China Traditional Chinese Medicine Holdings
Integrated industrial chain for traditional Chinese medicine.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | N/A | Post IPO Equity | |
| Total Funding | 000k | ||
| CNY | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 29 % | (25 %) | 27 % | (9 %) | (2 %) | 3 % | 4 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 19 % | 16 % | 14 % | 10 % | 13 % | 13 % | 13 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 10 % | 5 % | 7 % | - | - | - | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 4 % | 4 % | 4 % | 4 % | - | - | - |
Source: Company filings or news article, Equity research estimates
The story of China Traditional Chinese Medicine Holdings, or China-TCM, is one of consolidation and state-backed ambition. While its corporate history dates back to 1992, its modern identity was forged in becoming the core traditional Chinese medicine (TCM) platform for the state-owned giant, Sinopharm Group. Rather than a tale of scrappy founders, this is a narrative of strategic integration, bringing numerous established brands and capabilities under one enormous umbrella. The company was listed on the Hong Kong Stock Exchange in 1993, a move that provided it with the capital and visibility to grow. Its business operates across the entire TCM value chain, from the cultivation of medicinal herbs to manufacturing and distributing finished products like concentrated TCM granules. This comprehensive model has made it a leader in multiple segments of the domestic Chinese market. A pivotal chapter in the company's journey began in early 2024. A consortium led by its parent, Sinopharm, which already held a significant stake, launched a bid to take China-TCM private. The offer valued the company at nearly $3 billion, representing a significant premium on its stock price and signaling a strategic shift. This move was framed as a response to the company's shares being undervalued on the public market, especially compared to mainland-listed peers. This privatization saga underscores a key theme: the strategic importance of TCM within China's national healthcare ambitions. By bringing China-TCM fully under its control, Sinopharm aims to further consolidate its leadership and streamline the development of this massive industry, moving it from the public markets back into the fold of the state-owned enterprise. While the deal was ultimately cancelled in October 2024, the attempt itself highlights the company's central role in the nation's broader industrial strategy.