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.

Remegen Co Ltd (9995.HK) 22H1 - Mr. Market's "Misjudgment" Brings Opportunities to Make Money

Angelalign Technology (6699.HK) 22H1 - Still “Bubble” in Valuation; The Era of High Margin Is Over

Pine Care Group (1989.HK) - Hard to Make Profits Due to Industry Characteristics; Here Is What to Do

Aier Eye Hospital Group (300015.CH) - The Concerns Behind the High Growth Momentum

Aier Eye Hospital Group (300015.CH) 2021/2022Q1 Results - Overvaluation and a Risky Outlook

Aier Eye Hospital Group (300015.CH) - More than Just Bribery Scandal

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

Equity Bottom-Up

Aier Eye Hospital Group / Equity Bottom-Up

<ul>
<li>The fundamental changes in the population structure will lead to a decline in the growth rate of the total retail sales of consumer goods. The long logic doesn't exist.</li>
<li>Aier has hit a growth ceiling. As the endogenous demand will be stepped downward gradually, the performance of Aier will further decline. The downward elasticity of valuation is greater.</li>
<li>It is still difficult for healthcare sector to have its own independent growth logic. The bottom of healthcare sector would appear after the collapse of Aier’s valuation.</li>
</ul>


The fundamental changes in the population structure will lead to a decline in the growth rate of the total retail sales of consumer goods. The long logic doesn't exist.
Aier has hit a growth ceiling. As the endogenous demand will be stepped downward gradually, the performance of Aier will further decline. The downward elasticity of valuation is greater.
It is still difficult for healthcare sector to have its own independent growth logic. The bottom of healthcare sector would appear after the collapse of Aier’s valuation.


Aier Eye Hospital (300015.CH) 22H1 - More Downside Ahead; The Long Logic Doesn't Exist