TacticScaleWhat Shenzhen Kangtai Biological Products (康泰生物) Does & How It Makes Money (300601.SZ)
Updated October 2026 · reflects Shenzhen Kangtai Biological Products's latest reported financials
Chinese vaccine maker producing pneumococcal, varicella, hepatitis B and rabies vaccines. Most of its revenue comes from selling vaccines it makes itself to China's immunization system and to export markets.
How Shenzhen Kangtai Biological Products makes money
Most of its revenue comes from selling vaccines it makes itself to China's immunization system and to export markets. It also earns smaller amounts from contract drug manufacturing, logistics, technical services and leasing out its own buildings and equipment.
What Shenzhen Kangtai Biological Products does
Shenzhen Kangtai Biological Products, founded in 1992 and based in Shenzhen, is a Chinese maker of vaccines for people. Its products on the market include 13-valent pneumococcal conjugate and 23-valent pneumococcal polysaccharide vaccines, freeze-dried varicella, hepatitis B, human diploid cell rabies, Hib, measles-rubella, and DTaP-based combination vaccines. It has also sold inactivated and ChAdOx1-S recombinant COVID-19 vaccines. In development are MMR, DTaP-Hib-IPV combination, quadrivalent split influenza, and Sabin-strain inactivated polio vaccines. Besides selling its own vaccines in China and abroad, the company does some contract pharmaceutical manufacturing, logistics and warehousing, technology services, and leasing of its facilities.
Products & services
- 13-valent pneumococcal conjugate vaccine
- 23-valent pneumococcal polysaccharide vaccine
- Freeze-dried varicella vaccine
- Hepatitis B vaccine
- Human diploid cell rabies vaccine
- DTaP-Hib combined vaccine
康泰生物是做什么的？
深圳康泰生物制品股份有限公司成立于1992年，总部位于深圳，专注于人用疫苗的研发、生产和销售。已上市产品包括13价肺炎球菌多糖结合疫苗、23价肺炎球菌多糖疫苗、冻干水痘疫苗、乙肝疫苗、人二倍体细胞狂犬病疫苗、Hib疫苗、麻风联合疫苗及百白破相关联合疫苗，也曾推出灭活及腺病毒载体（ChAdOx1-S）新冠疫苗。 在研产品包括麻腮风疫苗、百白破-Hib-IPV联合疫苗、四价流感裂解疫苗和Sabin株灭活脊髓灰质炎疫苗。除了在国内外销售自产疫苗，公司还经营药品受托生产、货运仓储、技术服务以及自有房屋和设备租赁等业务。
What is Shenzhen Kangtai Biological Products worth?
On an owner-earnings DCF, Shenzhen Kangtai Biological Products's most-likely value is about ¥1 versus a recent price near ¥13 (1656% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥0) with a margin of safety — so the honest verdict here is “Stretched — richly priced.” Fair value earns its keep only at the extremes, not in the wide middle.
Today's $13 is above even the optimistic Bull case ($1) — the market expects faster, longer growth than modeled here. Expensive unless that extra growth actually shows up.
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
Chengdu Kanghua Biological Products (300841.SZ) · Guangdong Taienkang Pharmaceutical (301263.SZ) · Hualan Biological Vaccine (301207.SZ) · Walvax Biotechnology (300142.SZ) · Chongqing Zhifei Biological Products (300122.SZ)