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Chinese cell and gene engineering company involved in cord-blood banking and cell-therapy services.
Chinese cell and gene engineering company involved in cord-blood banking and cell-therapy services.
Families pay an up-front processing fee, then yearly storage fees to keep cord blood frozen for possible future treatment, so income builds with the number of samples stored. Cell-therapy services extend the business beyond storage.
In one line: A China-based cord-blood bank/cell-therapy company.
Moat: narrow (regulatory licence, installed base). Cord-blood banking requires regional licences that limit new entrants.
Headquarters: Tianjin, China · Employees: 1,935
Size Vcanbio Cell & Gene Engineering (600645.SS) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $1.23B, the 1927th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.55 on 6 Nov 2026.
Performance Over six months the shares fell 32.2%, against -16.1% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 6.3% over the last twelve months (peer median +12.1%); the operating margin is 11.7% (peer median 9.3%).
Valuation It trades at 45.0× forward earnings against a peer median of 22.2× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +9 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 2.9 points above its cost of capital (6.8% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.38B | CN¥1.44B | CN¥1.57B | CN¥1.58B | CN¥1.55B |
| Revenue growth | — | -8% | -1% | +2% | — |
| Gross profit | CN¥1.03B | CN¥912M | CN¥984M | CN¥1.00B | CN¥959M |
| EBITDA | n/a | CN¥305M | CN¥317M | CN¥298M | CN¥296M |
| Net income | CN¥113M | CN¥114M | CN¥100M | CN¥106M | CN¥113M |
| Free cash flow | CN¥261M | CN¥276M | CN¥218M | CN¥210M | CN¥163M |
| Capital expenditure | CN¥41.4M | CN¥49.6M | CN¥67.3M | CN¥88.6M | CN¥99.2M |
| Total debt | CN¥64.7M | CN¥68.8M | CN¥112M | CN¥126M | CN¥130M |
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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 | 600645.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | +1.3% | 9th lowest of 21 |
| 6-month return | -32.2% | -16.1% | 3rd lowest of 21 |
| Distance from 52-week high | -46.8% | -36.1% | 4th lowest of 21 |
| Revenue growth (TTM) | -6.3% | +12.1% | 3rd lowest of 21 |
| Operating margin | 11.7% | 9.3% | 7th highest of 21 |
| Forward P/E | 45.0× | 22.2× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 11.0% | 4.0% | 5th most demanding of 10 |
| Growth delivered (Del g) | +1.9% | +15.0% | 2nd lowest of 9 |
| Hurdle (Req g minus delivered) | +9.1 pp | -14.4 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | +2.9 pp | -0.0 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vcanbio Cell & Gene Engineering 600645.SS | China | $1.23B | -32% | -6% | 12% | 45.0× | 11.0% | +1.9% |
| Shanxi Huaxiang 603112.SS | China | $1.24B | -26% | +9% | 11% | 12.1× | 1.4% | +16.2% |
| Jadard Technology 688252.SS | China | $1.22B | -12% | +6% | 12% | 23.8× | 13.3% | +31.3% |
| CRA International CRAI | United States | $1.24B | +42% | +11% | 10% | 22.4× | n/a | n/a |
| Resolute Holdings Management RHLD | United States | $1.20B | +39% | +10% | 9% | n/a | 26.0% | n/a |
| Shanghai MicroPort EP Medtech 688351.SS | China | $1.27B | -23% | +20% | 3% | 135.2× | 41.7% | +26.7% |
| Bajaj Mobility BMAG.SW | Switzerland | $1.28B | +86% | -47% | -44% | 10.4× | n/a | n/a |
| China East Education 0667.HK | Hong Kong | $1.18B | -18% | +16% | 22% | 8.4× | -6.1% | +4.1% |
| Shenzhen Aoni Electronic 301189.SZ | China | $1.18B | -17% | +139% | 2% | n/a | n/a | n/a |
| Beijing Haitian Ruisheng Science Technology 688787.SS | China | $1.17B | -1% | +34% | 4% | 163.5× | n/a | n/a |
| SBT Ultrasonic Technology 688392.SS | China | $1.16B | -19% | +42% | 17% | 52.9× | n/a | n/a |
| EMTEK (Shenzhen) 300938.SZ | China | $1.16B | -44% | +11% | 27% | 33.1× | n/a | n/a |
| Naruida Technology 688522.SS | China | $1.14B | -28% | +20% | 14% | 22.0× | n/a | n/a |
| Suzhou Novoprotein Scientific 688137.SS | China | $1.33B | +161% | +8% | -62% | n/a | n/a | n/a |
| Central Mine Planning & Design Institute CMPDI.NS | India | $1.34B | -15% | +10% | 33% | n/a | 4.0% | +18.7% |
| Nittetsu Mining 1515.T | Japan | $1.34B | +10% | +13% | 9% | n/a | n/a | n/a |
| TKC 9746.T | Japan | $1.34B | +21% | +14% | 22% | 18.1× | -9.9% | +4.2% |
| Changchun Up Optotech 002338.SZ | China | $1.34B | -39% | +22% | 2% | 43.4× | n/a | n/a |
| FESCO 600861.SS | China | $1.11B | -18% | +4% | 1% | 10.4× | n/a | n/a |
| SBS 2384.T | Japan | $1.38B | +32% | +22% | 6% | 14.1× | -8.2% | +13.8% |
| China Security 600654.SS | China | $1.39B | -31% | -30% | -1% | n/a | 56.7% | +0.4% |