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 Eternal Beauty Holdings (PHIP Updates) - The Outlook Has Changed

Pre-IPO Anjoy Foods Group (PHIP Updates) - Thoughts on Performance Forecast and IPO Valuation

Pre-IPO Newtrend Technology - Changes in Market Trends Make the Performance Recovery Uncertain

Pre-IPO Muyuan Foods - The Hog King in China Has Greater Potential and Resilience

Pre-IPO Medtide - The Industry, the Business and the Concerns

Shanghai Henlius Biotech (2696 HK)- LVC Is Betting on Higher Valuation Upside Due to Business Update

Pre-IPO Vigonvita Life Sciences - The Challenges Behind the Pipeline and the Outlook

Equity Capital Markets

<ul>
<li>The sales growth of GLP-1s has entered a turning point. The actual market size of GLP-1s could be much lower-than-expected, which would affected the growth outlook of peptide CXOs.</li>
<li>Medtide is not strong as expected in the peptide CXOs industry. There's a “hidden problem” in terms of the market share ranking. We updated our forecast for the next three years.</li>
<li>Considering geopolitical conflicts/intense competition, it's difficult for Medtide to secure orders from industry leaders when the Company lacks competitiveness and are small in scale. Valuation should be lower than peers.</li>
</ul>


The sales growth of GLP-1s has entered a turning point. The actual market size of GLP-1s could be much lower-than-expected, which would affected the growth outlook of peptide CXOs.
Medtide is not strong as expected in the peptide CXOs industry. There's a “hidden problem” in terms of the market share ranking. We updated our forecast for the next three years.
Considering geopolitical conflicts/intense competition, it's difficult for Medtide to secure orders from industry leaders when the Company lacks competitiveness and are small in scale. Valuation should be lower than peers.


Sinopep-Allsino Bio Pharmaceutical (688076 CH)

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