In today’s briefing:
- Guangzhou Kingmed Diagnostics (603882CH)-Soaring Accounts Receivable/Potential Bad Debt Are Big Risk
- Biogen Inc: Push For Byooviz & Other Drivers
Guangzhou Kingmed Diagnostics (603882CH)-Soaring Accounts Receivable/Potential Bad Debt Are Big Risk
- Driven by the demand for nucleic acid testing due to COVID-19, Kingmed’s 22Q3 performance continued to grow. However, its accounts receivable also increased sharply, which would be a risk.
- Kingmed has to switch business in time when the huge demand for nucleic acid testing fades away.The YoY growth of other businesses would be the key to decide its outlook.
- The current valuation of Kingmed isn’t attractive. After COVID-19 is under control, Kingmed’s YoY revenue growth could fall back to below 40%. Net profit margin could reduce to above 10%.
Biogen Inc: Push For Byooviz & Other Drivers
- Biogen’s stock has been on a roll as the company delivered another solid set of results, surpassing Wall Street expectations on all counts.
- Along with Eisai, there have been positive results from Clarity AD, a Phase 3 study of the lecanemab.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
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