HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>The first to be affected is the clinical trial projects under way in Ukraine. It’s possible that pharmaceutical companies may lose such a high-quality and low cost clinical trial center. </li>
<li>Ukraine plays an important role in the healthcare supply chain. So, the war would affected both pharmaceutical companies and medical device companies, both directly and indirectly.</li>
<li>The risk to CXO is not completely eliminated. The “cyclical nature” of CRO industry could begin to show. But CDMO is better than CRO in terms of short-term investment opportunities.</li>
</ul>


The first to be affected is the clinical trial projects under way in Ukraine. It’s possible that pharmaceutical companies may lose such a high-quality and low cost clinical trial center. 
Ukraine plays an important role in the healthcare supply chain. So, the war would affected both pharmaceutical companies and medical device companies, both directly and indirectly.
The risk to CXO is not completely eliminated. The “cyclical nature” of CRO industry could begin to show. But CDMO is better than CRO in terms of short-term investment opportunities.


Russia-Ukraine War: The Impact on China Healthcare

<ul>
<li>The successful approval of Legend Biotech's CAR-T therapy indicates the FDA is objective. But we can judge FDA's attitude and globalization logic more clearly through Junshi’s PD-1 result in April.</li>
<li>Let's talk about the cyclical nature of innovative drugs. Humans, they repeat history all the time.</li>
<li>The current pet vaccine market in China is in the blue ocean, with a huge space for growth. This market has become an investment option that cannot be ignored.</li>
</ul>


The successful approval of Legend Biotech's CAR-T therapy indicates the FDA is objective. But we can judge FDA's attitude and globalization logic more clearly through Junshi’s PD-1 result in April.
Let's talk about the cyclical nature of innovative drugs. Humans, they repeat history all the time.
The current pet vaccine market in China is in the blue ocean, with a huge space for growth. This market has become an investment option that cannot be ignored.


China Healthcare Weekly (Mar.4)-Innovative Drug Cyclical Nature, Pet Vaccine Mkt, Legend Bio, Junshi

<ul>
<li>The Beijing municipality has added fertility treatment in its medical insurance program. We analyzed related impact.</li>
<li>If we hope to have more companies entering global TOP50 during “14th Five-Year Plan” period, domestic medical device companies need at least 25% annualized revenue growth to make it happen.</li>
<li>Actually, the national medical insurance doesn't determine market size directly but adjust the “distribution”. There's no need to focus solely on anti-tumor field, but rare diseases and central nervous system diseases.</li>
</ul>


The Beijing municipality has added fertility treatment in its medical insurance program. We analyzed related impact.
If we hope to have more companies entering global TOP50 during “14th Five-Year Plan” period, domestic medical device companies need at least 25% annualized revenue growth to make it happen.
Actually, the national medical insurance doesn't determine market size directly but adjust the “distribution”. There's no need to focus solely on anti-tumor field, but rare diseases and central nervous system diseases.


China Healthcare Weekly (Feb.25)-Assisted Reproduction, Medical Device Co. Globalization, New Growth

Equity Bottom-Up

Huadong Medicine Co Ltd A / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/huadong-medicine-co-ltd-a" target="_blank" data-smartkarma-citation="entities:18522:1" rel="noopener">Huadong Medicine (000963 CH)</a>’s traditional core businesses are facing great pressure due to VBP and medical insurance negotiation, which is difficult for Huadong to establish its long-term core competitiveness.</li>
<li>Despite the fierce competition in medical cosmetology industry, the entry of medical cosmetology equipment field is a wise step, helping Huadong form the most complete layout among competitors.</li>
<li>In terms of whether Huangdong could achieve business transformation successfully, the future performance of medical cosmetology business is the key breakthrough point.</li>
</ul>



Huadong Medicine (000963 CH)’s traditional core businesses are facing great pressure due to VBP and medical insurance negotiation, which is difficult for Huadong to establish its long-term core competitiveness.
Despite the fierce competition in medical cosmetology industry, the entry of medical cosmetology equipment field is a wise step, helping Huadong form the most complete layout among competitors.
In terms of whether Huangdong could achieve business transformation successfully, the future performance of medical cosmetology business is the key breakthrough point.


Huadong Medicine Co Ltd (000963.CH) - The Medical Cosmetology Business Is the Key Breakthrough Point

Bloomage Biotechnology  Lt / Equity Bottom-Up

<ul>
<li>There’re many uncertainties about Imeik’s development strategy, resilience in front of risks and corresponding business performance, which could make it difficult for the market to calmly view the next fluctuation.</li>
<li>Despite lower profit margin, Bloomage is more R&amp;D oriented and characterized by integration of industrial chain,enabling it to establish wider moat and move forward more stably in the long term.</li>
<li>Our view is that <a href="https://www.smartkarma.com/entities/bloomage-biotechnology-corporation-a" target="_blank" data-smartkarma-citation="entities:30390:1" rel="noopener">Bloomage Biotechnology Corporation-A (688363 CH)</a> is expected to have more potential and imagination space than <a href="https://www.smartkarma.com/entities/imeik-technology-development-co-ltd" target="_blank" data-smartkarma-citation="entities:32170:1" rel="noopener">Imeik Technology Development (300896 CH)</a> in the future.</li>
</ul>


There’re many uncertainties about Imeik’s development strategy, resilience in front of risks and corresponding business performance, which could make it difficult for the market to calmly view the next fluctuation.
Despite lower profit margin, Bloomage is more R&amp;D oriented and characterized by integration of industrial chain,enabling it to establish wider moat and move forward more stably in the long term.
Our view is that Bloomage Biotechnology Corporation-A (688363 CH) is expected to have more potential and imagination space than Imeik Technology Development (300896 CH) in the future.


Bloomage Biotechnology (688363.CH) Vs Imeik Technology (300896.CH) - The Logic and the Outlook

China

Huadong Medicine Co., Ltd. wholesales and retails medicines, pharmaceutical preparations, biological products, and medical instruments.  Through its subsidiaries, the Company also manufactures antibiotic medicines and biochemical products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Huadong Medicine Co Ltd A (000963 CH)

Russia-Ukraine War: The Impact on China Healthcare

We analyzed the potential impact of Russia-Ukraine war on China healthcare industry including the delay of clinical trial projects in Ukraine,...

Xinyao (Criss) Wang

China Healthcare Weekly (Mar.4)-Innovative Drug Cyclical Nature, Pet Vaccine Mkt, Legend Bio, Junshi

Junshi’s PD-1 result in April is more representative to judge FDA's attitude and globalization logic. We probably are at the tail end of mab drug...

Xinyao (Criss) Wang

China Healthcare Weekly (Feb.25)-Assisted Reproduction, Medical Device Co. Globalization, New Growth

Assisted reproduction is covered by medical insurance; We analyzed the benchmark of medical device companies' globalization, clarify the...

Xinyao (Criss) Wang

Huadong Medicine Co Ltd (000963.CH) - The Medical Cosmetology Business Is the Key Breakthrough Point

We analyzed the logic of performance decline in terms of Huadong's core business.But the entry of medical cosmetology equipment field is a wise...

Xinyao (Criss) Wang

Bloomage Biotechnology (688363.CH) Vs Imeik Technology (300896.CH) - The Logic and the Outlook

This insight compare the two leading companies in China medical beauty industry Bloomage and Imeik in terms of the difference in positioning,...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)