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.

WuXi XDC (2268 HK) To Acquire BioDlink (1875 HK) - A Done Deal; A New ADC Overlord Will Emerge

Pre-IPO Shenzhen Salubris Pharmaceuticals (A/H Listing) - Innovative Drug Business Has Been on Track

MiniMax Group (100 HK) - There Is "Bubble" In Valuation

Pop Mart (9992 HK) 25Q3 - The Decline in Stock Prices May Not Have Ended Yet

China Healthcare Weekly (Feb.2) - US Strike on China CXOs, CSPC Innovation, Peach Picking Period

Zijin Gold (2259 HK) Vs Laopu Gold (6181 HK) Vs Gold Commodity- The Investment Logic and the Outlook

Pre-IPO Banu International Holding - The Pain Points and the Outlook

Equity Capital Markets

CSPC Innovation Pharmaceutical-A / Equity Capital Markets

CSPC Innovation Pharmaceutical-A (300765 CH)

<ul>
<li>CSPC Innovation has fallen into a growth bottleneck. It is confronted with the sluggish growth of traditional pillar businesses, but new innovative drug/vaccine businesses have yet to form effective support.</li>
<li>Valuation performance of CSPC Innovation would be jointly determined by the “defensive nature” of its traditional business and the “aggressive nature” of its innovative drug pipeline.</li>
<li>CSPC Innovation is in a stage of "transition between the old and the new model" during the transformation process. Valuation could be close to <a href="https://www.smartkarma.com/entities/lepu-biopharma-co-ltd" target="_blank" data-smartkarma-citation="entities:33231:1" rel="noopener">Lepu Biopharma</a> but lower than Biokin. </li>
</ul>


CSPC Innovation has fallen into a growth bottleneck. It is confronted with the sluggish growth of traditional pillar businesses, but new innovative drug/vaccine businesses have yet to form effective support.
Valuation performance of CSPC Innovation would be jointly determined by the “defensive nature” of its traditional business and the “aggressive nature” of its innovative drug pipeline.
CSPC Innovation is in a stage of "transition between the old and the new model" during the transformation process. Valuation could be close to Lepu Biopharma but lower than Biokin. 


Sichuan Biokin Pharmaceutical (688506 CH)

Sichuan Biokin Pharmaceutical Co Ltd (SBP12 HK)

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