行业估值方面，药品及生物科技行业市盈率（TTM）平均值为-2.48倍，行业中值1.49倍。北海康成-B市 盈率-1.73倍，行业排名第156位；其他精优药业（00858.HK）为1.34倍、金斯瑞生物科技（01548.HK） 为1.64倍、东瑞制药（02348.HK）为3.2倍、吉林长龙药业（08049.HK）为6.04倍、和黄医药 （00013.HK）为6.09倍。 资料显示，北海康成制药有限公司(以下简称'北海康成',股票代码1228.HK)是一家在中国领先并专注罕 见疾病领域的全球化的生物制药公司,致力于创新疗法的研究、开发和商业化。公司目前拥有10个具有 可观市场潜力的药物资产组合,其中包括2种已获批上市产品和8个在研药物。这些产品均针对一些较普 遍的罕见疾病适应症,比如亨特综合征和其他溶酶体贮积症、补体介导的疾病、血友病A、代谢紊乱、罕 见的胆汁淤积性肝病、神经肌肉疾病。 北海康成的新一代基因技术研发中心实验室正在开发针对罕见遗传病,包括庞贝氏症、法布雷病、杜氏 肌肉营养不良症(DMD)和其他神经肌肉疾病的新型及潜在治愈性的基因疗法,并与世界领先的研究人员 和生物技术公司合作。公司的全球合作伙伴包括 ...

Company Overview - Beihai Kangcheng is a leading global biopharmaceutical company in China, focusing on rare diseases, with a portfolio of 10 drug assets, including 2 approved products and 8 in development [2][3] - The company is dedicated to the research, development, and commercialization of innovative therapies targeting common rare disease indications such as Hunter syndrome and other lysosomal storage diseases, complement-mediated diseases, hemophilia A, metabolic disorders, rare cholestatic liver diseases, and neuromuscular 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 year-on-year decrease of 16.84% [1] - The company's gross profit margin stands at 63.81%, with a debt-to-asset ratio of 506.19% [1] Market Position and Valuation - Currently, there are no institutional investment ratings for Beihai Kangcheng [2] - The average price-to-earnings (P/E) ratio for the pharmaceutical and biotechnology industry is 5.92 times, with a median of 5.86 times; Beihai Kangcheng's P/E ratio is -0.12 times, ranking 153rd in the industry [2] 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 [3] - Beihai Kangcheng collaborates with leading researchers and biotechnology companies globally, including Apogenix, GCPharma, Mirum, WuXi Biologics, Privus, Washington University School of Medicine, and ScriptrGlobal [3] Management Team - The management team has 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 team has a successful track record in obtaining approvals and commercializing rare disease therapies in major markets, including China and the United States [3]