Want to see HK:0867 full AI Analyst Report?
Top Page
China Medical System Holdings
(0867)
Select Model
Select Model
Rating:61Neutral
Price Target:
HK$11.00
▼(-1.79% Downside)
Action:Reiterated
Date:10/03/26
The score is anchored by a strong low-debt balance sheet but pulled down by weakening earnings/cash generation trends and clear bearish technical signals. Reasonable valuation and a ~3.25% dividend yield provide partial offset.
Positive Factors
Conservative Balance Sheet
Very low leverage and steadily growing equity provide financial flexibility and reduce dependence on borrowing. This strengthens resilience through operating volatility, supports continued investment in the pharmaceutical portfolio, and leaves management more capacity to fund opportunities or absorb setbacks.
Negative Factors
Declining Earnings Power
The multi-year decline in net income indicates that CMS’s earnings power has not kept pace with its revenue recovery. Margin compression can limit reinvestment, weaken returns to shareholders, and make future results more dependent on successful product launches or portfolio changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Very low leverage and steadily growing equity provide financial flexibility and reduce dependence on borrowing. This strengthens resilience through operating volatility, supports continued investment in the pharmaceutical portfolio, and leaves management more capacity to fund opportunities or absorb setbacks.
Read all positive factors
China Medical System Holdings (0867) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$24.18B
Dividend Yield3.47%
Average Volume (3M)4.07M
Price to Earnings (P/E)13.6
Beta (1Y)0.84
Revenue Growth14.80%
EPS Growth-2.88%
CountryHK
Employees6,415
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.62
Shares Outstanding2,439,528,600
10 Day Avg. Volume5,225,932
30 Day Avg. Volume4,069,999
Financial Highlights & Ratios
PEG Ratio-2.50
Price to Book (P/B)1.61
Price to Sales (P/S)3.41
P/FCF Ratio114.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$17.81Price Target Upside59.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.83
Revenue Forecast (FY)HK$9.60B
China Medical System Holdings Business Overview & Revenue Model
Company Description
Established in 1995 and headquartered in North Point, Hong Kong, China Medical System Holdings Limited functions as an investment holding company with a primary focus on the development, marketing, and distribution of a wide array of pharmaceutica...
How the Company Makes Money
CMS primarily generates revenue by selling pharmaceutical products in China, earning income from the commercialization of prescription drugs it owns, licenses, or distributes. Key revenue streams typically include: (1) Product sales: revenue recog...
China Medical System Holdings Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
88
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.65B | 8.21B | 7.47B | 8.01B | 9.15B | 8.34B |
| Gross Profit | 6.16B | 5.87B | 5.42B | 6.08B | 7.04B | 6.25B |
| EBITDA | 2.00B | 1.85B | 2.31B | 2.94B | 3.78B | 3.70B |
| Net Income | 1.52B | 1.49B | 1.62B | 2.40B | 3.26B | 3.02B |
Balance Sheet | ||||||
| Total Assets | 19.67B | 19.21B | 18.05B | 17.73B | 17.75B | 15.81B |
| Cash, Cash Equivalents and Short-Term Investments | 5.75B | 5.79B | 5.87B | 6.14B | 5.87B | 4.36B |
| Total Debt | 882.77M | 690.37M | 860.74M | 1.30B | 1.81B | 1.71B |
| Total Liabilities | 1.59B | 1.66B | 1.64B | 2.17B | 3.02B | 2.96B |
| Stockholders Equity | 17.94B | 17.40B | 16.31B | 15.52B | 14.59B | 12.75B |
Cash Flow | ||||||
| Free Cash Flow | 491.88M | 244.01M | 812.64M | 2.18B | 3.03B | 2.31B |
| Operating Cash Flow | 1.03B | 758.42M | 1.27B | 2.50B | 3.55B | 2.49B |
| Investing Cash Flow | -1.25B | -984.32M | -615.10M | -442.28M | -1.18B | -1.52B |
| Financing Cash Flow | -630.97M | -770.94M | -1.26B | -2.13B | -1.40B | -258.39M |
China Medical System Holdings Technical Analysis
Negative
11.20
Price Trends
10.75
Negative
11.04
Negative
12.03
Negative
Market Momentum
-0.25
Positive
35.10
Neutral
14.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0867, the sentiment is Negative. The current price of 11.2 is above the 20-day moving average (MA) of 10.32, above the 50-day MA of 10.75, and below the 200-day MA of 12.03, indicating a bearish trend. The MACD of -0.25 indicates Positive momentum. The RSI at 35.10 is Neutral, neither overbought nor oversold. The STOCH value of 14.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0867.
