Harbin Medisan Pharmaceutical Co (002900) Fair Value & Analysis

Healthcare · CN · Market cap 3.9B CNY

Below-average quality, and screening another 77% overvalued on our models.

What matters now

• The price sits above even our optimistic bull case (¥3.92). The favourable scenario is already priced in.
• Weak quality (30/100) 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.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range ¥7.12 – ¥32.17 · fair‑value band ¥3.17 – ¥3.92 · the ¥14.83 price screens above the ¥3.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 7, 2026.

Full chart & analysis →

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Analysis

Harbin Medisan Pharmaceutical Co (002900) currently trades at ¥14.83, while our model-based Fair Value estimate is ¥3.47, implying the stock looks roughly 76.6% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Harbin Medisan Pharmaceutical Co generated revenue of 813M CNY at a net margin of -39.1%. Revenue grew 11.6% year over year. It earns a return on equity of -16.4%. Net debt stands at 584M CNY. Fundamentals as of Aug 7, 2026

Our scenario range runs from ¥3.17 (bear case) to ¥3.92 (bull case); at ¥14.83, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -77%, 002900 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Asset-Based (¥3.75) versus Dividend Discount (¥3.34). Highest evidence: Gordon GGM (70).

Key figures & financial health

Quality Score breakdown

About the company

Harbin Medisan Pharmaceutical Co., Ltd. engages in the research, development, production, and sale chemical pharmaceutical preparations in China.

Full company description

Harbin Medisan Pharmaceutical Co., Ltd. engages in the research, development, production, and sale chemical pharmaceutical preparations in China. The company offers various drugs for nervous system, cardiovascular system, systemic anti-infective, muscle and skeletal system, nutritional infusion, and body fluid balance infusion; and other products, including oxaliplatin for injection, calcium folinate for injection, hydroxylcamptothecine injection, tropisetron hydrochloride for injection, tropisetron hydrochloride and glucose injection, gabexate mesylate for injection, bismuth potassium citrate granules, pantoprazole sodium for injection, ambroxol hydrochloride and glucose injection, asarone for injection, paracetamol and tramadol hydrochloride tablets, rifamycin sodium for injection, lornoxicam for injection, vecuronium bromide for injection, and vitamin c for injection. It also provides medical devices and cosmetics. Harbin Medisan Pharmaceutical Co., Ltd. was founded in 1996 and is headquartered in Harbin, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Harbin Medisan Pharmaceutical Co reported revenue of ¥789M in FY2025 versus ¥946M in FY2021, a compound −4.4%/yr. Reported net income was −¥340M in FY2025.

002900 screens 77% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

Peer Group

Drug Manufacturers - Specialty & Generic · 622 stocks

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.

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

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

Values & ESG

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.