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.

Pre-IPO Guanze Intelligent Medical Information Industry - Advantages in Shandong Cannot Hide Worries

China Healthcare Weekly (Apr.1)- Lower Budget of Public Hospitals, IPO Environment, Impatient Market

Sino Biopharmaceutical (1177.HK) - Three “Golden Eggs” and the Risks Behind

Sino Biopharmaceutical (1177.HK) - The Business, The Concerns, The Insights on Biopharma Valuation

Jiangsu Hengrui Medicine (600276.CH) - Here’s when Hengrui May Recover

Hansoh Pharmaceutical (3692.HK) - Lackluster Pipeline, so Bet on SiRNA?

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

Equity Bottom-Up

CSPC Pharmaceutical Group / Equity Bottom-Up

<ul>
<li>Due to the lack of differentiated and frontier enough target layout, the commercialization potential would be more easily questioned, with high uncertainty of having the next NBP level products.</li>
<li>CSPC has made easy money from a few large varieties/generic drugs for many years, but is destined to make the business transformation more difficult, because the “opportunity cost” is high.</li>
<li>CSPC's products have lost their pricing power. Therefore, when its valuation is very low or the entire sector is moving upward, this stock could be traded due to positive momentum.</li>
</ul>


Due to the lack of differentiated and frontier enough target layout, the commercialization potential would be more easily questioned, with high uncertainty of having the next NBP level products.
CSPC has made easy money from a few large varieties/generic drugs for many years, but is destined to make the business transformation more difficult, because the “opportunity cost” is high.
CSPC's products have lost their pricing power. Therefore, when its valuation is very low or the entire sector is moving upward, this stock could be traded due to positive momentum.


CSPC Pharmaceutical Group (1093.HK) - Conservative About the Business Transformation Outlook