HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Chengdu Olymvax Biopharmaceuticals / Equity Capital Markets

Chengdu Olymvax Biopharmaceuticals (COB HK)

<ul>
<li>Olymvax faces single product risks. The trend of “increasing revenue but no increase in profit” has not been reversed. The actual "gold content" of the meager profits is relatively low.</li>
<li>Controlling shareholders’ reduction in holdings reflect their lack of confidence in the Company, and there could be a mismatch between the Olymvax's real value and its valuation.</li>
<li>Among domestic vaccine companies, CanSino's technology platforms are very valuable, and are above average level, which makes CanSino's pipeline value higher. Valuation of Olymvax could be lower than CanSino.</li>
</ul>


Olymvax faces single product risks. The trend of “increasing revenue but no increase in profit” has not been reversed. The actual "gold content" of the meager profits is relatively low.
Controlling shareholders’ reduction in holdings reflect their lack of confidence in the Company, and there could be a mismatch between the Olymvax's real value and its valuation.
Among domestic vaccine companies, CanSino's technology platforms are very valuable, and are above average level, which makes CanSino's pipeline value higher. Valuation of Olymvax could be lower than CanSino.


Pre-IPO Chengdu Olymvax Biopharmaceuticals (A/H Lising) - Low Profitability Is a Pain Point

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Pre-IPO Chengdu Olymvax Biopharmaceuticals (A/H Lising) - Low Profitability Is a Pain Point

​Olymvax faces profit challenges due to low "gold content" in profits.Controlling shareholders’ reduction in holdings reflect their lack of...

Xinyao (Criss) Wang

Olymvax faces profit challenges due to low "gold content" in profits.Controlling shareholders’ reduction in holdings reflect their lack of...