Loading…
Chinese maker of cardiac electrophysiology medical devices, including ablation catheters, part of the MicroPort medical-device group.
Chinese maker of cardiac electrophysiology medical devices, including ablation catheters, part of the MicroPort medical-device group.
Places mapping systems in hospitals and earns on the single-use catheters used in each ablation procedure, so every system installed brings repeat catheter sales. Hospital buying of such devices in China is increasingly steered by group purchasing programmes, which push prices down.
In one line: A China-based Biosense Webster/Abbott EP peer.
Moat: narrow (IP / patents, regulatory licence, customer qualification). Regulatory approval and physician training create switching costs for EP devices.
Headquarters: Shanghai, China · Employees: 523
Size Shanghai MicroPort EP Medtech (688351.SS) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $1.27B, the 1879th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥18.02 on 6 Nov 2026.
Performance Over six months the shares fell 23.0%, against -13.2% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 19.8% over the last twelve months (peer median +11.2%); the operating margin is 2.5% (peer median 9.7%).
Valuation It trades at 135.2× forward earnings against a peer median of 23.8× (2nd most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 42% a year for seven years (Req g). Recent delivered growth is +27%, so the hurdle is +15 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 0.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 26 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥549M | CN¥462M | CN¥410M | CN¥327M | CN¥259M |
| Revenue growth | — | +12% | +25% | +26% | — |
| Gross profit | CN¥310M | CN¥236M | CN¥206M | CN¥181M | CN¥162M |
| EBITDA | n/a | CN¥60.3M | CN¥46.0M | -CN¥5.14M | CN¥1.60M |
| Net income | CN¥57.4M | CN¥51.1M | CN¥52.1M | CN¥5.69M | CN¥3.07M |
| Free cash flow | CN¥39.7M | -CN¥13.5M | CN¥48.5M | -CN¥54.7M | -CN¥37.1M |
| Capital expenditure | CN¥52.2M | CN¥122M | CN¥43.8M | CN¥41.9M | CN¥31.9M |
| Total debt | CN¥74.2M | CN¥34.7M | CN¥29.7M | CN¥26.1M | CN¥27.7M |
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 | 688351.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.7% | -6.9% | 7th highest of 21 |
| 6-month return | -23.0% | -13.2% | 6th lowest of 21 |
| Distance from 52-week high | -36.2% | -36.7% | 11th highest of 21 |
| Revenue growth (TTM) | +19.8% | +11.2% | 7th highest of 21 |
| Operating margin | 2.5% | 9.7% | 6th lowest of 21 |
| Forward P/E | 135.2× | 23.8× | 2nd most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 41.7% | 7.5% | 3rd most demanding of 11 |
| Growth delivered (Del g) | +26.7% | +11.6% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | +15.0 pp | -14.1 pp | 3rd most demanding of 10 |
| ROIC minus cost of capital | +0.3 pp | -2.8 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai MicroPort EP Medtech 688351.SS | China | $1.27B | -23% | +20% | 3% | 135.2× | 41.7% | +26.7% |
| Bajaj Mobility BMAG.SW | Switzerland | $1.28B | +86% | -47% | -44% | 10.4× | n/a | n/a |
| CRA International CRAI | United States | $1.24B | +42% | +11% | 10% | 22.4× | n/a | n/a |
| Shanxi Huaxiang 603112.SS | China | $1.24B | -26% | +9% | 11% | 12.1× | 1.4% | +16.2% |
| Vcanbio Cell & Gene Engineering 600645.SS | China | $1.23B | -32% | -6% | 12% | 45.0× | 11.0% | +1.9% |
| Jadard Technology 688252.SS | China | $1.22B | -12% | +6% | 12% | 23.8× | 13.3% | +31.3% |
| Suzhou Novoprotein Scientific 688137.SS | China | $1.33B | +161% | +8% | -62% | n/a | n/a | n/a |
| Central Mine Planning & Design Institute CMPDI.NS | India | $1.34B | -15% | +10% | 33% | n/a | 4.0% | +18.7% |
| Nittetsu Mining 1515.T | Japan | $1.34B | +10% | +13% | 9% | n/a | n/a | n/a |
| TKC 9746.T | Japan | $1.34B | +21% | +14% | 22% | 18.1× | -9.9% | +4.2% |
| Changchun Up Optotech 002338.SZ | China | $1.34B | -39% | +22% | 2% | 43.4× | n/a | n/a |
| Resolute Holdings Management RHLD | United States | $1.20B | +39% | +10% | 9% | n/a | 26.0% | n/a |
| China East Education 0667.HK | Hong Kong | $1.18B | -18% | +16% | 22% | 8.4× | -6.1% | +4.1% |
| Shenzhen Aoni Electronic 301189.SZ | China | $1.18B | -17% | +139% | 2% | n/a | n/a | n/a |
| SBS 2384.T | Japan | $1.38B | +32% | +22% | 6% | 14.1× | -8.2% | +13.8% |
| Beijing Haitian Ruisheng Science Technology 688787.SS | China | $1.17B | -1% | +34% | 4% | 163.5× | n/a | n/a |
| China Security 600654.SS | China | $1.39B | -31% | -30% | -1% | n/a | 56.7% | +0.4% |
| Wintech Nano (Suzhou) 688757.SS | China | $1.39B | -18% | +23% | 7% | n/a | n/a | n/a |
| SBT Ultrasonic Technology 688392.SS | China | $1.16B | -19% | +42% | 17% | 52.9× | n/a | n/a |
| EMTEK (Shenzhen) 300938.SZ | China | $1.16B | -44% | +11% | 27% | 33.1× | n/a | n/a |
| Concord Biotech CONCORDBIO.NS | India | $1.40B | +2% | +4% | 28% | 38.2× | 47.1% | +11.6% |