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Shanghai Shenqi Pharmaceutical Investment Management Co (600613) Fair Value & Analysis

Healthcare · CN · Market cap 2.7B CNY

SS Shanghai Shenqi Pharmaceutical Investment Management Co 600613 · SHG
Price¥5.19
Fair Value¥2.71
Upside-47.8%
Quality63/100
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Mixed Growth
Thin margins · 1.9% net margin
Low debt · generates free cash flow
1.40% dividend yield
Trails peers (5/14)
Narrow moat 22/100
Evidence: High Range ¥1.32 – ¥2.71 Share as image

Fair value as of: Aug 9, 2026

From 26 valuation models · updated 2 days ago

Share price +9.7% over the past month.

A solid business, but screening 48% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.71). The favourable scenario is already priced in.
  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (¥1.32 to ¥2.71) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

¥13.78 ¥4.17 Fair Value ¥2.71 Mar 2021 Aug 2026

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

How to read this chart

60‑month range ¥4.17 – ¥13.78 · fair‑value band ¥1.32 – ¥2.71 · the ¥5.19 price screens above the ¥2.71 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shanghai Shenqi Pharmaceutical Investment Management Co (600613) currently trades at ¥5.19, while our model-based Fair Value estimate is ¥2.71, implying the stock looks roughly 47.8% overvalued today. The Quality Score stands at 63/100 (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: high).

Over the trailing twelve months, Shanghai Shenqi Pharmaceutical Investment Management Co generated revenue of 1.9B CNY at a net margin of 1.9%. Revenue declined 11.9% year over year. It earns a return on equity of 1.5%. The balance sheet holds a net cash position of 612M CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥1.32 (bear case) to ¥2.71 (bull case); at ¥5.19, 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 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 -25% fair-value upside, at -48%, 600613 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 Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ¥3.42 ¥5.19 ¥8.10 80
Residual Income ¥3.35 ¥3.19 ¥2.42 76
Rev-Margin DCF ¥3.25 ¥4.91 ¥7.12 74
All 26 models by family
DCF Models
FCF DCF ¥3.45 ¥5.45 ¥8.89 38
Owner Earnings ¥3.47 ¥5.48 ¥8.95 31
5Y Revenue Exit ¥3.25 ¥4.96 ¥7.32 39
5Y EBITDA Exit ¥4.54 ¥7.70 ¥11.75 41
5Y P/E Exit ¥2.66 ¥3.73 ¥4.95 38
10Y Revenue Exit ¥3.22 ¥4.87 ¥7.46 36
10Y EBITDA Exit ¥4.14 ¥6.86 ¥11.17 37
10Y P/E Exit ¥2.91 ¥3.98 ¥5.48 35
Earnings-Based
Graham-Dodd ¥0.5400 ¥2.71 ¥3.74 54
Lynch FV ¥0.7300 ¥1.05 ¥1.36 50
PEG = 1.0 ¥0.7300 ¥1.05 ¥1.36 46
EPV ¥2.75 ¥3.02 ¥3.25 59
Dividend Discount
Gordon GGM ¥1.62 ¥3.22 ¥4.88 70
DDM Multi-Stage ¥1.62 ¥2.78 ¥3.40 61
Multiples
P/E Multiple ¥1.32 ¥1.76 ¥2.19 63
P/S Multiple ¥1.02 ¥1.36 ¥1.70 58
P/B Multiple ¥1.02 ¥1.36 ¥1.70 55
EV/EBIT ¥4.00 ¥4.98 ¥5.97 53
EV/EBITDA ¥5.39 ¥6.83 ¥8.27 54
EV/Revenue ¥3.16 ¥4.06 ¥4.96 43
Asset-Based
NCAV (Graham) ¥2.42 ¥3.24 ¥4.84 50
Growth DCF
Growth DCF ¥3.42 ¥5.19 ¥8.10 80
Rev-Margin DCF ¥3.25 ¥4.91 ¥7.12 74
Economic Profit
Residual Income ¥3.35 ¥3.19 ¥2.42 76
ROIC Compounder ¥2.75 ¥3.02 ¥3.25 72
Growth Earnings
Growth-Adj P/E ¥1.15 ¥1.64 ¥2.13 68

Widest divergence: DCF Models (¥4.96) versus Earnings-Based (¥1.05). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.9B CNY
Revenue growth (YoY) -11.9%
Net margin 1.9%
Return on equity 1.5%
Free cash flow 91.3M CNY FY2025
P/E ratio 84.8
More key figures
Operating margin 5.2%
EPS (TTM) ¥0.0600
Dividend yield 1.4%
EPS growth (YoY) -33.3%
Net cash 612M CNY FY2024

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 63 · Market factors (momentum, volatility) 37

Profitability 31
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 93
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

Shanghai Shenqi Pharmaceutical Investment Management Co., Ltd., together with its subsidiaries, operates as a pharmaceutical manufacturing holding investment company in China.

