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Major Chinese retail pharmacy chain ('Laobaixing'), one of the country's largest drugstore networks.
Major Chinese retail pharmacy chain ('Laobaixing'), one of the country's largest drugstore networks.
Earns by buying medicines and health products from suppliers and reselling them through its stores, often paid for through state medical-insurance accounts. Growth has come largely from opening new stores and buying local chains, and the group's home base is Changsha in Hunan.
In one line: A China-focused CVS/Walgreens.
Moat: narrow (scale, distribution, regulatory licence). One of China's largest pharmacy networks, giving procurement scale over independents.
Headquarters: Changsha, Hunan, China · Employees: 36,892
Size LBX Pharmacy Chain Joint Stock (603883.SS) is a China Consumer Staples company (Drugstore Chains) with a market value of $1.69B, the 1471st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.97 on 6 Nov 2026.
Performance Over six months the shares gained 6.9%, against +2.9% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 18 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +8.4%); the operating margin is 4.9% (peer median 4.8%).
Valuation It trades at 16.3× forward earnings against a peer median of 16.8× (5th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -11% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -21 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.8 points above its cost of capital (5.7% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥22.8B | CN¥22.2B | CN¥22.3B | CN¥22.4B | CN¥20.1B |
| Revenue growth | — | -1% | 0% | +11% | — |
| Gross profit | CN¥7.33B | CN¥5.52B | CN¥7.21B | CN¥5.80B | CN¥5.09B |
| EBITDA | n/a | CN¥2.65B | CN¥2.78B | CN¥2.90B | CN¥2.70B |
| Net income | CN¥471M | CN¥382M | CN¥519M | CN¥929M | CN¥785M |
| Free cash flow | CN¥3.02B | CN¥2.89B | CN¥1.52B | CN¥2.12B | CN¥2.02B |
| Capital expenditure | CN¥165M | CN¥253M | CN¥508M | CN¥621M | CN¥308M |
| Total debt | CN¥8.10B | CN¥9.57B | CN¥10.3B | CN¥9.86B | CN¥10.1B |
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 |
|---|---|---|---|---|---|---|
| LBX Pharmacy Chain Joint Stock 603883.SS | $1.69B | +7% | +3% | 5% | 16.3× | -10.9% |
| Yifeng Pharmacy Chain 603939.SS | $4.91B | +17% | +5% | 10% | 17.2× | -9.2% |
| DaShenLin Pharmaceutical 603233.SS | $3.80B | +15% | +7% | 8% | 16.6× | -9.0% |
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 | 603883.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.7% | +3.8% | 4th highest of 18 |
| 6-month return | +6.9% | +2.9% | 8th highest of 18 |
| Distance from 52-week high | -16.6% | -21.1% | 9th highest of 18 |
| Revenue growth (TTM) | +2.8% | +8.4% | 3rd lowest of 18 |
| Operating margin | 4.9% | 4.8% | 8th highest of 18 |
| Forward P/E | 16.3× | 16.8× | 5th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -10.9% | -6.3% | 4th least demanding of 17 |
| Growth delivered (Del g) | +9.7% | +11.7% | 8th lowest of 17 |
| Hurdle (Req g minus delivered) | -20.6 pp | -16.7 pp | 7th least demanding of 17 |
| ROIC minus cost of capital | +6.8 pp | +6.9 pp | 9th lowest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| LBX Pharmacy Chain Joint Stock 603883.SS | China | $1.69B | +7% | +3% | 5% | 16.3× | -10.9% | +9.7% |
| Create SD 3148.T | Japan | $1.30B | -2% | +9% | 5% | n/a | -11.5% | +8.0% |
| Ain 9627.T | Japan | $1.23B | -2% | +42% | 4% | 13.4× | -6.5% | +16.9% |
| Yixintang Pharmaceutical 002727.SZ | China | $1.18B | +6% | -2% | 3% | 16.9× | -15.9% | +6.5% |
| Guardian Pharmacy Services GRDN | United States | $2.68B | +17% | +10% | 6% | 30.6× | 4.1% | +16.8% |
| Sundrug 9989.T | Japan | $2.77B | -1% | +4% | 5% | 13.3× | -8.0% | +5.8% |
| Sugi 7649.T | Japan | $3.27B | -23% | +9% | 5% | 16.8× | -9.7% | +10.9% |
| Shu Yu Civilian Pharmacy 301017.SZ | China | $872M | +9% | +9% | 2% | n/a | 4.0% | +17.4% |
| Anhui Huaren Health Pharmaceutical 301408.SZ | China | $829M | -35% | +15% | 8% | n/a | -6.0% | +23.3% |
| MedPlus Health Services MEDPLUS.NS | India | $769M | -31% | +21% | 4% | 35.1× | 18.5% | +17.6% |
| DaShenLin Pharmaceutical 603233.SS | China | $3.80B | +15% | +7% | 8% | 16.6× | -9.0% | +13.6% |
| Genky DrugStores 9267.T | Japan | $723M | +3% | +8% | 5% | 13.7× | n/a | n/a |
| Beijing Konruns Pharmaceutical 603590.SS | China | $617M | -28% | +4% | 20% | 21.0× | 11.6% | +2.7% |
| Yifeng Pharmacy Chain 603939.SS | China | $4.91B | +17% | +5% | 10% | 17.2× | -9.2% | +13.2% |
| Cawachi 2664.T | Japan | $577M | +37% | -1% | 2% | n/a | -5.8% | 0.0% |
| Qol 3034.T | Japan | $567M | +38% | +7% | 6% | 11.3× | -16.2% | +12.4% |
| Luyan Pharma 002788.SZ | China | $555M | -30% | +3% | 3% | n/a | 0.1% | +6.5% |
| TSURUHA 3391.T | Japan | $6.74B | +15% | +114% | 4% | 22.2× | -2.3% | +9.6% |