Sinopharm Group Co Ltd

01099: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$54.40	Dxlcqvq	Qprwlxm

Sinopharm: Reinitiating Coverage on the Largest Chinese Medical Distributor

Yurou Zheng

Feb 14, 2024

We reinitiate coverage of China’s largest pharmaceutical distributor Sinopharm, with a narrow moat rating and fair value estimate of HKD 30.70 per share. We think Sinopharm is undervalued, trading at a 32% discount to our fair value.

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