HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 13 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

ClouDr Group (9955.HK) 23H1 - Turning Losses into Profits Is Within Reach

China Healthcare Weekly (Aug.25) - Anti Corruption Affects IPO, TIGIT Revives Again? Neusoft Xikang

CSRC’s IPO Reform and Its Impact on China Healthcare Investment

JD Health (6618.HK) - Business Transformation Is Still Difficult

JD Health (6618.HK) - It's Time to Reassess the Business Prospects and Valuation

JD Health (6618.HK) 23Q1 - As Industry Beta Fades, the Expectation Reversal Has yet to Come

Gravity Works As WeWork Doesn't; Now Plan B

Hangzhou Tigermed Consulting (3347.HK/300347.CH) 2022H1 - The Time Bomb Is Ticking

Shenzhen Mindray Bio-Medical Electronics (300760.CH) 2022H1 - Waiting for the Next Jump in Valuation

Equity Bottom-Up

JD Health International  / Equity Bottom-Up

<ul>
<li>It is an indisputable fact that JD Health's revenue growth has slowed down. The core reason is the industry beta brought by mobile Internet demographic dividend/COVID-19 dividend has faded away.</li>
<li>JD Health's performance could be under pressure in 2H23. If revenue growth continues to show a downward trend, whether the current profit margin/profitability can be maintained is a question mark.</li>
<li>JD health is facing four major dilemmas, including both business and policy aspects. Long-term valuation outlook for JD Health is not optimistic. We advise investors to re-evaluate the Company. </li>
</ul>


It is an indisputable fact that JD Health's revenue growth has slowed down. The core reason is the industry beta brought by mobile Internet demographic dividend/COVID-19 dividend has faded away.
JD Health's performance could be under pressure in 2H23. If revenue growth continues to show a downward trend, whether the current profit margin/profitability can be maintained is a question mark.
JD health is facing four major dilemmas, including both business and policy aspects. Long-term valuation outlook for JD Health is not optimistic. We advise investors to re-evaluate the Company. 


JD Health (6618.HK) 23H1 - The Beautiful Story Is Over; It's Time to Face Reality