HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Beijing Wantai Biological Phar / Equity Bottom-Up

Beijing Wantai Biological Phar (603392 CH)

By the end of July 13, 2021, the stock price of <a href="https://www.smartkarma.com/entities/beijing-wantai-biological-a" target="_blank" data-smartkarma-citation="entities:30129:1" rel="noopener">Beijing Wantai Biological-A (603392 CH) </a>was closed at RMB279.1/share, up 3090% compared with its IPO price (RMB8.75/share) in April, 2020. Last week, Wantai announced that its wholly-owned IVD subsidiary planned to invest RMB1.336 billion to build a new industrial base. After the completion of the project, it will have a reagent production capacity of 500 million persons per year and a inspection equipment production capacity of 9000 units/year. This insight mainly analyzed the outlook of Wantai’s IVD business and its core HPV vaccine business and the related concerns.

By the end of July 13, 2021, the stock price of Beijing Wantai Biological-A (603392 CH) was closed at RMB279.1/share, up 3090% compared with its IPO price (RMB8.75/share) in April, 2020. Last week, Wantai announced that its wholly-owned IVD subsidiary planned to invest RMB1.336 billion to build a new industrial base. After the completion of the project, it will have a reagent production capacity of 500 million persons per year and a inspection equipment production capacity of 9000 units/year. This insight mainly analyzed the outlook of Wantai’s IVD business and its core HPV vaccine business and the related concerns.

Beijing Wantai Biological (603392.CH) - How to Support Its High Valuation?

Shenzhen Lifotronic Technology-A / Equity Bottom-Up

Shenzhen Lifotronic Technology-A (688389 CH)

Since this year, major shareholders of <a href="https://www.smartkarma.com/entities/shenzhen-lifotronic-techno-a" target="_blank" data-smartkarma-citation="entities:30395:1" rel="noopener">Shenzhen Lifotronic Techno-A (688389 CH)</a> have reduced their holdings by 4.22 million shares, which still hasn't affected the performance of its stock price. Lifotronic’s share price was up about 34.6% by the end of June 11, 2021, thanks to the Company's strong growth. From 2016 to 2020, Lifotronic's revenue increased from RMB175 million to RMB554 million, with a CAGR of 33.47%. The net profit increased from RMB33.4 million (excluding the share-based payment of RMB23.5 million) in 2016 to RMB144 million in 2020, with a CAGR of 44.12%. The operating cash flow increased from RMB28 million in 2016 to RMB136 million in 2020, with a CAGR of 48.57%. Considering Lifotronic’s solid performance for years, this company deserves investors’ following.

Since this year, major shareholders of Shenzhen Lifotronic Techno-A (688389 CH) have reduced their holdings by 4.22 million shares, which still hasn't affected the performance of its stock price. Lifotronic’s share price was up about 34.6% by the end of June 11, 2021, thanks to the Company's strong growth. From 2016 to 2020, Lifotronic's revenue increased from RMB175 million to RMB554 million, with a CAGR of 33.47%. The net profit increased from RMB33.4 million (excluding the share-based payment of RMB23.5 million) in 2016 to RMB144 million in 2020, with a CAGR of 44.12%. The operating cash flow increased from RMB28 million in 2016 to RMB136 million in 2020, with a CAGR of 48.57%. Considering Lifotronic’s solid performance for years, this company deserves investors’ following.

Shenzhen Lifotronic Technology (688389.CH)-A Dark Horse in Both IVD and Therapeutical Medical Device

Recently, <a href="https://www.smartkarma.com/entities/autobio-diagnostics-co-ltd" target="_blank" data-smartkarma-citation="entities:30185:1" rel="noopener">Autobio Diagnostics Co Ltd (603658 CH)</a> released the 2020 and 2021Q1 financial results. In 2020, the revenue was RMB2.98 billion, up 11.15% YoY. Net income was RMB757 million, down 3.79% YoY. In 2021Q1, Autobio achieved revenue of RMB817 million, up 48.44% YoY, and net income was RMB175 million, up 91.23% YoY. Due to the COVID-19, the performance of Autobio was affected in 2020, but the sales recovered gradually quarter by quarter. In 2021Q1, the domestic pandemic was basically stable with occasional regional recurrence, and the frequency of routine diagnosis and treatment in medical institutions recovered to about 80%-90% of the normal situation, so Autobio also achieved a rapid growth. Obviously, the Company is gradually getting rid of the adverse impact brought by COVID-19, and its leading position in IVD (chemiluminescence) has not changed. With the recovery of routine diagnosis and treatment in medical institutions, Autobio's performance is expected to get back on track.

Recently, Autobio Diagnostics Co Ltd (603658 CH) released the 2020 and 2021Q1 financial results. In 2020, the revenue was RMB2.98 billion, up 11.15% YoY. Net income was RMB757 million, down 3.79% YoY. In 2021Q1, Autobio achieved revenue of RMB817 million, up 48.44% YoY, and net income was RMB175 million, up 91.23% YoY. Due to the COVID-19, the performance of Autobio was affected in 2020, but the sales recovered gradually quarter by quarter. In 2021Q1, the domestic pandemic was basically stable with occasional regional recurrence, and the frequency of routine diagnosis and treatment in medical institutions recovered to about 80%-90% of the normal situation, so Autobio also achieved a rapid growth. Obviously, the Company is gradually getting rid of the adverse impact brought by COVID-19, and its leading position in IVD (chemiluminescence) has not changed. With the recovery of routine diagnosis and treatment in medical institutions, Autobio's performance is expected to get back on track.

Autobio Diagnostics (603658.CH) - The Turning Point Is Quietly Approaching

China

Autobio Diagnostics Co., Ltd. manufactures medical reagents and equipment. The Company designs, produces, and sells clinical diagnostic products, rapid test devices, and other related instruments around the world.

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Autobio Diagnostics (603658 CH)

Beijing Wantai Biological (603392.CH) - How to Support Its High Valuation?

This article mainly analyzed Wantai in terms of the two core business IVD and HPV vaccine, their business outlook, the market pattern and the...

Xinyao (Criss) Wang

Shenzhen Lifotronic Technology (688389.CH)-A Dark Horse in Both IVD and Therapeutical Medical Device

This article analyzed "a dark horse" in IVD and therapeutical medical device, Lifotronic, including business analysis, drivers for revenue,...

Xinyao (Criss) Wang

Autobio Diagnostics (603658.CH) - The Turning Point Is Quietly Approaching

This article analyzed Autobio Diagnostics in terms of industry characteristics, business performance, the prospect of centralized procurement on...

Xinyao (Criss) Wang

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