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.

Interpretation of China’s Politburo – The A-Share Bull Market Is Coming?

China Healthcare Weekly (Jul.28) - Starting Point of New Prosperity, MNCs Change Strategy, Genscript

Pre-IPO HealthyWay - The Business Model Lacks Core Competitiveness

Pre-IPO WuXi XDC - The Beautiful Story and the Truth Behind

CanSino Biologics (6185.HK) 2022 Results - It Is Time to Reassess CanSino and Its Future Prospects

Moderna Inc (MRNA US) - What Would Happen After Moderna Enters China?

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

Equity Bottom-Up

<ul>
<li>Based on the current situation, sales of MCV4 in 2023 could still be unsatisfactory. We think MCV4 is hard to become the second growth curve of CanSino in post-COVID era.</li>
<li>Whether CanSino’s zoster vaccine is able to become Best-In-Class would largely determine whether this product would truly become the next blockbuster vaccine to turn the situation around for CanSino. </li>
<li>CanSino's commercialized products cannot contribute large-scale revenue in time to prevent continuous deterioration of performance. Results in 2023 could be lower than expected, and investors are losing confidence in CanSino.</li>
</ul>


Based on the current situation, sales of MCV4 in 2023 could still be unsatisfactory. We think MCV4 is hard to become the second growth curve of CanSino in post-COVID era.
Whether CanSino’s zoster vaccine is able to become Best-In-Class would largely determine whether this product would truly become the next blockbuster vaccine to turn the situation around for CanSino. 
CanSino's commercialized products cannot contribute large-scale revenue in time to prevent continuous deterioration of performance. Results in 2023 could be lower than expected, and investors are losing confidence in CanSino.


Shenzhen Kangtai Biological Pr (300601 CH)

CanSino Biologics (6185.HK/​688185.CH) - The Story Has Changed

CanSino Biologics

CanSino Biologics (6185.HK/​688185.CH) - The Story Has Changed

CanSino Biologics (6185.HK/688185.CH) - The Story Has Changed