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 Zhejiang Jingxin Pharmaceutical (A/H Listing) - Growth Path Returns as VBP Will Subside

Pre-IPO Beijing Zhongke WengAI Science and Technology (PHIP Update)-The Chinese Version of Palantir?

Pre-IPO Suzhou TFC Optical Communication (A/H Listing) - The Business, Risks, Thoughts on Valuation

Pre-IPO TOP TOY International Group - The Industry, the Business and the Valuation Outlook

3SBio Inc (1530 HK) Placement - The Placing Price Indicates Decent Upside Potential in Valuation

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

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

Equity Capital Markets

Ming Yu Pharmaceutical / Equity Capital Markets

<ul>
<li>Almost all core pipelines of Ming Yu are facing fierce competition from domestic and foreign pharmaceutical giants, but Ming Yu has no commercialized products on the market. </li>
<li>In order to become a cornerstone drug of the generation, the key is not whether the molecule is the best, but whether Ming Yu has enough resources to drive R&amp;D</li>
<li>Ming Yu’s commercialization capability still needs to be verified. We think valuation of Ming Yu would be lower than peers such as Akeso and Kelun Bio.</li>
</ul>


Almost all core pipelines of Ming Yu are facing fierce competition from domestic and foreign pharmaceutical giants, but Ming Yu has no commercialized products on the market. 
In order to become a cornerstone drug of the generation, the key is not whether the molecule is the best, but whether Ming Yu has enough resources to drive R&amp;D
Ming Yu’s commercialization capability still needs to be verified. We think valuation of Ming Yu would be lower than peers such as Akeso and Kelun Bio.


Sichuan Kelun-Biotech Biopharmaceutical (6990 HK)

Jiangsu Hengrui Pharmaceuticals (1276 HK)

Pre-IPO Ming Yu Pharmaceutical - Popular Products Do Not Necessarily Guarantee Commercial Success