Imeik Technology Development Co Ltd Class A 300896

Morningstar Rating

Company Report

Imeik Faces Weaker Demand and Rising Selling Costs

Imeik produces medical aesthetic fillers with two main segments, gel and solution, primarily in China. Historically dominated by foreign brands, domestic brands like Imeik have increased market share as they gain consumer acceptance. Given Imeik’s established brand and distribution network, we expect it to benefit greatly from the growing medical aesthetic penetration in China.

Price vs Fair Value

300896 is trading at a LOCK|<FgF premium.
Price
CN¥95.00
Fair Value
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Uncertainty
LOCK|%^m
1-Star Price
LOCK|z.F
5-Star Price
LOCK|.Qr
Economic Moat
LOCK|>Vv>K
Capital Allocation
LOCK|QnWJQK?

Bulls Say, Bears Say

Bulls

Imeik’s first-mover advantage gave it a stronghold on China’s underpenetrated filler market, positioning it well to capture growing demand, particularly with increased trust in domestic brands.

Bears

Filler demand is cyclical and highly discretionary, resulting in high top-line volatility.

Trading Information

Previous Close Price
—
Day Range
—–—
52-Week Range
—–—
Bid/Ask
— / —
Shares Outstanding
302.59M
Market Cap
—
Volume/Avg
— / —

Key Statistics

Price/Earnings (Normalized)
27.62
Price/Sales
12.09
Dividend Yield (Trailing)
1.89%
Dividend Yield (Forward)
1.89%
Dividend Payment Schedule
Apr, Sep
Total Yield
1.89%

Company Profile

Imeik Technology Development is a leading Chinese medical aesthetics company, best known for its portfolio of hyaluronic acid-based solutions and gel injectable products. Founded in 2004 and headquartered in Beijing, the company has built its reputation on product innovation and a differentiated strategy, enabling it to rank first in China with a market share by value exceeding 20% in 2024. In 2025, Imeik acquired a controlling stake (approximately 60%) in South Korea’s Regen Biotech through a joint venture with an investment fund. Presently, almost all of Imeik’s revenue is derived domestically in China.
Sector
Healthcare
Industry
Medical Instruments & Supplies
Stock Style Box
Mid Core
Total Number of Employees
1,458

Competitors

Valuation

Metric
300896
GALD
ABBV
Price/Earnings (Normalized)
27.6252.3723.91
Price/Book Value
3.635.65—
Price/Sales
12.098.067.16
Price/Cash Flow
27.0739.9419.73
Price/Earnings
300896
GALD
ABBV

Financial Strength

Metric
300896
GALD
ABBV
Quick Ratio
6.810.930.49
Current Ratio
7.611.240.81
Interest Coverage
123.496.843.89
Quick Ratio
300896
GALD
ABBV

Profitability

Metric
300896
GALD
ABBV
Return on Assets (Normalized)
10.15%7.31%14.29%
Return on Equity (Normalized)
11.87%12.07%—
Return on Invested Capital (Normalized)
10.79%10.17%32.02%
Return on Assets
300896
GALD
ABBV

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