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.

Shijiazhuang Yiling Pharmaceutical (002603.CH) - Doubts About COVID-19 Drug and the Concerns Behind

China Healthcare Weekly (Apr.22) - TCM VBP Results, R&D Thinking Mode, Biotech Delisting

Autobio Diagnostics Co Ltd (603658.CH) - Logic Changes

Venus MedTech (2500.HK) Vs Peijia Medical (9996.HK) Vs CardioFlow (2160.HK) - Dilemma of TAVR Market

The Impact of America COMPETES Act on China Healthcare – Supply Chain Decoupling?

Chongqing Zhifei Biological Products (300122.CH) 2021Q3 - Concerns Behind the High Growth

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

Equity Bottom-Up

Chongqing Zhifei Biological Products / Equity Bottom-Up

Chongqing Zhifei Biological Products (300122 CH)

<ul>
<li>Under the current policy in China, any minor changes to vaccine doses require a series of clinical data support and registration changes. So, WHO’s recommendation won’t affect Zhifei’s short-term performance.</li>
<li>The increasing domestic competing HPV vaccines in the future would be a big threat to Zhifei’s agency business. Its self-developed products may not be strong enough to compensate. </li>
<li>The performance in 2022 is expected to be solid before real challenge comes in 2024. The valuation logic and outlook won’t be brighten unless there’s new breakthrough in agency business.</li>
</ul>


Under the current policy in China, any minor changes to vaccine doses require a series of clinical data support and registration changes. So, WHO’s recommendation won’t affect Zhifei’s short-term performance.
The increasing domestic competing HPV vaccines in the future would be a big threat to Zhifei’s agency business. Its self-developed products may not be strong enough to compensate. 
The performance in 2022 is expected to be solid before real challenge comes in 2024. The valuation logic and outlook won’t be brighten unless there’s new breakthrough in agency business.


Shenzhen Kangtai Biological Pr (300601 CH)

Chengdu Kanghua Biological Pro (300841 CH)

Beijing Wantai Biological Phar (603392 CH)

Chongqing Zhifei Biological Products (300122.CH) - WHO's One-Dose HPV Vaccine Regimen & The Outlook