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.

Pre-IPO Sichuan Biokin Pharmaceutical - Would Investors Be Willing to Take a Gamble?

Pre-IPO Sichuan Biokin Pharmaceutical (PHIP Updates) - Some Points Worth the Attention

China Healthcare Weekly (Nov.9)-Medical Insurance “Warning Lines”, NewCo Model, BeiGene 25Q3 Results

Pre-IPO Softcare (PHIP Updates) - Some Points Worth the Attention

China Healthcare Weekly (Nov.2) - 11th National VBP, More BD Deal to Come, WuXi AppTec 25Q3 Results

Equity Capital Markets

Sichuan Biokin Pharmaceutical / Equity Capital Markets

Sichuan Biokin Pharmaceutical (688506 CH)

<ul>
<li>For secondary-market investors, aligning with established technology pathways offers greater clarity and comfort than speculating on new business development deals from Chinese firms.</li>
<li>As IPOs of biotechs in HK increase crazily in 2025, it has led companies to overly pursue stock trading, share reduction and exit.We suggest investors remain rational about healthcare IPOs.  </li>
<li>The valuation/IPO pricing of Biokin is too high. Recent poor performance of A/H shares after IPO has already intensified concerns. This could be the reason for the delay of IPO.</li>
</ul>


For secondary-market investors, aligning with established technology pathways offers greater clarity and comfort than speculating on new business development deals from Chinese firms.
As IPOs of biotechs in HK increase crazily in 2025, it has led companies to overly pursue stock trading, share reduction and exit.We suggest investors remain rational about healthcare IPOs.  
The valuation/IPO pricing of Biokin is too high. Recent poor performance of A/H shares after IPO has already intensified concerns. This could be the reason for the delay of IPO.


Sichuan Biokin Pharmaceutical Co Ltd (SBP12 HK)

China Healthcare Weekly (Nov.16) - Crazy Healthcare IPOs, Don't Bet on BD, Biokin HK IPO Delayed