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Chinese contract research organization (CRO) providing drug-discovery and preclinical testing services.
Chinese contract research organization (CRO) providing drug-discovery and preclinical testing services.
Paid per project or per study, mainly by drug developers, so demand follows biotech funding and R&D budgets. Early chemistry and biology work tends to lead customers to keep using it for later safety studies, which keeps clients through a drug's development. Customers are in both China and overseas.
In one line: A China-based WuXi AppTec-style CRO (smaller).
Moat: narrow (scale, customer qualification). Established CRO with qualified GLP labs; switching CROs mid-program is costly.
Headquarters: Shanghai, China · Employees: 2,504
Size Shanghai Medicilon (688202.SS) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $1.47B, the 1662nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥74.38 on 6 Nov 2026.
Performance Over six months the shares gained 17.6%, against -10.1% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 42.3% over the last twelve months (peer median +2.3%); the operating margin is -1.6% (peer median 8.4%).
Valuation It trades at 91.8× forward earnings against a peer median of 15.0× (2nd most expensive of 17).
Capital Return on invested capital runs 10.6 points below its cost of capital (13.8% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.54B | CN¥1.16B | CN¥1.04B | CN¥1.37B | CN¥1.66B |
| Revenue growth | — | +12% | -24% | -18% | — |
| Gross profit | CN¥486M | CN¥175M | CN¥40.3M | CN¥302M | CN¥658M |
| EBITDA | n/a | -CN¥44.4M | -CN¥219M | CN¥65.4M | CN¥441M |
| Net income | -CN¥46.1M | -CN¥168M | -CN¥331M | -CN¥33.2M | CN¥338M |
| Free cash flow | CN¥53.0M | CN¥47.2M | -CN¥124M | -CN¥150M | -CN¥423M |
| Capital expenditure | CN¥173M | CN¥69.0M | CN¥110M | CN¥186M | CN¥404M |
| Total debt | CN¥330M | CN¥253M | CN¥353M | CN¥389M | CN¥274M |
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.
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 | 688202.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -29.7% | -4.3% | 4th lowest of 21 |
| 6-month return | +17.6% | -10.1% | 2nd highest of 21 |
| Distance from 52-week high | -38.0% | -36.5% | 10th lowest of 21 |
| Revenue growth (TTM) | +42.3% | +2.3% | highest of 21 |
| Operating margin | -1.6% | 8.4% | 2nd lowest of 21 |
| Forward P/E | 91.8× | 15.0× | 2nd most expensive of 17 |
| ROIC minus cost of capital | -10.6 pp | +0.9 pp | 2nd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Medicilon 688202.SS | China | $1.47B | +18% | +42% | -2% | 91.8× | n/a | n/a |
| Suzhou Recodeal Interconnect System 688800.SS | China | $1.47B | -55% | +5% | 9% | 28.7× | 26.1% | +38.9% |
| Taiwan Secom 9917.TW | Taiwan | $1.47B | -8% | +3% | 16% | 14.2× | -2.3% | +6.7% |
| Shenzhen Ampron Technology 301413.SZ | China | $1.48B | -7% | +11% | 2% | 423.6× | n/a | n/a |
| Shanghai Foreign Service 600662.SS | China | $1.49B | -14% | +1% | 2% | 13.8× | -20.6% | +1.9% |
| Clarivate CLVT | United States | $1.50B | -16% | -9% | 8% | 3.8× | 13.4% | +14.4% |
| Foxtron Vehicle Technologies 2258.TW | Taiwan | $1.50B | +1% | -50% | -132% | n/a | n/a | n/a |
| AFRY AFRY.ST | Sweden | $1.50B | +17% | -4% | 7% | 12.7× | -2.2% | +6.3% |
| ICF International ICFI | United States | $1.43B | +14% | -8% | 8% | 10.8× | -2.2% | +4.4% |
| Derichebourg DBG.PA | France | $1.42B | -24% | -3% | 5% | 8.9× | 6.8% | +6.3% |
| China National Electric Apparatus Research Institute 688128.SS | China | $1.42B | -12% | +8% | 11% | 15.5× | 4.0% | +13.5% |
| Moltiply MOL.MI | Italy | $1.53B | +6% | +32% | 15% | 14.6× | 10.8% | +21.0% |
| Yangzhou Tinfulong 603406.SS | China | $1.53B | -25% | -4% | 12% | n/a | 7.5% | +10.6% |
| Siglent Technologies 688112.SS | China | $1.41B | -5% | +30% | 24% | 46.2× | 31.3% | +22.0% |
| Concord Biotech CONCORDBIO.NS | India | $1.40B | +2% | +4% | 28% | 38.2× | 47.1% | +11.6% |
| AEM AWX.SI | Singapore | $1.55B | -18% | +15% | 11% | 23.4× | 15.4% | -5.1% |
| Wintech Nano (Suzhou) 688757.SS | China | $1.39B | -18% | +23% | 7% | n/a | n/a | n/a |
| China Security 600654.SS | China | $1.39B | -31% | -30% | -1% | n/a | 56.7% | +0.4% |
| Offcn Education Technology 002607.SZ | China | $1.56B | -36% | -2% | 13% | 38.8× | 17.7% | -27.6% |
| SBS 2384.T | Japan | $1.38B | +32% | +22% | 6% | 14.1× | -8.2% | +13.8% |
| MEITEC 9744.T | Japan | $1.57B | +3% | +2% | 14% | 18.7× | -4.6% | +7.3% |