HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pfizer Inc (PFE.US) - What if Pfizer Loses the China Market in the Future?

Shanghai Pharmaceuticals (2607.HK)- Low Profitability Is Big Problem; Share Price Would Underperform

Shanghai Tofflon Science Placement (300171.CH)-Industry Periodicity May Put Valuation Under Pressure

CanSino Biologics Inc (688185.CH/6185.HK) - Some Positive Progress in Business

Interpretation of the 20th National Congress of the CPC and the Impact on China Healthcare

Innovent Biologics Inc (1801.HK) - Innovent Is Not Optional but Necessary in Portfolio

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Thematic (Sector/Industry)

Hong kong Healthcare equipment and services / Thematic (Sector/Industry)

<ul>
<li>The 20th National Congress highlighted the importance of autonomy and controllability of key supply chains. So, the most obvious opportunity in China healthcare is import substitution.</li>
<li>For the investment logic of import substitution, we’re more inclined to focus on medical devices sector rather than pharmaceutical sector due to more obvious policy catalysts and higher certainty.</li>
<li>We analyzed our top picks (both medical device sector and others in 2023). After a challenging year, we think that China healthcare in 2023 would be very promising.</li>
</ul>


The 20th National Congress highlighted the importance of autonomy and controllability of key supply chains. So, the most obvious opportunity in China healthcare is import substitution.
For the investment logic of import substitution, we’re more inclined to focus on medical devices sector rather than pharmaceutical sector due to more obvious policy catalysts and higher certainty.
We analyzed our top picks (both medical device sector and others in 2023). After a challenging year, we think that China healthcare in 2023 would be very promising.


Shenzhen Mindray Bio-Medical Electronics (300760 CH)

2023 High Conviction - China Healthcare: Recognize the Direction and Follow the Trend