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.

Pop Mart (9992 HK) 2025 Results - More Downside Ahead?

Pre-IPO Metis TechBio (PHIP Updates) - The Business Model, the Concerns, and Thoughts on Valuation

Tinci Materials Technology (A/H Listing) - Cost Advantage Is the Moat to Cope with Industry Cycle

Pre-IPO Shenzhen Mindray Bio-Medical Electronics (A/H Listing) - The Headwinds Still Exist

Pre-IPO HLA Group (A/H Listing) - The Outlook Is Not Optimistic

Pre-IPO CSPC Innovation Pharmaceutical (A/H Listing) - The Outlook Is Not Optimistic

Equity Capital Markets

Acrobiosystems   / Equity Capital Markets

<ul>
<li>ACROBIOSYSTEMS's technological and quality advantages lie in its focus on the development of highly complex recombinant proteins. But the product structure remains relatively homogenous, so diversification needs to be improved.</li>
<li>Based on the positive YoY growth of net profit in 25Q1-Q3, we think that the turning point of performance has emerged, and the future growth trend is clear.</li>
<li>The liquidity of the Hong Kong stock market is lower than the A-share market. We think if ACROBIOSYSTEMS A-shares are taken as the benchmark, the discount could be 20%-40%.</li>
</ul>


ACROBIOSYSTEMS's technological and quality advantages lie in its focus on the development of highly complex recombinant proteins. But the product structure remains relatively homogenous, so diversification needs to be improved.
Based on the positive YoY growth of net profit in 25Q1-Q3, we think that the turning point of performance has emerged, and the future growth trend is clear.
The liquidity of the Hong Kong stock market is lower than the A-share market. We think if ACROBIOSYSTEMS A-shares are taken as the benchmark, the discount could be 20%-40%.


Pre-IPO Acrobiosystems (A/H Listing) - The Business and the Outlook