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.

Pre IPO MicroPort Cardiac Rhythm Management - The Industry, the Business and the Challenges Ahead

Shanghai Pharmaceuticals Holding (601607.CH/2607.HK) - The Situation of Undervaluation Would Change

China Resources Pharmaceutical (3320.HK) - Growth Recovery and SOE Advantages Improve the Outlook

Peijia Medical (9996.HK) Vs Venus MedTech (2500.HK) Vs CardioFlow (2160.HK)-Pain Points and Solution

Hutchmed China Ltd (13.HK/HCM.US)- Stronger than Expected and Deserves More Attention from Investors

Venus MedTech (2500.HK) Vs Peijia Medical (9996.HK) Vs CardioFlow (2160.HK) - Dilemma of TAVR Market

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

Equity Bottom-Up

Microport Cardioflow Medtech / Equity Bottom-Up

<ul>
<li>TAVR was once envisioned with infinite optimism as a "hundred billion yuan market", attracting massive amounts of capital/companies to enter. However, the commercialization status of TAVR companies is much bleak.</li>
<li>High cost of TAVR surgery without medical insurance reimbursement and limited number of qualified hospitals to carry out such complicated surgery are the major reasons for the unsatisfactory sales growth. </li>
<li>Venus Medtech's market share would continue to be challenged. MicroPort CardioFlow's low gross margin and slow product iteration are the problems. Peijia could be “dark horse” if positive momentum continues. </li>
</ul>


TAVR was once envisioned with infinite optimism as a "hundred billion yuan market", attracting massive amounts of capital/companies to enter. However, the commercialization status of TAVR companies is much bleak.
High cost of TAVR surgery without medical insurance reimbursement and limited number of qualified hospitals to carry out such complicated surgery are the major reasons for the unsatisfactory sales growth. 
Venus Medtech's market share would continue to be challenged. MicroPort CardioFlow's low gross margin and slow product iteration are the problems. Peijia could be “dark horse” if positive momentum continues. 


CardioFlow (2160.HK) Vs Venus MedTech (2500.HK) Vs Peijia Medical (9996.HK) - Dark Horse Is Emerging