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 Shanghai Seer Intelligent Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Crealights Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Alebund Pharmaceuticals (PHIP Updates) - Some Points Worth the Attention

Pre-IPO BioRay Biopharmaceutical - The Core Business Is Facing Challenges

Pre-IPO Sunny & Sandy (Hunan) Group - Deep Dive the Business Model, Concerns, Thoughts on Valuation

Pre-IPO Junlebao Dairy Group - The Strength and the Concerns

Equity Capital Markets

Lingyi iTech Guangdong  / Equity Capital Markets

<ul>
<li>LINGYI has formed a vertically integrated business model covering the entire chain of "core materials → precision functional components → functional modules → high-quality assembly" driven by "endogenous+external" dual wheels.</li>
<li>Due to fluctuations in the US dollar exchange rate and the high prices of bulk raw materials such as copper and aluminum, profitability of LINGYI could be under pressure.</li>
<li>Considering the industry-leading position advantage and expected premium for new growth curves, reasonable valuation of LINGYI would be higher than peers, such as P/E of 20-28x based on 2026 forecast.</li>
</ul>


LINGYI has formed a vertically integrated business model covering the entire chain of "core materials → precision functional components → functional modules → high-quality assembly" driven by "endogenous+external" dual wheels.
Due to fluctuations in the US dollar exchange rate and the high prices of bulk raw materials such as copper and aluminum, profitability of LINGYI could be under pressure.
Considering the industry-leading position advantage and expected premium for new growth curves, reasonable valuation of LINGYI would be higher than peers, such as P/E of 20-28x based on 2026 forecast.


Pre-IPO Lingyi ITech Guangdong (PHIP Updates) - The Business Model and the Outlook