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The United Laboratories International Holdings
(3933)
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Rating:70Outperform
Price Target:
HK$9.00
â–˛(2.62% Upside)
Action:Upgraded
Date:07/03/26
The score is supported most by attractive valuation (low P/E and high dividend yield) and a generally healthy, moderately leveraged balance sheet. Offsetting this, financial performance has softened in 2025 (revenue decline, margin/ROE compression) and cash generation is weaker versus accounting earnings, while technicals suggest the stock is still in a longer-term downtrend despite a short-term recovery.
Positive Factors
Diversified pharmaceutical platform
The combination of finished medicines and APIs/intermediates gives the company exposure to multiple pharmaceutical revenue pools. Internal API use can support product manufacturing, while external sales broaden demand sources and provide a platform for scale across therapeutic markets.
Negative Factors
Revenue and margin contraction
The reversal from strong earlier revenue expansion to a 2025 decline signals weaker near-term demand or product momentum. Concurrent margin compression means lower sales are reaching the bottom line less efficiently, creating a more difficult base for restoring earnings growth over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified pharmaceutical platform
The combination of finished medicines and APIs/intermediates gives the company exposure to multiple pharmaceutical revenue pools. Internal API use can support product manufacturing, while external sales broaden demand sources and provide a platform for scale across therapeutic markets.
Read all positive factors
The United Laboratories International Holdings (3933) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$16.68B
Dividend Yield3.68%
Average Volume (3M)7.48M
Price to Earnings (P/E)25.0
Beta (1Y)0.87
Revenue Growth-12.86%
EPS Growth-83.10%
CountryHK
Employees18,000
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)1.14
Shares Outstanding1,970,276,500
10 Day Avg. Volume6,955,160
30 Day Avg. Volume7,477,362
Financial Highlights & Ratios
PEG Ratio-0.39
Price to Book (P/B)1.13
Price to Sales (P/S)1.49
P/FCF Ratio22.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$12.65Price Target Upside44.27% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.54
Revenue Forecast (FY)HK$12.36B
The United Laboratories International Holdings Business Overview & Revenue Model
Company Description
The United Laboratories International Holdings Limited functions as an investment holding company with a primary focus on the pharmaceutical sector. Its multifaceted operations cover the entire lifecycle of drug development and commercialization, ...
How the Company Makes Money
The company primarily makes money by selling pharmaceutical products and pharmaceutical-related materials through two main business streams: (1) Finished dosage pharmaceuticals: revenue is generated from the manufacture and sale of branded and/or ...
The United Laboratories International Holdings Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.21B | 13.76B | 13.74B | 11.33B | 9.70B |
| Gross Profit | 5.51B | 6.08B | 6.33B | 4.97B | 4.21B |
| EBITDA | 2.83B | 3.35B | 3.98B | 2.54B | 1.98B |
| Net Income | 2.09B | 2.66B | 2.70B | 1.58B | 988.10M |
Balance Sheet | |||||
| Total Assets | 30.91B | 25.83B | 21.02B | 18.98B | 16.33B |
| Cash, Cash Equivalents and Short-Term Investments | 11.24B | 6.33B | 4.26B | 4.74B | 3.33B |
| Total Debt | 4.99B | 3.16B | 1.50B | 2.46B | 1.84B |
| Total Liabilities | 13.34B | 11.40B | 8.27B | 8.37B | 6.99B |
| Stockholders Equity | 17.40B | 14.39B | 12.73B | 10.61B | 9.34B |
Cash Flow | |||||
| Free Cash Flow | 855.45M | 1.33B | 977.50M | 1.25B | 1.06B |
| Operating Cash Flow | 3.75B | 3.20B | 2.44B | 2.03B | 1.54B |
| Investing Cash Flow | -2.17B | -1.73B | -1.56B | -594.92M | -587.22M |
| Financing Cash Flow | 2.78B | 596.91M | -1.36B | -24.17M | -620.93M |
The United Laboratories International Holdings Technical Analysis
Negative
8.77
Price Trends
8.91
Negative
8.83
Negative
10.15
Negative
Market Momentum
-0.17
Positive
34.05
Neutral
45.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3933, the sentiment is Negative. The current price of 8.77 is above the 20-day moving average (MA) of 8.58, below the 50-day MA of 8.91, and below the 200-day MA of 10.15, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 34.05 is Neutral, neither overbought nor oversold. The STOCH value of 45.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3933.
The United Laboratories International Holdings Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | HK$10.81B | 8.16 | 25.10% | 5.93% | 15.05% | 20.58% | |
70 Outperform | HK$16.68B | 25.04 | 3.09% | 3.68% | -12.86% | -83.10% | |
69 Neutral | HK$25.17B | 14.44 | 11.97% | 7.89% | -5.90% | -18.84% | |
68 Neutral | HK$28.05B | 5.73 | 7.92% | 5.57% | 7.94% | 52.83% | |
61 Neutral | HK$27.27B | 15.02 | 8.60% | 3.16% | 14.80% | -2.88% | |
60 Neutral | HK$17.73B | 15.09 | 6.61% | 3.50% | 7.35% | -45.49% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
HK:3933
The United Laboratories International Holdings
8.14
-7.90
-49.28%
HK:0867
China Medical System Holdings
10.88
-3.64
-25.09%
HK:1513
Livzon Pharmaceutical Group
20.82
-13.65
-39.61%
HK:3320
China Resources Pharmaceutical Group Ltd.
4.30
-0.41
-8.78%
HK:1681
Consun Pharmaceutical Group Ltd.
