Recent Insider Transactions • Jun 10
Co-Founder recently bought €870k worth of stock On the 8th of June, Jing Lou bought around 516k shares on-market at roughly €1.69 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jing's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €1.63, the stock trades at a forward P/E ratio of 12x. Average trailing P/E is 17x in the Biotechs industry in Europe. Total returns to shareholders of 107% over the past three years. New Risk • Jun 02
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 40% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.2% average weekly change). Declared Dividend • May 21
Dividend of HK$0.25 announced Shareholders will receive a dividend of HK$0.25. Ex-date: 21st July 2026 Payment date: 4th August 2026 Dividend yield will be 12%, which is higher than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (6% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 19% per year over the past 8 years. However, payments have been volatile during that time. EPS is expected to decline by 80% over the next 3 years. However, it would need to fall by 93% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 02
3SBio Inc. Resolves to Declare Final Dividend for the Year Ended 31 December 2025, Payable on or Around 4 August 2026 The Board of 3SBio Inc. resolved to declare a final dividend of 25 HK cents per share for the year ended 31 December 2025 (2024: 25 HK cents) to those shareholders whose names appeared on the register of members of the Company on 27 July 2026, which will be paid out of the Company's share premium account. Subject to the approval of shareholders of the Company at the forthcoming annual general meeting ("AGM"), the final dividend will be paid in cash on or around 4 August 2026. Announcement • Mar 31
3SBio Inc., Annual General Meeting, Jun 25, 2026 3SBio Inc., Annual General Meeting, Jun 25, 2026. Announcement • Mar 17
3SBio Inc. to Report Fiscal Year 2025 Results on Mar 30, 2026 3SBio Inc. announced that they will report fiscal year 2025 results on Mar 30, 2026 Announcement • Dec 10
3SBio Inc. has completed a Follow-on Equity Offering in the amount of HKD 3.115121 billion. 3SBio Inc. has completed a Follow-on Equity Offering in the amount of HKD 3.115121 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 105,169,500
Price\Range: HKD 29.62
Transaction Features: Subsequent Direct Listing Announcement • Dec 03
3SBio Inc. has filed a Follow-on Equity Offering in the amount of HKD 3.115121 billion. 3SBio Inc. has filed a Follow-on Equity Offering in the amount of HKD 3.115121 billion.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 105,169,500
Price\Range: HKD 29.62
Transaction Features: Subsequent Direct Listing Announcement • Aug 19
3SBio Inc. to Report First Half, 2025 Results on Aug 29, 2025 3SBio Inc. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • Aug 01
3SBio Inc. has completed a Follow-on Equity Offering in the amount of HKD 784.962284 million. 3SBio Inc. has completed a Follow-on Equity Offering in the amount of HKD 784.962284 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,142,500
Price\Range: HKD 25.2055 Announcement • Apr 17
3SBio Inc. Receives Breakthrough Therapy Designation by China's National Medical Products Administration 3SBio Inc. on a voluntary basis. On 17 April, 2025, the anti-VEGF/PD-1 bispecific antibody (R&D code: 707 Injection), independently developed by 3SBio, was granted a Breakthrough Therapy Designation ("BTD") by China's National Medical Products Administration (" NMPA"). The designated indication is the first-line treatment of PD-L1 positive locally advanced or metastatic non-small cell lung cancer ("NSCLC"). 707 Injection is a bispecific antibody targeting VEGF/PD-1, independently developed by 3SBio based on its proprietary CLF2 platform. It is currently undergoing multiple clinical studies in China, including a phase III clinical study for the first-line treatment ofPD-1 positive locally advanced and metastatic NSCLC already approved by the Center for Drug Evaluation ("CDE") of the NMPA. Additionally, 707 Injection is undergoing several phase II studies in China, including combination therapy with chemotherapy for the first-line treatment of advanced NSCLC, metastatic colorectal cancer, and advanced gynecological tumours. It has also received approval from the U.S. Food and Drug Administration in relation to its Investigational New Drug application. The CDE will provide policy support for drugs that have been granted BTDs, prioritize resource allocation for communication, enhance guidance, and accelerate drug development. When submitting a New Drug Application, if it is evaluated to meet the relevant conditions, the qualification for priority review and approval may be granted, expediting the market launch process. There is no assurance that the product will eventually be commercialized successfully. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company. Announcement • Mar 07
