Employees: 275
Size Shanghai ZJ Bio-Tech (688317.SS) is a China Health Care company (Biotechnology) with a market value of $468M, the 4023rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥16.45 on 6 Nov 2026.
Performance Over six months the shares fell 15.6%, against -5.3% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 17.5% over the last twelve months (peer median -2.7%); the operating margin is -74.9% (peer median -24.2%).
Valuation It trades at 5.2× enterprise value to sales against a peer median of 12.1× (4th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is -62%, so the hurdle is +68 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 16.2 points below its cost of capital (7.5% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥119M | CN¥124M | CN¥178M | CN¥268M | CN¥2.32B |
| Revenue growth | — | -30% | -34% | -88% | — |
| Gross profit | CN¥16.2M | CN¥17.2M | CN¥48.2M | CN¥113M | CN¥1.14B |
| EBITDA | -CN¥21.7M | -CN¥28.5M | -CN¥197M | -CN¥195M | CN¥796M |
| Net income | -CN¥65.0M | -CN¥34.3M | -CN¥127M | -CN¥137M | CN¥760M |
| Free cash flow | CN¥30.9M | CN¥64.9M | CN¥58.1M | -CN¥163M | CN¥510M |
| Capital expenditure | CN¥22.2M | CN¥1.99M | CN¥19.5M | CN¥81.1M | CN¥74.6M |
| Total debt | CN¥293M | CN¥299M | CN¥4.93M | CN¥7.45M | CN¥8.63M |
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| Measure | 688317.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.8% | -14.6% | 7th highest of 21 |
| 6-month return | -15.6% | -5.3% | 8th lowest of 20 |
| Distance from 52-week high | -42.4% | -37.3% | 9th lowest of 21 |
| Revenue growth (TTM) | -17.5% | -2.7% | 5th lowest of 15 |
| Operating margin | -74.9% | -24.2% | 6th lowest of 16 |
| EV / Sales | 5.2× | 12.1× | 4th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 6.0% | 15.2% | 3rd least demanding of 6 |
| Growth delivered (Del g) | -62.3% | +0.5% | lowest of 6 |
| Hurdle (Req g minus delivered) | +68.4 pp | +14.7 pp | most demanding of 6 |
| ROIC minus cost of capital | -16.2 pp | -10.9 pp | 7th lowest of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai ZJ Bio-Tech 688317.SS | China | $468M | -16% | -18% | -75% | 5.2× | 6.0% | -62.3% |
| Jacobio Pharmaceuticals 1167.HK | Hong Kong | $468M | -27% | +286% | 68% | 2.5× | -14.9% | -36.1% |
| Hanx Biopharmaceuticals (Wuhan) 3378.HK | Hong Kong | $469M | -13% | n/a | n/a | n/a | n/a | n/a |
| Medigen Vaccine Biologics 6547.TWO | Taiwan | $467M | -5% | +44% | 10% | 18.0× | n/a | n/a |
| Eupraxia Pharmaceuticals EPRX.TO | Canada | $466M | -5% | n/a | n/a | n/a | n/a | n/a |
| Shattuck Labs STTK | United States | $464M | -33% | -67% | -5,571% | 258.1× | n/a | n/a |
| Shanghai Obio Technology (Group) 688238.SS | China | $462M | -4% | +20% | -79% | 11.4× | n/a | n/a |
| Komipharm International 041960.KS | South Korea | $460M | -12% | -3% | 2% | 12.1× | n/a | n/a |
| Monopar Therapeutics MNPR | United States | $479M | +12% | n/a | n/a | n/a | n/a | n/a |
| Steminent Biotherapeutics 7729.TWO | Taiwan | $458M | +139% | n/a | n/a | n/a | n/a | n/a |
| CHO Pharma 6586.TWO | Taiwan | $480M | +57% | -47% | -17,694% | 8,168.1× | n/a | n/a |
| Scinopharm Taiwan 1789.TW | Taiwan | $482M | -1% | -5% | -4% | 5.2× | 15.2% | +0.5% |
| TaiMed Biologics 4147.TWO | Taiwan | $454M | +10% | +4% | -30% | 22.4× | 31.8% | -3.3% |
| Qingdao Vland Biotech 603739.SS | China | $450M | -21% | +5% | 7% | 2.3× | 18.2% | +7.3% |
| Shanghai Shen Lian Biomedical 688098.SS | China | $444M | -18% | -17% | -16% | 12.1× | n/a | n/a |
| Wuhan Hiteck Biological Pharma 300683.SZ | China | $443M | -36% | -30% | -27% | 5.9× | n/a | n/a |
| TenNor Therapeutics Suzhou 6872.HK | Hong Kong | $440M | n/a | n/a | n/a | n/a | n/a | n/a |
| Ever Supreme Bio Technology 6712.TWO | Taiwan | $439M | +9% | +13% | 47% | 12.7× | 5.8% | +70.5% |
| Crescent Biopharma CBIO | United States | $503M | -28% | n/a | -1,418% | 28.3× | n/a | n/a |
| Qurient 115180.KS | South Korea | $503M | -59% | -20% | -517% | 98.9× | n/a | n/a |
| Berry Genomics 000710.SZ | China | $504M | -5% | -2% | -24% | 3.8× | n/a | n/a |