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.

IFBH (6603 HK) - Debut Is the Peak, and Then It Wanes?

China Healthcare Weekly(Jul.13)- AstraZeneca-Summit $15bn Deal, IFBH Shares Decline Is Far from Over

China Healthcare Weekly(July20)-WuXi AppTec 25H1, Sino Biopharm Acquire LaNova, United Lab Placement

Pre-IPO We Doctor Holdings - The Good Story of AI May Not Turn Things Around

Pre-IPO Chagee Holdings - IPO Pricing Is Attractive, But Share Price May Underperform

Mixue Group (2097 HK) - Updates on Valuation Outlook and Growth Forecast Based on 2024 Results

Pre-IPO Chagee Holdings - Some Points Worth the Attention

Equity Capital Markets

<ul>
<li>IFBH’s revenue showed high growth in 2024. Due to asset-light business model, IFBH has good profit margin performance. Net profit is expected to have 20+% growth in next three years.</li>
<li>IFBH is facing significant pressure from intensified market competition and price wars. In recent years, a large number of brands have flooded the coconut water market, with serious product homogenization.</li>
<li>Considering the high risk of single product layout, concentration of customers/suppliers, and the far from perfect supply chain, there's uncertainty in future prospects. Valuation could be lower than industry average</li>
</ul>


IFBH’s revenue showed high growth in 2024. Due to asset-light business model, IFBH has good profit margin performance. Net profit is expected to have 20+% growth in next three years.
IFBH is facing significant pressure from intensified market competition and price wars. In recent years, a large number of brands have flooded the coconut water market, with serious product homogenization.
Considering the high risk of single product layout, concentration of customers/suppliers, and the far from perfect supply chain, there's uncertainty in future prospects. Valuation could be lower than industry average


Pre-IPO IFBH Pte. Ltd. (PHIP Updates) - The Hidden Risks Behind the Strong Growth and High Margins