume.
In one line: A Chinese Abbott Cardiovascular/Medtronic hybrid.
Moat: narrow (IP / patents, regulatory licence, installed base). Device approvals, physician training and installed base favor an established incumbent.
Headquarters: Beijing, China · Founded: 1999 · Employees: 8,689
Size Lepu Medical Technology (Beijing) (300003.SZ) is a China Health Care company (Medical Specialties) with a market value of $3.42B, the 757th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.61 on 6 Nov 2026.
Performance Over six months the shares fell 12.1%, against +12.0% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 1.4% over the last twelve months (peer median +6.2%); the operating margin is 12.6% (peer median 9.5%).
Valuation It trades at 26.3× forward earnings against a peer median of 26.8× (9th cheapest of 18).
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 -4%, so the hurdle is +14 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 2.1 points below its cost of capital (6.7% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.17B | CN¥6.43B | CN¥6.05B | CN¥7.92B | CN¥10.5B |
| Revenue growth | — | +6% | -24% | -25% | — |
| Gross profit | CN¥4.04B | CN¥3.75B | CN¥3.31B | CN¥4.74B | CN¥6.24B |
| EBITDA | n/a | CN¥1.95B | CN¥1.07B | CN¥2.17B | CN¥3.27B |
| Net income | CN¥658M | CN¥962M | CN¥247M | CN¥1.26B | CN¥2.20B |
| Free cash flow | CN¥716M | CN¥1.06B | CN¥156M | CN¥319M | CN¥1.91B |
| Capital expenditure | CN¥882M | CN¥643M | CN¥659M | CN¥845M | CN¥905M |
| Total debt | CN¥6.37B | CN¥6.52B | CN¥5.90B | CN¥5.12B | CN¥4.57B |
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 |
|---|---|---|---|---|---|---|
| Lepu Medical Technology (Beijing) 300003.SZ | $3.42B | -12% | -1% | 13% | 26.3× | 9.6% |
| Abbott Laboratories ABT | $190B | +30% | +10% | 14% | 18.8× | 5.6% |
| Medtronic MDT | $130B | +35% | +10% | 20% | 16.9× | 8.6% |
| MicroPort Scientific 0853.HK | n/a | -45% | n/a | n/a | n/a | n/a |
| Boston Scientific BSX | $62.0B | -21% | +9% | 21% | 13.8× | 5.0% |
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 | 300003.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.0% | +7.3% | 10th highest of 21 |
| 6-month return | -12.1% | +12.0% | 6th lowest of 21 |
| Distance from 52-week high | -41.6% | -26.9% | 7th lowest of 21 |
| Revenue growth (TTM) | -1.4% | +6.2% | 3rd lowest of 19 |
| Operating margin | 12.6% | 9.5% | 7th highest of 19 |
| Forward P/E | 26.3× | 26.8× | 9th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 9.6% | 12.1% | 7th least demanding of 17 |
| Growth delivered (Del g) | -4.2% | +8.5% | 3rd lowest of 17 |
| Hurdle (Req g minus delivered) | +13.8 pp | +0.2 pp | 6th most demanding of 17 |
| ROIC minus cost of capital | -2.1 pp | -1.6 pp | 9th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lepu Medical Technology (Beijing) 300003.SZ | China | $3.42B | -12% | -1% | 13% | 26.3× | 9.6% | -4.2% |
| MGI Tech 688114.SS | China | $3.42B | +9% | +2% | -7% | n/a | 46.5% | -0.1% |
| Ambu A/S AMBU-B.CO | Denmark | $3.42B | +40% | +5% | 11% | 28.1× | 12.6% | +11.1% |
| Autobio Diagnostics 603658.SS | China | $3.41B | +19% | +3% | 25% | 20.6× | -0.3% | +7.2% |
| Ottobock SE & Co. KGaA OBCK.DE | Germany | $3.36B | -25% | +5% | 15% | 15.4× | 3.5% | +8.0% |
| Carl Zeiss Meditec AFX.DE | Germany | $3.51B | +40% | 0% | 8% | 26.8× | 13.7% | +10.8% |
| Zhende Medical 603301.SS | China | $3.33B | -8% | +8% | 7% | 43.5× | 23.2% | -16.1% |
| Sumitomo Bakelite 4203.T | Japan | $3.31B | +15% | +15% | 13% | 14.9× | 6.8% | +8.9% |
| iRay Technology 688301.SS | China | $3.54B | -8% | +58% | 24% | 27.5× | n/a | n/a |
| Celcuity CELC | United States | $3.27B | -49% | n/a | n/a | n/a | n/a | n/a |
| Andon Health 002432.SZ | China | $3.60B | -29% | -30% | -26% | 15.0× | -7.7% | -7.4% |
| Shandong Weigao Blood Purification Products 603014.SS | China | $3.63B | -3% | +4% | n/a | 20.4× | -1.2% | +8.1% |
| SCHOTT Pharma AG & Co. KGaA 1SXP.DE | Germany | $3.67B | +31% | +4% | 15% | 22.1× | 11.7% | +11.0% |
| Stevanato STVN | United States | $3.70B | -26% | +12% | 18% | 19.3× | 10.6% | +12.1% |
| TransMedics TMDX | United States | $3.06B | +30% | +26% | 12% | 48.5× | 35.6% | +88.2% |
| Pulse Biosciences PLSE | United States | $3.87B | +179% | n/a | -7,008% | n/a | n/a | n/a |
| Axogen AXGN | United States | $2.99B | +19% | +24% | -5% | 76.5× | 48.8% | +14.9% |
| AtriCure ATRC | United States | $2.98B | +123% | +14% | 3% | 220.7× | 55.7% | +20.9% |
| iRhythm IRTC | United States | $2.97B | -25% | +26% | 1% | 182.6× | n/a | n/a |
| Envista NVST | United States | $4.04B | +4% | +12% | 11% | 15.6× | 6.8% | +7.1% |
| Tecan TECN.SW | Switzerland | $4.05B | +91% | -4% | 1% | 40.1× | 46.9% | +3.8% |