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.

China Healthcare Weekly (Sep.14) - Trump to Put Restrictions on Chinese Drugs, Sihuan Is Undervalued

China Healthcare Weekly(Sep.21)-HK Biotechs Are Overvalued, Duality, Story Behind "Crazy" TransThera

China Healthcare Weekly (Sep.28) - Trump’s Pharma Tariff, Companies Increase Their Holdings, Duality

Kangji Medical (9997 HK) Privatization Update - About the 25H1 Results and the Privatization Outlook

China Healthcare Weekly (Aug.24)-JD Health 25H1 Results, Hansoh Placement, Ascletis Pharma Placement

China Healthcare Weekly (Aug.31) - P/R Ratio Is Meaningless, Innovent, Zylox-Tonbridge 25H1 Results

Shanghai Henlius Biotech (2696 HK) - Thoughts on the Valuation Outlook

Equity Capital Markets

<ul>
<li>The inflection point of the policy on medical device is expected to appear this year. High-end imaging, medical robots, AI, and biomaterials are the four fields worth investors’ attention.</li>
<li>WuXi XDC announced Placement to raise HK$1.3 billion net proceeds at HK$58.85/share.XDC will have &gt;30% YoY growth in 2025-2027 but Li Ge/WuXi AppTec’s reduction of holdings is a discordant voice.</li>
<li>MIXUE’s lock-up of shares allotted to cornerstone investors expired. Current valuation is acceptable based on 2025 forecast, but investors need more 'safety margins' on valuation due to concerns on outlook</li>
</ul>


The inflection point of the policy on medical device is expected to appear this year. High-end imaging, medical robots, AI, and biomaterials are the four fields worth investors’ attention.
WuXi XDC announced Placement to raise HK$1.3 billion net proceeds at HK$58.85/share.XDC will have &gt;30% YoY growth in 2025-2027 but Li Ge/WuXi AppTec’s reduction of holdings is a discordant voice.
MIXUE’s lock-up of shares allotted to cornerstone investors expired. Current valuation is acceptable based on 2025 forecast, but investors need more 'safety margins' on valuation due to concerns on outlook


中国ヘルスケアウィークリー（9月7日） - デバイスの変曲点、無錫XDCの配置、MIXUEのロックアップ期限切れ

Mixue Group

中国ヘルスケアウィークリー（9月7日） - デバイスの変曲点、無錫XDCの配置、MIXUEのロックアップ期限切れ