InnoCare Pharma Ltd. A (688428) Fair Value & Analysis
Healthcare · CN · Market cap 55.5B CNY (≈ $8.3B) · ISIN CNE100005P56
What is InnoCare Pharma Ltd. A really worth?
A solid business, but trading 271% above our fair value of ¥8.56.
Strengths
Risks
Fair value as of: Aug 30, 2026
From 23 valuation models · updated 6 days ago
Share price +18.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (¥9.99). The favourable scenario is already priced in.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
47‑month range ¥7.30 – ¥33.51 · fair‑value band ¥6.02 – ¥9.99 · the ¥31.71 price screens above the ¥8.56 fair value. Dashed = 300-day average. As of Aug 30, 2026.
Analysis
InnoCare Pharma Ltd. A (688428) currently trades at ¥31.71, while our model-based Fair Value estimate is ¥8.56, implying the stock looks roughly 270.5% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Healthcare sector. Bull case: the Growth Earnings group reads highest at a median of ¥16.94 per share, and 0 of the 23 models we run sit above the ¥31.71 price. Bear case: the Asset-Based group reads lowest at ¥2.94, and 23 of the 23 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, InnoCare Pharma Ltd. A generated revenue of 2.5B CNY at a net margin of 29.0%. Revenue grew 38.7% year over year. It earns a return on equity of 10.4%. The stock trades on a trailing P/E of 82.6 (as of Aug 12, 2026). Fundamentals as of Aug 30, 2026
Our scenario range runs from ¥6.02 (bear case) to ¥9.99 (bull case); at ¥31.71, 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 7% below its 52-week high and 64% 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 −73%, 688428 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 ¥0.2572 per share, which is 3.0 % 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 23 models by family
Widest divergence: Growth Earnings (¥16.94) versus Asset-Based (¥2.94). Highest evidence: FCF DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 65
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
InnoCare Pharma Limited, a biopharmaceutical company, engages in discovering, developing, and commercializing drugs for the treatment of cancer and autoimmune diseases in China.
Full company description
InnoCare Pharma Limited, a biopharmaceutical company, engages in discovering, developing, and commercializing drugs for the treatment of cancer and autoimmune diseases in China. The company develops Orelabrutinib, an BTK inhibitor to treat patients with relapsed and/or refractory (r/r) chronic lymphocytic leukemia, r/r mantle cell lymphoma, r/r Waldenstrom's macroglobulinemia, r/r marginal zone lymphoma, r/r diffuse large B-cell lymphoma (DLBCL)- MCD, r/r central nervous system lymphoma, combo w/MIL-62, systemic lupus erythematosus, immune thrombocytopenia purpura, multiple sclerosis, and neuromyelitis optica spectrum disorder. It also developing ICP-B02 to treat CD20+B-cell malignancies; ICP-B05 to treat hemato-oncology; ICP-248 to treat chronic lymphocytic leukemia; ICP-332 to treat atopic dermatitis; ICP-488 to treat psoriasis; ICP-538 to treat autoimmune diseases; zurletrectinib (ICP-723) to treat neurotrophic tyrosine receptor kinase fusion positive cancers; ICP-189 to treat non-small cell lung cancer; and ICP-B05 to treat solid tumor. InnoCare Pharma Limited was incorporated in 2015 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
InnoCare Pharma Ltd. A reported revenue of 2.4B CNY in FY2025 versus 1.0B CNY in FY2021, a compound +22.8%/yr. Reported net income was 642M CNY in FY2025.
688428 screens 271% overvalued. Compare with Vertex Pharmaceuticals Incorporated →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- InnoCare Reports 2026 Interim Results, Sustained Profitability and Key Milestones Achieved
- InnoCare Announces Approval of Head-to-Head Registrational Phase III Trial of Mesutoclax with Azacitidine versus Venetoclax with Azacitidine
- InnoCare Announces Orelabrutinib in Combination with Mesutoclax Granted Breakthrough Therapy Designation in China
- InnoCare Announces Phase II Study Results of TYK2 Inhibitor Soficitinib Meet Primary Endpoint in Patients with Vitiligo
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 30, 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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