CSPC Innovation Pharmaceutical Valuation

Q: What is the Fair Price of 300765 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

300765 (CN¥27.74) is trading above our estimate of [[fair value]] (CN¥22)

Is 300765 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 300765 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 300765 (CN¥27.74) is trading above our estimate of fair value (CN¥22)

Significantly Below Fair Value: 300765 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 300765?

Key metric: As 300765 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 300765. This is calculated by dividing 300765's market cap by their current earnings.
What is 300765's PE Ratio?
PE Ratio	75.3x
Earnings	CN¥513.13m
Market Cap	CN¥38.63b

300765 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	18.7x
Enterprise Value/EBITDA	58.4x
PEG Ratio	2x

Price to Earnings Ratio vs Peers

How does 300765's PE Ratio compare to its peers?

The above table shows the PE ratio for 300765 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	73.6x
002294 Shenzhen Salubris Pharmaceuticals	60.3x	15.5%	CN¥36.8b
600079 Humanwell Healthcare (Group)Ltd	19.6x	13.7%	CN¥38.3b
002653 Haisco Pharmaceutical Group	84.3x	35.7%	CN¥40.2b
600518 Kangmei Pharmaceutical	130.2x	n/a	CN¥33.3b
300765 CSPC Innovation Pharmaceutical	75.3x	37.5%	CN¥38.6b

Price-To-Earnings vs Peers: 300765 is expensive based on its Price-To-Earnings Ratio (75.3x) compared to the peer average (73.6x).

Price to Earnings Ratio vs Industry

How does 300765's PE Ratio compare vs other companies in the CN Pharmaceuticals Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap

No more companies available in this PE range

0 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 300765 is expensive based on its Price-To-Earnings Ratio (75.3x) compared to the CN Pharmaceuticals industry average (30.9x).

Price to Earnings Ratio vs Fair Ratio

What is 300765's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

300765 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	75.3x
Fair PE Ratio	41.1x

Price-To-Earnings vs Fair Ratio: 300765 is expensive based on its Price-To-Earnings Ratio (75.3x) compared to the estimated Fair Price-To-Earnings Ratio (41.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 300765 forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CN¥27.74	CN¥40.96 +47.7%	8.2%	CN¥45.00	CN¥37.00	n/a	4
Nov ’25	CN¥25.11	CN¥40.46 +61.1%	7.8%	CN¥45.00	CN¥37.00	n/a	5
Oct ’25	CN¥30.90	CN¥39.27 +27.1%	6.1%	CN¥43.30	CN¥37.00	n/a	4
Sep ’25	CN¥24.24	CN¥38.27 +57.9%	9.5%	CN¥43.30	CN¥33.00	n/a	4
Aug ’25	CN¥23.94	CN¥38.32 +60.1%	9.7%	CN¥43.50	CN¥33.00	n/a	4
Jul ’25	CN¥25.62	CN¥40.10 +56.5%	6.0%	CN¥43.50	CN¥38.33	n/a	3
Jun ’25	CN¥31.32	CN¥40.10 +28.0%	6.0%	CN¥43.50	CN¥38.33	n/a	3
May ’25	CN¥34.27	CN¥40.10 +17.0%	6.0%	CN¥43.50	CN¥38.33	n/a	3
Apr ’25	CN¥31.71	CN¥40.18 +26.7%	6.3%	CN¥43.75	CN¥38.33	n/a	3
Mar ’25	CN¥28.40	CN¥41.21 +45.1%	6.2%	CN¥43.75	CN¥38.67	n/a	2
Feb ’25	CN¥22.82	CN¥41.21 +80.5%	6.2%	CN¥43.75	CN¥38.67	n/a	2
Jan ’25	CN¥30.52	CN¥41.21 +35.0%	6.2%	CN¥43.76	CN¥38.67	n/a	2

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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