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Henan maker of transdermal medicated patches for joint and muscle pain, a leading Chinese OTC patch brand.
Henan maker of transdermal medicated patches for joint and muscle pain, a leading Chinese OTC patch brand.
In one line: A Chinese Salonpas / Icy Hot maker.
Moat: narrow (brand, distribution). Long-established OTC patch brand with wide pharmacy shelf presence across China.
Headquarters: Xinyang, Henan, China · Employees: 2,789
Size Henan Lingrui Pharmaceutial (600285.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $2.02B, the 1249th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥23.87 on 6 Nov 2026.
Performance Over six months the shares gained 6.8%, against -4.8% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 4.7% over the last twelve months (peer median +4.8%); the operating margin is 22.4% (peer median 12.8%).
Valuation It trades at 15.9× forward earnings against a peer median of 23.1× (8th cheapest of 20).
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 +11%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.95B | CN¥3.81B | CN¥3.46B | CN¥3.28B | CN¥2.97B |
| Revenue growth | — | +10% | +5% | +10% | — |
| Gross profit | CN¥3.15B | CN¥3.01B | CN¥2.58B | CN¥2.36B | CN¥2.11B |
| EBITDA | n/a | CN¥923M | CN¥799M | CN¥670M | CN¥466M |
| Net income | CN¥827M | CN¥760M | CN¥723M | CN¥568M | CN¥465M |
| Free cash flow | CN¥1.08B | CN¥531M | CN¥781M | CN¥806M | CN¥822M |
| Capital expenditure | CN¥59.7M | CN¥56.8M | CN¥115M | CN¥21.2M | CN¥27.0M |
| Total debt | CN¥322M | CN¥437M | CN¥133M | CN¥256M | CN¥224M |
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 |
|---|---|---|---|---|---|---|
| Henan Lingrui Pharmaceutial 600285.SS | $2.02B | +7% | +5% | 22% | 15.9× | -4.8% |
| Shandong Buchang Pharmaceuticals 603858.SS | $2.31B | -7% | +4% | 10% | n/a | -2.2% |
| KPC Pharmaceuticals 600422.SS | $1.00B | -7% | -41% | -10% | n/a | n/a |
| Tianjin Pharmaceutical Da Ren Tang 600329.SS | $4.11B | +4% | -13% | 20% | 31.4× | 17.8% |
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 | 600285.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +25.1% | -1.2% | highest of 21 |
| 6-month return | +6.8% | -4.8% | 9th highest of 21 |
| Distance from 52-week high | -0.4% | -28.9% | highest of 21 |
| Revenue growth (TTM) | +4.7% | +4.8% | 11th highest of 21 |
| Operating margin | 22.4% | 12.8% | 5th highest of 21 |
| Forward P/E | 15.9× | 23.1× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -4.8% | 9.1% | 2nd least demanding of 18 |
| Growth delivered (Del g) | +10.6% | +7.8% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | -15.4 pp | -0.2 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | +20.4 pp | -0.4 pp | 3rd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Henan Lingrui Pharmaceutial 600285.SS | China | $2.02B | +7% | +5% | 22% | 15.9× | -4.8% | +10.6% |
| Qingdao Baheal Medical 301015.SZ | China | $2.02B | +4% | -6% | 8% | 23.5× | 11.9% | +5.0% |
| Grand Pharmaceutical 0512.HK | Hong Kong | $2.01B | -27% | +7% | 13% | 9.8× | 1.2% | +14.1% |
| Alembic Pharmaceuticals APLLTD.NS | India | $2.01B | +24% | +20% | 12% | 24.4× | 25.0% | +6.5% |
| Prestige Consumer Healthcare PBH | United States | $2.04B | -18% | -1% | 26% | 9.3× | -0.2% | +2.9% |
| Anhui Anke Biotechnology (Group) 300009.SZ | China | $2.01B | -9% | -9% | 30% | 19.3× | 9.1% | +9.3% |
| BrightGene Bio-Medical Technology 688166.SS | China | $2.00B | -51% | +14% | 7% | 87.6× | 38.5% | +9.2% |
| Jinyu Bio-Technology 600201.SS | China | $2.04B | -15% | +22% | 10% | 62.4× | 24.4% | -2.4% |
| United Laboratories International 3933.HK | Hong Kong | $2.00B | -19% | -13% | 5% | 14.5× | 3.7% | +7.8% |
| ApicHope Pharmaceutical 300723.SZ | China | $1.99B | -28% | -28% | -50% | 25.7× | 14.0% | -11.0% |
| Sino Biological 301047.SZ | China | $1.98B | +50% | +20% | 17% | 63.8× | 36.8% | -15.1% |
| Shilpa Medicare SHILPAMED.NS | India | $1.95B | +113% | +28% | 21% | 62.1× | n/a | n/a |
| Tibet Rhodiola Pharmaceutical 600211.SS | China | $1.95B | 0% | +13% | 27% | 13.0× | -0.5% | +16.7% |
| Harbin Pharmaceutical 600664.SS | China | $2.10B | +55% | +2% | 5% | 23.1× | -2.9% | +8.2% |
| Zymeworks ZYME | United States | $2.10B | +24% | -70% | -419% | 12.0× | n/a | n/a |
| OneSource Specialty Pharma ONESOURCE.NS | India | $1.94B | -12% | +11% | 6% | 45.0× | n/a | n/a |
| Dermapharm DMP.DE | Germany | $2.11B | -25% | 0% | 22% | 14.5× | -3.8% | +8.0% |
| Zhejiang Jiuzhou Pharmaceutical 603456.SS | China | $2.12B | +17% | -1% | 14% | 17.5× | 2.4% | +15.7% |
| Tonghua Golden-Horse Pharmaceutical Industry 000766.SZ | China | $2.12B | -41% | -18% | 9% | n/a | 37.9% | +0.9% |
| Harmony Biosciences HRMY | United States | $1.93B | +7% | +20% | 22% | 8.6× | -10.9% | +40.3% |
| Alivus Life Sciences ALIVUS.NS | India | $1.92B | +32% | +8% | 31% | 24.4× | 20.4% | +6.2% |