← Cheng Du Sheng Nuo Biotec Co. Ltd. A overview

Cheng Du Sheng Nuo Biotec Co. Ltd. A vs Sichuan Kelun Pharmaceutical: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Cheng Du Sheng Nuo Biotec Co. Ltd. A (688117.CG)

Q3 202612 Jul – 9 Oct 2026

▲3▼1

Strong first-half growth, then a bid-rigging charge clouds the outlook

First-half profit and revenue jumped about 50% Shengnuo Bio's first-half net profit rose 52% to 135 million yuan and revenue rose 50.3% to 507 million yuan, with second-quarter growth even faster. This shows the peptide drug business is expanding strongly, which supports a higher share price.
The half-year report is the core new fundamental event that confirms rapid earnings growth.
Profit growth was backed by real cash and steady margins Operating cash flow rose 6.8% to 87 million yuan, gross margin stayed high at 58.7%, and return on equity was 11.8%. Cash-backed profit and healthy margins make the growth more believable and reduce the risk of a sharp negative reaction.
It explains why the earnings growth is credible and not just accounting noise.
Subsidiary and controller indicted for bid-rigging A wholly owned subsidiary and the actual controller were indicted for colluding in national drug procurement bidding. The company already set aside 10.98 million yuan and expects fines that could cut future profit, and the case creates uncertainty about future sales of its finished drugs.
This is the main new risk that can push the share price down and offset the strong earnings.
Early profit forecast set expectations for strong growth In July the company guided first-half net profit to rise 43% to 65% year on year. That early signal prepared investors for the strong result and helped support the stock before the full report arrived.
It shows the market was already told growth would be strong, which frames the later report.

August 202612 Jul – 9 Oct 2026

▲3▼1

Strong first-half growth, then a bid-rigging charge clouds the outlook

First-half profit and revenue jumped about 50% Shengnuo Bio's first-half net profit rose 52% to 135 million yuan and revenue rose 50.3% to 507 million yuan, with second-quarter growth even faster. This shows the peptide drug business is expanding strongly, which supports a higher share price.
The half-year report is the core new fundamental event that confirms rapid earnings growth.
Profit growth was backed by real cash and steady margins Operating cash flow rose 6.8% to 87 million yuan, gross margin stayed high at 58.7%, and return on equity was 11.8%. Cash-backed profit and healthy margins make the growth more believable and reduce the risk of a sharp negative reaction.
It explains why the earnings growth is credible and not just accounting noise.
Subsidiary and controller indicted for bid-rigging A wholly owned subsidiary and the actual controller were indicted for colluding in national drug procurement bidding. The company already set aside 10.98 million yuan and expects fines that could cut future profit, and the case creates uncertainty about future sales of its finished drugs.
This is the main new risk that can push the share price down and offset the strong earnings.
Early profit forecast set expectations for strong growth In July the company guided first-half net profit to rise 43% to 65% year on year. That early signal prepared investors for the strong result and helped support the stock before the full report arrived.
It shows the market was already told growth would be strong, which frames the later report.

Latest12 Jul – 9 Oct 2026

▲3▼1

Strong first-half growth, then a bid-rigging charge clouds the outlook

First-half profit and revenue jumped about 50% Shengnuo Bio's first-half net profit rose 52% to 135 million yuan and revenue rose 50.3% to 507 million yuan, with second-quarter growth even faster. This shows the peptide drug business is expanding strongly, which supports a higher share price.
The half-year report is the core new fundamental event that confirms rapid earnings growth.
Profit growth was backed by real cash and steady margins Operating cash flow rose 6.8% to 87 million yuan, gross margin stayed high at 58.7%, and return on equity was 11.8%. Cash-backed profit and healthy margins make the growth more believable and reduce the risk of a sharp negative reaction.
It explains why the earnings growth is credible and not just accounting noise.
Subsidiary and controller indicted for bid-rigging A wholly owned subsidiary and the actual controller were indicted for colluding in national drug procurement bidding. The company already set aside 10.98 million yuan and expects fines that could cut future profit, and the case creates uncertainty about future sales of its finished drugs.
This is the main new risk that can push the share price down and offset the strong earnings.
Early profit forecast set expectations for strong growth In July the company guided first-half net profit to rise 43% to 65% year on year. That early signal prepared investors for the strong result and helped support the stock before the full report arrived.
It shows the market was already told growth would be strong, which frames the later report.

