HONG KONG ALPHA PORTFOLIO (May 2025)
The Hong Kong Alpha portfolio underperformed its benchmark in May by 3%, however it has outperformed Hong Kong indexes by 3 to 19% since its launch...
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APAC Healthcare Weekly (June 1)- Eisai, Daiichi, Samsung Bio, SK Bioscience, CSPC, Hengrui Pharma
Eisai's Dayvigo approved in China. Daiichi Sankyo withdrew BLA in US. Samsung Bio secures CMO contracts. SK Bioscience expands vaccine...
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CSPC Pharmaceutical (1093 HK): Finished Drugs Drag 1Q25; Out Licensing And New Launches To Be Key
CSPC Pharmaceutical's 1Q25 revenue dropped 22% YoY, but operating margin remained stable. License and collaboration for pipeline products should...
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Jiangsu Hengrui Pharma H Share Listing (1276 HK): Trading Debut
Hengrui had the highest oversubscription rates among recent large AH listings. The AH discount implied by the offer is attractive.
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Jiangsu Hengrui Pharma H Share Listing (1276 HK): Valuation Insights
The proposed AH discount can be argued as either light or attractive. I lean toward the latter and would participate in the H Share listing.
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