Global Healthcare Analyst

Tina Banerjee

Thematic (Sector/Industry)

<ul>
<li>Kissei Pharmaceutical initiates additional Phase III clinical trial for Rovatirelin (KPS-0373) for the treatment of spinocerebellar degeneration. Shanghai Junshi Biosciences received 11th indication approval for toripalimab in China.</li>
<li>AstraZeneca Entered into exclusive licensing agreement worth $1.35B with Alteogen to use latter’s hyaluronidase protein, ALT-B4, to develop subcutaneous versions of its “several oncology assets.”</li>
<li>Celltrion Has unveiled “Value-up Program,” whereby the company is targeting 30% revenue CAGR by 2027 to reach KRW5T revenue and 7% ROE. HLB faced another rejection from FDA for rivoceranib.</li>
</ul>


Kissei Pharmaceutical initiates additional Phase III clinical trial for Rovatirelin (KPS-0373) for the treatment of spinocerebellar degeneration. Shanghai Junshi Biosciences received 11th indication approval for toripalimab in China.
AstraZeneca Entered into exclusive licensing agreement worth $1.35B with Alteogen to use latter’s hyaluronidase protein, ALT-B4, to develop subcutaneous versions of its “several oncology assets.”
Celltrion Has unveiled “Value-up Program,” whereby the company is targeting 30% revenue CAGR by 2027 to reach KRW5T revenue and 7% ROE. HLB faced another rejection from FDA for rivoceranib.


APAC Healthcare Weekly (Mar 23)- Kissei, Alteogen, Junshi Biosciences, Celltrion, Lunit, HLB

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

Shenton Research

Shenton 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.

Quantitative Analysis

<ul>
<li>We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 28th.</li>
<li>The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.</li>
<li>We highlight flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Innovent Bio, Minimax, Kuaishou, Ping An.</li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of August 28th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Innovent Bio, Minimax, Kuaishou, Ping An.


HK Connect Flows Weekly (Aug 28th): Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Minimax

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>Entering 2024, more provinces/regions have included assisted reproductive medical service projects into medical insurance reimbursement scope. It is expected that the government will accelerate the introduction of supporting measures ahead.</li>
<li>Livzon’s performance in 2023 was disappointing.For BGI, even if the BIOSECURE Act passes and BGI is sanctioned by the US, the overall impact on the company is limited and controllable.</li>
<li>Jinxin has gradually recovered from the negative impact of COVID-19.With the recovery of international flights and the increase in the number of patients, the Company would be back on track. </li>
</ul>


Entering 2024, more provinces/regions have included assisted reproductive medical service projects into medical insurance reimbursement scope. It is expected that the government will accelerate the introduction of supporting measures ahead.
Livzon’s performance in 2023 was disappointing.For BGI, even if the BIOSECURE Act passes and BGI is sanctioned by the US, the overall impact on the company is limited and controllable.
Jinxin has gradually recovered from the negative impact of COVID-19.With the recovery of international flights and the increase in the number of patients, the Company would be back on track. 


China Population Policies Impact on Healthcare Companies Series – Part 4

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>Local / In Depth: Frugality bites for China’s cash-strapped local governments</li><li>China-U.S. /: Xi and Biden talk by phone on bilateral cooperation and differences</li><li>Trade /: Moscow closes auto export loophole that had been a boon to Chinese traders</li></ul>

Local / In Depth: Frugality bites for China’s cash-strapped local governmentsChina-U.S. /: Xi and Biden talk by phone on bilateral cooperation and differencesTrade /: Moscow closes auto export loophole that had been a boon to Chinese traders

