In today’s briefing:
- BNC Korea (256840 KS): Late Mover in COVID Pill; 2021 Operating Loss and Russia Exposure Add to Woe
- Global Cord Blood (CO US): Gloomy Regulatory and Business Environment Explain Cheap Valuation
BNC Korea (256840 KS): Late Mover in COVID Pill; 2021 Operating Loss and Russia Exposure Add to Woe
- BNC Korea (256840 KS), with its partnered COVID-19 pill will be a late entrant in the space, as two more COVID-19 pills are already approved in South Korea.
- The company reported operating loss of KRW11 billion in 2021 and 99% of its export comes from Russia and CIS countries.
- Since my bearish note published on the company in October 2021, shares have declined 50%. I am still not upbeat on the growth prospect of the company.
Global Cord Blood (CO US): Gloomy Regulatory and Business Environment Explain Cheap Valuation
- Global Cord Blood (CO US) is facing regulatory and business environment uncertainty. China has not released any update on the new licenses of the country’s new cord blood bank.
- The company is seeing slower than expected business recovery and new subscriber addition is decelerating since Q1 FY22, mainly due to COVID-related restrictions.
- China’s birth rate dropped to a record low in 2021, thereby indicating sluggishness in the total addressable market of Global Cord.
Before it’s here, it’s on Smartkarma
