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.

GSK Inks Eye-Popping $2B-Plus Pact for Hansoh’s ADC - Is The "New Story" About to Begin?

China Healthcare Weekly (Oct.27) - TCM Formula Granules VBP, Medical Statistics to Watch, Livzon

China Healthcare Weekly (Nov.3)-Share Price Correction,Valuable Shortcut,Globalization Vs Innovation

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

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

Angelalign Technology (6699.HK) - 2023 May Not See a Turnaround in Performance

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>Angelalign’s internationalization strategy requires significant ongoing marketing spending. Lower-tier market expansion in China requires Angelalign to continuously reduce product prices to cope with the low-price strategies of other domestic competitors.</li>
<li>Angelalign is in a period of business transformation. High SG&amp;A expenses help increase market share, but may not necessarily result in improvement in profit margin. Angelalign actually lacks core competitiveness.</li>
<li>We remain conservative on Angelalign’s outlook at this stage. It’s difficult for Angelalign to make significant improvements in financial performance or reversal of fundamentals in the short term. </li>
</ul>


Angelalign’s internationalization strategy requires significant ongoing marketing spending. Lower-tier market expansion in China requires Angelalign to continuously reduce product prices to cope with the low-price strategies of other domestic competitors.
Angelalign is in a period of business transformation. High SG&amp;A expenses help increase market share, but may not necessarily result in improvement in profit margin. Angelalign actually lacks core competitiveness.
We remain conservative on Angelalign’s outlook at this stage. It’s difficult for Angelalign to make significant improvements in financial performance or reversal of fundamentals in the short term. 


Angelalign Technology (6699.HK) - Profit Margin Will Continue to Be Under Pressure