Asymchem Laboratories Tianjin Co Ltd (6821) Fair Value & Analysis

Healthcare · HK · Market cap HK$38.4B (≈ $4.9B) · ISIN CNE100004Z06

What is Asymchem Laboratories Tianjin Co Ltd really worth?

AL Asymchem Laboratories Tianjin Co Ltd 6821 · HK

PriceHK$133.80

Fair ValueHK$101.26

Upside−24.3%

Quality63/100

A solid business, but trading 32% above our fair value of HK$101.26.

As of Sep 5, 2026, the fair value of Asymchem Laboratories Tianjin Co Ltd is HK$101.26 per share against a price of HK$133.80, so the fair value sits 24% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Solidly profitable · 16.0% net margin

✓generates free cash flow

Risks

!Weak Growth (revenue 5y +16.2 %/yr)

!Mixed vs. peers (6/13)

!Moderate moat 55/100

!Weak on past: 25 out of 100

!Weak on dividend: 19 out of 100

For context

·0.97% dividend yield

Evidence: High Range HK$73.30 – HK$126.58

Fair value as of: Sep 5, 2026

From 26 valuation models · updated yesterday

Fair value updated Sep 5, 2026, revised from HK$81.66 to HK$101.26 (+24.0%) since Aug 13, 2026. Share price +17.8% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

The price sits above even our optimistic bull case (HK$126.58). 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.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

57‑month range HK$37.85 – HK$240.96 · fair‑value band HK$73.30 – HK$126.58 · the HK$133.80 price screens above the HK$101.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Asymchem Laboratories Tianjin Co Ltd (6821) currently trades at HK$133.80, while our model-based Fair Value estimate is HK$101.26, implying the stock looks roughly 32.1% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of HK$126.48 per share, and 2 of the 26 models we run sit above the HK$133.80 price. Bear case: the Dividend Discount group reads lowest at HK$22.15, and 24 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Asymchem Laboratories Tianjin Co Ltd generated revenue of HK$6.9B at a net margin of 16.0%. Revenue grew 16.9% year over year. It earns a return on equity of 6.3%. The balance sheet holds a net cash position of HK$6.1B. Fundamentals as of Sep 5, 2026

Our scenario range runs from HK$73.30 (bear case) to HK$126.58 (bull case); at HK$133.80, 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 near its 52-week high and 96% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −56% fair-value upside, at −24%, 6821 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.7767 per share, which is 0.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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

