HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

<ul class="">
<li>
<a href="https://www.smartkarma.com/entities/wuxi-apptec" target="_blank" data-smartkarma-citation="entities:23679:1" rel="noopener">Wuxi Biologics (2269 HK)</a> recently raised its full-year guidance, indicating the certainty of future performance growth.</li>
<li>The high quality of profit, strong global business layout, capacity, supply chain and technology platforms has helped the Company establish high moat.</li>
<li>The “reflection arc” of domestic negative policy impact, the increasing labor cost and other concerns should also be aware of by investors.</li>
<li>Like <a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd-bf4a1265-beef-48b6-b82d-29308426030f" target="_blank" data-smartkarma-citation="entities:27795:1" rel="noopener">WuXi AppTec Co. Ltd. (2359 HK)</a>, investors are advised to get prepared in advance. </li>
</ul>



Wuxi Biologics (2269 HK) recently raised its full-year guidance, indicating the certainty of future performance growth.
The high quality of profit, strong global business layout, capacity, supply chain and technology platforms has helped the Company establish high moat.
The “reflection arc” of domestic negative policy impact, the increasing labor cost and other concerns should also be aware of by investors.
Like WuXi AppTec Co. Ltd. (2359 HK), investors are advised to get prepared in advance. 


Wuxi Biologics (2269.HK) 2021Q3 - The Strength and the Concerns Behind the New Full-Year Guidance

Thematic (Sector/Industry)

Industry viewpoints:<ul>
<li>The national medical insurance negotiation is coming soon.</li>
<li>Last Friday, a new document about the VBP on insulin was released, and the bidding would start on November 26.</li>
<li>At some point next year, we may see some slowdown in the growth of investment and financing transmitted from the industry and primary market as well as a slowdown in the growth of CXO orders. </li>
</ul>Company news:News about the updated progress on new drugs of <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a>, <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH)</a> and <a href="https://www.smartkarma.com/entities/antengene-corp-ltd" target="_blank" data-smartkarma-citation="entities:29705:1" rel="noopener">Antengene (6996 HK)</a>Market review:Last week, stock price for healthcare sector in A share decreased 1.35%, while CSI 300 decreased 1.35% over the same period of time.Risk disclosure: Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
The national medical insurance negotiation is coming soon.
Last Friday, a new document about the VBP on insulin was released, and the bidding would start on November 26.
At some point next year, we may see some slowdown in the growth of investment and financing transmitted from the industry and primary market as well as a slowdown in the growth of CXO orders. 
Company news:News about the updated progress on new drugs of Innovent Biologics Inc (1801 HK), Jiangsu Hengrui Medicine (600276 CH) and Antengene (6996 HK)Market review:Last week, stock price for healthcare sector in A share decreased 1.35%, while CSI 300 decreased 1.35% over the same period of time.Risk disclosure: Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China Healthcare Weekly (Nov.5) - Final Two Domestic Policy Risks, Outlook of China CXO Industry

Equity Capital Markets

Beijing Mabworks Biotech / Equity Capital Markets

On July 18, 2021, <a href="https://www.smartkarma.com/entities/beijing-mabworks-biotech-company-limited" target="_blank" data-smartkarma-citation="entities:33816:1" rel="noopener">Beijing Mabworks Biotech (MWB HK) </a>formally submitted its application to the HKEX for listing on the main board. It should be noted that Mabworks's application for listing on the SSE STAR Market was accepted in September last year, but the Company voluntarily withdrew its application in March this year. Mabworks is a clinical-stage biopharmaceutical company in China focusing on the discovery and development of differentiated antibody drugs. This insight mainly analyzed the clinical-stage drug candidates and related concerns of the Company.

On July 18, 2021, Beijing Mabworks Biotech (MWB HK) formally submitted its application to the HKEX for listing on the main board. It should be noted that Mabworks's application for listing on the SSE STAR Market was accepted in September last year, but the Company voluntarily withdrew its application in March this year. Mabworks is a clinical-stage biopharmaceutical company in China focusing on the discovery and development of differentiated antibody drugs. This insight mainly analyzed the clinical-stage drug candidates and related concerns of the Company.

