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.

Shanghai Henlius Biotech (2696 HK) - About the Deal Break and the Valuation Outlook

China Healthcare Weekly (Jan.26) - Key Takeaways from the Failure of Henlius Privatization, TCM M&As

China Healthcare Weekly (Feb.2)- Update on CR Sanjiu's Acquisition of Tasly, China Biotech's Outlook

China Healthcare Weekly (Oct.20)-A Big Lesson from China TCM's Deal Break, “Must Option” of Biotech

China Healthcare Weekly (Dec.8) - TCM VBP Update, GLP-1's Good Story Broke, China TCM's Sudden Rally

China TCM (570.HK) Update - The Real Reason For the Deal Break and the Valuation Outlook

Ping An Healthcare and Technology (1833 HK) - About The Special Dividend and the Outlook

Ping An Healthcare and Technology (1833 HK) - Privatization Ahead?

Equity Bottom-Up

China Traditional Chinese Medicine / Equity Bottom-Up

China Traditional Chinese Medicine (570 HK)

<ul>
<li>The sharp performance decline of China TCM in 2024 is actually in line with our expectation. The current valuation has not yet reached its lowest point. </li>
<li>China TCM can still achieve an average annual profit of RMB1 billion in the future. Together with the new management, we expect the Company to come out of the trough.</li>
<li>Instead of betting on privatization again, it's better to focus more on whether China TCM's fundamentals would improve, which is the key factor that can support a sustainable valuation rebound.</li>
</ul>


The sharp performance decline of China TCM in 2024 is actually in line with our expectation. The current valuation has not yet reached its lowest point. 
China TCM can still achieve an average annual profit of RMB1 billion in the future. Together with the new management, we expect the Company to come out of the trough.
Instead of betting on privatization again, it's better to focus more on whether China TCM's fundamentals would improve, which is the key factor that can support a sustainable valuation rebound.


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