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Chinese biopharma specializing in recombinant protein drugs, notably long-acting pegylated interferon.
Chinese biopharma specializing in recombinant protein drugs, notably long-acting pegylated interferon.
Sells its long-acting interferon mainly to hospitals through distributors, so sales rest on one product family, and hospital tenders and inclusion on China's insurance reimbursement lists set price and volume. Competing imported and domestic long-acting interferons keep price pressure on it.
In one line: A small, interferon-focused Chinese biologics maker.
Moat: narrow (IP / patents, regulatory licence). One of few domestic makers of long-acting pegylated interferon, reducing reliance on imports.
Headquarters: Xiamen, China · Employees: 3,644
Size Xiamen Amoytop Biotech (688278.SS) is a China Health Care company (Biotechnology) with a market value of $2.76B, the 928th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥45.09 on 6 Nov 2026.
Performance Over six months the shares fell 22.6%, against +2.3% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue grew 18.3% over the last twelve months (peer median +2.8%); the operating margin is 26.7% (peer median -19.5%).
Valuation It trades at 16.2× forward earnings against a peer median of 67.9× (2nd cheapest of 8).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +36%, so the hurdle is -36 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.7 points above its cost of capital (5.3% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.95B | CN¥3.68B | CN¥2.81B | CN¥2.09B | CN¥1.52B |
| Revenue growth | — | +31% | +34% | +38% | — |
| Gross profit | CN¥3.64B | CN¥3.37B | CN¥2.61B | CN¥1.94B | CN¥1.34B |
| EBITDA | n/a | CN¥1.36B | CN¥1.02B | CN¥728M | CN¥410M |
| Net income | CN¥842M | CN¥1.03B | CN¥828M | CN¥555M | CN¥287M |
| Free cash flow | CN¥260M | CN¥473M | CN¥179M | CN¥224M | CN¥144M |
| Capital expenditure | CN¥307M | CN¥256M | CN¥251M | CN¥288M | CN¥219M |
| Total debt | CN¥2.20B | CN¥176M | CN¥8.94M | CN¥7.92M | CN¥9.74M |
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 |
|---|---|---|---|---|---|---|
| Xiamen Amoytop Biotech 688278.SS | $2.76B | -23% | +18% | 27% | 16.2× | 0.5% |
| Sinocelltech 688520.SS | $2.25B | -23% | -40% | -75% | n/a | n/a |
| Roche RO.SW | $385B | +22% | -1% | 31% | 19.6× | 0.9% |
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 | 688278.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.2% | -4.6% | 8th lowest of 21 |
| 6-month return | -22.6% | +2.3% | 5th lowest of 20 |
| Distance from 52-week high | -47.3% | -27.9% | 5th lowest of 21 |
| Revenue growth (TTM) | +18.3% | +2.8% | 7th highest of 17 |
| Operating margin | 26.7% | -19.5% | 2nd highest of 17 |
| Forward P/E | 16.2× | 67.9× | 2nd cheapest of 8 |
| Growth the price implies (Req g, 7 yrs) | 0.5% | 15.3% | 3rd least demanding of 5 |
| Growth delivered (Del g) | +36.0% | +46.0% | 3rd highest of 5 |
| Hurdle (Req g minus delivered) | -35.6 pp | -33.1 pp | 3rd least demanding of 5 |
| ROIC minus cost of capital | +22.7 pp | -10.2 pp | 2nd highest of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xiamen Amoytop Biotech 688278.SS | China | $2.76B | -23% | +18% | 27% | 16.2× | 0.5% | +36.0% |
| Xeris Biopharma XERS | United States | $2.77B | +133% | +36% | 11% | 67.9× | 33.3% | +70.2% |
| Beam Therapeutics BEAM | United States | $2.73B | -18% | +163% | -268% | n/a | n/a | n/a |
| Walvax Biotechnology 300142.SZ | China | $2.71B | -12% | -23% | 5% | 381.7× | 31.3% | -3.8% |
| Hebei Changshan Biochemical Pharmaceutical 300255.SZ | China | $2.68B | -52% | 0% | -25% | n/a | n/a | n/a |
| ADMA Biologics ADMA | United States | $2.85B | +56% | +8% | 42% | 15.7× | -0.8% | +64.6% |
| Sunshine Lake Pharma 6887.HK | Hong Kong | $2.85B | -9% | +20% | -3% | n/a | n/a | n/a |
| Xencor XNCR | United States | $2.66B | +178% | -29% | -206% | n/a | n/a | n/a |
| Rubicon Research RUBICON.NS | India | $2.91B | +74% | +37% | 21% | 77.2× | n/a | n/a |
| Zai Lab 9688.HK | Hong Kong | $2.92B | +13% | +5% | -59% | n/a | n/a | n/a |
| Bavarian Nordic A/S BAVA.CO | Denmark | $2.93B | +27% | -3% | 16% | 17.1× | -2.0% | +27.4% |
| Arcus Biosciences RCUS | United States | $2.59B | -28% | -55% | -415% | n/a | n/a | n/a |
| Evopoint Biosciences 688837.SS | China | $2.58B | n/a | n/a | n/a | n/a | n/a | n/a |
| Palvella Therapeutics PVLA | United States | $2.53B | +45% | -100% | n/a | n/a | n/a | n/a |
| Caliway Biopharmaceuticals 6919.TW | Taiwan | $3.01B | -37% | -54% | -6,983% | n/a | n/a | n/a |
| HLB 028300.KS | South Korea | $3.06B | -49% | +29% | -96% | n/a | n/a | n/a |
| MBX Biosciences MBX | United States | $2.47B | +25% | n/a | n/a | n/a | n/a | n/a |
| Pharvaris PHVS | United States | $2.41B | +14% | n/a | n/a | n/a | n/a | n/a |
| BGI Genomics 300676.SZ | China | $2.39B | -4% | 0% | -14% | 142.2× | n/a | n/a |
| Denali Therapeutics DNLI | United States | $3.22B | +2% | n/a | -2,488% | n/a | n/a | n/a |
| Telix Pharmaceuticals TLX.AX | Australia | $3.22B | -6% | +27% | -1% | 36.8× | n/a | n/a |