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Xiamen Amoytop Biotech Co (688278) Fair Value & Analysis

Healthcare · CN · Market cap 23.3B CNY

XA Xiamen Amoytop Biotech Co 688278 · SHG
Price¥55.96
Fair Value¥48.18
Upside-13.9%
Quality68/100
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Mixed Growth
Highly profitable · 26.5% net margin
generates free cash flow
1.05% dividend yield
Ranks above peers (8/13)
Wide moat 88/100
Evidence: Medium Range ¥30.43 – ¥117.47 Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Share price +2.5% over the past month.

A solid business, but screening 14% overvalued on our models.

What matters now

  • The model range is unusually wide (¥30.43 to ¥117.47). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

¥91.33 ¥22.61 Fair Value ¥48.18 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range ¥22.61 – ¥91.33 · fair‑value band ¥30.43 – ¥117.47 · the ¥55.96 price screens above the ¥48.18 fair value. Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Xiamen Amoytop Biotech Co (688278) currently trades at ¥55.96, while our model-based Fair Value estimate is ¥48.18, implying the stock looks roughly 13.9% overvalued today. The Quality Score stands at 68/100 (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, Xiamen Amoytop Biotech Co generated revenue of 3.8B CNY at a net margin of 26.5%. Revenue grew 18.5% year over year. It earns a return on equity of 31.8%. The balance sheet holds a net cash position of 369M CNY. Fundamentals as of Jul 12, 2026

Our scenario range runs from ¥30.43 (bear case) to ¥117.47 (bull case); at ¥55.96, 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 40% below its 52-week high and 5% 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 -14%, 688278 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.

Model BearBaseBull Evidence
Highest evidence
Residual Income ¥19.82 ¥29.08 ¥325.38 76
Growth DCF ¥19.71 ¥37.78 ¥67.40 72
Gordon GGM ¥5.69 ¥11.83 ¥18.76 70
All 26 models by family
DCF Models
FCF DCF ¥20.87 ¥32.06 ¥67.69 38
Owner Earnings ¥36.21 ¥80.67 ¥174.01 31
5Y Revenue Exit ¥22.08 ¥38.76 ¥73.79 39
5Y EBITDA Exit ¥33.47 ¥61.80 ¥117.47 41
5Y P/E Exit ¥38.38 ¥90.07 ¥161.55 38
10Y Revenue Exit ¥21.26 ¥48.58 ¥67.07 36
10Y EBITDA Exit ¥30.43 ¥73.11 ¥149.78 37
10Y P/E Exit ¥34.01 ¥83.67 ¥167.70 35
Earnings-Based
Graham-Dodd ¥17.29 ¥120.56 ¥169.19 54
Lynch FV ¥61.38 ¥87.68 ¥113.99 50
PEG = 1.0 ¥61.38 ¥87.68 ¥113.99 46
EPV ¥27.32 ¥31.65 ¥35.44 59
Dividend Discount
Gordon GGM ¥5.69 ¥11.83 ¥18.76 70
DDM Multi-Stage ¥5.69 ¥9.97 ¥12.41 61
Multiples
P/E Multiple ¥41.95 ¥55.93 ¥69.91 63
P/S Multiple ¥23.77 ¥31.69 ¥39.61 58
P/B Multiple ¥24.88 ¥33.17 ¥41.47 55
EV/EBIT ¥40.51 ¥53.56 ¥66.62 53
EV/EBITDA ¥36.81 ¥48.63 ¥60.45 54
EV/Revenue ¥20.37 ¥28.52 ¥36.66 43
Asset-Based
NCAV (Graham) ¥3.69 ¥4.94 ¥7.37 50
Growth DCF
Growth DCF ¥19.71 ¥37.78 ¥67.40 72
Rev-Margin DCF ¥24.33 ¥44.11 ¥85.38 67
Economic Profit
Residual Income ¥19.82 ¥29.08 ¥325.38 76
ROIC Compounder ¥34.44 ¥50.94 ¥72.60 67
Growth Earnings
Growth-Adj P/E ¥81.70 ¥116.72 ¥151.74 68

