Hong Kong (HSI) Pharma Industry Analysis

Industry Valuation and Performance

Has the Hong Kong Pharma Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 23 Jun 2026	HK$609.3b	HK$521.7b	HK$29.3b	12.4x	20.8x	1.2x
Thu, 21 May 2026	HK$682.8b	HK$519.8b	HK$29.7b	14.3x	23x	1.3x
Sat, 18 Apr 2026	HK$796.0b	HK$517.2b	HK$30.2b	15.3x	26.3x	1.5x
Mon, 16 Mar 2026	HK$734.3b	HK$498.8b	HK$30.4b	12.4x	24.1x	1.5x
Wed, 11 Feb 2026	HK$842.1b	HK$497.2b	HK$30.5b	13.4x	27.6x	1.7x
Fri, 09 Jan 2026	HK$834.5b	HK$490.9b	HK$30.1b	13.4x	27.7x	1.7x
Sun, 07 Dec 2025	HK$829.5b	HK$484.6b	HK$29.7b	13.7x	27.9x	1.7x
Tue, 04 Nov 2025	HK$799.3b	HK$480.4b	HK$30.1b	14x	26.6x	1.7x
Thu, 02 Oct 2025	HK$788.9b	HK$479.7b	HK$30.6b	13.1x	25.8x	1.6x
Sat, 30 Aug 2025	HK$793.1b	HK$480.1b	HK$30.8b	13.5x	25.7x	1.7x
Mon, 28 Jul 2025	HK$723.6b	HK$476.0b	HK$29.1b	12.1x	24.9x	1.5x
Wed, 25 Jun 2025	HK$642.5b	HK$477.2b	HK$28.9b	11.9x	22.3x	1.3x
Fri, 23 May 2025	HK$551.5b	HK$475.9b	HK$29.1b	10.8x	19x	1.2x
Sun, 20 Apr 2025	HK$473.0b	HK$466.5b	HK$28.6b	10.2x	16.5x	1x
Tue, 18 Mar 2025	HK$463.3b	HK$465.4b	HK$32.0b	8.9x	14.5x	1x
Thu, 13 Feb 2025	HK$417.9b	HK$460.7b	HK$31.8b	8.7x	13.1x	0.9x
Sat, 11 Jan 2025	HK$400.2b	HK$459.2b	HK$31.7b	8.1x	12.6x	0.9x
Mon, 09 Dec 2024	HK$443.5b	HK$462.5b	HK$31.9b	8.3x	13.9x	1x
Wed, 06 Nov 2024	HK$452.4b	HK$472.2b	HK$32.7b	8.4x	13.8x	1x
Fri, 04 Oct 2024	HK$506.2b	HK$476.3b	HK$33.1b	7.8x	15.3x	1.1x
Sun, 01 Sep 2024	HK$444.0b	HK$474.5b	HK$32.9b	7.8x	13.5x	0.9x
Tue, 30 Jul 2024	HK$419.7b	HK$458.6b	HK$32.5b	7.5x	12.9x	0.9x
Thu, 27 Jun 2024	HK$446.0b	HK$461.9b	HK$33.8b	7.9x	13.2x	1x
Sat, 25 May 2024	HK$459.0b	HK$463.0b	HK$33.7b	8.5x	13.6x	1x
Mon, 22 Apr 2024	HK$423.1b	HK$464.6b	HK$33.8b	7.5x	12.5x	0.9x
Wed, 20 Mar 2024	HK$458.9b	HK$470.2b	HK$33.3b	7.6x	13.8x	1x
Fri, 16 Feb 2024	HK$415.4b	HK$472.6b	HK$33.8b	6.6x	12.3x	0.9x
Sun, 14 Jan 2024	HK$456.0b	HK$472.1b	HK$33.7b	7.6x	13.5x	1x
Tue, 12 Dec 2023	HK$469.3b	HK$471.4b	HK$33.6b	7.5x	14x	1x
Thu, 09 Nov 2023	HK$500.6b	HK$469.6b	HK$31.9b	7.1x	15.7x	1.1x
Sat, 07 Oct 2023	HK$424.5b	HK$469.6b	HK$31.6b	6.7x	13.4x	0.9x
Mon, 04 Sep 2023	HK$428.9b	HK$470.9b	HK$31.5b	6.9x	13.6x	0.9x
Wed, 02 Aug 2023	HK$486.8b	HK$446.5b	HK$27.9b	9.1x	17.5x	1.1x
Fri, 30 Jun 2023	HK$486.5b	HK$445.8b	HK$27.7b	9.7x	17.5x	1.1x

Current Industry PE

Investors are optimistic on the Hong Kong Pharmaceuticals industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 20.8x which is higher than its 3-year average PE of 18.3x.

The industry is trading close to its 3-year average PS ratio of 1.2x.

Past Earnings Growth

The earnings for companies in the Pharmaceuticals industry have remained mostly flat over the last three years.
Meanwhile revenues for these companies have grown 5.4% 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 and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the Hong Kong Healthcare industry?


