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.

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

Pre-IPO Tanboer Group - Low Profit Margin Is a Pain Poin

Pre-IPO Chando Global Holding - Low Growth and Profitability Are Pain Points

Equity Capital Markets

Kidswant Children Products / Equity Capital Markets

<ul>
<li>Kidswant's growth has come to a standstill. The core driver of Kidswant's net profit growth came from the refined control of expenses, not the result of improvements in core business</li>
<li>Kidswant is facing the fading of the demographic dividend, intensified industry competition, and risk of business diversification. HK IPO might relieve short-term liquidity pressure but not a long-term solution</li>
<li>Kidswant, with its leading scale, member ecosystem, growth story, may enjoy a certain valuation premium. However, due to lower profit margin and growth rate, valuation could be lower than peer.</li>
</ul>


Kidswant's growth has come to a standstill. The core driver of Kidswant's net profit growth came from the refined control of expenses, not the result of improvements in core business
Kidswant is facing the fading of the demographic dividend, intensified industry competition, and risk of business diversification. HK IPO might relieve short-term liquidity pressure but not a long-term solution
Kidswant, with its leading scale, member ecosystem, growth story, may enjoy a certain valuation premium. However, due to lower profit margin and growth rate, valuation could be lower than peer.


Pre-IPO Kidswant Children Products (A/H Listing)- About the Business Model and Thoughts on Valuation