HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>The State Council decided to support renovation of medical equipment with special refinancing/financial interest subsidy, which has promoting effect in short-term. Investors are advised to look at it dialectically. </li>
<li>The draft for comments on the centralized procurement of liver function biochemical reagents led by Jiangxi was released. The rules are better than the market expected.</li>
<li>We saw some new changes in VBP. For investors, since VBP is inevitable, it is better to accept it - There are still good opportunities in some cases.</li>
</ul>


The State Council decided to support renovation of medical equipment with special refinancing/financial interest subsidy, which has promoting effect in short-term. Investors are advised to look at it dialectically. 
The draft for comments on the centralized procurement of liver function biochemical reagents led by Jiangxi was released. The rules are better than the market expected.
We saw some new changes in VBP. For investors, since VBP is inevitable, it is better to accept it - There are still good opportunities in some cases.


China Healthcare Weekly (Oct.14) - State Finance Discount for Medical Device; IVD VBP; VBP Changes

<ul>
<li>The plunge in medical beauty sector last week was due to the industry-wide overhaul and investigation resulting from the increase in business bribery/tax evasion/medical malpractice/customer complaints.</li>
<li>We found an interesting phenomenon – Investors dare not buy biotech, opting instead for Traditional Chinese Medicine (TCM) companies, scientific research service companies and medical service companies.</li>
<li>If investors still want to trade CXO, here are two suggestions.</li>
</ul>


The plunge in medical beauty sector last week was due to the industry-wide overhaul and investigation resulting from the increase in business bribery/tax evasion/medical malpractice/customer complaints.
We found an interesting phenomenon – Investors dare not buy biotech, opting instead for Traditional Chinese Medicine (TCM) companies, scientific research service companies and medical service companies.
If investors still want to trade CXO, here are two suggestions.


China Healthcare Weekly (Sep.25) - CXO Trading Strategy, Plunge in Medical Beauty, Belief in Biotech

<ul>
<li>Shanghai Municipal Medical Insurance Bureau issued a policy that TAVR consumables would be reimbursed according to surgery performance, breaking the bottleneck of low demand due to the expensive TAVR surgery.</li>
<li>The COVID nucleic acid testing industry faces the problem of exit, because it is very difficult to find a corresponding scale of replacement business for these huge capacity accumulated.</li>
<li>In terms of the internationalization prospects of China biotech companies, we prefer to pick RemeGen. The same logic also applies to Keymed.</li>
</ul>


Shanghai Municipal Medical Insurance Bureau issued a policy that TAVR consumables would be reimbursed according to surgery performance, breaking the bottleneck of low demand due to the expensive TAVR surgery.
The COVID nucleic acid testing industry faces the problem of exit, because it is very difficult to find a corresponding scale of replacement business for these huge capacity accumulated.
In terms of the internationalization prospects of China biotech companies, we prefer to pick RemeGen. The same logic also applies to Keymed.


China Healthcare Weekly (May.27) - New TAVR Policy, Exiting Issue of COVID Testing, RemeGen/Keymed

<ul>
<li>Despite the rational return, the healthcare industry is constantly optimized and adjusted under the guidance of policy and would finally achieve a new balance. So, we are still highly bullish.</li>
<li>We analyzed the investment logic and related investment opportunities in sectors such as medical device, TCM, biotech and CXO.</li>
<li>The valuation of China healthcare sector has entered an attractive range. So, for long-term players, it is recommended to consider to long some high-quality assets at a good cost. </li>
</ul>


Despite the rational return, the healthcare industry is constantly optimized and adjusted under the guidance of policy and would finally achieve a new balance. So, we are still highly bullish.
We analyzed the investment logic and related investment opportunities in sectors such as medical device, TCM, biotech and CXO.
The valuation of China healthcare sector has entered an attractive range. So, for long-term players, it is recommended to consider to long some high-quality assets at a good cost. 


Presentation for Webinar: China Healthcare - Outlook and Opportunities in 2022

<ul>
<li>The expansion of the scope of positioning directly reflects the change in the importance of pharmaceutical industry in the minds of the top level, which is very pivotal.</li>
<li>The determination to abandon old development mode, and promote real innovation and high-quality internationalization remains unchanged. So, companies need to develop at a higher level and a larger stage.</li>
<li>Once achieved, it means that China's pharmaceutical industry will have another radical change after 2015, leading the industry to another new phase of growth.</li>
</ul>


The expansion of the scope of positioning directly reflects the change in the importance of pharmaceutical industry in the minds of the top level, which is very pivotal.
The determination to abandon old development mode, and promote real innovation and high-quality internationalization remains unchanged. So, companies need to develop at a higher level and a larger stage.
Once achieved, it means that China's pharmaceutical industry will have another radical change after 2015, leading the industry to another new phase of growth.


Interpretation of The "14th Five-Year Plan" For the Development of China Pharmaceutical Industry

China

RemeGen is a China-based biopharmaceutical company dedicated to the discovery, development, production, and commercialization of innovative biological drugs. The company focuses on therapeutic antibody drugs, including antibody-drug conjugates (ADCs), antibody fusion proteins, monoclonal antibodies, and bispecific antibodies, for major diseases such as autoimmune disorders, oncology, and ophthalmology. Key products include Telitacicept (RC18) and Disitamab Vedotin (RC48). RemeGen was co-founded in 2008 and is headquartered in Yantai, Shandong Province, China.

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RemeGen (9995 HK)

China Healthcare Weekly (Oct.14) - State Finance Discount for Medical Device; IVD VBP; VBP Changes

The State's finance discount plan for medical device has positive effect. Investors need to view it dialectically; Rule of IVD VBP led by Jiangxi...

Xinyao (Criss) Wang

China Healthcare Weekly (Sep.25) - CXO Trading Strategy, Plunge in Medical Beauty, Belief in Biotech

If investor still want to trade CXO,here are two suggestions; The plunge in medical beauty sector last week was due to industry-wide...

Xinyao (Criss) Wang

China Healthcare Weekly (May.27) - New TAVR Policy, Exiting Issue of COVID Testing, RemeGen/Keymed

New TAVR policy will break the low demand bottleneck due to high cost; COVID testing industry faces the problem of exit; Remegen/Keymed may have...

Xinyao (Criss) Wang

Presentation for Webinar: China Healthcare - Outlook and Opportunities in 2022

We review the important events since 2021H1 and keep bullish on China healthcare outlook.We also analyzed investment logic and opportunities in...

Xinyao (Criss) Wang

Interpretation of The "14th Five-Year Plan" For the Development of China Pharmaceutical Industry

For the newly released "14th Five-year Plan" of China pharmaceutical industry, we analyzed key points and our interpretation. Once achieved, it...

Xinyao (Criss) Wang

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