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State-owned Chinese plasma-products maker under China National Biotec Group, producing albumin, immunoglobulin and vaccines.
State-owned Chinese plasma-products maker under China National Biotec Group, producing albumin, immunoglobulin and vaccines.
Plasma products carry the company: albumin and immunoglobulin are extracted from collected blood plasma, so sales depend on how much its licensed collection stations can gather. Hospitals and distributors buy them, with vaccines a smaller line. It sits inside the state-owned Sinopharm group through China National Biotec.
In one line: A state-owned Chinese CSL Behring.
Moat: narrow (regulatory licence, scale). State-backed plasma-collection network under Sinopharm/CNBG with licensed collection stations nationwide.
Headquarters: Beijing, China · Employees: 5,205
Size Beijing Tiantan Biological Products (600161.SS) is a China Health Care company (Biotechnology) with a market value of $3.76B, the 689th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥12.67 on 6 Nov 2026.
Performance Over six months the shares fell 11.2%, against +2.5% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue fell 12.8% over the last twelve months (peer median +16.7%); the operating margin is 21.4% (peer median -93.4%).
Valuation It trades at 33.6× forward earnings against a peer median of 25.5× (2nd most expensive of 6).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.56B | CN¥6.14B | CN¥6.01B | CN¥5.13B | CN¥4.22B |
| Revenue growth | — | +2% | +17% | +22% | — |
| Gross profit | CN¥2.39B | CN¥2.58B | CN¥3.19B | CN¥2.52B | CN¥2.00B |
| EBITDA | n/a | CN¥2.22B | CN¥2.83B | CN¥1.98B | CN¥1.49B |
| Net income | CN¥700M | CN¥1.09B | CN¥1.55B | CN¥1.11B | CN¥881M |
| Free cash flow | CN¥41.3M | -CN¥230M | -CN¥226M | CN¥1.35B | -CN¥206M |
| Capital expenditure | CN¥619M | CN¥606M | CN¥1.07B | CN¥1.08B | CN¥1.35B |
| Total debt | CN¥79.2M | CN¥187M | CN¥59.4M | CN¥147M | CN¥409M |
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 |
|---|---|---|---|---|---|---|
| Beijing Tiantan Biological Products 600161.SS | $3.76B | -11% | -13% | 21% | 33.6× | 3.2% |
| Hualan Biological Engineering 002007.SZ | $3.37B | -15% | -11% | 17% | 25.5× | 16.7% |
| Shanghai RAAS Blood Products 002252.SZ | $4.89B | -11% | -22% | 17% | 13.7× | n/a |
| CSL CSL.AX | $67.2B | +105% | -2% | 26% | 22.4× | 7.1% |
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 | 600161.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.0% | +2.1% | 11th highest of 21 |
| 6-month return | -11.2% | +2.5% | 7th lowest of 21 |
| Distance from 52-week high | -34.0% | -26.8% | 7th lowest of 21 |
| Revenue growth (TTM) | -12.8% | +16.7% | 4th lowest of 16 |
| Operating margin | 21.4% | -93.4% | highest of 17 |
| Forward P/E | 33.6× | 25.5× | 2nd most expensive of 6 |
| Growth the price implies (Req g, 7 yrs) | 3.2% | 16.7% | least demanding of 4 |
| Growth delivered (Del g) | +12.5% | +7.1% | highest of 4 |
| Hurdle (Req g minus delivered) | -9.2 pp | +18.5 pp | least demanding of 4 |
| ROIC minus cost of capital | +2.4 pp | -17.1 pp | 2nd highest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Beijing Tiantan Biological Products 600161.SS | China | $3.76B | -11% | -13% | 21% | 33.6× | 3.2% | +12.5% |
| Lin BioScience 6696.TWO | Taiwan | $3.74B | +129% | n/a | n/a | n/a | n/a | n/a |
| AbCellera Biologics ABCL | United States | $3.85B | +149% | +101% | -340% | n/a | n/a | n/a |
| Iovance Biotherapeutics IOVA | United States | $3.64B | +64% | +35% | -91% | n/a | n/a | n/a |
| Tango Therapeutics TNGX | United States | $3.63B | -7% | +121% | -253% | n/a | n/a | n/a |
| Enliven Therapeutics ELVN | United States | $3.62B | +21% | n/a | n/a | n/a | n/a | n/a |
| Disc Medicine IRON | United States | $3.50B | +16% | n/a | n/a | n/a | n/a | n/a |
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | n/a | n/a | n/a |
| Virbac VIRP.PA | France | $3.38B | +5% | +4% | 15% | 17.2× | 6.2% | +9.4% |
| Dyne Therapeutics DYN | United States | $3.37B | +3% | n/a | n/a | n/a | n/a | n/a |
| Hualan Biological Engineering 002007.SZ | China | $3.37B | -15% | -11% | 17% | 25.5× | 16.7% | -1.8% |
| XtalPi 2228.HK | Hong Kong | $3.35B | -34% | +4% | -127% | n/a | n/a | n/a |
| Telix Pharmaceuticals TLX.AX | Australia | $3.22B | -6% | +27% | -1% | 36.8× | n/a | n/a |
| Denali Therapeutics DNLI | United States | $3.22B | +2% | n/a | -2,488% | n/a | n/a | n/a |
| JOINN Laboratories (China) 6127.HK | Hong Kong | $4.43B | +9% | +17% | -4% | 18.6× | n/a | n/a |
| Adaptive Biotechnologies ADPT | United States | $4.47B | +103% | +50% | -12% | n/a | n/a | n/a |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -1% | 30.2× | 32.2% | +7.1% |
| HLB 028300.KS | South Korea | $3.06B | -49% | +29% | -96% | n/a | n/a | n/a |
| Caliway Biopharmaceuticals 6919.TW | Taiwan | $3.01B | -37% | -54% | -6,983% | 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 |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | n/a | n/a | n/a |