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.14) - Trump to Put Restrictions on Chinese Drugs, Sihuan Is Undervalued

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

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

Kangji Medical (9997 HK) Privatization Update - About the 25H1 Results and the Privatization Outlook

China Healthcare Weekly (Aug.24)-JD Health 25H1 Results, Hansoh Placement, Ascletis Pharma Placement

China Healthcare Weekly (Aug.31) - P/R Ratio Is Meaningless, Innovent, Zylox-Tonbridge 25H1 Results

Shanghai Henlius Biotech (2696 HK) - Thoughts on the Valuation Outlook

Equity Capital Markets

<ul>
<li>The inflection point of the policy on medical device is expected to appear this year. High-end imaging, medical robots, AI, and biomaterials are the four fields worth investors’ attention.</li>
<li>WuXi XDC announced Placement to raise HK$1.3 billion net proceeds at HK$58.85/share.XDC will have &gt;30% YoY growth in 2025-2027 but Li Ge/WuXi AppTec’s reduction of holdings is a discordant voice.</li>
<li>MIXUE’s lock-up of shares allotted to cornerstone investors expired. Current valuation is acceptable based on 2025 forecast, but investors need more 'safety margins' on valuation due to concerns on outlook</li>
</ul>


The inflection point of the policy on medical device is expected to appear this year. High-end imaging, medical robots, AI, and biomaterials are the four fields worth investors’ attention.
WuXi XDC announced Placement to raise HK$1.3 billion net proceeds at HK$58.85/share.XDC will have &gt;30% YoY growth in 2025-2027 but Li Ge/WuXi AppTec’s reduction of holdings is a discordant voice.
MIXUE’s lock-up of shares allotted to cornerstone investors expired. Current valuation is acceptable based on 2025 forecast, but investors need more 'safety margins' on valuation due to concerns on outlook


China Healthcare Weekly (Sep.7)- Device Inflection Point, WuXi XDC Placement, MIXUE’s Lock-Up Expiry

Mixue Group

China Healthcare Weekly (Sep.7)- Device Inflection Point, WuXi XDC Placement, MIXUE’s Lock-Up Expiry