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.

China Healthcare Weekly (Aug.26) - Policy Trend, Aier Eye Hospital, Hospital Project Construction

Jafron Biomedical (300529CH) 22H1- Possibility of Logic Reversal and Upside Potential of Stock Price

CanSino Biologics (6185.HK/688185.CH) 2022H1 - It's Too Early to Be Completely Bearish on CanSino

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

BeiGene Ltd (6160.HK/BGNE.US/688235.CH) - Valuation Remodeling if the TIGIT Project Fails

2022H2 China Healthcare Investment Strategy and Top Picks

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

Equity Bottom-Up

<ul>
<li>BeiGene’s product sales in 2022H1 more than doubled YoY, which was a positive sign for commercialization. However, net loss further widened, mainly due to significantly high R&amp;D and SG&amp;A expenses.</li>
<li>Tislelizumab and zanubrutinib are not enough to support BeiGene’s high valuation. The success or failure of TIGIT project will be the key to determine how far BeiGene will go.</li>
<li>So far, it is still an indisputable fact that BeiGene has profitability issues. That's why it's hard for us to be optimistic about this company. </li>
</ul>


BeiGene’s product sales in 2022H1 more than doubled YoY, which was a positive sign for commercialization. However, net loss further widened, mainly due to significantly high R&amp;D and SG&amp;A expenses.
Tislelizumab and zanubrutinib are not enough to support BeiGene’s high valuation. The success or failure of TIGIT project will be the key to determine how far BeiGene will go.
So far, it is still an indisputable fact that BeiGene has profitability issues. That's why it's hard for us to be optimistic about this company. 


BeiGene (6160.HK/BGNE.US) 22H1- It Is an Indisputable Fact that BeiGene Is Difficult to Make Profits