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Chongqing Zhifei Biological Products Co (300122) Fair Value & Analysis

Healthcare · CN · Market cap 29.9B CNY

CZ Chongqing Zhifei Biological Products Co 300122 · SHE
Price¥13.48
Fair Value¥7.52
Upside-44.2%
Quality50/100
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Weak Growth
Loss-making · -168.9% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/11)
Narrow moat 16/100
Evidence: Medium Range ¥4.15 – ¥10.89 Share as image

Fair value as of: Jul 24, 2026

From 9 valuation models · updated 17 days ago

Share price +16.1% over the past month.

A solid business, but screening 44% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥10.89). The favourable scenario is already priced in.
  • The model range is unusually wide (¥4.15 to ¥10.89). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥138.31 ¥11.38 Fair Value ¥7.52 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range ¥11.38 – ¥138.31 · fair‑value band ¥4.15 – ¥10.89 · the ¥13.48 price screens above the ¥7.52 fair value. Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

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Analysis

Chongqing Zhifei Biological Products Co (300122) currently trades at ¥13.48, while our model-based Fair Value estimate is ¥7.52, implying the stock looks roughly 44.2% overvalued today. The Quality Score stands at 50/100 (solid 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: medium).

Trailing-twelve-month revenue stands at 8.8B CNY. Revenue declined 8.6% year over year. It earns a return on equity of -64.1%. Net debt stands at 8.9B CNY. Fundamentals as of Jul 24, 2026

Our scenario range runs from ¥4.15 (bear case) to ¥10.89 (bull case); at ¥13.48, 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 48% below its 52-week high and 15% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -44%, 300122 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥29.96 ¥55.83 ¥108.12 80
Rev-Margin DCF ¥15.29 ¥26.44 ¥47.04 74
Gordon GGM ¥1.32 ¥2.75 ¥4.36 70
All 9 models by family
DCF Models
FCF DCF ¥31.86 ¥50.20 ¥108.60 38
5Y Revenue Exit ¥14.99 ¥23.05 ¥39.68 39
10Y Revenue Exit ¥19.80 ¥36.68 ¥45.24 36
Dividend Discount
Gordon GGM ¥1.32 ¥2.75 ¥4.36 70
DDM Multi-Stage ¥1.32 ¥2.32 ¥2.89 61
Multiples
EV/Revenue ¥7.74 ¥11.11 ¥14.48 43
Asset-Based
NCAV (Graham) ¥3.31 ¥4.43 ¥6.62 50
Growth DCF
Growth DCF ¥29.96 ¥55.83 ¥108.12 80
Rev-Margin DCF ¥15.29 ¥26.44 ¥47.04 74

Widest divergence: DCF Models (¥36.68) versus Dividend Discount (¥2.32). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 8.8B CNY
Revenue growth (YoY) -8.6%
Net margin -169%
Return on equity -64.1%
Free cash flow 4.5B CNY FY2025
Operating margin -15.6%
More key figures
EPS (TTM) ¥-6.18
EPS growth (YoY) -65.1%
Net debt 8.9B CNY FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 52 · Market factors (momentum, volatility) 27

Profitability 3
Margins and returns on capital today
Quality Growth 0
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Chongqing Zhifei Biological Products Co., Ltd., a biopharmaceutical company, engages in the research and development, production, sale, and distribution of vaccine and biological products in China.

Full company description

Chongqing Zhifei Biological Products Co., Ltd., a biopharmaceutical company, engages in the research and development, production, sale, and distribution of vaccine and biological products in China. The company offers recombinant COVID-19 vaccine; recombinant mycobacterium tuberculosis fusion protein products; group A and C meningococcal polysaccharide vaccine; ACYW135 meningococcal polysaccharide vaccine; Haemophilus Influenza type B conjugate vaccine; mycobacterium injection under the Vaccae brand; and meningococcal group A and C conjugate vaccine. It also provides cold storage, refrigerated vehicles, and cold roll boxes; and customs clearance and registration of imported vaccines. The company was founded in 2002 and is based in Chongqing, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Chongqing Zhifei Biological Products Co reported revenue of ¥9.0B in FY2025 versus ¥30.7B in FY2021, a compound −26.5%/yr. Reported net income was −¥14.7B in FY2025.

Growth Quality 23/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
9.0B CNY
Latest YoY
−65.6%
Avg. growth/yr (3Y)
−38.4%
Avg. growth/yr (5Y)
−10.0%
Avg. growth/yr (18Y)
+17.5%
Revenue −26.5%/yr
FY21 ¥30.7B
FY22 ¥38.3B
FY23 ¥52.9B
FY24 ¥26.1B
FY25 ¥9.0B
Net income
FY21 ¥10.2B
FY22 ¥7.5B
FY23 ¥8.1B
FY24 ¥2.0B
FY25 −¥14.7B

300122 screens 44% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Chongqing Zhifei Biological Products Co Fair Value". https://www.fairvalue-calculator.com/stock/300122

Peer Group

Biotechnology · 603 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.

Quality Score 50 · Above median
Fair Value upside −44% · Above median
Return on assets -28% · Bottom 25%
Net margin (TTM) -169% · Bottom 25%
Operating margin (TTM) -16% · Bottom 25%
Revenue growth -9% · Below median
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/B 0.28× · Cheaper than 75% of peers
P/S (TTM) 0.51× · Cheaper than 75% of peers
P/FCF 1.0× · Cheaper than 75% of peers

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 · sector 0
FUTURE 0 · sector 0
PAST 0 · sector 0
HEALTH 91 · sector 97
DIVIDEND 0 · sector 23

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.

None of the checked exposures detected

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is Chongqing Zhifei Biological Products Co (300122) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of ¥7.52 versus a price of ¥13.48, about −44% (overvalued).
What is the fair value of 300122?
Our model-based fair value for Chongqing Zhifei Biological Products Co is ¥7.52 (as of Jul 24, 2026), built from audited fundamentals. The current price is ¥13.48.
What is the quality score of 300122?
Chongqing Zhifei Biological Products Co has a Quality Score of 50/100. 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 revenue of Chongqing Zhifei Biological Products Co (300122)?
Chongqing Zhifei Biological Products Co reported trailing-twelve-month revenue of about 8.8B CNY (latest available figure, as of Jul 24, 2026).
What is the net profit margin of 300122?
The net profit margin of Chongqing Zhifei Biological Products Co is about -168.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

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.

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