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Chinese vaccine maker known for its homegrown mRNA COVID-19 vaccine and other vaccines including HPV and pneumococcal.
Chinese vaccine maker known for its homegrown mRNA COVID-19 vaccine and other vaccines including HPV and pneumococcal.
Its main vaccines, the HPV and pneumococcal shots, sit mostly in China's self-paid market rather than the free national immunisation programme, so sales depend on parents choosing to buy. The mRNA COVID vaccine came from a joint effort with Abogen, in which Walvax is an investor.
In one line: A Chinese Moderna-adjacent vaccine developer.
Moat: narrow (IP / patents, regulatory licence). One of few Chinese developers with an in-house mRNA platform plus an established vaccine portfolio.
Headquarters: Kunming, China · Employees: 1,981
Size Walvax Biotechnology (300142.SZ) is a China Health Care company (Biotechnology) with a market value of $2.71B, the 945th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.45 on 6 Nov 2026.
Performance Over six months the shares fell 11.9%, against -3.9% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue fell 23.0% over the last twelve months (peer median +0.3%); the operating margin is 5.2% (peer median -19.5%).
Valuation It trades at 381.7× forward earnings against a peer median of 17.1× (most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is +35 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 5.7 points below its cost of capital (9.2% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.85B | CN¥2.41B | CN¥2.81B | CN¥4.09B | CN¥5.07B |
| Revenue growth | — | -14% | -31% | -19% | — |
| Gross profit | CN¥1.53B | CN¥1.66B | CN¥2.06B | CN¥3.41B | CN¥4.40B |
| EBITDA | n/a | CN¥482M | CN¥488M | CN¥987M | CN¥1.39B |
| Net income | CN¥21.8M | CN¥178M | CN¥142M | CN¥419M | CN¥729M |
| Free cash flow | CN¥391M | -CN¥15.2M | CN¥491M | CN¥195M | CN¥116M |
| Capital expenditure | CN¥376M | CN¥510M | CN¥550M | CN¥946M | CN¥1.09B |
| Total debt | CN¥1.41B | CN¥427M | CN¥512M | CN¥839M | CN¥522M |
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 |
|---|---|---|---|---|---|---|
| Walvax Biotechnology 300142.SZ | $2.71B | -12% | -23% | 5% | 381.7× | 31.3% |
| Chongqing Zhifei Biological Products 300122.SZ | $5.35B | -2% | -28% | -210% | n/a | -6.4% |
| Shenzhen Kangtai Biological Products 300601.SZ | $2.11B | -9% | -9% | 6% | 119.7× | 25.3% |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | $4.72B | -37% | +8% | -35% | n/a | n/a |
| CanSino Biologics 688185.SS | $1.73B | +21% | +30% | -4% | 245.0× | n/a |
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 | 300142.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.7% | -2.6% | 5th lowest of 21 |
| 6-month return | -11.9% | -3.9% | 9th lowest of 20 |
| Distance from 52-week high | -32.5% | -32.4% | 11th highest of 21 |
| Revenue growth (TTM) | -23.0% | +0.3% | 7th lowest of 18 |
| Operating margin | 5.2% | -19.5% | 7th highest of 17 |
| Forward P/E | 381.7× | 17.1× | most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 31.3% | -0.2% | 2nd most demanding of 5 |
| Growth delivered (Del g) | -3.8% | +50.3% | lowest of 5 |
| Hurdle (Req g minus delivered) | +35.1 pp | -36.2 pp | most demanding of 5 |
| ROIC minus cost of capital | -5.7 pp | -6.2 pp | 7th highest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Walvax Biotechnology 300142.SZ | China | $2.71B | -12% | -23% | 5% | 381.7× | 31.3% | -3.8% |
| Beam Therapeutics BEAM | United States | $2.73B | -18% | +163% | -268% | n/a | n/a | n/a |
| Hebei Changshan Biochemical Pharmaceutical 300255.SZ | China | $2.68B | -52% | 0% | -25% | n/a | n/a | n/a |
| Xiamen Amoytop Biotech 688278.SS | China | $2.76B | -23% | +18% | 27% | 16.2× | 0.5% | +36.0% |
| Xeris Biopharma XERS | United States | $2.77B | +133% | +36% | 11% | 67.9× | 33.3% | +70.2% |
| Xencor XNCR | United States | $2.66B | +178% | -29% | -206% | n/a | n/a | n/a |
| Arcus Biosciences RCUS | United States | $2.59B | -28% | -55% | -415% | n/a | n/a | n/a |
| ADMA Biologics ADMA | United States | $2.85B | +56% | +8% | 42% | 15.7× | -0.8% | +64.6% |
| Sunshine Lake Pharma 6887.HK | Hong Kong | $2.85B | -9% | +20% | -3% | n/a | n/a | n/a |
| Evopoint Biosciences 688837.SS | China | $2.58B | n/a | n/a | n/a | n/a | n/a | n/a |
| Palvella Therapeutics PVLA | United States | $2.53B | +45% | -100% | n/a | n/a | n/a | n/a |
| Rubicon Research RUBICON.NS | India | $2.91B | +74% | +37% | 21% | 77.2× | n/a | n/a |
| Zai Lab 9688.HK | Hong Kong | $2.92B | +13% | +5% | -59% | n/a | n/a | n/a |
| Bavarian Nordic A/S BAVA.CO | Denmark | $2.93B | +27% | -3% | 16% | 17.1× | -2.0% | +27.4% |
| MBX Biosciences MBX | United States | $2.47B | +25% | n/a | n/a | n/a | n/a | n/a |
| Caliway Biopharmaceuticals 6919.TW | Taiwan | $3.01B | -37% | -54% | -6,983% | n/a | n/a | n/a |
| Pharvaris PHVS | United States | $2.41B | +14% | n/a | n/a | n/a | n/a | n/a |
| HLB 028300.KS | South Korea | $3.06B | -49% | +29% | -96% | n/a | n/a | n/a |
| BGI Genomics 300676.SZ | China | $2.39B | -4% | 0% | -14% | 142.2× | n/a | n/a |
| Celldex Therapeutics CLDX | United States | $2.35B | -12% | -97% | -206,220% | n/a | n/a | n/a |
| Zealand Pharma A/S ZEAL.CO | Denmark | $2.32B | -32% | -49% | 51% | 8.8× | n/a | n/a |