Company Overview - Beihai Kangcheng Pharmaceutical Co., Ltd. (stock code 01228.HK) is a leading global biopharmaceutical company in China, focusing on rare diseases and dedicated to the research, development, and commercialization of innovative therapies [2] - The company has a portfolio of 10 drug assets with significant market potential, including 2 approved products and 8 in development, targeting common rare disease indications such as Hunter syndrome and other lysosomal storage diseases [2] Financial Performance - As of December 31, 2024, Beihai Kangcheng reported total revenue of 85.103 million yuan, a year-on-year decrease of 17.27%, and a net profit attributable to shareholders of -443 million yuan, a decrease of 16.84% [1] - The gross profit margin stands at 63.81%, while the debt-to-asset ratio is 506.19% [1] Management Team - The company is led by a management team with extensive experience in the rare disease sector, with 42% of employees holding PhDs or MDs and over 70% having experience in multinational biopharmaceutical companies [3] - The management team has a strong track record in obtaining approvals and commercializing rare disease therapies in major markets, including China and the United States [3] Industry Context - The average price-to-earnings (P/E) ratio for the pharmaceutical and biotechnology industry is -2.48 times, with a median of 1.49 times. Beihai Kangcheng's P/E ratio is -1.73 times, ranking 156th in the industry [1] - Other companies in the industry have P/E ratios such as Jingxin Pharmaceutical (1.34), Kingsray Biotechnology (1.64), Dongrui Pharmaceutical (3.2), Jilin Changlong Pharmaceutical (6.04), and Hutchison China MediTech (6.09) [1] Research and Development - The company is developing new and potentially curative gene therapies for rare genetic diseases, including Pompe disease, Fabry disease, Duchenne muscular dystrophy (DMD), and other neuromuscular diseases [2] - Beihai Kangcheng collaborates with leading researchers and biotechnology companies globally, including Apogenix, GCPharma, Mirum, WuXi Biologics, Privus, Washington University School of Medicine, and ScriptrGlobal [2] Upcoming Events - The company is scheduled to disclose its mid-year report for the fiscal year 2025 on August 29, 2025 [4]
北海康成-B（01228.HK）8月22日收盘上涨27.18%，成交5373.99万港元