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World's largest producer of hyaluronic acid, supplying raw material and finished dermal-filler and skincare products for medical aesthetics and cosmetics.
World's largest producer of hyaluronic acid, supplying raw material and finished dermal-filler and skincare products for medical aesthetics and cosmetics.
Began as an ingredient supplier selling hyaluronic acid by weight to cosmetic, drug and food makers, and has moved up the chain into its own skincare brands and injectable fillers, which capture more value per gram but cost more in marketing. Ingredient sales still follow volume and price of a commodity-like material.
In one line: A raw-material supplier plus a skincare brand owner rolled into one.
Moat: narrow (scale, process know-how, brand). World-leading fermentation-based HA production scale plus a growing portfolio of consumer skincare brands.
Headquarters: Jinan, China · Employees: 3,698
Size Bloomage Biotechnology (688363.SS) is a China Materials company (Chemicals: Specialty) with a market value of $2.49B, the 1038th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥34.76 on 6 Nov 2026.
Performance Over six months the shares fell 15.9%, against -12.2% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue fell 21.5% over the last twelve months (peer median +8.3%); the operating margin is 4.6% (peer median 9.1%).
Valuation It trades at 55.6× forward earnings against a peer median of 16.9× (2nd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is +11 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 2.8 points below its cost of capital (8.2% WACC).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.63B | CN¥4.17B | CN¥5.31B | CN¥6.01B | CN¥6.28B |
| Revenue growth | — | -21% | -12% | -4% | — |
| Gross profit | CN¥2.58B | CN¥2.72B | CN¥3.77B | CN¥4.28B | CN¥4.75B |
| EBITDA | n/a | CN¥627M | CN¥554M | CN¥860M | CN¥1.18B |
| Net income | CN¥226M | CN¥292M | CN¥174M | CN¥593M | CN¥971M |
| Free cash flow | CN¥532M | CN¥312M | -CN¥124M | -CN¥317M | -CN¥28.6M |
| Capital expenditure | CN¥363M | CN¥326M | CN¥721M | CN¥1.03B | CN¥696M |
| Total debt | CN¥489M | CN¥353M | CN¥360M | CN¥215M | CN¥421M |
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 |
|---|---|---|---|---|---|---|
| Bloomage Biotechnology 688363.SS | $2.49B | -16% | -22% | 5% | 55.6× | 20.8% |
| IMEIK Technology Development 300896.SZ | $3.92B | -21% | -7% | 45% | 23.3× | 18.8% |
| Galderma GALD.SW | $54.8B | +17% | +16% | 19% | 48.1× | 18.4% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 18.4× | -0.1% |
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 | 688363.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.8% | -8.8% | 2nd highest of 21 |
| 6-month return | -15.9% | -12.2% | 8th lowest of 21 |
| Distance from 52-week high | -37.0% | -33.7% | 8th lowest of 21 |
| Revenue growth (TTM) | -21.5% | +8.3% | lowest of 21 |
| Operating margin | 4.6% | 9.1% | 3rd lowest of 20 |
| Forward P/E | 55.6× | 16.9× | 2nd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 20.8% | 6.1% | most demanding of 12 |
| Growth delivered (Del g) | +9.8% | +7.0% | 3rd highest of 12 |
| Hurdle (Req g minus delivered) | +10.9 pp | +1.3 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | -2.8 pp | -1.1 pp | 7th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bloomage Biotechnology 688363.SS | China | $2.49B | -16% | -22% | 5% | 55.6× | 20.8% | +9.8% |
| Daicel 4202.T | Japan | $2.48B | +24% | +2% | 7% | 11.1× | 6.1% | +8.1% |
| Kemira KEMIRA.HE | Finland | $2.55B | -8% | -3% | 8% | 16.0× | 3.9% | +2.6% |
| Hubei Zhenhua Chemical 603067.SS | China | $2.56B | -35% | +31% | 11% | 23.6× | n/a | n/a |
| Shandong Dongyue Silicone Material 300821.SZ | China | $2.43B | -11% | +13% | 13% | n/a | 20.7% | +8.6% |
| Quaker Houghton KWR | United States | $2.58B | +2% | +9% | 9% | 16.9× | 16.3% | +5.9% |
| Shanghai Huayi 600623.SS | China | $2.41B | -24% | +5% | n/a | 14.8× | -11.1% | +10.3% |
| China Petroleum Engineering 600339.SS | China | $2.60B | -24% | +8% | 1% | 26.7× | n/a | n/a |
| Nifco 7988.T | Japan | $2.62B | +6% | +4% | 14% | 11.7× | -3.5% | +6.6% |
| Guizhou Chanhen Chemical 002895.SZ | China | $2.64B | -20% | +15% | 18% | 12.9× | 2.4% | +36.1% |
| K+s SDF.DE | Germany | $2.68B | -13% | +6% | 34% | 11.7× | n/a | n/a |
| Kaneka 4118.T | Japan | $2.30B | +23% | +4% | 5% | 11.6× | 4.9% | +7.0% |
| Sinochem International 600500.SS | China | $2.27B | -7% | -5% | -1% | n/a | 11.9% | -2.7% |
| PI Industries PIIND.NS | India | $2.79B | -44% | -15% | 13% | 22.7× | n/a | n/a |
| Tinergy Chemical 002145.SZ | China | $2.23B | -15% | +17% | 9% | n/a | n/a | n/a |
| Deepak Nitrite DEEPAKNTR.NS | India | $2.22B | -17% | +25% | 14% | 16.5× | n/a | n/a |
| Shanghai Bairun Investment 002568.SZ | China | $2.82B | -8% | +8% | 28% | 24.2× | 14.5% | +8.8% |
| Qingdao Gon Technology 002768.SZ | China | $2.83B | +48% | +15% | 7% | 17.7× | n/a | n/a |
| Epoxy Base Electronic Material 603002.SS | China | $2.19B | -7% | +73% | 7% | 71.6× | n/a | n/a |
| Beijing Easpring Material Technology 300073.SZ | China | $2.86B | -45% | +116% | 5% | 18.8× | n/a | n/a |
| Rogers ROG | United States | $2.17B | -13% | +7% | 10% | 26.2× | 10.3% | +0.2% |