3SBio Inc. to Report Fiscal Year 2024 Results on Mar 25, 2025 3SBio Inc. announced that they will report fiscal year 2024 results on Mar 25, 2025 Reported Earnings • Oct 02
First half 2024 earnings released: EPS: CN¥0.45 (vs CN¥0.40 in 1H 2023) First half 2024 results: EPS: CN¥0.45 (up from CN¥0.40 in 1H 2023). Revenue: CN¥4.39b (up 16% from 1H 2023). Net income: CN¥1.09b (up 11% from 1H 2023). Profit margin: 25% (down from 26% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Oct 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Reported Earnings • Aug 26
First half 2024 earnings released: EPS: CN¥0.45 (vs CN¥0.40 in 1H 2023) First half 2024 results: EPS: CN¥0.45 (up from CN¥0.40 in 1H 2023). Revenue: CN¥4.39b (up 16% from 1H 2023). Net income: CN¥1.09b (up 11% from 1H 2023). Profit margin: 25% (down from 26% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Aug 12
3SBio Inc. to Report First Half, 2024 Results on Aug 22, 2024 3SBio Inc. announced that they will report first half, 2024 results on Aug 22, 2024 Upcoming Dividend • Jul 15
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 22 July 2024. Payment date: 05 August 2024. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.7%). Announcement • Apr 23
3Sbio Inc. Announces Management Changes 3SBio Inc. announced that in accordance with the articles of association of the Company, Dr. ZHANG Dan ("Dr. Zhang"), an independent non-executive Director, will retire by rotation at the forthcoming annual general meeting (the "AGM") of the Company which is to be held on 25 June 2024. He will not seek for re-election due to his other business commitments. His retirement will take effect upon the conclusion of the AGM and, accordingly, he will cease to be a member of the remuneration committee of the Board ("Remuneration Committee") at the conclusion of the AGM. The Board further announces that Mr. NG, Joo Yeow Gerry, an independent non-executive Director, has been appointed by the Board as a member of the Remuneration Committee with effect immediately after the conclusion of the 2023 AGM to be held on 25 June 2024. New Risk • Mar 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Announcement • Mar 06
3SBio Inc. to Report Fiscal Year 2023 Results on Mar 20, 2024 3SBio Inc. announced that they will report fiscal year 2023 results on Mar 20, 2024 New Risk • Feb 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Announcement • Jan 09
Mandi Foam of 3SBio Inc. Approves for Market Launch 3SBio Inc. announced that the application for market launch of Mandi (5% minoxidil) Foam as an over-the-counter drug for the treatment of androgenetic alopecia and alopecia areata by its subsidiary, Zhejiang Wansheng Pharmaceutical Co. Ltd., to the National Medical Products Administration (NMPA) of the PRC has been approved. Mandi Foam is the new-generation anti-hair loss and hair growth product of 3SBio group based on Minoxidil Tincture (trade name: Mandi), which is also the first domestic minoxidil foam approved for market launch. Previously, the result of such product in "a multi-centered, double-blind, randomized controlled clinical trial to assess the efficacy of Mandi Foam and ROGAINE® (5% Minoxidil Foam) on patients with androgenetic alopecia in terms of their equivalence, safety and tolerability" reached the preset statistical end point, indicating that the efficacy of Mandi Foam is equivalent to that of the controlled medicine, ROGAINE®. Minoxidil is currently a first-line topical drug for the clinical treatment of androgenetic alopecia. Mandi Foam has better transdermal speed and scalp accumulation rate, with milder scalp tolerance, rendering it a better choice for alopecia users. Reported Earnings • Oct 01
First half 2023 earnings released: EPS: CN¥0.40 (vs CN¥0.40 in 1H 2022) First half 2023 results: EPS: CN¥0.40 (up from CN¥0.40 in 1H 2022). Revenue: CN¥3.78b (up 22% from 1H 2022). Net income: CN¥980.6m (up 1.4% from 1H 2022). Profit margin: 26% (down from 31% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Aug 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Aug 12
3SBio Inc. to Report First Half, 2023 Results on Aug 24, 2023 3SBio Inc. announced that they will report first half, 2023 results on Aug 24, 2023 Buying Opportunity • Aug 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be €0.96, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 24%. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings is also forecast to grow by 0.08% per annum over the same time period. Announcement • Jul 29
