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Chinese CRO/CDMO supplying fine chemical building blocks and custom synthesis for drug discovery.
Chinese CRO/CDMO supplying fine chemical building blocks and custom synthesis for drug discovery.
Sells a catalog of many small-molecule building blocks in small quantities to drug-discovery labs, then follows promising ones into larger custom-made quantities as drugs advance through trials, giving it work from discovery through to commercial supply. Overseas customers account for the bulk of sales.
In one line: A China-based pharma building-blocks CDMO.
Moat: narrow (scale, customer qualification). Broad building-block catalog and qualified GMP capacity are costly to replicate.
Headquarters: Nanjing, China · Employees: 2,593
Size PharmaBlock Sciences (Nanjing) (300725.SZ) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $1.61B, the 1535th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥46.20 on 6 Nov 2026.
Performance Over six months the shares gained 15.9%, against -11.4% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 10.6% over the last twelve months (peer median +3.7%); the operating margin is 10.7% (peer median 9.7%).
Valuation It trades at 44.6× forward earnings against a peer median of 19.4× (3rd most expensive of 18).
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 +14%, 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 3.6 points below its cost of capital (11.6% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.19B | CN¥1.96B | CN¥1.68B | CN¥1.72B | CN¥1.58B |
| Revenue growth | — | +17% | -2% | +9% | — |
| Gross profit | CN¥801M | CN¥566M | CN¥598M | CN¥689M | CN¥675M |
| EBITDA | n/a | CN¥332M | CN¥357M | CN¥381M | CN¥375M |
| Net income | CN¥222M | CN¥184M | CN¥220M | CN¥197M | CN¥314M |
| Free cash flow | CN¥46.9M | CN¥571M | CN¥231M | -CN¥41.1M | -CN¥291M |
| Capital expenditure | CN¥376M | CN¥140M | CN¥118M | CN¥316M | CN¥558M |
| Total debt | CN¥95.6M | CN¥181M | CN¥1.46B | CN¥1.83B | CN¥1.71B |
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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 | 300725.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.7% | -0.7% | 7th lowest of 21 |
| 6-month return | +15.9% | -11.4% | 3rd highest of 21 |
| Distance from 52-week high | -19.7% | -36.5% | 6th highest of 21 |
| Revenue growth (TTM) | +10.6% | +3.7% | 8th highest of 21 |
| Operating margin | 10.7% | 9.7% | 11th highest of 21 |
| Forward P/E | 44.6× | 19.4× | 3rd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 27.8% | 3.9% | most demanding of 16 |
| Growth delivered (Del g) | +14.1% | +7.3% | 7th highest of 16 |
| Hurdle (Req g minus delivered) | +13.7 pp | -9.0 pp | 3rd most demanding of 16 |
| ROIC minus cost of capital | -3.6 pp | +1.3 pp | 6th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PharmaBlock Sciences (Nanjing) 300725.SZ | China | $1.61B | +16% | +11% | 11% | 44.6× | 27.8% | +14.1% |
| eClerx Services ECLERX.NS | India | $1.59B | 0% | +22% | 20% | 19.4× | 17.2% | +21.4% |
| Healthcare Services HCSG | United States | $1.64B | +5% | +4% | 6% | 20.6× | 3.4% | +0.9% |
| MEITEC 9744.T | Japan | $1.57B | +3% | +2% | 14% | 18.7× | -4.6% | +7.3% |
| Kruk KRU.WA | Poland | $1.65B | -22% | +8% | 77% | 6.9× | -2.1% | +16.8% |
| Offcn Education Technology 002607.SZ | China | $1.56B | -36% | -2% | 13% | 38.8× | 17.7% | -27.6% |
| AEM AWX.SI | Singapore | $1.55B | -18% | +15% | 11% | 23.4× | 15.4% | -5.1% |
| Guangdong Feinan Resources Recycling 301500.SZ | China | $1.68B | -31% | +42% | 7% | n/a | n/a | n/a |
| Yangzhou Tinfulong 603406.SS | China | $1.53B | -25% | -4% | 12% | n/a | 7.5% | +10.6% |
| Moltiply MOL.MI | Italy | $1.53B | +6% | +32% | 15% | 14.6× | 10.8% | +21.0% |
| Visual China 000681.SZ | China | $1.71B | -25% | -9% | 4% | 44.0× | n/a | n/a |
| GRG Metrology & Test 002967.SZ | China | $1.72B | -16% | +13% | 13% | 22.7× | 3.9% | +14.4% |
| AFRY AFRY.ST | Sweden | $1.50B | +17% | -4% | 7% | 12.7× | -2.2% | +6.3% |
| Foxtron Vehicle Technologies 2258.TW | Taiwan | $1.50B | +1% | -50% | -132% | n/a | n/a | n/a |
| Clarivate CLVT | United States | $1.50B | -16% | -9% | 8% | 3.8× | 13.4% | +14.4% |
| Ipsos IPS.PA | France | $1.74B | -3% | +3% | 12% | 7.0× | -10.8% | +6.6% |
| Shanghai Foreign Service 600662.SS | China | $1.49B | -14% | +1% | 2% | 13.8× | -20.6% | +1.9% |
| Shenzhen Ampron Technology 301413.SZ | China | $1.48B | -7% | +11% | 2% | 423.6× | n/a | n/a |
| Taiwan Secom 9917.TW | Taiwan | $1.47B | -8% | +3% | 16% | 14.2× | -2.3% | +6.7% |
| Shanghai Medicilon 688202.SS | China | $1.47B | +18% | +42% | -2% | 91.8× | n/a | n/a |
| Suzhou Recodeal Interconnect System 688800.SS | China | $1.47B | -55% | +5% | 9% | 28.7× | 26.1% | +38.9% |