In today’s briefing:
- Lu DaoPei Medical Group Pre-IPO Tearsheet
- Lepu Medical Technology (300003.CH) – New Development Mode Changes the Valuation Logic
Lu DaoPei Medical Group Pre-IPO Tearsheet
- Lu Daopei Medical Group (1816743D CH) Lu DaoPei Medical Group is looking to raise around US$400m in its upcoming Hong Kong IPO. The bookrunners are CITIC Securities, CMB International, and Macquarie.
- Lu DaoPei Medical Group (LDPM) is a hospital operator focusing on hematology healthcare services.
- As per F&S, the firm was the largest hematology healthcare services provider in China in terms of 2021 revenue.
Lepu Medical Technology (300003.CH) – New Development Mode Changes the Valuation Logic
- After China reopens and demand for COVID-19 testing drops sharply, Lepu has lost the big driving force of performance growth. The 2022 full year performance may not be optimistic.
- Lepu Medical Technology A (300003 CH) has begun to focus more on capital operation. As a holding platform, the valuable assets are spun off, which changes the valuation logic.
- Even if Lepu could finally digest the negative impact of centralized procurement, such development mode would still put pressure/uncertainties on its future performance, leading to lower-than-expected financial results.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
