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 IFBH Pte. Ltd. (PHIP Updates) - The Hidden Risks Behind the Strong Growth and High Margins

IFBH (6603 HK) - Debut Is the Peak, and Then It Wanes?

China Healthcare Weekly(Jul.13)- AstraZeneca-Summit $15bn Deal, IFBH Shares Decline Is Far from Over

Pre-IPO We Doctor Holdings - Here Are the Concerns

Ping An Good Doctor (1833.HK) - A Vicious Cycle?

Ping An Healthcare and Technology (1833.HK) - Thoughts About The Mandatory General Offer and Outlook

Ping An Healthcare and Technology (1833 HK) - Cash Dividend Or Scrip Dividend?

Ping An Healthcare and Technology (1833 HK) - About The Special Dividend and the Outlook

Equity Capital Markets

WeDoctor Holdings / Equity Capital Markets

<ul>
<li>We Doctor's business structure has undergone significant changes. Its positioning has become the AI-enabled healthcare solutions provider. The current business model of We Doctor is To G (To Government) model.</li>
<li>Whether We Doctor can replicate Tianjin model in other cities is uncertain because it may not have deep connections/resources in new cities/regions. Profit model of AI+ healthcare isn’t yet clear.</li>
<li>We Doctor's Pre-IPO valuation has reached US$6.7 billion, which is too expensive. Reasonable valuation could be just US$1-2 billion, and should be lower than Ping An Good Doctor.</li>
</ul>


We Doctor's business structure has undergone significant changes. Its positioning has become the AI-enabled healthcare solutions provider. The current business model of We Doctor is To G (To Government) model.
Whether We Doctor can replicate Tianjin model in other cities is uncertain because it may not have deep connections/resources in new cities/regions. Profit model of AI+ healthcare isn’t yet clear.
We Doctor's Pre-IPO valuation has reached US$6.7 billion, which is too expensive. Reasonable valuation could be just US$1-2 billion, and should be lower than Ping An Good Doctor.


Ping An Healthcare and Technology (1833 HK)

Pre-IPO We Doctor Holdings - The Good Story of AI May Not Turn Things Around