In today’s briefing:
- China Renaissance (1911 HK): Loss of Face
- Keymed Biosciences (2162.HK) – We Have High Hopes for Keymed, but Valuation Is Expensive
China Renaissance (1911 HK): Loss of Face
- China Renaissance (1911 HK) was once touted as a “leading investment bank and asset manager dedicated to the new economy“. At the time of its 1Q21 post-IPO high, it was.
- Late last Thursday, the 16 February, CR said it was unable to contact (hours, days, weeks?) Bao Fan, its chairman, CEO, and controlling shareholder. Shares subsequently fell 28%.
- Bao is the face of CR and instrumental in client dealing and complex large-scale deal making. Clarification is recommended before investors dip their toe back in the water.
Keymed Biosciences (2162.HK) – We Have High Hopes for Keymed, but Valuation Is Expensive
- Keymed is one of the few enterprises we believe have the strength to develop FIC in the future. Keymed’s “pragmatic” in terms of commercialization,which set it apart from other biotech.
- The current valuation is expensive based on our forecast. The expansion potential of future valuation depends on the progress of overseas R&D/commercialization. This is where Keymed really takes off.
- One big reason we’ve been positive about Keymed is because of its founder, Chen Bo. The down-to-earth style of management makes us full of expectations for Keymed Biosciences (2162 HK).
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