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Large Chinese state pharma group making antibiotics, vitamins (incl. bulk vitamin C) and OTC medicines.
Large Chinese state pharma group making antibiotics, vitamins (incl. bulk vitamin C) and OTC medicines.
Bulk vitamin C is a commodity whose price follows global supply, with China dominating output, so profit swings. Branded OTC medicines and antibiotics provide steadier but slower-growing income.
Moat: narrow (scale). Large-scale bulk API/vitamin manufacturing versus smaller regional producers.
Headquarters: Harbin, China · Employees: 10,039
Size Harbin Pharmaceutical (600664.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $2.10B, the 1207th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.55 on 6 Nov 2026.
Performance Over six months the shares gained 55.0%, against -12.0% for the median peer and -16.4% for the China market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 2.2% over the last twelve months (peer median -1.3%); the operating margin is 5.1% (peer median 12.4%).
Valuation It trades at 23.1× forward earnings against a peer median of 17.5× (7th most expensive of 18).
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 +8%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.0 points above its cost of capital (5.0% WACC).
Next results Next results expected around 14 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥16.3B | CN¥15.9B | CN¥16.1B | CN¥15.3B | CN¥13.7B |
| Revenue growth | — | -1% | +5% | +12% | — |
| Gross profit | CN¥4.36B | CN¥3.95B | CN¥4.35B | CN¥3.77B | CN¥3.10B |
| EBITDA | n/a | CN¥845M | CN¥1.22B | CN¥919M | CN¥871M |
| Net income | CN¥633M | CN¥362M | CN¥629M | CN¥395M | CN¥465M |
| Free cash flow | CN¥724M | CN¥289M | CN¥692M | CN¥864M | CN¥533M |
| Capital expenditure | CN¥176M | CN¥151M | CN¥101M | CN¥86.5M | CN¥89.6M |
| Total debt | CN¥2.56B | CN¥2.94B | CN¥3.78B | CN¥3.56B | CN¥3.43B |
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 |
|---|---|---|---|---|---|---|
| Harbin Pharmaceutical 600664.SS | $2.10B | +55% | +2% | 5% | 23.1× | -2.9% |
| North China Pharmaceutical 600812.SS | $1.17B | -8% | -21% | 5% | n/a | 1.4% |
| Cspc Pharma 1093.HK | $12.4B | +5% | +25% | 28% | 9.3× | -10.3% |
| Northeast Pharmaceutical 000597.SZ | $948M | -10% | -6% | 3% | n/a | -6.8% |
| Zhejiang Medicine 600216.SS | $1.61B | -23% | -6% | 7% | 11.3× | -6.7% |
| Shandong Xinhua Pharmaceutical 000756.SZ | $1.09B | -10% | -5% | 4% | 18.3× | 1.5% |
| Zhejiang NHU 002001.SZ | $12.3B | -23% | +11% | 33% | 9.9× | -7.8% |
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 | 600664.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.3% | -0.6% | 2nd lowest of 21 |
| 6-month return | +55.0% | -12.0% | highest of 21 |
| Distance from 52-week high | -43.7% | -30.8% | 5th lowest of 21 |
| Revenue growth (TTM) | +2.2% | -1.3% | 9th highest of 20 |
| Operating margin | 5.1% | 12.4% | 6th lowest of 20 |
| Forward P/E | 23.1× | 17.5× | 7th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | -2.9% | 9.1% | 3rd least demanding of 18 |
| Growth delivered (Del g) | +8.2% | +6.5% | 7th highest of 18 |
| Hurdle (Req g minus delivered) | -11.1 pp | -0.2 pp | 6th least demanding of 18 |
| ROIC minus cost of capital | +6.0 pp | -2.8 pp | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| 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% |
| CSPC Hunan Jingfeng Pharmaceutical 000908.SZ | China | $2.13B | -27% | +5% | -18% | n/a | n/a | n/a |
| Nanjing King-friend Biochemical Pharmaceutical 603707.SS | China | $2.15B | -3% | +9% | 14% | 22.8× | 6.1% | +6.4% |
| Jinyu Bio-Technology 600201.SS | China | $2.04B | -15% | +22% | 10% | 62.4× | 24.4% | -2.4% |
| Prestige Consumer Healthcare PBH | United States | $2.04B | -18% | -1% | 26% | 9.3× | -0.2% | +2.9% |
| 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% |
| Haw Par H02.SI | Singapore | $2.18B | -27% | -13% | 30% | 12.4× | 3.7% | +15.7% |
| Alembic Pharmaceuticals APLLTD.NS | India | $2.01B | +24% | +20% | 12% | 24.4× | 25.0% | +6.5% |
| Biohaven BHVN | United States | $2.19B | +47% | n/a | n/a | n/a | n/a | n/a |
| 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% |
| United Laboratories International 3933.HK | Hong Kong | $2.00B | -19% | -13% | 5% | 14.5× | 3.7% | +7.8% |
| Perrigo PRGO | United States | $2.20B | +35% | -4% | 5% | 6.3× | 13.1% | +0.8% |
| 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% |