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.

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

China Healthcare Weekly (Aug.18)- COVID Is Here, BIOSECURE Act Update, Livzon Deserves More Patience

Sino Biopharmaceutical (1177.HK) 24H1 - The Concerns Behind the Performance Turnaround

China TCM (570.HK) Privatization Update - Investors May Need to Prepare for a Longer Wait

China TCM (570.HK) Update - Despite Doubts, This Privatization Seems “Mandatory”

China TCM (570.HK) Update - Behind The Share Price Plunge and Prospects for Privatization Progress

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

Event-Driven

China Traditional Chinese Medicine / Event-Driven

China Traditional Chinese Medicine (570 HK)

<ul>
<li>What disappoints investors is that privatization progress is slower-than-expected. Since approval is in "advanced stage", August update is eye-catching. Investors may need more patience with this type of SOE deal. </li>
<li>The key to the success of this privatization lies in whether CNPGC is willing to abide by its commitments. If yes, CNPGC will take all measures to solve the problems.</li>
<li>According to our valuation calculation, even without this privatization, HK$3.5/share is fair for China TCM. Reasonable share price is above HK$5/share. Don't forget, the privatization is still on the agenda.</li>
</ul>


What disappoints investors is that privatization progress is slower-than-expected. Since approval is in "advanced stage", August update is eye-catching. Investors may need more patience with this type of SOE deal. 
The key to the success of this privatization lies in whether CNPGC is willing to abide by its commitments. If yes, CNPGC will take all measures to solve the problems.
According to our valuation calculation, even without this privatization, HK$3.5/share is fair for China TCM. Reasonable share price is above HK$5/share. Don't forget, the privatization is still on the agenda.


Chongqing Taiji Industry (Group) A (600129 CH)

China TCM (570.HK) Privatization Update - Things Are Still Manageable