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 (Apr.20)- Giant Biogene Announced a HK$2.3bn Placement, China's VBP Outlook

China Healthcare Weekly (Apr.27)- Flaws Behind BeiGene's Breakeven, Fosun Increased Stake in Henlius

China Healthcare Weekly (May.4)-HK Stock Is About to Soar, Mindray's Trouble,Views on Akeso's Plunge

A Rare Surge in China's Stock Market - But, This Is Not a Bull Market

Giant Biogene (2367.HK) Placement - A Turning Point in Performance Growth Has Emerged

Pre-IPO Sichuan Biokin Pharmaceutical - Would Investors Be Willing to Take a Gamble?

Ascentage Pharma (6855.HK) Signs $1.3B Deal with Takeda - Finally on the Right Path

Equity Bottom-Up

<ul>
<li>Due to higher technological barriers and stricter review/approval processes, Class III medical device registration certificates in China are scarce.This is the key to addressing the decline in Giant Biogene’s performance/profitability.</li>
<li>The approval for Giant Biogene’s Class III medical device has been delayed. If Trautec and Jinbo take the lead, it will affect the market expectations of Giant Biogene's new products.</li>
<li>Without successful approval of Class III medical devices, reasonable valuation for Giant Biogene is P/E of 20-30x at most. The short-term catalyst is the upcoming online Double Eleven Shopping Festival.</li>
</ul>


Due to higher technological barriers and stricter review/approval processes, Class III medical device registration certificates in China are scarce.This is the key to addressing the decline in Giant Biogene’s performance/profitability.
The approval for Giant Biogene’s Class III medical device has been delayed. If Trautec and Jinbo take the lead, it will affect the market expectations of Giant Biogene's new products.
Without successful approval of Class III medical devices, reasonable valuation for Giant Biogene is P/E of 20-30x at most. The short-term catalyst is the upcoming online Double Eleven Shopping Festival.


Giant Biogene (2367.HK) - The Key to Valuation Expansion and Short-Term Catalyst