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One of China's largest pharma distributors, also manufacturing generic and branded drugs.
One of China's largest pharma distributors, also manufacturing generic and branded drugs.
Distribution brings most of the revenue but at thin margins, as it earns the mark-up between drug makers and hospitals; manufacturing is smaller but more profitable. Hospital sales depend on provincial tenders and national volume-based buying programmes that cut drug prices. Shanghai Pharmaceuticals Group, owned by the Shanghai city government, is the main shareholder.
In one line: China's McKesson, with an in-house drugmaker attached.
Moat: narrow (scale, distribution, regulatory licence). One of China's 'big four' pharma distributors with a nationwide logistics network.
Headquarters: Shanghai, China · Founded: 1998 · Employees: 49,608
Size Shanghai Pharmaceuticals (601607.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $8.32B, the 301st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.76 on 6 Nov 2026.
Performance Over six months the shares fell 1.9%, against +14.2% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 3.8% over the last twelve months (peer median +16.5%); the operating margin is 3.0% (peer median 15.0%).
Valuation It trades at 11.4× forward earnings against a peer median of 30.9× (2nd cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥291B | CN¥283B | CN¥275B | CN¥260B | CN¥231B |
| Revenue growth | — | +3% | +6% | +12% | — |
| Gross profit | CN¥32.3B | CN¥28.0B | CN¥28.4B | CN¥29.0B | CN¥28.4B |
| EBITDA | n/a | CN¥11.2B | CN¥11.3B | CN¥10.6B | CN¥10.3B |
| Net income | CN¥5.16B | CN¥5.72B | CN¥4.55B | CN¥3.77B | CN¥5.62B |
| Free cash flow | CN¥7.39B | CN¥4.36B | CN¥4.77B | CN¥3.24B | CN¥2.94B |
| Capital expenditure | CN¥2.26B | CN¥2.33B | CN¥2.40B | CN¥2.97B | CN¥2.68B |
| Total debt | CN¥59.1B | CN¥66.1B | CN¥63.9B | CN¥58.6B | CN¥50.5B |
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 |
|---|---|---|---|---|---|---|
| Shanghai Pharmaceuticals 601607.SS | $8.32B | -2% | +4% | 3% | 11.4× | -10.0% |
| 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% |
| Jointown Pharmaceutical 600998.SS | $3.96B | +1% | +9% | 2% | 11.7× | 0.1% |
| Shanghai Fosun Pharmaceutical (Group) 600196.SS | $8.70B | -5% | +8% | 6% | 17.0× | 4.1% |
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 | 601607.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.8% | +5.9% | 8th lowest of 21 |
| 6-month return | -1.9% | +14.2% | 7th lowest of 21 |
| Distance from 52-week high | -9.7% | -16.5% | 9th highest of 21 |
| Revenue growth (TTM) | +3.8% | +16.5% | 5th lowest of 20 |
| Operating margin | 3.0% | 15.0% | 5th lowest of 19 |
| Forward P/E | 11.4× | 30.9× | 2nd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -10.0% | 15.0% | least demanding of 13 |
| Growth delivered (Del g) | +8.1% | +9.3% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | -18.1 pp | -2.6 pp | 3rd least demanding of 13 |
| ROIC minus cost of capital | +1.6 pp | +4.6 pp | 7th lowest of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Pharmaceuticals 601607.SS | China | $8.32B | -2% | +4% | 3% | 11.4× | -10.0% | +8.1% |
| Asymchem Laboratories (Tianjin) 6821.HK | Hong Kong | $8.19B | +22% | +24% | 17% | 29.2× | n/a | n/a |
| ALK-abello A/S ALK-B.CO | Denmark | $8.14B | -5% | +17% | 27% | 35.7× | 7.6% | +12.6% |
| Protagonist Therapeutics PTGX | United States | $8.54B | +33% | +35% | 21% | 48.4× | 47.5% | +10.0% |
| Kyowa Kirin 4151.T | Japan | $8.05B | +4% | +10% | 24% | 15.6× | -6.1% | +9.3% |
| H. Lundbeck A/S HLUN-A.CO | Denmark | $8.02B | +47% | +9% | 27% | n/a | -9.1% | +6.6% |
| Corcept Therapeutics CORT | United States | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% | +16.6% |
| Shanghai Fosun Pharmaceutical (Group) 2196.HK | Hong Kong | $8.69B | -10% | +10% | 6% | 10.4× | 20.5% | +5.8% |
| Rhythm Pharmaceuticals RYTM | United States | $7.78B | +19% | +61% | -67% | n/a | n/a | n/a |
| Praxis Precision Medicines PRAX | United States | $7.75B | -16% | -100% | n/a | n/a | n/a | n/a |
| Glenmark Pharmaceuticals GLENMARK.NS | India | $7.73B | +9% | +33% | 20% | 32.0× | 20.0% | +9.4% |
| Alkermes Public ALKS | United States | $7.71B | +31% | +15% | 5% | n/a | 31.5% | +7.3% |
| ImmunityBio IBRX | United States | $9.15B | +1% | +193% | -152% | n/a | n/a | n/a |
| TG Therapeutics TGTX | United States | $9.16B | +40% | +76% | 17% | 30.9× | 50.3% | +426.7% |
| Grifols GRF.MC | Spain | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% | +7.1% |
| Cytokinetics CYTK | United States | $7.46B | -30% | -21% | -1,046% | n/a | n/a | n/a |
| Madrigal Pharmaceuticals MDGL | United States | $9.28B | -22% | +93% | -11% | 79.5× | n/a | n/a |
| Kiniksa Pharmaceuticals International KNSA | United States | $7.37B | +60% | +58% | 14% | 61.7× | 9.9% | +45.5% |
| Bachem BANB.SW | Switzerland | $7.32B | +3% | +5% | 19% | 33.1× | n/a | n/a |
| Huadong Medicine 000963.SZ | China | $7.29B | -17% | +2% | 9% | 14.0× | -2.7% | +5.3% |
| Spyre Therapeutics SYRE | United States | $9.86B | +38% | n/a | n/a | n/a | n/a | n/a |