Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<p>For our next Corporate Webinar, we are glad to welcome RemeGen's Chief Financial Officer, Mr. Tong Shaojing.</p>
<p>In the upcoming webinar, Tong will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, <a href="https://www.smartkarma.com/profiles/eric-wen" target="_blank" data-smartkarma-citation="accounts:54017" rel="noopener">Eric Wen</a> . The Corporate Webinar will include a live Q&amp;A session.</p>
<h3>The Corporate Webinar will be hosted on Thursday, 19 September 2024, 09:00 SGT.</h3>
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<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=88131022121" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
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<h3>About RemeGen</h3>
<p>RemeGen was cofounded in 2008 by Mr. Wang Weidong, founder of Rongchang Pharmaceuticals, a leading traditional Chinese medicine company in China and Dr. Fang Jianmin, a Canadian-American scientist. Headquartered in the coastal city of Yantai Shandong Province of China, RemeGen has research labs and offices throughout China and the United States. RemeGen is committed to the discovery, development, and commercialization of innovative and differentiated biologic drugs of significant clinical value in the key therapeutic areas of autoimmune oncology and ophthalmic diseases.</p>

For our next Corporate Webinar, we are glad to welcome RemeGen's Chief Financial Officer, Mr. Tong Shaojing.
In the upcoming webinar, Tong will share a short company presentation after which, he will engage in a fireside chat with Smartkarma Insight Provider, Eric Wen . The Corporate Webinar will include a live Q&amp;A session.
The Corporate Webinar will be hosted on Thursday, 19 September 2024, 09:00 SGT.












Register for the Webinar here












About RemeGen
RemeGen was cofounded in 2008 by Mr. Wang Weidong, founder of Rongchang Pharmaceuticals, a leading traditional Chinese medicine company in China and Dr. Fang Jianmin, a Canadian-American scientist. Headquartered in the coastal city of Yantai Shandong Province of China, RemeGen has research labs and offices throughout China and the United States. RemeGen is committed to the discovery, development, and commercialization of innovative and differentiated biologic drugs of significant clinical value in the key therapeutic areas of autoimmune oncology and ophthalmic diseases.

Smartkarma Corporate Webinar | RemeGen: An Undervalued, Leading Biotech From China

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

<ul>
<li>One “unique” feature of China's CXOs is that they like investment more than drug R&amp;D business, but the investment-driven model will result in "interest-to-conflict", which actually “crosses the line”.</li>
<li>RemeGen's shares plummet last week. In current situation of investors' lack of confidence/trust in RemeGen, stock price may not have hit bottom yet, so no need to rush to bottom-fish.</li>
<li>For Kelun Bio, if SKB264 fails to deliver good data, valuation would face the risk of pullback. After the lock-up expiry, there could be opportunity to buy at lower price.</li>
</ul>


One “unique” feature of China's CXOs is that they like investment more than drug R&amp;D business, but the investment-driven model will result in "interest-to-conflict", which actually “crosses the line”.
RemeGen's shares plummet last week. In current situation of investors' lack of confidence/trust in RemeGen, stock price may not have hit bottom yet, so no need to rush to bottom-fish.
For Kelun Bio, if SKB264 fails to deliver good data, valuation would face the risk of pullback. After the lock-up expiry, there could be opportunity to buy at lower price.


China Healthcare Weekly (July.14) - CXO's Disputed Business Model, Remegen Shares Plunged, Kelun Bio

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

<ul>
<li>We believe RemeGen has bottom fishing value because its Systemic Lupus Erythematosus (SLE) drug Telitacicept (RC18) has already been approved for sale in China.</li>
<li>Earliest data read in US clinical trial for IgA Nephropathy is already available, with SLE data read available in C3Q24 and MS in C4Q24;</li>
<li>We don’t think a leading biotech from the wealthy city of Yantai will run out of cash. We assume RemeGen will be able to mitigate its liquidity problem.</li>
</ul>


We believe RemeGen has bottom fishing value because its Systemic Lupus Erythematosus (SLE) drug Telitacicept (RC18) has already been approved for sale in China.
Earliest data read in US clinical trial for IgA Nephropathy is already available, with SLE data read available in C3Q24 and MS in C4Q24;
We don’t think a leading biotech from the wealthy city of Yantai will run out of cash. We assume RemeGen will be able to mitigate its liquidity problem.


[RemeGen (9995 HK, BUY, TP HK$34) Rating Change]: Time to Do Some Bottom Fishing…UG to BUY

<ul>
<li>One direct reason for the sharp drop in stock prices is that RemeGen's performance in 23Q4 would miss expectation, thus leading to disappointing performance for the entire year of 2023.</li>
<li>Due to low competitiveness of pipelines, product sales are hard to bring sufficient cashflow.Prospects for future license-out deals are still uncertain. RemeGen may find it difficult to turn the tide.</li>
<li>Reasonable market value of Remegen should be above RMB12 billion. Investors can participate in the rebounds after stock price plunge, but we do not recommend holding for the long term.</li>
</ul>


One direct reason for the sharp drop in stock prices is that RemeGen's performance in 23Q4 would miss expectation, thus leading to disappointing performance for the entire year of 2023.
Due to low competitiveness of pipelines, product sales are hard to bring sufficient cashflow.Prospects for future license-out deals are still uncertain. RemeGen may find it difficult to turn the tide.
Reasonable market value of Remegen should be above RMB12 billion. Investors can participate in the rebounds after stock price plunge, but we do not recommend holding for the long term.