Full company description

Shanghai Shenqi Pharmaceutical Investment Management Co., Ltd., together with its subsidiaries, operates as a pharmaceutical manufacturing holding investment company in China. The company engages in the research and development, and production of anti-tumor, cardiovascular, cerebrovascular, rheumatism bone pain, tonic and sedative, cold and cough, anti-fungal, gynecology, and other treatment fields. Its products include prescription drugs and OTC products, including products include sodium cantharidate vitamin B6 injection, sodium cantharidin injection, loquat cough granules, strong loquat dew, loquat cough capsules, jinwu gutong capsules, coral ringworm net, jingwu capsules, quantianma capsules, yindan xintai pills, etc. The company was founded in 1990 and is based in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Shenqi Pharmaceutical Investment Management Co reported revenue of ¥2.0B in FY2025 versus ¥2.3B in FY2021, a compound −4.0%/yr. Reported net income was ¥38.2M in FY2025, compounding −13.9%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.0B CNY
Latest YoY
−4.7%
Avg. growth/yr (3Y) 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.
−6.5%
Avg. growth/yr (5Y) 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.
+1.4%
Avg. growth/yr (33Y) 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.
+9.6%
Revenue −4.0%/yr
FY21 ¥2.3B
FY22 ¥2.4B
FY23 ¥2.3B
FY24 ¥2.0B
FY25 ¥2.0B
Net income −13.9%/yr
FY21 ¥69.6M
FY22 ¥48.5M
FY23 ¥57.0M
FY24 ¥71.4M
FY25 ¥38.2M
Character of growth · EPS growth decomposed (2013-2024) −11.7 % p.a.
Revenue per share +5.9 pp

of which total revenue +6.6 pp · buybacks/dilution −0.7 pp

EBIT margin −15.1 pp
Tax rate −1.4 pp
Residual (interest, one-offs) −1.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

600613 screens 48% overvalued. Compare with Eli Lilly and Company →

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Cite: Fair Value Calculator (2026). "Shanghai Shenqi Pharmaceutical Investment Management Co Fair Value". https://www.fairvalue-calculator.com/stock/600613

Peer Group

Drug Manufacturers - General · 76 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 63 · Above median
Fair Value upside −48% · Below median
Return on equity (TTM) 1% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 2% · Bottom 25%
Operating margin (TTM) 5% · Bottom 25%
Revenue growth -12% · Bottom 25%
Dividend yield (TTM) 1.4% · Below median
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper

P/E (TTM) 84.8× · Pricier than 75% of peers
P/B 1.17× · Cheaper than 75% of peers
P/S (TTM) 1.43× · Cheaper than median
P/FCF 4.4× · Cheaper than median
EV/EBITDA 15.6× · Pricier than median

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 24
PAST 6 · sector 50
HEALTH 98 · sector 94
DIVIDEND 28 · sector 46

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 Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
Eli Lilly and Company LLY $1,182 $396.77 -66%
Johnson & Johnson, JNJ $257.59 $169.04 -34%
AbbVie Inc ABBV $254.49 $67.72 -73%
Roche Holding 1RO €392.80 €226.68 -42%
Merck & Co MRK €108.08 €121.54 +12%
Novartis AG NVSN 2,742 MXN 2,379 MXN -13%
AstraZeneca PLC AZN $171.61 $129.54 -25%
Novo Nordisk A/S NOVOB kr 329.90 kr 409.46 +24%
Amgen Inc AMGN $363.39 $252.02 -31%
Sanofi SNYN 770.00 MXN 1,251 MXN +63%

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Frequently asked questions

Is Shanghai Shenqi Pharmaceutical Investment Management Co (600613) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥2.71 versus a price of ¥5.19, about −48% (overvalued).
What is the fair value of 600613?
Our model-based fair value for Shanghai Shenqi Pharmaceutical Investment Management Co is ¥2.71 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥5.19.
What is the quality score of 600613?
Shanghai Shenqi Pharmaceutical Investment Management Co has a Quality Score of 63/100. 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 Shanghai Shenqi Pharmaceutical Investment Management Co (600613)?
Shanghai Shenqi Pharmaceutical Investment Management Co reported trailing-twelve-month revenue of about 1.9B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600613?
The net profit margin of Shanghai Shenqi Pharmaceutical Investment Management Co is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.
Does Shanghai Shenqi Pharmaceutical Investment Management Co pay a dividend?
Shanghai Shenqi Pharmaceutical Investment Management Co currently shows a dividend yield of about 1.40% relative to its recent price (as of Aug 9, 2026).

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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