In today’s briefing:
- Kangji Medical (9997 HK): Speedy Turnaround On Pre-Cons
- SK Chemicals: A Potential EB Issue of 240 Billion Won Using Its Stake in SK Bioscience
- MannKind’s Acquisition of scPharmaceuticals: Strategic CVR Valuation and FDA Approval Prospects for SCP-111
- Zylox Tonbridge Medical (2190 HK): No More Interventions Needed, Blockages Cleared for Growth
- Medtronic plc: Why Its Innovations in Diabetes Management Hold The Key To Its Future!
Kangji Medical (9997 HK): Speedy Turnaround On Pre-Cons
- Kangji Medical Instrument (9997 HK) announced last night all pre-cons have been squared away. That must be some kind of record to secure SAMR approval for a Hong Kong-listed privatisation.
- Back on the 12th August, Kangji Medical announced a less-than-ideal Offer, by way of a Scheme, from a consortium led by TPG and Qatar Investment Authority, together with the founders.
- What next? The Scheme Doc dispatch remains the 31st October, unless announced otherwise, as the Cayman Court is still on its six week “vacation”.
SK Chemicals: A Potential EB Issue of 240 Billion Won Using Its Stake in SK Bioscience
- Hankyung Business Daily reported today that SK Chemicals (285130 KS) is pursuing an issuance of exchangeable bonds (EB) worth 240 billion won using its stake in SK Bioscience (302440 KS).
- SK Chemicals has not officially announced its plans to issue such EB which is likely to have a positive impact on SK Chemicals and negative impact on SK Bioscience.
- SK Chemicals’ market cap is now 1.1 trillion won. Its 66.4% stake in SK Bioscience is worth 2.6 trillion won.
MannKind’s Acquisition of scPharmaceuticals: Strategic CVR Valuation and FDA Approval Prospects for SCP-111
- MannKind acquires scPharmaceuticals for $5.35/share plus a CVR up to $1.00; market values CVR at $0.17.
- SCP-111’s FDA approval is crucial for CVR value; pivotal trials complete with positive results, sNDA submission expected Q3 2025.
- Sales milestone challenging; FUROSCIX revenue below $110m threshold; MannKind’s distribution network key for growth.
Zylox Tonbridge Medical (2190 HK): No More Interventions Needed, Blockages Cleared for Growth
- Zylox-Tonbridge Medical Technology (2190 HK) carried forward 2024 momentum, moving into 1H25. In 2024, sales had grown 48% to RMB 783M, followed by 32% rise to RMB 482M in 1H25.
- Leveraging their robust R&D expertise and integrated technology platforms, the company has made significant progress and lined up launches of several critical innovative projects in neuro and peripheral-vascular interventional device.
- China remains the main growth market for Zylox, though the company is deepening its presence overseas. Zylox stands at an inflection point from where the growth momentum will gain pace.
Medtronic plc: Why Its Innovations in Diabetes Management Hold The Key To Its Future!
- Medtronic’s first quarter results for fiscal year 2026 reflect a combination of steady performance and strategic areas of opportunity.
- The company delivered mid-single-digit organic revenue growth of 4.8%, in line with prior guidance, showcasing consistency in a challenging operational environment.
- Adjusted earnings per share (EPS) surpassed expectations, coming in $0.03 above the mid-point guidance, which underscores the effectiveness of cost management and strategic investment balancing.
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