Company Profile · Healthcare

Sichuan Biokin Pharmaceutical Co. Ltd. A

688506 · Shanghai
Industry
Pharmaceuticals
Exchange
Shanghai
Country
China
Employees
3,198
Website
www.baili-pharm.com
Current Price
¥333.58
Live · Jul 15, 2026
Fair Buy
≤ ¥195
Margin-of-safety entry
Baillie Growth Score
47/100
Weak
Intrinsic Value · Three-Tier Range Current price ¥333.58 Live · Within the fair intrinsic-value range

Composite valuation range · conservative ¥180–¥195 / fair ¥280–¥370 / optimistic ¥490–¥550. At ¥333.58, Within the fair intrinsic-value range.

At publication ¥329.69 (Jul 23, 2026)

Financial snapshot
Market capCN¥135.84B
Revenue (TTM)CN¥2.55B
EBITDA-CN¥909.1M
Profit margin-50.91%
ROE-28.77%
Forward P/E0
EPS-CN¥3.16
52-week rangeCN¥200.10 – CN¥414.02

Data from EODHD, shown in the reporting currency; for reference only, not investment advice.

About the company

Sichuan Biokin Pharmaceutical Co.,Ltd. engages in the research and development, manufacture, and sale of biomedicine in the fields of antibody drug conjugate, guidance navigation and control, and antibody radionuclide conjugate in China and internationally. It offers anesthesia, parenteral nutrition, anti-infectives, pediatrics, and traditional Chinese medicines. The company was founded in 1996 and is headquartered in Chengdu, China.

Background

History

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Industry position

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Research on this stock
47/100 Hold Sichuan Baili Tianheng: A De-Risked ADC Story the Market Has Already Priced In Sichuan Baili Tianheng (STAR Market 688506, English IR name Sichuan Biokin) is a China-listed oncology biotech whose legacy generics business in anesthesia, parenteral nutrition and traditional Chinese medicine still funds operations, but whose roughly CNY 141 billion market value is now dominated by iza-bren (BL-B01D1), a first-in-class bispecific EGFR×HER3 ADC licensed to Bristol Myers Squibb for $800 million upfront plus billions more in potential milestones. The core tension: 2024 revenue and profit spiked on that upfront payment (revenue up 936% to CNY 5.82 billion), then reverted to a CNY 1.05 billion net loss in 2025 as licensing income normalized, and Q1 2026 still burned CNY 741.8 million of operating cash against just CNY 94.6 million of revenue, all while iza-bren was winning FDA Breakthrough Therapy Designation and its first two China approvals in 2026. Rating Hold: a genuinely de-risked, first-in-class ADC franchise, but at CNY 329.69 the shares already sit near the middle of a reasonable fair-value band with no obvious margin of safety. Sichuan Baili Tianheng Pharmaceutical Co., Ltd.688506 · ShanghaiPharmaceuticalsJul 23, 2026