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Caixin Global

Articles from Caixin Global

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Cross Asset Strategy

<ul>
<li>
Yuan / In Depth: Why Chinese companies hesitate to hedge forex risk
</li>
<li>
Testing / Local governments’ Covid-19 testing bills pile up, corporate earnings show
</li>
<li>
Economy / Top officials fan out across China to fend off a slowdown
</li>
</ul>



Yuan / In Depth: Why Chinese companies hesitate to hedge forex risk


Testing / Local governments’ Covid-19 testing bills pile up, corporate earnings show


Economy / Top officials fan out across China to fend off a slowdown



CX Daily: Why Chinese Companies Hesitate to Hedge Forex Risk

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>The rapid spread of monkeypox to different groups of people in different countries has alarmed scientists, governments and health officers, but monkeypox virus is relatively mild in severity and infectivity.</li>
<li>China will bear the pressure of imported cases. But due to China’s zero-covid policy and long-term emergency reserve of smallpox vaccine, there's no need to panic at the current stage.</li>
<li>There're investment opportunities, but it’s difficult for related companies to replicate the growth story of COVID-19 products. The market's reaction to monkeypox is overdone. Investors are recommended to be rational.  </li>
</ul>


The rapid spread of monkeypox to different groups of people in different countries has alarmed scientists, governments and health officers, but monkeypox virus is relatively mild in severity and infectivity.
China will bear the pressure of imported cases. But due to China’s zero-covid policy and long-term emergency reserve of smallpox vaccine, there's no need to panic at the current stage.
There're investment opportunities, but it’s difficult for related companies to replicate the growth story of COVID-19 products. The market's reaction to monkeypox is overdone. Investors are recommended to be rational.  


<ul>
<li>DRGs will become the main form of medical insurance payment, which will bring huge impact on all parties (hospitals, physicians, patients, companies) and fundamentally change the existing medical environment.</li>
<li>DRGs would force hospitals/doctors to cure patients within specified time and amount of cost, which would promote the improvement of technology with differentiated innovation that truly drives clinical benefits.</li>
<li>Overall, investors are advised to pay attention to related opportunities but also prepare for the potential risks in advance.</li>
</ul>


DRGs will become the main form of medical insurance payment, which will bring huge impact on all parties (hospitals, physicians, patients, companies) and fundamentally change the existing medical environment.
DRGs would force hospitals/doctors to cure patients within specified time and amount of cost, which would promote the improvement of technology with differentiated innovation that truly drives clinical benefits.
Overall, investors are advised to pay attention to related opportunities but also prepare for the potential risks in advance.


The Impact of DRGs Policy on China Medical System

Equity Capital Markets

ADICON Holdings Limited / Equity Capital Markets

<ul>
<li>The revenue generated from COVID-19 business would not be sustainable in the long term. The lower price of COVID-19 tests, DRGs, centralized procurement and fierce competition would drag down margins.</li>
<li>ADICON hasn’t established enough advantage and moat to secure its leading position and could be overtaken by competitors.The weak R&amp;D makes ADICON difficult to gain an edge in esoteric tests.</li>
<li>Considering the fierce competition, lower margins, the decline of COVID-19 business revenue, and poor liquidity and IPO market sentiment in HKEX, the PE could be below 10.</li>
</ul>


The revenue generated from COVID-19 business would not be sustainable in the long term. The lower price of COVID-19 tests, DRGs, centralized procurement and fierce competition would drag down margins.
ADICON hasn’t established enough advantage and moat to secure its leading position and could be overtaken by competitors.The weak R&amp;D makes ADICON difficult to gain an edge in esoteric tests.
Considering the fierce competition, lower margins, the decline of COVID-19 business revenue, and poor liquidity and IPO market sentiment in HKEX, the PE could be below 10.


Pre-IPO ADICON Holdings Limited - Uncertain Growth and Outlook in Post-COVID Era

After more than 20 years of development in China, independent clinical laboratory (ICL) has achieved rapid growth, especially during the COVID-19. After <a href="https://www.smartkarma.com/entities/guangzhou-kingmed-diagnostics" target="_blank" data-smartkarma-citation="entities:30257:1" rel="noopener">Guangzhou Kingmed Diagnostics (603882 CH)</a> and <a href="https://www.smartkarma.com/entities/zhejiang-dian-diagnostics-a" target="_blank" data-smartkarma-citation="entities:19115:1" rel="noopener">Zhejiang Dian Diagnostics A (300244 CH) </a>got listed, the third-ranking ICL service provider in China, <a href="https://www.smartkarma.com/entities/adicon-holdings-limited" target="_blank" data-smartkarma-citation="entities:33786:1" rel="noopener">ADICON Holdings Limited (ADI HK)</a>, is also preparing to go public. On June 30, 2021, ADICON submitted its prospectus to the HKEX for listing on the main board. This insight mainly analyzed the industry characteristics, the business, and the concerns of the Company.

After more than 20 years of development in China, independent clinical laboratory (ICL) has achieved rapid growth, especially during the COVID-19. After Guangzhou Kingmed Diagnostics (603882 CH) and Zhejiang Dian Diagnostics A (300244 CH) got listed, the third-ranking ICL service provider in China, ADICON Holdings Limited (ADI HK), is also preparing to go public. On June 30, 2021, ADICON submitted its prospectus to the HKEX for listing on the main board. This insight mainly analyzed the industry characteristics, the business, and the concerns of the Company.

Pre-IPO ADICON Holdings Ltd - Insights on Industry, Business and Concerns

China

Zhejiang Dian Diagnostics Co., Ltd. provides medical diagnostic solutions, as an outsourcer, to various general hospitals, specialized hospitals, community health service centers (stations), township (county) hospitals, medical centers,  disease prevention and control centers.

Price Gauge
52-week Range	0.00 - 0.00
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Zhejiang Dian Diagnostics A (300244 CH)

CX Daily: Why Chinese Companies Hesitate to Hedge Forex Risk

In Depth: Why Chinese companies hesitate to hedge forex risk. Local governments’ Covid-19 testing bills pile up, corporate earnings show

Caixin Global

Monkeypox and Its Impact on China

Monkeypox's rapid spread raises concerns. China bears the pressure of imported cases, but it’s difficult to replicate the growth story of COVID-19...

Xinyao (Criss) Wang

The Impact of DRGs Policy on China Medical System

An important remaining piece of China healthcare reform is DRGs, which will fundamentally change the existing medical environment. Investors need...

Xinyao (Criss) Wang

Pre-IPO ADICON Holdings Limited - Uncertain Growth and Outlook in Post-COVID Era

The unsustainable COVID-19 related revenue will put pressure on ADICON's performance in post-COVID era. It's difficult to make breakthrough due to...

Xinyao (Criss) Wang

Pre-IPO ADICON Holdings Ltd - Insights on Industry, Business and Concerns

This insight mainly analyzed ADICON in terms of the ICL industry characteristics in China, the business model of ADICON, the comparison with peers,...

Xinyao (Criss) Wang

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)