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 (Jun.22) - CNPGC to Acquire Shuanglin, Thoughts on Zhou Liu Fu's IPO Pricing

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

China Healthcare Weekly (Jun.29) - Biotech Valuation Bubble Is About to Burst, Innovent's Placement

Pre-IPO Zhou Liu Fu Jewellery (PHIP Updates) - Some Points Worth the Attention

Wuxi Biologics (2269 HK) - The Concerns Behind 2024 Results and the Outlook in 2025

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

China Healthcare Weekly (Jun.8)-Summit/Akeso, Giant Biogene's Trouble, Views on Newtrend IPO Pricing

Equity Capital Markets

<ul>
<li>The GLP-1 market has officially transitioned from a duopoly to a state where Tirzepatide is eating away at Semaglutide's market share, which should be a highly valued advance signal.</li>
<li>WuXi Bio’s Placing price of HK$26.51-26.88/share is expansive if based on 2025 forecast.Obviously, WuXi Bio hopes to leverage the positive market sentiment to complete the placement at high share price</li>
<li>Keymed plans to raise about HK$854million through a top-up placement. However, reasonable valuation for Keymed is RMB5-10 billion. In other words, the Placing Price of HK$45.48 per Share is expensive.</li>
</ul>


The GLP-1 market has officially transitioned from a duopoly to a state where Tirzepatide is eating away at Semaglutide's market share, which should be a highly valued advance signal.
WuXi Bio’s Placing price of HK$26.51-26.88/share is expansive if based on 2025 forecast.Obviously, WuXi Bio hopes to leverage the positive market sentiment to complete the placement at high share price
Keymed plans to raise about HK$854million through a top-up placement. However, reasonable valuation for Keymed is RMB5-10 billion. In other words, the Placing Price of HK$45.48 per Share is expensive.


Jiangsu Hengrui Pharmaceuticals (1276 HK)

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