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.

Fosun Tourism (1992.HK) Privatization - The Cancellation Price Is Not Good Enough

S.F. Holding (6936 HK) - Here's Why Post-IPO Share Price Performance Is So "Boring"

Fosun Tourism (1992.HK) - The Logic Behind the Share Buyback and the Outlook

Shanghai Henlius Biotech (2696.HK) Privatization Update - These Are the Potential Risks Behind

Shanghai Henlius Biotech (2696.HK) Privatization Update- Looks Like "An Agreement" Has Been Reached?

Fosun Pharma (2196 HK/600196.CH) To Privatize Henlius (2696.HK) - Things Are Not as Good as Expected

China Healthcare Weekly (Sep29)- Henlius Privatization Update, NHSA Fee Control, Hansoh Is Exception

Event-Driven

Shanghai Fosun Pharmaceutical (Group) / Event-Driven

Shanghai Fosun Pharmaceutical (Group) (2196 HK)

<ul>
<li>Fosun Pharma is just “a platform” and its performance mainly relies on the contributions of subsidiaries. However, such investment-driven business model has led to the current performance difficulties.</li>
<li>Although the motivation/underlying logic for Fosun Pharma to privatize Henlius are solid, we don’t know how this privatization ranks in terms of strategic significance of capital operations within Fosun's system.</li>
<li>If, for example, Fosun Pharma finds more important acquisitions/capital expenditures, the priority of Henlius’ privatization could fall. So, we think if it takes too long, there may be more uncertainties.</li>
</ul>


Fosun Pharma is just “a platform” and its performance mainly relies on the contributions of subsidiaries. However, such investment-driven business model has led to the current performance difficulties.
Although the motivation/underlying logic for Fosun Pharma to privatize Henlius are solid, we don’t know how this privatization ranks in terms of strategic significance of capital operations within Fosun's system.
If, for example, Fosun Pharma finds more important acquisitions/capital expenditures, the priority of Henlius’ privatization could fall. So, we think if it takes too long, there may be more uncertainties.


Shanghai Fosun Pharmaceutical (Group) (600196 CH)

Livzon Pharmaceutical Group In (000513 CH)

Shenzhen Mindray Bio-Medical Electronics (300760 CH)

Shanghai Fosun Pharmaceutical (2196.HK) - Performance Pain Points and Henlius’ Privatization Outlook