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 Softcare (PHIP Updates) - Some Points Worth the Attention

China Healthcare Weekly (Nov.9)-Medical Insurance “Warning Lines”, NewCo Model, BeiGene 25Q3 Results

China Healthcare Weekly (Nov.16) - Crazy Healthcare IPOs, Don't Bet on BD, Biokin HK IPO Delayed

Pre-IPO Zephyrm Bioscience - Despite Promising Pipeline, Investment Risk Is High

Pre-IPO Wuhan Dazhong Dental Medical - Valuation Performance May Disappoint Investors

Pre-IPO LANTIAN Group Holdings - The Industry Is Saturated, with Weak Profitability

Pre-IPO S.F. Holding (6936 HK) - Thoughts on Valuation and the Outlook

Equity Capital Markets

<ul>
<li>Softcare has established its core competitiveness of "low price + localization", and has achieved success in Africa. Softcare hopes to replicate its business model in Africa to other markets.</li>
<li>Emerging Markets have seen sustained growth in market penetration of baby/feminine hygiene products. We’re optimistic about Softcare's future performance growth due to “demographic dividend + consumption upgrade” in Emerging Markets.</li>
<li>Softcare has strong fundamentals and promising outlook. We think valuation of Softcare should be higher than <a href="https://www.smartkarma.com/entities/hengan-international-group-co-ltd" target="_blank" data-smartkarma-citation="entities:29:1" rel="noopener">Hengan International Group (1044 HK)</a> due to higher profit margin and future growth potential.</li>
</ul>


Softcare has established its core competitiveness of "low price + localization", and has achieved success in Africa. Softcare hopes to replicate its business model in Africa to other markets.
Emerging Markets have seen sustained growth in market penetration of baby/feminine hygiene products. We’re optimistic about Softcare's future performance growth due to “demographic dividend + consumption upgrade” in Emerging Markets.
Softcare has strong fundamentals and promising outlook. We think valuation of Softcare should be higher than Hengan International Group (1044 HK) due to higher profit margin and future growth potential.


Pre-IPO Softcare - Strong Performance Growth Momentum Would Continue