HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Betters Medical Investment Holdings / Equity Capital Markets

Betters Medical Investment Holdings (BMI HK)

<ul>
<li>The MWA market that Betters belongs to has showed rapid growth and large potential. Obviously, Betters would benefit from it based on its existing products and leading market position.</li>
<li>However, the medical device industry in China is subject to strict policy supervision. It cannot rule out the possibility that the Company’s products would be included in the centralized procurement.</li>
<li>In terms of valuation, <a href="https://www.smartkarma.com/entities/micro-tech-nanjing-co-ltd" target="_blank" data-smartkarma-citation="entities:30320:1" rel="noopener">Micro-Tech Nanjing Co Ltd (688029 CH)</a> could be a comparable company,  but Betters' valuation should be lower than it.</li>
</ul>


The MWA market that Betters belongs to has showed rapid growth and large potential. Obviously, Betters would benefit from it based on its existing products and leading market position.
However, the medical device industry in China is subject to strict policy supervision. It cannot rule out the possibility that the Company’s products would be included in the centralized procurement.
In terms of valuation, Micro-Tech Nanjing Co Ltd (688029 CH) could be a comparable company,  but Betters' valuation should be lower than it.


Pre-IPO Betters Medical Investment Holdings - The Industry, the Business and the Concerns

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

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. / Equity Bottom-Up

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. (600436 CH)

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd.

<ul>
<li>In terms of the business model,the uniqueness and scarcity of Pien Tze Huang keep the market demand at high level,supporting its strong ability to raise prices and establish high moat.</li>
<li>The concerns on single product risk, scare raw materials and inadequate production capacity would cast a shadow over the Company’ future development.</li>
<li>The breakthrough point lies in whether the Company can make use of the unique advantages generated from "Pien Tze Huang" series to cultivate a second strong growth point in time.</li>
</ul>


In terms of the business model,the uniqueness and scarcity of Pien Tze Huang keep the market demand at high level,supporting its strong ability to raise prices and establish high moat.
The concerns on single product risk, scare raw materials and inadequate production capacity would cast a shadow over the Company’ future development.
The breakthrough point lies in whether the Company can make use of the unique advantages generated from "Pien Tze Huang" series to cultivate a second strong growth point in time.


Zhangzhou Pientzehuang Pharmaceutical (600436.CH) - The Strength and the Concerns

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

Beijing Evercare Medical Technology Group / Equity Capital Markets

Beijing Evercare Medical Technology Group (EMT HK)

Beijing Evercare Medical Technology Group

<p>With the innovation of medical beauty technology and consumers' higher standard for their own image, the market demand for aesthetic medical services is increasing. After <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> submitted its prospectus to HKEX, another company in medical beauty industry, <a href="https://www.smartkarma.com/entities/beijing-evercare-medical-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:34189:1" rel="noopener">Beijing Evercare Medical Technology Group (EMT HK)</a>, also officially started its IPO process. Evercare is a leading private aesthetic medical institution group in China. However, if look closely, Evercare is actually facing many challenges, and its outlook may not be optimistic. This insight mainly analyzed the concerns of the Company that worth the investors’ attention.</p>

With the innovation of medical beauty technology and consumers' higher standard for their own image, the market demand for aesthetic medical services is increasing. After Imeik Technology Development (300896 CH) submitted its prospectus to HKEX, another company in medical beauty industry, Beijing Evercare Medical Technology Group (EMT HK), also officially started its IPO process. Evercare is a leading private aesthetic medical institution group in China. However, if look closely, Evercare is actually facing many challenges, and its outlook may not be optimistic. This insight mainly analyzed the concerns of the Company that worth the investors’ attention.

Pre-IPO Beijing Evercare Medical Technology Group - The Outlook May Not Be Optimistic

China

Bloomage Biotechnology Corporation Limited develops and manufactures medical products. The Company produces fillers, mesotherapy products, bio reactive hyaluronic acids, repair soothing skin care products, and other products. Bloomage Biotechnology supplies its products in medicine, cosmetics, food manufacturing companies, medical institutions, and other fields.

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

Bloomage Biotechnology Lt (688363 CH)

Pre-IPO Betters Medical Investment Holdings - The Industry, the Business and the Concerns

The MWA market has great potential and Betters also has leading position.The future potential centralized procurement could be a concern for...

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

Zhangzhou Pientzehuang Pharmaceutical (600436.CH) - The Strength and the Concerns

We analyzed the business model of Pien Tze Huang, which is mainly due to its uniqueness and scarcity that build high moat. But it still has to...

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

Pre-IPO Beijing Evercare Medical Technology Group - The Outlook May Not Be Optimistic

The article analyzed Evercare Medical in terms of the concerns that worth the attention such as the business expansion, the profitability, lack of...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)