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One of China's largest pharmaceutical distributors, delivering drugs and medical supplies from manufacturers to hospitals and pharmacies.
One of China's largest pharmaceutical distributors, delivering drugs and medical supplies from manufacturers to hospitals and pharmacies.
Buys drugs and supplies from manufacturers and resells them to hospitals, clinics and pharmacies, keeping a small spread on large volumes while extending credit to customers, so working capital and volume matter more than price. Hospital procurement rules and national bulk drug-purchase programs shape the flow of business.
In one line: A Chinese McKesson/Cardinal Health.
Moat: narrow (scale, distribution, regulatory licence). Nationwide licensed distribution network and hospital relationships are costly to replicate.
Headquarters: Wuhan, Hubei, China · Employees: 29,862
Size Jointown Pharmaceutical (600998.SS) is a China Health Care company (Medical Distributors) with a market value of $3.96B, the 649th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.24 on 6 Nov 2026.
Performance Over six months the shares gained 1.4%, against +6.3% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +6.0%); the operating margin is 2.1% (peer median 3.2%).
Valuation It trades at 11.7× forward earnings against a peer median of 17.4× (2nd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.8 points below its cost of capital (5.0% WACC).
Next results Next results expected around 27 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥172B | CN¥161B | CN¥152B | CN¥150B | CN¥140B |
| Revenue growth | — | +6% | +1% | +7% | — |
| Gross profit | CN¥13.9B | CN¥11.7B | CN¥11.0B | CN¥11.3B | CN¥10.2B |
| EBITDA | n/a | CN¥4.21B | CN¥4.74B | CN¥4.78B | CN¥4.18B |
| Net income | CN¥1.96B | CN¥2.25B | CN¥2.51B | CN¥2.17B | CN¥2.08B |
| Free cash flow | CN¥2.60B | CN¥2.14B | CN¥2.17B | CN¥3.73B | CN¥2.79B |
| Capital expenditure | CN¥1.26B | CN¥1.40B | CN¥975M | CN¥1.05B | CN¥1.24B |
| Total debt | CN¥51.2B | CN¥49.2B | CN¥42.6B | CN¥38.8B | CN¥40.3B |
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 |
|---|---|---|---|---|---|---|
| Jointown Pharmaceutical 600998.SS | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% |
| Sinopharm 1099.HK | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% |
| China Resources Pharmaceutical 3320.HK | $3.74B | -11% | +8% | 4% | 6.0× | -5.3% |
| McKesson MCK | $124B | +44% | +9% | 2% | 21.8× | -4.8% |
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 | 600998.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | +3.4% | 11th highest of 21 |
| 6-month return | +1.4% | +6.3% | 9th lowest of 21 |
| Distance from 52-week high | -10.3% | -14.7% | 6th highest of 21 |
| Revenue growth (TTM) | +8.8% | +6.0% | 6th highest of 21 |
| Operating margin | 2.1% | 3.2% | 7th lowest of 21 |
| Forward P/E | 11.7× | 17.4× | 2nd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 0.1% | -1.4% | 6th most demanding of 17 |
| Growth delivered (Del g) | +7.8% | +4.6% | 5th highest of 17 |
| Hurdle (Req g minus delivered) | -7.7 pp | -9.1 pp | 9th least demanding of 17 |
| ROIC minus cost of capital | -0.8 pp | +1.6 pp | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jointown Pharmaceutical 600998.SS | China | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% | +7.8% |
| Amplifon AMP.MI | Italy | $3.72B | +13% | 0% | 9% | 18.1× | 9.5% | +9.8% |
| MEDIPAL 7459.T | Japan | $3.67B | +14% | +4% | 1% | 12.6× | -7.4% | +3.5% |
| COSMOS Pharmaceutical 3349.T | Japan | $3.20B | +5% | +9% | 4% | 15.7× | n/a | n/a |
| Asker Healthcare ASKER.ST | Sweden | $2.98B | -5% | +12% | 7% | 26.6× | 1.2% | +12.7% |
| Galenica GALE.SW | Switzerland | $5.46B | +8% | +6% | 5% | 23.4× | 6.9% | +3.5% |
| Alfresa 2784.T | Japan | $2.79B | -3% | +5% | 1% | 17.4× | -9.1% | +3.5% |
| Hanmi Science 008930.KS | South Korea | $2.71B | +44% | +6% | 5% | n/a | 24.2% | +9.6% |
| DKSH DKSH.SW | Switzerland | $6.10B | +29% | -1% | 3% | 21.5× | -1.4% | +0.6% |
| Sinopharm 1099.HK | Hong Kong | $6.83B | -4% | +3% | 3% | 6.3× | -8.1% | +4.0% |
| Suzuken 9987.T | Japan | $2.29B | -9% | +5% | 1% | 15.0× | -11.9% | +3.2% |
| Henry Schein HSIC | United States | $9.51B | +22% | +6% | 6% | 14.8× | 9.8% | +5.4% |
| Redcare Pharmacy RDC.DE | Germany | $1.63B | +52% | +19% | 0% | n/a | n/a | n/a |
| Toho 8129.T | Japan | $1.60B | -14% | +4% | 1% | 21.6× | -7.4% | +5.1% |
| Ship Healthcare 3360.T | Japan | $1.34B | +4% | +7% | 3% | 13.8× | -14.7% | +7.6% |
| Shanghai C and D INNOSTIC Medical Technology 301584.SZ | China | $1.20B | -28% | +8% | 3% | n/a | -1.3% | +17.9% |
| Shinva Medical Instrument 600587.SS | China | $1.16B | -7% | +6% | 5% | 14.2× | -5.9% | +1.2% |
| AS ONE 7476.T | Japan | $1.08B | +15% | +10% | 12% | 18.2× | -1.0% | +6.3% |
| Nanjing Pharmaceutical 600713.SS | China | $1.03B | +1% | +3% | 2% | n/a | n/a | n/a |
| DocMorris DOCM.SW | Switzerland | $1.02B | +136% | +11% | -8% | n/a | n/a | n/a |
| Arjo ARJO-B.ST | Sweden | $1.02B | +48% | 0% | 8% | 21.3× | -1.3% | +3.9% |