CX Daily: Frugality bites for China’s cash-strapped local governments 

<ul>
<li>Starting from November 1st 2023, Guangxi Zhuang Autonomous Region will include some therapeutic assisted reproductive medical services in the payment scope of basic medical insurance and work-related injury insurance funds.</li>
<li>Livzon’s 23Q3 performance was below expectations, which is related to China’s anti-corruption campaign started from 23H2. Considering the Chairman's proposal to repurchase shares, we should be more patient with Livzon.</li>
<li>BGI is still digesting the impact of COVID revenue, and would experience a performance low point in 2023.However, BGI belongs to the direction of national key science and technology projects.</li>
</ul>


Starting from November 1st 2023, Guangxi Zhuang Autonomous Region will include some therapeutic assisted reproductive medical services in the payment scope of basic medical insurance and work-related injury insurance funds.
Livzon’s 23Q3 performance was below expectations, which is related to China’s anti-corruption campaign started from 23H2. Considering the Chairman's proposal to repurchase shares, we should be more patient with Livzon.
BGI is still digesting the impact of COVID revenue, and would experience a performance low point in 2023.However, BGI belongs to the direction of national key science and technology projects.


China Population Policies Impact on Healthcare Companies Series - Part 3

China

Jinxin Fertility Group is a leading international provider of assisted reproductive services (ARS) and assisted reproductive technology (ART). Its core offerings include In Vitro Fertilization (IVF), Intrauterine Insemination (IUI), egg retrieval, embryo transfer, and genetic screening, alongside a range of women's health services. The company is headquartered in Chengdu, China, and was founded in 1951.

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Jinxin Fertility (1951 HK)

APAC Healthcare Weekly (Mar 23)- Kissei, Alteogen, Junshi Biosciences, Celltrion, Lunit, HLB

Kissei Pharma initiates additional P3 trial. Junshi Biosciences' drug got indication expansion. AstraZeneca partners with Alteogen. Celltrion aims...

Tina Banerjee

HK Connect Flows Weekly (Aug 28th): Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Minimax

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma,...

Ke Yan, CFA, FRM

China Population Policies Impact on Healthcare Companies Series – Part 4

Different provinces expand coverage for assisted reproductive services in medical insurance. Livzon missed expectation in 2023.US sanction on BGI...

Xinyao (Criss) Wang

CX Daily: Frugality bites for China’s cash-strapped local governments

Local / In Depth: Frugality bites for China’s cash-strapped local governments Chinese local governments are gearing up for another tough year and...

Caixin Global

China Population Policies Impact on Healthcare Companies Series - Part 3

We updated the most recent changes in relevant fertility support policies in China. Meanwhile, we also analyzed our views on the performance and...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

APAC Healthcare Weekly (Mar 23)- Kissei, Alteogen, Junshi Biosciences, Celltrion, Lunit, HLB

​Kissei Pharma initiates additional P3 trial. Junshi Biosciences' drug got indication expansion. AstraZeneca partners with Alteogen. Celltrion aims...

Tina Banerjee

HK Connect Flows Weekly (Aug 28th): Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma, Minimax

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for Alibaba, Smic, Hua Hong Semi, Akeso, Yofc, Cspc Pharma,...

Ke Yan, CFA, FRM

China Population Policies Impact on Healthcare Companies Series – Part 4

​Different provinces expand coverage for assisted reproductive services in medical insurance. Livzon missed expectation in 2023.US sanction on BGI...

Xinyao (Criss) Wang

CX Daily: Frugality bites for China’s cash-strapped local governments

Local / In Depth: Frugality bites for China’s cash-strapped local governments Chinese local governments are gearing up for another tough year and...

Caixin Global

China Population Policies Impact on Healthcare Companies Series - Part 3

We updated the most recent changes in relevant fertility support policies in China. Meanwhile, we also analyzed our views on the performance and...

Xinyao (Criss) Wang

Kissei Pharma initiates additional P3 trial. Junshi Biosciences' drug got indication expansion. AstraZeneca partners with Alteogen. Celltrion aims...

Different provinces expand coverage for assisted reproductive services in medical insurance. Livzon missed expectation in 2023.US sanction on BGI...