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 Grandpa’s Farm International - The Business Model, the Concerns and the Outlook

Pre-IPO Jinxin Eldercare Industry Group - The Business, the Concerns and the Outlook

Equity Capital Markets

Guangdong True Health Medical Technology Development / Equity Capital Markets

Guangdong True Health Medical Technology Development (THMT HK)

Guangdong True Health Medical Technology Development

<ul>
<li>True Health does not enter the highly competitive fields of endoscopic or orthopedic robotic surgery. Instead, it chooses the niche market of percutaneous puncture and ablation surgery robots.</li>
<li>True Health hasn't yet entered the stage of large-scale revenue generation. It faces high dependence on hospital purchases and policy-driven uncertainties, and shares the common problem of low penetration rate.</li>
<li>We think valuation of True Health would be lower than <a href="https://www.smartkarma.com/entities/shenzhen-edge-medical-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:48939:1" rel="noopener">Edge Medical (2675 HK)</a> and <a href="https://www.smartkarma.com/entities/shanghai-microport-medbot-group-co-ltd-class-h" target="_blank" data-smartkarma-citation="entities:33485:1" rel="noopener">Shanghai MicroPort MedBot (2252 HK)</a> due to its smaller revenue scale and weaker commercialization channels.</li>
</ul>


True Health does not enter the highly competitive fields of endoscopic or orthopedic robotic surgery. Instead, it chooses the niche market of percutaneous puncture and ablation surgery robots.
True Health hasn't yet entered the stage of large-scale revenue generation. It faces high dependence on hospital purchases and policy-driven uncertainties, and shares the common problem of low penetration rate.
We think valuation of True Health would be lower than Edge Medical (2675 HK) and Shanghai MicroPort MedBot (2252 HK) due to its smaller revenue scale and weaker commercialization channels.


Pre-IPO Guangdong True Health Medical Technology (PHIP Updates) - Some Points Worth the Attention