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 Binhui Biopharmaceutical - The Success of Commercialization Is Highly Uncertain

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

Pre-IPO TOP TOY International Group - The Industry, the Business and the Valuation Outlook

Equity Capital Markets

<ul>
<li>COREE's business model is to act as a "connector" between pharmaceutical companies, channels, terminals.Core competitiveness is COREE has stood at the most important traffic entry point for China’s pediatric drugs.</li>
<li>The advantage lies in that COREE has proven its “irreplaceability” in a specific niche field. The challenge is how to open up new growth space without undermining the existing stability.</li>
<li>Some indicators of COREE show signs of deterioration. Close peers include <a href="https://www.smartkarma.com/entities/sinopharm-group-co-ltd-h" target="_blank" data-smartkarma-citation="entities:32:1" rel="noopener">Sinopharm Group </a>and <a href="https://www.smartkarma.com/entities/china-resources-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:22928:1" rel="noopener">China Resources Pharmaceutical</a>. Since COREE has higher risk than SOE peers, valuation could be 10-12x P/E.</li>
</ul>


COREE's business model is to act as a "connector" between pharmaceutical companies, channels, terminals.Core competitiveness is COREE has stood at the most important traffic entry point for China’s pediatric drugs.
The advantage lies in that COREE has proven its “irreplaceability” in a specific niche field. The challenge is how to open up new growth space without undermining the existing stability.
Some indicators of COREE show signs of deterioration. Close peers include Sinopharm Group and China Resources Pharmaceutical. Since COREE has higher risk than SOE peers, valuation could be 10-12x P/E.


China Resources Pharmaceutical Group (3320 HK)

IPO前のCOREE - ビジネスモデルと懸念事項