HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Deshengtang Pharmaceutical Co Ltd / Equity Capital Markets

<ul>
<li>Due to COVID-19, the consumption pattern of customers has changed.The rapid development period of pharmacies is coming to an end and the industry has entered a new era of integration.</li>
<li>The essence of Deshengtang's business model is more like traditional retail offline pharmacies, relying heavily on selling drugs. The Company's healthy gross margin gives hope for an early turnaround. </li>
<li>However, no matter from which field to seek expansion, Deshengtang would encounter strong competitors.It remains to see if Deshengtang can survive in the industry rather than be acquired by competitors.</li>
</ul>


Due to COVID-19, the consumption pattern of customers has changed.The rapid development period of pharmacies is coming to an end and the industry has entered a new era of integration.
The essence of Deshengtang's business model is more like traditional retail offline pharmacies, relying heavily on selling drugs. The Company's healthy gross margin gives hope for an early turnaround. 
However, no matter from which field to seek expansion, Deshengtang would encounter strong competitors.It remains to see if Deshengtang can survive in the industry rather than be acquired by competitors.


Pre-IPO Deshengtang Pharmaceutical - Benign Development Momentum, but Still Face Some Risks

Hong Kong

Deshengtang Pharmaceutical Co Ltd (DESE HK)

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Pre-IPO Deshengtang Pharmaceutical - Benign Development Momentum, but Still Face Some Risks

Deshengtang has hope for an early turnaround if benign development momentum could continue. But its business model does not have a high moat, so...

Xinyao (Criss) Wang