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One of China's largest retail pharmacy chains, selling prescription and OTC medicines nationwide.
One of China's largest retail pharmacy chains, selling prescription and OTC medicines nationwide.
Earns the retail margin on drugs bought from manufacturers and distributors, with prescription and over-the-counter sales alongside higher-margin health and beauty items, partly paid through health insurance. It grows by opening stores and acquiring smaller chains, then centralising purchasing.
In one line: A China-focused CVS/Walgreens.
Moat: narrow (scale, distribution, regulatory licence). Large multi-province pharmacy network and drug-retail licences create scale advantages over independents.
Headquarters: Nanchang, Jiangxi, China · Employees: 38,953
Size Yifeng Pharmacy Chain (603939.SS) is a China Consumer Staples company (Drugstore Chains) with a market value of $4.91B, the 514th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥27.07 on 6 Nov 2026.
Performance Over six months the shares gained 16.7%, against +6.9% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 10 in its peer set.
Growth Revenue grew 5.3% over the last twelve months (peer median +8.7%); the operating margin is 10.3% (peer median 4.9%).
Valuation It trades at 17.2× forward earnings against a peer median of 16.7× (4th most expensive of 9).
Price implies For today's price to make sense, revenue must grow about -9% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.3 points above its cost of capital (5.6% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥25.4B | CN¥24.4B | CN¥24.0B | CN¥22.5B | CN¥19.8B |
| Revenue growth | — | +2% | +7% | +14% | — |
| Gross profit | CN¥10.9B | CN¥9.06B | CN¥9.05B | CN¥8.12B | CN¥7.46B |
| EBITDA | n/a | CN¥4.35B | CN¥4.37B | CN¥3.84B | CN¥3.51B |
| Net income | CN¥1.82B | CN¥1.68B | CN¥1.53B | CN¥1.41B | CN¥1.26B |
| Free cash flow | CN¥3.66B | CN¥3.16B | CN¥3.64B | CN¥3.92B | CN¥3.34B |
| Capital expenditure | CN¥320M | CN¥323M | CN¥683M | CN¥740M | CN¥588M |
| Total debt | CN¥9.38B | CN¥11.5B | CN¥13.0B | CN¥10.1B | CN¥8.62B |
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 |
|---|---|---|---|---|---|---|
| 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% |
| LBX Pharmacy Chain Joint Stock 603883.SS | $1.69B | +7% | +3% | 5% | 16.3× | -10.9% |
| JZJ Chain Drugstore Corporation 605266.SS | $307M | -34% | -5% | 0% | 6.5× | -9.6% |
| Yixintang Pharmaceutical 002727.SZ | $1.18B | +6% | -2% | 3% | 16.9× | -15.9% |
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 | 603939.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.0% | +5.6% | 2nd highest of 10 |
| 6-month return | +16.7% | +6.9% | 3rd highest of 10 |
| Distance from 52-week high | -2.2% | -16.3% | 2nd highest of 10 |
| Revenue growth (TTM) | +5.3% | +8.7% | 3rd lowest of 10 |
| Operating margin | 10.3% | 4.9% | highest of 10 |
| Forward P/E | 17.2× | 16.7× | 4th most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | -9.2% | -8.0% | 4th least demanding of 10 |
| Growth delivered (Del g) | +13.2% | +10.9% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | -22.4 pp | -20.6 pp | 3rd least demanding of 10 |
| ROIC minus cost of capital | +16.3 pp | +7.0 pp | 2nd highest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Yifeng Pharmacy Chain 603939.SS | China | $4.91B | +17% | +5% | 10% | 17.2× | -9.2% | +13.2% |
| DaShenLin Pharmaceutical 603233.SS | China | $3.80B | +15% | +7% | 8% | 16.6× | -9.0% | +13.6% |
| TSURUHA 3391.T | Japan | $6.74B | +15% | +114% | 4% | 22.2× | -2.3% | +9.6% |
| MatsukiyoCocokara & 3088.T | Japan | $6.78B | +17% | +5% | 8% | 17.5× | -6.2% | +15.5% |
| Sugi 7649.T | Japan | $3.27B | -23% | +9% | 5% | 16.8× | -9.7% | +10.9% |
| Sundrug 9989.T | Japan | $2.77B | -1% | +4% | 5% | 13.3× | -8.0% | +5.8% |
| Guardian Pharmacy Services GRDN | United States | $2.68B | +17% | +10% | 6% | 30.6× | 4.1% | +16.8% |
| 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% |