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3SBio

1530.HK
84
Biotechnology · Healthcare
Price
HK$16.24
-0.05 (-0.31%)
Market Cap
HK$40.61B
Exchange
Hong Kong Stock Exchange
Winston Score
84
Winston is happy
A high-quality business with solid fundamentals.
Data as of Sep 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Exceptional
Growth
Exceptional
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Good
Dividends
Weak

Share count falling — buybacks

11.0% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 2.77B (2021) → 2.47B (2025)

§Winston Score History

The full picture

Operating as an investment holding company, 3SBio Inc. specializes in the full lifecycle of biopharmaceutical products within the People's Republic of China, encompassing research, development, manufacturing, marketing, and sales. Its diverse portfolio addresses a range of medical needs. Key therapeutic agents include TPIAO, a recombinant human thrombopoietin for chemotherapy-induced and immune thrombocytopenia; YISAIPU, a tumor necrosis factor for rheumatoid arthritis, ankylosing spondylitis, and psoriasis; and recombinant human erythropoietins EPIAO and SEPO, along with Aiyishu, to combat various forms of anemia. In oncology, Cipterbin is used for HER2-positive metastatic breast cancer in combination with chemotherapy. Intefen, a recombinant human interferon, targets lymphatic or hematopoietic malignancies and viral infections, while Inleusin, a human interleukin-2, treats renal cell carcinoma, melanoma, and thoracic fluid build-up. The company also offers Mandi for male alopecia and alopecia areata; Xenopax to prevent acute rejection post-renal transplant; Byetta for glycemic control in type 2 diabetes patients; and Qiming Keli for retinopathy linked to type 2 diabetes. SPARIN, an injectable low-molecular-weight heparin calcium, serves in the prophylaxis and treatment of deep vein thrombosis, and prevents clotting during hemodialysis. Beyond its core pharmaceutical activities, 3SBio Inc. provides additional services such as trading, project management and consultation, technology, and agricultural support. The company maintains strategic alliances with numerous prominent organizations, including AstraZeneca, Lilly, Toray Industries Inc, Samsung Bioepis, Refuge Biotechnologies, Verseau, TLC, Numab, GenSight, Sensorion, and the Dana–Farber Cancer Institute. Established in 1993, its headquarters are situated in Shenyang, People's Republic of China.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+2.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-21.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

¥1.5B/ year

Rising (+15% vs prior year)

8.6% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Cash Position

Cash flow positive

¥20.3B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

3SBio is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
83.8%
Premium pricing power — 83.8% gross margin
Profit after running costs
Operating Margin
36.2%
Excellent — 36.2% operating margin
Return on the money invested
ROCE
37.7%
Exceptional — 37.7% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+96.2%
Fast-growing sales (+96.2% YoY)
Profit growth
EPS YoY
+238.8%
Earnings growing fast (+238.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
118%
Turns 118% of profit into real cash
Spare cash per sale
FCF Margin
52.4%
Converts sales into free cash efficiently (52.4%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.05
Conservative — low debt load (0.05)
Covers its interest
Interest Cover
203.67x
Comfortably covers interest (203.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
4.9x
Attractive valuation — P/E 4.9

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-8.4
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
1.54%
Small dividend — 1.54% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
N/A
Data not available

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