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.

Zhangzhou Pientzehuang Pharmaceutical (600436.CH) - The Strength and the Concerns

Pre-IPO Biocytogen Pharmaceuticals - The Novel Development Model Offset the Pipeline's Shortcomings

Shandong Weigao Orthopaedic - 2022 Is the Real Test. Short-Term Performance Pressure Is Inevitable

China Healthcare Weekly (Dec.31)-1st State-Level Device Policy,TCM Guideline,TCM Rally Unsustainable

Guangzhou Baiyunshan Pharmaceutical Holdings (874.HK) - Conservative About the Outlook

The Concerns and Outlook About the Recent Rally in Traditional Chinese Medicine (TCM) Sector

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

Equity Bottom-Up

<ul>
<li>The high price of EJiao discouraged consumers, leading to increasing inventory backlog in the distribution channel and reduction in payment collection, which finally resulted in Dong-E-E-Jiao’s net loss in 2019.</li>
<li>Although the performance has showed a recovery trend since 2020,concerns on raw material shortage, low inventory turnover, single product structure, high selling expense ratio and fierce market competition still remain.</li>
<li>There is still a long way to go for the Company to get back to peak, so we are conservative about <a href="https://www.smartkarma.com/entities/dong-e-e-jiaoco-ltd-a" target="_blank" data-smartkarma-citation="entities:8470:1" rel="noopener">Dong E E Jiaoco Ltd A (000423 CH)</a>’s outlook.</li>
</ul>


The high price of EJiao discouraged consumers, leading to increasing inventory backlog in the distribution channel and reduction in payment collection, which finally resulted in Dong-E-E-Jiao’s net loss in 2019.
Although the performance has showed a recovery trend since 2020,concerns on raw material shortage, low inventory turnover, single product structure, high selling expense ratio and fierce market competition still remain.
There is still a long way to go for the Company to get back to peak, so we are conservative about Dong E E Jiaoco Ltd A (000423 CH)’s outlook.


Chongqing Taiji Industry (Group) A (600129 CH)

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd. (600436 CH)

Zhangzhou Pientzehuang Pharmaceutical Co., Ltd.

Dong E E Jiao (000423.CH) - Could the New Chairman Turn Things Around?