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.

Valuation System with Chinese Characteristics – the Correct Interpretation and Its Deep Meaning

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

China Shineway Pharmaceutical (2877.HK) - Strong Growth Momentum Is Expected to Continue in 2023

China Traditional Chinese Medicine (570.HK) - Short-Term Performance Pressure Is Hard to Avoid

China Traditional Chinese Medicine (570.HK) - The Privatization Rumor and the Outlook

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

Equity Bottom-Up

China Traditional Chinese Medicine / Equity Bottom-Up

China Traditional Chinese Medicine (570 HK)

<ul>
<li>China TCM’s concentrated TCM granules business improved significantly in 22H2, and the total revenue in 22H2 also increased by 42% YoY, indicating that the decline trend has been significantly curbed.</li>
<li>Due to its SOE background+ national standard setters with the largest number of national standards filed, China TCM would be the beneficiary of the industry's transformation during this dividend period.</li>
<li>Due to low base last year, China TCM’s performance would rebound this year. Considering favorable policies and large growth potential in TCM granules, we’re optimistic about its share price performance.</li>
</ul>


China TCM’s concentrated TCM granules business improved significantly in 22H2, and the total revenue in 22H2 also increased by 42% YoY, indicating that the decline trend has been significantly curbed.
Due to its SOE background+ national standard setters with the largest number of national standards filed, China TCM would be the beneficiary of the industry's transformation during this dividend period.
Due to low base last year, China TCM’s performance would rebound this year. Considering favorable policies and large growth potential in TCM granules, we’re optimistic about its share price performance.


China Traditional Chinese Medicine (570.HK) - Looking Forward to a Performance Turnaround in 2023