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Chinese maker of rapid diagnostic test kits, including COVID-19 antigen tests and other point-of-care immunoassays.
Chinese maker of rapid diagnostic test kits, including COVID-19 antigen tests and other point-of-care immunoassays.
Earns by selling test kits per unit, and COVID antigen kits carried the business during the pandemic, so sales fell sharply once mass testing ended. It now leans on its other infectious-disease tests and on overseas distributors to rebuild volume.
In one line: A Chinese Abbott/BinaxNOW-style rapid-test maker.
Moat: none. Rapid-test kits are largely commoditized with many domestic and global competitors.
Headquarters: Beijing, China · Employees: 571
Size Innovita Biological Technology (688253.SS) is a China Health Care company (Biotechnology) with a market value of $1.02B, the 2265th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥49.97 on 6 Nov 2026.
Performance Over six months the shares fell 4.0%, against -14.0% for the median peer and -16.4% for the China market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue fell 28.5% over the last twelve months (peer median +2.0%); the operating margin is 10.8% (peer median -45.3%).
Valuation It trades at 103.0× forward earnings against a peer median of 27.3× (2nd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 43% a year for seven years (Req g). Recent delivered growth is -17%, so the hurdle is +59 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 5.9 points above its cost of capital (9.9% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥308M | CN¥418M | CN¥618M | CN¥476M | CN¥439M |
| Revenue growth | — | -32% | +30% | +8% | — |
| Gross profit | CN¥237M | CN¥307M | CN¥481M | CN¥349M | CN¥254M |
| EBITDA | n/a | CN¥165M | CN¥264M | CN¥210M | CN¥120M |
| Net income | CN¥54.7M | CN¥144M | CN¥247M | CN¥174M | CN¥151M |
| Free cash flow | CN¥64.2M | CN¥183M | CN¥295M | CN¥261M | CN¥75.5M |
| Capital expenditure | CN¥16.0M | CN¥31.1M | CN¥36.2M | CN¥17.0M | CN¥57.7M |
| Total debt | CN¥6.84M | CN¥7.78M | CN¥5.77M | CN¥3.00M | CN¥25.5M |
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 |
|---|---|---|---|---|---|---|
| Innovita Biological Technology 688253.SS | $1.02B | -4% | -28% | 11% | 103.0× | 42.9% |
| Guangzhou Wondfo Biotech 300482.SZ | $1.14B | -10% | -24% | -2% | 31.0× | 16.4% |
| Abbott Laboratories ABT | $190B | +30% | +10% | 14% | 18.8× | 5.6% |
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 | 688253.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.5% | -5.1% | 10th highest of 21 |
| 6-month return | -4.0% | -14.0% | 4th highest of 20 |
| Distance from 52-week high | -32.1% | -42.6% | 3rd highest of 21 |
| Revenue growth (TTM) | -28.5% | +2.0% | 4th lowest of 17 |
| Operating margin | 10.8% | -45.3% | 3rd highest of 19 |
| Forward P/E | 103.0× | 27.3× | 2nd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 42.9% | 6.6% | most demanding of 6 |
| Growth delivered (Del g) | -16.6% | +2.3% | 2nd lowest of 6 |
| Hurdle (Req g minus delivered) | +59.5 pp | +8.8 pp | most demanding of 6 |
| ROIC minus cost of capital | +5.9 pp | -12.3 pp | 2nd highest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Innovita Biological Technology 688253.SS | China | $1.02B | -4% | -28% | 11% | 103.0× | 42.9% | -16.6% |
| Verastem VSTM | United States | $1.02B | +72% | +3,996% | -183% | n/a | n/a | n/a |
| Changchun BCHT Biotechnology 688276.SS | China | $1.00B | -11% | +2% | -29% | n/a | n/a | n/a |
| Chengdu Kanghua Biological Products Co. Td Class 1 300841.SZ | China | $995M | -11% | 0% | 22% | 23.6× | 11.1% | +2.3% |
| Alto Neuroscience ANRO | United States | $987M | +4% | n/a | n/a | n/a | n/a | n/a |
| Janux Therapeutics JANX | United States | $1.08B | +24% | +5,367% | -598% | n/a | n/a | n/a |
| China Animal Husbandry Industry 600195.SS | China | $960M | -17% | +1% | 2% | 35.8× | 6.6% | +4.4% |
| Jade Biosciences JBIO | United States | $958M | -42% | n/a | n/a | n/a | n/a | n/a |
| Daan Gene 002030.SZ | China | $1.11B | -9% | +1% | -81% | n/a | 5.7% | -32.3% |
| Nanjing Leads Biolabs 9887.HK | Hong Kong | $927M | -54% | n/a | -108% | n/a | n/a | n/a |
| Odyssey Therapeutics ODTX | United States | $924M | n/a | -33% | -5,415% | n/a | n/a | n/a |
| Inventiva IVA.PA | France | $912M | -29% | -100% | -307,063% | n/a | n/a | n/a |
| Guangzhou Wondfo Biotech 300482.SZ | China | $1.14B | -10% | -24% | -2% | 31.0× | 16.4% | -5.8% |
| Monte Rosa Therapeutics GLUE | United States | $902M | -45% | -84% | -633% | n/a | n/a | n/a |
| Oxford BioMedica OXB.L | United Kingdom | $892M | -14% | +16% | -18% | n/a | n/a | n/a |
| Rapport Therapeutics RAPP | United States | $1.17B | -36% | n/a | -838% | n/a | n/a | n/a |
| GNI 2160.T | Japan | $866M | -29% | +10% | -24% | 135.6× | n/a | n/a |
| MeiraGTx MGTX | United States | $864M | -8% | +948% | 46% | n/a | -9.9% | +39.2% |
| Syndax Pharmaceuticals SNDX | United States | $859M | -56% | +160% | -62% | n/a | n/a | n/a |
| UroGen Pharma URGN | United States | $1.21B | -16% | +159% | -12% | 13.9× | n/a | n/a |
| Peptidream 4587.T | Japan | $856M | -10% | +1% | -25% | 20.0× | n/a | n/a |