Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Simcere Pharmaceutical / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/simcere-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:29186:1" rel="noopener">Simcere Pharmaceutical Group (2096 HK)</a> proposed to spin-off and separately list the shares of Simcere Zaiming, a subsidiary of the company.</li>
<li>Following the completion of the proposed spin-off, Simcere Pharma will have an interest of over 50% in Simcere Zaiming and Zaiming will remain as a subsidiary of the company.</li>
<li>We feel this is a sort of value unlocking and also simultaneously allowing Simcere Zaiming, as an independently listed entity, access to funds for R&amp;D and future growth.  </li>
</ul>



Simcere Pharmaceutical Group (2096 HK) proposed to spin-off and separately list the shares of Simcere Zaiming, a subsidiary of the company.
Following the completion of the proposed spin-off, Simcere Pharma will have an interest of over 50% in Simcere Zaiming and Zaiming will remain as a subsidiary of the company.
We feel this is a sort of value unlocking and also simultaneously allowing Simcere Zaiming, as an independently listed entity, access to funds for R&amp;D and future growth.  


Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

Jiangsu Hengrui Pharmaceuticals / Equity Bottom-Up

Jiangsu Hengrui Pharmaceuticals (1276 HK)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jiangsu-hengrui-pharmaceuticals-co-ltd" target="_blank" data-smartkarma-citation="entities:44224:1" rel="noopener">Jiangsu Hengrui Pharmaceuticals (1276 HK)</a> received approval of Retlirafusp Injection from NMPA. It is first-line treatment of locally advanced unresectable, recurrent or metastatic gastric and gastroesophageal junction adenocarcinoma (PD-L1 positive).</li>
<li>There are no similar approved products for in China and abroad. Merck’s bintrafusp alfa has advanced to Phase III trials, while most other candidates are still in Phase I/II stages.</li>
<li>With Robust R&amp;D and future potential drug candidates under its belt, Jiangsu Hengrui continues to remain an attractive bet, with a long-term perspective.</li>
</ul>



Jiangsu Hengrui Pharmaceuticals (1276 HK) received approval of Retlirafusp Injection from NMPA. It is first-line treatment of locally advanced unresectable, recurrent or metastatic gastric and gastroesophageal junction adenocarcinoma (PD-L1 positive).
There are no similar approved products for in China and abroad. Merck’s bintrafusp alfa has advanced to Phase III trials, while most other candidates are still in Phase I/II stages.
With Robust R&amp;D and future potential drug candidates under its belt, Jiangsu Hengrui continues to remain an attractive bet, with a long-term perspective.


Jiangsu Hengrui (HK 1276): Begins 2026 On a Positive Note With Retlirafusp Approval; More to Follow

<ul>
<li>
<a href="https://www.smartkarma.com/entities/simcere-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:29186:1" rel="noopener">Simcere Pharmaceutical Group (2096 HK)</a> entered into a license agreement with Vigonvita Life Science Co. Ltd in respect of new indications (RSV and HMPV) of VV116 (Deuterated Remdesivir Hydrobromide).</li>
<li>There is no innovative small molecule antiviral drug approved for RSV infection globally. The development of effective RSV treatment represents a huge unmet medical need worldwide.</li>
<li>The licensing deals signed over the last few months alongside strong innovative drug portfolio, approvals and strong future pipeline makes it a bullish case.</li>
</ul>



Simcere Pharmaceutical Group (2096 HK) entered into a license agreement with Vigonvita Life Science Co. Ltd in respect of new indications (RSV and HMPV) of VV116 (Deuterated Remdesivir Hydrobromide).
There is no innovative small molecule antiviral drug approved for RSV infection globally. The development of effective RSV treatment represents a huge unmet medical need worldwide.
The licensing deals signed over the last few months alongside strong innovative drug portfolio, approvals and strong future pipeline makes it a bullish case.


Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Shenzhen Mindray Bio-Medical Electronics / Equity Capital Markets

Shenzhen Mindray Bio-Medical Electronics (300760 CH)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shenzhen-mindray-bio-medic-a" target="_blank" data-smartkarma-citation="entities:28017:1" rel="noopener">Shenzhen Mindray Bio-Medical Electronics (300760 CH)</a> (SMBE), a provider of medical devices, is looking to raise about US$2bn in its upcoming H-share IPO</li>
<li>SMBE is a diversified global medical device enterprise with its products spanning In Vitro Diagnostics (IVD), patient monitoring and life support, medical imaging, along with an emerging business portfolio.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Shenzhen Mindray Bio-Medical Electronics (300760 CH) (SMBE), a provider of medical devices, is looking to raise about US$2bn in its upcoming H-share IPO
SMBE is a diversified global medical device enterprise with its products spanning In Vitro Diagnostics (IVD), patient monitoring and life support, medical imaging, along with an emerging business portfolio.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Shenzhen Mindray Bio-Medical A/H Listing-Strong Track Record but Has Been Suffering Lately

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

DZT Research

DZT 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 analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 62.9% as of Nov 28th.</li>
<li>The average A-H premium changed by -0.9ppt week-on-week, led by industrials, energy and offset by real estate, information technology, communication services.</li>
<li>We highlight weekly changes in A-H premium for Guangzhou Automobile, China Everbright Bank, China Southern Airlines, Cig Shanghai.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 62.9% as of Nov 28th.
The average A-H premium changed by -0.9ppt week-on-week, led by industrials, energy and offset by real estate, information technology, communication services.
We highlight weekly changes in A-H premium for Guangzhou Automobile, China Everbright Bank, China Southern Airlines, Cig Shanghai.


A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

China

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. is a pharmaceutical company. Through its subsidiaries, the Company manufactures genetic medicines, Chinese traditional medicines, diagnostic products, and medical instruments, provides technology, marketing, and advertising services, as well as invests in import and export trading.

Shanghai Fosun Pharmaceutical (Group) (600196 CH)

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Shanghai Fosun Pharmaceutical (Group) (600196 CH)

Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Tina Banerjee

Jiangsu Hengrui (HK 1276): Begins 2026 On a Positive Note With Retlirafusp Approval; More to Follow

Jiangsu Hengrui Pharmaceuticals receives approval for new cancer treatment. Gradually positioning itself as a strong player in the market with...

Tina Banerjee

Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength

Simcere inked exclusive outlicensing agreement with Ipsen Pharma for the development, manufacturing, and commercialization of SIM0613, a LRRC15...

Tina Banerjee

Shenzhen Mindray Bio-Medical A/H Listing-Strong Track Record but Has Been Suffering Lately

Shenzhen Mindray Bio-Medical Electronics (300760 CH) (SMBE), a provider of medical devices, is looking to raise about US$2bn in its upcoming H...

Sumeet Singh

A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Guangzhou Automobile, China Everbright Bank, China Southern...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Simcere Pharma (2096 HK): Proposed Spin-Off Will Unlock Value and Open Funding Avenues for Zaiming

​Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Tina Banerjee

Jiangsu Hengrui (HK 1276): Begins 2026 On a Positive Note With Retlirafusp Approval; More to Follow

​Jiangsu Hengrui Pharmaceuticals receives approval for new cancer treatment. Gradually positioning itself as a strong player in the market with...

Tina Banerjee

Simcere Pharma (2096 HK): Agreement With Vigonvita Positive, Pipeline and Approvals Key Strength

Simcere inked exclusive outlicensing agreement with Ipsen Pharma for the development, manufacturing, and commercialization of SIM0613, a LRRC15...

Tina Banerjee

Shenzhen Mindray Bio-Medical A/H Listing-Strong Track Record but Has Been Suffering Lately

Shenzhen Mindray Bio-Medical Electronics (300760 CH) (SMBE), a provider of medical devices, is looking to raise about US$2bn in its upcoming H...

Sumeet Singh

A-H Premium Weekly (Nov 28th): Guangzhou Automobile, China Everbright Bank, China Southern Airlines

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Guangzhou Automobile, China Everbright Bank, China Southern...

Ke Yan, CFA, FRM

Simcere Pharma plans to spin-off and separately list shares of subsidiary Simcere Zaiming, unlocking value and providing separate access to funds...

Jiangsu Hengrui Pharmaceuticals receives approval for new cancer treatment. Gradually positioning itself as a strong player in the market with...