Joincare Pharmaceutical Group (600380) Fair Value & Analysis

Healthcare · CN · Market cap 18.6B CNY

A solid business, screening 57% undervalued on our models.

What matters now

• The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict.
• The price is below even our cautious bear case (¥12.05). The market is more pessimistic than our downside scenario.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 8, 2026.

How to read this chart

60‑month range ¥9.29 – ¥16.10 · fair‑value band ¥12.05 – ¥20.08 · the ¥10.26 price screens below the ¥16.06 fair value. Dashed = 300-day average. As of Aug 8, 2026.

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Analysis

Joincare Pharmaceutical Group (600380) currently trades at ¥10.26, while our model-based Fair Value estimate is ¥16.06, implying the stock looks roughly 56.5% undervalued today. The Quality Score stands at 74/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Joincare Pharmaceutical Group generated revenue of 14.8B CNY at a net margin of 8.9%. Revenue declined 9.0% year over year. It earns a return on equity of 11.5%. The balance sheet holds a net cash position of 10.0B CNY. Fundamentals as of Aug 8, 2026

Our scenario range runs from ¥12.05 (bear case) to ¥20.08 (bull case); at ¥10.26, the current price sits below 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 28% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 57%, 600380 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 (¥35.15) versus Asset-Based (¥5.56). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Joincare Pharmaceutical Group Industry Co.,Ltd. engages in the research, development, production, and sale of pharmaceuticals and health care products in China and internationally.

Full company description

Joincare Pharmaceutical Group Industry Co.,Ltd. engages in the research, development, production, and sale of pharmaceuticals and health care products in China and internationally. The company offers chemical pharmaceuticals for respiratory, gastroenterology, assisted reproduction, psychiatry, and anti-infection; chemical APIs and intermediates for drugs for humans and veterinary drugs; and traditional Chinese medicine, including cold medicine anti-viral granules and anti-tumor medicine. It also provides diagnostic reagents and equipment, such as mycoplasma pneumoniae IgM antibody test and antinuclear antibody test kit; OTC products which includes Taitai and Jingxin oral liquid, Eagle's American ginseng tea, and YikeTie; and biologics comprising tocilizumab and mouse nerve growth factor injection. The company was founded in 1992 and is headquartered in Shenzhen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Joincare Pharmaceutical Group reported revenue of ¥15.2B in FY2025 versus ¥15.9B in FY2021, a compound −1.1%/yr. Reported net income was ¥1.3B in FY2025, compounding +0.1%/yr from FY2021.

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Peer Group

Drug Manufacturers - Specialty & Generic · 626 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.

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.