FCF DCF best evidence HK$30.05 HK$34.67 HK$49.35 77

Growth DCF HK$29.58 HK$36.08 HK$49.23 75

Residual Income HK$49.04 HK$51.06 HK$53.02 74

All 26 models by family

DCF Models

FCF DCF best evidence HK$30.05 HK$34.67 HK$49.35 77

Owner Earnings HK$44.59 HK$73.39 HK$133.86 68

5Y Revenue Exit HK$56.06 HK$89.63 HK$159.93 65

5Y EBITDA Exit HK$73.59 HK$125.40 HK$226.50 67

5Y P/E Exit HK$72.90 HK$148.82 HK$253.88 63

10Y Revenue Exit HK$47.27 HK$95.16 HK$134.44 61

10Y EBITDA Exit HK$61.77 HK$132.25 HK$268.71 59

10Y P/E Exit HK$61.27 HK$130.79 HK$256.67 56

Earnings-Based

Graham-Dodd HK$26.82 HK$187.03 HK$262.47 61

Lynch FV HK$67.20 HK$95.99 HK$124.79 59

PEG = 1.0 HK$67.20 HK$95.99 HK$124.79 55

EPV HK$58.31 HK$64.35 HK$69.65 70

Dividend Discount

Gordon GGM HK$12.63 HK$26.26 HK$41.66 64

DDM Multi-Stage HK$12.63 HK$22.15 HK$27.56 64

Multiples

P/E Multiple HK$65.07 HK$86.77 HK$108.46 63

P/S Multiple HK$50.28 HK$67.05 HK$83.81 58

P/B Multiple HK$50.28 HK$67.05 HK$83.81 55

EV/EBIT HK$77.69 HK$96.25 HK$114.81 63

EV/EBITDA HK$88.01 HK$110.01 HK$132.01 64

EV/Revenue HK$61.75 HK$78.78 HK$95.82 52

Asset-Based

NCAV (Graham) HK$30.71 HK$41.14 HK$61.41 51

Growth DCF

Growth DCF HK$29.58 HK$36.08 HK$49.23 75

Rev-Margin DCF HK$56.06 HK$99.22 HK$175.63 65

Economic Profit

Residual Income HK$49.04 HK$51.06 HK$53.02 74

ROIC Compounder HK$58.31 HK$68.69 HK$82.83 68

Growth Earnings

Growth-Adj P/E HK$88.53 HK$126.48 HK$164.42 65

Widest divergence: Growth Earnings (HK$126.48) versus Dividend Discount (HK$22.15). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/E ratio 29.7 as of Jul 2, 2026

P/S ratio 5.04 P/E × margin

EPS (TTM) HK$2.44 price ÷ EPS = P/E 29.7

Dividend yield 1.0% payout 53.3%

Net margin 17.0% FY2025

Return on equity 6.3% TTM

More key figures

Profitability

Return on assets (EBIT) 10.6% avg 5y

Operating margin 22.3% TTM

Growth

Revenue (TTM) HK$6.9B TTM

Revenue growth (YoY) +16.9% 3y avg −13.4%

EPS growth (YoY) −5.6%

Balance sheet & cash flow

Free cash flow HK$137M FY2025

Net cash HK$6.1B FY2025

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 62 · Market factors (momentum, volatility) 78

Profitability 38

Margins and returns on capital today

Quality Growth 58

Are margins and returns improving?

Cashflow 37

Earnings quality: real cash, not paper profit

Fin. Strength 100

Balance sheet, leverage, solvency risk

Investment 56

Disciplined investing over empire-building

Low Volatility 50

Calm price path (market factor)

Momentum 87

Price trend over the last 3–12 months (market factor)

52W Momentum 94

Distance to the 52-week high (market factor)

Net Issuance 87

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Asymchem Laboratories (Tianjin) Co., Ltd. provides contract development and manufacturing organization (CDMO) solutions in Mainland China and internationally.

Full company description

Asymchem Laboratories (Tianjin) Co., Ltd. provides contract development and manufacturing organization (CDMO) solutions in Mainland China and internationally. It is involved in small molecule CDMO services for projects covering multiple major disease treatment areas, such as oncology, antiviral, anti-infective, cardiovascular, and diabetes; chemical macromolecule CDMO; biomacromolecule CDMO, including antibody-peptide conjugates; formulation CDMO; clinical CRO; synthetic biology and new technology output business. The company also engages in key pharmaceutical intermediates, APIs, and formulations activities. The company was founded in 1998 and is headquartered in Tianjin, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asymchem Laboratories Tianjin Co Ltd reported revenue of 6.7B CNY in FY2025 versus 4.6B CNY in FY2021, a compound +9.5%/yr. Reported net income was 1.1B CNY in FY2025, compounding +1.4%/yr from FY2021.

Growth Quality 40/100

Revenue growth is weak, negative or inconsistent.

Latest Revenue (FY 2025)

HK$6.7B

Latest YoY

+14.9%

Avg. revenue 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.

−13.4%

Avg. revenue 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.

+16.2%

Avg. revenue growth/yr (14Y) ⓘ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.

+22.1%

Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.

+8.7% · in HKD

Earnings growth per share plus dividend yield: the value created per share and year.

