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.

Hutchmed China Ltd (13.HK/​​HCM.US) - The Fundamentals Remain Strong

China Healthcare Weekly (Dec.29) - Haier Biomedical Plans to Merge with and Absorb Shanghai RAAS

Hutchmed China Ltd (13.HK/​​HCM.US) 24H1 - Fruquintinib's US Sales Beat; Break-Even Is Within Reach

China Healthcare Weekly (Dec.22) - Zai Lab, Junshi, How to Choose PA Good Doctor's Special Dividend?

China Healthcare Weekly (Dec.15) - 10th VBP Results, WuXi Shares Surge, Newjf Will Be Successful

Equity Capital Markets

Hutchmed China Ltd / Equity Capital Markets

<ul>
<li>HUTCHMED announced the disposal of 45% equity interest in SHPL for US$608 million, including selling 35% equity interest to GP Health Service Capital and 10% equity interest to Shanghai Pharma.</li>
<li>There’re synergies between SHPL and Shanghai Pharma regarding TCM business. It's necessary for HUTCHMED to sell non-core JV to reserve cash flow in advance to focus on innovative drug business.</li>
<li>The entire valuation of SHPL reaches RMB10 billion, or about 15x P/E. If HUTCHMED’s innovative drug business can bear fruit, its valuation has more room to grow in the future.</li>
</ul>


HUTCHMED announced the disposal of 45% equity interest in SHPL for US$608 million, including selling 35% equity interest to GP Health Service Capital and 10% equity interest to Shanghai Pharma.
There’re synergies between SHPL and Shanghai Pharma regarding TCM business. It's necessary for HUTCHMED to sell non-core JV to reserve cash flow in advance to focus on innovative drug business.
The entire valuation of SHPL reaches RMB10 billion, or about 15x P/E. If HUTCHMED’s innovative drug business can bear fruit, its valuation has more room to grow in the future.


Shanghai Pharmaceuticals Holding (601607 CH)

Shanghai Pharmaceuticals Holding (2607 HK)

HUTCHMED to Divest 45% Stake in Non-Core Joint Venture with Shanghai Pharma