Anhui Shanhe Pharmaceutical Excipients Co., Ltd.
Shanhe Pharmacaps
Shanhe Pharmacaps is China's leading pharmaceutical excipient manufacturer and a rising force in global import substitution, headquartered in Huainan, Anhui Province, China. Founded in 2001, the company generated ¥943 million (≈$130 million) in 2025 revenue with net profit surging 47.84% year-over-year, employing 888 people. Listed on the Shenzhen Stock Exchange (SZSE: 300452), Shanhe has emerged as the premier domestic alternative to Western excipient giants.
Strengths: High-barrier breakthrough — sodium stearyl fumarate and injectable-grade carmellose sodium, previously monopolized by Western firms, now manufactured domestically; world-class certifications — 15+ FDA DMF filings, 11 EU EXCIPACT certifications, and successful FDA on-site inspection in December 2025; explosive export growth — 25%+ year-over-year, demonstrating global competitiveness; 30-50% cost advantage versus European and US counterparts through China's integrated chemical supply chain; strong R&D pipeline continuously expanding into higher-value excipient categories.
Weaknesses: Tiny revenue base (~$130M) compared to multinational competitors like Roquette (€4.9B) and BASF (€59.7B); manufacturing concentration in a single province (Anhui) creates geographic risk; limited biologic drug excipient presence — no significant footprint in lipid nanoparticles or cell culture media.Read MoreShow Less
Strengths: High-barrier breakthrough — sodium stearyl fumarate and injectable-grade carmellose sodium, previously monopolized by Western firms, now manufactured domestically; world-class certifications — 15+ FDA DMF filings, 11 EU EXCIPACT certifications, and successful FDA on-site inspection in December 2025; explosive export growth — 25%+ year-over-year, demonstrating global competitiveness; 30-50% cost advantage versus European and US counterparts through China's integrated chemical supply chain; strong R&D pipeline continuously expanding into higher-value excipient categories.
Weaknesses: Tiny revenue base (~$130M) compared to multinational competitors like Roquette (€4.9B) and BASF (€59.7B); manufacturing concentration in a single province (Anhui) creates geographic risk; limited biologic drug excipient presence — no significant footprint in lipid nanoparticles or cell culture media.
Listed market data
300452 · SZSE · weeklyHistory →- Market cap
- $443 M
- Share price
- CNY 11.33
- 1Y change
- -16.4%
- Recent change
- -0.4%
- IPO price
- +220.0%
- Revenue (TTM)
- ¥943 M (2025)
10-29 → 10-30
CNY 14.96 · from 2015-05-15
Financial history
Full market history- 2026-10CNY 11.33$443 M-14.6%
- 2026-09CNY 13.26$519 M+3.4%
- 2026-08CNY 12.82$502 M+5.6%
- 2026-07CNY 12.14$475 M+3.9%
- 2026-06CNY 11.68$457 M-8.0%
- 2026-05CNY 12.70$497 M-10.0%
- 2026-04CNY 14.11$552 M-5.7%
- 2026-03CNY 14.96$585 M-5.3%
- 2026-02CNY 15.79$618 M+3.3%
- 2026-01CNY 15.29$598 M+14.3%
- 2025-12CNY 13.38$524 M-7.9%
- 2025-11CNY 14.52$568 M—
• Microcrystalline cellulose MCC for direct compression
• Carmellose sodium CMC-Na — injectable and oral grades
• Sodium stearyl fumarate — high-barrier lubricant
• Crospovidone and crosscarmellose sodium — superdisintegrants
Specialty Excipients — High-Growth Segment
• Mannitol and tartaric acid pellet cores
• Polyethylene oxide PEO for controlled-release matrices
• Co-processed excipients for direct compression
Quality Certifications — Global Market Access
• 15+ FDA DMF filings • 11 EU EXCIPACT certifications • cGMP, ISO 9001, ISO 14001
Quick Facts
Headquarters
Huainan, Anhui Province, China
Founded
2001
Employees
888
Revenue
¥943 M (2025)
Market cap
$443 M
Factories
Core production base in Huainan Economic & Technology Development Zone, Anhui; dozens of cGMP-compliant dedicated production lines
Presence
Products exported to dozens of countries worldwide
Listing
Listed — SZSE: 300452Categories
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Data Sources & Methodology
This corporate profile is compiled from publicly available sources including company annual reports, SEC/regulatory filings, official press releases, and verified third-party industry databases. Financial figures reflect the most recent fiscal year disclosures and are cross-validated across multiple independent references.
VerityRank Score is calculated using a proprietary multi-dimensional model evaluating market presence, financial strength, operational scale, innovation capacity, and brand influence. Individual dimension scores are normalized against industry peers and updated quarterly.
Disclaimer: This profile is for informational purposes only. VerityRank makes no warranties regarding completeness or timeliness. This content does not constitute investment advice or endorsement.
Key references: Official Website Listed — SZSE: 300452 , Yicai — Shanhe 2025 Results
East Money — Shanhe Annual Report
Shanhe Pharmacaps Official Website