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 TCM (570.HK) - About the 25H1 Profit Warning and the Outlook

China TCM (570.HK) - Performance Is Expected to Rebound

Chongqing Taiji Industry (Group) (600129.CH) 25H1- CNPGC Commits to Resolving Horizontal Competition

Wuxi Biologics (2269 HK) 25H1 - Concerns Behind the Performance Rebound

Equity Bottom-Up

China Traditional Chinese Medicine / Equity Bottom-Up

China Traditional Chinese Medicine (570 HK)

<ul>
<li>China TCM released Profit Warning. The Company would shift from a profit into a loss in 2025, mainly due to concentrated TCM granules VBP/intensified market competition, assets impairment, remedial taxes.</li>
<li>Based on news, Taiji will collaborate with CNPGC to promote the resolution of horizontal competition.Such commitment will expire on April 14, 2026. In fact, we've seen some progress last year. </li>
<li>China TCM’s valuation is rarely driven by strong fundamentals, but more by privatization rumors. The catalyst for China TCM’s share price in 2026 is CNPGC’s announcement within three months.</li>
</ul>


China TCM released Profit Warning. The Company would shift from a profit into a loss in 2025, mainly due to concentrated TCM granules VBP/intensified market competition, assets impairment, remedial taxes.
Based on news, Taiji will collaborate with CNPGC to promote the resolution of horizontal competition.Such commitment will expire on April 14, 2026. In fact, we've seen some progress last year. 
China TCM’s valuation is rarely driven by strong fundamentals, but more by privatization rumors. The catalyst for China TCM’s share price in 2026 is CNPGC’s announcement within three months.


Chongqing Taiji Industry (Group) A (600129 CH)

China TCM (570.HK) - About the 2025 Profit Warning and the Outlook