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.

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

Angelalign Technology (6699.HK) - About the Share Price Rebound, the Outlook and the Challenges

Pre-IPO CanSino Biologics - 2022 Annual Results May Be Ugly as MCV4 Commercialization Hit a Snag

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

Angelalign Technology (6699.HK) - There Is Still Plenty of Downside, but Limited Upside Potential

Modern Dental Group (3600.HK) 22H1- Share Price May Remain Tepid Due to Lack of Core Competitiveness

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

Equity Bottom-Up

Angelalign Technology  / Equity Bottom-Up

<ul>
<li>Due to declining performance, lack of core competitiveness and increasing competition, the market has to re-examine the growth potential and outlook of Angelalign.The era of high margin is fading away.</li>
<li>Angelalign’s low-price strategy is easily hit by similar products with lower prices. Once its price loses advantage, it will directly lead to a rapid and substantial decline in overall performance.</li>
<li>Due to its worse-than-expected 2022H1 performance and economic downturn, we lowered our 2022 forecast of Angelalign. Angelalign shouldn't be valued that much higher than Align Technology, expecting more downside ahead. </li>
</ul>


Due to declining performance, lack of core competitiveness and increasing competition, the market has to re-examine the growth potential and outlook of Angelalign.The era of high margin is fading away.
Angelalign’s low-price strategy is easily hit by similar products with lower prices. Once its price loses advantage, it will directly lead to a rapid and substantial decline in overall performance.
Due to its worse-than-expected 2022H1 performance and economic downturn, we lowered our 2022 forecast of Angelalign. Angelalign shouldn't be valued that much higher than Align Technology, expecting more downside ahead. 


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