B 
Beijing Wantai Biological Pharmacy Enterprise Co 603392.SS · CNY
Health Care · Shanghai · 🇨🇳 China
24.38
-2.09%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥1.82bn
FY2016FY2025
Net income
−CN¥398.3m
FY2016FY2025
Free cash flow
−CN¥715.4m
FY2016FY2025
Shareholders' equity
CN¥11.86bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.82bn | CN¥2.25bn | CN¥5.51bn | CN¥11.19bn | CN¥5.75bn | CN¥2.35bn | CN¥1.18bn | CN¥982.7m | CN¥949.5m | CN¥844.1m |
| Gross profit | CN¥897.1m | CN¥1.38bn | CN¥4.43bn | CN¥9.99bn | CN¥4.90bn | CN¥1.88bn | CN¥833.3m | CN¥699.0m | CN¥655.2m | CN¥608.9m |
| Research and development | CN¥560.8m | CN¥886.1m | CN¥1.20bn | CN¥1.10bn | CN¥681.8m | CN¥314.3m | CN¥166.0m | CN¥138.3m | CN¥158.8m | CN¥130.1m |
| Operating income | −CN¥426.4m | CN¥93.8m | CN¥1.40bn | CN¥5.60bn | CN¥2.33bn | CN¥775.2m | CN¥218.3m | CN¥133.1m | CN¥178.7m | CN¥131.4m |
| Net income | −CN¥398.3m | CN¥106.2m | CN¥1.25bn | CN¥4.74bn | CN¥2.02bn | CN¥677.0m | CN¥208.9m | CN¥293.1m | CN¥150.4m | CN¥148.2m |
| Diluted earnings per share | -0.32 | 0.08 | 1.00 | 3.74 | 1.65 | 0.57 | 0.20 | 0.29 | 0.12 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥14.04bn | CN¥14.69bn | CN¥15.71bn | CN¥16.23bn | CN¥7.05bn | CN¥3.50bn | CN¥2.16bn | CN¥1.81bn | CN¥1.66bn | CN¥1.45bn |
| Cash and short-term investments | — | CN¥4.90bn | CN¥6.27bn | CN¥7.20bn | CN¥1.46bn | CN¥761.0m | CN¥341.6m | CN¥427.4m | CN¥340.7m | CN¥308.7m |
| Total liabilities | CN¥2.01bn | CN¥2.24bn | CN¥2.83bn | CN¥3.66bn | CN¥2.48bn | CN¥923.3m | CN¥584.2m | CN¥444.2m | CN¥756.8m | CN¥494.8m |
| Debt | — | CN¥341.6m | CN¥314.1m | CN¥309.5m | CN¥286.9m | CN¥77.7m | CN¥21.0m | CN¥21.0m | CN¥218.3m | — |
| Shareholders' equity | CN¥11.86bn | CN¥12.26bn | CN¥12.70bn | CN¥12.34bn | CN¥4.47bn | CN¥2.55bn | CN¥1.56bn | CN¥1.35bn | CN¥878.3m | CN¥889.1m |
| Shares outstanding | 1,262m | 1,296m | 1,247m | 1,266m | 1,225m | 1,183m | 1,066m | 1,028m | 1,262m | 1,262m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥89.8m | CN¥355.1m | CN¥1.60bn | CN¥4.13bn | CN¥1.68bn | CN¥468.2m | CN¥272.7m | CN¥208.3m | CN¥147.0m | CN¥129.4m |
| Capital spending | −CN¥805.2m | −CN¥887.3m | −CN¥1.16bn | −CN¥929.9m | −CN¥1.05bn | −CN¥390.4m | −CN¥162.0m | −CN¥246.1m | −CN¥214.7m | −CN¥131.3m |
| Free cash flow | −CN¥715.4m | −CN¥532.3m | CN¥444.4m | CN¥3.20bn | CN¥634.2m | CN¥77.8m | CN¥110.7m | −CN¥37.8m | −CN¥67.7m | −CN¥1.9m |
| Dividends paid | −CN¥2.3m | −CN¥410.2m | −CN¥904.5m | −CN¥121.4m | −CN¥108.4m | −CN¥1.7m | −CN¥1.0m | −CN¥6.3m | −CN¥4.6m | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥525.1m | CN¥523.3m | CN¥320.6m | CN¥654.8m | CN¥442.9m | CN¥400.6m | CN¥297.3m | CN¥582.1m |
| Gross profit | CN¥304.5m | CN¥365.6m | CN¥94.3m | CN¥293.7m | CN¥242.5m | CN¥266.6m | −CN¥20.2m | CN¥420.1m |
