HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>PCR dominates the hospital market, but as targeted drug prices fall, PCR cannot have high pricing,indicating compressing market space. The whole logic goes from "To C " to "To B”.</li>
<li>NGS has advantages in new demand of individualized diagnosis and treatment of difficult diseases and drug efficacy prediction in response to complex mechanisms. It will seize market share from PCR.</li>
<li>A “good story” for related companies should not just focus on PCR (current fundamental), but NGS (long term potential) and may also cover early screening products (multidimensional growth).  </li>
</ul>


PCR dominates the hospital market, but as targeted drug prices fall, PCR cannot have high pricing,indicating compressing market space. The whole logic goes from "To C " to "To B”.
NGS has advantages in new demand of individualized diagnosis and treatment of difficult diseases and drug efficacy prediction in response to complex mechanisms. It will seize market share from PCR.
A “good story” for related companies should not just focus on PCR (current fundamental), but NGS (long term potential) and may also cover early screening products (multidimensional growth).  


Industry Report - Insights on China Companion Diagnostics Market (Business Logic and Outlook)

Compared with developed countries, China's IVD industry started relatively late, and the overall technical level still lags far behind that of developed countries in Europe and America. However, in recent years, with the acceleration of the aging problem and the continuous growth of residents' income, the IVD has become one of the most active and fastest growing industries in China.

Compared with developed countries, China's IVD industry started relatively late, and the overall technical level still lags far behind that of developed countries in Europe and America. However, in recent years, with the acceleration of the aging problem and the continuous growth of residents' income, the IVD has become one of the most active and fastest growing industries in China. 

Industry Report - Insights on China IVD Industry

The genetic testing industry in China is like a rising star – the favorable policy of precision medicine, the increasing industry scale and the long-term optimism about the growth potential from Chinese private equity firms and venture capitals have indicated tremendous opportunities.

The genetic testing industry in China is like a rising star – the favorable policy of precision medicine, the increasing industry scale and the long-term optimism about the growth potential from Chinese private equity firms and venture capitals have indicated tremendous opportunities.  

Insights on China Genetic Testing Industry

1. Industry viewpoints
<ul>
<li>In China, patients are more willing to choose tertiary hospitals than primary and secondary medical institutions. </li>
<li>Internet medicine could be one of the effective solutions to solve the uneven distribution of medical resources. </li>
<li>Since fighting against the epidemic has become a protracted war, related medical devices, diagnostics and vaccines continue to be hot topics in capital markets in China.</li>
</ul>
2. Company news
News of RemeGen, CStone Pharmaceuticals and Xi'an Janssen Pharmaceutical on innovative drugs and strategic cooperation.
3. Market review
During the week, stock price for healthcare sector in A share rose 0.51%, while CSI 300 fell 3.53% over the same period of time.
4. Risk Disclosure 
Policy risk, R&amp;D risk, company risk and COVID-19 risk.

1. Industry viewpoints

In China, patients are more willing to choose tertiary hospitals than primary and secondary medical institutions. 
Internet medicine could be one of the effective solutions to solve the uneven distribution of medical resources. 
Since fighting against the epidemic has become a protracted war, related medical devices, diagnostics and vaccines continue to be hot topics in capital markets in China.

2. Company news
News of RemeGen, CStone Pharmaceuticals and Xi'an Janssen Pharmaceutical on innovative drugs and strategic cooperation.
3. Market review
During the week, stock price for healthcare sector in A share rose 0.51%, while CSI 300 fell 3.53% over the same period of time.
4. Risk Disclosure 
Policy risk, R&amp;D risk, company risk and COVID-19 risk.

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

<ul>
<li>Mirxes, a Singapore-based clinical-stage biotechnology company, launched its IPO to raise up to US$139m via a Hong Kong listing.</li>
<li>We look at the deal dynamics and latest developments in the early cancer screening sector in China.</li>
<li>We are of the view that there's little fundamentals supporting that valuation. Precision oncology companies have not done well in China. </li>
</ul>


Mirxes, a Singapore-based clinical-stage biotechnology company, launched its IPO to raise up to US$139m via a Hong Kong listing.
We look at the deal dynamics and latest developments in the early cancer screening sector in China.
We are of the view that there's little fundamentals supporting that valuation. Precision oncology companies have not done well in China. 


Mirxes IPO: Valuation Without Sensible Fundamentals

China

Burning Rock Biotech Limited operates as a biotech company. The Company discovers and develops diagnositcs solutions for precision medicine in oncology. Burning Rock Biotech serves customers in China.

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

Burning Rock Biotech (BNR US)

Industry Report - Insights on China Companion Diagnostics Market (Business Logic and Outlook)

As targeted drug price fall, logic of companion diagnosis will go from "To C" to "To B".Despite challenges,NGS will be the future trend. A “good...

Xinyao (Criss) Wang

Industry Report - Insights on China IVD Industry

The article analyzed China IVD industry in terms of business mode, trend on efficiency and size of equipment and operation, opportunity in import...

Xinyao (Criss) Wang

Insights on China Genetic Testing Industry

This article analyzed China genetic testing industry in the perspective of favorable policy, market potential, future trend, investment trend in...

Xinyao (Criss) Wang

China Healthcare Weekly (30 Sep)

Industry viewpoints In China, patients are more willing to choose tertiary hospitals than primary and secondary medical institutions. According to...

Xinyao (Criss) Wang

Mirxes IPO: Valuation Without Sensible Fundamentals

Singapore biotech company Mirexes launches IPO in Hong Kong to raise up to $139m, but little fundamentals support the valuation, even in blue sky...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Industry Report - Insights on China Companion Diagnostics Market (Business Logic and Outlook)

As targeted drug price fall, logic of companion diagnosis will go from "To C" to "To B".Despite challenges,NGS will be the future trend. A “good...

Xinyao (Criss) Wang

Industry Report - Insights on China IVD Industry

The article analyzed China IVD industry in terms of business mode, trend on efficiency and size of equipment and operation, opportunity in import...

Xinyao (Criss) Wang

Insights on China Genetic Testing Industry

This article analyzed China genetic testing industry in the perspective of favorable policy, market potential, future trend, investment trend in...

Xinyao (Criss) Wang

China Healthcare Weekly (30 Sep)

Industry viewpoints In China, patients are more willing to choose tertiary hospitals than primary and secondary medical institutions. According to...

Xinyao (Criss) Wang

Mirxes IPO: Valuation Without Sensible Fundamentals

​Singapore biotech company Mirexes launches IPO in Hong Kong to raise up to $139m, but little fundamentals support the valuation, even in blue sky...

Ke Yan, CFA, FRM

Singapore biotech company Mirexes launches IPO in Hong Kong to raise up to $139m, but little fundamentals support the valuation, even in blue sky...