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Biotech developing antibody-drug conjugates (ADCs) for cancer, with global licensing deals including one with Merck.
Biotech developing antibody-drug conjugates (ADCs) for cancer, with global licensing deals including one with Merck.
Revenue arrives mainly through licensing: partners pay upfront and milestone amounts on its antibody-drug conjugates, drugs that combine a cancer-targeting antibody with a toxin, so earnings come in lumps when a deal is signed or a trial milestone is reached.
Moat: narrow (IP / patents). Proprietary ADC technology platform validated by large global licensing deals, including with Merck.
Headquarters: Chengdu, Sichuan, China · Founded: 1996 · Employees: 3,198
Size Sichuan Biokin Pharmaceutical (688506.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $16.4B, the 140th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥264.23 on 6 Nov 2026.
Performance Over six months the shares fell 3.1%, against +4.0% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 14.5% over the last twelve months (peer median +23.5%); the operating margin is -42.7% (peer median 23.1%).
Valuation It trades at 42.9× enterprise value to sales against a peer median of 5.3× (2nd most expensive of 21).
Capital Return on invested capital runs 19.4 points below its cost of capital (6.4% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.55B | CN¥2.52B | CN¥5.82B | CN¥557M | CN¥695M |
| Revenue growth | — | -57% | +945% | -20% | — |
| Gross profit | CN¥2.32B | CN¥2.20B | CN¥5.50B | CN¥284M | CN¥420M |
| EBITDA | n/a | -CN¥697M | CN¥3.76B | -CN¥732M | -CN¥269M |
| Net income | -CN¥1.26B | -CN¥1.05B | CN¥3.71B | -CN¥780M | -CN¥282M |
| Free cash flow | -CN¥1.95B | -CN¥1.06B | CN¥4.01B | -CN¥697M | -CN¥293M |
| Capital expenditure | CN¥914M | CN¥264M | CN¥83.9M | CN¥81.9M | CN¥34.6M |
| Total debt | CN¥6.67B | CN¥3.82B | CN¥2.18B | CN¥730M | CN¥573M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Sichuan Biokin Pharmaceutical 688506.SS | $16.4B | -3% | +14% | -43% | 42.9× | n/a |
| Daiichi Sankyo 4568.T | $31.9B | +7% | +17% | 13% | 2.1× | 7.2% |
| Pfizer PFE | $168B | +14% | +1% | 26% | 3.4× | -4.3% |
| AbbVie ABBV | $515B | +45% | +11% | 36% | 8.9× | -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 | 688506.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.4% | +7.8% | 4th highest of 21 |
| 6-month return | -3.1% | +4.0% | 6th lowest of 21 |
| Distance from 52-week high | -34.6% | -9.2% | 2nd lowest of 21 |
| Revenue growth (TTM) | +14.5% | +23.5% | 8th lowest of 21 |
| Operating margin | -42.7% | 23.1% | lowest of 21 |
| EV / Sales | 42.9× | 5.3× | 2nd most expensive of 21 |
| ROIC minus cost of capital | -19.4 pp | +7.2 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sichuan Biokin Pharmaceutical 688506.SS | China | $16.4B | -3% | +14% | -43% | 42.9× | n/a | n/a |
| Shionogi & 4507.T | Japan | $16.6B | -6% | +46% | 29% | 4.6× | -0.7% | +11.0% |
| Orion ORNAV.HE | Finland | $16.1B | +51% | +34% | 38% | 6.6× | -6.3% | +11.7% |
| Ascendis Pharma A/S ASND | United States | $16.0B | +8% | +128% | 10% | 12.8× | 36.4% | +152.4% |
| PharmaEssentia 6446.TW | Taiwan | $15.8B | +118% | +64% | 38% | 24.1× | 29.3% | +94.8% |
| Exelixis EXEL | United States | $17.0B | +44% | +9% | 40% | 6.5× | -3.7% | +18.6% |
| Swedish Orphan Biovitrum SOBI.ST | Sweden | $17.6B | +13% | +15% | 30% | 5.8× | -1.1% | +13.1% |
| Jazz Pharmaceuticals Public JAZZ | United States | $15.1B | +4% | +13% | 25% | 3.8× | -3.9% | +12.5% |
| Ipsen IPN.PA | France | $14.7B | -4% | +14% | 30% | 3.0× | -7.3% | +7.2% |
| Yunnan Baiyao 000538.SZ | China | $14.7B | +4% | +5% | 11% | 2.0× | -0.5% | +4.7% |
| Torrent Pharmaceuticals TORNTPHARM.NS | India | $19.1B | +9% | +42% | 22% | 11.0× | 37.9% | +11.3% |
| Innovent Biologics 1801.HK | Hong Kong | $19.2B | -5% | +43% | 17% | 7.4× | 11.7% | +26.8% |
| Sichuan Kelun-Biotech Biopharmaceutical 6990.HK | Hong Kong | $13.9B | 0% | +44% | -38% | 44.4× | 56.2% | +33.7% |
| Laurus Labs LAURUSLABS.NS | India | $13.3B | +94% | +23% | 24% | 16.4× | 50.9% | +7.3% |
| Alnylam Pharmaceuticals ALNY | United States | $20.9B | -47% | +56% | 20% | 4.0× | 0.9% | +49.8% |
| Sbp 1177.HK | Hong Kong | $12.7B | +4% | +15% | 30% | 2.7× | -5.4% | +5.4% |
| Zydus Lifesciences ZYDUSLIFE.NS | India | $12.7B | +27% | +24% | 17% | 4.3× | n/a | n/a |
| Recordati REC.MI | Italy | $12.3B | +3% | +9% | 30% | 4.8× | 1.9% | +12.6% |
| Zhangzhou Pientzehuang Pharmaceutical 600436.SS | China | $12.3B | -5% | -19% | 19% | 10.3× | 25.8% | +6.8% |
| Dr. Reddy's Laboratories DRREDDY.NS | India | $12.1B | +5% | -4% | 9% | 3.5× | 30.1% | +12.1% |
| Sigma Healthcare SIG.AX | Australia | $22.4B | -1% | +209% | 9% | 3.2× | 28.2% | +26.1% |