3Sbio Inc. Announces Appointment of He Xiang as Chief Financial Officer 3SBio Inc. announced that with effect from 3 July 2023, Mr. HE Xiang ("Mr. He") has been appointed as the new chief financial officer of the Company. Mr. He will be responsible for investment and finance activities, as well as investor relations management of the Group. The biographical details of Mr. He are as follows: Mr. He graduated from the Guanghua School of Management of Peking University with a master degree in Finance. He has served Citigroup and J.P. Morgan investment banking in Beijing, Shanghai, New York and Hong Kong, and has 15 years of experience in investments, financings, and capital markets. He is a registered sponsor principal with the Securities and Futures Commission of Hong Kong. During his tenure in J.P. Morgan, he held different roles including Head of Corporated Finance and Head of Financial Institutions for China, and gained extensive experiences in equity private placements, initial public offerings, follow-on offerings and mergers and acquisitions for various corporates across pharmaceutical, healthcare as well as other sectors. Announcement • Jul 06
3SBio Inc. Announces Narfuraphine Hydrochloride Orally Disintegrating Tablets Co-Developed by 3Sbio Inc. and Toray in Japan Approved for Launch in the Market 3SBio Inc. announced that the new drug application of narfuraphine hydrochloride orally disintegrating tablets submitted to the National Medical Products Administration of China (NMPA) being approved for launch in the market. This is a voluntary announcement made by the Company. There is no assurance that the Company will eventually successfully launch and/or commercialize the product. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company. 3SBio Inc. announced that The new drug application of narfurphine hydrochloride orally disintegrated tablets (Li Mei Zhi®?, trade name in Japan; " remitsuchiODDING 2.5ug") submitted To the National Medical Products Administration ofChina (NMPA) has been approved (Guoyaozhunzi No. HJ20230091) for the improvement of pruritus in hemodialysis patients (only in cases where the efficacy of existing treatments is not satisfactory). This is the first and only selective k (kappa)-opioid receptor agonist approved by the NMPA to treat hemodialysis patients with refractory pruritus. In addition, the clinical trial application for this product to improve pruritus in patients with chronic liver disease (only in cases where the effectiveness of existing treatments is not satisfactory) was approved in May this year (Notice No.: 2023LP00912). Hemodialysis patients are often accompanied by various complications such as anemia, hypertension, abnormal calcium and phosphorus metabolism, hyperthyroidism, and pruritus. Currently, there is still no recognized effective treatment for pruritus in most of the patients, which causes great mental and physical pain to the patients and significantly reduces their quality of life. Upcoming Dividend • Jun 20
Upcoming dividend of HK$0.10 per share at 1.3% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 11 July 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (1.4%). Reported Earnings • Mar 22
Full year 2022 earnings released: EPS: CN¥0.78 (vs CN¥0.65 in FY 2021) Full year 2022 results: EPS: CN¥0.78 (up from CN¥0.65 in FY 2021). Revenue: CN¥6.86b (up 7.5% from FY 2021). Net income: CN¥1.91b (up 16% from FY 2021). Profit margin: 28% (up from 26% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in Europe. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jan 04
3SBio Inc. Announces Resignation of Tang Ke as Non-Executive Director 3SBio Inc. provided supplemental information on the resignation of Mr. Tang Ke. Mr. Tang tendered his resignation as a non-executive Director as he needs to devote more time to his personal commitments and there are no other matters in respect of his resignation that need to be brought to the attention of the Shareholders or the Stock Exchange. Announcement • Dec 31
3Sbio Inc. Announces Executive Changes The board (the "Board") of directors (the "Directors") of 3SBio Inc. (the "Company") announced that with effect from 30 December 2022, Mr. Tang Ke ("Mr. Tang") has resigned as a non-executive Director and a member of the remuneration committee (the "Remuneration Committee") of the Company. The Board further announces that with effect from 30 December 2022, Dr. Zhang Dan () "Dr. Zhang") has been appointed as an independent non-executive Director. Dr. Zhang Dan, aged 59, has extensive experience in the field of medicine and pharmaceuticals, and has held numerous respectable and prestigious positions in the industry. Dr. Zhang served as the first chairman of the board of directors (Greater China region) and the Vice- President of the US company, Quintiles Transnational Corp. Dr. Zhang had experience working at Sigma Tauresearch Inc., a company established in Italy, during which he was in charge of the clinical development and safety evaluations of drugs in respect of the market in North America. In 2007, Dr. Zhang co-founded ClinChoice Inc. (formerly known as FMD China, a clinical contract research organization (CRO) dedicated to the development of innovative medicines. He was the chairman of this company from 2007 to 2019, and has been the Chief Strategy Officer and a director of this company since 