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Beijing Tong Ren Tang Chinese Medicine Co
(3613)
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Rating:77Outperform
Price Target:
HK$7.50
▲(12.28% Upside)
Action:Upgraded
Date:08/06/26
The score is driven primarily by strong financial quality (high profitability and very low leverage) and supportive valuation (moderate P/E and high dividend yield). These positives are tempered by mixed technicals with the price still below key longer-term moving averages, and by recent fundamental headwinds including the 2025 revenue decline and historically uneven cash-flow conversion.
Positive Factors
Profitability & margins
Consistently high gross and operating margins indicate durable unit economics and pricing power in the core TCM business. Sustained margins underpin long-term cash generation, fund R&D/marketing, and provide resilience to demand cycles, supporting durable profitability over 2–6 months and beyond.
Negative Factors
Weakening revenue growth
An 11.4% revenue decline in 2025 and lower earnings versus prior peaks indicate demand or mix pressure and slower top-line momentum. Sustained revenue weakness can compress future margin leverage, constrain reinvestment, and limit long-term organic growth prospects.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability & margins
Consistently high gross and operating margins indicate durable unit economics and pricing power in the core TCM business. Sustained margins underpin long-term cash generation, fund R&D/marketing, and provide resilience to demand cycles, supporting durable profitability over 2–6 months and beyond.
Read all positive factors
Beijing Tong Ren Tang Chinese Medicine Co (3613) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$5.51B
Dividend Yield5.62%
Average Volume (3M)1.10M
Price to Earnings (P/E)13.7
Beta (1Y)0.71
Revenue Growth-6.10%
EPS Growth-20.60%
CountryHK
Employees780
SectorHealthcare
Sector Strength45
IndustryMedical - Pharmaceuticals
Share Statistics
EPS (TTM)0.47
Shares Outstanding837,100,000
10 Day Avg. Volume975,850
30 Day Avg. Volume1,095,238
Financial Highlights & Ratios
PEG Ratio-0.83
Price to Book (P/B)1.69
Price to Sales (P/S)4.68
P/FCF Ratio8.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$10.50Price Target Upside57.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.6
Revenue Forecast (FY)HK$1.67B
Beijing Tong Ren Tang Chinese Medicine Co Business Overview & Revenue Model
Company Description
Beijing Tong Ren Tang Chinese Medicine Company Limited, encompassing its various affiliates, specializes in the production, distribution, and direct sale of traditional Chinese medicine and wellness items, catering to both corporate distributors a...
How the Company Makes Money
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Beijing Tong Ren Tang Chinese Medicine Co Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.51B | 1.61B | 1.52B | 1.73B | 1.56B |
| Gross Profit | 925.58M | 1.07B | 1.05B | 1.15B | 1.12B |
| EBITDA | 495.52M | 722.32M | 779.54M | 907.63M | 852.81M |
| Net Income | 397.22M | 500.28M | 540.39M | 645.88M | 607.84M |
Balance Sheet | |||||
| Total Assets | 4.66B | 4.56B | 4.43B | 4.23B | 3.83B |
| Cash, Cash Equivalents and Short-Term Investments | 2.28B | 1.82B | 2.38B | 2.24B | 2.28B |
| Total Debt | 126.54M | 123.42M | 131.81M | 103.08M | 128.48M |
| Total Liabilities | 291.88M | 313.09M | 413.75M | 486.49M | 295.48M |
| Stockholders Equity | 4.19B | 4.08B | 3.87B | 3.60B | 3.42B |
Cash Flow | |||||
| Free Cash Flow | 827.05M | -260.42M | 438.96M | 508.94M | 753.74M |
| Operating Cash Flow | 868.23M | -217.25M | 460.83M | 547.44M | 777.17M |
| Investing Cash Flow | -37.73M | 1.35B | -1.08B | 335.41M | -265.73M |
| Financing Cash Flow | -381.05M | -355.30M | -372.18M | -535.42M | -278.65M |
Beijing Tong Ren Tang Chinese Medicine Co Technical Analysis
Negative
6.68
Price Trends
6.65
Negative
6.87
Negative
7.56
Negative
Market Momentum
-0.02
Positive
42.13
Neutral
12.73
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3613, the sentiment is Negative. The current price of 6.68 is below the 20-day moving average (MA) of 6.76, above the 50-day MA of 6.65, and below the 200-day MA of 7.56, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 42.13 is Neutral, neither overbought nor oversold. The STOCH value of 12.73 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3613.
Beijing Tong Ren Tang Chinese Medicine Co Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | HK$5.51B | 13.66 | 12.72% | 5.54% | -6.10% | -20.60% | |
72 Outperform | HK$6.30B | 15.24 | 15.51% | 3.67% | 7.60% | 20.01% | |
64 Neutral | HK$4.26B | 9.22 | 5.41% | 5.88% | -10.79% | -24.52% | |
59 Neutral | HK$9.36B | 38.00 | 5.02% | 4.47% | 5.91% | -40.12% | |
53 Neutral | HK$7.15B | -17.81 | -1.66% | 0.26% | -10.68% | -737.07% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | HK$608.40M | -35.49 | -2.70% | ― | -32.11% | -229.14% |
* Healthcare Sector Average
HK:3613
Beijing Tong Ren Tang Chinese Medicine Co
6.48
-2.24
-25.70%
HK:0570
China Traditional Chinese Medicine Holdings Co
1.41
-0.87
-38.16%
HK:1666
Tong Ren Tang Technologies Co
3.28
-1.74
-34.66%
HK:1643
Modern Chinese Medicine Group Co. Ltd.
0.84
0.15
21.74%
HK:2273
Gushengtang Holdings Limited
26.48
-6.00
-18.47%
HK:0719
Shandong Xinhua Pharmaceutical Company Limited Class H
5.94
-1.87
-23.90%
Beijing Tong Ren Tang Chinese Medicine Co Corporate Events
Beijing Tong Ren Tang Chinese Medicine Shifts to New Product Sales Framework with Controlling Shareholder
Jun 29, 2026
Beijing Tong Ren Tang Chinese Medicine Company Limited has overhauled its transaction framework with controlling shareholder Tong Ren Tang Technologies, shifting from a distribution-focused model in mainland China to a procurement-driven arrangeme...
Beijing Tong Ren Tang Chinese Medicine Wins Strong Shareholder Backing at AGM
Jun 10, 2026
Beijing Tong Ren Tang Chinese Medicine Company Limited reported that all ordinary resolutions at its 10 June 2026 annual general meeting were duly passed, with shareholders representing 619,946,650 shares voting. The meeting approved the 2025 audi...
Beijing Tong Ren Tang Chinese Medicine Wins Hong Kong Approval for New Capsule Product
May 26, 2026
Beijing Tong Ren Tang Chinese Medicine Company Limited has received a Certificate of Registration of Proprietary Chinese Medicine from the Chinese Medicine Council of Hong Kong for its Antelope Horn Powder Capsules under the Tong Ren Tang brand. T...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.