HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Shanghai Cell Therapy Group / Equity Capital Markets

<ul>
<li>The biggest problem of cell therapy in China is the uncertain prospect of commercialization. Medical practitioners also have reservations regarding the usefulness of cryopreserved cells for clinical application.</li>
<li>Shanghai Cell Therapy could be in a long-term loss making state, and both of its R&amp;D and commercialization capabilities need to be verified. Then, how would investors obtain expected returns?</li>
<li>Post-Investment valuation already reached above RMB7.1 billion after Series D financing. However, market value of comparable companies are quite low, which makes us worry about stock price performance after IPO.</li>
</ul>


The biggest problem of cell therapy in China is the uncertain prospect of commercialization. Medical practitioners also have reservations regarding the usefulness of cryopreserved cells for clinical application.
Shanghai Cell Therapy could be in a long-term loss making state, and both of its R&amp;D and commercialization capabilities need to be verified. Then, how would investors obtain expected returns?
Post-Investment valuation already reached above RMB7.1 billion after Series D financing. However, market value of comparable companies are quite low, which makes us worry about stock price performance after IPO.


Pre-IPO Shanghai Cell Therapy Group - Commercialization Prospects and Profitability Are Pessimistic

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Shanghai Cell Therapy Group (SCT HK)

Pre-IPO Shanghai Cell Therapy Group - Commercialization Prospects and Profitability Are Pessimistic

Shanghai Cell Therapy's complete business layout would drag down the company's turnaround from losses to profits.The disappointing valuation...

Xinyao (Criss) Wang

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