Eyebright Medical Technology (Beijing)'s (SHSE:688050) Profits May Not Reveal Underlying Issues
Apr 24
Chinese (SSE) Medical Equipment Industry Analysis
UpdatedApr 25, 2024
DataAggregated Company Financials
Companies102
- 7D4.0%
- 3M-3.9%
- 1Y-16.8%
- YTD-11.1%
In the last week, the Medical Equipment industry is up 4.0%, with Shenzhen Mindray Bio-Medical Electronics up 4.7%. In the same time, Shandong Pharmaceutical GlassLtd was down 9.7%. In the past year, the industry is down 17%. Looking forward, earnings are forecast to grow by 21% annually.
Industry Valuation and Performance
Has the Chinese Medical Equipment Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 25 Apr 2024 | CN¥1.2t | CN¥212.3b | CN¥39.3b | 27.1x | 31.1x | 5.8x |
| Sat, 23 Mar 2024 | CN¥1.3t | CN¥218.2b | CN¥40.5b | 29.3x | 31.4x | 5.8x |
| Mon, 19 Feb 2024 | CN¥1.3t | CN¥221.2b | CN¥41.0b | 26x | 30.8x | 5.7x |
| Wed, 17 Jan 2024 | CN¥1.3t | CN¥221.2b | CN¥39.8b | 32.7x | 32.5x | 5.8x |
| Fri, 15 Dec 2023 | CN¥1.4t | CN¥221.2b | CN¥39.8b | 35.1x | 34.7x | 6.2x |
| Sun, 12 Nov 2023 | CN¥1.3t | CN¥223.5b | CN¥40.9b | 34.4x | 32.6x | 6x |
| Tue, 10 Oct 2023 | CN¥1.3t | CN¥226.7b | CN¥41.9b | 31.4x | 30.7x | 5.7x |
| Thu, 07 Sep 2023 | CN¥1.2t | CN¥230.2b | CN¥43.3b | 30.1x | 28.8x | 5.4x |
| Sat, 05 Aug 2023 | CN¥1.3t | CN¥233.5b | CN¥45.5b | 31.6x | 29.5x | 5.8x |
| Mon, 03 Jul 2023 | CN¥1.4t | CN¥230.8b | CN¥44.5b | 34.4x | 31.4x | 6.1x |
| Wed, 31 May 2023 | CN¥1.4t | CN¥230.3b | CN¥44.3b | 36.9x | 32.6x | 6.3x |
| Fri, 28 Apr 2023 | CN¥1.5t | CN¥255.7b | CN¥62.9b | 37.4x | 23.1x | 5.7x |
| Sun, 26 Mar 2023 | CN¥1.4t | CN¥253.2b | CN¥62.9b | 34.7x | 22.6x | 5.6x |
| Tue, 21 Feb 2023 | CN¥1.5t | CN¥251.7b | CN¥64.1b | 36.3x | 24x | 6.1x |
| Thu, 19 Jan 2023 | CN¥1.5t | CN¥251.5b | CN¥64.1b | 35.2x | 23.9x | 6.1x |
| Sat, 17 Dec 2022 | CN¥1.5t | CN¥251.2b | CN¥64.1b | 33.9x | 22.9x | 5.8x |
| Mon, 14 Nov 2022 | CN¥1.5t | CN¥250.8b | CN¥64.0b | 35.1x | 23.4x | 6x |
| Wed, 12 Oct 2022 | CN¥1.4t | CN¥242.1b | CN¥62.3b | 30.3x | 21.8x | 5.6x |
| Fri, 09 Sep 2022 | CN¥1.3t | CN¥238.5b | CN¥60.2b | 31.2x | 22.1x | 5.6x |
| Sun, 07 Aug 2022 | CN¥1.2t | CN¥227.6b | CN¥61.9b | 32.2x | 20.1x | 5.5x |
| Tue, 05 Jul 2022 | CN¥1.3t | CN¥226.0b | CN¥61.6b | 33.1x | 21.6x | 5.9x |
| Thu, 02 Jun 2022 | CN¥1.2t | CN¥225.9b | CN¥61.6b | 29.5x | 19.4x | 5.3x |
| Sat, 30 Apr 2022 | CN¥1.2t | CN¥207.1b | CN¥51.2b | 27.4x | 22.8x | 5.6x |
| Mon, 28 Mar 2022 | CN¥1.3t | CN¥198.9b | CN¥52.6b | 32.6x | 24.2x | 6.4x |
