ChinaDaily Briefs

Daily Brief China: Tencent, Sciclone Pharmaceuticals and more

In today’s briefing:

  • China Internet Weekly (23Jan2023): Tencent, Meituan, NetEase, Activision Blizzard
  • Sciclone Pharmaceuticals (6600.HK) – The Business, the Outlook and the Challenges

China Internet Weekly (23Jan2023): Tencent, Meituan, NetEase, Activision Blizzard

By Ming Lu

  • The authorities approved three of Tencent’s games in January 2023 after five in December 2022.
  • Tencent closed its XR business and terminated a property rental contract.
  • NetEase refused to extend service for Activision Blizzard for additional six months.

Sciclone Pharmaceuticals (6600.HK) – The Business, the Outlook and the Challenges

By Xinyao (Criss) Wang

  • Zadaxin has been the biggest performance driver of SciClone, but it would face the risk of losing market share and increased pricing pressures after generic drugs were included in VBP.
  • SciClone is primarily a pharmaceutical development/sales company, rather than a research-based innovative drug company.The increasingly low cost performance of in-licensed products has made the capital “reconsider” and be more rational.
  • SciClone is a good stock for short-term trade, especially by taking advantage of the positive momentum after it reaches licensing deals/launches new products, but we’re concerned about its long-term prospects.

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