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Sichuan Kelun-Biotech (6990) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Sichuan Kelun-Biotech stock HK$279, price HK$464, that is 39.7% below the price, quality 39 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare HK · Based in China

SK Sichuan Kelun-Biotech logo Thin data Nov 10, 2026

Sichuan Kelun-Biotech

6990 · HK
Very expensive, weak quality

Our calculation puts a fair price 40% below what the stock costs today.

Revenue last quarter +101% vs. a year ago.
Expensive Growth (revenue 3y +36.8 %/yr in CNY)
Neutral coverage
Fair value HK$279.44 · Strongly overvalued
Quality 39/100
Loss-making · -18.6% net margin (TTM)
Negative free cash flow
Trails peers (3/9)
Narrow moat 10/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

HK$577.50 HK$62.50 Fair Value HK$279.44 Jul 2023 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

40‑month range HK$62.50 – HK$577.50 · fair‑value band HK$209.58 – HK$349.30 · the HK$463.80 price screens above the HK$279.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd., a biopharmaceutical company, engages in the research and development, manufacturing, and commercialization of novel drugs in oncology, immunology, metabolism, and other therapeutic areas in the People's Republic of China and internationally.

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The company's product pipeline includes Sac-TMT, a novel TROP2 ADC positioned as a monotherapy and part of combination therapies for treating various advanced solid tumors; Trastuzumab botidotin, a monotherapy to treat advanced HER2+ solid tumors; SKB315, a novel CLDN18.2 ADC targeting advanced solid tumors; SKB410/MK-3120, a novel Nectin-4 ADC targeting advanced solid tumors; and SKB571/MK-2750, a novel bsADC primarily targeting various solid tumors, such as LC and CRC. The company also develops SKB518, SKB535/MK-6204 and SKB445, which are novel ADC drugs with potential FIC targets; SKB500 and SKB501, which are novel ADC drugs with verified targets but differentiated payload-linker strategies; SKB107, an RDC targeting tumor bone metastases; Tagitanlimab, PD-L1 mAb for its immunotherapy franchise; Cetuximab N01, a recombinant EGFR human-mouse chimeric mAb; A400, a novel selective RET inhibitor; and A296, a novel small molecule STING agonist.

It has license and collaboration arrangements with Merck Sharp & Dohme LLC; Harbour BioMed Therapeutics Limited; Windward Bio AG; and Ellipses Pharma Limited.

The company has a strategic partnership with Crescent Biopharma, Inc. The company was incorporated in 2016 and is headquartered in Chengdu, the People's Republic of China. Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. is a subsidiary of Sichuan Kelun Pharmaceutical Co., Ltd.

Stock analysis

Sichuan Kelun-Biotech (6990) currently trades at HK$463.80, while our estimate is HK$279.44, 40% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: HK$209.58 (bear) to HK$349.30 (bull), the price of HK$463.80 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 39/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Sichuan Kelun-Biotech reported revenue of 2.1B CNY in FY2025 versus 5.0M CNY in FY2021, a compound +350.5%/yr. Reported net income was −382M CNY in FY2025.

Key figures

Market cap HK$107B (≈ $13.6B) Large · P/S ratio 53.0 · EPS (TTM) HK$−0.6400 · Net margin −18.6% · Return on equity −9.3% · Return on assets (EBIT) −29.1% (5-year average) · Operating margin −20.1% · Revenue (TTM) 2.1B CNY.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 15% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −40%, 6990 screens richer than that median.

Fair Value

Bear HK$209.58 Fair Value HK$279.44 Bull HK$349.30
Price HK$463.80 · Downside -39.7%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 39/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 12
How much profit the company makes from its sales and capital
Quality Growth 37
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 100
Debt, balance sheet and risk of trouble
Investment 39
Does it invest with discipline instead of growing at any price?
Low Volatility 59
How calm the share price moves, does not count
Price momentum 36
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 48
Distance to the 52-week high, does not count
New shares 50
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+6.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+36.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−2,512.4% (2021) → −22.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

6990 screens overvalued: fair value 40% below the price. Compare with Vertex Pharmaceuticals Incorporated →

Earlier news

News mood ⓘNews mood, the average tone of recent news (90 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 39 · Below median
Fair Value upside −39.7% · Below median
Profitability
Return on assets −6.4% · Above median
Net margin (12 months) −18.6% · Below median
Operating margin (12 months) −20.1% · Below median
Growth and dividend
Revenue growth (quarter YoY) 101.3% · Top 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 18.67× · Priciest 25%
P/S (12 months) 44.16× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 20

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $916.06 $1,275 +39% vs 6990
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs 6990
Vertex Pharmaceuticals Incorporated VRTX $547.89 $601.80 +10% vs 6990
Genmab A/S GMAB kr 3,581 kr 3,880 +8% vs 6990
argenx SE ARGX $971.55 $908.40 −7% vs 6990
CSL Limited CSL A$201.68 A$181.40 −10% vs 6990
Moderna, Inc MRNA $250.83 $158.70 −37% vs 6990
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs 6990
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs 6990
Royalty Pharma plc RPRX $69.45 $19.01 −73% vs 6990

