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 Robotphoenix Intelligent Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Manycore Tech - (PHIP Updates) - The Business Model, the Concerns and the Outlook

Pre-IPO Star Sports Medicine - The Business, the Concerns and the Valuation

Pre-IPO Mabwell (Shanghai) Bioscience (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Sigenergy Technology (PHIP Updates) - The Strength and the Concerns

Equity Capital Markets

Star Sports Medicine / Equity Capital Markets

<ul>
<li>There’s a decrease in selling price due to VBP. If future sales volume growth cannot offset the impact of price reduction, it will have significant adverse effect on STAR SPORTS.</li>
<li>International companies seized the majority of the market share, and local enterprises are making cross-industry expansions. For STAR SPORTS, the greater challenge lies in the unfavorable industry competition situation.</li>
<li>STAR SPORTS can achieve RMB164-236 million net profit in next three years. P/E of 15-25x is comfortable, with the corresponding valuation of RMB2.46-5.9 billion based on 2026 and 2028 forecast.  </li>
</ul>


There’s a decrease in selling price due to VBP. If future sales volume growth cannot offset the impact of price reduction, it will have significant adverse effect on STAR SPORTS.
International companies seized the majority of the market share, and local enterprises are making cross-industry expansions. For STAR SPORTS, the greater challenge lies in the unfavorable industry competition situation.
STAR SPORTS can achieve RMB164-236 million net profit in next three years. P/E of 15-25x is comfortable, with the corresponding valuation of RMB2.46-5.9 billion based on 2026 and 2028 forecast.  


Pre-IPO Star Sports Medicine (PHIP Updates) - Some Points Worth the Attention