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 Creality 3D Technology (PHIP Updates) - The Business and the Outlook

Pre-IPO Banma Intelligence Group - The Strength and the Concerns

Pre-IPO Liuliumei Co., Ltd. (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Shenzhen Mindray Bio-Medical Electronics (A/H Listing) - The Headwinds Still Exist

Pre-IPO CSPC Innovation Pharmaceutical (A/H Listing) - The Outlook Is Not Optimistic

Pre-IPO Betta Pharmaceuticals (A/H Listing) - Thoughts on the Pipeline, the Outlook, and Valuation

Equity Capital Markets

Shenzhen Salubris Pharmaceuticals A / Equity Capital Markets

Shenzhen Salubris Pharmaceuticals A (002294 CH)

<ul>
<li>Salubris’ core business has shifted from the reliance on generic drugs to the innovative drug ecosystem centered on CKM,aiming to leverage a product portfolio that covers the entire disease cycle.</li>
<li>The negative impact of VBP on the performance has largely been eliminated. However, from the perspectives of product innovation and global layout, Salubris still has some weaknesses. </li>
<li>Considering that Salubris has a more differentiated CKM product line and a higher growth potential, the market may give it certain premium or higher valuation than <a href="https://www.smartkarma.com/entities/sino-biopharmaceutical" target="_blank" data-smartkarma-citation="entities:230:1" rel="noopener">Sino Biopharmaceutical </a>and CSPC.</li>
</ul>


Salubris’ core business has shifted from the reliance on generic drugs to the innovative drug ecosystem centered on CKM,aiming to leverage a product portfolio that covers the entire disease cycle.
The negative impact of VBP on the performance has largely been eliminated. However, from the perspectives of product innovation and global layout, Salubris still has some weaknesses. 
Considering that Salubris has a more differentiated CKM product line and a higher growth potential, the market may give it certain premium or higher valuation than Sino Biopharmaceutical and CSPC.


Jiangsu Kanion Pharmaceutical Co, Ltd. (600557 CH)

Jiangsu Hengrui Pharmaceuticals (1276 HK)

Pre-IPO Shenzhen Salubris Pharmaceuticals (A/H Listing) - Innovative Drug Business Has Been on Track