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.

Tam Jai International (2217 HK) Privatization - The Offer Price Is Good

Goldlion Holdings (533 HK) Privatization - The Offer Price Is Acceptable

China Healthcare Weekly (Feb.9) - Vesync Is a High-Quality Company, VBP to Cover Retail Pharmacies

CR Sanjiu (000999.CH) To Acquire Tasly Pharma (600535.CH) - SOEs Have High Enthusiasm for TCM Assets

China Healthcare Weekly (Feb.2)- Update on CR Sanjiu's Acquisition of Tasly, China Biotech's Outlook

Shanghai Henlius Biotech (2696 HK) - LVC Increased Its Holding of Henlius Again

Equity Bottom-Up

China Resources Sanjiu Medical & Pharma / Equity Bottom-Up

China Resources Sanjiu Medical & Pharma (000999 CH)

<ul>
<li>In our view, China's biotech companies have sold their core pipelines/products too early, resulting in the loss of opportunities to gain much greater benefits in the future.</li>
<li>We summarized the impact of tariff policy implemented by the US on China's healthcare industry. Short-term headwinds are inevitable, but in long term, it helps force the industry to upgrade.</li>
<li>After Spring Festival, the acquisition progress of Tasly by CR Sanjiu has significantly accelerated – SASAC/SAMR approvals have been received. It’s possible for the deal to be completed in 25Q1.</li>
</ul>


In our view, China's biotech companies have sold their core pipelines/products too early, resulting in the loss of opportunities to gain much greater benefits in the future.
We summarized the impact of tariff policy implemented by the US on China's healthcare industry. Short-term headwinds are inevitable, but in long term, it helps force the industry to upgrade.
After Spring Festival, the acquisition progress of Tasly by CR Sanjiu has significantly accelerated – SASAC/SAMR approvals have been received. It’s possible for the deal to be completed in 25Q1.


Zhejiang Huahai Pharmaceutical Co, Ltd. (600521 CH)

China Healthcare Weekly (Feb.16)-Update on CR Sanjiu's Acquisition of Tasly, the Impact of US Tariff