External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>Grifols facing controversy over high debt, aggressive accounting practices, and financial sustainability doubts</li><li>Despite challenges, Grifols is a major player in blood plasma-derived therapies market and has improved margins</li><li>Company generated over EUR700m in free cash flow in 2020, expected to return to positive cash flow in 2025 with decreased costs and slowed growth investments; recent asset sale to reduce debt and new CEO joining to work towards stable financial future</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Grifols facing controversy over high debt, aggressive accounting practices, and financial sustainability doubtsDespite challenges, Grifols is a major player in blood plasma-derived therapies market and has improved marginsCompany generated over EUR700m in free cash flow in 2020, expected to return to positive cash flow in 2025 with decreased costs and slowed growth investments; recent asset sale to reduce debt and new CEO joining to work towards stable financial futureThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Grifols S A (GRFS) - Wednesday, Mar 13, 2024

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>Since mid-February, spreads have not followed a clear pattern across our European liquid universe of ordinary and preferred shares (9 have tightened, 9 widened, 1 remained at same level).</li>
<li>Recommended trades long preferred / short ordinary shares: Danieli, Grifols, Media-for-Europe, Sixt.</li>
<li>Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal, Roche.</li>
</ul>


Since mid-February, spreads have not followed a clear pattern across our European liquid universe of ordinary and preferred shares (9 have tightened, 9 widened, 1 remained at same level).
Recommended trades long preferred / short ordinary shares: Danieli, Grifols, Media-for-Europe, Sixt.
Recommended trades long ordinary / short preferred shares: Fuchs, Henkel, SSAB Svenska Stal, Roche.


Liquid Universe of European Ordinary and Preferred Shares: March‘24 Report

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Shanghai RAAS Blood Products C / Event-Driven

<ul>
<li>Geopolitical risks have led to foreign companies planning to withdraw from China.It’s also difficult to allow foreign companies to control China’s core strategic assets.So, Grifols and RAAS’ “breakup” is inevitable.</li>
<li>This acquisition is an important milestone in the development of Haier’s big health industry. RAAS’s valuation also has room to rise further after being acquire by Haier due to synergies.</li>
<li>In the case of slowing growth in the home appliance market, this is a wise move for Haier.However, potential goodwill impairment in GDS is a risk for Haier/RAAS and investors.</li>
</ul>


Geopolitical risks have led to foreign companies planning to withdraw from China.It’s also difficult to allow foreign companies to control China’s core strategic assets.So, Grifols and RAAS’ “breakup” is inevitable.
This acquisition is an important milestone in the development of Haier’s big health industry. RAAS’s valuation also has room to rise further after being acquire by Haier due to synergies.
In the case of slowing growth in the home appliance market, this is a wise move for Haier.However, potential goodwill impairment in GDS is a risk for Haier/RAAS and investors.


Haier Group to Buy $1.8B Stake in Shanghai RAAS from Grifols – A New Chapter Begins

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/green-cross-corp" target="_blank" data-smartkarma-citation="entities:2969:1" rel="noopener">Green Cross (006280 KS)</a> is currently waiting for marketing approval from the FDA for its immune globulin intravenous injection, which will mark its entry into the U.S. market.</li>
<li>The company will start commercializing its hemophilia A treatment, GreenGene F in China market this year. As a third-generation product, GreenGene is expected to gain substantial market share.</li>
<li>Green Cross shares remained subdued last year, as the company could not finalize a contract manufacturing deal for COVID-19 vaccine.</li>
</ul>



Green Cross (006280 KS) is currently waiting for marketing approval from the FDA for its immune globulin intravenous injection, which will mark its entry into the U.S. market.
The company will start commercializing its hemophilia A treatment, GreenGene F in China market this year. As a third-generation product, GreenGene is expected to gain substantial market share.
Green Cross shares remained subdued last year, as the company could not finalize a contract manufacturing deal for COVID-19 vaccine.


Green Cross (006280 KS): Look Ahead for Key Milestones Amid Covid Vaccine Related Setback

Spain

Grifols S.A. develops, manufactures, and markets plasma derivatives, IV Therapy, enteral nutrition, diagnostic systems, and medical materials.

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Grifols (GRFS US)

Grifols S A (GRFS) - Wednesday, Mar 13, 2024

Grifols, a biopharma company, has faced financial challenges but is making improvements and working towards a more stable future.

Value Investors Club

Liquid Universe of European Ordinary and Preferred Shares: March‘24 Report

Since mid-February, spreads have not followed a clear pattern across our European liquid universe of ordinary and preferred shares (9 have...

Jesus Rodriguez Aguilar

Haier Group to Buy $1.8B Stake in Shanghai RAAS from Grifols – A New Chapter Begins

We analyzed the key points/logic behind Haier's decision to acquire Shanghai RAAS from Grifols. Despite potential risks, it is still a wise move...

Xinyao (Criss) Wang

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Grifols S A (GRFS) - Wednesday, Mar 13, 2024

Grifols, a biopharma company, has faced financial challenges but is making improvements and working towards a more stable future.

Value Investors Club

Liquid Universe of European Ordinary and Preferred Shares: March‘24 Report

Since mid-February, spreads have not followed a clear pattern across our European liquid universe of ordinary and preferred shares (9 have...

Jesus Rodriguez Aguilar

Haier Group to Buy $1.8B Stake in Shanghai RAAS from Grifols – A New Chapter Begins

We analyzed the key points/logic behind Haier's decision to acquire Shanghai RAAS from Grifols. Despite potential risks, it is still a wise move...

Xinyao (Criss) Wang

Green Cross (006280 KS): Look Ahead for Key Milestones Amid Covid Vaccine Related Setback

The company is expected to receive marketing approval in the U.S. for its first immune globulin product next month and start commercialize...

Tina Banerjee