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 BioRay Biopharmaceutical - The Core Business Is Facing Challenges

Pre-IPO Grandpa’s Farm International - The Business Model, the Concerns and the Outlook

Pre-IPO Junlebao Dairy Group - The Strength and the Concerns

Equity Capital Markets

Yangzhou Nanopore Innovative Materials Technology / Equity Capital Markets

Yangzhou Nanopore Innovative Materials Technology (NPIM HK)

Yangzhou Nanopore Innovative Materials Technology

<ul>
<li>The core of Nanopore’s business model is a dual-drive approach of "technology licensing + material supply"- directly selling finished current collectors to battery/vehicle manufacturers, while providing process verification/technical solution support.</li>
<li>Current loss is because the business is in early stage of commercialization and production capacity utilization is relatively low.Nanopore still needs to achieve cost optimization to reach positive gross margin.</li>
<li>A conservative valuation range could be P/S of 3.5-4x. A neutral valuation range could be P/S of 5-7x. An optimistic valuation range could be P/S of 7-9x.</li>
</ul>


The core of Nanopore’s business model is a dual-drive approach of "technology licensing + material supply"- directly selling finished current collectors to battery/vehicle manufacturers, while providing process verification/technical solution support.
Current loss is because the business is in early stage of commercialization and production capacity utilization is relatively low.Nanopore still needs to achieve cost optimization to reach positive gross margin.
A conservative valuation range could be P/S of 3.5-4x. A neutral valuation range could be P/S of 5-7x. An optimistic valuation range could be P/S of 7-9x.


Guangdong Jia Yuan Technology (688388 CH)

Pre-IPO Yangzhou Nanopore Innovative Materials Technology - About the Business Model and the Outlook