Recent Insider Transactions • Jun 10
Co-Founder recently bought HK$7.9m worth of stock On the 8th of June, Jing Lou bought around 516k shares on-market at roughly HK$15.25 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 05
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$15.68, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 1x in the Biotechs industry in Hong Kong. Total returns to shareholders of 118% over the past three years. Declared Dividend • May 20
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 1.3%, which is lower than the industry average of 2.3%. Payout Ratios Payout ratio: 6%. Cash payout ratio: 6%. 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 25
3SBio Inc., Annual General Meeting, Jun 25, 2025 3SBio Inc., Annual General Meeting, Jun 25, 2025. 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 28% growth forecast for the Biotechs industry in Hong Kong. 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. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to HK$6.87, the stock trades at a forward P/E ratio of 7x. Average trailing P/E is 12x in the Biotechs industry in Hong Kong. Total returns to shareholders of 1.4% over the past three years. Recent Insider Transactions • Aug 28
Co-Founder recently bought HK$1.5m worth of stock On the 23rd of August, Jing Lou bought around 260k shares on-market at roughly HK$5.78 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. Reported Earnings • Aug 25
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 24% growth forecast for the Biotechs industry in Hong Kong. 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 11% 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: 3.8%. Lower than top quartile of Hong Kong dividend payers (7.9%). Higher than average of industry peers (1.1%). 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. 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 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 • Sep 30
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 33% growth forecast for the Biotechs industry in Hong Kong. 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 9% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 25
First half 2023 earnings released: EPS: CN¥0.40 (vs CN¥0.39 in 1H 2022) First half 2023 results: EPS: CN¥0.40 (up from CN¥0.39 in 1H 2022). Revenue: CN¥3.78b (up 22% from 1H 2022). Net income: CN¥980.6m (up 2.7% 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 5.7% p.a. on average during the next 3 years, compared to a 35% growth forecast for the Biotechs industry in Hong Kong. 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 11% per year, which means it is significantly lagging earnings. 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 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 Hong Kong dividend payers (7.7%). Higher than average of industry peers (1.1%). 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 36% growth forecast for the Biotechs industry in Hong Kong. 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 1% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 30
Now 22% undervalued Over the last 90 days, the stock is up 51%. The fair value is estimated to be HK$11.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.5% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings is also forecast to grow by 1.6% per annum over the same time period. 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. Valuation Update With 7 Day Price Move • Nov 26
Investor sentiment improved over the past week After last week's 17% share price gain to HK$8.08, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 27x in the Biotechs industry in Asia. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.83 per share. 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. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 16% share price gain to HK$6.48, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 24x in the Biotechs industry in Asia. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.59 per share. 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 42% growth forecast for the Biotechs industry in Hong Kong. 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 25% 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 15,687% growth forecast for the Biotechs industry in Hong Kong. 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 25% per year, which means it is significantly lagging earnings. 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: 3.0%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (0.9%). Reported Earnings • May 02
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 6,587% growth forecast for the pharmaceuticals industry in Hong Kong. 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. 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. Reported Earnings • Mar 31
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 7.7%, compared to a 310% growth forecast for the pharmaceuticals industry in Hong Kong. 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. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improved over the past week After last week's 16% share price gain to HK$5.95, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 29x in the Biotechs industry in Asia. Total loss to shareholders of 59% over the past three years. 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 15% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 17% share price gain to HK$8.67, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 33x in the Biotechs industry in Asia. Total loss to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.26 per share. Reported Earnings • Aug 28
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 18% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment deteriorated over the past week After last week's 22% share price decline to CN¥6.30, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 38x in the Biotechs industry in Asia. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$10.95 per share. 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 29
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥9.79, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 39x in the Biotechs industry in Asia. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$11.60 per share. Reported Earnings • May 02
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 26% 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 28% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 18
New 90-day high: HK$8.42 The company is up 11% from its price of HK$7.58 on 20 November 2020. The Hong Kong market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 66% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$14.91 per share. Is New 90 Day High Low • Jan 25
New 90-day high: HK$7.81 The company is up 4.0% from its price of HK$7.49 on 28 October 2020. The Hong Kong market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$11.74 per share. Is New 90 Day High Low • Dec 09
New 90-day low: HK$7.06 The company is down 17% from its price of HK$8.47 on 11 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$9.51 per share. Is New 90 Day High Low • Nov 19
New 90-day low: HK$7.19 The company is down 24% from its price of HK$9.42 on 21 August 2020. The Hong Kong market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is down 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$9.16 per share. Is New 90 Day High Low • Oct 14
New 90-day low: HK$8.13 The company is down 30% from its price of HK$11.62 on 16 July 2020. The Hong Kong 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 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$9.32 per share. Reported Earnings • Oct 01
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. Is New 90 Day High Low • Sep 25
New 90-day low: HK$8.22 The company is down 17% from its price of HK$9.88 on 26 June 2020. The Hong Kong 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 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$9.15 per share. 
