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Diversified Chinese pharma group making generics and innovative drugs and distributing medicines and devices nationwide.
Diversified Chinese pharma group making generics and innovative drugs and distributing medicines and devices nationwide.
Combines drug manufacturing, medical devices and hospitals with a pharmaceutical distribution business that earns thin margins on large volume. It holds a large minority stake in Sinopharm, China's biggest drug distributor. Its parent, the Fosun International investment conglomerate, controls it.
In one line: A Chinese cross between Sanofi and McKesson (mfg + distribution).
Moat: narrow (distribution, scale, regulatory licence). Broad national distribution network and manufacturing scale under the Fosun Group umbrella.
Headquarters: Shanghai, China · Founded: 1994 · Employees: 40,603
Size Shanghai Fosun Pharmaceutical (Group) (600196.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $8.70B, the 283rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.58 on 6 Nov 2026.
Performance Over six months the shares fell 5.3%, against +14.2% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 8.1% over the last twelve months (peer median +23.9%); the operating margin is 6.4% (peer median 15.0%).
Valuation It trades at 17.0× forward earnings against a peer median of 31.5× (5th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.1 points below its cost of capital (5.0% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥42.7B | CN¥41.5B | CN¥40.9B | CN¥41.3B | CN¥43.8B |
| Revenue growth | — | +1% | -1% | -6% | — |
| Gross profit | CN¥23.5B | CN¥19.1B | CN¥18.1B | CN¥18.1B | CN¥19.5B |
| EBITDA | n/a | CN¥6.10B | CN¥5.78B | CN¥3.96B | CN¥5.57B |
| Net income | CN¥3.51B | CN¥3.37B | CN¥2.77B | CN¥2.39B | CN¥3.73B |
| Free cash flow | CN¥493M | CN¥1.56B | CN¥1.16B | -CN¥973M | -CN¥853M |
| Capital expenditure | CN¥5.55B | CN¥4.45B | CN¥4.41B | CN¥5.34B | CN¥5.89B |
| Total debt | CN¥41.5B | CN¥36.7B | CN¥36.7B | CN¥35.7B | CN¥31.1B |
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 |
|---|---|---|---|---|---|---|
| Shanghai Fosun Pharmaceutical (Group) 600196.SS | $8.70B | -5% | +8% | 6% | 17.0× | 4.1% |
| Shanghai Pharmaceuticals 601607.SS | $8.32B | -2% | +4% | 3% | 11.4× | -10.0% |
| Sbp 1177.HK | $12.7B | +4% | +15% | 30% | 18.3× | -5.4% |
| China Resources Pharmaceutical 3320.HK | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% |
| Jiangsu Hengrui Pharmaceuticals 600276.SS | $49.7B | -6% | +6% | 27% | 36.4× | 14.9% |
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 | 600196.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.8% | +5.9% | 8th lowest of 21 |
| 6-month return | -5.3% | +14.2% | 6th lowest of 21 |
| Distance from 52-week high | -20.6% | -13.0% | 8th lowest of 21 |
| Revenue growth (TTM) | +8.1% | +23.9% | 5th lowest of 20 |
| Operating margin | 6.4% | 15.0% | 8th lowest of 19 |
| Forward P/E | 17.0× | 31.5× | 5th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 4.1% | 9.9% | 4th least demanding of 12 |
| Growth delivered (Del g) | +6.6% | +9.4% | lowest of 12 |
| Hurdle (Req g minus delivered) | -2.5 pp | -5.0 pp | 6th most demanding of 12 |
| ROIC minus cost of capital | -1.1 pp | +2.2 pp | 6th lowest of 17 |
| Net debt / EBITDA | 3.7× | -0.1× | 3rd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Fosun Pharmaceutical (Group) 600196.SS | China | $8.70B | -5% | +8% | 6% | 17.0× | 4.1% | +6.6% |
| Protagonist Therapeutics PTGX | United States | $8.54B | +33% | +35% | 21% | 48.4× | 47.5% | +10.0% |
| Shanghai Pharmaceuticals 2607.HK | Hong Kong | $8.48B | -7% | +9% | 3% | 6.6× | -10.3% | +7.4% |
| ImmunityBio IBRX | United States | $9.15B | +1% | +193% | -152% | n/a | n/a | n/a |
| TG Therapeutics TGTX | United States | $9.16B | +40% | +76% | 17% | 30.9× | 50.3% | +426.7% |
| Asymchem Laboratories (Tianjin) 6821.HK | Hong Kong | $8.19B | +22% | +24% | 17% | 29.2× | n/a | n/a |
| Madrigal Pharmaceuticals MDGL | United States | $9.28B | -22% | +93% | -11% | 79.5× | n/a | n/a |
| ALK-abello A/S ALK-B.CO | Denmark | $8.14B | -5% | +17% | 27% | 35.7× | 7.6% | +12.6% |
| Kyowa Kirin 4151.T | Japan | $8.05B | +4% | +10% | 24% | 15.6× | -6.1% | +9.3% |
| H. Lundbeck A/S HLUN-A.CO | Denmark | $8.02B | +47% | +9% | 27% | n/a | -9.1% | +6.6% |
| Corcept Therapeutics CORT | United States | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% | +16.6% |
| Rhythm Pharmaceuticals RYTM | United States | $7.78B | +19% | +61% | -67% | n/a | n/a | n/a |
| Praxis Precision Medicines PRAX | United States | $7.75B | -16% | -100% | n/a | n/a | n/a | n/a |
| Glenmark Pharmaceuticals GLENMARK.NS | India | $7.73B | +9% | +33% | 20% | 32.0× | 20.0% | +9.4% |
| Alkermes Public ALKS | United States | $7.71B | +31% | +15% | 5% | n/a | 31.5% | +7.3% |
| Spyre Therapeutics SYRE | United States | $9.86B | +38% | n/a | n/a | n/a | n/a | n/a |
| Grifols GRF.MC | Spain | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% | +7.1% |
| Cytokinetics CYTK | United States | $7.46B | -30% | -21% | -1,046% | n/a | n/a | n/a |
| Akeso 9926.HK | Hong Kong | $10.2B | -38% | +42% | -25% | n/a | n/a | n/a |
| Kiniksa Pharmaceuticals International KNSA | United States | $7.37B | +60% | +58% | 14% | 61.7× | 9.9% | +45.5% |
| Bachem BANB.SW | Switzerland | $7.32B | +3% | +5% | 19% | 33.1× | n/a | n/a |