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 Tong Ren Tang Healthcare Investment (PHIP Updates) - Some Points Worth the Attention

Pre-IPO Softcare (PHIP Updates) - Some Points Worth the Attention

China Healthcare Weekly (Nov.9)-Medical Insurance “Warning Lines”, NewCo Model, BeiGene 25Q3 Results

What Happens to China Healthcare? - The Soaring Shares, the Turning Point, and the Top Picks

Pre-IPO Busy Ming Group - Concerns Behind the High Growth

Pre-IPO Boxihe Outdoor Sports Group - The Concerns Behind the High Growth

China Healthcare Weekly(July20)-WuXi AppTec 25H1, Sino Biopharm Acquire LaNova, United Lab Placement

Equity Capital Markets

Videotimes Technology Holdings / Equity Capital Markets

<ul>
<li>Videotimes adopts a "domestic production + overseas sales" model. The Company competes for market share by relying largely on Amazon channel and price cuts, with overall revenue showing upward trend.</li>
<li>Due to Sino-US tariff war and the risk of US dollar depreciation, future performance decline seems inevitable. Our forecast for 2025 is revenue/net profit could be down 4.8% YoY/21% YoY.</li>
<li>Valuation of Videotimes could be lower than peer. A comfortable range is P/E of 10-15x. However, if 2025 performance decline is confirmed, valuation may be revised down to 6-10x P/E.</li>
</ul>


Videotimes adopts a "domestic production + overseas sales" model. The Company competes for market share by relying largely on Amazon channel and price cuts, with overall revenue showing upward trend.
Due to Sino-US tariff war and the risk of US dollar depreciation, future performance decline seems inevitable. Our forecast for 2025 is revenue/net profit could be down 4.8% YoY/21% YoY.
Valuation of Videotimes could be lower than peer. A comfortable range is P/E of 10-15x. However, if 2025 performance decline is confirmed, valuation may be revised down to 6-10x P/E.


Pre-IPO Videotimes Technology Holdings - Expected to See Performance Decline Due to Tariff War