HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>Shanghai Municipal Medical Insurance Bureau issued a policy that TAVR consumables would be reimbursed according to surgery performance, breaking the bottleneck of low demand due to the expensive TAVR surgery.</li>
<li>The COVID nucleic acid testing industry faces the problem of exit, because it is very difficult to find a corresponding scale of replacement business for these huge capacity accumulated.</li>
<li>In terms of the internationalization prospects of China biotech companies, we prefer to pick RemeGen. The same logic also applies to Keymed.</li>
</ul>


Shanghai Municipal Medical Insurance Bureau issued a policy that TAVR consumables would be reimbursed according to surgery performance, breaking the bottleneck of low demand due to the expensive TAVR surgery.
The COVID nucleic acid testing industry faces the problem of exit, because it is very difficult to find a corresponding scale of replacement business for these huge capacity accumulated.
In terms of the internationalization prospects of China biotech companies, we prefer to pick RemeGen. The same logic also applies to Keymed.


China Healthcare Weekly (May.27) - New TAVR Policy, Exiting Issue of COVID Testing, RemeGen/Keymed

<ul>
<li>Recently, the VBP results of Chinese patent medicine led by Guangdong Alliance were released.Investors had better confirm whether their products have been included in VBP before investing in related stocks.</li>
<li>The reason why domestic pharmaceutical companies lag behind foreign companies is not only the innovation capability or clinical speed, but also the ability to actively identify innovation and thinking mode.</li>
<li>There would be quite a few consolidations or acquisitions of Biotech at low prices. There could also be some delisting of Biotech in secondary market in the coming year.</li>
</ul>


Recently, the VBP results of Chinese patent medicine led by Guangdong Alliance were released.Investors had better confirm whether their products have been included in VBP before investing in related stocks.
The reason why domestic pharmaceutical companies lag behind foreign companies is not only the innovation capability or clinical speed, but also the ability to actively identify innovation and thinking mode.
There would be quite a few consolidations or acquisitions of Biotech at low prices. There could also be some delisting of Biotech in secondary market in the coming year.


China Healthcare Weekly (Apr.22) - TCM VBP Results, R&D Thinking Mode, Biotech Delisting

<ul>
<li>Last week, the focus of the 2022 Volume-Based Purchase (VBP) was finalized. We summarized the key points and major VBP projects to be promoted this year.</li>
<li>For IVD companies that seize the golden COVID-19 testing opportunity, they have already accumulated large amount of cash flow. It means M&amp;A opportunities but also bubbles in the industry. </li>
<li>The market value of a lot of medical device companies in HKEX has already been very small. Is the market overly pessimistic?</li>
</ul>


Last week, the focus of the 2022 Volume-Based Purchase (VBP) was finalized. We summarized the key points and major VBP projects to be promoted this year.
For IVD companies that seize the golden COVID-19 testing opportunity, they have already accumulated large amount of cash flow. It means M&amp;A opportunities but also bubbles in the industry. 
The market value of a lot of medical device companies in HKEX has already been very small. Is the market overly pessimistic?


China Healthcare Weekly (Apr.15)- 2022 VBP Focus, Post-COVID IVD Outlook, Undervalued Medical Device

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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.</li>
<li>An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an 'Administrative Issue'. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.</li>
<li>Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.</li>
</ul>


Hang Seng announced the results of the March rebalance post market close Friday. Two adds for the HSI, one set of changes for HSCEI, three sets for HSTECH.
An ad hoc rebalance was announced for the KOSDAQ150 following Osstem being designated an 'Administrative Issue'. In IPO world, we have LIC in India and SBI Sumishin NetBank coming up.
Friday was the review cutoff date for the March rebalance of the ASX200 Index. The ATO has provided Aventus with the tax ruling and that creates a timing issue.


Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

Orient Overseas International / Event-Driven

<ul>
<li>There are 29 inclusions and 12 deletions for the HSCI at the March rebalance. 26 of the inclusions will be added to Connect while all deletes will leave Stock Connect.</li>
<li>Some of the Stock Connect deletions have a lot of mainland holdings and there could unwinding of some of the positions ahead of becoming sell-only on the link.</li>
<li>Orient Overseas International, United Energy, Cloud Village and Gcl Poly Energy Holdings Limited could also move higher over the next couple of weeks before the stocks enter Stock Connect.</li>
</ul>


There are 29 inclusions and 12 deletions for the HSCI at the March rebalance. 26 of the inclusions will be added to Connect while all deletes will leave Stock Connect.
Some of the Stock Connect deletions have a lot of mainland holdings and there could unwinding of some of the positions ahead of becoming sell-only on the link.
Orient Overseas International, United Energy, Cloud Village and Gcl Poly Energy Holdings Limited could also move higher over the next couple of weeks before the stocks enter Stock Connect.


HSCI Index Rebalance: 29 Adds, 12 Deletes & Changes to Stock Connect

Hong Kong

Keymed Biosciences Inc. operates a biotechnology company. The Company focus on the in-house discovery and development of innovative biological therapies. Keymed Biosciences provides services in China.

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Keymed Biosciences (2162 HK)

China Healthcare Weekly (May.27) - New TAVR Policy, Exiting Issue of COVID Testing, RemeGen/Keymed

New TAVR policy will break the low demand bottleneck due to high cost; COVID testing industry faces the problem of exit; Remegen/Keymed may have...

Xinyao (Criss) Wang

China Healthcare Weekly (Apr.22) - TCM VBP Results, R&D Thinking Mode, Biotech Delisting

Guangdong Alliance released the VBP results of TCM; The ability to identify innovation and the thinking mode is more important for Pharma; There...

Xinyao (Criss) Wang

China Healthcare Weekly (Apr.15)- 2022 VBP Focus, Post-COVID IVD Outlook, Undervalued Medical Device

The focus of 2022 VBP was finalized. In post-COVID era, how would cash-rich IVD companies with find new growth point?After continuous pullback,...

Xinyao (Criss) Wang

Index Rebalance & ETF Flow Recap: HSI, HSCEI, HSTECH, HSCI, S&P/ASX, SET50, LIC, SBI Sumishin, Crown

This recap highlights Insights covering Asian index rebalances (announcements/ forecasts/ IPO Fast Entry/ M&A driven changes). We also highlight...

Brian Freitas

HSCI Index Rebalance: 29 Adds, 12 Deletes & Changes to Stock Connect

There are 29 adds & 12 deletes for the HSCI at the March rebal. 26 of the inclusions will join Southbound Stock Connect while all the deletes will...

Brian Freitas

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