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Sichuan Kelun-Biotech: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Sichuan Kelun-Biotech Fair Value". https://www.fairvalue-calculator.com/stock/6990

Frequently asked questions

Is Sichuan Kelun-Biotech (6990) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is HK$279.44 versus a price of HK$463.80, about 40% lower (overvalued).
What is the fair value of 6990?
Our estimate for Sichuan Kelun-Biotech is HK$279.44 (as of Nov 10, 2026), built from audited fundamentals. The current price: HK$463.80.
What is the quality score of 6990?
Sichuan Kelun-Biotech has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sichuan Kelun-Biotech (6990)?
Our calculated price target is the estimate of HK$279.44 (as of Nov 10, 2026). Cautious scenario HK$209.58, optimistic scenario HK$349.30. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Sichuan Kelun-Biotech stock forecast for 2026?
Our estimate puts fair value at HK$279.44, about 40% lower versus a price of HK$463.80 (overvalued). Cautious scenario HK$209.58, optimistic scenario HK$349.30. The calculation is refreshed regularly with new filings.
What is the revenue of Sichuan Kelun-Biotech (6990)?
Sichuan Kelun-Biotech reported trailing-twelve-month revenue of about 2.1B CNY (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Sichuan Kelun-Biotech (6990)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sichuan Kelun-Biotech it is HK$279.44 per share (as of Nov 10, 2026), against a price of HK$463.80.
Is Sichuan Kelun-Biotech stock overvalued or undervalued in 2026?
As of Nov 10, 2026, 6990 trades above its calculated fair value: price HK$463.80, fair value HK$279.44, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6990?
No. The price is what the market pays today (HK$463.80); the fair value is what the company's own numbers justify (HK$279.44). For Sichuan Kelun-Biotech the two are HK$184.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sichuan Kelun-Biotech worth?
The market values Sichuan Kelun-Biotech at about HK$107B (market capitalisation, as of Nov 10, 2026). Per share that is HK$463.80; our models calculate a fair value of HK$279.44 per share.
What do the bullish and bearish scenarios say about 6990?
Our models span a range for Sichuan Kelun-Biotech: cautious scenario HK$209.58, base HK$279.44, optimistic HK$349.30 per share (as of Nov 10, 2026, price HK$463.80). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Sichuan Kelun-Biotech (6990)?
Balance-sheet figures for Sichuan Kelun-Biotech (as of Nov 10, 2026): return on equity −9.3%. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is 6990 from its 52-week high?
Sichuan Kelun-Biotech trades at HK$463.80, about 15% below its 52-week high of HK$542.50 and 33% above the low of HK$348.00 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of HK$279.44 is for.
Which stocks are comparable to Sichuan Kelun-Biotech?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sichuan Kelun-Biotech stock attractive at the current price?
The data as of Nov 10, 2026: price HK$463.80, calculated fair value HK$279.44 (−40%), Quality Score 39/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Sichuan Kelun-Biotech itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sichuan Kelun-Biotech (6990)?
The closing price on Nov 10, 2026 was HK$463.80. Our estimate is HK$279.44, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sichuan Kelun-Biotech right now?
The price sits above even our optimistic bull case (HK$349.30). The favourable scenario is already priced in. Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Sichuan Kelun-Biotech

How large is the market capitalisation of Sichuan Kelun-Biotech (6990)?
The market capitalisation of Sichuan Kelun-Biotech is HK$107B (≈ $13.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sichuan Kelun-Biotech (6990)?
The price-to-sales ratio of Sichuan Kelun-Biotech is 53.0 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sichuan Kelun-Biotech (6990)?
Earnings per share at Sichuan Kelun-Biotech are HK$−0.6400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sichuan Kelun-Biotech (6990)?
The net margin of Sichuan Kelun-Biotech is −18.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Sichuan Kelun-Biotech (6990)?
The return on equity (ROE) of Sichuan Kelun-Biotech is −9.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sichuan Kelun-Biotech (6990)?
On an EBIT basis the return on assets of Sichuan Kelun-Biotech is −29.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sichuan Kelun-Biotech (6990)?
The operating margin of Sichuan Kelun-Biotech is −20.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sichuan Kelun-Biotech (6990)?
Revenue at Sichuan Kelun-Biotech is growing +101% versus a year earlier (3y avg +36.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Sichuan Kelun-Biotech (6990) generate?
The free cash flow of Sichuan Kelun-Biotech is −307M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Sichuan Kelun-Biotech (6990) hold?
Sichuan Kelun-Biotech holds more cash than debt, 3.2B CNY net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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