Remegen (9995.HK/688331.CH) - The Real Reasons for the Stock Price Collapse and the Future Prospects

Event-Driven

Chongqing Taiji Industry (Group) A / Event-Driven

<ul>
<li>There are several ways for pharmaceutical companies to commercialize drugs. We analyzed the advantages and disadvantages and ranked them accordingly. Among them, out-licensing early-stage pipelines is the worst choice.</li>
<li>After 5-6 years of commercialization, China Biotech have reached the critical point of verifying the feasibility of business models. However, some companies are falling behind. We listed them below.</li>
<li>After the failure of China TCM’s privatization, CNPGC can choose to launch another privatization after 12 months. There’re also other methods to address the horizontal competition issue with Taiji Group.</li>
</ul>


There are several ways for pharmaceutical companies to commercialize drugs. We analyzed the advantages and disadvantages and ranked them accordingly. Among them, out-licensing early-stage pipelines is the worst choice.
After 5-6 years of commercialization, China Biotech have reached the critical point of verifying the feasibility of business models. However, some companies are falling behind. We listed them below.
After the failure of China TCM’s privatization, CNPGC can choose to launch another privatization after 12 months. There’re also other methods to address the horizontal competition issue with Taiji Group.


China Healthcare Weekly (Nov.10)-Biotech Model Validation, CNPGC Need to Fulfill Commitment to Taiji

China

RemeGen Co., Ltd. operates biotechnology businesses. The Company develops therapeutic antibody drugs such as antibody drug conjugates (ADC), antibody fusion proteins, monoclonal antibodies and double antibodies. RemeGen provides solutions autoimmune diseases, tumor diseases, and ophthalmic diseases.

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Remegen (9995 HK)

Smartkarma Corporate Webinar | RemeGen: An Undervalued, Leading Biotech From China

RemeGen (9995 HK) is a leading biotech company committed to the discovery, development, and commercialization of innovative biologic drugs. Learn...

Smartkarma Research

China Healthcare Weekly (July.14) - CXO's Disputed Business Model, Remegen Shares Plunged, Kelun Bio

China CXOs prioritize investment over R&D, leading to potential conflicts of interest. Investors challenged RemeGen due to poor outlook. After...

Xinyao (Criss) Wang

[RemeGen (9995 HK, BUY, TP HK$34) Rating Change]: Time to Do Some Bottom Fishing…UG to BUY

RemeGen's approved SLE drug in China and available data from clinical trials suggest potential value, despite liquidity concerns.We thus upgrade...

Blue Lotus Research Institute

Remegen (9995.HK/688331.CH) - The Real Reasons for the Stock Price Collapse and the Future Prospects

RemeGen's 23Q4 results will miss expectation, leading to poor performance for 2023.The pain point isn't cashflow shortage but weak...

Xinyao (Criss) Wang

China Healthcare Weekly (Nov.10)-Biotech Model Validation, CNPGC Need to Fulfill Commitment to Taiji

Out-licensing early-stage pipelines is the worst option. China Biotech at a critical point in verifying business models. CNPGC has other methods to...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Smartkarma Corporate Webinar | RemeGen: An Undervalued, Leading Biotech From China

RemeGen (9995 HK) is a leading biotech company committed to the discovery, development, and commercialization of innovative biologic drugs. Learn...

Smartkarma Research

China Healthcare Weekly (July.14) - CXO's Disputed Business Model, Remegen Shares Plunged, Kelun Bio

​China CXOs prioritize investment over R&D, leading to potential conflicts of interest. Investors challenged RemeGen due to poor outlook. After...

Xinyao (Criss) Wang

[RemeGen (9995 HK, BUY, TP HK$34) Rating Change]: Time to Do Some Bottom Fishing…UG to BUY

​RemeGen's approved SLE drug in China and available data from clinical trials suggest potential value, despite liquidity concerns.We thus upgrade...

Blue Lotus Research Institute

Remegen (9995.HK/688331.CH) - The Real Reasons for the Stock Price Collapse and the Future Prospects

RemeGen's 23Q4 results will miss expectation, leading to poor performance for 2023.The pain point isn't cashflow shortage but weak...

Xinyao (Criss) Wang

China Healthcare Weekly (Nov.10)-Biotech Model Validation, CNPGC Need to Fulfill Commitment to Taiji

Out-licensing early-stage pipelines is the worst option. China Biotech at a critical point in verifying business models. CNPGC has other methods to...

Xinyao (Criss) Wang

China CXOs prioritize investment over R&D, leading to potential conflicts of interest. Investors challenged RemeGen due to poor outlook. After...

RemeGen's approved SLE drug in China and available data from clinical trials suggest potential value, despite liquidity concerns.We thus upgrade...