Widest divergence: Growth Earnings (¥116.72) versus Asset-Based (¥4.94). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 3.8B CNY
Revenue growth (YoY) +18.5%
Net margin 26.5%
Return on equity 31.8%
Free cash flow 473M CNY FY2025
P/E ratio 23.1
More key figures
Operating margin 24.6%
EPS (TTM) ¥2.47
Dividend yield 1.1%
EPS growth (YoY) -11.1%
Net cash 369M CNY FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 67 · Market factors (momentum, volatility) 31

Profitability 92
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 24
Disciplined investing over empire-building
Low Volatility 77
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 8
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

Xiamen Amoytop Biotech Co., Ltd. engages in research, development, production, and sale of recombinant protein drugs in China and internationally.

Full company description

Xiamen Amoytop Biotech Co., Ltd. engages in research, development, production, and sale of recombinant protein drugs in China and internationally. It offers various drug products, including pegsomatropin injection, pegfilgrastim injection, molgramostim, filgrastim, and oprelvekin; active pharmaceutical ingredients (APIs); and reagents to treat viral hepatitis, malignant tumors, and immunotherapy. Xiamen Amoytop Biotech Co., Ltd. was founded in 1996 and is headquartered in Xiamen, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Xiamen Amoytop Biotech Co reported revenue of ¥3.7B in FY2025 versus ¥1.1B in FY2021, a compound +34.4%/yr. Reported net income was ¥1.0B in FY2025, compounding +54.7%/yr from FY2021.

Growth Quality 91/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
3.7B CNY
Latest YoY
+31.2%
Avg. growth/yr (3Y)
+34.3%
Avg. growth/yr (5Y)
+36.0%
Avg. growth/yr (9Y)
+33.2%
Revenue +34.4%/yr
FY21 ¥1.1B
FY22 ¥1.5B
FY23 ¥2.1B
FY24 ¥2.8B
FY25 ¥3.7B
Net income +54.7%/yr
FY21 ¥181M
FY22 ¥287M
FY23 ¥555M
FY24 ¥828M
FY25 ¥1.0B

688278 screens 14% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Xiamen Amoytop Biotech Co Fair Value". https://www.fairvalue-calculator.com/stock/688278

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 68 · Top 25%
Fair Value upside −14% · Above median
Return on equity (TTM) 32% · Top 25%
Return on assets 20% · Top 25%
Net margin (TTM) 27% · Top 25%
Operating margin (TTM) 25% · Top 25%
Revenue growth 19% · Above median
Dividend yield (TTM) 1.1% · Below median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 23.1× · Cheaper than median
P/B 7.73× · Pricier than 75% of peers
P/S (TTM) 6.09× · Pricier than median
P/FCF 7.3× · Pricier than median
EV/EBITDA 17.2× · 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 15 · sector 0
FUTURE 93 · sector 0
PAST 100 · sector 0
HEALTH 0 · sector 97
DIVIDEND 21 · sector 23

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 12, 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 Xiamen Amoytop Biotech Co (688278) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of ¥48.18 versus a price of ¥55.96, about −14% (overvalued).
What is the fair value of 688278?
Our model-based fair value for Xiamen Amoytop Biotech Co is ¥48.18 (as of Jul 12, 2026), built from audited fundamentals. The current price is ¥55.96.
What is the quality score of 688278?
Xiamen Amoytop Biotech Co has a Quality Score of 68/100. 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 Xiamen Amoytop Biotech Co (688278)?
Xiamen Amoytop Biotech Co reported trailing-twelve-month revenue of about 3.8B CNY (latest available figure, as of Jul 12, 2026).
What is the net profit margin of 688278?
The net profit margin of Xiamen Amoytop Biotech Co is about 26.5%, meaning it keeps roughly 26.5% of revenue as net income. Based on the latest reported figures.
Does Xiamen Amoytop Biotech Co pay a dividend?
Xiamen Amoytop Biotech Co currently shows a dividend yield of about 1.05% relative to its recent price (as of Jul 12, 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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