TacticScaleWhat Xiamen Amoytop Biotech (特宝生物) Does & How It Makes Money (688278.SS)
Updated October 2026 · reflects Xiamen Amoytop Biotech's latest reported financials
Chinese biotech making recombinant protein drugs for hepatitis and cancer care. The company earns most of its revenue by selling prescription injectable protein drugs in China and abroad.
How Xiamen Amoytop Biotech makes money
The company earns most of its revenue by selling prescription injectable protein drugs in China and abroad. It also sells active pharmaceutical ingredients (APIs) and reagents.
What Xiamen Amoytop Biotech does
Xiamen Amoytop Biotech is a Chinese biopharmaceutical company founded in 1996. It focuses on recombinant protein drugs, which are medicines made by engineering cells to produce therapeutic proteins. It handles research and development, manufacturing and sales itself, and sells in China and internationally. Its portfolio targets viral hepatitis, malignant tumors and immunotherapy. Products include pegsomatropin, a long-acting pegylated growth hormone. It also sells blood-cell-stimulating drugs: pegfilgrastim, filgrastim, molgramostim and oprelvekin, which are commonly used in cancer supportive care. Beyond finished drugs, it also sells APIs and reagents.
Products & services
- Pegsomatropin injection
- Pegfilgrastim injection
- Molgramostim
- Filgrastim
- Oprelvekin
- Active pharmaceutical ingredients (APIs) and reagents
特宝生物是做什么的？
特宝生物（厦门特宝生物工程股份有限公司）成立于1996年，总部位于厦门，是一家专注于重组蛋白药物的生物制药企业。公司自主完成药物的研发、生产和销售，业务覆盖中国及海外市场。 公司产品主要用于病毒性肝炎、恶性肿瘤和免疫治疗等领域。主要产品有聚乙二醇化长效生长激素（培索马曲），以及多种促进血细胞生成的药物：聚乙二醇化重组人粒细胞刺激因子、重组人粒细胞刺激因子、重组人粒细胞巨噬细胞刺激因子和重组人白介素-11。此外，公司还销售原料药和试剂。
What is Xiamen Amoytop Biotech worth?
On an owner-earnings DCF, Xiamen Amoytop Biotech's most-likely value is about ¥30 versus a recent price near ¥50 (64% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥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.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
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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