Anhui Huangshan Capsule Co., Ltd. (002817.SZ)

Anhui Huangshan Capsule Co., Ltd. (002817.SZ) — VMCI valuation read

Headline read on 002817.SZ: VMCI of 55/100 versus a Healthcare sector median of 50. The 5-point above-median position is what makes Anhui Huangshan Capsule Co., Ltd. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on 002817.SZ: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on 002817.SZ: value (002817.SZ trades at 15.0x earnings, 17% below the Healthcare median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Healthcare median (10.0%)), and risk (net debt to EBITDA of -1.7x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Healthcare 12.0x baseline.

002817.SZ rose 2.7% over the trailing 7 days, with a -18.0% read on a 30-day basis.