Has the Chinese Healthcare Sector valuation changed over the past few years?

Investors are optimistic on the Chinese Healthcare industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 42.1x which is higher than its 3-year average PE of 37.8x. The industry is trading close to its 3-year average PS ratio of 2.7x.

Which industries have driven the changes within the Chinese Healthcare sector?

Investors are most optimistic about the Medical Equipment industry which is trading above its 3-year average PE ratio of 34.3x. Analysts are expecting annual earnings growth of 22.4%, which is higher than its past year's earnings decline of 10.3% per year.

Chinese (SSE) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sun, 31 May 2026	CN¥5.7t	CN¥2.3t	CN¥136.3b	38.7x	42.1x	2.5x
Tue, 28 Apr 2026	CN¥6.2t	CN¥2.3t	CN¥149.3b	40.1x	41.5x	2.7x
Thu, 26 Mar 2026	CN¥6.0t	CN¥2.3t	CN¥149.9b	36.8x	40.1x	2.6x
Sat, 21 Feb 2026	CN¥6.4t	CN¥2.3t	CN¥146.2b	40.8x	43.9x	2.8x
Mon, 19 Jan 2026	CN¥6.7t	CN¥2.3t	CN¥145.1b	41.8x	46.1x	2.9x
Wed, 17 Dec 2025	CN¥6.3t	CN¥2.3t	CN¥145.1b	37.5x	43.1x	2.7x
Fri, 14 Nov 2025	CN¥6.8t	CN¥2.3t	CN¥145.1b	41.8x	47.1x	3x
Sun, 12 Oct 2025	CN¥6.8t	CN¥2.3t	CN¥146.9b	40x	46.3x	3x
Tue, 09 Sep 2025	CN¥7.1t	CN¥2.2t	CN¥142.2b	41.8x	50.2x	3.3x
Thu, 07 Aug 2025	CN¥6.7t	CN¥2.2t	CN¥152.8b	40.2x	44.1x	3.1x
Sat, 05 Jul 2025	CN¥6.1t	CN¥2.2t	CN¥150.0b	36x	40.5x	2.8x
Mon, 02 Jun 2025	CN¥6.0t	CN¥2.2t	CN¥150.2b	35.6x	39.7x	2.7x
Wed, 30 Apr 2025	CN¥5.6t	CN¥2.2t	CN¥149.2b	32.6x	37.2x	2.5x
Fri, 28 Mar 2025	CN¥5.7t	CN¥2.2t	CN¥156.9b	32.5x	36.1x	2.5x
Sun, 23 Feb 2025	CN¥5.8t	CN¥2.2t	CN¥153.6b	33.2x	37.6x	2.6x
Tue, 21 Jan 2025	CN¥5.4t	CN¥2.2t	CN¥153.7b	30.8x	35.1x	2.4x
Thu, 19 Dec 2024	CN¥5.8t	CN¥2.2t	CN¥153.7b	33.3x	37.7x	2.6x
Sat, 16 Nov 2024	CN¥5.9t	CN¥2.2t	CN¥154.1b	33.7x	38.1x	2.6x
Mon, 14 Oct 2024	CN¥5.7t	CN¥2.2t	CN¥161.8b	32.1x	35.2x	2.5x
Wed, 11 Sep 2024	CN¥4.8t	CN¥2.2t	CN¥162.1b	27.4x	29.8x	2.2x
Fri, 09 Aug 2024	CN¥5.2t	CN¥2.3t	CN¥166.2b	28.4x	31.4x	2.3x
Sun, 07 Jul 2024	CN¥5.1t	CN¥2.3t	CN¥165.0b	27.8x	31.2x	2.3x
Tue, 04 Jun 2024	CN¥5.6t	CN¥2.3t	CN¥164.9b	29.9x	33.8x	2.5x
Thu, 02 May 2024	CN¥5.9t	CN¥2.3t	CN¥169.1b	32.3x	35x	2.6x
Sat, 30 Mar 2024	CN¥5.8t	CN¥2.3t	CN¥174.2b	30.4x	33.1x	2.5x
Mon, 26 Feb 2024	CN¥5.8t	CN¥2.3t	CN¥179.6b	28.8x	32.3x	2.5x
Wed, 24 Jan 2024	CN¥5.8t	CN¥2.3t	CN¥176.9b	29.3x	32.5x	2.5x
Fri, 22 Dec 2023	CN¥6.4t	CN¥2.3t	CN¥177.1b	34.4x	36.2x	2.8x
Sun, 19 Nov 2023	CN¥6.6t	CN¥2.3t	CN¥177.2b	36x	37.4x	2.9x
Tue, 17 Oct 2023	CN¥6.6t	CN¥2.3t	CN¥185.1b	34.1x	35.5x	2.9x
Thu, 14 Sep 2023	CN¥6.2t	CN¥2.3t	CN¥186.4b	31.6x	33.1x	2.7x
Sat, 12 Aug 2023	CN¥6.4t	CN¥2.3t	CN¥193.5b	32.2x	32.9x	2.8x
Mon, 10 Jul 2023	CN¥6.5t	CN¥2.3t	CN¥191.9b	33.4x	33.8x	2.9x
Wed, 07 Jun 2023	CN¥6.8t	CN¥2.3t	CN¥191.5b	35.2x	35.3x	3x


