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RemeGen Co (9995) Fair Value & Analysis

Healthcare · HK · Market cap HK$47.7B

RC RemeGen Co 9995 · HK
PriceHK$82.50
Fair ValueHK$21.04
Upside-74.5%
Quality64/100
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Mixed Growth
Highly profitable · 38.2% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/12)
Moderate moat 57/100
Evidence: High Range HK$15.78 – HK$84.16 Share as image

Fair value as of: Aug 13, 2026

From 17 valuation models · updated today

Fair value updated Aug 13, 2026, revised from HK$24.00 to HK$21.04 (−12.3%) since Aug 6, 2026.

A solid business, but screening 75% overvalued on our models.

What matters now

  • The model range is unusually wide (HK$15.78 to HK$84.16). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

HK$127.90 HK$10.62 Fair Value HK$21.04 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$10.62 – HK$127.90 · fair‑value band HK$15.78 – HK$84.16 · the HK$82.50 price screens above the HK$21.04 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

RemeGen Co (9995) currently trades at HK$82.50, while our model-based Fair Value estimate is HK$21.04, implying the stock looks roughly 74.5% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, RemeGen Co generated revenue of HK$3.4B at a net margin of 38.2%. Revenue grew 24.8% year over year. It earns a return on equity of 45.3%. Net debt stands at HK$1.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$15.78 (bear case) to HK$84.16 (bull case); at HK$82.50, the current price sits within 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 35% below its 52-week high and 43% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -47% fair-value upside, at -75%, 9995 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (HK$2.05 to HK$61.27). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income HK$8.84 HK$12.41 HK$67.26 76
ROIC Compounder HK$3.29 HK$3.69 HK$4.05 72
Gordon GGM HK$1.17 HK$2.43 HK$3.85 70
All 17 models by family
DCF Models
Owner Earnings HK$24.48 HK$54.63 HK$117.91 31
Earnings-Based
Graham-Dodd HK$8.79 HK$61.27 HK$85.98 54
Lynch FV HK$31.65 HK$45.22 HK$58.79 50
PEG = 1.0 HK$31.65 HK$45.22 HK$58.79 46
EPV HK$3.29 HK$3.69 HK$4.05 59
Dividend Discount
Gordon GGM HK$1.17 HK$2.43 HK$3.85 70
DDM Multi-Stage HK$1.17 HK$2.05 HK$2.55 61
Multiples
P/E Multiple HK$21.32 HK$28.42 HK$35.53 63
P/S Multiple HK$15.49 HK$20.66 HK$25.82 58
P/B Multiple HK$16.47 HK$21.96 HK$27.46 55
EV/EBIT HK$4.48 HK$5.69 HK$6.90 53
EV/EBITDA HK$9.80 HK$12.79 HK$15.77 54
EV/Revenue HK$3.44 HK$4.55 HK$5.66 43
Asset-Based
NCAV (Graham) HK$3.29 HK$4.40 HK$6.57 50
Economic Profit
Residual Income HK$8.84 HK$12.41 HK$67.26 76
ROIC Compounder HK$3.29 HK$3.69 HK$4.05 72
Growth Earnings
Growth-Adj P/E HK$42.02 HK$60.03 HK$78.04 68

Widest divergence: Growth Earnings (HK$60.03) versus Dividend Discount (HK$2.05). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) HK$3.4B
Revenue growth (YoY) +24.8%
Net margin 38.2%
Return on equity 45.3%
Free cash flow −HK$140M FY2025
P/E ratio 53.7 as of Jul 3, 2026
More key figures
Operating margin -3.4%
EPS (TTM) HK$2.55
Net debt HK$1.0B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 59 · Market factors (momentum, volatility) 53

Profitability 64
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 82
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 57
Distance to the 52-week high (market factor)
Net Issuance 65
Buybacks instead of dilution

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.

About the company

RemeGen Co., Ltd., a biopharmaceutical company, discovers, develops, produces, and commercializes biological drugs for the treatment of autoimmune, oncology, and ophthalmic diseases in Mainland China and the United States.

