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 (Sep.28) - Trump’s Pharma Tariff, Companies Increase Their Holdings, Duality

China Healthcare Weekly (Oct.12) - 11th National VBP, Future BD Trend, Hengrui Is Facing Headwinds

China Healthcare Weekly (Oct.26) - Turning Point of Medical Device, Innovent-Takeda Deal Makes Sense

Pre-IPO Zijin Gold (PHIP Updates) - Thoughts on the Business, the Forecast and Valuation Outlook

Laopu Gold (6181.HK) - Gold Stocks Are Different from Gold Commodities

China Healthcare Weekly (Sep.14) - Trump to Put Restrictions on Chinese Drugs, Sihuan Is Undervalued

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

Equity Bottom-Up

TransThera Sciences (Nanjing) / Equity Bottom-Up

<ul>
<li>At current valuation level, leading biotech listed in Hong Kong have generally “overdrawn” their performance for the next 1 to 3 years. So, it is time to consider taking profits.</li>
<li>TransThera’s shares have been highly volatile following their inclusion in several innovative-drug ETFs. We analyzed the drivers behind this move. With valuation now diverging from fundamentals, we advise caution.</li>
<li>The fluctuations of Duality’s shares were driven by the inclusion of HSCI. However, some funds chose to take profits at high stock prices, thus Duality is under pressure of correction.</li>
</ul>


At current valuation level, leading biotech listed in Hong Kong have generally “overdrawn” their performance for the next 1 to 3 years. So, it is time to consider taking profits.
TransThera’s shares have been highly volatile following their inclusion in several innovative-drug ETFs. We analyzed the drivers behind this move. With valuation now diverging from fundamentals, we advise caution.
The fluctuations of Duality’s shares were driven by the inclusion of HSCI. However, some funds chose to take profits at high stock prices, thus Duality is under pressure of correction.


China Healthcare Weekly(Sep.21)-HK Biotechs Are Overvalued, Duality, Story Behind "Crazy" TransThera