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 Sirius Therapeutics - The Pipeline and the Concerns Behind

Pre-IPO Mandi Inc. - The Business Model, the Concerns and the Valuation

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

Equity Capital Markets

<ul>
<li>Jiwusiwei's all-round coverage strategy and offering high-profit products have demonstrated strong competitiveness in current period of restaurant differentiation, which enables Jiwusiwei to have stronger “buffering capacity” when consumption environment fluctuates.</li>
<li>The heavy reliance on core shopping districts in first-/second-tier cities, as well as the uncertainty of its expansion in lower-tier markets, could become bottlenecks that restrict its long-term development.</li>
<li>
<a href="https://www.smartkarma.com/entities/helens-international-holdings" target="_blank" data-smartkarma-citation="entities:34113:1" rel="noopener">Helens International Holdings (9869 HK)</a> is the comparable company. Given that Jiwusiwei outperforms Helens International Holdings in all aspects, its valuation should rightfully receive a significant premium.</li>
</ul>


Jiwusiwei's all-round coverage strategy and offering high-profit products have demonstrated strong competitiveness in current period of restaurant differentiation, which enables Jiwusiwei to have stronger “buffering capacity” when consumption environment fluctuates.
The heavy reliance on core shopping districts in first-/second-tier cities, as well as the uncertainty of its expansion in lower-tier markets, could become bottlenecks that restrict its long-term development.

Helens International Holdings (9869 HK) is the comparable company. Given that Jiwusiwei outperforms Helens International Holdings in all aspects, its valuation should rightfully receive a significant premium.


Pre-IPO Jiwusiwei - The Strength and the Concerns