TacticScaleWhat CSPC Pharmaceutical Does & How It Makes Money (1093.HK)
Updated October 2026 · reflects CSPC Pharmaceutical's latest reported financials
Chinese drugmaker selling branded medicines, bulk APIs, and functional foods. It earns most of its revenue by selling branded finished drugs, mainly in Mainland China and also abroad.
How CSPC Pharmaceutical makes money
It earns most of its revenue by selling branded finished drugs, mainly in Mainland China and also abroad. It also sells bulk active pharmaceutical ingredients (antibiotics, vitamin C, caffeine), functional food products and healthcare services.
What CSPC Pharmaceutical does
CSPC Pharmaceutical Group, headquartered in Shijiazhuang, is a Hong Kong-listed Chinese drugmaker incorporated in 1992 and known as China Pharmaceutical Group until 2013. It has three segments: Finished Drugs, Bulk Products, and Functional Food and Others. Its finished-drug range covers neurology (NBP for acute ischemic stroke, Oulaining, Enxi for Parkinson's), oncology (Duomeisu, Jinyouli, Keaili), anti-infectives, cardiovascular (Xuanning, Encun), diabetes, osteoporosis and pain. Beyond branded medicines, CSPC supplies bulk APIs including antibiotics, vitamin C and caffeine, and sells functional foods and healthcare services. It sells mainly in Mainland China, and also in other Asian markets, Europe and North America. A strategic collaboration with AstraZeneca to discover novel oral drug candidates, including therapies for obesity and type 2 diabetes, points to a growing focus on innovative drugs.
Products & services
- NBP (butylphthalide) soft capsules and injections for stroke
- Duomeisu for lymphoma, myeloma and other cancers
- Jinyouli for preventing chemotherapy-induced infection
- Oulaining for memory impairment
- Vitamin C and caffeine bulk APIs
- Encun for preventing atherosclerotic thrombosis
What is CSPC Pharmaceutical worth?
On an owner-earnings DCF, CSPC Pharmaceutical's most-likely value is about HK$16 versus a recent price near HK$9 (44% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~HK$8) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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