TacticScaleWhat Heilongjiang ZBD Pharmaceutical (珍宝岛) Does & How It Makes Money (603567.SS)
Updated October 2026 · reflects Heilongjiang ZBD Pharmaceutical's latest reported financials
Harbin-based maker of Chinese medicines, biologics and chemical drugs. Most of its revenue comes from selling its own drugs, plus pharmaceutical and Chinese medicinal materials trading.
How Heilongjiang ZBD Pharmaceutical makes money
Most of its revenue comes from selling its own drugs, plus pharmaceutical and Chinese medicinal materials trading. It also earns from contract drug manufacturing, testing and inspection services, laboratory animals and leasing.
What Heilongjiang ZBD Pharmaceutical does
Heilongjiang ZBD Pharmaceutical, founded in 1996 and based in Harbin, is a Chinese drug manufacturer. Its portfolio includes traditional Chinese medicine preparations, biological agents and chemical drugs, covering cardiovascular and cerebrovascular conditions, infections, respiratory illnesses, tumors and viral diseases. Beyond making its own drugs, the company trades pharmaceuticals and Chinese medicinal materials and runs pharmacy retail and wholesale. It also offers contract manufacturing, testing and inspection, online pharmaceutical information services, lab animal production and management, and leasing. Its business spans much of the pharma value chain, from raw herbs to finished medicines.
Products & services
- Traditional Chinese medicine preparations
- Cardiovascular and cerebrovascular drugs
- Anti-infective and antiviral drugs
- Respiratory and oncology drugs
- Chinese medicinal materials trading
- Contract pharmaceutical manufacturing (CMO)
珍宝岛是做什么的？
黑龙江珍宝岛药业股份有限公司成立于1996年，总部位于哈尔滨，是一家中国医药制造企业。公司研发、生产和销售中药制剂、生物制剂及化学药，产品覆盖心脑血管、抗感染、呼吸系统、肿瘤及抗病毒等治疗领域。 除自有药品外，公司还从事药品及中药材贸易、药品批发零售，并提供药品委托生产、检验检测、互联网药品信息服务、实验动物生产与管理以及租赁等业务，业务覆盖从中药材到成品药的多个环节。
What is Heilongjiang ZBD Pharmaceutical worth?
On an owner-earnings DCF, Heilongjiang ZBD Pharmaceutical's most-likely value is about ¥12 versus a recent price near ¥5 (56% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥7) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $5 is below even the no-growth floor ($7); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -3.2%/yr. A bargain only if that pessimism is overdone.
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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