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.

The Impact of Trump's Tariffs on China Healthcare - The Victims, And the Safe Haven Assets

China Healthcare (Apr.13) - Trump's Tariffs on Pharmaceuticals, NSCEB's Report, RemeGen's Pain Point

Pre-IPO BenQ BM Holding (PHIP Updates) - Some Points Worth the Attention

Wuxi Biologics (2269 HK) - The Concerns Behind 2024 Results and the Outlook in 2025

China TCM (570.HK) - Updates on Performance Forecast and Valuation Outlook Based on 2024 Results

WuXi AppTec (2359.HK/603259.CH) - The Concerns Behind the 2024 Performance Rebound and 2025 Outlook

Equity Bottom-Up

<ul>
<li>Licensing-Out partnerships are expected to contribute approximately US$6–7 billion in annual upfront payments, US$12–14 billion in milestone payments, and US$25–30 billion in sales-sharing revenues to China’s innovative drug industry.</li>
<li>SASAC’s new policy promotes SOE M&amp;A to strengthen industrial chains, especially in weaker sectors like biomedicine. The strategic deployment of state-owned capital is set to gain momentum.</li>
<li>WuXi AppTec is divesting its stake in WuXi XDC, viewing the shares as overvalued and aiming to lock in profits ahead of a potential price correction.</li>
</ul>


Licensing-Out partnerships are expected to contribute approximately US$6–7 billion in annual upfront payments, US$12–14 billion in milestone payments, and US$25–30 billion in sales-sharing revenues to China’s innovative drug industry.
SASAC’s new policy promotes SOE M&amp;A to strengthen industrial chains, especially in weaker sectors like biomedicine. The strategic deployment of state-owned capital is set to gain momentum.
WuXi AppTec is divesting its stake in WuXi XDC, viewing the shares as overvalued and aiming to lock in profits ahead of a potential price correction.


China Healthcare Weekly (Apr.6) - SASAC to Encourage SOE M&A, WuXi AppTec Disposed XDC Shares Again