China Medical System Holdings Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | HK$25.81B | 15.79 | 11.32% | 7.00% | -9.56% | -23.22% | |
68 Neutral | HK$28.24B | 5.99 | 7.92% | 5.33% | 7.94% | 52.83% | |
61 Neutral | HK$24.18B | 13.57 | 8.60% | 3.47% | 14.80% | -2.88% | |
58 Neutral | HK$13.51B | 20.93 | 3.12% | 4.36% | -12.86% | -83.10% | |
57 Neutral | HK$34.83B | 14.56 | 5.57% | 6.85% | 6.00% | -23.05% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | HK$6.62B | 18.02 | 5.03% | 1.54% | 29.68% | ― |
* General Sector Average
HK:0867
China Medical System Holdings
9.91
-3.15
-24.10%
HK:3933
The United Laboratories International Holdings
6.86
-5.33
-43.74%
HK:0874
Guangzhou Baiyunshan Pharmaceutical Holdings Company
12.59
-5.08
-28.76%
HK:1513
Livzon Pharmaceutical Group
22.22
-5.56
-20.00%
HK:0460
Sihuan Pharmaceutical Holdings Group
0.71
-0.75
-51.40%
HK:3320
China Resources Pharmaceutical Group Ltd.
4.50
-0.23
-4.83%
China Medical System Holdings Corporate Events
China Medical System Updates Name of Singapore Share Transfer Agent
Sep 30, 2026
China Medical System Holdings has announced an administrative change to its Singapore share transfer arrangements, effective 1 October 2026. The company’s Singapore share transfer agent will be renamed from In.Corp Corporate Services Pte. Lt...
China Medical System Wins Trial Nod for New Lupus Drug CMS-D001
Sep 14, 2026
China Medical System Holdings Limited has received approval from China’s National Medical Products Administration to conduct clinical trials of its innovative oral drug CMS-D001 for systemic lupus erythematosus. The product, a highly selecti...
China Medical System Wins China Approval for Lumirix in Atopic Dermatitis
Sep 3, 2026
China Medical System Holdings said Dermavon has secured Chinese regulatory approval for a new indication of its ruxolitinib phosphate cream Lumirix for the topical, short-term and non-continuous chronic treatment of mild to moderate atopic dermati...
China Medical System Revises Interim Dividend for First Half of 2026
Aug 18, 2026
China Medical System Holdings Limited has revised its interim dividend for the six months ended 30 June 2026, declaring a cash payout of RMB 0.1634 per share, equivalent to HKD 0.189 per share. The adjustment underscores the company’s contin...
China Medical System lifts H1 earnings as innovative drugs drive growth
Aug 17, 2026
China Medical System Holdings reported interim results for the first half of 2026, with turnover rising 12.5% to RMB4.5 billion and gross profit up 11.4%. Profit for the period increased 4.3% to RMB971.5 million, basic earnings per share grew 4.7%...
China Medical System Declares Interim Dividend for First Half of 2026
Aug 17, 2026
China Medical System Holdings has declared an interim ordinary dividend of RMB 0.1643 per share for the six months ended 30 June 2026, payable in Hong Kong dollars at HKD 0.189 per share. The declaration reflects management’s decision to ret...
China Medical System Schedules Board Meeting to Review Interim Results and Dividend
Aug 5, 2026
China Medical System Holdings has announced that its board of directors will convene a meeting on 17 August 2016 to review the interim results for the six months ended 30 June 2016. At the same meeting, the board will also consider the potential p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.