Chengdu-based biopharmaceutical manufacturer selling drugs in China.
Chengdu-based biopharmaceutical manufacturer selling drugs in China.
Moat: none
Headquarters: Chengdu, China · Employees: 1,480
Size Chengdu Easton Biopharmaceuticals (688513.SS) is a China Health Care company (Pharmaceuticals: Major) with a market value of $1.09B, the 2148th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥41.85 on 6 Nov 2026.
Performance Over six months the shares fell 35.0%, against -15.2% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 2.0% over the last twelve months (peer median +8.7%); the operating margin is 12.9% (peer median 7.4%).
Valuation It trades at 26.5× forward earnings against a peer median of 21.9× (5th most expensive of 15).
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 +8%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.30B | CN¥1.32B | CN¥1.34B | CN¥1.11B | CN¥1.16B |
| Revenue growth | — | -1% | +21% | -4% | — |
| Gross profit | CN¥1.03B | CN¥940M | CN¥956M | CN¥840M | CN¥933M |
| EBITDA | n/a | CN¥276M | CN¥253M | CN¥229M | CN¥217M |
| Net income | CN¥273M | CN¥284M | CN¥238M | CN¥227M | CN¥247M |
| Free cash flow | CN¥170M | CN¥179M | CN¥146M | CN¥100.0M | -CN¥187M |
| Capital expenditure | CN¥90.5M | CN¥86.3M | CN¥117M | CN¥175M | CN¥339M |
| Total debt | CN¥263M | CN¥191M | CN¥156M | CN¥270M | CN¥117M |
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| Measure | 688513.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.9% | -5.5% | 7th lowest of 21 |
| 6-month return | -35.0% | -15.2% | 6th lowest of 21 |
| Distance from 52-week high | -48.0% | -35.5% | 6th lowest of 21 |
| Revenue growth (TTM) | -2.0% | +8.7% | 7th lowest of 20 |
| Operating margin | 12.9% | 7.4% | 8th highest of 20 |
| Forward P/E | 26.5× | 21.9× | 5th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 5.5% | 3.4% | 6th most demanding of 14 |
| Growth delivered (Del g) | +7.7% | +4.9% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | -2.2 pp | +1.5 pp | 6th least demanding of 14 |
| ROIC minus cost of capital | +6.4 pp | +0.4 pp | 4th highest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chengdu Easton Biopharmaceuticals 688513.SS | China | $1.09B | -35% | -2% | 13% | 26.5× | 5.5% | +7.7% |
| BeBetter Med 688759.SS | China | $1.08B | -49% | n/a | n/a | n/a | n/a | n/a |
| Zhejiang Tianyu Pharmaceutical 300702.SZ | China | $1.08B | -2% | +27% | 4% | 22.7× | 5.0% | +3.5% |
| Chongqing Taiji Industry (Group) 600129.SS | China | $1.09B | -15% | -4% | 2% | 26.5× | n/a | n/a |
| Jiangxi Fushine Pharmaceutical 300497.SZ | China | $1.10B | -29% | +103% | 24% | 10.6× | 8.6% | -4.5% |
| Ningbo Menovo Pharmaceutical 603538.SS | China | $1.10B | -51% | +19% | 9% | 49.2× | 13.9% | +4.9% |
| Sichuan Huiyu Pharmaceutical 688553.SS | China | $1.07B | -15% | +8% | 7% | n/a | 34.1% | -6.0% |
| CStone Pharmaceuticals 2616.HK | Hong Kong | $1.07B | -38% | +117% | -89% | n/a | n/a | n/a |
| Viyash Scientific VIYASH.NS | India | $1.07B | +3% | +96% | 13% | 30.3× | 38.6% | +20.4% |
| Basilea Pharmaceutica BSLN.SW | Switzerland | $1.07B | +27% | +5% | 24% | 12.4× | -5.7% | +12.7% |
| Bio-Thera Solutions 688177.SS | China | $1.10B | -14% | +24% | -44% | n/a | n/a | n/a |
| Genfleet Therapeutics (Shanghai) 2595.HK | Hong Kong | $1.07B | -47% | -55% | -457% | n/a | n/a | n/a |
| Blue Jet Healthcare BLUEJET.NS | India | $1.11B | +13% | -28% | 28% | 32.5× | 49.0% | +13.8% |
| China Resources Boya Bio-pharmaceutical 300294.SZ | China | $1.06B | -18% | -27% | -19% | 23.8× | n/a | n/a |
| Renhe Pharmacy 000650.SZ | China | $1.06B | -10% | -7% | 14% | 17.7× | -9.4% | -7.0% |
| Shandong Lukang Pharmaceutical 600789.SS | China | $1.11B | -13% | -7% | 3% | n/a | 3.3% | +6.5% |
| ST Pharm 237690.KS | South Korea | $1.12B | -52% | +26% | 18% | 27.9× | n/a | n/a |
| Jiangsu Kanion Pharmaceutical 600557.SS | China | $1.05B | -6% | +8% | 7% | 21.0× | 3.4% | +1.8% |
| Sunflower Pharmaceutical 002737.SZ | China | $1.04B | -13% | +31% | -7% | 4.8× | -6.4% | -7.7% |
| Zhejiang Jolly Pharmaceutical 300181.SZ | China | $1.13B | -18% | +17% | 20% | 12.8× | 1.1% | +22.8% |
| Aurisco Pharmaceutical 605116.SS | China | $1.13B | -18% | +9% | 28% | 15.4× | 1.5% | +18.7% |