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Chinese contract research organization (CRO) running clinical trials for pharma and biotech clients.
Chinese contract research organization (CRO) running clinical trials for pharma and biotech clients.
Charges drug and biotech developers for designing and managing their trials, from early studies through approval filings, and also provides data analysis and clinical-site staff. It gains both from Chinese companies seeking approvals abroad and from foreign groups running trials in China. It owns minority stakes in some biotech clients, which add investment gains or losses.
In one line: A Chinese IQVIA/ICON for clinical trial outsourcing.
Moat: narrow (scale, process know-how, customer qualification). Large domestic trial-site network and regulatory track record make it a preferred China CRO partner.
Headquarters: Hangzhou, China · Founded: 2004 · Employees: 11,130
Size Hangzhou Tigermed Consulting (3347.HK) is a Hong Kong Health Care company (Biotechnology) with a market value of $5.65B, the 242nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$39.08 on 6 Nov 2026.
Performance Over six months the shares fell 1.2%, against +2.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 21.7% over the last twelve months (peer median +8.3%); the operating margin is 9.6% (peer median -14.1%).
Valuation It trades at 71.8× forward earnings against a peer median of 40.9× (3rd most expensive of 8).
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 +16%, so the hurdle is +13 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 8.1 points below its cost of capital (11.3% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$8.63B | HK$7.39B | HK$7.14B | HK$8.14B | HK$8.22B |
| Revenue growth | — | +4% | -12% | -1% | — |
| Gross profit | HK$2.47B | HK$1.87B | HK$2.25B | HK$2.98B | HK$3.12B |
| EBITDA | n/a | HK$1.06B | HK$1.48B | HK$2.24B | HK$2.38B |
| Net income | -HK$458M | HK$963M | HK$439M | HK$2.24B | HK$2.33B |
| Free cash flow | HK$2.03B | HK$1.67B | HK$803M | HK$973M | HK$1.06B |
| Capital expenditure | HK$198M | HK$232M | HK$387M | HK$347M | HK$522M |
| Total debt | HK$2.60B | HK$1.87B | HK$3.02B | HK$3.68B | HK$3.08B |
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 |
|---|---|---|---|---|---|---|
| Hangzhou Tigermed Consulting 3347.HK | $5.65B | -1% | +22% | 10% | 71.8× | 28.3% |
| Iqvia IQV | $44.8B | +52% | +9% | 14% | 19.7× | 17.3% |
| ICON ICLR | $15.3B | +64% | +1% | 10% | 18.2× | 16.3% |
| Medpace MEDP | $18.3B | +54% | +20% | 21% | 33.9× | 22.1% |
| Fortrea FTRE | $2.12B | +42% | -3% | 2% | 22.8× | 32.9% |
| Pharmaron Beijing 3759.HK | $11.3B | +45% | +24% | 14% | 22.9× | n/a |
| Wuxi Apptec 2359.HK | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% |
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 | 3347.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.8% | +3.8% | 4th lowest of 21 |
| 6-month return | -1.2% | +2.4% | 10th lowest of 21 |
| Distance from 52-week high | -31.4% | -27.3% | 8th lowest of 21 |
| Revenue growth (TTM) | +21.7% | +8.3% | 7th highest of 16 |
| Operating margin | 9.6% | -14.1% | 5th highest of 16 |
| Forward P/E | 71.8× | 40.9× | 3rd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 28.3% | 32.2% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +15.6% | +16.6% | 3rd lowest of 6 |
| Hurdle (Req g minus delivered) | +12.7 pp | +10.5 pp | 3rd most demanding of 6 |
| ROIC minus cost of capital | -8.1 pp | -10.6 pp | 5th highest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou Tigermed Consulting 3347.HK | Hong Kong | $5.65B | -1% | +22% | 10% | 71.8× | 28.3% | +15.6% |
| Scholar Rock SRRK | United States | $5.72B | -3% | n/a | n/a | n/a | n/a | n/a |
| Cogent Biosciences COGT | United States | $5.49B | -9% | n/a | n/a | n/a | n/a | n/a |
| Anthem Biosciences ANTHEM.NS | India | $5.46B | +17% | -1% | 35% | 69.9× | 36.7% | +26.2% |
| Chongqing Zhifei Biological Products 300122.SZ | China | $5.35B | -2% | -28% | -210% | n/a | -6.4% | -10.0% |
| Kodiak Sciences KOD | United States | $6.24B | +142% | n/a | n/a | n/a | n/a | n/a |
| Immunovant IMVT | United States | $6.31B | +5% | n/a | n/a | n/a | n/a | n/a |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 13.7× | n/a | n/a |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | n/a | n/a | n/a | n/a |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 17% | 13.7× | n/a | n/a |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -2,059% | n/a | n/a | n/a |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | n/a | n/a | n/a |
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -4,056% | n/a | n/a | n/a |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -35% | n/a | n/a | n/a |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -19% | 75.5× | n/a | n/a |
| Joinn Laboratories (China) 603127.SS | China | $4.58B | +15% | +12% | -4% | 40.9× | n/a | n/a |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -1% | 30.2× | 32.2% | +7.1% |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 15% | 86.1× | 18.7% | +85.4% |
| Adaptive Biotechnologies ADPT | United States | $4.47B | +103% | +50% | -12% | n/a | n/a | n/a |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -14% | n/a | 41.8% | +16.6% |
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | n/a | n/a | n/a |