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.

Pre-IPO BioRay Biopharmaceutical - The Core Business Is Facing Challenges

Pre-IPO Viewtrix Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Lung Fung Group (PHIP Updates) - Some Points Worth the Attention

Pop Mart (9992 HK) - 2025 High Growth Is a Done Deal, but How About 2026?

Zijin Gold (2259 HK) IPO Debut - Some Points Worth the Attention

Pre-IPO Ganzhou Hemay Pharmaceutical - The Concerns on the Pipelines

Pre-IPO Zijin Gold (PHIP Updates) - Thoughts on the Business, the Forecast and Valuation Outlook

Equity Capital Markets

Changchun High-Tech Industry / Equity Capital Markets

<ul>
<li>CHANGCHUN HIGH-TECH’s stock price has been declining for more than four years since the news broke in May 2021 that growth hormone was to be included in 17-province VBP alliance.</li>
<li>GenSci’s innovative drug pipeline layout does have some ideas, but in fact, there are no expected blockbuster products among them - Their technological barriers and long-term exclusivity are relatively limited.</li>
<li>Short-Term performance pain is inevitable due to negative growth of main business and strategic transformation. The market may give it a conservative valuation, which may be lower than peers.</li>
</ul>


CHANGCHUN HIGH-TECH’s stock price has been declining for more than four years since the news broke in May 2021 that growth hormone was to be included in 17-province VBP alliance.
GenSci’s innovative drug pipeline layout does have some ideas, but in fact, there are no expected blockbuster products among them - Their technological barriers and long-term exclusivity are relatively limited.
Short-Term performance pain is inevitable due to negative growth of main business and strategic transformation. The market may give it a conservative valuation, which may be lower than peers.


Anhui Anke Biotechnology (Group) (300009 CH)

Chengdu Kanghong Pharmaceutical Group-A (002773 CH)

Xiamen Amoytop Biotech Co Ltd (688278 CH)

Changchun BCHT Biotechnology C (688276 CH)

Pre-IPO Changchun High-Tech Industry (A/H Listing) - The Business and the Outlook