Daily Brief Health Care: Caregen Co Ltd, QT Vascular Ltd, Medlive Technology and more

In today’s briefing:

Caregen (214370 KS): Business Recovery Backed by Strong Global Demand; New Products Brighten Outlook
10 in 10 with Quantum Healthcare – Transformed for Future-Resiliency
Medlive Technology (2192.HK) 22H1- The Growth Logic/Business Model Is More Scrutinized by the Market

Caregen (214370 KS): Business Recovery Backed by Strong Global Demand; New Products Brighten Outlook

Caregen Co Ltd (214370 KS) is a niche biotech company, with focus on biomimetic peptide-based cosmeceuticals and medical devices targeting anti-aging industry. The company has a large addressable market opportunity.
Despite the negative impact from the re-spread of COVID-19, Caregen reported 4% y/y growth in total revenue in H1 2022, with operating profit margin expanding 260bps.
Caregen’s COVID-19 nasal spray is in phase 1 trial. FDA has registered Caregen’s health functional food to control blood sugar as a new dietary ingredient (NDI).

10 in 10 with Quantum Healthcare – Transformed for Future-Resiliency

The improvement of Medlive’s profitability in 22H1 seems more related to the large decreased income tax expense rather than any obvious improvement of main business or any other logic.
The single main business structure and insufficient core competitiveness add uncertainty to the Company’s long-term prospects, which makes it difficult to significantly improve the valuation.
Medlive is under double pressure of “squeezing bubble” in healthcare industry and “the fading of traffic dividend” in Internet industry.Its growth logic/business model will be more scrutinized by the market.

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