| Wed, 23 Feb 2022 | CN¥1.3t | CN¥197.6b | CN¥52.7b | 33.6x | 25.3x | 6.8x |
| Fri, 21 Jan 2022 | CN¥1.5t | CN¥196.1b | CN¥52.5b | 38.1x | 28.2x | 7.5x |
| Sun, 19 Dec 2021 | CN¥1.5t | CN¥195.9b | CN¥52.3b | 39.5x | 28.3x | 7.6x |
| Tue, 16 Nov 2021 | CN¥1.4t | CN¥190.8b | CN¥50.6b | 38x | 28x | 7.4x |
| Thu, 14 Oct 2021 | CN¥1.5t | CN¥194.4b | CN¥56.4b | 39.3x | 26.1x | 7.6x |
| Sat, 11 Sep 2021 | CN¥1.4t | CN¥194.4b | CN¥56.4b | 39.7x | 24.3x | 7.1x |
| Mon, 09 Aug 2021 | CN¥1.6t | CN¥193.8b | CN¥55.2b | 44.9x | 28.9x | 8.2x |
| Sun, 02 May 2021 | CN¥1.7t | CN¥190.9b | CN¥55.8b | 37.5x | 30.3x | 8.9x |
Price to Earnings Ratio
30.3x
Current Industry PE
- Investors are optimistic on the Chinese Medical Equipment industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 31.1x which is higher than its 3-year average PE of 27.0x.
- The 3-year average PS ratio of 6.4x is higher than the industry's current PS ratio of 5.8x.
Past Earnings Growth
- The earnings for companies in the Medical Equipment industry have declined 11% per year over the last three years.
- Meanwhile revenues for these companies have grown 3.6% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Chinese Healthcare industry?
| CN Market | -0.42% | |
| Healthcare | 0.77% | |
| Medical Equipment | 4.02% | |
| Medical Supplies | 4.14% | |
| Medical Equipment | 3.98% | |
Industry PE
- Investors are most optimistic about the Medical Equipment industry, which is trading close to its 3-year average PE ratio of 33.3x.
- Analysts are expecting annual earnings growth of 21.7%, which is higher than its past year's earnings growth of 1.0% per year.
- Investors are most pessimistic about the Medical Supplies industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 21.3x.
Forecasted Growth
- Analysts are most optimistic on the Medical Equipment industry, expecting annual earnings growth of 22% over the next 5 years.
- This is better than its past earnings growth rate of 1.0% per year.
- In contrast, the Medical Supplies industry is expected to see its earnings grow by 21% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 300760 Shenzhen Mindray Bio-Medical Electronics | CN¥285.10 | 4.7% +CN¥15.6b | -7.7% | PE30.4x | |
| 688271 Shanghai United Imaging Healthcare | CN¥127.39 | 3.7% +CN¥3.7b | -15.7% | PE53.2x | |
| 300832 Shenzhen New Industries Biomedical Engineering | CN¥68.40 | 6.2% +CN¥3.1b | 19.6% | PE32.5x | |
| 300482 Guangzhou Wondfo BiotechLtd | CN¥26.83 | 20.9% +CN¥2.2b | -10.1% | PE25x | |
| 300298 Sinocare | CN¥23.17 | 16.0% +CN¥1.8b | -23.5% | PE35.5x |
