HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

In recent years, the national policy has provided great support for the development of private healthcare providers. Meanwhile, due to the consumption upgrade, residents have raised their requirements on the level of traditional Chinese medicine (TCM), leading to a growing demand for middle and high-end services from providers. Therefore, some private healthcare providers have developed rapidly by taking advantage of the large market demand and favorable policy support, and are heading for IPO. On June 10, <a href="https://www.smartkarma.com/entities/gushengtang-cayman-ltd" target="_blank" data-smartkarma-citation="entities:33503:1" rel="noopener">Gushengtang (GUS HK), </a>a leading neo-TCM healthcare provider, formally submitted its application for listing on the main board of the HKEX. This insight mainly analyzed the industry characteristics, the business and the concerns of the Company.

In recent years, the national policy has provided great support for the development of private healthcare providers. Meanwhile, due to the consumption upgrade, residents have raised their requirements on the level of traditional Chinese medicine (TCM), leading to a growing demand for middle and high-end services from providers. Therefore, some private healthcare providers have developed rapidly by taking advantage of the large market demand and favorable policy support, and are heading for IPO. On June 10, Gushengtang (GUS HK), a leading neo-TCM healthcare provider, formally submitted its application for listing on the main board of the HKEX. This insight mainly analyzed the industry characteristics, the business and the concerns of the Company.

Pre-IPO Gushengtang - Optimistic About Future Development

Thematic (Sector/Industry)

Industry viewpoints:<ul>
<li>The National Health Commission and three other departments issued new document to promote the coordinated development of TCM and western medicine.</li>
<li>After the completion of the volume-based purchase (VBP) of chemical drugs commonly used in clinical practice, biosimilar drugs and Chinese patent medicine will gradually be included in the framework of the VBP.</li>
<li>The National Health Commission of PRC issued relevant policies and continued emphasis on the diagnosis of autoimmune diseases, which is expected to promote the rapid development of the autoimmune disease diagnosis market in China.</li>
</ul>Company news:News about the updated progress on drugs of <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>, <a href="https://www.smartkarma.com/entities/innocare-pharma-ltd" target="_blank" data-smartkarma-citation="entities:28355:1" rel="noopener">InnoCare Pharma Ltd (9969 HK)</a>, <a href="https://www.smartkarma.com/entities/cstone-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:27882:1" rel="noopener">CStone Pharmaceuticals (2616 HK)</a> and <a href="https://www.smartkarma.com/entities/akeso-biopharma-inc" target="_blank" data-smartkarma-citation="entities:28830:1" rel="noopener">Akeso Biopharma Inc (9926 HK)</a>. Market review:Last week, stock price for healthcare sector in A share decreased 0.8%, while CSI 300 decreased 3.03% over the same period of time.Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
The National Health Commission and three other departments issued new document to promote the coordinated development of TCM and western medicine.
After the completion of the volume-based purchase (VBP) of chemical drugs commonly used in clinical practice, biosimilar drugs and Chinese patent medicine will gradually be included in the framework of the VBP.
The National Health Commission of PRC issued relevant policies and continued emphasis on the diagnosis of autoimmune diseases, which is expected to promote the rapid development of the autoimmune disease diagnosis market in China.
Company news:News about the updated progress on drugs of Innovent Biologics Inc (1801 HK), InnoCare Pharma Ltd (9969 HK), CStone Pharmaceuticals (2616 HK) and Akeso Biopharma Inc (9926 HK). Market review:Last week, stock price for healthcare sector in A share decreased 0.8%, while CSI 300 decreased 3.03% over the same period of time.Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China

Gushengtang Holdings Limted operates as a TCM (Traditional Chinese medicine) healthcare service provider. The Company operates offline medical institutions and online healthcare platforms and provides TCM healthcare services and products. Gushengtang conducts businesses in China.

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Gushengtang (2273 HK)

Pre-IPO Gushengtang - Optimistic About Future Development

This article mainly analyzed Gushengtang in terms of the industry characteristics, the business model, the comparison with peers, the potential...

Xinyao (Criss) Wang

China Healthcare Weekly (July.2)

The article analyzed the new document about the development of TCM and western medicine,potential start time of VBP on biosimilar...

Xinyao (Criss) Wang

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