HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Beijing Evercare Medical Technology Group / Equity Capital Markets

Beijing Evercare Medical Technology Group

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.

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

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.

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?

Thematic (Sector/Industry)

Industry Viewpoints:<ul>
<li>Eight departments jointly issued the pilot plan for deepening the price reform of medical services.</li>
<li>New document was released to regulate the medical beauty advertisement.</li>
<li>With labels such as "whitening", "keeping healthy" and "anti-aging", related functional food has captured the "health anxiety" of young people. </li>
</ul>Company News:News about the updated progress on new drugs of <a href="https://www.smartkarma.com/entities/jw-therapeutics" target="_blank" data-smartkarma-citation="entities:29679:1" rel="noopener">JW Therapeutics (2126 HK)</a>, <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>, Gloria Biosciences,<a href="https://www.smartkarma.com/entities/beigene-ltd" target="_blank" data-smartkarma-citation="entities:27352:1" rel="noopener">BeiGene Ltd (6160 HK) </a>and <a href="https://www.smartkarma.com/entities/jacobio-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:29696:1" rel="noopener">Jacobio Pharmaceuticals (1167 HK)</a>. Market Review:Last week, stock price for healthcare sector in A share decreased 2.03%, while CSI 300 increased 0.33% over the same period of time.Risk Disclosure: Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry Viewpoints:
Eight departments jointly issued the pilot plan for deepening the price reform of medical services.
New document was released to regulate the medical beauty advertisement.
With labels such as "whitening", "keeping healthy" and "anti-aging", related functional food has captured the "health anxiety" of young people. 
Company News:News about the updated progress on new drugs of JW Therapeutics (2126 HK), Innovent Biologics Inc (1801 HK), Gloria Biosciences,BeiGene Ltd (6160 HK) and Jacobio Pharmaceuticals (1167 HK). Market Review:Last week, stock price for healthcare sector in A share decreased 2.03%, while CSI 300 increased 0.33% over the same period of time.Risk Disclosure: Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China Healthcare Weekly (Sep.3) - Price Reform of Medical Services, Medical Beauty, Functional Food

APAC IPOs & Placements

Zhen Zhou, Toh

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<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> is looking to raise up to US$3bn in its Hong Kong listing. It was listed on the Shenzhen ChiNext Exchange in September 2020. ITD was the leader in hyaluronic acid-based (HA-based) dermal fillers in China in terms of sales volume and sales value  in 2020 with market shares of 27.2% and 14.3%, respectively.In this note, we will briefly cover the company’s background and recent performance before touching upon the deal dynamics.

Imeik Technology Development (300896 CH) is looking to raise up to US$3bn in its Hong Kong listing. It was listed on the Shenzhen ChiNext Exchange in September 2020. ITD was the leader in hyaluronic acid-based (HA-based) dermal fillers in China in terms of sales volume and sales value  in 2020 with market shares of 27.2% and 14.3%, respectively.In this note, we will briefly cover the company’s background and recent performance before touching upon the deal dynamics.

Imeik Tech (爱美客) A/H Pre-IPO - Dermal Filler Leader Capitalizing on Its Valuation

Yonghe Medical Group / Equity Capital Markets

Modern fast pace of life and huge work pressure make hair loss anxiety spread to all kinds of groups. As people pay more attention to hair, the awareness of hair health and management is gradually awakening, and hair transplantation is one of the solutions. On June 17, <a href="https://www.smartkarma.com/entities/yonghe-medical-group-co-ltd" target="_blank" data-smartkarma-citation="entities:33521:1" rel="noopener">Yonghe Medical Group (YMG HK)</a> formally submitted its prospectus to the HKEX and planned to be listed on the main board. If everything goes well, Yonghe will be the first listed company in the field of hair transplantation in China. However, despite the promising market potential, there are some concerns of the Company that deserve investors’ attention.

Modern fast pace of life and huge work pressure make hair loss anxiety spread to all kinds of groups. As people pay more attention to hair, the awareness of hair health and management is gradually awakening, and hair transplantation is one of the solutions. On June 17, Yonghe Medical Group (YMG HK) formally submitted its prospectus to the HKEX and planned to be listed on the main board. If everything goes well, Yonghe will be the first listed company in the field of hair transplantation in China. However, despite the promising market potential, there are some concerns of the Company that deserve investors’ attention.

Pre-IPO Yonghe Medical Group - Here Are the Concerns

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)

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

The article analyzed Evercare Medical in terms of the concerns that worth the attention such as the business expansion, the profitability, lack of...

Xinyao (Criss) Wang

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

China Healthcare Weekly (Sep.3) - Price Reform of Medical Services, Medical Beauty, Functional Food

This article mainly analyzed the pilot plan for the price reform of medical services, new regulation on medical beauty advertisement, functional...

Xinyao (Criss) Wang

Imeik Tech (爱美客) A/H Pre-IPO - Dermal Filler Leader Capitalizing on Its Valuation

Imeik Technology Development (300896 CH) is looking to raise up to US$3bn in its Hong Kong listing. It was listed on the Shenzhen ChiNext Exchange...

Zhen Zhou, Toh

Pre-IPO Yonghe Medical Group - Here Are the Concerns

The article analyzed Yonghe Medical Group in terms of the concerns and challenges that deserve investors’ attention,including the business...

Xinyao (Criss) Wang

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