Jiangxi-based pharmaceutical manufacturer selling generic and traditional-medicine drugs in China.
Jiangxi-based pharmaceutical manufacturer selling generic and traditional-medicine drugs in China.
Moat: none
Headquarters: Jiangxi, China · Employees: 2,893
Size JiangXi Tianxin Pharmaceutical (603235.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $1.60B, the 1538th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥24.57 on 6 Nov 2026.
Performance Over six months the shares fell 4.8%, against +1.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 16.3% over the last twelve months (peer median +5.3%); the operating margin is 24.4% (peer median 10.4%).
Valuation It trades at 3.7× enterprise value to sales against a peer median of 4.0× (10th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.3 points above its cost of capital (5.1% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.58B | CN¥2.33B | CN¥2.20B | CN¥1.87B | CN¥2.29B |
| Revenue growth | — | +6% | +17% | -18% | — |
| Gross profit | CN¥1.19B | CN¥947M | CN¥891M | CN¥689M | CN¥833M |
| EBITDA | n/a | CN¥825M | CN¥774M | CN¥550M | CN¥701M |
| Net income | CN¥552M | CN¥592M | CN¥651M | CN¥476M | CN¥622M |
| Free cash flow | CN¥381M | CN¥48.7M | -CN¥567M | CN¥194M | CN¥346M |
| Capital expenditure | CN¥326M | CN¥581M | CN¥1.07B | CN¥536M | CN¥260M |
| Total debt | CN¥549M | CN¥445M | CN¥204M | CN¥170M | CN¥68.1M |
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| Measure | 603235.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.7% | +3.6% | 3rd lowest of 21 |
| 6-month return | -4.8% | +1.5% | 8th lowest of 20 |
| Distance from 52-week high | -14.5% | -19.8% | 6th highest of 21 |
| Revenue growth (TTM) | +16.3% | +5.3% | 6th highest of 19 |
| Operating margin | 24.4% | 10.4% | 3rd highest of 19 |
| EV / Sales | 3.7× | 4.0× | 10th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -4.1% | 11.0% | 5th least demanding of 13 |
| Growth delivered (Del g) | +0.2% | +11.7% | 4th lowest of 13 |
| Hurdle (Req g minus delivered) | -4.3 pp | -2.1 pp | 6th least demanding of 13 |
| ROIC minus cost of capital | +10.3 pp | +1.3 pp | 5th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JiangXi Tianxin Pharmaceutical 603235.SS | China | $1.60B | -5% | +16% | 24% | 3.7× | -4.1% | +0.2% |
| Eton Pharmaceuticals ETON | United States | $1.61B | +236% | +81% | 16% | 15.3× | 39.6% | +359.6% |
| Mayinglong Pharmaceutical 600993.SS | China | $1.62B | -4% | +7% | 17% | 2.2× | -4.5% | +6.8% |
| LigaChem Biosciences 141080.KS | South Korea | $1.59B | -68% | -33% | -208% | 18.4× | n/a | n/a |
| Jubilant Pharmova JUBLPHARMA.NS | India | $1.58B | -4% | +16% | 9% | 1.7× | n/a | n/a |
| Xiamen Kingdomway 002626.SZ | China | $1.58B | +15% | -3% | 11% | 3.4× | n/a | n/a |
| Corona Remedies CORONA.NS | India | $1.58B | +40% | +17% | 18% | 9.6× | 37.6% | +16.6% |
| Zhejiang CONBA Pharmaceutical 600572.SS | China | $1.56B | -5% | +4% | 9% | 1.5× | -5.8% | +1.9% |
| Indegene INDGN.NS | India | $1.56B | +15% | +36% | 12% | 3.3× | 29.6% | +29.4% |
| Consun Pharmaceutical 1681.HK | Hong Kong | $1.65B | +5% | +15% | 35% | 2.2× | -15.1% | +13.5% |
| Chongqing Lummy Pharmaceutical 300006.SZ | China | $1.55B | +53% | -6% | -19% | 13.6× | 49.9% | -13.2% |
| Nanobiotix NANO.PA | France | $1.54B | -42% | -77% | -392% | 164.1× | n/a | n/a |
| Shanghai Shyndec Pharmaceutical 600420.SS | China | $1.67B | -14% | -13% | 6% | 1.2× | -6.0% | -5.6% |
| Yantai Dongcheng Biochemicals 002675.SZ | China | $1.67B | +1% | -4% | 15% | 4.7× | 6.7% | -4.3% |
| Braveheart Bio BRVE | United States | $1.67B | n/a | n/a | n/a | n/a | n/a | n/a |
| NATCO Pharma NATCOPHARM.NS | India | $1.68B | -30% | -21% | 25% | 4.5× | 15.3% | +19.0% |
| AstraZeneca Pharma India ASTRAZEN.NS | India | $1.69B | -25% | +31% | 10% | 6.5× | 49.3% | +23.0% |
| Guangdong Taienkang Pharmaceutical 301263.SZ | China | $1.53B | -17% | +2% | -2% | 15.1× | n/a | n/a |
| Ultragenyx Pharmaceutical RARE | United States | $1.52B | +22% | +16% | -64% | 3.3× | n/a | n/a |
| SELLAS Life Sciences SLS | United States | $1.70B | +68% | n/a | n/a | n/a | n/a | n/a |
| Faes Farma FAE.MC | Spain | $1.71B | +5% | +32% | 14% | 2.6× | 3.1% | +9.9% |