2020. He has also served as (i) the Chief Scientist at Shenzhen Grandbaybio Development Consulting Co. Limited since 2020; (ii) the co-chairman of the board of directors of Hong Ji Biotechnology (Beijing) Co. Limited since 2021; and (iii) the co-chairman of the board of directors of Jiangsu Hillgene Medical Co. Limited since 2022. Dr. Zhang served as a consultant and a visiting professor at Peking Union Medical College and Harbin Medical University, respectively. Dr. Zhang has been a board member of China Pharmaceutical Innovation and Research Development Association (PhIRDA) from 2020 to 2022. He currently also serves as the head of the ICH E19 IFPMA expert committee and a ICH working group expert in the National Medical Products Administration (NMPA). Dr. Zhang completed his pre-medical training at the Department of Biology at Peking University in 1984. He then studied Medicine at Peking Union Medical College from 1981 to 1989, and was subsequently awarded with a Doctor of Medicine by the State Council of the PRC government. He further obtained a Master of Public Health degree from Harvard University in 1990 and a Master of Science in Health Care Management degree in 1995 from the Wharton School of the University of Pennsylvania. He was also elected as a foreign member of the Russian Academy of Engineering in 2020. Dr. Zhang has entered into a letter of appointment with the Company in respect of the appointment as an independent non-executive Director for a term of one year commencing from 30 December 2022. Pursuant to the letter of appointment, Dr. Zhang is entitled to a director's fee of HKD 300,000 per annum, which was determined by the Board on the recommendation of the Remuneration Committee, having considered Dr. Zhang's expected contribution to the Company in terms of time, effort and his expertise, and with reference to the level of remuneration of the other independent non-executive Directors. Pursuant to the second amended and restated articles of association of the Company, Dr. Zhang shall hold office until the next following annual general meeting of the Company following his appointment and shall then be eligible for re-election at the meeting and thereafter, shall be subject to retirement by rotation at the annual general meetings of the Company at least once every three years. In light of the above resignation of non-executive Director and appointment of independent non-executive Director, with effect from 30 December 2022, Dr. Zhang has been appointed as a member of the Remuneration Committee. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Joo Yeow Gerry Ng was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 04
First half 2022 earnings released: EPS: CN¥0.39 (vs CN¥0.35 in 1H 2021) First half 2022 results: EPS: CN¥0.39 (up from CN¥0.35 in 1H 2021). Revenue: CN¥3.09b (flat on 1H 2021). Net income: CN¥954.5m (up 6.2% from 1H 2021). Profit margin: 31% (up from 29% in 1H 2021). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 25
First half 2022 earnings released: EPS: CN¥0.39 (vs CN¥0.35 in 1H 2021) First half 2022 results: EPS: CN¥0.39 (up from CN¥0.35 in 1H 2021). Revenue: CN¥3.09b (flat on 1H 2021). Net income: CN¥954.5m (up 6.2% from 1H 2021). Profit margin: 31% (up from 29% in 1H 2021). Over the next year, revenue is forecast to grow 18%, compared to a 10% growth forecast for the Biotechs industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • Aug 13
3SBio Inc. to Report Q2, 2022 Results on Aug 24, 2022 3SBio Inc. announced that they will report Q2, 2022 results on Aug 24, 2022 Announcement • Jun 23
3SBio Inc. Approves Final Dividend for the Year Ended 31 December 2021 3SBio Inc. at the AGM held on 22 June 2022, approved to declare a final dividend of 20 HongKong cents per ordinary share for the year ended 31 December 2021. Upcoming Dividend • Jun 20
Upcoming dividend of HK$0.20 per share Eligible shareholders must have bought the stock before 27 June 2022. Payment date: 11 July 2022. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.5%). Higher than average of industry peers (1.5%). Announcement • May 12
3Sbio Inc. Announces Phase III Clinical Study of It's Recombinant Human Thrombopoietin (Rhtpo) Injection (Tpiao ) 3SBio Inc. provided to the shareholders of the company the attached press release in respect of a multicenter, randomized, double-blind, placebo-controlled study on the safety, efficacy, and pharmacokinetics of recombinant human thrombopoietin (rhTPO) injection (TPIAO) developed and launched by the Company in children or adolescents with chronic primary immune thrombocytopenia (ITP), which has met the pre-defined primary endpoint. Reported Earnings • May 01
