HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. / Equity Bottom-Up

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd.

<ul>
<li>In terms of the business model,the uniqueness and scarcity of Pien Tze Huang keep the market demand at high level,supporting its strong ability to raise prices and establish high moat.</li>
<li>The concerns on single product risk, scare raw materials and inadequate production capacity would cast a shadow over the Company’ future development.</li>
<li>The breakthrough point lies in whether the Company can make use of the unique advantages generated from "Pien Tze Huang" series to cultivate a second strong growth point in time.</li>
</ul>


In terms of the business model,the uniqueness and scarcity of Pien Tze Huang keep the market demand at high level,supporting its strong ability to raise prices and establish high moat.
The concerns on single product risk, scare raw materials and inadequate production capacity would cast a shadow over the Company’ future development.
The breakthrough point lies in whether the Company can make use of the unique advantages generated from "Pien Tze Huang" series to cultivate a second strong growth point in time.


Zhangzhou Pientzehuang Pharmaceutical (600436.CH) - The Strength and the Concerns

Bloomage Biotechnology  Lt / Equity Bottom-Up

<ul>
<li>There’re many uncertainties about Imeik’s development strategy, resilience in front of risks and corresponding business performance, which could make it difficult for the market to calmly view the next fluctuation.</li>
<li>Despite lower profit margin, Bloomage is more R&amp;D oriented and characterized by integration of industrial chain,enabling it to establish wider moat and move forward more stably in the long term.</li>
<li>Our view is that <a href="https://www.smartkarma.com/entities/bloomage-biotechnology-corporation-a" target="_blank" data-smartkarma-citation="entities:30390:1" rel="noopener">Bloomage Biotechnology Corporation-A (688363 CH)</a> is expected to have more potential and imagination space than <a href="https://www.smartkarma.com/entities/imeik-technology-development-co-ltd" target="_blank" data-smartkarma-citation="entities:32170:1" rel="noopener">Imeik Technology Development (300896 CH)</a> in the future.</li>
</ul>


There’re many uncertainties about Imeik’s development strategy, resilience in front of risks and corresponding business performance, which could make it difficult for the market to calmly view the next fluctuation.
Despite lower profit margin, Bloomage is more R&amp;D oriented and characterized by integration of industrial chain,enabling it to establish wider moat and move forward more stably in the long term.
Our view is that Bloomage Biotechnology Corporation-A (688363 CH) is expected to have more potential and imagination space than Imeik Technology Development (300896 CH) in the future.


Bloomage Biotechnology (688363.CH) Vs Imeik Technology (300896.CH) - The Logic and the Outlook

Research on Tech Companies

Evelyn Zhang

Thematic (Sector/Industry)

<ul>
<li>The competition between Alibaba and JD has been heating up after Alibaba abandoned its "exclusivity requirement”, JD sale GMV increased by 28.4% vs Alibaba only increased by 8.4% YoY.  </li>
<li>Live streaming has become a mainstream sales channel, Douyin and Kuaishou both achieved more than 200% sales increase YoY.  </li>
<li>Influencers and brands are fighting over price setting power. Many brands have opened their own official livestreaming channels this year.</li>
</ul>


The competition between Alibaba and JD has been heating up after Alibaba abandoned its "exclusivity requirement”, JD sale GMV increased by 28.4% vs Alibaba only increased by 8.4% YoY.  
Live streaming has become a mainstream sales channel, Douyin and Kuaishou both achieved more than 200% sales increase YoY.  
Influencers and brands are fighting over price setting power. Many brands have opened their own official livestreaming channels this year.


Equity Capital Markets

Beijing Evercare Medical Technology Group / Equity Capital Markets

Beijing Evercare Medical Technology Group

<p>With the innovation of medical beauty technology and consumers' higher standard for their own image, the market demand for aesthetic medical services is increasing. After <a href="https://www.smartkarma.com/entities/imeik-technology-development-co-ltd" target="_blank" data-smartkarma-citation="entities:32170:1" rel="noopener">Imeik Technology Development (300896 CH)</a> submitted its prospectus to HKEX, another company in medical beauty industry, <a href="https://www.smartkarma.com/entities/beijing-evercare-medical-technology-group-co-ltd" target="_blank" data-smartkarma-citation="entities:34189:1" rel="noopener">Beijing Evercare Medical Technology Group (EMT HK)</a>, also officially started its IPO process. Evercare is a leading private aesthetic medical institution group in China. However, if look closely, Evercare is actually facing many challenges, and its outlook may not be optimistic. This insight mainly analyzed the concerns of the Company that worth the investors’ attention.</p>

With the innovation of medical beauty technology and consumers' higher standard for their own image, the market demand for aesthetic medical services is increasing. After Imeik Technology Development (300896 CH) submitted its prospectus to HKEX, another company in medical beauty industry, Beijing Evercare Medical Technology Group (EMT HK), also officially started its IPO process. Evercare is a leading private aesthetic medical institution group in China. However, if look closely, Evercare is actually facing many challenges, and its outlook may not be optimistic. This insight mainly analyzed the concerns of the Company that worth the investors’ attention.

Pre-IPO Beijing Evercare Medical Technology Group - The Outlook May Not Be Optimistic

Imeik Technology Development C / Equity Capital Markets

<p>On July 29, 2021, <a href="https://www.smartkarma.com/entities/imeik-technology-development-co-ltd" target="_blank" data-smartkarma-citation="entities:32170:1" rel="noopener">Imeik Technology Development (300896 CH)</a>, which has been listed in A shares, submitted its prospectus to the HKEX and is expected to become the first company in medical aesthetic industry with "A+H" shares listing. Meanwhile, Imeik also released its 2021/1H financial results recently. The revenue was RMB633 million, up 161.87% YoY, and the net profit was RMB425 million, up 195.42% YoY, maintaining high growth momentum. This insight mainly analyzed the industry characteristics, the business, the financial position and the concerns of the Company. </p>

On July 29, 2021, Imeik Technology Development (300896 CH), which has been listed in A shares, submitted its prospectus to the HKEX and is expected to become the first company in medical aesthetic industry with "A+H" shares listing. Meanwhile, Imeik also released its 2021/1H financial results recently. The revenue was RMB633 million, up 161.87% YoY, and the net profit was RMB425 million, up 195.42% YoY, maintaining high growth momentum. This insight mainly analyzed the industry characteristics, the business, the financial position and the concerns of the Company. 

Pre-IPO Imeik Technology Development (300896 CH) - Is High Profitability Sustainable?

China

Bloomage Biotechnology Corporation Limited develops and manufactures medical products. The Company produces fillers, mesotherapy products, bio reactive hyaluronic acids, repair soothing skin care products, and other products. Bloomage Biotechnology supplies its products in medicine, cosmetics, food manufacturing companies, medical institutions, and other fields.

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Bloomage Biotechnology Lt (688363 CH)

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Bloomage Biotechnology (688363.CH) Vs Imeik Technology (300896.CH) - The Logic and the Outlook

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Pre-IPO Imeik Technology Development (300896 CH) - Is High Profitability Sustainable?

The article analyzed Imeik in terms of the medical aesthetic industry characteristics, the business, the financial position and the concerns on...

Xinyao (Criss) Wang

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