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Chinese contract research organization (CRO) running clinical trials for pharma and biotech clients globally.
Chinese contract research organization (CRO) running clinical trials for pharma and biotech clients globally.
Is paid by drug developers for running trials, so revenue follows the number and size of studies it wins and its backlog of signed work. Beyond fees, it holds minority stakes in biotech companies, whose valuation changes can swing reported earnings.
In one line: China's IQVIA/ICON plc.
Moat: narrow (scale, regulatory licence, installed base). Large domestic trial-site network and regulatory experience are hard for smaller CROs to replicate.
Headquarters: Hangzhou, China · Founded: 2004 · Employees: 11,130
Size Hangzhou Tigermed Consulting (300347.SZ) is a China Health Care company (Biotechnology) with a market value of $5.58B, the 451st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥51.61 on 6 Nov 2026.
Performance Over six months the shares fell 6.5%, against +2.4% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 15.8% over the last twelve months (peer median +8.3%); the operating margin is 9.5% (peer median -14.1%).
Valuation It trades at 110.0× forward earnings against a peer median of 40.9× (most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +12 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 8.0 points below its cost of capital (11.0% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥7.60B | CN¥6.81B | CN¥6.58B | CN¥7.36B | CN¥7.07B |
| Revenue growth | — | +4% | -11% | +4% | — |
| Gross profit | CN¥2.17B | CN¥1.72B | CN¥2.07B | CN¥2.70B | CN¥2.68B |
| EBITDA | n/a | CN¥973M | CN¥1.37B | CN¥2.03B | CN¥2.04B |
| Net income | -CN¥405M | CN¥888M | CN¥405M | CN¥2.02B | CN¥2.01B |
| Free cash flow | CN¥1.79B | CN¥1.54B | CN¥740M | CN¥880M | CN¥915M |
| Capital expenditure | CN¥172M | CN¥214M | CN¥357M | CN¥314M | CN¥449M |
| Total debt | CN¥2.22B | CN¥1.68B | CN¥2.83B | CN¥3.35B | CN¥2.74B |
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 |
|---|---|---|---|---|---|---|
| Hangzhou Tigermed Consulting 300347.SZ | $5.58B | -6% | +16% | 10% | 110.0× | 28.4% |
| Wuxi Apptec 2359.HK | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% |
| Iqvia IQV | $44.8B | +52% | +9% | 14% | 19.7× | 17.3% |
| ICON ICLR | $15.3B | +64% | +1% | 10% | 18.2× | 16.3% |
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 | 300347.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | +3.8% | 5th lowest of 21 |
| 6-month return | -6.5% | +2.4% | 8th lowest of 21 |
| Distance from 52-week high | -23.9% | -27.3% | 9th highest of 21 |
| Revenue growth (TTM) | +15.8% | +8.3% | 7th highest of 16 |
| Operating margin | 9.5% | -14.1% | 5th highest of 16 |
| Forward P/E | 110.0× | 40.9× | most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 28.4% | 32.2% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +16.4% | +16.6% | 3rd lowest of 6 |
| Hurdle (Req g minus delivered) | +11.9 pp | +10.5 pp | 3rd most demanding of 6 |
| ROIC minus cost of capital | -8.0 pp | -10.6 pp | 5th highest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Tigermed Consulting 300347.SZ | China | $5.58B | -6% | +16% | 10% | 110.0× | 28.4% | +16.4% |
| Cogent Biosciences COGT | United States | $5.49B | -9% | n/a | n/a | n/a | n/a | n/a |
| Anthem Biosciences ANTHEM.NS | India | $5.46B | +17% | -1% | 35% | 69.9× | 36.7% | +26.2% |
| Scholar Rock SRRK | United States | $5.72B | -3% | n/a | n/a | n/a | n/a | n/a |
| Chongqing Zhifei Biological Products 300122.SZ | China | $5.35B | -2% | -28% | -210% | n/a | -6.4% | -10.0% |
| Kodiak Sciences KOD | United States | $6.24B | +142% | n/a | n/a | n/a | n/a | n/a |
| Immunovant IMVT | United States | $6.31B | +5% | n/a | n/a | n/a | n/a | n/a |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 13.7× | n/a | n/a |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | n/a | n/a | n/a | n/a |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 17% | 13.7× | n/a | n/a |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -2,059% | n/a | n/a | n/a |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | n/a | n/a | n/a |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -35% | n/a | n/a | n/a |
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -4,056% | n/a | n/a | n/a |
| Joinn Laboratories (China) 603127.SS | China | $4.58B | +15% | +12% | -4% | 40.9× | n/a | n/a |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -1% | 30.2× | 32.2% | +7.1% |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 75.5× | n/a | n/a |
| Adaptive Biotechnologies ADPT | United States | $4.47B | +103% | +50% | -12% | n/a | n/a | n/a |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 86.1× | 18.7% | +85.4% |
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | n/a | n/a | n/a |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | n/a | 41.8% | +16.6% |