HK Market	-4.48%
Healthcare	-3.45%
Pharma	-3.92%
Pharma	-3.92%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
6872 TenNor Therapeutics (Suzhou)	HK$273.00	7.5% +HK$983.3m	n/a	PB79.4x
719 Shandong Xinhua Pharmaceutical	HK$6.27	10.6% +HK$418.0m	-2.8%	PE14.4x
2652 CF PharmTech	HK$18.76	4.7% +HK$349.4m	n/a	PE2682.9x
2186 Luye Pharma Group	HK$1.88	2.7% +HK$199.7m	-48.9%	PE10.5x
6996 Antengene	HK$3.56	7.9% +HK$176.6m	8.2%	PS19.8x

Antengene Presents First Preclinical Data on ATG-207 At EULAR 2026

Antengene Corporation Limited presented the first preclinical data on ATG-207, amasked and TGFßRIII-biased CD3-TGF-ß bifunctional fusion protein in a poster presentation at the 2026 European Congress of Rheumatology (EULAR 2026), held from June 3 to 6 at Excel London in the United Kingdom. The data showed that ATG-207 preferentially binds TGFßRIII, rapidly downregulates T cell receptor expression on the T cell surface, induces regulatory T cells. Proteomic analysis revealed that ATG-207 markedly modulates functional remodeling of primary T cells. ATG-207 demonstrated potent therapeutic activity through a mouse surrogate molecule in experimental autoimmune encephalomyelitis and adoptive T cell transfer colitis mouse models, and was associated with substantially reduced proinflammatory cytokine release compared with an unbiased aCD3-TGF-ß fusion protein control. ATG-207 is designed to address these challenges through a differentiated dual mechanism that integrates CD3-mediated T cell modulation with localized, TGFßRIII-biased TGF-ß activity, with the goal of selectively suppressing pathogenic T cells while promoting regulatory T cell induction and immune tolerance. ATG-207 is designed to localize activity to T cells through CD3 engagement while delivering controlled, TGFßRIII-biased TGF-ß signaling. Its dynamic masking is intended to reduce systemic receptor engagement and limit off-target TGF-ß activity. By preferentially engaging TGFßRIII over TGFßRII, ATG-207 promotes TGF-ß responsiveness in T cells while potentially minimizing activity in non–T cell compartments. This coordinated mechanism supports regulatory T cell induction and attenuation of pathogenic T cell activity. ATG-207 showed preferential binding to TGFßRIII compared with TGFßRII and significantly reduced T cell receptor (TCR) expression on the surface of primary T cells. In healthy donor and systemic lupus erythematosus patient donor CD4+ T cells, ATG-207 demonstrated potent induced regulatory T cell activity, as measured by FOXP3 expression. Proteomic profiling of primary T cells treated with ATG-207 showed evidence of T cell functional remodeling, including changes in pathways associated with T cell signaling and immune regulation. In vivo, a mouse surrogate of ATG-207 demonstrated therapeutic activity in both experimental autoimmune encephalomyelitis, a multiple sclerosis model, and adoptive T cell transfer colitis, an inflammatory bowel disease model. In human whole blood assays, ATG-207 induced minimal production of pro-inflammatory cytokines, including IL-2, IL-6, TNF-a, and IFN-?. ATG-207 represents a differentiated immune tolerance–restoring strategy that integrates precision T cell targeting, context-restricted TGF-ß activity, and TGFßRIII-biased signaling. The preclinical data support its potential as a next-generation therapeutic approach for T cell–mediated autoimmune and inflammatory diseases.

Hong Kong (HSI) Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

China Medical System Holdings Limited Receives Approval for Silevimig Injection as World’S First Bispecific Antibody for Passive Immunization Against Rabies

Simcere Pharmaceutical Group (SEHK:2096) Stock Could Be 70% Below Fair Value After Stanford IPF Deal

Hansoh Pharmaceutical Group (SEHK:3692) Stock Could Be Below Fair Value After Hang Seng Index Inclusion

Luye Pharma Stock in Focus as LY03015 Hits Phase 2 Milestone for Tardive Dyskinesia

New major risk - Share price stability

Upcoming dividend of HK$0.15 per share

Upcoming dividend of HK$0.05 per share

Tennor Therapeutics (Suzhou) Limited Appoints Song Gaoguang as Member of Remuneration and Appraisal Committee, Effective June 8, 2026

Upcoming dividend of HK$0.14 per share

Antengene Presents First Preclinical Data on ATG-207 At EULAR 2026

Consun Pharmaceutical Group Invests RMB 191.4 Million for 30% Stake in Shanghai Huamao

Investor sentiment deteriorates as stock falls 15%

CF PharmTech, Inc., Annual General Meeting, Jun 26, 2026

Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co.,Ltd. Announces Board Changes, Effective 28 May 2026

Shandong Xinhua Pharmaceutical Company Limited, Annual General Meeting, Jun 26, 2026

Modern Chinese Medicine Group Co., Ltd., Annual General Meeting, May 29, 2026