investorscraft@gmail.com

Stock Analysis & ValuationChengdu Huasun Technology Group Inc., Ltd. (000790.SZ)

Professional Stock Screener
Previous Close
$4.01
Sector Valuation Confidence Level
High
Valuation methodValue, $Upside, %
Artificial intelligence (AI)26.26555
Intrinsic value (DCF)1.84-54
Graham-Dodd Method0.86-79
Graham Formula0.05-99

Strategic Investment Analysis

Company Overview

Chengdu Huasun Technology Group Inc., Ltd. is a diversified Chinese healthcare and industrial company with a unique dual-business model spanning pharmaceuticals and steel structures. Founded in 1998 and headquartered in Chengdu, China, the company operates in two distinct segments: healthcare and industrial manufacturing. In the healthcare sector, Huasun Technology specializes in manufacturing and selling modern Chinese medicines, traditional Chinese medicines, chemical medicines, and bio-pharmaceutical products, with particular focus on cardiovascular and cerebrovascular disease treatments. The company's pharmaceutical division engages in research, development, production, and sale of biological products and biotechnology drugs. Simultaneously, the company maintains a significant industrial operations division that designs, produces, installs, and services steel structure buildings. This diversified approach positions Huasun Technology at the intersection of China's growing healthcare market and infrastructure development sectors. The company, which changed its name from Chengdu Taihe Health Technology Group in April 2020, leverages its established presence in Western China's economic hub to serve both domestic pharmaceutical and construction markets. With operations spanning nearly three decades, Huasun Technology represents a unique investment opportunity combining healthcare innovation with industrial manufacturing capabilities in one of China's fastest-growing regional economies.

Investment Summary

Chengdu Huasun Technology presents a high-risk investment profile characterized by concerning financial metrics and an unconventional business model. The company reported a net loss of CNY 6.69 million for the period despite generating CNY 864 million in revenue, indicating significant profitability challenges. While the company maintains a modest cash position of CNY 209 million, it carries substantial debt of CNY 479 million, creating a leveraged financial structure. The negative EPS of -0.01 and minimal dividend of 0.01 per share further highlight current financial strain. However, positive operating cash flow of CNY 64 million suggests some operational viability. The company's beta of 0.169 indicates lower volatility than the broader market, potentially appealing to risk-averse investors, but the diversified business model spanning pharmaceuticals and steel structures creates operational complexity and may dilute management focus. Investors should carefully assess whether the company can achieve profitability in either business segment before considering investment.

Competitive Analysis

Chengdu Huasun Technology operates in a challenging competitive landscape with distinct disadvantages in both of its business segments. In the pharmaceutical sector, the company faces intense competition from larger, more specialized Chinese pharmaceutical companies that benefit from greater R&D budgets, established distribution networks, and stronger brand recognition. Huasun's focus on cardiovascular and cerebrovascular medicines places it against well-capitalized competitors with deeper clinical expertise and more extensive product portfolios. The company's small market capitalization of approximately CNY 2.53 billion significantly limits its competitive scale compared to industry leaders. In the steel structure business, Huasun competes against specialized construction and engineering firms that typically operate with greater efficiency and technical expertise. The company's dual-business model creates additional competitive disadvantages, as resources are split between two unrelated industries, preventing the focused investment needed to excel in either sector. While Huasun's location in Chengdu provides regional advantages in Western China, this geographic focus may limit national market penetration. The company's negative net income suggests it lacks sustainable competitive advantages in either business, struggling to achieve profitability against more focused competitors. The capital expenditure of CNY -142 million indicates ongoing investment, but whether this will translate into meaningful competitive differentiation remains uncertain given the company's current financial performance and the strength of established players in both industries.

Major Competitors

  • Jiangsu Hengrui Medicine Co., Ltd. (600276.SS): As one of China's largest pharmaceutical companies, Hengrui Medicine dominates the domestic market with extensive R&D capabilities and a broad product portfolio. The company's significant scale and research investment create substantial competitive pressure on smaller players like Huasun Technology. However, Hengrui's focus on innovative drugs rather than traditional Chinese medicines means it competes less directly in Huasun's specific niche segments.
  • Kangmei Pharmaceutical Co., Ltd. (600518.SS): Kangmei specializes in traditional Chinese medicines, making it a more direct competitor to Huasun's pharmaceutical operations. The company has faced significant regulatory and financial challenges in recent years, potentially creating opportunities for smaller competitors. However, Kangmei's established distribution network and brand recognition in TCM still represent competitive threats to Huasun's market position.
  • Sichuan Kelun Pharmaceutical Co., Ltd. (002422.SZ): Based in Sichuan province like Huasun, Kelun Pharmaceutical represents strong regional competition with national reach. The company's focus on intravenous medicines and larger scale creates competitive pressure on Huasun's pharmaceutical business. Kelun's stronger financial position and more focused business model provide advantages in R&D investment and market expansion capabilities.
  • Tasly Pharmaceutical Group Co., Ltd. (600329.SS): Tasly has strong expertise in cardiovascular medicines, directly competing with Huasun's therapeutic focus area. The company's established reputation in this specialty and greater research resources create significant competitive barriers. Tasly's more focused pharmaceutical strategy contrasts with Huasun's diversified approach, potentially yielding better therapeutic development outcomes.
  • China State Construction Engineering Corporation Ltd. (601668.SS): In the steel structure business, Huasun faces competition from construction giants like CSCEC, which have massive scale advantages in engineering and project execution. While not a direct competitor in pharmaceuticals, CSCEC's dominance in construction-related services highlights the competitive challenges Huasun faces in its industrial segment against larger, more specialized firms.
HomeMenuAccount