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China Medical System Holdings
(0867)
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Rating:61Neutral
Price Target:
HK$12.00
▲(7.14% Upside)
Action:Reiterated
Date:07/03/26
Overall score reflects solid financial quality anchored by a conservative balance sheet, but weighed down by weakened cash flow and reduced earnings power versus prior years. Technicals are also a headwind with price below key moving averages and a negative MACD, while valuation and dividend are reasonable but not strong enough to offset the fundamental and trend pressures.
Positive Factors
Revenue Rebound
The sharp 2025 revenue rebound shows that the company retains commercial reach and product demand across its specialty pharmaceutical portfolio, supporting scale and distribution leverage if growth becomes more consistent.
Negative Factors
Declining Earnings Power
The multi-year reduction in net income signals weaker earnings power rather than a temporary fluctuation. Lower profitability can constrain internal investment capacity and reduce the ability to absorb competitive or regulatory pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Rebound
The sharp 2025 revenue rebound shows that the company retains commercial reach and product demand across its specialty pharmaceutical portfolio, supporting scale and distribution leverage if growth becomes more consistent.
Read all positive factors
China Medical System Holdings (0867) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$26.93B
Dividend Yield3.14%
Average Volume (3M)6.23M
Price to Earnings (P/E)15.2
Beta (1Y)0.94
Revenue Growth14.80%
EPS Growth-2.88%
CountryHK
Employees6,415
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.62
Shares Outstanding2,439,528,600
10 Day Avg. Volume5,124,147
30 Day Avg. Volume6,232,535
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$17.65Price Target Upside57.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.82
Revenue Forecast (FY)HK$9.62B
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
null...
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 | 1.82B | 2.31B | 2.92B | 3.76B | 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
11.62
Negative
11.53
Negative
12.47
Negative
Market Momentum
-0.18
Positive
37.33
Neutral
21.55
Neutral
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 below the 20-day moving average (MA) of 11.37, below the 50-day MA of 11.62, and below the 200-day MA of 12.47, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 37.33 is Neutral, neither overbought nor oversold. The STOCH value of 21.55 is Neutral, 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 (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$16.46B | 25.72 | 3.09% | 3.55% | -12.86% | -83.10% | |
68 Neutral | HK$27.86B | 5.91 | 7.92% | 4.92% | 7.94% | 52.83% | |
67 Neutral | HK$24.50B | 14.16 | 11.97% | 7.88% | -5.90% | -18.84% | |
61 Neutral | HK$26.93B | 15.25 | 8.60% | 3.14% | 14.80% | -2.88% | |
61 Neutral | HK$7.32B | 20.12 | 5.03% | 1.37% | 29.68% | ― | |
59 Neutral | HK$36.22B | 12.81 | 6.64% | 6.35% | 6.58% | -4.29% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:0867
China Medical System Holdings
10.97
-3.16
-22.39%
HK:3933
The United Laboratories International Holdings
8.42
-7.86
-48.28%
HK:0874
Guangzhou Baiyunshan Pharmaceutical Holdings Company
13.58
-3.97
-22.62%
HK:1513
Livzon Pharmaceutical Group
20.86
-14.29
-40.65%
HK:0460
Sihuan Pharmaceutical Holdings Group
0.80
-0.84
-51.47%
HK:3320
China Resources Pharmaceutical Group Ltd.
4.43
-0.29
-6.19%
China Medical System Holdings Corporate Events
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...
China Medical System Wins Trial Nod for New AMD Drug CMS-D017
Jul 15, 2026
China Medical System Holdings has obtained approval from China’s National Medical Products Administration to begin clinical trials of its self-developed oral Complement Factor B inhibitor CMS-D017 for age-related macular degeneration. The dr...
China Medical System Details Board and Governance Committee Structure
Jun 29, 2026
China Medical System Holdings has outlined the composition of its board of directors, detailing the roles of executive members, including chairman and chief executive Mr. Lam Kong and chief financial officer Ms. Chen Yanling, alongside four indepe...
China Medical System appoints Singapore law veteran as independent director
Jun 29, 2026
China Medical System Holdings has appointed veteran Singaporean lawyer Lee Sien Liang, Joseph as an independent non-executive director effective 29 June 2026, fulfilling its obligation to add a Singapore-resident independent director within a year...
China Medical System Wins China Approval for First Bispecific Rabies Antibody
Jun 22, 2026
China Medical System Holdings has secured Chinese regulatory approval for Silevimig Injection, a Class 1 innovative recombinant fully human bispecific antibody for passive immunization in adults after rabies virus exposure. The product, marketed a...
China Medical System Wins NMPA Nod for TYK2 IBD Trial
May 25, 2026
China Medical System Holdings has received approval from China’s National Medical Products Administration to begin clinical trials of CMS-D001, a highly selective TYK2 inhibitor, for ulcerative colitis and Crohn’s disease. The drug, de...
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.