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.

Hangzhou Tigermed Consulting (3347.HK/300347.CH) - The Business Model May Not Be a Safe Play

WuXi AppTec Co Ltd (2359.HK/603259.CH) 2022Q1 - Some Points Worth the Attention

Pre-IPO Scivita Medical Technology - The Industry, the Business, and the Concerns

BeiGene Ltd (6160.HK/688235.CH) - There Is No Way to Retreat

WuXi AppTec (2359.HK/603259.CH)- Interesting Points to Ponder Behind 2021 Preliminary Financial Data

Wuxi Biologics (2269.HK) 2021 Results - The Highlights and the Concerns

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

Equity Bottom-Up

Asymchem Laboratories Tianjin / Equity Bottom-Up

<ul>
<li>The three large orders for COVID-19 small molecule drugs are mostly one-off revenues, and after 2022, <a href="https://www.smartkarma.com/entities/asymchem-laboratories" target="_blank" data-smartkarma-citation="entities:35691:1" rel="noopener">Asymchem Laboratories (6821 HK)</a>'s performance could decline from a high base.</li>
<li>In essence, Asymchem mainly relies on cost advantage of large-scale capacity to obtain orders.Without core leading technology in frontier of medicine, Asymchem is difficult to enjoy sustainable industry development dividend.</li>
<li>Overall, Asymchem’s moat is not strong enough, and the certainty of the Company's long-term performance growth is also not high. It could be a short-term trade rather than long-term hold.</li>
</ul>


The three large orders for COVID-19 small molecule drugs are mostly one-off revenues, and after 2022, Asymchem Laboratories (6821 HK)'s performance could decline from a high base.
In essence, Asymchem mainly relies on cost advantage of large-scale capacity to obtain orders.Without core leading technology in frontier of medicine, Asymchem is difficult to enjoy sustainable industry development dividend.
Overall, Asymchem’s moat is not strong enough, and the certainty of the Company's long-term performance growth is also not high. It could be a short-term trade rather than long-term hold.


Asymchem Laboratories Tianjin (002821 CH)

Asymchem Laboratories (6821.HK/002821.CH) - Concerns on Future Growth Momentum