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 Beijing ESWIN Computing Technology (PHIP Updates) - The Strength and the Concerns

Pre-IPO Anhui Sinomags Technology (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Shenzhen Transsion Holdings (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Jintan - About the Business Model, the Risks and the Peer Comparison

Pre-IPO Guangdong Marubi Biotechnology (A/H Listing) - The Pain Points and the Outlook

Pre-IPO Alebund Pharmaceuticals (Jiangsu) Limited - The Pipeline and the Outlook

Equity Capital Markets

TecDo Technology / Equity Capital Markets

<ul>
<li>The core of TecDo's business model is to utilize AI technology to provide customers with result-centric marketing solutions.This is not traditional "traffic reselling”, but a value-sharing based on technological empowerment.</li>
<li>As a rare AI-native global marketing platform, TecDo would enjoy a certain valuation premium. Our view is valuation of TecDo would be higher than <a href="https://www.smartkarma.com/entities/mobvista" target="_blank" data-smartkarma-citation="entities:27574:1" rel="noopener">Mobvista</a>, but lower than AppLovin.</li>
<li>TecDo's media resources are highly concentrated on a few global platforms.If TecDo cannot continuously demonstrate its independence or irreplaceability of the traffic/channels, the logic behind high valuation would be challenged.</li>
</ul>


The core of TecDo's business model is to utilize AI technology to provide customers with result-centric marketing solutions.This is not traditional "traffic reselling”, but a value-sharing based on technological empowerment.
As a rare AI-native global marketing platform, TecDo would enjoy a certain valuation premium. Our view is valuation of TecDo would be higher than Mobvista, but lower than AppLovin.
TecDo's media resources are highly concentrated on a few global platforms.If TecDo cannot continuously demonstrate its independence or irreplaceability of the traffic/channels, the logic behind high valuation would be challenged.


Pre-IPO TecDo Technology - The Investment Logic, the Concerns and the Outlook