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 Shenzhen Forms Syntron Information (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Shenzhen Kinwong Electronic (PHIP Updates) - Some Points Worth the Attention

SHEIN Global Holdings (625 HK) - The Decline in Valuation May Not Have Ended Yet

Pre-IPO Chongqing Afari Technology (A/H Listing) - The Business Model and the Concerns Behind

Tinci Materials Technology (A/H Listing) - Cost Advantage Is the Moat to Cope with Industry Cycle

Pre-IPO Milian Technology - The Business Model, the Concerns and Thoughts on Valuation

Equity Capital Markets

Shenzhen Forms Syntron Inf-A / Equity Capital Markets

<ul>
<li>Forms Syntron has been deeply involved in core projects of Hong Kong's digital financial infrastructure.The Company has established a profound trust barrier within the Hong Kong digital financial regulatory framework.</li>
<li>Improvement in gross margin and quarterly fluctuations coexist. Revenue recognition method that combines material cost estimation with project-based system leads to a phased imbalance in revenue rhythm and profit distribution.</li>
<li>The valuation of the fintech/software services sector in the Hong Kong stock market is significantly lower than that in the A-share market. A neutral scenario could be P/E of 30-35x.</li>
</ul>


Forms Syntron has been deeply involved in core projects of Hong Kong's digital financial infrastructure.The Company has established a profound trust barrier within the Hong Kong digital financial regulatory framework.
Improvement in gross margin and quarterly fluctuations coexist. Revenue recognition method that combines material cost estimation with project-based system leads to a phased imbalance in revenue rhythm and profit distribution.
The valuation of the fintech/software services sector in the Hong Kong stock market is significantly lower than that in the A-share market. A neutral scenario could be P/E of 30-35x.


Pre-IPO Shenzhen Forms Syntron Information(A/H Listing)-Valuation to Be Higher than Industry Average