HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Chongqing Zhifei Biological Products / Equity Bottom-Up

<ul>
<li>Under the current policy in China, any minor changes to vaccine doses require a series of clinical data support and registration changes. So, WHO’s recommendation won’t affect Zhifei’s short-term performance.</li>
<li>The increasing domestic competing HPV vaccines in the future would be a big threat to Zhifei’s agency business. Its self-developed products may not be strong enough to compensate. </li>
<li>The performance in 2022 is expected to be solid before real challenge comes in 2024. The valuation logic and outlook won’t be brighten unless there’s new breakthrough in agency business.</li>
</ul>


Under the current policy in China, any minor changes to vaccine doses require a series of clinical data support and registration changes. So, WHO’s recommendation won’t affect Zhifei’s short-term performance.
The increasing domestic competing HPV vaccines in the future would be a big threat to Zhifei’s agency business. Its self-developed products may not be strong enough to compensate. 
The performance in 2022 is expected to be solid before real challenge comes in 2024. The valuation logic and outlook won’t be brighten unless there’s new breakthrough in agency business.


Chongqing Zhifei Biological Products (300122.CH) - WHO's One-Dose HPV Vaccine Regimen & The Outlook

Equity Capital Markets

Jiangsu Recbio Technology / Equity Capital Markets

In recent years, driven by global public health event such as COVID-19, vaccine R&amp;D and production have gradually attracted wide attention in the market. More and more vaccine companies have begun to develop innovative vaccines with the support of capital, and <a href="https://www.smartkarma.com/entities/jiangsu-recbio-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:33810:1" rel="noopener">Jiangsu Recbio Technology (JRT HK)</a> is one of them. On July 16, 2021, Recbio submitted its prospectus to the HKEX for the application of listing on the main board. This insight mainly analyzed the industry characteristics, the pipeline and related concerns of the Company.

In recent years, driven by global public health event such as COVID-19, vaccine R&amp;D and production have gradually attracted wide attention in the market. More and more vaccine companies have begun to develop innovative vaccines with the support of capital, and Jiangsu Recbio Technology (JRT HK) is one of them. On July 16, 2021, Recbio submitted its prospectus to the HKEX for the application of listing on the main board. This insight mainly analyzed the industry characteristics, the pipeline and related concerns of the Company.

Pre-IPO Jiangsu Recbio Technology - There Are Many Uncertainties

Beijing Wantai Biological Phar / Equity Bottom-Up

By the end of July 13, 2021, the stock price of <a href="https://www.smartkarma.com/entities/beijing-wantai-biological-a" target="_blank" data-smartkarma-citation="entities:30129:1" rel="noopener">Beijing Wantai Biological-A (603392 CH) </a>was closed at RMB279.1/share, up 3090% compared with its IPO price (RMB8.75/share) in April, 2020. Last week, Wantai announced that its wholly-owned IVD subsidiary planned to invest RMB1.336 billion to build a new industrial base. After the completion of the project, it will have a reagent production capacity of 500 million persons per year and a inspection equipment production capacity of 9000 units/year. This insight mainly analyzed the outlook of Wantai’s IVD business and its core HPV vaccine business and the related concerns.

By the end of July 13, 2021, the stock price of Beijing Wantai Biological-A (603392 CH) was closed at RMB279.1/share, up 3090% compared with its IPO price (RMB8.75/share) in April, 2020. Last week, Wantai announced that its wholly-owned IVD subsidiary planned to invest RMB1.336 billion to build a new industrial base. After the completion of the project, it will have a reagent production capacity of 500 million persons per year and a inspection equipment production capacity of 9000 units/year. This insight mainly analyzed the outlook of Wantai’s IVD business and its core HPV vaccine business and the related concerns.

Beijing Wantai Biological (603392.CH) - How to Support Its High Valuation?

