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 Delton Technology (1989 HK) - The IPO Pricing Is Attractive

Pre-IPO Victory Giant Technology (A/H Listing) - The Business and the Outlook

Pre-IPO Guangdong Huayan Robotics (PHIP Updates) - Some Points Worth the Attention

Pre-IPO TOP TOY International Group - The Industry, the Business and the Valuation Outlook

Suzhou Zelgen Biopharmaceuticals (688266.CH) - Uncertainty Leads to Inaccurate Prediction on Outlook

Pre-IPO Chando Global Holding - Low Growth and Profitability Are Pain Points

Pre-IPO Hangzhou Tongshifu Cultural and Creative Group - Potential for Future Growth Is Questionable

Equity Capital Markets

Suzhou Zelgen Biopharmaceutica / Equity Capital Markets

Suzhou Zelgen Biopharmaceutica (688266 CH)

<ul>
<li>Zelgen’s key products (Donafenib, recombinant human thrombin, Gecacitinib Hydrochloride) have to face fierce competition, VBP impact and small market size.The Company is possible to turn loss into profits before 2027.</li>
<li>The point here is whether Zelgen can continue to launch new innovative products based on Gensun platform, which would be is the key to test Zelgen's R&amp;D system.</li>
<li>Reasonable valuation should be higher than that of companies with only mature generic drugs/simple Me-too innovative drug businesses.Due to high potential innovative drug pipeline, valuation could be higher than peer.</li>
</ul>


Zelgen’s key products (Donafenib, recombinant human thrombin, Gecacitinib Hydrochloride) have to face fierce competition, VBP impact and small market size.The Company is possible to turn loss into profits before 2027.
The point here is whether Zelgen can continue to launch new innovative products based on Gensun platform, which would be is the key to test Zelgen's R&amp;D system.
Reasonable valuation should be higher than that of companies with only mature generic drugs/simple Me-too innovative drug businesses.Due to high potential innovative drug pipeline, valuation could be higher than peer.


Pre-IPO Suzhou Zelgen Biopharmaceuticals (A/H Listing)- Valuation Relies on Innovative Drug Pipeline