TacticScaleWhat Hansoh Pharmaceutical Does & How It Makes Money (3692.HK)
Updated October 2026 · reflects Hansoh Pharmaceutical's latest reported financials
Chinese pharmaceutical company developing and selling drugs across major therapy areas. It earns revenue mainly by selling its branded pharmaceutical products in China, plus licensing income from out-licensing drug candidates to global partners such as GSK and MSD.
How Hansoh Pharmaceutical makes money
It earns revenue mainly by selling its branded pharmaceutical products in China, plus licensing income from out-licensing drug candidates to global partners such as GSK and MSD.
What Hansoh Pharmaceutical does
Hansoh Pharmaceutical, founded in 1995 and headquartered in Shanghai, develops, makes and sells prescription drugs in China. Its therapy areas include anti-infection, central nervous system, oncology, metabolic diseases and autoimmune diseases. Principal brands include Ameile, Hansoh Xinfu, Xinmei, Hengmu and XINYUE. Beyond selling its own products, Hansoh has out-licensed pipeline assets to global drugmakers. It licensed HS-20089 and HS-20093 to GSK, with HS-20093 aimed at extensive-stage small-cell lung cancer, and it licensed HS-10535, a pre-clinical oral GLP-1 receptor agonist, to MSD. It also has a licence agreement with Biotheus for a bispecific antibody-drug conjugate. The company is a subsidiary of Stellar Infinity Company Ltd.
Products & services
- Ameile
- Hansoh Xinfu
- Xinmei
- Hengmu
- HS-20093 (licensed to GSK)
- HS-10535 oral GLP-1 (licensed to MSD)
What is Hansoh Pharmaceutical worth?
On an owner-earnings DCF, Hansoh Pharmaceutical's most-likely value is about HK$27 versus a recent price near HK$32 (18% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~HK$7) 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 →
Related companies
Huadong Medicine (000963.SZ) · Zhejiang Hisoar Pharmaceutical (002099.SZ) · Beijing Aosaikang Pharmaceutical (002755.SZ) · Shanghai Fosun Pharmaceutical (600196.SS)