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World's largest maker of disposable nitrile and latex examination gloves, also producing picture-frame mouldings.
World's largest maker of disposable nitrile and latex examination gloves, also producing picture-frame mouldings.
Sells gloves in volume to distributors and brand owners, so price follows glove capacity and demand, which spiked and then collapsed around the pandemic. Most output is exported, with the US a big market, so US tariffs matter. Its second product, plastic picture-frame moulding, is an older business separate from healthcare.
In one line: A Chinese Kimberly-Clark/Top Glove for exam gloves.
Moat: narrow (scale, cost advantage). Very large manufacturing scale gives a cost edge in a commodity glove market.
Headquarters: Yantai, Shandong, China · Employees: 12,941
Size Intco Medical Technology (300677.SZ) is a China Health Care company (Medical Specialties) with a market value of $4.40B, the 584th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥45.37 on 6 Nov 2026.
Performance Over six months the shares fell 20.4%, against +28.3% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 33.2% over the last twelve months (peer median +4.3%); the operating margin is 19.5% (peer median 13.1%).
Valuation It trades at 14.7× forward earnings against a peer median of 20.2× (cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is -6%, so the hurdle is +2 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 3.7 points above its cost of capital (5.0% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥13.1B | CN¥9.88B | CN¥9.51B | CN¥6.85B | CN¥6.56B |
| Revenue growth | — | +4% | +39% | +4% | — |
| Gross profit | CN¥4.92B | CN¥2.10B | CN¥2.01B | CN¥707M | CN¥672M |
| EBITDA | n/a | CN¥1.84B | CN¥1.75B | CN¥553M | CN¥556M |
| Net income | CN¥298M | CN¥1.01B | CN¥1.47B | CN¥383M | CN¥629M |
| Free cash flow | CN¥2.40B | -CN¥282M | -CN¥432M | -CN¥852M | -CN¥574M |
| Capital expenditure | CN¥1.51B | CN¥2.57B | CN¥1.79B | CN¥1.44B | CN¥1.72B |
| Total debt | CN¥17.8B | CN¥17.6B | CN¥13.4B | CN¥7.37B | CN¥1.70B |
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 |
|---|---|---|---|---|---|---|
| Intco Medical Technology 300677.SZ | $4.40B | -20% | +33% | 20% | 14.7× | -4.7% |
| Blue Sail Medical 002382.SZ | $861M | -24% | +23% | 7% | 11.8× | -6.5% |
| Ansell ANN.AX | $4.42B | +79% | +2% | 15% | 19.2× | 10.3% |
| Riverstone AP4.SI | $824M | -13% | -4% | 25% | 15.5× | 2.1% |
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 | 300677.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.9% | +7.9% | 7th lowest of 21 |
| 6-month return | -20.4% | +28.3% | 3rd lowest of 21 |
| Distance from 52-week high | -33.7% | -15.3% | 5th lowest of 21 |
| Revenue growth (TTM) | +33.2% | +4.3% | 3rd highest of 20 |
| Operating margin | 19.5% | 13.1% | 4th highest of 20 |
| Forward P/E | 14.7× | 20.2× | cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -4.7% | 10.9% | 3rd least demanding of 16 |
| Growth delivered (Del g) | -6.4% | +8.2% | 2nd lowest of 16 |
| Hurdle (Req g minus delivered) | +1.7 pp | +1.7 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | +3.7 pp | +0.8 pp | 4th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Intco Medical Technology 300677.SZ | China | $4.40B | -20% | +33% | 20% | 14.7× | -4.7% | -6.4% |
| ICU Medical ICUI | United States | $4.30B | +36% | -9% | 7% | 19.5× | 22.1% | +11.9% |
| Integer ITGR | United States | $4.30B | +44% | 0% | 9% | 18.8× | 19.6% | +11.5% |
| Jiangsu Yuyue Medical Equipment & Supply 002223.SZ | China | $4.26B | -1% | -1% | 13% | 20.4× | 5.1% | +3.4% |
| Sotera Health SHC | United States | $4.57B | +1% | +7% | 37% | 15.4× | 13.7% | +7.3% |
| CareDx CDNA | United States | $4.13B | +260% | +39% | 1% | 53.2× | n/a | n/a |
| Fielmann FIE.DE | Germany | $4.12B | +3% | +3% | 14% | 17.8× | -5.3% | +11.3% |
| MiniMed MMED | United States | $4.70B | +44% | +14% | 14% | 25.5× | n/a | n/a |
| Tecan TECN.SW | Switzerland | $4.05B | +91% | -4% | 1% | 40.1× | 46.9% | +3.8% |
| Envista NVST | United States | $4.04B | +4% | +12% | 11% | 15.6× | 6.8% | +7.1% |
| LivaNova LIVN | United States | $4.96B | +25% | +12% | 13% | 19.9× | 11.5% | +8.2% |
| Pulse Biosciences PLSE | United States | $3.87B | +179% | n/a | -7,008% | n/a | n/a | n/a |
| DiaSorin DIA.MI | Italy | $5.00B | +19% | -3% | 24% | 20.6× | 4.1% | +6.3% |
| Stevanato STVN | United States | $3.70B | -26% | +12% | 18% | 19.3× | 10.6% | +12.1% |
| Merit Medical Systems MMSI | United States | $5.23B | +42% | +9% | 14% | 19.4× | 12.2% | +9.5% |
| SCHOTT Pharma AG & Co. KGaA 1SXP.DE | Germany | $3.67B | +31% | +4% | 15% | 22.1× | 11.7% | +11.0% |
| Shandong Weigao Blood Purification Products 603014.SS | China | $3.63B | -3% | +4% | n/a | 20.4× | -1.2% | +8.1% |
| Andon Health 002432.SZ | China | $3.60B | -29% | -30% | -26% | 15.0× | -7.7% | -7.4% |
| GRAIL GRAL | United States | $5.42B | +67% | +23% | -323% | n/a | n/a | n/a |
| Haemonetics HAE | United States | $5.46B | +118% | 0% | 18% | 21.6× | 10.9% | +8.9% |
| iRay Technology 688301.SS | China | $3.54B | -8% | +58% | 24% | 27.5× | n/a | n/a |