Employees: 1,522
Size Qingdao Vland Biotech (603739.SS) is a China Health Care company (Biotechnology) with a market value of $450M, the 4103rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.86 on 6 Nov 2026.
Performance Over six months the shares fell 21.2%, against -5.3% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 5.4% over the last twelve months (peer median +3.6%); the operating margin is 6.6% (peer median -15.6%).
Valuation It trades at 33.9× forward earnings against a peer median of 43.8× (3rd cheapest of 6).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +11 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 3.6 points below its cost of capital (6.8% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.42B | CN¥1.36B | CN¥1.31B | CN¥1.20B | CN¥1.15B |
| Revenue growth | — | +4% | +9% | +4% | — |
| Gross profit | CN¥570M | CN¥547M | CN¥523M | CN¥515M | CN¥465M |
| EBITDA | CN¥212M | CN¥205M | CN¥226M | CN¥179M | CN¥141M |
| Net income | CN¥81.7M | CN¥69.8M | CN¥62.6M | CN¥80.7M | CN¥69.8M |
| Free cash flow | CN¥98.8M | CN¥40.2M | CN¥107M | -CN¥54.3M | -CN¥254M |
| Capital expenditure | CN¥67.0M | CN¥80.0M | CN¥105M | CN¥216M | CN¥342M |
| Total debt | CN¥678M | CN¥695M | CN¥659M | CN¥734M | CN¥538M |
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| Measure | 603739.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -13.5% | -13.6% | 11th highest of 21 |
| 6-month return | -21.2% | -5.3% | 4th lowest of 20 |
| Distance from 52-week high | -35.6% | -33.2% | 10th lowest of 21 |
| Revenue growth (TTM) | +5.4% | +3.6% | 8th highest of 16 |
| Operating margin | 6.6% | -15.6% | 4th highest of 16 |
| Forward P/E | 33.9× | 43.8× | 3rd cheapest of 6 |
| Growth the price implies (Req g, 7 yrs) | 18.2% | 10.6% | 3rd most demanding of 7 |
| Growth delivered (Del g) | +7.3% | -1.4% | 3rd highest of 7 |
| Hurdle (Req g minus delivered) | +10.9 pp | +18.5 pp | 2nd least demanding of 7 |
| ROIC minus cost of capital | -3.6 pp | -10.2 pp | 3rd highest of 17 |
| EV / EBITDA | 15.4× | n/a | — |
| Net debt / EBITDA | 1.0× | -1.8× | 2nd most indebted of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Qingdao Vland Biotech 603739.SS | China | $450M | -21% | +5% | 7% | 33.9× | 18.2% | +7.3% |
| TaiMed Biologics 4147.TWO | Taiwan | $454M | +10% | +4% | -30% | n/a | 31.8% | -3.3% |
| Shanghai Shen Lian Biomedical 688098.SS | China | $444M | -18% | -17% | -16% | n/a | n/a | n/a |
| Wuhan Hiteck Biological Pharma 300683.SZ | China | $443M | -36% | -30% | -27% | n/a | n/a | n/a |
| Steminent Biotherapeutics 7729.TWO | Taiwan | $458M | +139% | n/a | n/a | n/a | n/a | n/a |
| TenNor Therapeutics Suzhou 6872.HK | Hong Kong | $440M | n/a | n/a | n/a | n/a | n/a | n/a |
| Komipharm International 041960.KS | South Korea | $460M | -12% | -3% | 2% | n/a | n/a | n/a |
| Ever Supreme Bio Technology 6712.TWO | Taiwan | $439M | +9% | +13% | 47% | 28.6× | 5.8% | +70.5% |
| Shanghai Obio Technology (Group) 688238.SS | China | $462M | -4% | +20% | -79% | n/a | n/a | n/a |
| Shattuck Labs STTK | United States | $464M | -33% | -67% | -5,571% | n/a | n/a | n/a |
| Eupraxia Pharmaceuticals EPRX.TO | Canada | $466M | -5% | n/a | n/a | n/a | n/a | n/a |
| Medigen Vaccine Biologics 6547.TWO | Taiwan | $467M | -5% | +44% | 10% | 187.6× | n/a | n/a |
| Jacobio Pharmaceuticals 1167.HK | Hong Kong | $468M | -27% | +286% | 68% | 6.3× | -14.9% | -36.1% |
| Shanghai ZJ Bio-Tech 688317.SS | China | $468M | -16% | -18% | -75% | n/a | 6.0% | -62.3% |
| Hanx Biopharmaceuticals (Wuhan) 3378.HK | Hong Kong | $469M | -13% | n/a | n/a | n/a | n/a | n/a |
| Hubei Goto Biopharm 300966.SZ | China | $427M | -7% | +6% | -10% | n/a | n/a | n/a |
| EirGenix 6589.TW | Taiwan | $427M | +2% | +27% | -71% | n/a | n/a | n/a |
| Polynovo PNV.AX | Australia | $426M | -12% | +13% | 5% | 89.0× | 53.3% | +37.6% |
| Monopar Therapeutics MNPR | United States | $479M | +12% | n/a | n/a | n/a | n/a | n/a |
| CHO Pharma 6586.TWO | Taiwan | $480M | +57% | -47% | -17,694% | n/a | n/a | n/a |
| Scinopharm Taiwan 1789.TW | Taiwan | $482M | -1% | -5% | -4% | 43.8× | 15.2% | +0.5% |