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Chinese maker of biomedical refrigeration equipment — ultra-low-temperature freezers and vaccine cold-chain systems — part of the Haier Group.
Chinese maker of biomedical refrigeration equipment — ultra-low-temperature freezers and vaccine cold-chain systems — part of the Haier Group.
Sells equipment into government-funded programs such as vaccine cold chains, and to labs and hospitals, so demand arrives in procurement waves; it surged during the pandemic vaccine rollouts. Haier Group, the home-appliance maker, is the controlling shareholder.
Moat: narrow (brand, scale, distribution). Haier Group brand and global distribution scale versus specialized biomedical refrigeration competitors.
Headquarters: Qingdao, China · Founded: 1996 · Employees: 2,945
Size Qingdao Haier Biomedical (688139.SS) is a China Industrials company (Industrial Machinery) with a market value of $1.58B, the 1553rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥33.38 on 6 Nov 2026.
Performance Over six months the shares gained 6.3%, against -17.0% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 12.2% over the last twelve months (peer median +14.4%); the operating margin is 8.6% (peer median 8.6%).
Valuation It trades at 36.5× forward earnings against a peer median of 20.3× (5th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +10 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 2.4 points below its cost of capital (8.9% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.53B | CN¥2.32B | CN¥2.27B | CN¥2.27B | CN¥2.84B |
| Revenue growth | — | +2% | 0% | -20% | — |
| Gross profit | CN¥1.24B | CN¥1.00B | CN¥1.01B | CN¥1.08B | CN¥1.32B |
| EBITDA | n/a | CN¥302M | CN¥404M | CN¥395M | CN¥608M |
| Net income | CN¥272M | CN¥251M | CN¥367M | CN¥406M | CN¥601M |
| Free cash flow | CN¥309M | CN¥171M | CN¥181M | CN¥114M | CN¥404M |
| Capital expenditure | CN¥90.3M | CN¥119M | CN¥127M | CN¥177M | CN¥294M |
| Total debt | CN¥206M | CN¥124M | CN¥113M | CN¥123M | CN¥175M |
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 |
|---|---|---|---|---|---|---|
| Qingdao Haier Biomedical 688139.SS | $1.58B | +6% | +12% | 9% | 36.5× | 20.7% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
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 | 688139.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.9% | -12.5% | 5th highest of 21 |
| 6-month return | +6.3% | -17.0% | 2nd highest of 20 |
| Distance from 52-week high | -14.0% | -43.7% | highest of 21 |
| Revenue growth (TTM) | +12.2% | +14.4% | 10th lowest of 21 |
| Operating margin | 8.6% | 8.6% | 11th highest of 21 |
| Forward P/E | 36.5× | 20.3× | 5th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 20.7% | 9.2% | 3rd most demanding of 14 |
| Growth delivered (Del g) | +10.8% | +9.9% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | +9.9 pp | -2.8 pp | 2nd most demanding of 14 |
| ROIC minus cost of capital | -2.4 pp | -2.5 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Qingdao Haier Biomedical 688139.SS | China | $1.58B | +6% | +12% | 9% | 36.5× | 20.7% | +10.8% |
| Tongyu Heavy Industry 300185.SZ | China | $1.59B | -17% | +6% | 4% | 43.7× | 6.3% | +3.1% |
| Tofflon Science and Technology 300171.SZ | China | $1.57B | +4% | -2% | 6% | 34.7× | 8.0% | +14.0% |
| Hunan Yujing Machinery 002943.SZ | China | $1.60B | -42% | -36% | -23% | 37.5× | n/a | n/a |
| Shanghai Highly (Group) 600619.SS | China | $1.57B | -33% | +3% | 3% | n/a | 8.6% | +13.1% |
| Zhejiang Jiecang Linear Motion Technology 603583.SS | China | $1.60B | -4% | +5% | 8% | 26.0× | n/a | n/a |
| Quick Intelligent Equipment 603203.SS | China | $1.57B | -12% | +20% | 21% | 39.3× | 28.7% | +15.2% |
| Okuma 6103.T | Japan | $1.56B | -16% | +15% | 9% | 10.4× | n/a | n/a |
| Helios Technologies HLIO | United States | $1.56B | -30% | +14% | 13% | 14.6× | 11.2% | +9.9% |
| Ningbo Haitian Precision Machinery 601882.SS | China | $1.56B | -1% | +19% | 11% | 20.0× | 12.8% | +15.6% |
| Precision Tsugami (China) 1651.HK | Hong Kong | $1.62B | -35% | +24% | 28% | 7.7× | -13.9% | +9.8% |
| KSB SE & Co. KGaA KSB.DE | Germany | $1.63B | -3% | +2% | 7% | 10.3× | -3.2% | +6.6% |
| CKD 6407.T | Japan | $1.54B | -40% | +11% | 14% | 10.8× | 12.4% | +8.1% |
| TerraVest Industries TVK.TO | Canada | $1.64B | -17% | +46% | 8% | 26.4× | 10.6% | +35.1% |
| Jirfine Intelligent Equipment 301603.SZ | China | $1.53B | -12% | +43% | 15% | n/a | 28.5% | +26.7% |
| Chang Wah Technology 6548.TWO | Taiwan | $1.65B | +9% | +25% | 15% | 17.5× | 9.2% | +6.8% |
| Rokae (Shandong) Robotics 3752.HK | Hong Kong | $1.52B | n/a | +105% | -5% | n/a | n/a | n/a |
| Shaanxi Aerospace Power Hi-Tech 600343.SS | China | $1.65B | -50% | -15% | -24% | n/a | n/a | n/a |
| Beijing Worldia Diamond Tools 688028.SS | China | $1.66B | -37% | +22% | 16% | 71.0× | n/a | n/a |
| Jiangsu Huahong Technology Stock 002645.SZ | China | $1.52B | -38% | +57% | 5% | 20.6× | n/a | n/a |
| Harbin Boshi Automation 002698.SZ | China | $1.66B | -15% | -2% | 18% | 19.3× | 5.3% | +9.1% |