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 Resources Medical - Hard to Earn High Profits Due to Poor Business Model and Policy Risk

Micro-Tech Nanjing (688029.CH) - Potential for Reversals Despite Short-Term Pressure on Performance

China Healthcare Weekly (July.29)-Subsidy for VBP, Unpredictable NMPA, Ways for Internationalization

Pre-IPO Cryofocus Medtech (Shanghai) - The Industry, the Business and the Concerns

2022H2 China Healthcare Investment Strategy and Top Picks

Innovent Biologics Inc (1801.HK) - Innovent Is Not Optional but Necessary in Portfolio

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

Best Wellness Innovation Group / Equity Capital Markets

<ul>
<li>The growth in revenue and profit was mainly driven by the face mask business, but this business has ceased, which raises the concerns on future growth momentum of Best Wellness.</li>
<li>Best Wellness’s weak performance of its own-brand business would prevent it from standing out in the fierce market competition in the long term. </li>
<li>Together with over-reliance on limited customers and the complex international relations, we are conservative about the Company’s outlook at the current stage.</li>
</ul>


The growth in revenue and profit was mainly driven by the face mask business, but this business has ceased, which raises the concerns on future growth momentum of Best Wellness.
Best Wellness’s weak performance of its own-brand business would prevent it from standing out in the fierce market competition in the long term. 
Together with over-reliance on limited customers and the complex international relations, we are conservative about the Company’s outlook at the current stage.


Pre-IPO Best Wellness Innovation Group - Here Are the Concerns