HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Huadong Medicine Co Ltd A / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/huadong-medicine-co-ltd-a" target="_blank" data-smartkarma-citation="entities:18522:1" rel="noopener">Huadong Medicine (000963 CH)</a>’s traditional core businesses are facing great pressure due to VBP and medical insurance negotiation, which is difficult for Huadong to establish its long-term core competitiveness.</li>
<li>Despite the fierce competition in medical cosmetology industry, the entry of medical cosmetology equipment field is a wise step, helping Huadong form the most complete layout among competitors.</li>
<li>In terms of whether Huangdong could achieve business transformation successfully, the future performance of medical cosmetology business is the key breakthrough point.</li>
</ul>



Huadong Medicine (000963 CH)’s traditional core businesses are facing great pressure due to VBP and medical insurance negotiation, which is difficult for Huadong to establish its long-term core competitiveness.
Despite the fierce competition in medical cosmetology industry, the entry of medical cosmetology equipment field is a wise step, helping Huadong form the most complete layout among competitors.
In terms of whether Huangdong could achieve business transformation successfully, the future performance of medical cosmetology business is the key breakthrough point.


Huadong Medicine Co Ltd (000963.CH) - The Medical Cosmetology Business Is the Key Breakthrough Point

Thematic (Sector/Industry)

<ul>
<li>The expansion of the scope of positioning directly reflects the change in the importance of pharmaceutical industry in the minds of the top level, which is very pivotal.</li>
<li>The determination to abandon old development mode, and promote real innovation and high-quality internationalization remains unchanged. So, companies need to develop at a higher level and a larger stage.</li>
<li>Once achieved, it means that China's pharmaceutical industry will have another radical change after 2015, leading the industry to another new phase of growth.</li>
</ul>


The expansion of the scope of positioning directly reflects the change in the importance of pharmaceutical industry in the minds of the top level, which is very pivotal.
The determination to abandon old development mode, and promote real innovation and high-quality internationalization remains unchanged. So, companies need to develop at a higher level and a larger stage.
Once achieved, it means that China's pharmaceutical industry will have another radical change after 2015, leading the industry to another new phase of growth.


Interpretation of The "14th Five-Year Plan" For the Development of China Pharmaceutical Industry

<ul>
<li>Last week, the 7th national volume-based purchase (VBP) began, involving 208 product specifications and 59 varieties.</li>
<li>We summaries the competitive landscape and outlook of both domestic and foreign pharmaceutical companies in this VBP.</li>
<li>Most investors may not have experienced July 22, 2015, so there is no reason to dismiss the prospects of China's healthcare industry because of the correction in the short term. </li>
</ul>


Last week, the 7th national volume-based purchase (VBP) began, involving 208 product specifications and 59 varieties.
We summaries the competitive landscape and outlook of both domestic and foreign pharmaceutical companies in this VBP.
Most investors may not have experienced July 22, 2015, so there is no reason to dismiss the prospects of China's healthcare industry because of the correction in the short term. 


China Healthcare Weekly (Jan.28) - 7th National VBP, Taking History as a Mirror, Confidence Rebuilt

<ul>
<li>The executive meeting of the State Council last week formally mentioned to include dental implants in the centralized procurement.</li>
<li>We analyzed what the potential impact and trends could be after the centralized procurement is applied to dental implants. </li>
<li>We listed the 16 major varieties that are likely to be included in the 7th national VBP this year. </li>
</ul>


The executive meeting of the State Council last week formally mentioned to include dental implants in the centralized procurement.
We analyzed what the potential impact and trends could be after the centralized procurement is applied to dental implants. 
We listed the 16 major varieties that are likely to be included in the 7th national VBP this year. 


China Healthcare Weekly (Jan.14) - Impact on Dental Implant VBP, Prediction on 7th National VBP 2022

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

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.

Quantitative Analysis

<ul>
<li>We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 31 based on HKEx daily reports.</li>
<li>In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Cspc (1093 HK), Ping An H&amp;T (1833 HK).</li>
<li>In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xiaomi Corporation.</li>
</ul>


We analyze statistics on top repurchases over one week, one month, one quarter and one year periods ended on Dec 31 based on HKEx daily reports.
In the past 7 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Cspc (1093 HK), Ping An H&amp;T (1833 HK).
In the past 30 days, the top 3 companies that repurchased the most shares from the market were Wuxi Biologics, Ping An H&amp;T, Xiaomi Corporation.


Hong Kong Buybacks: Wuxi Biologics Spent HKD2.8bn

China

CSPC Pharmaceutical Group Limited, through its subsidiaries, manufactures and sells pharmaceutical products.  The Company's products include vitamin C, antibiotics and common generic drugs. The Company is also engages in the development of innovative drugs and antibiotics.

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CSPC Pharmaceutical Group (1093 HK)

Huadong Medicine Co Ltd (000963.CH) - The Medical Cosmetology Business Is the Key Breakthrough Point

We analyzed the logic of performance decline in terms of Huadong's core business.But the entry of medical cosmetology equipment field is a wise...

Xinyao (Criss) Wang

Interpretation of The "14th Five-Year Plan" For the Development of China Pharmaceutical Industry

For the newly released "14th Five-year Plan" of China pharmaceutical industry, we analyzed key points and our interpretation. Once achieved, it...

Xinyao (Criss) Wang

China Healthcare Weekly (Jan.28) - 7th National VBP, Taking History as a Mirror, Confidence Rebuilt

We analyzed the competitive landscape of 7th national VBP. Taking history as a mirror, the 2015 healthcare reform could be a good reference.So,...

Xinyao (Criss) Wang

China Healthcare Weekly (Jan.14) - Impact on Dental Implant VBP, Prediction on 7th National VBP 2022

This insight analyzed the centralized procurement on dental implants and its impact and trends, as well as the prediction of 16 major varieties...

Xinyao (Criss) Wang

Hong Kong Buybacks: Wuxi Biologics Spent HKD2.8bn

We highlight the top 3 companies that repurchased the most shares in HK were Wuxi Biologics (2269 HK), Cspc Pharmaceutical (1093 HK), Ping An H&T...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

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