Sino Biopharmaceutical Ltd
01177: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$3.28 | Rvdc | Gcwcjhb |
Sino Biopharm’s Full-Year Results In Line, Shares Undervalued, but PD-1 Ramp-Up Slower Than Guided
Narrow-moat Sino Biopharmaceuticals reported full-year earnings that were in line with expectations. Revenue was CNY 26.9 billion for the full-year and CNY 12.5 billion for the past six months, both representing 14% year-on-year growth. Gross profit margin for the year improved to 80%, which is 2 percentage points better than last year and in line with our expectation due to ramp up of new drugs.