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Chinese TCM pharma company known for Compound Danshen Dripping Pills, a cardiovascular traditional-medicine product it has tried to get FDA-approved.
Chinese TCM pharma company known for Compound Danshen Dripping Pills, a cardiovascular traditional-medicine product it has tried to get FDA-approved.
Most income comes from one product family, sold mainly through hospitals, so inclusion on China's state insurance reimbursement list and the price it fetches matter a great deal. A Tianjin-based group, Tasly's parent, is the controlling shareholder.
Moat: narrow (brand, IP / patents). Long-standing branded TCM formula with clinical data supporting cardiovascular use.
Headquarters: Tianjin, China · Employees: 10,563
Size Tasly Pharmaceutical (600535.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $3.20B, the 807th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.39 on 6 Nov 2026.
Performance Over six months the shares fell 4.9%, against +2.0% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue fell 4.2% over the last twelve months (peer median +18.6%); the operating margin is 18.9% (peer median 12.6%).
Valuation It trades at 16.5× forward earnings against a peer median of 23.8× (5th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +2 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 9.0 points above its cost of capital (5.3% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.00B | CN¥8.15B | CN¥8.42B | CN¥8.59B | CN¥8.55B |
| Revenue growth | — | -3% | -2% | +1% | — |
| Gross profit | CN¥5.67B | CN¥5.25B | CN¥5.44B | CN¥5.53B | CN¥5.26B |
| EBITDA | n/a | CN¥1.82B | CN¥1.93B | CN¥1.96B | CN¥1.79B |
| Net income | CN¥1.22B | CN¥1.10B | CN¥956M | CN¥1.07B | -CN¥264M |
| Free cash flow | CN¥1.70B | CN¥1.09B | CN¥1.49B | CN¥1.94B | CN¥1.93B |
| Capital expenditure | CN¥350M | CN¥381M | CN¥565M | CN¥669M | CN¥404M |
| Total debt | CN¥284M | CN¥1.48B | CN¥1.85B | CN¥2.96B | CN¥2.47B |
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 |
|---|---|---|---|---|---|---|
| Tasly Pharmaceutical 600535.SS | $3.20B | -5% | -4% | 19% | 16.5× | -7.6% |
| Beijing TongRenTang 600085.SS | $5.27B | -8% | -17% | 8% | 31.2× | 2.7% |
| Yunnan Baiyao 000538.SZ | $14.7B | +4% | +5% | 11% | 18.0× | -0.5% |
| Shijiazhuang Yiling Pharmaceutical 002603.SZ | $4.02B | -6% | +32% | 21% | 18.1× | -3.2% |
| Shandong Buchang Pharmaceuticals 603858.SS | $2.31B | -7% | +4% | 10% | n/a | -2.2% |
| Jiangsu Kanion Pharmaceutical 600557.SS | $1.05B | -6% | +8% | 7% | 21.0× | 3.4% |
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 | 600535.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.7% | +0.6% | 9th highest of 21 |
| 6-month return | -4.9% | +2.0% | 9th lowest of 20 |
| Distance from 52-week high | -11.4% | -25.8% | 4th highest of 21 |
| Revenue growth (TTM) | -4.2% | +18.6% | 5th lowest of 19 |
| Operating margin | 18.9% | 12.6% | 6th highest of 19 |
| Forward P/E | 16.5× | 23.8× | 5th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -7.6% | 15.2% | 3rd least demanding of 14 |
| Growth delivered (Del g) | -9.6% | +10.6% | lowest of 14 |
| Hurdle (Req g minus delivered) | +2.0 pp | -14.1 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | +9.0 pp | +2.0 pp | 6th highest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tasly Pharmaceutical 600535.SS | China | $3.20B | -5% | -4% | 19% | 16.5× | -7.6% | -9.6% |
| Arcutis Biotherapeutics ARQT | United States | $3.21B | +21% | +76% | 7% | 37.9× | 48.9% | +367.3% |
| Chengdu Kanghong Pharmaceutical 002773.SZ | China | $3.18B | -7% | -11% | 24% | 21.3× | -2.2% | +7.0% |
| Viridian Therapeutics VRDN | United States | $3.23B | +72% | -63% | -1,781% | n/a | n/a | n/a |
| Acutaas Chemicals ACUTAAS.NS | India | $3.28B | +39% | +45% | 36% | 61.8× | n/a | n/a |
| China Medical System 0867.HK | Hong Kong | $3.30B | -16% | +15% | 20% | 10.9× | 2.9% | +2.7% |
| China National Medicines 600511.SS | China | $3.31B | +2% | +3% | 4% | 10.7× | -9.8% | +5.4% |
| Hybio Pharmaceutical 300199.SZ | China | $3.08B | +16% | +70% | 31% | 51.4× | 40.1% | +6.1% |
| Wockhardt WOCKPHARMA.NS | India | $3.35B | +19% | +26% | 13% | n/a | 56.9% | +4.2% |
| Piramal Pharma PPLPHARMA.NS | India | $3.37B | +30% | +9% | 3% | 159.9× | n/a | n/a |
| Tarsus Pharmaceuticals TARS | United States | $3.38B | +12% | +86% | -10% | n/a | 31.9% | +159.5% |
| IDEAYA Biosciences IDYA | United States | $3.02B | +10% | -83% | -1,267% | n/a | n/a | n/a |
| Betta Pharmaceuticals 300558.SZ | China | $3.01B | -9% | +16% | 11% | 44.2× | 25.2% | +14.0% |
| Shanghai Henlius Biotech 2696.HK | Hong Kong | $3.41B | -37% | +33% | 12% | 23.8× | 15.2% | +61.4% |
| Viking Therapeutics VKTX | United States | $3.42B | -17% | n/a | n/a | n/a | n/a | n/a |
| Jiangsu Nhwa Pharmaceutical 002262.SZ | China | $3.47B | +2% | +3% | 19% | 19.6× | -2.2% | +12.0% |
| Sam Chun Dang Pharm 000250.KS | South Korea | $2.91B | -59% | +21% | 7% | n/a | n/a | n/a |
| Parabilis Medicines PBLS | United States | $3.52B | n/a | n/a | n/a | n/a | n/a | n/a |
| Joincare Pharmaceutical Group Industry 600380.SS | China | $2.86B | -4% | -12% | 18% | 15.6× | -13.1% | +2.4% |
| Suzhou Zelgen Biopharmaceuticals 688266.SS | China | $3.60B | -13% | +136% | 29% | 43.4× | 20.5% | +98.4% |
| Simcere Pharmaceutical 2096.HK | Hong Kong | $3.63B | -7% | +27% | 18% | 14.3× | -2.8% | +10.6% |