| Operating income | −CN¥122.9m | CN¥18.5m | −CN¥208.0m | −CN¥90.8m | −CN¥83.5m | −CN¥55.8m | −CN¥170.6m | −CN¥8.1m |
| Net income | −CN¥85.3m | −CN¥43.0m | −CN¥224.8m | −CN¥29.4m | −CN¥91.3m | −CN¥52.8m | −CN¥160.4m | CN¥6.2m |
| Diluted earnings per share | -0.07 | -0.03 | -0.18 | -0.02 | -0.07 | -0.04 | -0.12 | 0.00 |
| Cash from operations | — | — | — | CN¥127.0m | CN¥19.0m | −CN¥68.0m | — | CN¥91.0m |
| Capital spending | −CN¥114.0m | −CN¥100.0m | −CN¥247.0m | −CN¥125.0m | −CN¥276.0m | −CN¥155.0m | −CN¥182.0m | −CN¥248.0m |
| Free cash flow | — | — | — | CN¥2.0m | −CN¥257.0m | −CN¥223.0m | — | −CN¥157.0m |
| Total assets | CN¥13.71bn | CN¥13.76bn | CN¥14.04bn | CN¥14.37bn | CN¥14.24bn | CN¥14.47bn | CN¥14.69bn | CN¥14.74bn |
| Cash and short-term investments | — | — | — | CN¥3.88bn | CN¥3.85bn | CN¥3.91bn | CN¥4.90bn | CN¥4.85bn |
| Debt | CN¥88.3m | CN¥58.9m | CN¥98.8m | CN¥232.8m | CN¥208.4m | CN¥207.8m | CN¥197.8m | CN¥233.9m |
| Shareholders' equity | CN¥11.74bn | CN¥11.82bn | CN¥11.86bn | CN¥12.09bn | CN¥12.12bn | CN¥12.21bn | CN¥12.26bn | CN¥12.42bn |
Financial ratios
Data as of 17 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 49.3% | 61.4% | 80.3% | 89.3% | 85.2% | 79.9% |
| Operating margin | -23.4% | 4.2% | 25.4% | 50.0% | 40.5% | 32.9% |
| Net margin | -21.9% | 4.7% | 22.6% | 42.3% | 35.2% | 28.8% |
| Return on equity | -3.4% | 0.9% | 9.8% | 38.4% | 45.3% | 26.5% |
| Return on assets | -2.8% | 0.7% | 7.9% | 29.2% | 28.7% | 19.3% |
| Free cash flow yield | 2.8% | 3.8% | 8.9% | 16.0% | 8.9% | 2.9% |
| Revenue growth | -19.0% | -59.3% | -50.7% | 94.5% | 144.3% | 98.9% |
| Earnings growth | -474.9% | -91.5% | -73.7% | 134.3% | 198.6% | 224.1% |
| Current ratio | 4.18x | 4.16x | 3.86x | 3.49x | 1.96x | 2.39x |
| Debt to equity | 0.01x | 0.02x | 0.02x | 0.02x | 0.31x | 0.03x |
| Equity ratio | 84.5% | 83.5% | 80.8% | 76.0% | 63.4% | 72.9% |
| Interest coverage | -66.03x | 11.27x | 174.87x | 664.14x | 374.28x | 376.87x |
| R&D as a share of sales | 30.8% | 39.5% | 21.7% | 9.8% | 11.9% | 13.4% |
| Buybacks as a share of market value | 2.6% | -3.9% | 1.5% | -3.3% | -3.6% | -11.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -45.4% | -5.0% | 10.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 56.0% | 80.4% | 81.3% | 79.9% |
| Operating margin | -8.2% | 32.1% | 33.8% | 31.5% |
| Net margin | -7.2% | 27.4% | 29.1% | 27.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -142.4 | — | 75.1 | 24.2 | 66.1 | 123.9 |
| Price to sales | 31.2 | 40.7 | 17.0 | 10.2 | 23.3 | 35.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 3 Jun 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 0.32 | 1.00 | 0.143 | 0.088 |
- 7-for-5 split · 5 Jun 2023
- 1.208-for-1 split · 21 Apr 2022
- 7-for-5 split · 18 May 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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