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Caixin Global

Articles from Caixin Global

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Equity Bottom-Up

Jinxin Fertility Group  / Equity Bottom-Up

<ul><li>Jinxin Fertility Group Ltd., China’s largest private provider of in vitro fertility (IVF) services, is buying a stake in an Indonesian peer, venturing into Southeast Asia as demand in China declines with more couples opting not to have babies.</li><li>Hong Kong-listed Jinxin Fertility has signed an equity investment deal to become a “significant shareholder” of PT Morula Indonesia, an IVF specialist affiliated with PT Bundamedik Tbk, a major women- and children-focused health care services group in Indonesia, according to a joint statement Monday.</li><li>It did not specify how much capital Jinxin will invest.</li></ul>

Jinxin Fertility Group Ltd., China’s largest private provider of in vitro fertility (IVF) services, is buying a stake in an Indonesian peer, venturing into Southeast Asia as demand in China declines with more couples opting not to have babies.Hong Kong-listed Jinxin Fertility has signed an equity investment deal to become a “significant shareholder” of PT Morula Indonesia, an IVF specialist affiliated with PT Bundamedik Tbk, a major women- and children-focused health care services group in Indonesia, according to a joint statement Monday.It did not specify how much capital Jinxin will invest.

Chinese IVF Specialist Expands Into Southeast Asia With Indonesian Investment 

Research from Asian Century Stocks, Asian Century Stocks

Michael Fritzell

Research from Asian Century Stocks

Providing financial journalism in the Asia-Pacific

Asian Century Stocks

Asian Century Stocks is a newsletter providing financial journalism for companies and stocks in the Asia-Pacific. 
The Asian Century Stocks logotype “百” stands for “one hundred” or a “century”. The economic centre of gravity is moving towards Asia. Yet most global investors are missing out.

Thematic (Sector/Industry)

<ul>
<li>The IVF industry is booming, driven by couples having children later in life as well as infertility problems.</li>
<li>There should be plenty of opportunities for IVF clinic operators, including for Jinxin Fertility which may benefit if the Chinese government introduces subsidies for IVF procedures. But the acquisitive nature of many IVF-related companies has caused their returns on equity and earnings per share growth to be weak.</li>
<li>One stock that trades at a low multiple with fat profit margins is Organon, though be aware of its ongoing patent cliffs, which may be the reason it was spun off in the first place.</li>
</ul>


The IVF industry is booming, driven by couples having children later in life as well as infertility problems.
There should be plenty of opportunities for IVF clinic operators, including for Jinxin Fertility which may benefit if the Chinese government introduces subsidies for IVF procedures. But the acquisitive nature of many IVF-related companies has caused their returns on equity and earnings per share growth to be weak.
One stock that trades at a low multiple with fat profit margins is Organon, though be aware of its ongoing patent cliffs, which may be the reason it was spun off in the first place.


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 the weekly Hong Kong Connect flows with our data engine for holding position as of September 6th.</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 HSI ETF (2800 HK), HSCEI ETF (2828 HK), Li Auto (2015 HK), Tencent (700 HK). </li>
</ul>


We analyze the weekly Hong Kong Connect flows with our data engine for holding position as of September 6th.
The top stocks by inflows and outflows were tabulated for all market, HSCEI, mid cap and s/mid cap groups.
We highlight flows for HSI ETF (2800 HK), HSCEI ETF (2828 HK), Li Auto (2015 HK), Tencent (700 HK). 


Hong Kong Connect Flows (Sep 6th): Inflows into ETF, Li Auto, Tencent

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

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 

China

Jinxin Fertility Group Limited provides assisted reproductive services. The Company offers vitro fertilization services, embryo transfer services, management services, and other services. Jinxin Fertility Group also provides ancillary medical services.

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Jinxin Fertility Group (1951 HK)

Chinese IVF Specialist Expands Into Southeast Asia With Indonesian Investment

Jinxin Fertility Group Ltd. , China’s largest private provider of in vitro fertility (IVF) services, is buying a stake in an Indonesian peer,...

Caixin Global

IVF: Secular Growth for Decades to Come.

The IVF industry is booming, driven by couples having children later in life as well as infertility problems. There should be plenty of...

Asian Century Stocks

Hong Kong Connect Flows (Sep 6th): Inflows into ETF, Li Auto, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for HSI ETF (2800 HK), HSCEI ETF (2828 HK), Li Auto (2015...

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Chinese IVF Specialist Expands Into Southeast Asia With Indonesian Investment

Jinxin Fertility Group Ltd. , China’s largest private provider of in vitro fertility (IVF) services, is buying a stake in an Indonesian peer,...

Caixin Global

IVF: Secular Growth for Decades to Come.

The IVF industry is booming, driven by couples having children later in life as well as infertility problems. There should be plenty of...

Asian Century Stocks

Hong Kong Connect Flows (Sep 6th): Inflows into ETF, Li Auto, Tencent

We analyzed southbound Hong Kong connect flows in the past week and highlighted flows for HSI ETF (2800 HK), HSCEI ETF (2828 HK), Li Auto (2015...

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

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