Sichuan Kelun Pharmaceutical Co Ltd (002422.CS)

Q3 202627 Jul – 8 Oct 2026

▲3▼1

Kelun's profit rises on drug wins and buybacks, but bribery claim and pledges weigh

New ADC drug enters clinical trials A Kelun subsidiary won Chinese approval to start human testing of SKB565, a new dual-payload ADC for advanced solid tumors. It is the first of its kind from Kelun Biotech, and success could add a valuable future growth engine, though it is years from sales.
Shows pipeline progress that can lift long-term growth expectations for the stock.
National procurement wins boost sales outlook Kelun and its units won tentative selection for more than ten products in China's 12th national bulk-buy drug round, including heart and cancer medicines. Winning means guaranteed hospital sales volumes, supporting revenue even if prices are lower.
Directly increases expected product demand and market share, a core earnings driver.
Profit grows and dividend plus buyback support stock First-half net profit rose 12.7% to 1.128 billion yuan, with second-quarter profit up 48% from the prior quarter, despite slightly lower revenue. The company also plans a cash dividend and has been buying back shares, signaling confidence and returning cash to holders.
Earnings growth and shareholder returns are the main fundamental supports for the share price.
Bribery claim and owner pledges create risk A whistleblower letter alleged commercial bribery tied to a key Kelun drug; the subsidiary denies it and threatens legal action. Separately, controlling shareholder Liu Gexin added to pledged shares for personal funding. Both raise uncertainty and could pressure the stock if they worsen.
These are the main counterweights that could hurt sentiment and valuation.

September 202627 Jul – 8 Oct 2026

▲3▼1

Kelun's profit rises on drug wins and buybacks, but bribery claim and pledges weigh

New ADC drug enters clinical trials A Kelun subsidiary won Chinese approval to start human testing of SKB565, a new dual-payload ADC for advanced solid tumors. It is the first of its kind from Kelun Biotech, and success could add a valuable future growth engine, though it is years from sales.
Shows pipeline progress that can lift long-term growth expectations for the stock.
National procurement wins boost sales outlook Kelun and its units won tentative selection for more than ten products in China's 12th national bulk-buy drug round, including heart and cancer medicines. Winning means guaranteed hospital sales volumes, supporting revenue even if prices are lower.
Directly increases expected product demand and market share, a core earnings driver.
Profit grows and dividend plus buyback support stock First-half net profit rose 12.7% to 1.128 billion yuan, with second-quarter profit up 48% from the prior quarter, despite slightly lower revenue. The company also plans a cash dividend and has been buying back shares, signaling confidence and returning cash to holders.
Earnings growth and shareholder returns are the main fundamental supports for the share price.
Bribery claim and owner pledges create risk A whistleblower letter alleged commercial bribery tied to a key Kelun drug; the subsidiary denies it and threatens legal action. Separately, controlling shareholder Liu Gexin added to pledged shares for personal funding. Both raise uncertainty and could pressure the stock if they worsen.
These are the main counterweights that could hurt sentiment and valuation.

Latest27 Jul – 8 Oct 2026

▲3▼1

Kelun's profit rises on drug wins and buybacks, but bribery claim and pledges weigh

New ADC drug enters clinical trials A Kelun subsidiary won Chinese approval to start human testing of SKB565, a new dual-payload ADC for advanced solid tumors. It is the first of its kind from Kelun Biotech, and success could add a valuable future growth engine, though it is years from sales.
Shows pipeline progress that can lift long-term growth expectations for the stock.
National procurement wins boost sales outlook Kelun and its units won tentative selection for more than ten products in China's 12th national bulk-buy drug round, including heart and cancer medicines. Winning means guaranteed hospital sales volumes, supporting revenue even if prices are lower.
Directly increases expected product demand and market share, a core earnings driver.
Profit grows and dividend plus buyback support stock First-half net profit rose 12.7% to 1.128 billion yuan, with second-quarter profit up 48% from the prior quarter, despite slightly lower revenue. The company also plans a cash dividend and has been buying back shares, signaling confidence and returning cash to holders.
Earnings growth and shareholder returns are the main fundamental supports for the share price.
Bribery claim and owner pledges create risk A whistleblower letter alleged commercial bribery tied to a key Kelun drug; the subsidiary denies it and threatens legal action. Separately, controlling shareholder Liu Gexin added to pledged shares for personal funding. Both raise uncertainty and could pressure the stock if they worsen.
These are the main counterweights that could hurt sentiment and valuation.