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Chinese drug-discovery company using DNA-encoded library technology to find and license small-molecule drug candidates.
Chinese drug-discovery company using DNA-encoded library technology to find and license small-molecule drug candidates.
Charges fees to run screens of its DNA-encoded library against customers' drug targets, and earns milestone payments and possible royalties when partners move compounds it found into development. Fee-for-service work is the steadier part, while milestones are lumpy.
In one line: A Chinese DNA-encoded-library drug discovery specialist.
Moat: narrow (IP / patents, process know-how). One of the few companies globally with a mature, large-scale DNA-encoded library platform.
Headquarters: Chengdu, China · Employees: 546
Size Hitgen (688222.SS) is a China Health Care company (Biotechnology) with a market value of $2.12B, the 1199th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥35.17 on 6 Nov 2026.
Performance Over six months the shares gained 22.9%, against +12.6% for the median peer and -16.4% for the China market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 41.7% over the last twelve months (peer median +23.2%); the operating margin is 26.9% (peer median -3.8%).
Valuation It trades at 94.1× forward earnings against a peer median of 28.6× (2nd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 39% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is +22 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 8.6 points above its cost of capital (10.1% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥706M | CN¥526M | CN¥427M | CN¥367M | CN¥330M |
| Revenue growth | — | +23% | +16% | +12% | — |
| Gross profit | CN¥431M | CN¥268M | CN¥198M | CN¥159M | CN¥134M |
| EBITDA | n/a | CN¥167M | CN¥117M | CN¥60.1M | CN¥30.6M |
| Net income | CN¥156M | CN¥110M | CN¥51.4M | CN¥40.7M | CN¥25.3M |
| Free cash flow | CN¥55.4M | CN¥66.3M | CN¥71.2M | CN¥91.4M | -CN¥13.5M |
| Capital expenditure | CN¥184M | CN¥161M | CN¥71.7M | CN¥53.7M | CN¥87.3M |
| Total debt | CN¥430M | CN¥238M | CN¥217M | CN¥236M | CN¥250M |
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 |
|---|---|---|---|---|---|---|
| Hitgen 688222.SS | $2.12B | +23% | +42% | 27% | 94.1× | 38.7% |
| 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 |
| Evotec EVT.DE | $630M | -33% | -8% | -19% | n/a | n/a |
| Viva Biotech 1873.HK | $354M | -14% | +7% | 10% | 9.5× | 5.6% |
| 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 | 688222.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.1% | +2.9% | lowest of 21 |
| 6-month return | +22.9% | +12.6% | 10th highest of 21 |
| Distance from 52-week high | -26.1% | -26.4% | 11th highest of 21 |
| Revenue growth (TTM) | +41.7% | +23.2% | 7th highest of 16 |
| Operating margin | 26.9% | -3.8% | 5th highest of 15 |
| Forward P/E | 94.1× | 28.6× | 2nd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 38.7% | 15.6% | most demanding of 7 |
| Growth delivered (Del g) | +16.8% | +41.4% | 2nd lowest of 6 |
| Hurdle (Req g minus delivered) | +22.0 pp | -32.0 pp | most demanding of 6 |
| ROIC minus cost of capital | +8.6 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 |
|---|---|---|---|---|---|---|---|---|
| Hitgen 688222.SS | China | $2.12B | +23% | +42% | 27% | 94.1× | 38.7% | +16.8% |
| Shenzhen Kangtai Biological Products 300601.SZ | China | $2.11B | -9% | -9% | 6% | 119.7× | 25.3% | +3.4% |
| Vera Therapeutics VERA | United States | $2.15B | -18% | n/a | n/a | n/a | n/a | n/a |
| Vir Biotechnology VIR | United States | $2.07B | +34% | +1,496% | -92% | n/a | n/a | n/a |
| Replimune REPL | United States | $2.05B | +547% | 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 |
| Trevi Therapeutics TRVI | United States | $2.04B | -1% | n/a | n/a | n/a | n/a | n/a |
| Recursion Pharmaceuticals RXRX | United States | $2.19B | +6% | +56% | -725% | 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 |
| SKBS 302440.KS | South Korea | $2.22B | -11% | +23% | -25% | n/a | n/a | n/a |
| First Tracks Biotherapeutics TRAX | United States | $2.01B | +145% | n/a | n/a | n/a | n/a | n/a |
| GemPharmatech 688046.SS | China | $2.01B | +59% | +25% | 22% | 58.7× | 35.7% | +24.8% |
| 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% |
| BioCryst Pharmaceuticals BCRX | United States | $1.97B | -11% | +60% | 42% | 11.6× | -10.6% | +117.9% |
| Septerna SEPN | United States | $2.28B | +105% | +13,520% | -57% | n/a | 18.7% | n/a |
| Hemab Therapeutics COAG | United States | $2.29B | +95% | n/a | n/a | 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 |
| Zealand Pharma A/S ZEAL.CO | Denmark | $2.32B | -32% | -49% | 51% | 8.8× | n/a | n/a |