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Chinese laboratory-animal model provider, breeding genetically engineered mice for biomedical research and drug development.
Chinese laboratory-animal model provider, breeding genetically engineered mice for biomedical research and drug development.
Sells live mice from a stock catalogue of its genetically engineered strains, a repeat revenue source because labs reorder animals for experiments, with custom model creation and testing services as add-ons. Sales go mainly to pharma, biotech and research institutes in China, so R&D budgets decide demand.
In one line: A Chinese Jackson Laboratory / Charles River mouse-model business.
Moat: narrow (scale, installed base, process know-how). Large, standardized mouse-model catalog and breeding scale that is slow for customers to replicate in-house.
Headquarters: Nanjing, China · Employees: 1,590
Size GemPharmatech (688046.SS) is a China Health Care company (Biotechnology) with a market value of $2.01B, the 1254th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥32.70 on 6 Nov 2026.
Performance Over six months the shares gained 58.7%, against +12.6% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 25.0% over the last twelve months (peer median +22.1%); the operating margin is 22.3% (peer median -13.4%).
Valuation It trades at 58.7× forward earnings against a peer median of 44.5× (3rd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 36% a year for seven years (Req g). Recent delivered growth is +25%, 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 2.5 points above its cost of capital (12.6% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥941M | CN¥792M | CN¥687M | CN¥622M | CN¥516M |
| Revenue growth | — | +15% | +10% | +20% | — |
| Gross profit | CN¥684M | CN¥502M | CN¥421M | CN¥418M | CN¥367M |
| EBITDA | n/a | CN¥243M | CN¥188M | CN¥173M | CN¥147M |
| Net income | CN¥203M | CN¥143M | CN¥110M | CN¥159M | CN¥165M |
| Free cash flow | CN¥280M | CN¥139M | -CN¥2,830 | -CN¥78.4M | -CN¥74.1M |
| Capital expenditure | CN¥71.1M | CN¥105M | CN¥114M | CN¥206M | CN¥190M |
| Total debt | CN¥209M | CN¥291M | CN¥132M | CN¥122M | CN¥17.9M |
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 |
|---|---|---|---|---|---|---|
| GemPharmatech 688046.SS | $2.01B | +59% | +25% | 22% | 58.7× | 35.7% |
| Charles River Laboratories CRL | $16.1B | +90% | -1% | 15% | 26.6× | 25.3% |
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 | 688046.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.9% | +2.9% | 5th lowest of 21 |
| 6-month return | +58.7% | +12.6% | 4th highest of 21 |
| Distance from 52-week high | -24.8% | -28.5% | 8th highest of 21 |
| Revenue growth (TTM) | +25.0% | +22.1% | 8th highest of 17 |
| Operating margin | 22.3% | -13.4% | 5th highest of 16 |
| Forward P/E | 58.7× | 44.5× | 3rd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 35.7% | 12.5% | 2nd most demanding of 6 |
| Growth delivered (Del g) | +24.8% | +41.4% | 3rd lowest of 6 |
| Hurdle (Req g minus delivered) | +10.8 pp | -32.0 pp | 3rd most demanding of 6 |
| ROIC minus cost of capital | +2.5 pp | -12.1 pp | 4th highest of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GemPharmatech 688046.SS | China | $2.01B | +59% | +25% | 22% | 58.7× | 35.7% | +24.8% |
| First Tracks Biotherapeutics TRAX | United States | $2.01B | +145% | n/a | n/a | n/a | n/a | n/a |
| Trevi Therapeutics TRVI | United States | $2.04B | -1% | n/a | n/a | n/a | n/a | n/a |
| Replimune REPL | United States | $2.05B | +547% | n/a | n/a | n/a | n/a | n/a |
| BioCryst Pharmaceuticals BCRX | United States | $1.97B | -11% | +60% | 42% | 11.6× | -10.6% | +117.9% |
| Vir Biotechnology VIR | United States | $2.07B | +34% | +1,496% | -92% | n/a | n/a | n/a |
| Maravai Lifesciences MRVI | United States | $1.95B | +108% | -3% | -13% | n/a | n/a | n/a |
| Alamar Biosciences ALMR | United States | $1.95B | +17% | +195% | -42% | n/a | n/a | n/a |
| Shenzhen Kangtai Biological Products 300601.SZ | China | $2.11B | -9% | -9% | 6% | 119.7× | 25.3% | +3.4% |
| Hitgen 688222.SS | China | $2.12B | +23% | +42% | 27% | 94.1× | 38.7% | +16.8% |
| Alvotech ALVO | United States | $1.90B | +49% | -12% | 9% | 51.5× | n/a | n/a |
| Vera Therapeutics VERA | United States | $2.15B | -18% | n/a | n/a | n/a | n/a | n/a |
| Lakefront Biotherapeutics LKFT.AS | Netherlands | $2.19B | +25% | +259% | 60% | n/a | n/a | n/a |
| Recursion Pharmaceuticals RXRX | United States | $2.19B | +6% | +56% | -725% | n/a | n/a | n/a |
| Zenas BioPharma ZBIO | United States | $1.84B | +44% | -93% | -27,390% | n/a | n/a | n/a |
| Aurinia Pharmaceuticals AUPH | United States | $2.21B | +8% | +21% | 45% | 19.7× | 5.1% | +41.4% |
| Immunome IMNM | United States | $2.21B | -17% | -100% | n/a | n/a | n/a | n/a |
| Mesoblast MSB.AX | Australia | $1.83B | 0% | +556% | -43% | n/a | n/a | n/a |
| SKBS 302440.KS | South Korea | $2.22B | -11% | +23% | -25% | n/a | n/a | n/a |
| Sinocelltech 688520.SS | China | $2.25B | -23% | -40% | -75% | n/a | n/a | n/a |
| Vimian VIMIAN.ST | Sweden | $2.26B | +41% | +8% | 19% | 37.5× | 12.5% | +44.5% |