CN Market	-1.83%
Healthcare	-2.60%
Healthcare Services	-1.83%
Pharma	-2.10%
Medical Equipment	-2.96%
Biotech	-3.13%
Healthtech	-3.42%
Life Sciences	-4.07%

Company	Last Price	7D	1Y	Valuation
688301 iRay Group	CN¥202.00	14.3% +CN¥5.3b	115.4%	PE62.3x
688271 Shanghai United Imaging Healthcare	CN¥120.30	3.7% +CN¥3.5b	-12.5%	PE52x
002422 Sichuan Kelun Pharmaceutical	CN¥36.37	4.8% +CN¥2.6b	-5.7%	PE36.8x
600436 Zhangzhou Pientzehuang Pharmaceutical	CN¥128.41	3.5% +CN¥2.6b	-37.1%	PE40.7x
688677 Qingdao NovelBeam TechnologyLtd	CN¥154.98	13.1% +CN¥2.1b	275.3%	PE107x

Announcement • May 22

United Imaging Showcases Umr Jupiter 5T and Umr Ultra Along with Latest Mri Advancements

United Imaging, a global innovator in AI-powered advanced medical imaging technologies and intelligent healthcare solutions, showcased its comprehensive MRI portfolio, highlighting significant advancements across multiple fronts Ultra-High Field, Ultra-High Performance, Artificial Intelligence, and Research Ecosystems, at ISMRM 2026. At the forefront of the "Ultra-High Field" showcase is the uMR Jupiter, a whole-body 5T MRI system, along with the latest multi-nuclear solutions. The uMR Jupiter surpasses traditional ultra-high-field MRI limits, extending beyond brain and select MSK joints to the abdomen, heart, pelvis, and more. It delivers superior resolution and signal-to-noise ratio over standard 3T MRI, enabling radiologists to "see the unseen." Leveraging higher field strength, the uMR Jupiter 5T enables multi-nuclear metabolic imaging, including deuterium and phosphorus, to detect pathological changes prior to morphological alterations, supporting comprehensive disease management across the full lifecycle. With whole-body coverage spanning the brain, body, and musculoskeletal system, it provides a foundation for advanced whole-body metabolic imaging. The uMR Ultra is an advanced 3T MRI system capable of observing and analyzing body movement during scanning. It enables detailed visualization of the body in motion, expanding MRI beyond static imaging. The system integrates industry-leading specifications, including 100 mT/m gradient performance at 200 T/m/s, 192 independent receive channels, and up to 96-channel coil capability. These technologies address the challenges of capturing motion and broaden clinical applications. Building on this foundation, the uAIFI.LIVE platform introduces dynamic whole-body LIVE imaging tailored for motion visualization. Leveraging the AI capabilities of uAIFI, the established foundation of United Imaging's MRI systems, and specialized hardware innovations, it enables the evolution of MRI from static "photography" to dynamic "videography." In addition, United Imaging presents the world's first SiC-enhanced GPA, which achieves significant energy and carbon emission reductions. The study "Energy-saving Efficiency of a Novel Silicon Carbide MRI Gradient Power Amplifier," conducted by United Imaging and hospitals in China, was selected for oral presentation at the 2025 Annual Meeting of the Radiological Society of North America (RSNA). The study provides clinical validation of the SiC GPA's energy-saving potential, highlighting its ability to enable more efficient, low-carbon MRI operations. It reduces MRI energy consumption by more than 57% without compromising image quality, powering the possibilities of sustainable medical imaging. Beyond imaging technologies, the company also showcases its research ecosystem supported by the ADEPT platform (Application Developing Environment and Programming Tools) and AppCenter. ADEPT is a comprehensive platform offering precise hardware control and streamlined application development. Coupled with extensive support for research platform interfacing and a vibrant scientific community, ADEPT represents a significant step forward in accelerating user development and advancing scientific research in the field of MRI. AppCenter, a comprehensive digital application-sharing platform, integrates application sharing, professional networking, and cloud-based collaboration. It enables access to a wide range of applications, connects experts worldwide, and supports efficient cross-border cooperation, advancing collective intelligence for building an ecosystem. *The following products are under development, for research use only, or pending 510(k) clearance. They are not cleared by the FDA and are not available for sale for clinical use in the U.S.

