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

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

Pre-IPO Jiangxi Institute of Biological Products-Concerns Behind the Strong Growth and Profitability

Pre-IPO 52TOYS Development - The Business Model and the Concerns Behind

Pre-IPO Muyuan Foods - The Hog King in China Has Greater Potential and Resilience

Equity Capital Markets

Star Sports Medicine / Equity Capital Markets

<ul>
<li>STAR SPORTS establishes close cooperative relationships by providing discounted arthroscopic surgical equipment to hospitals, thereby driving sustained sales of high-margin implant consumables.This is a common business model in the industry.</li>
<li>STAR SPORTS is seizing market share of foreign companies by taking advantage of VBP, but if sales volume growth cannot offset price reductions, it will put pressure on profitability.</li>
<li>Considering its higher growth potential based on import substitution logic, valuation of STAR SPORTS would be higher than peers.A comfortable range could be P/S of 4-6x or P/E of 15-25x.</li>
</ul>


STAR SPORTS establishes close cooperative relationships by providing discounted arthroscopic surgical equipment to hospitals, thereby driving sustained sales of high-margin implant consumables.This is a common business model in the industry.
STAR SPORTS is seizing market share of foreign companies by taking advantage of VBP, but if sales volume growth cannot offset price reductions, it will put pressure on profitability.
Considering its higher growth potential based on import substitution logic, valuation of STAR SPORTS would be higher than peers.A comfortable range could be P/S of 4-6x or P/E of 15-25x.


Beijing Chunlizhengda Medical Instruments (1858 HK)

Beijing Chunlizhengda Medical Instruments

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