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Chinese contract research organization running preclinical safety and non-human-primate studies for global drug developers.
Chinese contract research organization running preclinical safety and non-human-primate studies for global drug developers.
Charges a fee per study run on a drug developer's behalf, such as safety and toxicology tests, so income follows how many drug programmes its clients start and how well biotech funding holds up. Its own primate colony helps secure capacity. This is the Hong Kong listing of the same company as the Shanghai-listed A-share.
In one line: China's Charles River Laboratories.
Moat: narrow (scale, regulatory licence, installed base). Large GLP-certified capacity and primate colonies are hard to replicate, but competes with global CROs.
Headquarters: Beijing, China · Employees: 2,649
Size JOINN Laboratories (China) (6127.HK) is a Hong Kong Health Care company (Biotechnology) with a market value of $4.43B, the 277th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$23.76 on 6 Nov 2026.
Performance Over six months the shares gained 9.4%, against -1.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 16.7% over the last twelve months (peer median +8.3%); the operating margin is -3.6% (peer median -35.0%).
Valuation It trades at 18.6× forward earnings against a peer median of 31.9× (3rd cheapest of 7).
Capital Return on invested capital runs 12.0 points below its cost of capital (12.6% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.10B | HK$1.80B | HK$2.19B | HK$2.63B | HK$2.63B |
| Revenue growth | — | -18% | -17% | 0% | — |
| Gross profit | HK$620M | HK$328M | HK$577M | HK$1.09B | HK$1.21B |
| EBITDA | n/a | HK$36.7M | HK$236M | HK$793M | HK$958M |
| Net income | HK$1.31B | HK$323M | HK$80.3M | HK$439M | HK$1.25B |
| Free cash flow | HK$745M | HK$408M | HK$287M | HK$503M | HK$859M |
| Capital expenditure | HK$526M | HK$156M | HK$292M | HK$213M | HK$320M |
| Total debt | HK$43.4M | HK$24.1M | HK$64.9M | HK$94.5M | HK$135M |
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 |
|---|---|---|---|---|---|---|
| JOINN Laboratories (China) 6127.HK | $4.43B | +9% | +17% | -4% | 18.6× | n/a |
| Charles River Laboratories CRL | $16.1B | +90% | -1% | 15% | 26.6× | 25.3% |
| Wuxi Apptec 2359.HK | $66.3B | +40% | +38% | 44% | 20.4× | 8.7% |
| Pharmaron Beijing 3759.HK | $11.3B | +45% | +24% | 14% | 22.9× | n/a |
| Labcorp LH | $29.8B | +45% | +6% | 11% | 19.0× | 13.9% |
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 | 6127.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -19.5% | +3.8% | lowest of 21 |
| 6-month return | +9.4% | -1.2% | 10th highest of 21 |
| Distance from 52-week high | -27.1% | -23.5% | 9th lowest of 21 |
| Revenue growth (TTM) | +16.7% | +8.3% | 7th highest of 16 |
| Operating margin | -3.6% | -35.0% | 7th highest of 16 |
| Forward P/E | 18.6× | 31.9× | 3rd cheapest of 7 |
| ROIC minus cost of capital | -12.0 pp | -11.2 pp | 7th lowest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JOINN Laboratories (China) 6127.HK | Hong Kong | $4.43B | +9% | +17% | -4% | 18.6× | n/a | n/a |
| Adaptive Biotechnologies ADPT | United States | $4.47B | +103% | +50% | -12% | n/a | n/a | n/a |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -1% | 30.2× | 32.2% | +7.1% |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -35% | n/a | n/a | n/a |
| Relay Therapeutics RLAY | United States | $4.08B | +46% | +24% | -2,999% | n/a | n/a | n/a |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -11,441% | n/a | n/a | n/a |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -2,059% | n/a | n/a | n/a |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 17% | 13.7× | n/a | n/a |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | n/a | n/a | n/a | n/a |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 61% | 13.7× | n/a | n/a |
| AbCellera Biologics ABCL | United States | $3.85B | +149% | +101% | -340% | n/a | n/a | n/a |
| Beijing Tiantan Biological Products 600161.SS | China | $3.76B | -11% | -13% | 21% | 33.6× | 3.2% | +12.5% |
| Lin BioScience 6696.TWO | Taiwan | $3.74B | +129% | n/a | n/a | n/a | n/a | n/a |
| Chongqing Zhifei Biological Products 300122.SZ | China | $5.35B | -2% | -28% | -210% | n/a | -6.4% | -10.0% |
| Iovance Biotherapeutics IOVA | United States | $3.64B | +64% | +35% | -91% | n/a | n/a | n/a |
| Tango Therapeutics TNGX | United States | $3.63B | -7% | +121% | -253% | n/a | n/a | n/a |
| Enliven Therapeutics ELVN | United States | $3.62B | +21% | n/a | n/a | n/a | n/a | n/a |
| Anthem Biosciences ANTHEM.NS | India | $5.46B | +17% | -1% | 35% | 69.9× | 36.7% | +26.2% |
| Cogent Biosciences COGT | United States | $5.49B | -9% | n/a | n/a | n/a | n/a | n/a |
| Hangzhou Tigermed Consulting 300347.SZ | China | $5.58B | -6% | +16% | 10% | 110.0× | 28.4% | +16.4% |
| Disc Medicine IRON | United States | $3.50B | +16% | n/a | n/a | n/a | n/a | n/a |