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.

What Will BRICS Bring to the World? - The Rise of The Rest

China Healthcare Weekly (Sep.1) - China's New IPO Reform, Financing Environment, Junshi Biosciences

Pre-IPO Malo Medical Management - Profit Model Is Not Mature; Future Expansion Is Worrying

BeiGene (6160.HK/​BGNE.US) 23H1 - "Accidents" Behind the Strong Growth

Hutchmed China Ltd (13.HK/​HCM.US) 23H1 - This Company Is Becoming More Attractive

Anti-Corruption in China Healthcare – the Impact and the Outlook

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

China Traditional Chinese Medicine (570.HK) - The Privatization Rumor and the Outlook

Equity Capital Markets

<ul>
<li>There is a certain connection between Sunho and Genscript. So, Sunho has a typical style of "CXO switching to biotech" – That is to do whatever is popular.</li>
<li>For core products, IAP0971 and IAE0972 just completed phase I trials, still with high R&amp;D failure risks. IAH0968 is difficult to become a blockbuster variety due to strong competing products.</li>
<li>As investors’re already rational about investing in unprofitable Biotech. The companies without commercialized products and with uncertain outlook may not be favored by the market. Therefore, high valuation is unreasonable.</li>
</ul>


There is a certain connection between Sunho and Genscript. So, Sunho has a typical style of "CXO switching to biotech" – That is to do whatever is popular.
For core products, IAP0971 and IAE0972 just completed phase I trials, still with high R&amp;D failure risks. IAH0968 is difficult to become a blockbuster variety due to strong competing products.
As investors’re already rational about investing in unprofitable Biotech. The companies without commercialized products and with uncertain outlook may not be favored by the market. Therefore, high valuation is unreasonable.


Pre-IPO Sunho Biologics (SHB HK) - High Valuations Can Be Hard to Come By