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Employees: 807
Size Hangzhou AGS MedTech (688581.SS) is a China Health Care company (Medical Specialties) with a market value of $617M, the 3354th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥50.99 on 6 Nov 2026.
Performance Over six months the shares fell 15.9%, against -13.2% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 18.1% over the last twelve months (peer median +10.2%); the operating margin is 32.6% (peer median 8.5%).
Valuation It trades at 19.8× forward earnings against a peer median of 23.9× (5th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is -26 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 13.5 points above its cost of capital (7.8% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥548M | CN¥587M | CN¥630M | CN¥505M | CN¥368M |
| Revenue growth | — | -7% | +25% | +37% | — |
| Gross profit | CN¥395M | CN¥405M | CN¥447M | CN¥354M | CN¥247M |
| EBITDA | n/a | CN¥226M | CN¥292M | CN¥223M | CN¥157M |
| Net income | CN¥188M | CN¥222M | CN¥293M | CN¥217M | CN¥145M |
| Free cash flow | CN¥146M | CN¥87.7M | CN¥266M | CN¥170M | CN¥96.3M |
| Capital expenditure | CN¥55.4M | CN¥63.5M | CN¥49.6M | CN¥51.6M | CN¥60.1M |
| Total debt | CN¥72.4M | CN¥54.9M | CN¥10.6M | CN¥11.9M | CN¥6.71M |
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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 | 688581.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.8% | -0.7% | 6th lowest of 20 |
| 6-month return | -15.9% | -13.2% | 10th lowest of 20 |
| Distance from 52-week high | -31.4% | -34.3% | 9th highest of 20 |
| Revenue growth (TTM) | -18.1% | +10.2% | lowest of 20 |
| Operating margin | 32.6% | 8.5% | 3rd highest of 20 |
| Forward P/E | 19.8× | 23.9× | 5th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | 1.7% | 5.1% | 6th least demanding of 13 |
| Growth delivered (Del g) | +27.8% | +6.6% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | -26.2 pp | -1.9 pp | least demanding of 13 |
| ROIC minus cost of capital | +13.5 pp | +0.4 pp | 5th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou AGS MedTech 688581.SS | China | $617M | -16% | -18% | 33% | 19.8× | 1.7% | +27.8% |
| Ningbo David Medical Device 300314.SZ | China | $607M | +22% | +19% | 11% | 12.3× | n/a | n/a |
| Wuhan Huakang Century Clean Technology 301235.SZ | China | $603M | -42% | +28% | 7% | 22.6× | n/a | n/a |
| Medistim MEDI.OL | Norway | $601M | +30% | +19% | 29% | 30.5× | -1.8% | +14.5% |
| Xvivo Perfusion XVIVO.ST | Sweden | $635M | -29% | +18% | 12% | 54.2× | 35.7% | +35.2% |
| Contec Medical Systems 300869.SZ | China | $600M | -23% | -2% | -16% | n/a | 17.3% | -19.8% |
| Nanosonics NAN.AX | Australia | $599M | -13% | +3% | 7% | 90.3× | 34.4% | +6.7% |
| SunMax Biotechnology 4728.TWO | Taiwan | $643M | +1% | +12% | 50% | n/a | -0.7% | +18.8% |
| Cowealth Medical China 603122.SS | China | $648M | -28% | -18% | -5% | n/a | n/a | n/a |
| Tactile Systems Technology TCMD | United States | $583M | +1% | +14% | 9% | 20.8× | 7.8% | +12.0% |
| Zhejiang Gongdong Medical Technology 605369.SS | China | $581M | -10% | +6% | 9% | 25.2× | 11.6% | +6.5% |
| AK Medical 1789.HK | Hong Kong | $664M | -26% | +16% | 26% | 10.8× | -11.4% | +6.7% |
| Beijing Chunlizhengda Medical Instruments 1858.HK | Hong Kong | $671M | -27% | -9% | 31% | 9.2× | -8.0% | +1.5% |
| Guangdong Hybribio Biotech 300639.SZ | China | $568M | -5% | -7% | 4% | 63.8× | 2.7% | -13.2% |
| Myriad Genetics MYGN | United States | $566M | +38% | -3% | -11% | n/a | n/a | n/a |
| Sahajanand Medical Technologies SMT.NS | India | $566M | n/a | n/a | n/a | n/a | n/a | n/a |
| Jiangsu Hanvo Safety Product 300952.SZ | China | $681M | -21% | +6% | 8% | 47.6× | n/a | n/a |
| Anbio Biotechnology NNNN | United States | $560M | -85% | +10% | 67% | n/a | n/a | n/a |
| Zhejiang Orient Gene Biotech 688298.SS | China | $559M | -17% | +18% | -60% | n/a | n/a | n/a |
| Japan Lifeline 7575.T | Japan | $685M | +16% | +6% | 19% | 14.1× | -9.7% | +2.9% |
| MedicalSystem Biotechnology 300439.SZ | China | $556M | -4% | +14% | 2% | n/a | 7.4% | -7.8% |