Thematic (Sector/Industry)

Industry viewpoints:<ul>
<li>Last week, Biden’s administration surprised the whole pharmaceutical industry about the proposal to waive patent protections for coronavirus shots. However, our view is that the impact is likely to be limited.</li>
<li>The market size of COVID-19 vaccines in China is expected to reach RMB150 billion to RMB180 billion.</li>
<li>Recently, the National Health Care Security Administration, National Health Commission, NMPA and other related departments released documents about medium - and long-term development plan for the isotopes for medical purposes.</li>
</ul>Company news:News about the updated progress on new drugs of <a href="https://www.smartkarma.com/entities/beigene-ltd" target="_blank" data-smartkarma-citation="entities:27352:1" rel="noopener">BeiGene Ltd (6160 HK)</a>, <a href="https://www.smartkarma.com/entities/jacobio-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:29696:1" rel="noopener">Jacobio Pharmaceuticals (1167 HK)</a>, <a href="https://www.smartkarma.com/entities/everest-medicines-ltd" target="_blank" data-smartkarma-citation="entities:29224:1" rel="noopener">Everest Medicines (1952 HK)</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 6.14%, while CSI 300 decreased 2.49% over the same period of time.Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
Last week, Biden’s administration surprised the whole pharmaceutical industry about the proposal to waive patent protections for coronavirus shots. However, our view is that the impact is likely to be limited.
The market size of COVID-19 vaccines in China is expected to reach RMB150 billion to RMB180 billion.
Recently, the National Health Care Security Administration, National Health Commission, NMPA and other related departments released documents about medium - and long-term development plan for the isotopes for medical purposes.
Company news:News about the updated progress on new drugs of BeiGene Ltd (6160 HK), Jacobio Pharmaceuticals (1167 HK), Everest Medicines (1952 HK) and Antengene (6996 HK). Market review:Last week, stock price for healthcare sector in A share decreased 6.14%, while CSI 300 decreased 2.49% over the same period of time.Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.  

<a href="https://www.smartkarma.com/entities/beijing-wantai-biological-a" target="_blank" data-smartkarma-citation="entities:30129:1" rel="noopener">Beijing Wantai Biological-A (603392 CH)</a> has always been a hot topic for investors. The stock price of Wantai, which listed in April last year, rose about 2203% over the year. In January, the stock price rose another 60.77%. As of Febuary 26, 2021 (less than a year after its listing), Wantai ranked the first on the list of A-share gainers with a gain of 2753%, and the largest gain in 2020 was about 3839%. However, a closer look suggests that there are some concerns to pay attention to.

Beijing Wantai Biological-A (603392 CH) has always been a hot topic for investors. The stock price of Wantai, which listed in April last year, rose about 2203% over the year. In January, the stock price rose another 60.77%. As of Febuary 26, 2021 (less than a year after its listing), Wantai ranked the first on the list of A-share gainers with a gain of 2753%, and the largest gain in 2020 was about 3839%. However, a closer look suggests that there are some concerns to pay attention to.

Beijing Wantai Biological (603392.CH) - After A 3839% Rally, Let's Look at Some Concerns

China

Beijing Wantai Biological Pharmacy Enterprise Co., Ltd. manufactures medical products. The Company produces enzyme linked immunodiagnostic reagents, colloidal gold rapid diagnostic reagents, vaccines, biochemical reagents, and other products. Beijing Wantai Biological Pharmacy Enterprise also produces diagnostic equipment.

Beijing Wantai Biological Phar (603392 CH)

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

Beijing Wantai Biological Phar (603392 CH)

Chongqing Zhifei Biological Products (300122.CH) - WHO's One-Dose HPV Vaccine Regimen & The Outlook

WHO’s recommendation on HPV vaccines is not the biggest risk of Zhifei and won't affect short-term performance, but the valuation logic...

Xinyao (Criss) Wang

Pre-IPO Jiangsu Recbio Technology - There Are Many Uncertainties

This article mainly analyzed Recbio Technology in terms of the vaccine industry characteristics, core product candidates (HPV vaccines, COVID-19...

Xinyao (Criss) Wang

Beijing Wantai Biological (603392.CH) - How to Support Its High Valuation?

This article mainly analyzed Wantai in terms of the two core business IVD and HPV vaccine, their business outlook, the market pattern and the...

Xinyao (Criss) Wang

China Healthcare Weekly (May.7)

The article analyzed the potential impact on Biden’s proposal to waive IP protection on COVID-19 shots,market size of COVID-19 vaccine,new...

Xinyao (Criss) Wang

Beijing Wantai Biological (603392.CH) - After A 3839% Rally, Let's Look at Some Concerns

Behind the outstanding performance in stock price,there could be some concerns that deserve to pay attention to in business side, financial...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)