Full year 2021 earnings released: EPS: CN¥0.65 (vs CN¥0.33 in FY 2020) Full year 2021 results: EPS: CN¥0.65 (up from CN¥0.33 in FY 2020). Revenue: CN¥6.38b (up 14% from FY 2020). Net income: CN¥1.65b (up 98% from FY 2020). Profit margin: 26% (up from 15% in FY 2020). Products in clinical trials Phase I: 8 Phase II: 8 Phase III: 3 Post-clinical trial products Pre-registration: 8 Over the next year, revenue is forecast to grow 11%, compared to a 44% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Joo Yeow Gerry Ng was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 31
3SBio Inc., Annual General Meeting, Jun 22, 2022 3SBio Inc., Annual General Meeting, Jun 22, 2022. Agenda: To consider to declare a final dividend of HKD20 cents per share for the year ended 31 December 2021. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: CN¥0.65 (vs CN¥0.33 in FY 2020) Full year 2021 results: EPS: CN¥0.65 (up from CN¥0.33 in FY 2020). Revenue: CN¥6.38b (up 14% from FY 2020). Net income: CN¥1.65b (up 98% from FY 2020). Profit margin: 26% (up from 15% in FY 2020). Over the next year, revenue is forecast to grow 14%, compared to a 88% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Announcement • Mar 30
3Sbio Inc. Proposes Final Cash Dividend for the Year Ended 31 December 2021, Payable on or around 11 July 2022 The Board of 3SBio Inc. proposed to declare a final dividend of 20 HK cents per share for the year ended 31 December 2021 (2020: Nil) to those shareholders whose names appeared on the register of members of the company on 4 July 2022. Subject to the approval of shareholders of the company at the forthcoming annual general meeting, the final dividend will be paid in cash on or around 11 July 2022. Announcement • Feb 08
3SBio Inc. Provides Earnings Guidance for the Year Ended 31 December 2021 3SBio Inc. provided earnings guidance for the year ended 31 December 2021. For the year, the company expected that the net profit and the profit attributable to equity shareholders will record an increase ranging from 100% to 120% and 90% to 110%, respectively, compared with those for the corresponding period of last year. Reported Earnings • Oct 03
First half 2021 earnings released: EPS CN¥0.35 (vs CN¥0.28 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥3.11b (up 15% from 1H 2020). Net income: CN¥898.9m (up 28% from 1H 2020). Profit margin: 29% (up from 26% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Announcement • Aug 31
3Sbio Inc Announces Phase III Clinical Trial of 5% Minoxidil Foam by 3Sbio Inc. Reaching the Preset End Point 3SBio Inc. announced that the "multi-centered, double-blind, randomized controlled clinical trial of the efficacy on patients with androgenetic alopecia to assess 5% Minoxidil Foam and ROGAINE® (5% Minoxidil Foam) in terms of their equivalence, safety and tolerability" has reached the preset statistical end point. The result indicates that in this study, the efficacy of the trial medicine, 5% Minoxidil Foam, is equivalent to that of the controlled medicine, ROGAINE®. 3SBio Inc. plans to submit the new drug application to the National Medical Products Administration in the fourth quarter of 2021. The primary purpose of this phase III clinical trial is to assess whether there is similarity and equivalence in clinical efficacy between the 5% Minoxidil Foam and the controlled medicine, ROGAINE®, through treatment on subjects with Androgenetic Alopecia by administering 5% Minoxidil Foam and ROGAINE®, respectively, while assessing the average movement of the terminal hair density of subjects by hair micrograph analytical system as compared with the baseline after treatment for 24 weeks as the main end point of efficacy. The secondary purpose is to compare 5% Minoxidil Foam with the controlled medicine in terms of their safety and tolerability. The result of statistical analysis indicates that at a 95% Confidence Interval, the efficacy difference between
those subjects treated with trial medicine and those treated with the controlled medicine respectively for 24 weeks falls within the preset equivalence margin, which satisfies the requirements of equivalence, and it can be considered that the efficacy on the trial medicine group is equivalent to that on the controlled medicine group. No severe adverse events or doubtful and unexpected severe adverse reactions related to the studied medicines occurred in the course of the study. In recent years, there is an upswing in the trend of the population suffering from hair loss in China. As indicated by the research on the population suffering from hair loss published by the National
Health Commission, the population suffering from hair loss in China has exceeded 250 million. Androgenetic alopecia is the most common illness in relation to balding, and the prevalence of androgenetic alopecia in China is approximately 21.3% and approximately 6.0% for male and female, respectively. Androgenetic alopecia has significant impact on the mental health and quality of life of patients, and its treatment mainly include drugs for oral administration, topical drugs and hair transplantation. Currently, minoxidil is the top-tier topical drug for clinical treatment of androgenetic alopecia. The most common adverse reaction for conventional minoxidil solution is