Pre-IPO Beijing Mabworks Biotech - MIL62 Alone Cannot Save the Situation

Shenzhen Mindray Bio-Medical Electronics / Equity Bottom-Up

Since <a href="https://www.smartkarma.com/entities/shenzhen-mindray-bio-medic-a" target="_blank" data-smartkarma-citation="entities:28017:1" rel="noopener">Shenzhen Mindray Bio-Medical Electronics (300760 CH)</a>’s share price hit a record high of RMB502/share in July, the share price has fallen about 25% to close at RMB378.03/share on Oct. 15, 2021. Meanwhile, on October 18, there would be 662 million restricted shares allowed for circulation, accounting for 54.49% of the total share capital. Besides, the news about centralized procurement as well as the acquisition of Hytest Invest Oy also caught investors’ attention. This insight mainly analyzed the business, the performance in 2021/1H, the potential impact of centralized procurement, the Hytest deal and the outlook of the Mindray.

Since Shenzhen Mindray Bio-Medical Electronics (300760 CH)’s share price hit a record high of RMB502/share in July, the share price has fallen about 25% to close at RMB378.03/share on Oct. 15, 2021. Meanwhile, on October 18, there would be 662 million restricted shares allowed for circulation, accounting for 54.49% of the total share capital. Besides, the news about centralized procurement as well as the acquisition of Hytest Invest Oy also caught investors’ attention. This insight mainly analyzed the business, the performance in 2021/1H, the potential impact of centralized procurement, the Hytest deal and the outlook of the Mindray.

Shenzhen Mindray Bio-Medical Electronics (300760.CH) - The Logic Behind Optimism

Industry viewpoints:
<ul>
<li>VBP on recombinant human growth hormone</li>
<li>The differentiation of business models between big pharma/biopharma and biotech companies</li>
<li>A view on the development prospects of innovative drugs in China </li>
</ul>
Company news:
News about the updated progress on new drugs of <a href="https://www.smartkarma.com/entities/hansoh-pharmaceutical-group" target="_blank" data-smartkarma-citation="entities:23675:1" rel="noopener">Hansoh Pharmaceutical (3692 HK)</a>, <a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a> and <a href="https://www.smartkarma.com/entities/luye-pharma-group-ltd" target="_blank" data-smartkarma-citation="entities:488:1" rel="noopener">Luye Pharma (2186 HK)</a>.
Market review:
Last week, stock price for healthcare sector in A share decreased 1.98%, while CSI 300 increased 0.04% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:

VBP on recombinant human growth hormone
The differentiation of business models between big pharma/biopharma and biotech companies
A view on the development prospects of innovative drugs in China 

Company news:
News about the updated progress on new drugs of Hansoh Pharmaceutical (3692 HK), Akeso Biopharma Inc (9926 HK) and Luye Pharma (2186 HK).
Market review:
Last week, stock price for healthcare sector in A share decreased 1.98%, while CSI 300 increased 0.04% over the same period of time.
Risk disclosure:
Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China Healthcare Weekly (Oct15)-Growth Hormone VBP, Biotech's Business Model,Innovative Drug Outlook

China

Jiangsu Hengrui Medicine Co., Ltd. develops, manufactures, and markets a variety of medicines and medicine packing materials. The Company's products include anti-tumor medicines, pain-killers, anti-infection medicines, aluminum foil, and other related products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Jiangsu Hengrui Medicine (600276 CH)

Wuxi Biologics (2269.HK) 2021Q3 - The Strength and the Concerns Behind the New Full-Year Guidance

This insight mainly analyzed WuXi Biologics in terms of the new full-year guidance, CMO business, profit quality, other moats, and the concerns of...

Xinyao (Criss) Wang

China Healthcare Weekly (Nov.5) - Final Two Domestic Policy Risks, Outlook of China CXO Industry

The insight mainly analyzed the final two domestic policy risks (the national medical insurance negotiation & the VBP on insulin) by the end of...

Xinyao (Criss) Wang

Pre-IPO Beijing Mabworks Biotech - MIL62 Alone Cannot Save the Situation

This article mainly analyzed Mabworks Biotech in terms of the important clinical-stage drug candidates (MIL62, MIL93, MBS301, MIL97, MIL95, MIL86,...

Xinyao (Criss) Wang

Shenzhen Mindray Bio-Medical Electronics (300760.CH) - The Logic Behind Optimism

The article analyzed Mindray in terms of the core businesses, the 2021H1 performance, the impact of centralized procurement, the Hytest deal, the...

Xinyao (Criss) Wang

China Healthcare Weekly (Oct15)-Growth Hormone VBP, Biotech's Business Model,Innovative Drug Outlook

The article analyzed the VBP on recombinant human growth hormone, the difference in business model of big pharma/biopharma and biotech, and the...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)