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 (Apr.28)-TCM Formula Granule Outlook, Reduce CAR-T's Price, Gan & Lee Pharma

China Healthcare Weekly (May.5) - Overvaluation in Primary Market, RDC to Be Hot Spot, Yiling Pharma

China Healthcare Weekly (May12)-Policy Catalyst in Medical Device, GLP-1 Overvaluation, Pientzehuang

Shanghai Tofflon Science (300171.CH) 2022/23Q1 - It's Better Not to Go Against the Trend

Pre-IPO Sichuan Baicha Baidao Industrial (PHIP Updates) - Some Points Worth the Attention

Shanghai Tofflon Science Placement (300171.CH)-Industry Periodicity May Put Valuation Under Pressure

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

Equity Bottom-Up

Shanghai Tofflon Science A / Equity Bottom-Up

<ul>
<li>We have seen four transactions of MNC acquiring Chinese Biotech companies. However, this does not mean that domestic big pharmaceutical companies will also participate in the acquisition of small Biotech.</li>
<li>The underlying investment logic of innovative drug is undergoing changes. Non-oncology fields, such as autoimmunity, CNS, endocrine metabolism, and ophthalmology will be the main hot directions of investment and R&amp;D.</li>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-tofflon-science-a" target="_blank" data-smartkarma-citation="entities:15970:1" rel="noopener">Shanghai Tofflon Science A (300171 CH)</a> is still in downward trend. We’re not optimistic about its 2023 results. We don’t recommend bottom-fish this stock unless there is a major catalyst.</li>
</ul>


We have seen four transactions of MNC acquiring Chinese Biotech companies. However, this does not mean that domestic big pharmaceutical companies will also participate in the acquisition of small Biotech.
The underlying investment logic of innovative drug is undergoing changes. Non-oncology fields, such as autoimmunity, CNS, endocrine metabolism, and ophthalmology will be the main hot directions of investment and R&amp;D.

Shanghai Tofflon Science A (300171 CH) is still in downward trend. We’re not optimistic about its 2023 results. We don’t recommend bottom-fish this stock unless there is a major catalyst.


China Healthcare Weekly (Apr.21) - M&As in Biotech, Capital Is Bullish on Non-Tumor Sectors, Tofflon