HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul>
<li>We analyzed both the strength and the concerns about the core and key candidates in the pipeline.</li>
<li>We also analyzed the concerns about the valuation growth potential due to the strategy that <a href="https://www.smartkarma.com/entities/keymed-biosciences-inc" target="_blank" data-smartkarma-citation="entities:33011:1" rel="noopener">Keymed Biosciences Inc (2162 HK)</a> chose.</li>
<li>For trading strategy, opportunities occur when the share price goes down,and then take profits when it goes up, but it is not recommended to hold it for a long time.</li>
</ul>


We analyzed both the strength and the concerns about the core and key candidates in the pipeline.
We also analyzed the concerns about the valuation growth potential due to the strategy that Keymed Biosciences Inc (2162 HK) chose.
For trading strategy, opportunities occur when the share price goes down,and then take profits when it goes up, but it is not recommended to hold it for a long time.


Keymed Biosciences (2162.HK) - The Pipeline, the Concerns on Valuation Growth & The Trading Strategy

<ul>
<li>For development strategy, <a href="https://www.smartkarma.com/entities/alphamab-oncology" target="_blank" data-smartkarma-citation="entities:28213:1" rel="noopener">Alphamab Co Ltd (9966 HK) </a>may lack the foundation of strategic certainty of expectation. It is also not sure about the commercialization performance of KN035 brought by Simcere.</li>
<li>Although the management’s thinking mode of business operation has improved, it still cannot dispel the doubts about whether the Company can catch up with top-level biopharmaceutical enterprises in the future.</li>
<li>Even with the concerns, it does not rule out that investors can long this stock at an undervalued or a reasonable price to get a good return.</li>
</ul>


For development strategy, Alphamab Co Ltd (9966 HK) may lack the foundation of strategic certainty of expectation. It is also not sure about the commercialization performance of KN035 brought by Simcere.
Although the management’s thinking mode of business operation has improved, it still cannot dispel the doubts about whether the Company can catch up with top-level biopharmaceutical enterprises in the future.
Even with the concerns, it does not rule out that investors can long this stock at an undervalued or a reasonable price to get a good return.


Alphamab Co Ltd (9966.HK) - Some Points Worth the Attention

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 10 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Cspc Pharmaceutical(1093 HK), Livzon Pharmaceutical (1513 HK), Xiaomi (1810 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Cspc Pharmaceutical (1093 HK), Xiaomi (1810 HK), Skyworth(751 HK).</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 10 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Cspc Pharmaceutical(1093 HK), Livzon Pharmaceutical (1513 HK), Xiaomi (1810 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Cspc Pharmaceutical (1093 HK), Xiaomi (1810 HK), Skyworth(751 HK).


Sino Biopharmaceutical / Equity Bottom-Up

<ul>
<li>We analyzed the business performance and short-term catalyst for <a href="https://www.smartkarma.com/entities/sino-biopharmaceutical" target="_blank" data-smartkarma-citation="entities:230:1" rel="noopener">Sino Biopharmaceutical (1177 HK),</a> and investors could decide whether to take advantage of it or not.</li>
<li>We also analyzed the concerns about the Company as well as our insights on the valuation of biopharmaceutical companies.</li>
<li>Based on our analysis, we are conservative about the Company’s outlook at the current stage.</li>
</ul>


We analyzed the business performance and short-term catalyst for Sino Biopharmaceutical (1177 HK), and investors could decide whether to take advantage of it or not.
We also analyzed the concerns about the Company as well as our insights on the valuation of biopharmaceutical companies.
Based on our analysis, we are conservative about the Company’s outlook at the current stage.


Sino Biopharmaceutical (1177.HK) - The Business, The Concerns, The Insights on Biopharma Valuation

Global Healthcare Analyst

Tina Banerjee

CSPC Pharmaceutical Group / Equity Bottom-Up

<ul>
<li>With its flagship drug being under substantial price cut, CSPC Pharma is focusing on differentiated and innovative product pipeline and collaboration with leading biotech companies to boost future growth.</li>
<li>CSPC Pharma plans to launch over 30 innovative and over 60 generic drugs during 2021–2025. New products are expected to contribute RMB 1 billion revenue in 2022.</li>
<li>Through November, CSPC announced four business development deals for in-licensing four products targeting multiple therapeutic areas for a combined upfront payment of over RMB 300 million.  </li>
</ul>


With its flagship drug being under substantial price cut, CSPC Pharma is focusing on differentiated and innovative product pipeline and collaboration with leading biotech companies to boost future growth.
CSPC Pharma plans to launch over 30 innovative and over 60 generic drugs during 2021–2025. New products are expected to contribute RMB 1 billion revenue in 2022.
Through November, CSPC announced four business development deals for in-licensing four products targeting multiple therapeutic areas for a combined upfront payment of over RMB 300 million.  


CSPC Pharmaceutical (1093 HK): Oncology Portfolio and Rich Pipeline To Improve Revenue Visibility

China

CSPC Pharmaceutical Group Limited, through its subsidiaries, manufactures and sells pharmaceutical products.  The Company's products include vitamin C, antibiotics and common generic drugs. The Company is also engages in the development of innovative drugs and antibiotics.

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CSPC Pharmaceutical Group (1093 HK)

Keymed Biosciences (2162.HK) - The Pipeline, the Concerns on Valuation Growth & The Trading Strategy

This article mainly analyzed Keymed in terms of the business, the core and key candidates in the pipeline, the concerns about valuation growth...

Xinyao (Criss) Wang

Alphamab Co Ltd (9966.HK) - Some Points Worth the Attention

The article analyzed Alphamab Oncology in terms of its conservativeness on business operation and decision making in early stages, the concerns on...

Xinyao (Criss) Wang

Hong Kong Buybacks: CSPC, Livzon, Xiaomi

We highlight the top 3 companies that repurchased the most shares in HK were CSPC Pharmaceutical (1093 HK), Livzon Pharmaceutical (1513 HK), and...

Ke Yan, CFA, FRM

Sino Biopharmaceutical (1177.HK) - The Business, The Concerns, The Insights on Biopharma Valuation

This article analyzed Sino Biopharmaceutical in terms of the business performance, short-term catalyst, concerns about the outlook, and insights on...

Xinyao (Criss) Wang

CSPC Pharmaceutical (1093 HK): Oncology Portfolio and Rich Pipeline To Improve Revenue Visibility

Over the next five years, the company is expected to have 35 innovative and 60 generic drugs on the market, which will provide steady revenue stream

Tina Banerjee

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