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 JD Industrials (PHIP Updates) - Business Model, Peer Comparison, Forecast and Valuation

2026 High Conviction - China Healthcare: High-Certainty Investment Opportunity Has Emerged

Pre-IPO UltraGreen.ai - Thoughts on the Business, the Concerns and the Valuation

Laopu Gold (6181.HK) 25H1 - Remember to Escape Before Collapsing

Laopu Gold (6181.HK) - The Business Model, the Concerns, the Valuation Outlook

Laopu Gold (6181.HK) - Gold Stocks Are Different from Gold Commodities

China TCM (570.HK) - Performance Is Expected to Rebound

Chongqing Taiji Industry (Group) (600129.CH) 25H1- CNPGC Commits to Resolving Horizontal Competition

Equity Bottom-Up

<ul>
<li>Stock price of Zijin Gold fluctuated up and down and not closely followed gold prices, which may disappoint investors who buy gold companies to take advantage of rising gold prices.</li>
<li>We'll reduce holdings of gold/silver and hold cash to deal with liquidity crises. Given the hyperinflation brought about by dollar depreciation, we'll focus on inflation trading after liquidity crisis occurs.</li>
<li>The main investment targets we will select include: commodities (e.g. gold, silver, copper). Upstream gold mining companies (e.g. Zijin Mining, Zijin Gold) will have priority over downstream company like Laopu.</li>
</ul>


Stock price of Zijin Gold fluctuated up and down and not closely followed gold prices, which may disappoint investors who buy gold companies to take advantage of rising gold prices.
We'll reduce holdings of gold/silver and hold cash to deal with liquidity crises. Given the hyperinflation brought about by dollar depreciation, we'll focus on inflation trading after liquidity crisis occurs.
The main investment targets we will select include: commodities (e.g. gold, silver, copper). Upstream gold mining companies (e.g. Zijin Mining, Zijin Gold) will have priority over downstream company like Laopu.


Zijin Gold (2259 HK) Vs Laopu Gold (6181 HK) Vs Gold Commodity- The Investment Logic and the Outlook