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 Sirio Pharma (A/H Listing) - About the Business Model and the Outlook

Pre-IPO Manycore Tech - (PHIP Updates) - The Business Model, the Concerns and the Outlook

Pre-IPO Star Sports Medicine (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Videotimes Technology Holdings - Expected to See Performance Decline Due to Tariff War

Pre-IPO Hangzhou Tongshifu Cultural and Creative Group - Potential for Future Growth Is Questionable

Pre-IPO Muyuan Foods - Optimistic Performance Ensures the Future Growth Prospects

Equity Capital Markets

Good Doctor Cloud Healthcare & Technology Group / Equity Capital Markets

Good Doctor Cloud Healthcare & Technology Group (GDC HK)

Good Doctor Cloud Healthcare & Technology Group

<ul>
<li>The business model of GOOD DOCTOR CLOUD (CDC) is more of a “middleman”, so its profits is largely dependent on the “price difference” and continuous expansion of customer base.</li>
<li>Short-Term strong demand brought by COVID-19 won’t last. If customer growth fails to meet expectations, long-term performance growth will gradually decline, and even lead to the recurrence of losses.</li>
<li>Although CDC has turned losses into profits, the current earnings are still unstable. Therefore, we suggest using the P/S ratio for valuation, which should be lower than peers.</li>
</ul>


The business model of GOOD DOCTOR CLOUD (CDC) is more of a “middleman”, so its profits is largely dependent on the “price difference” and continuous expansion of customer base.
Short-Term strong demand brought by COVID-19 won’t last. If customer growth fails to meet expectations, long-term performance growth will gradually decline, and even lead to the recurrence of losses.
Although CDC has turned losses into profits, the current earnings are still unstable. Therefore, we suggest using the P/S ratio for valuation, which should be lower than peers.


Ping An Healthcare and Technology (1833 HK)

Pre-IPO Good Doctor Cloud Healthcare & Technology Group - Pain Points of Business Models and Outlook