Biocytogen Pharms (Beijing) (2315) Fair Value & Analysis
Healthcare · HK · Market cap HK$20.7B (≈ $2.6B)
What is Biocytogen Pharms (Beijing) really worth?
A solid business, but trading 203% above our fair value of HK$19.98.
Strengths
Risks
Fair value as of: Aug 29, 2026
From 24 valuation models · updated 6 days ago
Fair value updated Aug 29, 2026, revised from HK$25.81 to HK$19.98 (−22.6%) since Aug 13, 2026. Share price +8.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (HK$27.64). The favourable scenario is already priced in.
- Solid but not exceptional quality (67/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (HK$13.87 to HK$27.64) leaves room in how you read the outcome.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
48‑month range HK$5.60 – HK$70.25 · fair‑value band HK$13.87 – HK$27.64 · the HK$60.60 price screens above the HK$19.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Biocytogen Pharms (Beijing) (2315) currently trades at HK$60.60, while our model-based Fair Value estimate is HK$19.98, implying the stock looks roughly 203.3% overvalued today. The Quality Score stands at 67/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of HK$28.52 per share, and 0 of the 24 models we run sit above the HK$60.60 price. Bear case: the Asset-Based group reads lowest at HK$4.51, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Biocytogen Pharms (Beijing) generated revenue of HK$1.6B at a net margin of 18.6%. Revenue grew 73.7% year over year. It earns a return on equity of 18.6%. The balance sheet holds a net cash position of HK$979M. Fundamentals as of Aug 29, 2026
Our scenario range runs from HK$13.87 (bear case) to HK$27.64 (bull case); at HK$60.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 14% below its 52-week high and 204% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −59% fair-value upside, at −67%, 2315 screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly HK$0.0812 per share, which is 0.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (HK$28.52) versus Asset-Based (HK$4.51). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 79
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Biocytogen Pharmaceuticals (Beijing) Co., Ltd., a biotechnology company, engages in the research and development of novel antibody-based drugs and pre-clinical research services in the People's Republic of China, the United States, and internationally.
Full company description
Biocytogen Pharmaceuticals (Beijing) Co., Ltd., a biotechnology company, engages in the research and development of novel antibody-based drugs and pre-clinical research services in the People's Republic of China, the United States, and internationally. It operates through five segments: Gene-Editing; Pharmacological Efficacy; Model Animals; Antibody Development; and Other. The company provides the customized gene editing services based on animals and cells to meet the needs of basic science research and drug development of the customers; provides the pre-clinical pharmacology service for drug efficacy and toxicity evaluation; engages in breeding and selling animal models for the external and internal use, including set of genetically engineered mice, disease mouse models and aged small animals; engages un utilizing the Group's own antibody discovery platforms to identify antibodies which have the potential to become drug candidates; and engages in research and development of innovative drugs with a focus on oncology and autoimmune disease therapeutics. The company also offers YH001, a recombinant humanized anti-cytotoxic t-lymphocyte associated protein 4 immunoglobulin G1 (IgG1) monoclonal antibody for the treatment of patients with advanced solid tumors; It also develops YH002, a recombinant humanized IgG1 antibody that targets the human tumor necrosis factor receptor superfamily, member 4 receptor, which is Phase I clinical trial. The company has collaboration with Syncromune, Inc.; a license agreement with RemeGen Co., Ltd.; license agreement with Chipscreen NewWay Biosciences. Biocytogen Pharmaceuticals (Beijing) Co., Ltd. was founded in 2008 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Biocytogen Pharms (Beijing) reported revenue of 1.4B CNY in FY2025 versus 355M CNY in FY2021, a compound +40.4%/yr. Reported net income was 173M CNY in FY2025.
2315 screens 203% overvalued. Compare with Vertex Pharmaceuticals Incorporated →
Peer Group
Biotechnology · 622 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Biotechnology median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $547.55 | $278.78 | −49% |
| Regeneron Pharmaceuticals, Inc REGN | $807.71 | $594.40 | −26% |
| argenx SE ARGX | €877.60 | €292.84 | −67% |
| Samsung Biologics Co 207940 | 1,518,000 KRW | 1,055,793 KRW | −30% |
| CSL Limited CSL | A$174.50 | A$141.68 | −19% |
| Alnylam Pharmaceuticals, Inc ALNY | $228.61 | $51.70 | −77% |
| Royalty Pharma plc RPRX | $60.58 | $24.22 | −60% |
| Celltrion, Inc 068270 | 190,700 KRW | 74,519 KRW | −61% |
| BeOne Medicines AG ONC | $362.51 | $111.35 | −69% |
| BioNTech SE BNTX | $111.40 | $45.66 | −59% |
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