13.16
-2.22
-14.42%
HK:0512
Grand Pharmaceutical Group Limited
4.84
-3.77
-43.79%
The United Laboratories International Holdings Corporate Events
United Laboratories Advances UBT251 Into Phase III Diabetes Trials in China
Sep 7, 2026
The United Laboratories International Holdings Limited has dosed the first participant in a Phase III clinical study in China for UBT251 Injection, a self-developed Class 1 innovative drug for type 2 diabetes. The programme comprises two trials, U...
United Laboratories Begins Phase III Dosing of Obesity Drug UBT251 in China
Sep 4, 2026
The United Laboratories International Holdings announced that the first participant has been dosed in a Phase III randomized, double-blind, placebo-controlled clinical trial in China evaluating UBT251 Injection for overweight and obesity. The stud...
United Laboratories Corrects 2026 Interim Capital Commitments Disclosure
Sep 3, 2026
The United Laboratories International Holdings has issued a clarification to its interim results for the six months ended 30 June 2026, correcting a clerical error related to its capital commitments disclosure. The company now reports that as of 3...
United Laboratories’ Interim Profit Plunges, Interim Dividend Scrapped
Aug 31, 2026
The United Laboratories reported a sharp downturn in interim results for the six months ended 30 June 2026, with revenue falling 18% year-on-year to RMB6.17 billion amid rising cost of sales. Gross profit dropped markedly and the company’s E...
United Laboratories Warns of Sharp First-Half Profit Decline
Aug 19, 2026
The United Laboratories International Holdings Limited, a Hong Kong-listed pharmaceutical manufacturer of intermediates, bulk medicines and finished products, operates across multiple segments of the drug supply chain and maintains licensing partn...
United Laboratories Schedules Board Meeting to Approve 2026 Interim Results
Aug 13, 2026
The United Laboratories International Holdings has scheduled a board meeting for 31 August 2026 to review and approve its interim results for the six months ended 30 June 2026. At the same meeting, the board will also consider declaring an interim...
United Laboratories Wins FDA IND Nod for Novel Obesity and Diabetes Drug
Aug 11, 2026
The United Laboratories International Holdings announced that its wholly owned unit, The United Bio-Technology (Hengqin) Co., Ltd., has received U.S. Food and Drug Administration approval of Investigational New Drug applications for UBT48128 Table...
United Laboratories Secures Novo Nordisk Milestone for Obesity Drug UBT251
Jul 16, 2026
The United Laboratories International Holdings announced that its subsidiary United Biotechnology has received a US$13.5 million milestone payment from Novo Nordisk. The payment relates to progress into a global Phase II clinical trial of UBT251, ...
United Laboratories Wins Approval for New Multi-Dose Eye Drops in China
Jul 14, 2026
The United Laboratories International Holdings Limited has received regulatory approval in China for a new multi-dose specification of its Sodium Hyaluronate Eye Drops, an artificial tears product used to treat corneal and conjunctival epithelial ...
United Laboratories Wins China Approval for New Tadalafil Men’s Health Drug
Jul 2, 2026
The United Laboratories International Holdings has received Chinese regulatory approval to market its Tadalafil Tablets in 5mg, 10mg and 20mg strengths, developed by its wholly owned Zhuhai United Laboratories Zhongshan Branch. The product is a se...
United Laboratories Executive Director Fang Yu Ping to Retire After 30 Years of Service
Jun 30, 2026
The United Laboratories International Holdings Limited announced the retirement of executive director Fang Yu Ping, effective 30 June 2026, marking the end of his 30-year tenure with the Group. Fang, who previously served as vice president and gen...
United Laboratories Sets Out Board and Committee Structure
Jun 30, 2026
The United Laboratories International Holdings Limited has detailed the composition of its board of directors and the allocation of roles across key governance committees. The board comprises four executive directors, led by Chairman Mr. Tsoi Hoi ...
United Laboratories Sets Final 2025 Dividend and Payment Timetable
Jun 30, 2026
The United Laboratories International Holdings Limited has declared a final ordinary cash dividend of RMB 0.26 per share for the financial year ended 31 December 2025, following shareholder approval on 23 June 2026. The dividend for Hong Kong shar...
United Laboratories Confirms 2025 Final Dividend and Payment Timetable
Jun 29, 2026
The United Laboratories International Holdings Limited has secured shareholder approval at its annual general meeting for a final dividend of RMB0.26 per share for the financial year ended 31 December 2025, to be paid in Hong Kong dollars. Based o...
United Laboratories Wins Strong Shareholder Backing at 2026 AGM, Approves Dividend and Capital Mandates
Jun 23, 2026
Shareholders of The United Laboratories International Holdings Limited approved all resolutions at the 2026 annual general meeting, including the adoption of the 2025 audited financial statements and the declaration of a final dividend of RMB0.26 ...
United Laboratories Wins China Approval to Start Trials of New Autoimmune Drug TUL321
Jun 11, 2026
The United Laboratories International Holdings has received approval from China’s National Medical Products Administration to begin clinical trials of TUL321 Capsules, a Class 1 new drug developed by its wholly owned subsidiary Zhuhai United...
United Laboratories Plans HK$200 Million Share Buy-Back to Boost Shareholder Value
Jun 11, 2026
The United Laboratories International Holdings has announced a voluntary plan to repurchase up to HK$200 million of its ordinary shares on the open market under an existing general mandate. The repurchased shares will be cancelled and the buy-back...
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.