HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

China Healthcare Weekly(Jul.13)- AstraZeneca-Summit $15bn Deal, IFBH Shares Decline Is Far from Over

China Healthcare Weekly(July20)-WuXi AppTec 25H1, Sino Biopharm Acquire LaNova, United Lab Placement

What Happens to China Healthcare? - The Soaring Shares, the Turning Point, and the Top Picks

Pre-IPO Sunshine Lake Pharma - “Outdated” Pipeline Is Difficult to Obtain Decent Valuation

HEC CJ Pharma (1558.HK)'s Merger Deal with Sunshine Lake Pharma - Almost No Investment Value

Pre-IPO Anjoy Foods Group (PHIP Updates) - Thoughts on Performance Forecast and IPO Valuation

Pre-IPO Foshan Haitian Flavouring & Food Company - Thoughts on the IPO Pricing

China Healthcare Weekly (Jun.15) - Outlook of GLP-1 Market, WuXi Bio’s Placement, Keymed's Placement

Equity Bottom-Up

Yichang HEC Changjiang Pharma / Equity Bottom-Up

<ul>
<li>For the upcoming 11th national VBP, we think some core and big varieties could be included, involving companies such as Sunshine Lake Pharma, <a href="https://www.smartkarma.com/entities/huadong-medicine-co-ltd-a" target="_blank" data-smartkarma-citation="entities:18522:1" rel="noopener">Huadong Medicine</a>, <a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group-co" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a>, etc.</li>
<li>Anjoy’s IPO is fairly priced. Reasonable valuation range is 10-15x P/E.However, unfavorable factors have led us to take a conservative attitude towards the upside potential of stock price after IPO.</li>
<li>For Sunshine Lake Pharma's privatization of HEC Pharma, Composite Document was despatched. However, if investors truly understand "the essence" of HEC Pharma, they will be calm/rational about this absorption merger.</li>
</ul>


For the upcoming 11th national VBP, we think some core and big varieties could be included, involving companies such as Sunshine Lake Pharma, Huadong Medicine, Hansoh Pharmaceutical (3692 HK), etc.
Anjoy’s IPO is fairly priced. Reasonable valuation range is 10-15x P/E.However, unfavorable factors have led us to take a conservative attitude towards the upside potential of stock price after IPO.
For Sunshine Lake Pharma's privatization of HEC Pharma, Composite Document was despatched. However, if investors truly understand "the essence" of HEC Pharma, they will be calm/rational about this absorption merger.


China Healthcare Weekly (Jul.6)- Anjoy’s IPO Debut, HEC CJ Pharma's Merger with Sunshine Lake Pharma