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Pre-IPO Xuanzhu Biopharmaceutical- Outdated Pipelines Are Difficult to Bring Good Investment Returns

Pre-IPO Bama Tea - The Business Model, the Challenges and the Outlook

Chagee Holdings - Debut Is the Peak, and Then It Wanes?

Pre-IPO Fujian Lemo IoT Technology - The Outlook for Growth and Profit Margins Is Not Optimistic

Equity Capital Markets

Nanjing Perlove Medical Equipment / Equity Capital Markets

Nanjing Perlove Medical Equipment (PME HK)

<ul>
<li>Perlove’s strategy is high cost effectiveness to compete for market share. Although Perlove has achieved localization of some core components, detectors and algorithms of high-end equipment still rely on imports</li>
<li>Due to the lack of high-end product line layout, the positioning of mid-to-low end products makes it difficult for Perlove to obtain brand premium, thereby affecting profit margin performance. </li>
<li>Under the logic of import substitution, United Imaging and Wandong will benefit more than Perlove. Valuation of Perlove should be lower than United Imaging and Wandong. </li>
</ul>


Perlove’s strategy is high cost effectiveness to compete for market share. Although Perlove has achieved localization of some core components, detectors and algorithms of high-end equipment still rely on imports
Due to the lack of high-end product line layout, the positioning of mid-to-low end products makes it difficult for Perlove to obtain brand premium, thereby affecting profit margin performance. 
Under the logic of import substitution, United Imaging and Wandong will benefit more than Perlove. Valuation of Perlove should be lower than United Imaging and Wandong. 


Shanghai United Imaging Health (688271 CH)

Pre-IPO Nanjing Perlove Medical Equipment - Valuation Should Be Lower than Peers