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State-owned Chinese pharmaceutical conglomerate spanning drug manufacturing, distribution and retail pharmacy.
State-owned Chinese pharmaceutical conglomerate spanning drug manufacturing, distribution and retail pharmacy.
Distribution carries most of the revenue but at thin margins, since it buys from manufacturers and sells to hospitals and pharmacies; profit comes disproportionately from its own manufacturing units, including consumer-health brands such as Sanjiu 999. It is part of the state-owned China Resources group.
In one line: A Chinese McKesson plus a generic-drug maker, state-owned.
Moat: narrow (scale, distribution, regulatory licence). State-backed nationwide distribution network is costly for private rivals to replicate.
Headquarters: Shenzhen, China · Founded: 2000 · Employees: 85,600
Size China Resources Pharmaceutical (3320.HK) is a Hong Kong Health Care company (Pharmaceuticals: Major) with a market value of $3.74B, the 304th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$4.67 on 6 Nov 2026.
Performance Over six months the shares fell 10.6%, against +2.0% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 7.9% over the last twelve months (peer median +4.5%); the operating margin is 4.4% (peer median 16.8%).
Valuation It trades at 6.0× forward earnings against a peer median of 21.5× (2nd cheapest of 16).
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 +8%, so the hurdle is -13 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points below its cost of capital (5.0% WACC).
Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$304B | HK$292B | HK$279B | HK$270B | HK$254B |
| Revenue growth | — | +5% | +3% | +6% | — |
| Gross profit | HK$49.7B | HK$48.3B | HK$44.1B | HK$42.4B | HK$39.1B |
| EBITDA | HK$18.1B | HK$17.8B | HK$16.1B | HK$15.4B | HK$14.0B |
| Net income | HK$4.65B | HK$4.39B | HK$3.63B | HK$4.26B | HK$4.15B |
| Free cash flow | HK$18.0B | HK$18.0B | HK$14.5B | HK$12.1B | HK$8.05B |
| Capital expenditure | HK$3.89B | HK$3.85B | HK$3.47B | HK$3.46B | HK$3.36B |
| Total debt | n/a | HK$105B | HK$93.2B | HK$85.8B | HK$67.0B |
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 |
|---|---|---|---|---|---|---|
| China Resources Pharmaceutical 3320.HK | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% |
| Guangzhou Baiyunshan Pharmaceutical 0874.HK | $4.56B | -23% | +6% | 3% | 7.3× | 0.7% |
| Sinopharm 1099.HK | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% |
| Shanghai Pharmaceuticals 2607.HK | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% |
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 | 3320.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.7% | +5.2% | 6th highest of 21 |
| 6-month return | -10.6% | +2.0% | 6th lowest of 20 |
| Distance from 52-week high | -28.6% | -23.8% | 10th lowest of 21 |
| Revenue growth (TTM) | +7.9% | +4.5% | 9th highest of 19 |
| Operating margin | 4.4% | 16.8% | 2nd lowest of 17 |
| Forward P/E | 6.0× | 21.5× | 2nd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -5.3% | 1.1% | 3rd least demanding of 15 |
| Growth delivered (Del g) | +7.8% | +8.4% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | -13.1 pp | -11.2 pp | 6th least demanding of 15 |
| ROIC minus cost of capital | -0.6 pp | +8.0 pp | 4th lowest of 17 |
| EV / EBITDA | 9.7× | 18.8× | 3rd cheapest of 10 |
| Net debt / EBITDA | 3.9× | -0.5× | 2nd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Resources Pharmaceutical 3320.HK | Hong Kong | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% | +7.8% |
| Apeloa Pharmaceutical 000739.SZ | China | $3.73B | +18% | -16% | 10% | 25.1× | 6.3% | +4.5% |
| Livzon Pharmaceutical 000513.SZ | China | $3.71B | -4% | -14% | 19% | 16.9× | -9.8% | +2.7% |
| Amylyx Pharmaceuticals AMLX | United States | $3.70B | +97% | +100% | n/a | n/a | n/a | n/a |
| Xenon Pharmaceuticals XENE | United States | $3.79B | +4% | -100% | n/a | n/a | n/a | n/a |
| ACADIA Pharmaceuticals ACAD | United States | $3.66B | -5% | +12% | 8% | 21.5× | 16.7% | +19.4% |
| Organon & OGN | United States | $3.64B | +4% | -3% | 20% | 4.0× | -4.5% | -1.0% |
| Simcere Pharmaceutical 2096.HK | Hong Kong | $3.63B | -7% | +27% | 18% | 14.3× | -2.8% | +10.6% |
| Santen Pharmaceutical 4536.T | Japan | $3.86B | +17% | -1% | 16% | 15.6× | -5.2% | +3.2% |
| Zhejiang Huahai Pharmaceutical 600521.SS | China | $3.86B | +8% | +10% | 12% | 22.1× | 7.3% | +5.9% |
| Suzhou Zelgen Biopharmaceuticals 688266.SS | China | $3.60B | -13% | +136% | 29% | 43.4× | 20.5% | +98.4% |
| Laboratorios Farmaceuticos Rovi ROVI.MC | Spain | $3.89B | +15% | +3% | 20% | 22.3× | 1.5% | +12.1% |
| Parabilis Medicines PBLS | United States | $3.52B | n/a | n/a | n/a | n/a | n/a | n/a |
| Liquidia LQDA | United States | $3.97B | +5% | +2,234% | 37% | 32.9× | 0.7% | +192.5% |
| Siegfried SFZN.SW | Switzerland | $3.98B | -10% | +4% | 16% | 17.8× | n/a | n/a |
| Jiangsu Nhwa Pharmaceutical 002262.SZ | China | $3.47B | +2% | +3% | 19% | 19.6× | -2.2% | +12.0% |
| Yuhan 000100.KS | South Korea | $4.05B | -12% | +5% | 5% | 38.6× | 20.2% | +6.2% |
| HUBEI JUMPCAN PHARMACEUTICAL 600566.SS | China | $4.05B | +6% | -4% | 32% | 14.9× | -11.5% | +0.3% |
| Shanghai Junshi Biosciences 688180.SS | China | $4.06B | -24% | +29% | -15% | n/a | n/a | n/a |
| Viking Therapeutics VKTX | United States | $3.42B | -17% | n/a | n/a | n/a | n/a | n/a |
| Shanghai Henlius Biotech 2696.HK | Hong Kong | $3.41B | -37% | +33% | 12% | 23.8× | 15.2% | +61.4% |