Announcement • Apr 15

Asymchem Unveils Fully Integrated TIDES Commercial Supply Matrix

Asymchem, a global contract development and manufacturing organization (CDMO), has unveiled an integrated commercial supply matrix for TIDES (Peptides and Oligonucleotides) at its TJ4 site, combining expanded API manufacturing capacity, established drug product facilities, and advanced fit-for-purpose TIDES process technologies spanning synthesis, purification, and commercial scale-up to forge a world-class TIDES flagship site. With the installation of new SPPS (solid-phase peptide synthesis) reactors at its TJ4 site, Asymchem has commissioned a comprehensive manufacturing network, increasing its total SPPS reactor volume to over 45,000 L and enabling an annual peptide production capacity exceeding 22.5 metric tons. In response to accelerating global demand for peptide-based therapeutics, total SPPS capacity is expected to expand further to approximately 69,000 L by the end of 2026, reinforcing long-term commercial supply assurance. In parallel, Asymchem continues to advance and scale its oligonucleotide manufacturing platform to support growing clinical and commercial demand. Current oligonucleotide production capacity stands at a minimum of 180 mol/yr, with additional capacity expansion options available through clearly defined, phase-based deployment, enabling efficient scale-up to accommodate program progression, increasing batch size, and long-term commercial supply commitments. To accommodate the expansion of its API manufacturing footprint, Asymchem has brought its drug product capabilities into strategic alignment to ensure seamless progression from API to finished dosage form. A newly commissioned 6,000 m2 (2,000 m2 footprint) drug product manufacturing facility at its TJ4 site, is dedicated to the manufacture of pre filled syringes and cartridges. The pre-filled syringe line is fully GMP-operational, supporting batch sizes of up to 150,000 units and an annual production capacity of approximately 45 million units. Complementing this capability, the cartridge manufacturing workshop, designed to handle complex formulations for both peptide- and oligonucleotide-based therapeutics, is on track to commence production by June 2026, with an annual capacity of up to 100 million units. Capacity alone does not tell the full story. To unlock the full potential of its expending manufacturing footprint, Asymchem has embedded next-generation process technologies into its capacity expansion strategy - completing the last mile of its fully integrated TIDES commercial supply matrix. Asymchem has strategically developed a robust upstream technology portfolio to support the future of TIDES manufacturing. This includes Tag-assisted liquid-phase peptide /oligonucleotide synthesis (Tag-LPPS/LPOS), enabling continuous and solvent-efficient synthesis, as well as Stirred-Bed Technology (SBT) as an emerging and scalable approach to oligonucleotide manufacturing. In parallel, Asymchem's chemoenzymatic platform further enhances yield and purity for structurally complex TIDES constructs, strengthening process robustness and manufacturability. To match the scale of its upstream capabilities, Asymchem has expanded its downstream processing infrastructure with an emphasis on efficiency, control, and commercial readiness. Key technologies include Multicolumn Countercurrent Solvent Gradient Purification (MCSGP), an Artificial Intelligence (AI)-assisted Process Analytical Technology (PAT) platform, and continuous cleavage and precipitation operations. Notably, Asymchem is among the very few organizations globally to have successfully implemented commercial-scale MCSGP, reinforcing its leadership in advanced purification technologies for TIDES. AI is embedded across the full TIDES development and manufacturing continuum at Asymchem - from route selection and reaction modelling to enzyme engineering, analytical method development, IND-enabling activities, and beyond. Guided by our partner-first mindset, Asymchem leverages AI-enabled decision-making to reduce development uncertainty, acceleratetimelines, optimize Cost of Goods (CoGs), and deliver predictable, scalable outcomes from development through commercialization. Asymchem operates a globally coordinated R&D and manufacturing network across China, US, and UK, delivering fully integrated TIDES upstream and downstream capabilities. With in-house control of critical supply elements, including enzymes and amino acids, Asymchem ensures robust supply chain security and operational resilience from development through commercialization. Backed by a diverse team of scientists, Asymchem has successfully translated its proven small-molecule excellence into the TIDES arena, emerging as a professional, technology-leading One-stop partner. With comprehensive capabilities across design, development, and commercial manufacturing, Asymchem is ready to collaborate, co-develop, and navigate the shared journey with partners from laboratory innovation to reliable commercial supply.

Chinese (SSE) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Investor sentiment deteriorates as stock falls 20%

Dividend of CN¥1.58 announced

Now 22% overvalued

United Imaging Showcases Umr Jupiter 5T and Umr Ultra Along with Latest Mri Advancements

Now 20% undervalued after recent price drop

Investor sentiment improves as stock rises 22%

Hangzhou Tigermed Consulting Co., Ltd (SZSE:300347) announces an Equity Buyback for CNY 1,000 million worth of its shares.

Consensus EPS estimates increase by 17%, revenue downgraded

First quarter 2026 earnings released: CN¥0.067 loss per share (vs CN¥0.019 loss in 1Q 2025)

First quarter 2026 earnings released: EPS: CN¥0.40 (vs CN¥0.39 in 1Q 2025)

First quarter 2026 earnings released: EPS: CN¥0.29 (vs CN¥0.17 in 1Q 2025)

Intco Medical Technology Co., Ltd., Annual General Meeting, May 18, 2026

First quarter 2026 earnings released: EPS: CN¥0.56 (vs CN¥0.24 in 1Q 2025)

002422: Higher P/E Expectations And Completed Buyback Are Expected To Support Upside

Price target decreased by 19% to CN¥40.30

Asymchem Unveils Fully Integrated TIDES Commercial Supply Matrix