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Chinese developer of extended-release and low-dose generic drugs, with many products cleared for sale in the US.
Chinese developer of extended-release and low-dose generic drugs, with many products cleared for sale in the US.
Earns from generic drugs it designs itself, chiefly extended-release forms that release the drug slowly and are harder to copy than ordinary tablets. Each US FDA approval lets it start selling a new product, so the pipeline of approvals drives growth. It listed on Shenzhen's ChiNext board in October 2026.
In one line: A small, China-based Amneal focused on harder-to-make generics.
Moat: narrow (process know-how, regulatory licence). Harder-to-make formulations and a record of US FDA approvals limit the number of rivals.
Headquarters: Nantong, China · Employees: 697
Size Novast Laboratories (301569.SZ) is a China Health Care company (Pharmaceuticals: Major) with a market value of $4.82B, the 524th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥19.27 on 6 Nov 2026.
Growth Revenue grew 3.1% over the last twelve months (peer median +14.0%); the operating margin is 27.4% (peer median 16.5%).
Valuation It trades at 34.4× enterprise value to sales against a peer median of 4.6× (most expensive of 19).
Price implies For today's price to make sense, revenue must grow about 43% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +39 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 14.2 points above its cost of capital (6.9% WACC).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | CN¥893M | CN¥866M | CN¥700M |
| Revenue growth | — | +3% | +24% | — |
| Gross profit | n/a | CN¥490M | CN¥465M | CN¥343M |
| EBITDA | n/a | CN¥281M | CN¥273M | CN¥121M |
| Net income | n/a | CN¥228M | CN¥260M | CN¥116M |
| Free cash flow | n/a | CN¥250M | CN¥165M | CN¥78.8M |
| Capital expenditure | n/a | CN¥75.3M | CN¥106M | CN¥127M |
| Total debt | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
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 |
|---|---|---|---|---|---|---|
| Novast Laboratories 301569.SZ | $4.82B | n/a | +3% | 27% | 34.4× | 42.6% |
| Zhejiang Huahai Pharmaceutical 600521.SS | $3.86B | +8% | +10% | 12% | 3.4× | 7.3% |
| Amneal Pharmaceuticals AMRX | $7.01B | +53% | +9% | 17% | 3.2× | 15.2% |
| Teva Pharmaceutical Industries Limited Sponsored ADR TEVA | $49.7B | +19% | -4% | 19% | 3.6× | 10.2% |
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 | 301569.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| Distance from 52-week high | -54.3% | -27.9% | 3rd lowest of 21 |
| Revenue growth (TTM) | +3.1% | +14.0% | 6th lowest of 19 |
| Operating margin | 27.4% | 16.5% | 6th highest of 19 |
| EV / Sales | 34.4× | 4.6× | most expensive of 19 |
| Growth the price implies (Req g, 7 yrs) | 42.6% | 8.0% | most demanding of 18 |
| Growth delivered (Del g) | +3.1% | +12.7% | 3rd lowest of 18 |
| Hurdle (Req g minus delivered) | +39.4 pp | -3.2 pp | most demanding of 18 |
| ROIC minus cost of capital | +14.2 pp | +3.7 pp | 5th highest of 17 |
| Net debt / EBITDA | -5.0× | -0.2× | least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Novast Laboratories 301569.SZ | China | $4.82B | n/a | +3% | 27% | 34.4× | 42.6% | +3.1% |
| Travere Therapeutics TVTX | United States | $4.76B | +16% | +49% | -3% | 7.5× | 16.7% | +19.9% |
| Humanwell Healthcare (Group) 600079.SS | China | $4.71B | +3% | -3% | 16% | 1.6× | -6.8% | +3.0% |
| Guangzhou Baiyunshan Pharmaceutical 600332.SS | China | $4.61B | -11% | +1% | 3% | 0.6× | -0.3% | +4.7% |
| Erasca ERAS | United States | $5.04B | +42% | n/a | n/a | n/a | n/a | n/a |
| Legend Biotech Corp. Sponsored ADR LEGN | United States | $4.53B | -17% | +60% | -4% | 3.0× | n/a | n/a |
| GlaxoSmithKline Pharmaceuticals GLAXO.NS | India | $4.53B | +2% | +12% | 33% | 9.8× | 25.2% | +5.5% |
| SKBP 326030.KS | South Korea | $5.12B | -11% | +39% | 35% | 8.1× | 0.5% | +93.6% |
| Camurus CAMX.ST | Sweden | $4.52B | +47% | 0% | 37% | 17.8× | 10.4% | +46.5% |
| Shenzhen Salubris Pharmaceuticals 002294.SZ | China | $5.18B | -39% | +14% | 11% | 7.0× | 15.5% | +9.7% |
| Emcure Pharmaceuticals EMCURE.NS | India | $4.47B | +33% | +21% | 16% | 4.3× | 14.9% | +12.7% |
| Sunshine Guojian Pharmaceutical (Shanghai) 688336.SS | China | $4.47B | -34% | +227% | 74% | 6.5× | 3.3% | +45.1% |
| Definium Therapeutics DFTX | United States | $4.47B | +51% | n/a | n/a | n/a | n/a | n/a |
| IPCA Laboratories IPCALAB.NS | India | $5.22B | +24% | +11% | 17% | 4.9× | 17.8% | +12.2% |
| Sumitomo Pharma 4506.T | Japan | $5.23B | +7% | +11% | 10% | 1.8× | 1.4% | -2.6% |
| Beijing TongRenTang 600085.SS | China | $5.27B | -8% | -17% | 8% | 2.4× | 2.7% | +6.2% |
| Ajanta Pharma AJANTPHARM.NS | India | $4.37B | +7% | +25% | 25% | 6.6× | 23.8% | +13.8% |
| HanmiPharm 128940.KS | South Korea | $4.36B | +2% | +14% | 16% | 3.5× | 5.0% | +7.5% |
| Supernus Pharmaceuticals SUPN | United States | $5.43B | -49% | +16% | 45% | 4.1× | 4.2% | +13.9% |
| PTC Therapeutics PTCT | United States | $5.47B | -11% | -35% | 22% | 3.4× | 8.0% | +35.4% |
| Gland Pharma GLAND.NS | India | $5.53B | +69% | +18% | 20% | 7.8× | 28.0% | +13.3% |