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Makes heparin products, from crude heparin and heparin-sodium raw material to enoxaparin and other low-molecular-weight heparin injections.
Makes heparin products, from crude heparin and heparin-sodium raw material to enoxaparin and other low-molecular-weight heparin injections.
Sells heparin, an anticoagulant drawn from pig intestines, in raw and finished forms: crude heparin, pharmaceutical-grade active ingredient, and low-molecular-weight heparin injections such as enoxaparin and dalteparin. Raw material and injections are the main income sources, with exports to Europe and the US a stated growth push and hospital sales set by China's bulk-purchase tenders.
Moat: narrow (regulatory licence, customer qualification). Holds several LMWH approvals and EU GMP certification for enoxaparin and heparin raw materials.
Headquarters: Shijiazhuang, China · Founded: 2000 · Employees: 1,194
Size Hebei Changshan Biochemical Pharmaceutical (300255.SZ) is a China Health Care company (Biotechnology) with a market value of $2.68B, the 964th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.76 on 6 Nov 2026.
Performance Over six months the shares fell 52.2%, against -3.9% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median +0.3%); the operating margin is -25.4% (peer median -8.1%).
Valuation It trades at 21.9× enterprise value to sales against a peer median of 10.3× (6th most expensive of 18).
Capital Return on invested capital runs 12.5 points below its cost of capital (8.8% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥930M | CN¥874M | CN¥1.03B | CN¥1.40B | CN¥2.32B |
| Revenue growth | — | -15% | -26% | -40% | — |
| Gross profit | CN¥221M | CN¥104M | CN¥137M | CN¥277M | CN¥1.00B |
| EBITDA | n/a | -CN¥192M | -CN¥128M | -CN¥1.08B | CN¥162M |
| Net income | -CN¥351M | -CN¥358M | -CN¥249M | -CN¥1.24B | CN¥17.5M |
| Free cash flow | -CN¥181M | -CN¥71.7M | -CN¥191M | -CN¥206M | -CN¥428M |
| Capital expenditure | CN¥131M | CN¥123M | CN¥240M | CN¥239M | CN¥431M |
| Total debt | CN¥2.61B | CN¥2.63B | CN¥2.58B | CN¥2.37B | CN¥2.53B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Hebei Changshan Biochemical Pharmaceutical 300255.SZ | $2.68B | -52% | 0% | -25% | 21.9× | n/a |
| Shenzhen Hepalink Pharmaceutical 002399.SZ | $1.88B | -13% | -6% | 8% | 2.2× | 0.1% |
| Nanjing King-friend Biochemical Pharmaceutical 603707.SS | $2.15B | -3% | +9% | 14% | 3.4× | 6.1% |
| Sanofi SAN.PA | $113B | +14% | +15% | 27% | 2.6× | -5.4% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 3.4× | -4.3% |
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 | 300255.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.7% | -2.6% | 8th lowest of 21 |
| 6-month return | -52.2% | -3.9% | lowest of 20 |
| Distance from 52-week high | -72.4% | -31.8% | lowest of 21 |
| Revenue growth (TTM) | +0.2% | +0.3% | 9th lowest of 18 |
| Operating margin | -25.4% | -8.1% | 8th lowest of 17 |
| EV / Sales | 21.9× | 10.3× | 6th most expensive of 18 |
| ROIC minus cost of capital | -12.5 pp | -5.7 pp | 5th lowest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hebei Changshan Biochemical Pharmaceutical 300255.SZ | China | $2.68B | -52% | 0% | -25% | 21.9× | n/a | n/a |
| Xencor XNCR | United States | $2.66B | +178% | -29% | -206% | 22.6× | n/a | n/a |
| Walvax Biotechnology 300142.SZ | China | $2.71B | -12% | -23% | 5% | 10.3× | 31.3% | -3.8% |
| Beam Therapeutics BEAM | United States | $2.73B | -18% | +163% | -268% | 13.2× | n/a | n/a |
| Xiamen Amoytop Biotech 688278.SS | China | $2.76B | -23% | +18% | 27% | 4.7× | 0.5% | +36.0% |
| Arcus Biosciences RCUS | United States | $2.59B | -28% | -55% | -415% | 17.1× | n/a | n/a |
| Xeris Biopharma XERS | United States | $2.77B | +133% | +36% | 11% | 8.8× | 33.3% | +70.2% |
| Evopoint Biosciences 688837.SS | China | $2.58B | n/a | n/a | n/a | 67.9× | n/a | n/a |
| Palvella Therapeutics PVLA | United States | $2.53B | +45% | -100% | n/a | n/a | n/a | n/a |
| ADMA Biologics ADMA | United States | $2.85B | +56% | +8% | 42% | 5.7× | -0.8% | +64.6% |
| Sunshine Lake Pharma 6887.HK | Hong Kong | $2.85B | -9% | +20% | -3% | 6.1× | n/a | n/a |
| MBX Biosciences MBX | United States | $2.47B | +25% | n/a | n/a | n/a | n/a | n/a |
| Rubicon Research RUBICON.NS | India | $2.91B | +74% | +37% | 21% | 14.2× | n/a | n/a |
| Zai Lab 9688.HK | Hong Kong | $2.92B | +13% | +5% | -59% | 5.5× | n/a | n/a |
| Bavarian Nordic A/S BAVA.CO | Denmark | $2.93B | +27% | -3% | 16% | 2.8× | -2.0% | +27.4% |
| Pharvaris PHVS | United States | $2.41B | +14% | n/a | n/a | n/a | n/a | n/a |
| BGI Genomics 300676.SZ | China | $2.39B | -4% | 0% | -14% | 3.7× | n/a | n/a |
| Caliway Biopharmaceuticals 6919.TW | Taiwan | $3.01B | -37% | -54% | -6,983% | 6,237.3× | n/a | n/a |
| Celldex Therapeutics CLDX | United States | $2.35B | -12% | -97% | -206,220% | 10,375.3× | n/a | n/a |
| HLB 028300.KS | South Korea | $3.06B | -49% | +29% | -96% | 45.9× | n/a | n/a |
| Zealand Pharma A/S ZEAL.CO | Denmark | $2.32B | -32% | -49% | 51% | 0.3× | n/a | n/a |