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Maker of chemiluminescence immunoassay analyzers and reagents used for in-vitro diagnostic testing in hospitals and labs.
Maker of chemiluminescence immunoassay analyzers and reagents used for in-vitro diagnostic testing in hospitals and labs.
Places analyzers with hospitals and labs, then earns repeatedly from the reagents they must buy to run tests on them, a razor-and-blade model. Sales go through distributors in China and abroad, and overseas markets account for a large share.
In one line: A Chinese Abbott Diagnostics/DiaSorin for immunoassay testing.
Moat: narrow (installed base, switching costs, process know-how). Analyzer-reagent razor/razorblade model locks in labs once an instrument is placed.
Headquarters: Shenzhen, China · Founded: 1998 · Employees: 2,785
Size Shenzhen New Industries Biomedical Engineering (300832.SZ) is a China Health Care company (Medical Specialties) with a market value of $7.11B, the 350th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥60.42 on 6 Nov 2026.
Performance Over six months the shares gained 25.2%, against +27.7% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 6.6% over the last twelve months (peer median +3.4%); the operating margin is 42.7% (peer median 13.8%).
Valuation It trades at 25.5× forward earnings against a peer median of 20.6× (8th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.85B | CN¥4.53B | CN¥4.53B | CN¥3.92B | CN¥3.04B |
| Revenue growth | — | 0% | +15% | +29% | — |
| Gross profit | CN¥3.52B | CN¥2.99B | CN¥3.13B | CN¥2.75B | CN¥2.06B |
| EBITDA | n/a | CN¥1.99B | CN¥2.15B | CN¥1.92B | CN¥1.46B |
| Net income | CN¥1.81B | CN¥1.62B | CN¥1.83B | CN¥1.65B | CN¥1.33B |
| Free cash flow | CN¥1.74B | CN¥1.24B | CN¥1.01B | CN¥1.18B | CN¥635M |
| Capital expenditure | CN¥322M | CN¥311M | CN¥439M | CN¥322M | CN¥403M |
| Total debt | CN¥2.63M | CN¥3.68M | CN¥4.10M | CN¥5.18M | CN¥18.5M |
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 |
|---|---|---|---|---|---|---|
| Shenzhen New Industries Biomedical Engineering 300832.SZ | $7.11B | +25% | +7% | 43% | 25.5× | 2.1% |
| Abbott Laboratories ABT | $190B | +30% | +10% | 14% | 18.8× | 5.6% |
| DiaSorin DIA.MI | $5.00B | +19% | -3% | 24% | 20.6× | 4.1% |
| Shenzhen Mindray Bio-Medical Electronics 300760.SZ | $33.4B | +9% | +5% | 28% | 27.1× | 0.9% |
| Roche RO.SW | $385B | +22% | -1% | 31% | 19.6× | 0.9% |
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 | 300832.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +23.6% | +9.1% | highest of 21 |
| 6-month return | +25.2% | +27.7% | 10th lowest of 21 |
| Distance from 52-week high | -10.1% | -8.6% | 9th lowest of 21 |
| Revenue growth (TTM) | +6.6% | +3.4% | 9th highest of 21 |
| Operating margin | 42.7% | 13.8% | highest of 21 |
| Forward P/E | 25.5× | 20.6× | 8th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 2.1% | 11.0% | 2nd least demanding of 20 |
| Growth delivered (Del g) | +15.7% | +9.5% | 6th highest of 20 |
| Hurdle (Req g minus delivered) | -13.6 pp | +0.9 pp | 5th least demanding of 20 |
| ROIC minus cost of capital | +20.3 pp | +2.8 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen New Industries Biomedical Engineering 300832.SZ | China | $7.11B | +25% | +7% | 43% | 25.5× | 2.1% | +15.7% |
| Cochlear COH.AX | Australia | $7.05B | +55% | -1% | 13% | 29.4× | 24.1% | +9.3% |
| Bausch + Lomb BLCO.TO | Canada | $7.20B | +31% | +11% | 9% | 17.3× | 11.0% | +10.0% |
| Lantheus LNTH | United States | $6.57B | +8% | +2% | 19% | 17.5× | -0.5% | +35.3% |
| Getinge GETI-B.ST | Sweden | $7.73B | +45% | -4% | 14% | 21.0× | 4.7% | +3.2% |
| Shimadzu 7701.T | Japan | $7.79B | +15% | +6% | 13% | 19.5× | 6.3% | +7.3% |
| ConvaTec CTEC.L | United Kingdom | $6.44B | +22% | +2% | 16% | 16.7× | 15.6% | +4.6% |
| Sysmex 6869.T | Japan | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% | +10.4% |
| Teleflex TFX | United States | $6.39B | +13% | -14% | 11% | 16.8× | 17.8% | -4.7% |
| Ypsomed YPSN.SW | Switzerland | $6.35B | +30% | -2% | 25% | 30.1× | 11.5% | +12.6% |
| Asahi Intecc 7747.T | Japan | $6.28B | +13% | +21% | 31% | 26.0× | 13.6% | +18.8% |
| APT Medical 688617.SS | China | $5.95B | +20% | +28% | 37% | 38.5× | 8.7% | +40.1% |
| Haemonetics HAE | United States | $5.46B | +118% | 0% | 18% | 21.6× | 10.9% | +8.9% |
| GRAIL GRAL | United States | $5.42B | +67% | +23% | -323% | n/a | n/a | n/a |
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Merit Medical Systems MMSI | United States | $5.23B | +42% | +9% | 14% | 19.4× | 12.2% | +9.5% |
| DiaSorin DIA.MI | Italy | $5.00B | +19% | -3% | 24% | 20.6× | 4.1% | +6.3% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| LivaNova LIVN | United States | $4.96B | +25% | +12% | 13% | 19.9× | 11.5% | +8.2% |
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |