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1093

CSPC Pharmaceutical Group SEHK:1093 Stock Report

Last Price

HK$7.55

Market Cap

HK$90.0b

7D

6.2%

1Y

-19.2%

Updated

29 Sep, 2022

Data

Company Financials +
1093 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance2/6
Financial Health6/6
Dividends3/6

1093 Stock Overview

CSPC Pharmaceutical Group Limited, an investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical products in the People’s Republic of China, other Asian regions, the Americas, Europe, and internationally.

CSPC Pharmaceutical Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for CSPC Pharmaceutical Group
Historical stock prices
Current Share PriceHK$7.55
52 Week HighHK$10.10
52 Week LowHK$6.95
Beta0.70
1 Month Change-2.71%
3 Month Change-3.08%
1 Year Change-19.17%
3 Year Change-10.30%
5 Year Change8.50%
Change since IPO1,689.63%

Recent News & Updates

Sep 15
CSPC Pharmaceutical Group (HKG:1093) Could Easily Take On More Debt

CSPC Pharmaceutical Group (HKG:1093) Could Easily Take On More Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Aug 26
CSPC Pharmaceutical Group (HKG:1093) Will Pay A Larger Dividend Than Last Year At CN¥0.10

CSPC Pharmaceutical Group (HKG:1093) Will Pay A Larger Dividend Than Last Year At CN¥0.10

CSPC Pharmaceutical Group Limited's ( HKG:1093 ) dividend will be increasing from last year's payment of the same...

Shareholder Returns

1093HK PharmaceuticalsHK Market
7D6.2%-1.0%-5.7%
1Y-19.2%-38.0%-29.1%

Return vs Industry: 1093 exceeded the Hong Kong Pharmaceuticals industry which returned -36.6% over the past year.

Return vs Market: 1093 exceeded the Hong Kong Market which returned -28% over the past year.

Price Volatility

Is 1093's price volatile compared to industry and market?
1093 volatility
1093 Average Weekly Movement5.5%
Pharmaceuticals Industry Average Movement5.9%
Market Average Movement6.4%
10% most volatile stocks in HK Market12.5%
10% least volatile stocks in HK Market3.1%

Stable Share Price: 1093 is not significantly more volatile than the rest of Hong Kong stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 1093's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199225,147Cuilong Zhanghttps://www.cspc.com.hk

CSPC Pharmaceutical Group Limited, an investment holding company, engages in the research and development, manufacture, and sale of pharmaceutical products in the People’s Republic of China, other Asian regions, the Americas, Europe, and internationally. The company operates through Finished Drugs, Bulk Products, and Functional Food and Others segments. It provides NBP soft capsules and injections for acute ischemic stroke; Oulaining capsules and injections to treat mild to moderate memory and mental impairment; Enxi to treat adult idiopathic Parkinson’s disease; Duomeisu for lymphoma, multiple myeloma, ovarian and breast cancers, and other malignant tumors; Jinyouli to prevent leucopenia and infection induced by chemotherapy; and Keaili for breast cancer.

CSPC Pharmaceutical Group Fundamentals Summary

How do CSPC Pharmaceutical Group's earnings and revenue compare to its market cap?
1093 fundamental statistics
Market CapHK$89.96b
Earnings (TTM)HK$6.01b
Revenue (TTM)HK$32.33b

15.0x

P/E Ratio

2.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
1093 income statement (TTM)
RevenueCN¥29.65b
Cost of RevenueCN¥7.71b
Gross ProfitCN¥21.95b
Other ExpensesCN¥16.44b
EarningsCN¥5.51b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.46
Gross Margin74.02%
Net Profit Margin18.58%
Debt/Equity Ratio1.3%

How did 1093 perform over the long term?

See historical performance and comparison

Dividends

2.5%

Current Dividend Yield

36%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 1093 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 1093?

Other financial metrics that can be useful for relative valuation.

1093 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/Revenue2.4x
Enterprise Value/EBITDA9.4x
PEG Ratio1.3x

Price to Earnings Ratio vs Peers

How does 1093's PE Ratio compare to its peers?

1093 PE Ratio vs Peers
The above table shows the PE ratio for 1093 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average11.7x
3692 Hansoh Pharmaceutical Group
25x18.3%HK$74.3b
1177 Sino Biopharmaceutical
7.6x0.9%HK$67.1b
874 Guangzhou Baiyunshan Pharmaceutical Holdings
6.6x0.9%HK$43.0b
3320 China Resources Pharmaceutical Group
7.7x-3.0%HK$33.5b
1093 CSPC Pharmaceutical Group
15x11.6%HK$90.0b

Price-To-Earnings vs Peers: 1093 is expensive based on its Price-To-Earnings Ratio (15x) compared to the peer average (11.7x).


Price to Earnings Ratio vs Industry

How does 1093's PE Ratio compare vs other companies in the HK Pharmaceuticals Industry?

Price-To-Earnings vs Industry: 1093 is expensive based on its Price-To-Earnings Ratio (15x) compared to the Hong Kong Pharmaceuticals industry average (8.8x)


Price to Earnings Ratio vs Fair Ratio

What is 1093'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.

1093 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio15.2x

Price-To-Earnings vs Fair Ratio: 1093 is good value based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).


Share Price vs Fair Value

What is the Fair Price of 1093 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 1093 (HK$7.55) is trading below our estimate of fair value (HK$17.65)

Significantly Below Fair Value: 1093 is trading below fair value by more than 20%.


Analyst Price Targets

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

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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Future Growth

How is CSPC Pharmaceutical Group forecast to perform in the next 1 to 3 years based on estimates from 26 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 1093's forecast earnings growth (11.6% per year) is above the savings rate (1.6%).

Earnings vs Market: 1093's earnings (11.6% per year) are forecast to grow slower than the Hong Kong market (17.1% per year).

High Growth Earnings: 1093's earnings are forecast to grow, but not significantly.

Revenue vs Market: 1093's revenue (11.3% per year) is forecast to grow faster than the Hong Kong market (9.8% per year).

High Growth Revenue: 1093's revenue (11.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 1093's Return on Equity is forecast to be low in 3 years time (17.8%).


Discover growth companies

Past Performance

How has CSPC Pharmaceutical Group performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


21.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 1093 has high quality earnings.

Growing Profit Margin: 1093's current net profit margins (18.6%) are lower than last year (22.6%).


Past Earnings Growth Analysis

Earnings Trend: 1093's earnings have grown significantly by 21% per year over the past 5 years.

Accelerating Growth: 1093's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 1093 had negative earnings growth (-6.8%) over the past year, making it difficult to compare to the Pharmaceuticals industry average (3.7%).


Return on Equity

High ROE: 1093's Return on Equity (19.1%) is considered low.


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Financial Health

How is CSPC Pharmaceutical Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 1093's short term assets (CN¥22.8B) exceed its short term liabilities (CN¥8.5B).

Long Term Liabilities: 1093's short term assets (CN¥22.8B) exceed its long term liabilities (CN¥964.1M).


Debt to Equity History and Analysis

Debt Level: 1093 has more cash than its total debt.

Reducing Debt: 1093's debt to equity ratio has reduced from 9.7% to 1.3% over the past 5 years.

Debt Coverage: 1093's debt is well covered by operating cash flow (1551.9%).

Interest Coverage: 1093 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is CSPC Pharmaceutical Group current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.52%

Current Dividend Yield

Dividend Yield vs Market

CSPC Pharmaceutical Group Dividend Yield vs Market
How does CSPC Pharmaceutical Group dividend yield compare to the market?
SegmentDividend Yield
Company (CSPC Pharmaceutical Group)2.5%
Market Bottom 25% (HK)3.0%
Market Top 25% (HK)8.9%
Industry Average (Pharmaceuticals)2.9%
Analyst forecast in 3 Years (CSPC Pharmaceutical Group)2.4%

Notable Dividend: 1093's dividend (2.52%) isn’t notable compared to the bottom 25% of dividend payers in the Hong Kong market (2.98%).

High Dividend: 1093's dividend (2.52%) is low compared to the top 25% of dividend payers in the Hong Kong market (8.85%).


Stability and Growth of Payments

Stable Dividend: 1093's dividend payments have been volatile in the past 10 years.

Growing Dividend: 1093's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (36%), 1093's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (50.8%), 1093's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

Cuilong Zhang (53 yo)

4.17yrs

Tenure

CN¥9,108,000

Compensation

Mr. Cuilong Zhang has been the Vice Chairman of CSPC Pharmaceutical Group Ltd since May 21, 2019 and serves as its Chief Executive Officer since May 27, 2022. He was Rotating Chief Executive Officer of CSP...


CEO Compensation Analysis

Cuilong Zhang's Compensation vs CSPC Pharmaceutical Group Earnings
How has Cuilong Zhang's remuneration changed compared to CSPC Pharmaceutical Group's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

CN¥6b

Mar 31 2022n/an/a

CN¥6b

Dec 31 2021CN¥9mCN¥693k

CN¥6b

Sep 30 2021n/an/a

CN¥6b

Jun 30 2021n/an/a

CN¥6b

Mar 31 2021n/an/a

CN¥5b

Dec 31 2020CN¥9mCN¥693k

CN¥5b

Sep 30 2020n/an/a

CN¥4b

Jun 30 2020n/an/a

CN¥4b

Mar 31 2020n/an/a

CN¥4b

Dec 31 2019CN¥7mCN¥693k

CN¥4b

Sep 30 2019n/an/a

CN¥4b

Jun 30 2019n/an/a

CN¥3b

Mar 31 2019n/an/a

CN¥3b

Dec 31 2018CN¥4mCN¥298k

CN¥3b

Compensation vs Market: Cuilong's total compensation ($USD1.26M) is above average for companies of similar size in the Hong Kong market ($USD926.98K).

Compensation vs Earnings: Cuilong's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 1093's management team is considered experienced (3 years average tenure).


Board Members

Experienced Board: 1093's board of directors are considered experienced (8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SEHK:1093 Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
01 Apr 22BuyHK$1,999,863Kin Man ChakIndividual3,840,000HK$0.52
01 Apr 22BuyHK$8,850,002Qingxi WangIndividual3,000,000HK$2.95
26 Nov 21BuyHK$16,510,004Dongchen CaiIndividual2,000,000HK$8.26
24 Nov 21BuyHK$8,009,998Dongchen CaiIndividual1,000,000HK$8.01
23 Nov 21BuyHK$48,319,194Dongchen CaiIndividual6,000,000HK$8.05

Ownership Breakdown

What is the ownership structure of 1093?
Owner TypeNumber of SharesOwnership Percentage
Private Companies755,676,3136.3%
Individual Insiders2,801,969,35023.5%
Institutions4,016,858,76833.7%
General Public4,341,015,30136.4%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 58.16% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
23.46%
Dongchen Cai
2,795,121,670CN¥21.1b0%no data
7.1%
UBS Asset Management
846,205,884CN¥6.4b-4.23%0.16%
6.12%
Common Success International Limited
728,796,313CN¥5.5b0%no data
4.87%
BlackRock, Inc.
579,695,709CN¥4.4b-6.32%0.01%
2.95%
The Vanguard Group, Inc.
351,001,138CN¥2.7b1.41%0.01%
2.58%
Harding Loevner LP
307,568,600CN¥2.3b-11.31%0.87%
2.15%
First Sentier Investors (Australia) IM Ltd
256,189,034CN¥1.9b0%0.55%
1.22%
Norges Bank Investment Management
145,205,037CN¥1.1b0%0.02%
0.98%
State Street Global Advisors, Inc.
116,341,210CN¥878.4m7.93%0.01%
0.96%
Matthews International Capital Management, LLC
114,596,960CN¥865.2m-0.73%0.7%
0.79%
Caisse de dépôt et placement du Québec
94,612,120CN¥714.3m0%0.12%
0.79%
Bosera Asset Management Co., Ltd.
93,924,000CN¥709.1m169.63%0.54%
0.71%
Dimensional Fund Advisors LP
85,035,282CN¥642.0m2.25%0.02%
0.52%
Hang Seng Investment Management Limited
62,462,791CN¥471.6m2.87%0.73%
0.41%
Wellington Management Group LLP
49,364,807CN¥372.7m-0.56%0.01%
0.32%
Amundi Asset Management
38,401,521CN¥289.9m187.86%0.01%
0.32%
RBC Global Asset Management Inc.
37,541,853CN¥283.4m-0.21%0.03%
0.28%
Geode Capital Management, LLC
33,732,186CN¥254.7m3.44%no data
0.28%
Bellevue Asset Management AG
33,166,640CN¥250.4m0%0.35%
0.26%
Goldman Sachs Asset Management, L.P.
30,627,695CN¥231.2m-0.31%0.01%
0.24%
China Asset Management Co., Ltd.
28,116,564CN¥212.3m-2.69%0.06%
0.23%
Massive Top Limited
26,880,000CN¥202.9m0%no data
0.22%
Northern Trust Global Investments
26,643,447CN¥201.2m2.41%0.01%
0.2%
Neuberger Berman Investment Advisers LLC
24,240,000CN¥183.0m-1.3%0.02%
0.2%
UBS SDIC Fund Management Co. Ltd.
24,064,640CN¥181.7m0%0.48%

Company Information

CSPC Pharmaceutical Group Limited's employee growth, exchange listings and data sources


Key Information

  • Name: CSPC Pharmaceutical Group Limited
  • Ticker: 1093
  • Exchange: SEHK
  • Founded: 1992
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: HK$89.962b
  • Shares outstanding: 11.92b
  • Website: https://www.cspc.com.hk

Number of Employees


Location

  • CSPC Pharmaceutical Group Limited
  • No. 226 Huanghe Street
  • Shijiazhuang
  • Hebei Province
  • 50035
  • China


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CHJT.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 1994
1093SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDJun 1994
CVGDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 1994
1093SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJun 1994
1093SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDJun 1994
1093 NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJun 1994
CSPC.YOTCPK (Pink Sheets LLC)UNSPON ADS EACH REP 4 ORD SHSUSUSDMay 2018
CVGUDB (Deutsche Boerse AG)UNSPON ADS EACH REP 4 ORD SHSDEEURMay 2018

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/29 00:00
End of Day Share Price2022/09/29 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.