Winner Medical Co (300888) Fair Value & Analysis

Healthcare · CN · Market cap 16.1B CNY

A solid business, currently priced close to our fair value.

What matters now

• The price sits close to our fair value, market and models broadly agree here, little valuation tension.
• Our model range runs from ¥21.76 (bear) to ¥36.27 (bull), base ¥29.01. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 72/100 (solid quality) with medium evidence: read the verdict with care.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 9, 2026.

How to read this chart

60‑month range ¥22.53 – ¥130.91 · fair‑value band ¥21.76 – ¥36.27 · the ¥29.59 price screens above the ¥29.01 fair value. Dashed = 300-day average. As of Jul 9, 2026.

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Analysis

Winner Medical Co (300888) currently trades at ¥29.59, while our model-based Fair Value estimate is ¥29.01, implying the stock looks roughly 2.0% fairly valued today. The Quality Score stands at 72/100 (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).

Over the trailing twelve months, Winner Medical Co generated revenue of 11.0B CNY at a net margin of 7.0%. Revenue grew 2.8% year over year. It earns a return on equity of 6.7%. Net debt stands at 293M CNY. Fundamentals as of Jul 9, 2026

Our scenario range runs from ¥21.76 (bear case) to ¥36.27 (bull case); at ¥29.59, the current price sits within 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 31% below its 52-week high and 9% 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 -2%, 300888 screens cheaper 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: DCF Models (¥49.48) versus Asset-Based (¥13.25). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Winner Medical Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of disposable medical products in China and internationally. It operates in two segments, Medical Consumables and Consumer Products.

Full company description

Winner Medical Co., Ltd., together with its subsidiaries, engages in the research, development, production, and sale of disposable medical products in China and internationally. It operates in two segments, Medical Consumables and Consumer Products. The company offers wound care solutions, including gauzes, bandages, adhesive and film dressings, cotton and non-woven products, basic kits, liquid skin protectants, debridement and exudate management products, anti-adhesion wound care, scar repair products, antimicrobial solutions, and biological active and compression treatment products; and operating room solutions, such as masks, gloves, protective apparel, surgical gowns and drapes, speciality drapes and packs, operating room solution accessories, general surgical kits and trays, and surgical consumables for pets. It also provides home care solutions comprising wound care products, which includes adhesive and silicone bandages, as well as first aid kits; and personal care products, such as incontinence, cosmetics, other cotton products, and foot, daily, sports, ear, nose, and throat care products, as well as hygiene products comprising panty liners, sanitary napkins, tampons, breast and maternity pads, disposable underwear, and baby diapers. In addition, the company is involved in technology promotion services; engineering and technology research and experimental development; manufacturing of medical instruments, equipment, and devices; software and information technology services; production of rubber and chemical products; and trading and consulting services. It sells its products under the Winner Medical, Purcotton, and PureH2B brands through sales teams, hospitals, e-commerce, and pharmacy and chain stores. The company serves the hospital, pharmacy, PPE, consumer, and industrial field industries. It exports its products. The company was founded in 1991 and is headquartered in Shenzhen, China. Winner Medical Co., Ltd. is a subsidiary of Winner Group Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Winner Medical Co reported revenue of ¥10.9B in FY2025 versus ¥8.0B in FY2021, a compound +8.0%/yr. Reported net income was ¥768M in FY2025, compounding −11.3%/yr from FY2021.

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Peer Group

Medical Instruments & Supplies · 203 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 Medical Instruments & Supplies 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.

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.