contact dermatitis, and minoxidil foam will be able to lower the occurrence rate of local irritation such as pruritus as it does not contain propylene glycol, a potential irritant, and is more convenient to apply. Reported Earnings • Aug 27
First half 2021 earnings released: EPS CN¥0.35 (vs CN¥0.28 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥3.11b (up 15% from 1H 2020). Net income: CN¥898.9m (up 28% from 1H 2020). Profit margin: 29% (up from 26% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Jul 23
3Sbio Inc. Announces Results of A Bridging Phase Iii Clinical Trial of Narfuraphine Hydrochloride Orally Disintegrating Tablets (Trk-820) Reaching the Preset End Point 3SBio Inc. and Toray Industries Inc. announced that the "randomized, double-blind, placebo-controlled multi-centered bridging clinical study on narfuraphine hydrochloride orally disintegrating tablets (R&D Code: TRK-820) for treatment of maintenance hemodialysis patients with refractory pruritus" has reached the preset clinical study endpoint. The result indicates that the main efficacy indicators of the 5g group and the 2.5g group of this study have all been bridged successfully and these outcomes are consistent with the results of Japan's Phase III trial. 3SBio expects that the new drug application will be submitted to the National Medical Products Administration in the fourth quarter of 2021. In December 2017, Toray granted 3SBio the exclusive right to develop and commercialize the formulas of certain TRK-820 orally disintegrating tablets in the People's Republic of China, excluding Hong Kong, Macau and Taiwan. According to the results of the global survey DOPPS, 82% of hemodialysis patients in country are suffering from skin itching in various degrees. Among them, the proportion of patients suffering from moderate or higher level of skin itching is as high as 39%, and patients suffering from severe or acutely severe skin itching are up to 19%. Pruritus and the accompanying persistent sleep obstacles have become one of the important causes of depression suffered by hemodialysis patients, there is also a clear correlation between the state of depression and the increased death rates in hemodialysis patients. At present, antihistamines are one of the most commonly used drugs for treatment of skin pruritus in China, but antihistamines are not effective enough for curing the pruritus contracted by hemodialysis patients suffering from pruritus, and using antihistamines alone is quite difficult to improve their quality of life. The therapeutic effect of other treatments ranging from local phototherapy to skin lubricants, topical hormones, oral gabapentin or pregabalin is also limited. For those hemodialysis patients who do not experience satisfactory results from such treatments for pruritus, there is presently no effective treatment method. The primary objective of this bridging trial is to evaluate the effectiveness of nalfuraphine hydrochloride orally disintegrating tablets for the treatment of patients with refractory pruritus caused by chronic renal failure with maintenance hemodialysis, and to bridge it with Japan's effectiveness data. The secondary objectives include evaluating the safety of narfuraphine hydrochloride orally disintegrating tablets for treatment of patients with refractory pruritus caused by chronic renal failure with maintenance hemodialysis, and estimating the drug concentration of multiple oral administration of narfuraphine hydrochloride orally disintegrating tablets for patients with hemodialysis pruritus in China. The subjects with hemodialysis pruritus were treated with either 5g of nalfuraphine hydrochloride orally disintegrating tablets, or 2.5g of nalfuraphine hydrochloride orally disintegrating tablets, or treated with a placebo. The results indicate that doses of 5g and 2.5g of nalfuraphine hydrochloride orally disintegrating tablets can safely improve the symptoms of hemodialysis patients with refractory pruritus when compared with the placebo. Executive Departure • Jul 20
Company Secretary Suet Wing Leung has left the company On the 17th of July, Suet Wing Leung's tenure as Company Secretary ended after 2.9 years in the role. We don't have any record of a personal shareholding under Suet Wing's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.25 years. Executive Departure • Jul 06
Independent Non-Executive Director David Parkinson has left the company On the 29th of June, David Parkinson's tenure as Independent Non-Executive Director ended after 6.1 years in the role. We don't have any record of a personal shareholding under David's name. David is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.25 years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥1.26, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 21x in the Biotechs industry in Europe. Total loss to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.35 per share. Reported Earnings • May 03
