HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Dentistry has always been one of the areas that investors are interested in. In the HKEX, there are also companies that focus on dental business such as <a href="https://www.smartkarma.com/entities/modern-dental-group-ltd" target="_blank" data-smartkarma-citation="entities:21020:1" rel="noopener">Modern Dental Group (3600 HK)</a>, one of the world's leading global dental prosthetic device providers. The Company’s share price rose from HK$1.44/share in the beginning of the year to HK$3.95/share on May 2, 2021, up 174%, and has been rising continuously in recent weeks, which was mainly driven by the positive financial results after the Company released its 2020 financial reports and previous relatively low valuation. This insight mainly analyzed the logic behind the rally of stock price, the future business prospects and investment suggestion of this Company.

Dentistry has always been one of the areas that investors are interested in. In the HKEX, there are also companies that focus on dental business such as Modern Dental Group (3600 HK), one of the world's leading global dental prosthetic device providers. The Company’s share price rose from HK$1.44/share in the beginning of the year to HK$3.95/share on May 2, 2021, up 174%, and has been rising continuously in recent weeks, which was mainly driven by the positive financial results after the Company released its 2020 financial reports and previous relatively low valuation. This insight mainly analyzed the logic behind the rally of stock price, the future business prospects and investment suggestion of this Company.

Modern Dental Group (3600.HK) - Insights on Recent Rally of Stock Price and Future Outlook

The presentation today would mainly include the following parts:
<ul>
<li>2020 and 2021Q1 financial results</li>
<li>Market potential </li>
<li>Business analysis </li>
<li>Financial Analysis (<a href="https://www.smartkarma.com/entities/topchoice-medical-corporation" target="_blank" data-smartkarma-citation="entities:1102:1" rel="noopener">Topchoice Medical (600763 CH)</a> vs <a href="https://www.smartkarma.com/entities/aier-eye-hospital-group-co-ltd" target="_blank" data-smartkarma-citation="entities:1103:1" rel="noopener">Aier Eye Hospital Group (300015 CH)</a>)</li>
<li>Summary</li>
<li>Risk disclosure</li>
</ul>

The presentation today would mainly include the following parts:

2020 and 2021Q1 financial results
Market potential 
Business analysis 
Financial Analysis (Topchoice Medical (600763 CH) vs Aier Eye Hospital Group (300015 CH))
Summary
Risk disclosure


Presentation on Apr.12: 2021 High Conviction Ideas - Topchoice Medical (600763.CH)

Thematic (Sector/Industry)

Industry viewpoints:<ul>
<li>The 5th volume-based purchase (VBP) could be kicked off in May or June this year, and then officially implement in July.</li>
<li>The National Health Care Security Administration pays high attention to the promotion of "Internet +" medical insurance payment.</li>
<li>The specialized hospitals in China are expected to have more growth potential than general hospitals. 
</li>
</ul>Company news:News about the updated progress of new drugs from <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/shanghai-henlius-biotech-inc" target="_blank" data-smartkarma-citation="entities:27888:1" rel="noopener">Shanghai Henlius Biotech (2696 HK)</a>, and <a href="https://www.smartkarma.com/entities/everest-medicines-ltd" target="_blank" data-smartkarma-citation="entities:29224:1" rel="noopener">Everest Medicines (1952 HK)</a>.Market review: Last week, stock price for healthcare sector in A share increased 2.81%, while CSI 300 increased 2.45% over the same period of time. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
The 5th volume-based purchase (VBP) could be kicked off in May or June this year, and then officially implement in July.
The National Health Care Security Administration pays high attention to the promotion of "Internet +" medical insurance payment.
The specialized hospitals in China are expected to have more growth potential than general hospitals. 

Company news:News about the updated progress of new drugs from Innovent Biologics Inc (1801 HK), Shanghai Henlius Biotech (2696 HK), and Everest Medicines (1952 HK).Market review: Last week, stock price for healthcare sector in A share increased 2.81%, while CSI 300 increased 2.45% over the same period of time. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Equity Capital Markets

China Dental Medical Group / Equity Capital Markets

<a target="_blank"></a>In August 2020, <a href="https://www.smartkarma.com/entities/china-dental-medical-group-co-ltd" target="_blank" data-smartkarma-citation="entities:31116:1" rel="noopener">China Dental Medical Group (CDM HK)</a> submitted its prospectus to the Hong Kong Stock Exchange, intending to list on the main board. This is the second time that the Company submitted its application after the invalidation in the beginning of last year. If the listing is successful, China Dental Medical Group would likely become the second listed company engaged in dental care services in China after <a href="https://www.smartkarma.com/entities/topchoice-medical-corporation" target="_blank" data-smartkarma-citation="entities:1102:1" rel="noopener">Topchoice Medical (600763 CH)</a>. However, compared with its strong peer, could the Company be successful in the future and become the second Topchoice in China?

In August 2020, China Dental Medical Group (CDM HK) submitted its prospectus to the Hong Kong Stock Exchange, intending to list on the main board. This is the second time that the Company submitted its application after the invalidation in the beginning of last year. If the listing is successful, China Dental Medical Group would likely become the second listed company engaged in dental care services in China after Topchoice Medical (600763 CH). However, compared with its strong peer, could the Company be successful in the future and become the second Topchoice in China?

Pre-IPO China Dental Medical Group (CDM HK) - Could It Become the Second Topchoice Medical in China?

The presentation for Webinar: 2021 High Conviction - Investment Opportunities in China Healthcare Industry would mainly include the following parts:<ul>
<li>Stock performance review</li>
<li>Market review</li>
<li>Logic behind the rally of the stock price </li>
<li>Investment trend in 2021</li>
<li>Q&amp;A</li>
</ul>

The presentation for Webinar: 2021 High Conviction - Investment Opportunities in China Healthcare Industry would mainly include the following parts:
Stock performance review
Market review
Logic behind the rally of the stock price 
Investment trend in 2021
Q&amp;A


Presentation for Webinar: 2021 High Conviction-Investment Opportunities in China Healthcare Industry

China

Topchoice Medical Investment Corporation provides dental and oral health care services.

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Topchoice Medical (600763 CH)

Modern Dental Group (3600.HK) - Insights on Recent Rally of Stock Price and Future Outlook

For the rally in stock price since the beginning of 2021, the insight mainly analyzed the logic behind the rally of stock price, the future...

Xinyao (Criss) Wang

Presentation on Apr.12: 2021 High Conviction Ideas - Topchoice Medical (600763.CH)

This article analyzed Top Choice in terms of the 2020 and 2021Q1 financial results, market potential, business model, financial position compared...

Xinyao (Criss) Wang

China Healthcare Weekly (Apr.2)

This article analyzed the upcoming 5th volume-based purchase, the "Internet +" medical insurance payment, the specialized hospital market...

Xinyao (Criss) Wang

Pre-IPO China Dental Medical Group (CDM HK) - Could It Become the Second Topchoice Medical in China?

This article analyzed China Dental Medical Group Co., Ltd in terms of market potential, financial position, and the concerns for its future...

Xinyao (Criss) Wang

Presentation for Webinar: 2021 High Conviction-Investment Opportunities in China Healthcare Industry

This article summarized the content for the presentation in Smartkarma Webinar about the topic "2021 High Conviction - Investment opportunities in...

Xinyao (Criss) Wang

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