In today’s briefing:
- China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene’s Trouble, Views on Newtrend IPO Pricing
- Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable
China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene’s Trouble, Views on Newtrend IPO Pricing
- Summit’s chances of being sold have decreased significantly. Since Summit does not have enough funds to promote multiple large-scale Phase III trials, the outlook of Summit/Akeso will become increasingly passive.
- The public statements of Zhao Yan from Bloomage have raised doubts in the market about the prospects of collagen and Giant Biogene. Below, we shared some differentiated views on this.
- The IPO pricing of Newtrend is HK$18.9-20.9/share. We think Newtrend is overvalued considering the “price war” and oversupply issue. Reasonable valuation should be lower than Anhui Jinhe Industrial (002597 CH).
Didi Global Q125 Results | Company Should Move to List Shares While Earnings & Conditions Favorable
- Didi reported solid top-line growth, improving core margins (and OpCF) in Q125
- Drivers of Q125 top-line growth were broad-based, but note F/X impact on International
- We believe Didi should move to re-list shares while earnings & conditions are supportive
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