HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>The Beijing municipality has added fertility treatment in its medical insurance program. We analyzed related impact.</li>
<li>If we hope to have more companies entering global TOP50 during “14th Five-Year Plan” period, domestic medical device companies need at least 25% annualized revenue growth to make it happen.</li>
<li>Actually, the national medical insurance doesn't determine market size directly but adjust the “distribution”. There's no need to focus solely on anti-tumor field, but rare diseases and central nervous system diseases.</li>
</ul>


The Beijing municipality has added fertility treatment in its medical insurance program. We analyzed related impact.
If we hope to have more companies entering global TOP50 during “14th Five-Year Plan” period, domestic medical device companies need at least 25% annualized revenue growth to make it happen.
Actually, the national medical insurance doesn't determine market size directly but adjust the “distribution”. There's no need to focus solely on anti-tumor field, but rare diseases and central nervous system diseases.


China Healthcare Weekly (Feb.25)-Assisted Reproduction, Medical Device Co. Globalization, New Growth

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>Nearly midway through the review period for the June rebalance of the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX)</a>, we see 29 potential changes to the index.</li>
<li>There are a lot of high and medium probability changes that could result in a one-way turnover of 4.2% and a one-way trade of CNY 10.17bn at the June rebalance.</li>
<li>The potential inclusions have underperformed the potential deletions by c.15% over the last month and this provides a good entry point into a long short/trade.</li>
</ul>


Nearly midway through the review period for the June rebalance of the Shanghai Shenzhen CSI 300 Index (SHSZ300 INDEX), we see 29 potential changes to the index.
There are a lot of high and medium probability changes that could result in a one-way turnover of 4.2% and a one-way trade of CNY 10.17bn at the June rebalance.
The potential inclusions have underperformed the potential deletions by c.15% over the last month and this provides a good entry point into a long short/trade.


CSI300 Index Rebalance Preview (June 2022): Changes Near the Midway Mark

Equity Capital Markets

Huayuan Medical Group Holding / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/huayuan-medical-group-holding-cayman-limited" target="_blank" data-smartkarma-citation="entities:34083:1" rel="noopener">Huayuan Medical Group Holding (HUMG HK)</a> is a manufacturer and supplier of disposable non-latex gloves based in China.</li>
<li>Huayuan’s market position is out of the first echelon. Thanks to COVID-19, its downward trend in performance had been reversed by the pandemic, but such “magic” would not last forever. </li>
<li>Together with other concerns analyzed in the article, we are conservative about the Company's outlook.</li>
</ul>



Huayuan Medical Group Holding (HUMG HK) is a manufacturer and supplier of disposable non-latex gloves based in China.
Huayuan’s market position is out of the first echelon. Thanks to COVID-19, its downward trend in performance had been reversed by the pandemic, but such “magic” would not last forever. 
Together with other concerns analyzed in the article, we are conservative about the Company's outlook.


Pre-IPO Huayuan Medical Group Holding - How to Tell a Good Story After the COVID-19 Magic Disappear?

Hebei Titans Medical Supply Technology Group / Equity Capital Markets

Hebei Titans Medical Supply Technology Group

On June 30, 2021, <a href="https://www.smartkarma.com/entities/hebei-titans-medical-supply-technology-group-co-limited" target="_blank" data-smartkarma-citation="entities:33780:1" rel="noopener">Hebei Titans Medical Supply Technology Group (TMS HK)</a> submitted its listing application to the HKEX and officially started the IPO process. Titans is a leading high-end personal hand protection products manufacturer in China with advanced production technologies and global sales network. The main products of the Company are the nitrile gloves. This insight mainly analyses the industry characteristics, the business and the concerns of Titans.

On June 30, 2021, Hebei Titans Medical Supply Technology Group (TMS HK) submitted its listing application to the HKEX and officially started the IPO process. Titans is a leading high-end personal hand protection products manufacturer in China with advanced production technologies and global sales network. The main products of the Company are the nitrile gloves. This insight mainly analyses the industry characteristics, the business and the concerns of Titans.

Pre-IPO Hebei Titans Medical Supply Technology Group - Insights on the Business and the Concerns

Industry viewpoints:<ul>
<li>The newly released education and training policy increased the short-term volatility in healthcare sector, especially those subsectors with high valuation.</li>
<li>Recently, the Nanjing COVID-19 outbreak (the Delta variant) has spread widely in China.</li>
<li>Favorable policies would support the further expansion of anti-HIV drug market in China. </li>
</ul>Company news:News about the updated progress on drugs and R&amp;D Center of <a href="https://www.smartkarma.com/entities/cstone-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:27882:1" rel="noopener">CStone Pharmaceuticals (2616 HK)</a>, <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> 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 increased 0.9%, while CSI 300 increased 2.29% over the same period of time. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
The newly released education and training policy increased the short-term volatility in healthcare sector, especially those subsectors with high valuation.
Recently, the Nanjing COVID-19 outbreak (the Delta variant) has spread widely in China.
Favorable policies would support the further expansion of anti-HIV drug market in China. 
Company news:News about the updated progress on drugs and R&amp;D Center of CStone Pharmaceuticals (2616 HK), Akeso Biopharma Inc (9926 HK) and Jacobio Pharmaceuticals (1167 HK).Market review: Last week, stock price for healthcare sector in A share increased 0.9%, while CSI 300 increased 2.29% over the same period of time. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

China

Intco Medical Technology Co.,Ltd. manufactures and distributes medical supplies. The Company produces disposable gloves, wheelchairs, gauzes, electrodes, and other products. Intco Medical Technology markets its products throughout China.

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Intco Medical Technology Lt (300677 CH)

China Healthcare Weekly (Feb.25)-Assisted Reproduction, Medical Device Co. Globalization, New Growth

Assisted reproduction is covered by medical insurance; We analyzed the benchmark of medical device companies' globalization, clarify the...

Xinyao (Criss) Wang

CSI300 Index Rebalance Preview (June 2022): Changes Near the Midway Mark

Nearly midway through the review period for the June rebalance of the CSI300 index, we see 29 potential changes resulting in a one-way turnover of...

Brian Freitas

Pre-IPO Huayuan Medical Group Holding - How to Tell a Good Story After the COVID-19 Magic Disappear?

This article mainly analyzed Huayuan Medical Group in terms of the industry characteristics, the future trend, the market pattern, the business...

Xinyao (Criss) Wang

Pre-IPO Hebei Titans Medical Supply Technology Group - Insights on the Business and the Concerns

The article analyzed Titans in terms of its the industry characteristics (the development pattern, the outlook), the business (compared with peers)...

Xinyao (Criss) Wang

China Healthcare Weekly (Aug.6)

The insight mainly analyzed increasing short-term volatility in healthcare sector by newly released education policy, Nanjing COVID-19 outbreak,...

Xinyao (Criss) Wang

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