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.

Fu Shou Yuan (1448.HK) - 2025 Outlook May Remain Sluggish Despite the Ugly 2024 Results

Fu Shou Yuan (1448.HK) - Negative Growth in 24H1 Seems Inevitable

Fu Shou Yuan (1448.HK) - The Business Model Has "Flaws"

Fu Shou Yuan (1448.HK) - Investment Strategy May Need to Be Adjusted

Greatview Aseptic Packaging (468.HK) - The Story Behind The “Hostile Offer”

Equity Bottom-Up

<ul>
<li>The special dividend actually exceeded investors' expectations. As long as the dividend yield is higher than the risk-free rate, then Fu Shou Yuan is worth holding for the long term.</li>
<li>Fu Shou Yuan's 2024 full-year performance could fall short of expectations. As the business model is not as excellent as previously imagined, long-term growth rate would fall to single digit.</li>
<li>Since high valuation is unsustainable without the support of strong future growth momentum, investors who pursue for capital gains could consider taking profits by taking advantage of share price rally.</li>
</ul>


The special dividend actually exceeded investors' expectations. As long as the dividend yield is higher than the risk-free rate, then Fu Shou Yuan is worth holding for the long term.
Fu Shou Yuan's 2024 full-year performance could fall short of expectations. As the business model is not as excellent as previously imagined, long-term growth rate would fall to single digit.
Since high valuation is unsustainable without the support of strong future growth momentum, investors who pursue for capital gains could consider taking profits by taking advantage of share price rally.


Fu Shou Yuan (1448 HK) - The Special Dividend Beat Expectations, but Concerns Remain