Healthcare Analyst

Wilfred Yuen

Healthcare analyst with 12+ years’ experience in both sell-side and buy-side leadership roles, with extensive experience IPO experience and a robust network of institutional investors and corporate executives. Coverage spans biopharma, biotech, CROs, devices, and health-tech stocks, delivered through with stock/sector/thematic reports, detailed financial models, and direct corporate access.

Innovent (1801.HK): 1H26 Another Strong Set of Results; Unveiled New 2030 Revenue Target RMB35-40bn

InSilico Medicine 3696.HK - 1H26 Results Call Takeaways: BD Deals, AI “Gym” Execution, PCC Momentum

Akeso 9926.HK: 1H26 Results Missed on Topline; Upcoming Events on Harmoni-3 Readout and FDA PDUFA

Genscript (1548.HK): 1H26 Results Driven by AI Orders; Guidance Upgrades on Life-Science and Probio

Hengrui (600276.CH): 2Q26 Miss on Generic Drugs Decline and Moderating Growth of Oncology Segment

Equity Bottom-Up

<ul>
<li>
1H26 revenue up 37% YoY to RMB3.7bn and adjusted net profit was up 37% YoY to RMB1.0bn. Revenue mix (Pre/Post-IND) remained stable. 51 newly signed iCMC projects (record-high).
</li>
<li>
1H26 results call: management takeaways focus on 1) GPM outlook, 2) Singapore site utilisation ramp-up, 3) BioDlink integration, 4) commentary on project funnel, backlog growth, and 2026 guidance.</li>
<li>
At ~HK$78, the stock is currently trading at ~45/37x 2026E P/E (per our back-of-envelop estimates on IFRS and adjusted EPS basis). See inside for call takeaways and financial analysis.</li>
</ul>



1H26 revenue up 37% YoY to RMB3.7bn and adjusted net profit was up 37% YoY to RMB1.0bn. Revenue mix (Pre/Post-IND) remained stable. 51 newly signed iCMC projects (record-high).


1H26 results call: management takeaways focus on 1) GPM outlook, 2) Singapore site utilisation ramp-up, 3) BioDlink integration, 4) commentary on project funnel, backlog growth, and 2026 guidance.

At ~HK$78, the stock is currently trading at ~45/37x 2026E P/E (per our back-of-envelop estimates on IFRS and adjusted EPS basis). See inside for call takeaways and financial analysis.


WuXi XDC (2268.HK): 1H26 Results Call Takeaways: GPM Outlook, Singapore Site, BioDlink Integration