Earnings growth per share+7.7%

Dividend yield1.0%

Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 7.7% vs 10Y 18.0%, flattening

Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.25.9% (2020) → 18.8% (2025) · falling

Worst earnings drop70% (2024) · in HKD

Revenue +9.5%/yr

FY21 4.6B CNY

FY22 10.3B CNY

FY23 7.8B CNY

FY24 5.8B CNY

FY25 6.7B CNY

Net income +1.4%/yr

FY21 1.1B CNY

FY22 3.3B CNY

FY23 2.3B CNY

FY24 949M CNY

FY25 1.1B CNY

Character of growth · EPS growth decomposed (2014-2025) +22.2 % p.a.

Revenue per share +20.7 %

of which total revenue +25.4 % · buybacks/dilution −3.8 %

EBIT margin +0.1 %

Tax rate +0.5 %

Residual (interest, one-offs) +0.7 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

6821 screens 32% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Asymchem Laboratories Tianjin Co Ltd · Fair Value
HK$101.26 −32%Fair Value
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<a href="https://www.fairvalue-calculator.com/stock/6821.HK" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Asymchem Laboratories Tianjin Co Ltd · Fair Value</span><br><b style="font-size:20px">HK$101.26</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−32%</span></span><span style="font-size:11px;color:#7BB290;font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Asymchem Laboratories Tianjin Co Ltd Fair Value". https://www.fairvalue-calculator.com/stock/6821.HK

Peer Group

Biotechnology · 627 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 · Top 25%

Fair Value upside −54% · Below median

Return on equity (TTM) 6% · Above median

Return on assets 4% · Top 25%

Net margin (TTM) 16% · Top 25%

Operating margin (TTM) 22% · Top 25%

Revenue growth 17% · Above median

Dividend yield (TTM) 1.0% · Below median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 29.7× · Pricier than median

P/B 2.18× · Pricier than median

P/S (TTM) 5.54× · Pricier than median

P/FCF 35.7× · Pricier than 75% of peers

EV/EBITDA 19.3× · Pricier than median

Strength profile in five axes (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.

This stock

Sector peers

VALUE0 · sector 0

FUTURE85 · sector 0

PAST25 · sector 0

HEALTH0 · sector 98

DIVIDEND19 · sector 26

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

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Frequently asked questions

Is Asymchem Laboratories Tianjin Co Ltd (6821) overvalued or undervalued?

As of Sep 5, 2026, our model estimates a fair value of HK$101.26 versus a price of HK$133.80, about −24% upside (overvalued).

What is the fair value of 6821?

Our model-based fair value for Asymchem Laboratories Tianjin Co Ltd is HK$101.26 (as of Sep 5, 2026), built from audited fundamentals. The current price: HK$133.80.

What is the quality score of 6821?

Asymchem Laboratories Tianjin Co Ltd 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 price target for Asymchem Laboratories Tianjin Co Ltd (6821)?

Our model-based price target is the fair value of HK$101.26 (as of Sep 5, 2026) from 26 valuation models. Cautious scenario HK$73.30, optimistic scenario HK$126.58. It is a calculation from audited fundamentals, not an analyst target.

What is the Asymchem Laboratories Tianjin Co Ltd stock forecast for 2026?

Our models put fair value at HK$101.26, about −24% upside versus a price of HK$133.80 (overvalued). Cautious scenario HK$73.30, optimistic scenario HK$126.58. The calculation is refreshed regularly with new filings.

What is the revenue of Asymchem Laboratories Tianjin Co Ltd (6821)?

Asymchem Laboratories Tianjin Co Ltd reported trailing-twelve-month revenue of about HK$6.9B (latest available figure, as of Sep 5, 2026).

What is the net profit margin of 6821?

The net profit margin of Asymchem Laboratories Tianjin Co Ltd is about 16.0%, meaning it keeps roughly 16.0% of revenue as net income. Based on the latest reported figures.

Does Asymchem Laboratories Tianjin Co Ltd pay a dividend?

Asymchem Laboratories Tianjin Co Ltd currently shows a dividend yield of about 0.97% relative to its recent price (as of Sep 5, 2026).

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