Full year 2020 earnings released: EPS CN¥0.33 (vs CN¥0.38 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥5.59b (up 5.1% from FY 2019). Net income: CN¥835.8m (down 14% from FY 2019). Profit margin: 15% (down from 18% in FY 2019). The decrease in margin was driven by higher expenses. Products in clinical trials Phase I: 11 Phase II: 4 Phase III: 4 Post-clinical trial products Pre-registration: 2 Approved (during full year): 1 Launched (during full year): 1 Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 31
Full year 2020 earnings released: EPS CN¥0.33 (vs CN¥0.38 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥5.59b (up 5.1% from FY 2019). Net income: CN¥835.8m (down 14% from FY 2019). Profit margin: 15% (down from 18% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Mar 12
3SBio Inc. to Report Fiscal Year 2020 Results on Mar 30, 2021 3SBio Inc. announced that they will report fiscal year 2020 results on Mar 30, 2021 Announcement • Feb 24
3Sbio Inc. Announces Completion the Enrolment of Subjects for Phase Ii Clinical Study 3SBio Inc. announced that in respect of the "study of using intravenous injection of recombinant erythropoietin stimulating protein injection (CHO cell) to maintain the treatment of patients that suffer from chronic kidney disease and anemia after hemodialysis (multi-centered, randomized, open, positive drug parallel-controlled phase II clinical study)" of the Company's self-developed recombinant and long-acting erythropoietin stimulating protein (rESP) injection (research code: SSS06) has recently completed the required enrolment of subjects. Is New 90 Day High Low • Feb 21
New 90-day high: €0.92 The company is up 14% from its price of €0.80 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.68 per share. Announcement • Feb 06
3SBio Inc. Provides Update on License Agreement with AstraZeneca and Hongkong Sansheng 3SBio Inc. (the Company, together with its subsidiaries, the Group) updated its shareholders that due to streamlining of the relevant Licensed Products, with effect from 25 January 2021, all the arrangements in relation to Bydureon License Products have been terminated and Hongkong Sansheng is therefore relieved from any further and future obligations in respect of the Bydureon Licensed Products. Hongkong Sansheng and AstraZeneca will continue to cooperate for the Commercialization of the Byetta Licensed Product under the Exclusive License Agreement, and the Group will continue to explore other collaboration and business opportunities with AstraZeneca. The Board considers that the cessation of the arrangements in relation to the Commercialization of the Bydureon Licensed Products has no material impact on the operation and financial position of the Group as the financial contributions by the Bydureon Licensed Products to the Group have been nominal. The Group will continue to explore other collaboration and business opportunities with reputable pharmaceutical companies and distributors like AstraZeneca and other major industry players. Is New 90 Day High Low • Feb 04
New 90-day high: €0.89 The company is up 15% from its price of €0.78 on 06 November 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Biotechs industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.35 per share. Is New 90 Day High Low • Dec 10
New 90-day low: €0.72 The company is down 20% from its price of €0.91 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.03 per share. Announcement • Nov 25
3Sbio Inc. Receives Milestone Payment of USD 4 Million Upon Commencement of Phase III Clinical Program of SEL-212 3SBio Inc. informed the shareholders of the Company of the attached press release that Selecta Biosciences Inc., the Company's partner, has commenced the phase III clinical program of the combination therapy SEL- 212 for treatment of chronic refractory gout on behalf of SobiTM, and has made a milestone payment of USD 4 million to the Company. This is a voluntary announcement made by the Company. The Group cannot guarantee that SEL-212 will be successfully developed or eventually launched and marketed. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company. Is New 90 Day High Low • Nov 08
New 90-day low: €0.78 The company is down 18% from its price of €0.95 on 10 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.03 per share. Is New 90 Day High Low • Oct 19
New 90-day low: €0.82 The company is down 36% from its price of €1.28 on 21 July 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.04 per share. Reported Earnings • Oct 02
First half earnings released Over the last 12 months the company has reported total profits of CN¥1.35b, up 25% from the prior year. Total revenue was CN¥5.37b over the last 12 months, up 6.3% from the prior year. Announcement • Sep 22
3SBio Inc. to Report First Half, 2020 Results on Aug 17, 2020 3SBio Inc. announced that they will report first half, 2020 results on Aug 17, 2020