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 BlissBio - The Pipeline Has Not yet Been Verified as No Deal Has Been Reached with MNCs

Zijin Gold (2259 HK) 25Q3 - Updates on Forecast/Valuation and Potential Risks Behind

Pre-IPO Vigonvita Life Sciences - The Challenges Behind the Pipeline and the Outlook

Zijin Gold (2259 HK) IPO Debut - Some Points Worth the Attention

Equity Capital Markets

Vigonvita Life Sciences / Equity Capital Markets

<ul>
<li>Vigonvita's product revenue is unlikely to show significant improvement in short term. Whether Vigonvita can avoid the pitfalls that peers have fallen into remains to be tested by the market.</li>
<li>With a large amount of idle production capacity, the rationality and necessity of the IPO fundraising plan still including the construction of a new factory in Qingdao are questionable.</li>
<li>Vigonvita's valuation is mainly based on the commercialization of TPN171/VV116. If sales of TPN171 is poor or clinical trial of VV116 fails, valuation will face the risk of significant decline.</li>
</ul>


Vigonvita's product revenue is unlikely to show significant improvement in short term. Whether Vigonvita can avoid the pitfalls that peers have fallen into remains to be tested by the market.
With a large amount of idle production capacity, the rationality and necessity of the IPO fundraising plan still including the construction of a new factory in Qingdao are questionable.
Vigonvita's valuation is mainly based on the commercialization of TPN171/VV116. If sales of TPN171 is poor or clinical trial of VV116 fails, valuation will face the risk of significant decline.


Pre-IPO Vigonvita Life Sciences (PHIP Updates) - Some Points Worth the Attention