Full company description

RemeGen Co., Ltd., a biopharmaceutical company, discovers, develops, produces, and commercializes biological drugs for the treatment of autoimmune, oncology, and ophthalmic diseases in Mainland China and the United States. The company offers Telitacicept (RC18) for the treatment of systemic lupus erythematosus (SLE) autoimmune disease, rheumatoid arthritis, and myasthenia gravis; and Disitamab Vedotin (RC48), an antibody drug conjugate for the treatment of gastric cancer, urothelial carcinoma, breast cancer, and other tumors. It also develops products in various stages, including RC-28E, a fusion protein that targets vascular endothelial growth factor (VEGF) and fibroblast growth factor (FGF); RC88, an antibody-drug conjugate (ADC) that targets mesothelin; and RC148, a bispecific antibody ADC drug that in Phase1/2 clinical studies targeting program cell death protein 1 (PD-1) and VEGF; RC278, an ADC drug for the treatment of multiple solid tumors; and RC288, a dual-antibody ADC drug for the treatment of various tumors. The company was founded in 2008 and is headquartered in Yantai, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

RemeGen Co reported revenue of HK$3.2B in FY2025 versus HK$1.4B in FY2021, a compound +22.8%/yr. Reported net income was HK$710M in FY2025, compounding +26.6%/yr from FY2021.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
HK$3.2B
Latest YoY
+88.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+61.6%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+156.5%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+124.4%
Revenue +22.8%/yr
FY21 HK$1.4B
FY22 HK$768M
FY23 HK$1.1B
FY24 HK$1.7B
FY25 HK$3.2B
Net income +26.6%/yr
FY21 HK$276M
FY22 −HK$998M
FY23 −HK$1.5B
FY24 −HK$1.5B
FY25 HK$710M

9995 screens 75% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "RemeGen Co Fair Value". https://www.fairvalue-calculator.com/stock/9995

Peer Group

Biotechnology · 600 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.

Quality Score 64 · Top 25%
Fair Value upside −75% · Bottom 25%
Return on equity (TTM) 45% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 38% · Top 25%
Operating margin (TTM) -3% · Below median
Revenue growth 25% · Above median
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 53.7× · Pricier than 75% of peers
P/B 13.21× · Pricier than 75% of peers
P/S (TTM) 14.10× · Pricier than 75% of peers
EV/EBITDA 78.9× · Pricier than 75% of peers

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 · sector 0
FUTURE 100 · sector 0
PAST 100 · sector 0
HEALTH 90 · sector 97
DIVIDEND 0 · sector 23

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.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $525.73 $278.78 -47%
Regeneron Pharmaceuticals, Inc REGN $797.99 $594.40 -26%
Samsung Biologics Co 207940 1,549,000 KRW 1,055,793 KRW -32%
Celltrion, Inc 068270 202,000 KRW 74,519 KRW -63%
WuXi Biologics (Cayman) Inc 2269 HK$45.70 HK$30.58 -33%
Innovent Biologics, Inc 1801 HK$95.55 HK$19.68 -79%
Genmab A/S GMAB kr 2,037 kr 250.07 -88%
Sino Biopharmaceutical Limited 1177 HK$4.87 HK$3.37 -31%
ALTEOGEN Inc 196170 317,500 KRW 39,476 KRW -88%
Biocon Limited BIOCON ₹427.40 ₹52.10 -88%

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Frequently asked questions

Is RemeGen Co (9995) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$21.04 versus a price of HK$82.50, about −75% (overvalued).
What is the fair value of 9995?
Our model-based fair value for RemeGen Co is HK$21.04 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$82.50.
What is the quality score of 9995?
RemeGen Co has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of RemeGen Co (9995)?
RemeGen Co reported trailing-twelve-month revenue of about HK$3.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9995?
The net profit margin of RemeGen Co is about 38.2%, meaning it keeps roughly 38.2% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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