Employees: 3,495
Size Shanghai Kindly Enterprises Development (603987.SS) is a China Health Care company (Medical Specialties) with a market value of $474M, the 3985th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.23 on 6 Nov 2026.
Performance Over six months the shares fell 13.9%, against -15.0% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 0.2% over the last twelve months (peer median 0.0%); the operating margin is 11.2% (peer median 6.3%).
Valuation It trades at 1.6× enterprise value to sales against a peer median of 4.8× (5th 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 -3%, so the hurdle is +7 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 2.5 points below its cost of capital (7.7% WACC).
Next results Next results expected around 19 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.26B | CN¥2.28B | CN¥2.24B | CN¥2.43B | CN¥3.10B |
| Revenue growth | — | +2% | -8% | -22% | — |
| Gross profit | CN¥670M | CN¥685M | CN¥641M | CN¥705M | CN¥953M |
| EBITDA | CN¥414M | CN¥424M | CN¥382M | CN¥441M | CN¥535M |
| Net income | CN¥228M | CN¥240M | CN¥215M | CN¥231M | CN¥312M |
| Free cash flow | CN¥341M | CN¥261M | CN¥160M | CN¥222M | CN¥177M |
| Capital expenditure | CN¥109M | CN¥147M | CN¥144M | CN¥228M | CN¥296M |
| Total debt | CN¥708M | CN¥661M | CN¥726M | CN¥862M | CN¥881M |
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| Measure | 603987.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.4% | -6.0% | 9th highest of 21 |
| 6-month return | -13.9% | -15.0% | 10th highest of 21 |
| Distance from 52-week high | -24.7% | -37.7% | 3rd highest of 21 |
| Revenue growth (TTM) | +0.2% | 0.0% | 11th highest of 21 |
| Operating margin | 11.2% | 6.3% | 9th highest of 21 |
| EV / Sales | 1.6× | 4.8× | 5th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 3.8% | 15.5% | 3rd least demanding of 13 |
| Growth delivered (Del g) | -2.8% | +6.7% | 3rd lowest of 13 |
| Hurdle (Req g minus delivered) | +6.6 pp | +6.6 pp | 7th least demanding of 13 |
| ROIC minus cost of capital | -2.5 pp | -2.6 pp | 10th highest of 19 |
| EV / EBITDA | 8.9× | 30.0× | cheapest of 6 |
| Net debt / EBITDA | 0.6× | -1.2× | 2nd most indebted of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Kindly Enterprises Development 603987.SS | China | $474M | -14% | 0% | 11% | 1.6× | 3.8% | -2.8% |
| Guangdong Shirongzhaoye 002016.SZ | China | $473M | -28% | -31% | 3% | 4.0× | 22.2% | -11.7% |
| Huaren Pharmaceutical 300110.SZ | China | $472M | -16% | -3% | 6% | 3.5× | 6.7% | +0.3% |
| Shofu 7979.T | Japan | $475M | +27% | +7% | 14% | 1.6× | n/a | n/a |
| Guangzhou Jet Bio-Filtration 688026.SS | China | $471M | +40% | +5% | 11% | 5.2× | 22.1% | +2.2% |
| Jiangsu Huayang Intelligent Equipment 301502.SZ | China | $470M | +35% | -5% | 2% | 7.1× | 42.6% | +0.4% |
| China Isotope & Radiation 1763.HK | Hong Kong | $478M | -38% | -5% | 13% | n/a | n/a | n/a |
| Beijing Leadman Biochemistry 300289.SZ | China | $483M | -11% | -6% | -12% | 7.5× | 35.5% | -6.9% |
| MiMedx MDXG | United States | $483M | -8% | -23% | -8% | 1.2× | 11.5% | +11.0% |
| CellaVision CEVI.ST | Sweden | $485M | +68% | +2% | 23% | 6.0× | 6.5% | +10.0% |
| Jenscare Scientific 9877.HK | Hong Kong | $463M | -32% | +993% | -106% | 20.2× | n/a | n/a |
| WELL LEAD MEDICAL 603309.SS | China | $486M | -19% | +1% | 15% | 2.0× | -5.6% | +7.7% |
| AngioDynamics ANGO | United States | $493M | +5% | +8% | -6% | 1.4× | n/a | n/a |
| Eiken Chemical 4549.T | Japan | $454M | -29% | +4% | 6% | 1.5× | n/a | n/a |
| Revenio REG1V.HE | Finland | $494M | -22% | +16% | 14% | 5.5× | 19.3% | +12.4% |
| Hunan Sundy Science and Technology 300515.SZ | China | $453M | -13% | +10% | 27% | 3.7× | 0.9% | +15.6% |
| PROTEINA 468530.KS | South Korea | $450M | -2% | -59% | -1,178% | 410.3× | n/a | n/a |
| Brainsway Ltd Sponsored ADR BWAY | United States | $450M | -35% | +32% | 12% | 6.5× | 34.3% | +18.8% |
| Wuhan Easy Diagnosis Biomedicine 002932.SZ | China | $499M | -14% | -9% | -51% | n/a | n/a | n/a |
| Chison Medical Technologies 688358.SS | China | $443M | -16% | -1% | 19% | 4.4× | 11.8% | +5.6% |
| Guanhao Biotech 300238.SZ | China | $440M | -25% | -7% | 5% | 7.8× | n/a | n/a |